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Home My WebLink About0848 f . S• That he w~ll permit, c~xnmit, or ~u(fet no waste, impei~ment, or deter~aatioo ot sa~d pro~hy or any py~t the~eot; and ~n the Pvent o( the teilu~e ot the mortgagoc to keep the buildings on sa~d p~em~ses and those tobe erected on ~aid premises, o~ ~mpro~~rments theteon, in good repair, the mwtgagee mey make such repeirs as in itc discretion it may deem necessary fw the p~oper preservation the~eof. and the full amount o[ each and every such psiyment shall be ~mmed~ately due eod pe~~ble, and sfiall be secured by the lien of this mo~tgage. ~ 6. That he will pay all end singular the costs, charges, and expenses, including ~easonable lawyer's fees, and caSts of abst~acts ot title, incu«ed or peid at any time by the mortgagee because ot the failuce on the pert ot the mortgagcx ptomptly ~nd fully to perform the agreements and covenants of said promissory note and this mort- ~ gage, and said costs, cha~ges, end expenses shall be immediately due and peyable and shall be secu~ed by the lien af this matgage. ~ 7. That he will keep the improvements now existing or heceaftec erected on the mortgaged propeny, insured as a may be required [rom time to time by the mortgagee egainst loss by [i~e and other hazards. casualties, and conti~- gencies in such amounts and tor such periods as may be required by mortgagee, and will pay promptly, when due, any premiums on such insurance (or peyment ot which provision has not been made hereinbeiore. All insurance shall be canied i~ companies approved by mortgagee and the policies and renewals thereof shall be held by mort- gagee and have attached thereto loss payable clauses in favoc of and in focm acceptable to the mo~tgagee. In e~•ent of loss he will give immediate notice by mail to moctgagee, a~d mortgagee may make proot of loss if not ~ made promptly by mortgagor, and each insurance company concerned is heceby authorized a~d directed to make = payment for such loss dicectly to mortgagee instead of to mortgagor and mottgagee jointly. and the insurance pro- _ ceeds. or any pari thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness ~ hereby secured or to the restoration or repair of the propedy damaged. In event of foreclosuce of this mo~tgage or ; other trans[er of title to the mortgaged pcoperty in extinguishment of the indebtedness secuced hereby. all right, title, and interest of the moctgago~ in and to any insurance policies then in force shall pass to the purchaser a grantee. 8. That the mo~tgagee may. at any time pending a suit upon this mortgage. apply to the court having jurisdic- ~ tion thereof for the appointment of a receiver, and such court shall fodhwith appoint a receiverv[ the premises i covered hereby atl 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 mQdga~ed as iE specifically set ; forth and described in the granting and habendum clauses hereof. and such reCeivet shall have all the broad and 'i effective functions and powers in anywise entrusted by a court to a receiver, and such appointment shall be made by such court as an admitted equity and a matter of absolute right to said mortgagee. and without reference to the adequacy or inadequacy of the value of the ptoperty mortgaged or to the solvency br ir~sblvency of said mortgagor or the defendents, and that such rents, profits. income, issues, and revenues shall be applied by such receiver according to the lien of this moctgage and the practice of such cou~t. In the event oE eny defaull on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand es a reasonable monthly rental for the premises an amount at least equivalent to one-twelfth (1/12) of the aggregate of the twelve monthly instal!- ments payable in the then current year plus the actual amount of the annual taxes, assessments, water rates. and insurance premiums for such year not covered by the aforesaid monthly payme~ts_ 9. That (u ~ in the event oE any breach of this mortgage or default oa the pa~t of the mortgagor. or (hl in the event that any of said sums of money herein reEerred 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 modgage, are not 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, a thereafter, at the option ef said mortgagee, as fully and com- pietely as if all of the said sums of money were originatly stipulated to be paid on such day, anything in said note or in this mortgage to the contrary notwithstanding; and thereupon ur thereafter, at the option of seid matga- gee, without notice or demand, suit at law or in equity, may be prosecuted as iE all moneys secured hereby had matured prior to its institufion. The mortgagee may foreclose this mortgage, as to the amount so declared due and payable, and the sald premises shall be sold to satisfy and pay the same together with costs. expenses,and altow- ~ ances. In case of partial foreclosure of this matgage, the mortgaged premises ~hall 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 mortgagee. ~ i 10_ That the mortgagor will give immediate notice by mail to the modgagee of any conveyance, transfer, a ~ change of awnership af the premises. ; 11. That no waiver of any covenant herein w of the obligatioq secured hereby shall at any time thereafter be ` j held to be a waiver of the terms hereof or of the note secured hereby. ~ i 12. That if the mottgagor defeult 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 i ~ mortgagee in so doing shall draw interest at tfie rate set forth in the note secured hereby. and shall be repayable ; immediately and withont demand by the mortgaga to the modgagee, and, together with interest and costs accruing ~ thereon, shall be secured by this mortgage. t 13. that the mailing of a written notice oc demandaddressed to the owner oE record of the mortgaged premises, ~ or directed to the said owner at the last address actually furnished to the modgegee, or dicected to saidowner at ; said mortgaged 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 mortgagor further covenants that should this mortgage and the note secured hereby not be eligible ~ for insurance under the National Housing Aci within ~~YS from the date hereof (w~itten statement - of any officer of the Department of Housing and Urban Development or author'ued agent of the Secretary of Hous- a ing and Urban D~velopment dated subsequent to~ the ~~Y time Erom the date of this mortgage, de~liqing:tD I~sprR%~ai~~ t~~!lB~tt6~~~: beu6 ~''~..oonc~y~i~re Proo~~ sucl4+ineligibility}„ tb,~c~Aortga- ; gee w the holder of the note may, at its option, declare all sums secured hereby imaiediately due and peyable. ~ The covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective ; heirs, exech~oli's'- aamiri~~iti~brs, success~s, and assigns d the partie~ 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. ~ 3 i 2 ;j "c Y 3 ~ ~ S i i ~ a~K 189 ~ 845 ~ - ~ - ~ ~:s~___ - . . _ _ . _ _ ~ ~