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Home My WebLink About1070 ` i ~ i . ~ , ~ S. That he will pe~nnit. canmit~ or su[fer eo waste. impoirment. ot dtte~ioiation ot s~id pwpeety ot any pod theceof; and ia tha event ot the Iailure oE the moctgagoc to k~ep the buildin~s on said premises •nd those tobe erected on said premises, o~ improvements theceon. in good cepai~. the mottgagee may make such mpoirs as in its disecetion it nwy dcem necessuy foc the pcoper preservatioe- thececl. and the tull amount of each ond eve~y such payment shall be iaaakdiately due ~nd poy+oblt~ ~nd shell be secured by the liea oE this mortgaga. 6. That I~e will pay all and singulor the coBts. ch~rgcs. and expenses. including reosona~le lawyec's Eees. and costs oE abst~acts of-title. incuned oc peid at any time bythe mottgagee.because of the failure on the port of the mortgago~ promptly and fully to pe~fam the agreements and covenants of said'p~omissocy note and this mort- gage. a~ said costs. charges. and expenses shall be immediately due and peyeble and shall be secured by the . lien of this mortgege. 7. That he will keep the imptovements now cxisting a heceafter ecected ai the moctgaged pcoperty. insured as may be required from time to time by the moctgagee against loss by fire and other hazards, casualties. and co~tin- gencies in such amounts and for such periods as may be required by mortgagee. and will pay pwmptly, when due. any pcemiums on such insaraace for payment of which provisio~ has not been made hereinbeEae. All insurance shall be caicied in compa~ies appraved by moctgagee and the policies and renewals thereof shall be held by mact- gagee and have attached thereto loss payable clauses in favor of and in form acceptable to the modgagee. In event of loss he aill give immediate notice by meil to moctg,ngee. and mortgagee mey make proof of loss if not made promptly by mortgagor. and each insurance company co~cemed is hereby euthocized and directed to make payment for such loss dicectly to mortgegee instead of to moctgagor and mortgagee jointly. and the insurence pro- ceeds, or any part thereof. may be applied by mortgagee at its option eithec to the reduction of the indebtedness hereby secured or to the restoration ar repair of the prope~ty daaiaged. IR event of foceclosure of this modgage oc other transfer of title to the moctgaged propedy in extiaguishment oE the indebtedness secured heceby. all right, title, a~d interest of the moctgaga in and to any insurance policies then in fo~ce shall pess to the purchaser oc grantee. 8. That the mortgagee may. at any time pending a suit upa~ this mortgage. apply to the court having jucisdic- tion thereof for the appointment~ of a ceceiver. and such coud shall forthwith appoint a receiver of the premises covered hereby all and singular. includiag all and singular the income. profits. issues. and reveaues from whatever source derived, each and every of which~ it being expcessly understood. is l~ereby mottga~ed as,it specifically set - forth and described in the granting and habendum clauses hereof, and such receiver shal! have ell the broed and effective Eunctions and powers in anywise entrusted by a caut to a receiver, and such appoint~nent shall be made by such court as an admitted equity and a a~atter of absolute right to said mort a8ee, aad wuhoµ ~ef~~ence to the adequacy or inadequacy of the value of the propeKy mortgaged or to the solve~p oc~inso~vency,~ said mortgagor or the defendents. and that such rents. profits. income. issues, and revenues shal~ be applied by such receiver according to the lien of this mortgage and the practice of snch couet. In the event of any defau'tt on the p~d of the modgagor hereunder. the moctgagor agrees to pay to the mortgagee on demand as a ceasoaable moathly rentel for the premises an amount at least eq~ivalent to one-tvveUt6 (1/12) af the aggreg,~te of the twelve wonthly install- ments payable in the then current year plus tbe actual amount of the annual taxes. assessments. arater rates, and insurance premiums for soch year not covered by the aforesaid monthly peyments. 9. That (01 in the event of any breach of this mortgage or default a~ the ped of the modgagor. or (b) in the event that any of said sums of money herein referred to be not promptly and fully peid aithout demand or notice, or (~1 in tbe event that each and every the st'ipulations. agreements, conditions, and covenants of said note and this mortgage, are not duly. promptly. and fully performed; then in either oc any such event. the seid aggregate sum mentioned in said note then remaining unpaid, with interest accrued to that time. and ell moneys secured hereby. shall become due and payable forthwith, or thereaker, ~at the option of said mactgagee, as fully and com- pletely as if all of the said sums of money were originally stipulated to be peid on such day. anything in said note a in this mortgage to the contrary notwithstanding; aad theceupon or thereafter. at the option oE said martga- gee, without notice or demand. suit at law or in equity. may be prosecuted as if all moneys secured hereby had ~ matured prior to its institution. The mortgagee may foreclose this mortgege. as to the emount so declaced due and ~ payable, and the said premises shall be solc( to satisfy and pay the same together aith coets, expeases.and allow- : ances. In case of pertial foreclosuce oE this mortgage, the mortg,aged pcemises shall be sold su6ject to the con- tinuing lien of this mortgage fa the amount af the debt not thea due and unpaid. In soch case the provisions of this paragraph may agaia be availed of thereafter from time to time by the mortgagee. 10. That the mortgaga will give immediate notice by mail to the mortgagee of any coaveyance. transfer, or change of ovvaership of the premises. ~ 11. That no weiver of any covenant hereia or of the obligation secuced hereby shall et any time thereafter be held to be a waiver of the terms hered or of the note secured hereby: 12. That if the mortgaga default in any of the covenants or agreements contained herein, a in said note~ then the modgagee may pedorm the samg, and all expendituces (incloding reasonable attaney's fees) made by the modgagee in so_ doing shall draw interest at the rate set fath in the aote secured hecehy, and sball be cepayable immediately and without demand by the mortgagac to the mortgagee, aad, together with iaterest and costs accruing thereon, shall be secured by this modgage. 13. that the mailing of a aritten ndice or demandaddressed to the owner of recocd of the mortgeged premises, ~ or directed to the said owner at the last address actually fnrnished to the modgagee, or directed to said opvner at ~ said moitgaged premises, and mailed by the United States mails, shall be sufficie~t notice and demand in eny ~ case arising under this instrument and required by the pcovisions hereof o~ by lsw. ~ 14. The mortgegoi further covenanta that should this mo~t ge and the note secured hereby not be eligible ~ for insuraoce under the National Housing Act ~ivithin from tbe date hereaf (aritten statemeat ~ of any officer of the Department of Housing and Urban Development or authocized agent oE the Secretary of Hous- ~ ing and Urban Development deted subsequent to~ the y~ time from the date of this modgage, decltsi~g to insure ssid 1~dre Aad ttris a~ortgage, be~ag dee~ ~ll~sive proof of sucb•ingUgibility). t6! mortga- ~ gee or the holder oE the note may, at its optioe, declarc all sums secured hereby immediately due and payable. ~ The covenants herein contained shall biad, and the beaefits and adveateges sha11 iaure to. the respective ~ heirs, executors, administrt~tors, successocs. ard assigns af the parties hereto. Whenever used, the singular num- ~ ber shall inclade the plural, the plural the singular, and the use of any gender shall include all genders. ~ . ~ ~189 P~~067 4 . , _ - - - - _ _ _ _ _ - ~ ~ ~Y~ ~ ~ ~ : _ ~~»~--~,f