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Home My WebLink About1141 S. That he w~ll prrmit, comm~t, or su[fer ~o waste, impairmeot, ot deteriocat~on ot seid proEx~ty o~ ony pa~t thereof; and in the event of the (ailu~e of the oottgegor to kdep the build~ngs on said premises aod those tobe e~ected on said premises, or ~mprovements theceon. in ~ood ~epoit, the mottgagee may make such repairs es in its discretion it nwy deem necessar~• [ot the propet presecvation thereo[, and the tuil emount o( each and every such payment shall be immcd~ately due and payable, ~nd shall be secured by the lieo ot this mortgage. 6. That he will pay all end singuler the casts, charges. and expenses, including reasonable lawyer's [ees, ( and castt o( abst~acts ot title, incurred ar peid at eny time bythe mottgagee because ot the teilure on the pert o[ i the mortgagoc promptly and (ully to pe~form the ag~eements and covenants of seid promissory ~ote and this mort- ~ gage, and said costs. charges, and expenses shall be immedietely due and Qayable and shall be secuced by the , lien oI ihis morigage. ; 7. That he wilt keep the improvements now existing or hereattet erected on the mortgaged property. insured as may be required from time to time by the mortgegee ageinst loss by fire aad other hazards. casuelties. and contin- gencies in such amounts artd toc such periods as may be required by mortgagee. and will pay promptly, when due, any premiums on such insurance for payme~t of which provision has eot been made hereinbefuce. Ail insurance shall be carried in companies appcoved by moctgagee and the policies and renewals thereof shall be held by mat- gagee and have attached thereto loss payable clauses in favor ot and in Eorm acceptable to the modgagee. In ` event of loss he will give immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgegor, and each insurance company concerned is hereby authorized and directed to make payment for such loss dicectly to mortgagee instead of to mortgagor and mottgagee jointly. and the insurance pro- ceeds, or any part thereof. may be applied by mortgagee at its optio~ either to the reduction of the indebtedness hereby secured or to the restoratio~ ot repair of the pcoperty demaged. ln event ot foreclosure of this mortgage or other transier oE title to the mortgaged property in extinguishment of the indebtedness secured hereby. all right, title, and interesl~ the mortgaga in and to any insurance policies then in focce shall pass to the purchaser or grantee. 8. That the modgagee may, at any time pending a suit upon this matgage. apply to the court having jurisdic- tion thereof for the appointment of a receiver, and such court shall forthwith appoint a receiver of the premises covered heceby all and singular~ iecluding a!1 and singular the income, profits, i~sues. and tevenues from whatever source derived, each and every of which, it being expressly understood, is hereby mortgaged as if specificelly set forth and described in the granting and habendum' clauses heceof. and such receiver shall have all the broad and effective functions and powecs in anywise entrusted by a court to a recgiver. and su~h appoi~tment shall be made by such court as an admitted equity and a matter of absolute right to sald?+moetgag~, an~atr~hqiut refecence to the adequacy or inadequacy of the value of the property mortgaged or to the solvency or insotvency of said modgagor or the defendents, and that such rents, profits. income. issues, and revenues shall be ~pplied by such receiver according to the lien of this modgage and the practice of snch cou~t. • in the event of any default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reasonable monthly rental for the premises an amount at least eqt~ivalent to one-twelfth (1/12) of the aggreg~te of the twelve monthly install- ments payable in the then curre~t y~ear plus the actual amount of the annual taxes, assessments, Yvater rates, and insuraoce premiums for such year not covered by the aforesaid monthiy payments. 9. That (a~ i~ the event o[ any breach ot this.mortgage or default on the pad of the mortgagor. or (b/ in the event that any of said sums of money herein re[erred 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 martgage, 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 eccrued to that time. and all moneys secured hereby, shall become due and payable forthwith, a 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 a in this mortgage to the contrary notwithstanding; and theceupon oc thereafter, at the option of said matga- gee, without notice ar demand. suit at law or in equity, may be prosecuted as if all moneys secured heceby had i matured prior to its institution. The modgagee may foreclose this mortgage. as to the amount so declared due and payable, and the said pcemises shall be sold to satisfy and pay the same together with costs. expenses,and etlow- i ances. In case of partial toreclosure of this mortgage. the mortgaged premises shell be sold subject to the con- ~ ~ tinuing lien of this mortgage for,the amount of the debt not then due and unpaid. In such cese the piovisions of this paragraph may again be availed of thereafter from time to time by the mortgagee. ~ 10. That the mort a or will ive immediate notice b mail to the mort g B B~ y g~agee of any conveyance, transfer, or g change of ownership of the premises. s ~ 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 hereoE or of the note secwed hereby. ~ 12. That if the r~ortgagor default in any of the covenants a agreements contained herein, or in said note, then ~ the mortgagee may pedorm the same, and all expenditu~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, and shali be repayable ~ immediately and without demand by the mortgaga to the modgagee, and, together with interest and costs accruing thereon, shall be secured by this mortgage. 13. that the mailing of a written notice a demandaddressed to the owner of record of the mortgaged premises, ur directed to the said owner at the last address actually furnished to the mortgagee. or directed to said awner at ~ said mortgaged pcemises, and mailed by the United States maits, 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 Eurther covenants that should this mortga e and the note secured hereby not ue eligible for insurance under the National Housing Act within Q~~$ from the date hereo[ (written statement of any ofEicer of the Department of Housing and Urban Development or authorized agent of the Secretary ot Hous- ~ng and lfrban Development dated subseq~ent to~ the ~~AYS time from the date of this mortgage, ~ declining to insure said note pnd~Ehia mortgagt. bein d g ctonclusiv~e proof oE~such i~eligibility), the mortga- ~ gee oc the holder d the note may, at its option, declare all sums secured hereby immediately due and payeble. ~ t ~ The covenants herein contained shell bind, and the benefits end advantages shall inure to, the cespective ~ heirs, executors, edministratois. successors, and assigns d the parties hereto. Whenever used, the singular num- : ber shall include the plurel, the plural the singular, and the use of any gender shall include all genders. ~ ~ ~ ~ ~ ~ ~ ~ ~~89 ~1~3~ ~ . ~ ~ . ~ - _ : ~ ~f' ~ ~'~~r..~~"'%'~~'~~~~4',m~ ~ . ~ _