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Home My WebLink About0576 , ' ~ S. That hr w~ll pcrmit, cwnmU, o< <u((c•t no waslc. ~rtipai~mrnt, ot detenotetion ot sa~d propetty or any {wtt thcmut; and io ihe ovent ot the fu~lu~e ~~f the mottgagot to keep the build~ngs on said ptemises and lhosc tobe en~•tcd on ~eid p~em~scc, o~ ~mp~uvcmcnts thereo~, in good rep~ir, the maigagee may make such repuits as i~ its d~screlion N may deem necessety iw the proper prese~vation thereot, and the (ull amount o( each and every such papmNnt shall be immediately due and payable, end shall be secured by the lien o( this mortgage. 6. Thut he will pey all and s~ngular the casts, charges. and expenses, includiog teasa~able lawyer's fees, aod casts o( ab~tcacis o( title, incurred or paid at any time bythe mortgagee because of the (ailure oe the pert ot the mu~tgugor promptly end (ully to pertam the ag~eements and cove~ants of said'ptomissory note and this mort- gage, and said costs, cherges, and expenses shall be immediately due and payeble and shall be secured by the lien c~t this mortgage. 7. That he wil! keep the impcovements now existing ot hereatter erected on the mottgaged property. insured as may be cequired trom time to time by the moctgegee against loss by fire and other hazards. casualties. and contin- gencies in sucfi amounts and [or such peciods as may be required by mortgagee. and will pay promptiy. when due, any premiums on such insucance for peymeat of which provision has not been made hereinbeEore. All insurance shall be catcied in companies approved by mortgagee and the policies and renewals thereof shall be held by mort- gagee a~d have attached thereto loss payeble clauses in fava of aruf in form acceptable to the mortgagee. In e~~eot of lass he will give immediete notice by mail to mortgagee, and mortgagee may make proof ot loss if not made promptly by mortgagor, and each iesurance company concerned is hereby authocized and directed to make payment fa such loss di~ectly to mbrtgagee instead o( to matgagor end mortgagee jointly. and the insucance pro- ceeds, oc a~y pe~t theceoE, mey be applied by mortgagee at its option either to the rednction of the indebledness hereby secured oc to the testoration a repaic of the propeny damaged. In event of fweclosure of this mortgage or other transfer of title to the mortgaged property i~ extinguishment oE the indebtedness secured hereby, all right, title, and interest of the mortgegac in and to any .insurance policies then i~ force shall pass to the purchaser or grantee. 8. That the mongagee may. at any time pending a suit upon this mottgage. apply to the court having jurisdic- tiori theteof for the appointment of a~eceiver, and such coud shall forthwith appoint a receivet of the premises covered hereby all and singular. including all and singular the income. profits, issues. and revenues from whatever source derived, each and every of.which, it being expressly understood, is hereby mottgaged as if specificelly set forth and described in the gcanting and habendum clauses hereof. and such ceceiver shall have all the broed and e(fective functions and powers in anywise eMrusted by a court to a receiver. ehd such "appointment shall be made by such caurt as an admitted equity and a matter of absolute right to said mortgagee, and without reference to the adequacy or inadequacy of the vetue of the property mortgaged or to the solverRy or'fhs~lvbet~ said mortgagor or the defendents, and that such rents, profits, income, issues, and revenues shall be ep~lt by such receiver accoreiing to the lien of this mortgage end the practice of such court. In the event of eny defaalt•orrthe pad of the mortgpgor hereunder. the mortgegor agrees to pay to the mortgagee on demand as a reasonpble monthly rental for the premises an amount at least equivalent to one-twelfth (1/12) of the aggregate of the twelve monthly install- ments payable in the then current year plus the actual amount of the annual texes. assessmentS, water rates. and insurance premiums for such year not covered by the a[oresaid monthly payments. 9. That (u ~ in the event of any breach of this modgage or defeult on the part of the modgagor. or (bl in the event that an~ of said sums of money herein referred to be not promptly and fully paid withont demand or notice, or ? in the event that each and every the st'ipulations, agreements, conditions, and covenants of said note and this mortgage, are not duly, promptiy, and fuily 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 focthwith, or thereafter. at the option of seid 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 mortgage to the contrary notwithstanding; and thereupon or thereafter, at the option oE said moctga- i gee, without notice or demand, suit at law or in equity. may be prasecuted as if all moneys secuced hereby had matured prior to its institution. The mortgagee may foreciose 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- E tinuing lien of this mortgage for the amount of the debt not then due and unpaid. ln such case the provisions oE t this paragraph may again be availed of thereafter from time to time by the mortgagee, ~ 10_ That the mortgagar will give immediate notice by mail to the mortgagee of any conveyance. transfer, or ` change of ownership of the premises. ~ 11. That no waiver of any covenant herein or of the odligation secured hereby shall at any time thereafter be ~ hetd to be a waiver of the terms hereof or of the note secured hereby. 12. That if the moctgagor default in any of the covenants or agreements contained herein. or in said note, then ~ the mortgagee may perform the same, and all expenditutes (including reasonable attocney's fees) made by the mortgagee in so doing shall draw interest at the rate set fath in the note secured hereby, and shall be cepayable ~ immediately and without demand by the mortgagor to the mortgagee, and, together with interest and costs accruing thereon, shall be secured by this modgage. + I3. that the mailing of a written notice or demandaddressed to the owner of record of the mortgaged premises, or directed to the said owner at the last address actually furnished to the mortgagee, or directed to said owner at ~ said mortgaged pcemises, and mailed by the United States mails, shall be sufficient notice and demand in any ~ case arising under this instrument and required by the pcovisions hereof or by laW. 14. The mortgagor further covenants that should this mortgage and the note secured hereby not be eligible ~ for insurance under the Natia~al Housing Act within from the date hereof (written statement of any officer of the Depa~tment of Housing and Urban Deve opment or authorized agent of the Secretary of Hous- . ing and Urban DeveloF ment dated subsequent to~ the time from the date of this mortgage, ~ deeiinin6~Eo' insure s'~id nete~and ffiis moifgage, being dee~~cvnclusive proof of sucli• ineligibility), the modga- ~ gee or the holder d the note may, at its option, declare all sums secured hereby immediately due and paysble. ~ ~ The ~oyenants 6erein .contained shall bind, and the beneEits aqd advantages shall inure to. the respective w heirs, executors, administrators, successors, and assigns of the padie~s hereto. Whenever used, the singular num- ~ ber shall inciude the plural, the plural the singular, and the use of any gender shall include all genders. ~ ~ ~ ~ . ~ ~ ~ ~ ~ i89 ~ 5?5 ~ y.. • ~ • ~ ~ ~ ~s ~ ~ ' ~ _ _ fraaw'~ ~ ~ -~~~~~.~na.~ ~ Y~~I ~tu.e e . a~e~'Z ~ _ v