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Home My WebLink About1048 . S. Th~t he will pecmit. commit. o~ suff~t eotwasie.~~p~?~ ~eet. a deterioration of said property or any pprt thereof; ned in the event ot the (aitue~ ot the oo~tgag~ to k~p the buildin~s on said premises aad thoae tobe erected on said prcmises, ot improvements thereon. in good cepoi~. the matgagee may moke such repwi~s ps In its disctetion it may deem necessary Eo~ the proper p~esenration the~eai, and the [ull amount o[ each end evety such payment shall be iamediately due aud peyable, arid shall be secuced by the liea of this mortgago. 6. That he will pay all and ainguler the casts. char~es. and expeoses. includieg ~sonable l~wyer's fees. and costs of abstracts of title. it~cur~ed or paid at any time by tbe matgagee because ot the lailuce on the port of the mortgagot pcomptly ar~d tully to perEwm the agcee~aents and covenaats of said ~promissory note ~ud this mort- gage. and said costs, charges, and expenses shall be immediately due and poyable and shaU be secured by the lie~ of this mortgage. . ~ 7. That he will keep the improvements now existing a hereafter ecected on the matgaged p~operty. insured as may be requiced from time to tia~e by the mortgagee against loss by [lre and otbec hazards. casualties, and contin- gencies in such amounts and tor such pe:iods as ~nay be required by d?ortgagee, and witl pey pcomptly, when due. any premiums on such i~surance fo~ payment of which provision has not beea made heceinbefore. All insucance shall be cerried in companies approved by matg,~gee aad the policies and renewals tbeceof shall be held by mort- gagee and have attached thereto loss peyable clauses in fevor of and in focm acceptable to the modgagee. in event of loss he ~rill give immediate notice by mail to mottg,agee. aad mortgagee roay make proof of loss if not made promptly by mortgagor, and each insucance company concerned is he~eby authorised aad directed to make payment foc such loss dicectly to modgagee instead of to matgaga and matgagee jointly. aad t6e iasurance pro- ceeds, or any part the~eof. roay be applied by mortgagee et its option either to the rednction oE the indebtedness hereby secured or to the restoration or repair o[ the propedy damaged. In event d foreclosure of this iaodgage or other transter of title to the mortgaged property in extinguishment af the indebtedness secured hereby, all right, titte. and i~terest of the ma~tg,agoc in and to any insurance policies then in-Eorce shall pess to the purchaser ac gcantee. ' - 8. That the mortgagee may, et any ti~ne pet~ding a suit upon this mortgage~ apply to the court having jurisdic- tion thereof for the appointment oE a receiver. and such court shall focthwith aQpoint a receiver of the premises covered hereby all and singular, includiag all aad singular the income, proEits. issues, and revenues from wbatever soucce de~ived, each and every of which. it being e:pressly uaderstood, is hereb~r~.p~ ryag~.~}s if specifically set forth and described in the granting and habendum clauses hereof, and such recbMer~sha'li•have alt the broad aad effective functions and powers in anywise entrusted by a caut to a receiver, and such appoiatment shall be made by such court as an admitted equity and a a~atter at absolute right to said mort~agee, and aithout reference to the adequacy or inadequacy of the value of the ptopedy mortgaged or to the ~o~en~y air'fel~1 c,S~ df said mortgagoc or .the defendents, and that such cents. pcofits, income, issues, and revennes shall be e~i~d by such receiver according to the lien of this mortgage and the pcactice of snch court. In tbe event af any defarlt~aa the part oE the modgagor hereunder, the moctgagor agrees to pey to the mortgagee on dem~nd as a te~sooab~e moathly rental for the premises an amount at least eqpivalent to one-twelfth (1/12) of the aggtrg,~te af the twelve moat6ly install- ments payable in the then current year plus the actual amount of the annual~t~tes, assessme~lts. watet rates. and insurance premiums for such year ~at covered by the afocesaid monthly Qayments. ~ 9. That. (a) in the event of any breach of this modgage or default on the pert of the modg,agor. or (b) in the event that any of said sums of money herein referred to be not promptly and fully paid without demand or notice. or (cl in the event that each and every the stipulations, agreements; conditions, and covenants of said note and this moctgage, are not duly. promptly. and fully performed; then in eiWer or any such event, the said aggregate sum mentianed in said note then remaining iu~paid, ~rith intecest accrued to that tiaie. and all tnoaeys secured hereby, shall become due and peyable focthwith, oc thereafter, ot the option of said matgagee~ es fully a~d 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 contcary notwithstandin~; ead thereupon oc thereafter. at tbe option of said matga- gee, without notice or demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had ~ raatured prior to its institution. The moctgagee may foreclose this mortgage. as to the amount so declared due and ~ payable. and the said premises shalt be sold to satisfy and pay the sseae together with costs, expenses,and allow- ; ances. In case of pertial foreclosure of this mo~tgage, the mortg,aged pcemises shall be sold subject to the con- ~ tiauiag lien of this moctgage for the emo~nt d the debt aot then due aad unpeid. In such case the pcovisions of # ~ this paragraph may again be availed of thereafter from time to time by the moctgegee. t 10. That the awrtgagor will give immediate notice by meil to the modgagee of any conveyance. transfer, oc ~ ~ 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 hereaf or of the note secured hereby.' 12. Thet if the mortgagor de[ault in any of the covenants or agreements contaiaed lureia. or in said note, then the mortgagee may pedorm the same, end all expendit~es (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, a~ shall be repayable immediately and without demand by the mortgagor to the modgagee, and, together with interest and cosLs accruing ~ thereoa, shel! be secured by this modgage. 13. that the mailing of a written notice a demand addressed to the oarner oE record of the moctgaged premises, or directed to the said owner at the last address actually ftunished to the matgagee, or directed to seid orvner at ~ said modgaged premises, and mailed by the United States mails, shall be suftkient notice and deawnd in any case arising uader this instrumeat and required by the provisia~~ hereof or by law. ~ 14. The mortgagor Eurther covenants thet should e and the aote secured hereby aot be eligible for insurance under the Natioaal Housing Act within from the date 6ereoE (~rritten statement ~ of any officer of the Depa~laient of Housing aad Urban ~velop at or authorued agent d the Secretary of•Nous- ing and Urban Development dated subsequent to~ the time fcom the date of this mortgage, declining to insure said note and this mortgage, beiag ~m~d conclu~ive proof of such ineli~ibility). tbe modga- ~ gee or the holder of the note may, at its option, declare all sums secured hereby ima~diately due and payable. Y The covenaats hecein coatained shell bind, and the bertefits and advontages shall iaure to. the re~pective ' heirs, executors, administrators, successors. and assigns af the parties hereto. Whenever used, the singular num- ~ ber shall include the plurai, the plural the singular, and the use of any gender shall include all gendets. ~ ~ ~ ~ ~ ! ~ • r ~ ~~89 ~10~5 ~ ~ ~ - z = ~ , -~-~r ~~x- ~ _ . ~'~'&4~~~'~T.~~z: ~is= . . - - ~ - -