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Home My WebLink About0122 1 1 i { S. That he will permit, commit, or suffer no waste, impairme~t, o~ deteriocation af said propetty or any pa~t thereof; and in the event the tailu~e o( the mortgagor to keep the buildings on said premises and those tobe e~ected on said premises, or improvements thereon, in good ~epair, the mortgagee may meke such repeirs as in its disc~etion it may deem necessa~y for the proper preservaiion the~eot, and the full amount ot each and every such payment shail be immediately due and payabte, and shall be secured by the lien of this mortgage. 6. That he will pay all and singular the costs. charges, and expenses, including reasonable lawyer's fees, and costs of abstcacts of title, incurred or paid at any time by the mortgagee .berause of the failure on the part of the mortgagoc promptly and fully to perform the ag~eements and covenents of said'pcomissory note and this murt- ~ gage, a~d said costs, charges, and expe~nses shall be immediately due a~d payabie and shall be secured by the ; lien ot this mortgage. ; 7. That he will keep the improvements now existing or hereatter erected on the modgaged p~ope~ty. insured as ; may be requi~ed from time to time by the moctgagee against loss by (ire and other hazacds. casualties, and contin• ~ gencies in such amounts and for such periods as may be ~equired by mortgagee. and will p~ay promptly. when due. ~ - any premiums on such insurance [or payment of which provision has not been made he~einbefoce. All insurance shall be car~ied in companies approved by moctgagee and the policies and re~ewals thereof shall be held by mort- gagee and have attached thereto loss payable clauses in favor of and in form acceptable to the modgagee. In e~~ent of loss he will give immediate notice by mail to mortgagee, and mortgagee may make proof of loss iE not made promptly by mortgagor, and each insurance company concerned is hereby authorized and directed to make payment for such loss directly to moKgagee instead of to mortgagor and mortgagee jointly. and the insurance pro- F ceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness ; heceby secured or to the restoration or repair of the propecty damaged. In event of foreclosure of this mortgage or i other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby. a11 right, ~ title, and interest of the mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee. 8. That the mortgagee may. at any time pending a suit upon this mortgage. apply to the court having jurisdic- tion thereof tor the appointment of a ~eceiver, and such court shall forthwith appoint a receivet of the premises covered hereby all and singular. including all and singular the income, profits, issues, ant!'tevenugs fcom whatever source derived, each and every of which, it being expressly understood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereof. and such receiver shall have all the broad and effective functions and powers in anywise entrusted by a court to a receiver. and such appointment s~a~l bF-a~ade by such coud as an admitted equity and a matter of absolute right to said mortgageeS•and vrithdu( iefete.nas~to the adequacj+ or inadequacy of the value of the propedy mortgaged or to the so[vency or insotvency of said mortg~gor or the defendents, and that such rents, profits. income. issues, and revenues shall be applied by sucli receiver according to the lien of this moctgage and the practice of such coud. In the event of any default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reasonable monthty rental for the gremises an amount at least equivalent to one-twelEth (1/12) of the aggregate of the twelve moathlylnstall- ments payable in the then current yeac plus the actual amount of the annual taxes. assessments. water rates, and insurance premiums for such year not covered by the aforesaid monthly payrtients. 9. That (u / in the event of any breach of this mortgage or default on the part of the mortgagor, or (6) in the event that any of said sums of money herein referred to be not promptly and fully paid without demand or notice, or (~1 in the event that each and every the st'ipulations, agreements, conditions, and covenants of said note and this mortgage, are aot duly, promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned in said note then remaining unpaid, with interest accrued to that time. and all moneys secured hereby, shall become due and payable forthwith, or thereafter, at the option of said mortgagee, as fully and com- pletely as if all of the said. sums of money were originally stipulated to be paid on such day. anything in said note or in this modgage to the contrary notwithstanding; and thereupon or thereafter, at the option of said mortga- gee, without notice or demand, suit at law or in equity. may be prosecuted as if all moneys secuted hereby had matured prior to its institution. The mortgagee may foreclose this mortgage. as to the amount so declared due and payable, and the said premises shall be sold to satisfy and pay the same together with costs, expenses.and allow- ' ances. In case of partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con- ~ tinuing lien of this mortgage for the amount of the debt not then due and unpaid. In such case the provisions of ~ this paragraph may again be availed of thereafter from time to time by the modgagee. ~ ~ 10. That the modgagor will give immediate notice by mail to the mortgagee of any conveyance, transEer, or ~ ~hange of ownership of the premises. ~ ~ 11. That no waiver of any covenant herein or of the obligetion secured hereby shall at any time thereafter be ~ ~ ~ held to be a waiver of the terms hereof or of the note secured hereby.~ ~ ~ 12. That if the mortgagor default in any of the covenants or agreements contained herein, or in said note. then ~ the mortgagee may perform the same, and all expenditu~es (including reasonable attorney's fees) made by the ; mortgagee in so doing shall draw interest at the rate set focth in the'note secured hereby, and shall be repayable ! ~ immediately and without demand by the modgagor to the mortgagee, and. together with interest and costs accruing ~ ~ thereon, shall be secured by this modgage. ~ 13. that the mailing of a written notice a demand addressed to the owner of record of the mortgaged premises, ~ or directed to the said ovvner at the last address actually furnished to the modgagee, ot ditected to said avner at ~ said modgaged premises, and mailed by the United States mails, shall be sufficient notice and demand in any ~ case arising under this instrument and required by the provisions hereof or by law. ~ 14. The martgagor further covenenfs that shoold this mortgage and the note secured hereby not be eligible ~ for insarance under the National Housing Act within ~~y Erom the date hereof (aritten statement ; of any officer of the Department of Housing and Urban Developmb~ or authorized agent oE the Secretary of Hous- `r: ing and Ucban Development dated subsequent to~ the ~~Y5 time from the date of this modgage. ~ declining to in~ure seid note and this mortgage, being dee cmclusive proof af such ineligibility), the mortga- ~ gee or the holder of the note may, at its option, declare all sums secured hereby immediately due and payeble. ~ The covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective ~ heirs, executors, administrators, successas, and assigns of the parties hereto. Whenever used. the singular num- ; ~ ber shall include the plural, the plural the singular, and the use of any gender shall include all genders. ~ ~ ~ ~ ~ i ~ ~ ~ ~ ~ ~ ~ ~189 ~ ~'2 ~ . - ~.r s ~ ~ fl ~ . '~~~~~~~~t~ . . - `~~~N-~~" _