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Home My WebLink About0753 . : • ' ~ ' t;,t . S. That he will peim~t, cumm~t, cx ~ut(e~ no waste, ~mpu~rment, o~ deteciocat~oo o( seid property or any patt thereot; ~nd in the event ot thc (a~lure o( the mortgagor to keep the buildi~gs on sa~d premises and those tobs erected on soid premises, o~ improvemeats the~eot~, io good repair, the mo~tgagee may meke such repairs as in its discretion ~t may deem necessa~y fot the proper presecvation the~eot, and the full amount o( each and every such peyment shall be immediately due end pa~~eble, and shali-be secu~ed by the lien of this mortgage. ~ 6. That he will pa>~ all and singular the costs, rharges, and expe~ses, including reasonable lawyer's tees. and costs of abstracts af title, incu~~ed o~ peid at any time bythe mortgagee because oE the failure on tiie pert of the mortgagot promptly end [ully to petform the agceement~ and covenants of saio p~omissoty note and this mod- gage, and said costs, chacges, and expenses shalt be immediately due and payable and shall be secured by the lien of this mortgage. 7. That he will keep the impro~ements now existing or heteafter erected on the mortgeged p~opeKy, insured as may be required fcom time to time by the mortgagee against loss by lire and other hasards. casualties. and coatin- gencies in such amounts and for such periods es may be required by mortgagee. and will pey promptly. whe~ due, an~• premiums on such i~surance tor payment of which provision has not been made hereinbeEoce. All insurance shall be~carried in companies approved by mortgagee and the policies and renewels theceof shall be held by mort- : gagee and ha~•e attached thereto loss peyable clauses in Eavor of and in [orm acceptable to the mortgagee. ln e~•ent of loss he will give immediate notice by mail to mortgagee, and mottgagee may make proof of loss if not made promptl~• by mortgagoc. and each insurance company concerned is hereby authorized and directed to make payment for socfi loss directly to moctgagee instead of to mortgagor and moctgagee jointly, and the insurance ~pro- - ceeds, or eny part thereot, may be applied by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration oc repair of the pcoperty damaged. ln event of foreclosure oE this mortgage or other trans(er of title to the mottgaged property in extinguishmeut of the indebtedness secured hereby, all right, titte, and interest of the mortgagot in and to any insurance policies then in force shaU pass to the purchaser or grantee. . 8. Thet the moctgagee may, at any time pending a suit upon this n~ortgage, apply to the court having jurisdic- tion thereof for the appointment of e receiver, and such coart shall forthwith appoint a receiver of t1~ p*e~oiSBS ~ co~•ered hereby all and singular, including all and singular the income, profits, issues, and revenues ftohi whatever ~ .ource derived, each and every of which, it being expressly understood, is hereby mortgaged as if specifically set forth and described in the gra~ting and habendum clauses he~eof, and such receiver shall have all the bcoad and effectire functioos and powers in anywise entrusted by a couri to a receiver, and such appoiMLh~ertt shell be Iapdt b~~ such court as an admitted equity and a matter of absolute right to seid mortgagee, and without reference to the .+dequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the defendents, and that such rents, profits, income, issues. and revenues shall be applied by such receive~ <according to the lien of this moctgage and the pcactice of such coud. ln the event of any default on the pett of the ~~ortgagor hereunder, the mortgagoc agrees to pay to the mortgagee on demand as a reasonable moathly rental for ihe premises an amount at least equi~~alent to one-twelfth (1/12) of the aggregate of the twelve monthly install- -~ents payable in the then current year plus the actual amount of the annual taxes. assessments, water rates, and :nsurance premiums foc such year not covered by the aforesaid monthly payments. 9. That i~? in the event of any breach of this mortgage or detault on the pad of the mortgagor. or (6~ in the e~•ent that any of said sums of money herein referred to be not promptly and fully paid withou3 demand or notice, or ~ in the e~~ent that each and every the stipulations, agreements, conditions, and -covenants of said note and this mortgage, are not dul~, promptly, and fully per[ormed; then in either or any such event, the said aggregate ;um mentioned in said note then remaining unpaid, with interest accrued to that time, and all moneys secured hereb}•, shall become due and payabie 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 oc in this modgage to the contrary notwithstanding; and theceupon or thereafter, at the option of said mortga- gee, without notice or demand, suit at law or in eqnity, may be prosecuted as if all moneys secured 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- a~ces. In case of partial foreclosure of this mortgage, the rt?ortgaged premises shail be sold subject to the con- ~ ;inuing lien of this mortgage for the amount of the debt not then due and unpaid. in such case the provisions o! this paragraph may again be availed of thereafter from time to time by the mortgagee. ~ 10. That the mortgagor will give immediate notice by mail to the mortgagee of any conveyance, transfer, or ~ ; change of ownership of the premises. f 11. That no waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be ~ !~eld 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 expenditures (including reasonable attorney's fees) made by the ~ ~ ^~ortgagee in so doing shalI draw interest at the rate set fath in the note secured hereby, and shall be repayable ~ ~ ~mmediately and without demand by the mortgagor to the mortgagee, and, together with interest and costs accruing ~ ; chereon, shall be secured by this mortgage. ~ 13: that the mail~ng of a written notice or demandaddressed to the owner of record of the mortgaged premises, 3 j or directed to the said owner at the last address actually furnished to the modgagee, or directed to said owner at ~ said morigaged premises, and mailed by the United States mails, shall be sufficient notice and demand in any € case arising under this instcument and required by the provisions hereof or by law. ~ ; l4. The moctgagor covenants and agrees that so long as this mortgage and the said note secured hereby are F ~nsureci under the provisions of the National Housing Act, he will not execute or file for record any instrument _ «•hich imposes a restriction upon the sale or occupancy of the mortgaged property on the basis of ~ace, coloc, or ~-reed. Upon any violation of this undertaking, the mortgagee may, at its option, derlare the unpaid balance of the R debt secured hereby immediately due and payable. ~ 15. The mortgagor further covenants that should this mortgage and the note secured hereby not be eligible ~ foc insurance under the National Housing Act within Dg from the date hereof (written statement ; of any off~cer of the Department of Housing and Urban Deve men~or authorized agent of the Secretary of tious- ~ ~ng and Urban Derelopment dated subsequent to the a~s time from the date of this mortgage, ; declining to insure said note and this mortgage, being deem~~d conclusive proof of such ineligibility), the martga- ~ gee or the holdet d the note may, at its option, declare a(1 sums secured hereby immediately due and payable. ? The covenants herein contain>d shall bind, and the beneEits and advantages shall inure to, the respective = neirs, executors, administrators, successors, and assigns of the parties hereto. N'henever used, the singular num- ~ t,er shall inciode the plural, the plurai the singu~ar, and the use of any gender shall include all genders. a • g ~189 ~ ~ ~ ~ ~ E~-~~, Y~ _ _ i~,,.., ~:~-i _ ~s~~~~~r -~z~~.~?=r.- _ . ~ . _