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Home My WebLink About2808 . ~ i `t ' ~ ~ , . . S. That he will pccmit. commit, or suttec no waste. impeirment. or deterio~ation o( sAid ptopetty o~ bny patt thereof; and in the event ot the [eilu~e o~ the 4nQ~laagor t6;l~p ~e buildiogs on said premises end those tobe erected on seid premises. o~ improvementa the~d~o~, m good'repait~ he mottgagee may make such repai~s as in its discretion it may deem aecessacy Eor the ptop=t pcesetvation the~eot, aod the iull emount ot each and eve~y such payme~t shell be immedietely duc and payeble, and shall be secuced by the lien of this mortgage. 6. That he will pey all and singular the costs, cherges. end expenses. including reasonable lawyer's tees. end costs ot abstracts of title, incuned or paid at any time by the mortgagee .because oi the failuce on the part ot the moctgagor pcomptly and [ully to pectorm the ag~eements and covenants oE said'promissory note aod this mo~t- gage, and said costs, charges, and expe~ses shell be immediately due and peyable a~d shall be secured by the . lien of this mortgage. 7. That he will keep the improvements now existing or hereatter erected on the matgaged property. i~sured as mey be required f~om time to time by the mortgagee against loss by fire and other hesacds. casualties. and contin- gencies in such amounts and tor such periods as may be requiced by mortgegee. and will pay pwmptly. when due. any premiurt~ on such insurance Eor peyment of whlch provision has not bee~ mede hereinbefore. All insucence shall be ca~ried in companies appcoved by mortgagee and the policies and cenewals thereof shall be held by mat- gagee and have attached thereto loss peyeble clauses in favor of and in focm acceptable to the modgagee. le event of loss he will give immediate notice by mail to moNgagee. and mortgagee mey make proof of loss if not mede promptly by mortgagor. a~d each insurance company coacerned is heceby autho~ised and directed to meke payment for such loss di~ectly to mortgagee instead of to mortgegoc ar~d matgagee jointly~ and the insurance p~a ceeds. or any pan theceoE. may be epplied by matgagee at its option either to the reduction of the indebtedness hereby secuced or to the restoration oc repair af the property damaged. In event of foreclosuce of this mortgage or other transfer of title to the mortgaged prope~ty in extinguishment of the indebted~ess secared hereby. all right. title. and interest of the mortgaga in end to eny insurance policies then i~ face shall pess to the purchaser a grantee. 8. That the mortgagee !ney. at eny time pending a suit upon this moctgage~ apply to the court having jurisdic- tion thereof for~the appointment of a receiver, and such coud shell focthwith appoint a~eceiver of the premises covered heceby all end singular. including all and siogular the income, profits. issues, and revenues from whatever source derived. each and eve~y ~f which, it being expressly understood. is heceby modgaged as-if specifically set [odh and described in the granting and habendum cleuses hereof. and such receivet shall 't~ave sll the brosd and efEective functions and powers in enywise entrusted by a court to a receiver. and such appoititment shall be made by such court as an admitted equity a~d a matter of absolute right to said mortgagee. and without refecence to the adequacy or inadequacy of the value of the propedy mortgaged or to the solvency oE insolvepcy;oftse~d mottgagor o~ the defendents. and that such rents, profits. income. issues. and revenues sbell be appried•~r~h ceceiver accocding to the lien of this mortgage and the pcactice of such court. In the event of any default oa L~w-part of the mortgagor hereuader. the mortgagor agrees to pay to the mortgagee on demand as a reasa~eble moathly rental tor the pcemises an amount at least eqpivalent to one-twelEth (1/12) of the aggcegate of the t~velve dwnthly install- ments payable in the then current year plus the actual amount of the annual taxes; essessments; ~?ater rates. and insurance premiums for such year not covered by the aforesaid monthly payments. 9. That (a1 in the event of any breach of this mortgage or default on the part of the modgagor. or (b~ in the event that any of said sums of money herein referred to be not pcomptly end fully paid without demand or notice. or in the event that esch and every the st'ipulations, egreements. conditions. and covenents of said note and this mortgage. are not duly~ promptly, and fully performed; then in eithet or any snch event, the said eggcegate sum mentioned in said note then remaining unpaid, with interest accrued to that time, and all moneys secured hereby. shall become due end payable forthwith. or thereaher, at the option of said moctgagee, as fully and com- pletely as if all of the said sums of money wece originally stipulated to be paid on snch day. anything in said note or in this mortgage to the contrary notWithstanding; and thereupon or thereafter. at the option of said matga- i gee. without notice or demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had ; matuced prioc to its institution. The modgagee may foreclose this mortgege. as to the amount so declared due and _ payable, and the said premises shell be sold to setisEy and pay the same together with costs. expenses,and allow- ances. In case of partial foreclosure of this mortgage, the mortgaged pcemises shall be sold subject to the con- tinuing lien of this mortgage for the amount d the debt not then due and unpaid. In snch cese the provisions of this paragr~ph may agaia be availed of thereafter from time to time by the moctgagee. ' 10. That the mortgagor will give immediate notice by mail to the mortg,agee of any conveyance. trensfer, or change of ownership of the premises. - 11. That no waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held to be a waiver of the terms hereoE or of the note secured hereby.' 12. That if the mortgagor default in any of the covenants or agreea~ents coatained herein. a in said note, then the mortgagee may pecform the same, and all expendituces (including.reasonable attacney's fees) made by,the mortgagee in so doing shall draw interest at the rate set focth in ihe note secured hereby, and shalt be repayable immediately end withoat demand by the mortgagar to the mortgagee, and, together wit6 interest and costs accruing thereon, shall be secured by this mortgage. ~ - 13. that the mailing of a written notice oc demand addressed to the oaner of record of the mortgaged premises, or directed to the said owner at the last addcess actually furnished to the mortgagee, or directed to said awner at said mortgaged pcemises, and mailed by the United States mails. shall be sufEicient notice aad demand in any case arising under this instcument and required by the provisions hereof or by lew. 14. The modgagor furt6er covenants that shonld this matgage and the note secured hereby aot be eligible for insncance under the National Nousiag Act within ~ QA~ from tbe date heceef (written statement ~ of any officer of the Department of Housing and Urbaa Development or authorized agent of the Secretary of Hous- ing and Urban Development dated subsequent to the 30 Q~YS time from the date of this modgage. declining to iasure said note and this mortgage, beiag deemed coaclusive proof oE such ineligibility), the moctga- gee or the holder of the note may, at its option. declare all sums secured heceby immediately due and peyable. The covenants herein oontained shall bind, and the benefits and advantages shall inure to, the cespective beirs, executocs, administrators, successocs, and assigns of the perties hereto. Whenever used. the singular num- bet shall include the plural, the plural the singular, and the use of any gender shall include all genders. ~ ~i88 ~2803 ~ _ . y: _ r y `r c. ° ~ - ~'r > - ~z3~.'`s~+e-~+x--~ - . ~