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Home My WebLink About1280 S. That he will permit. commit. o~ sutte~ no waste. impai~ment. oc dete~ioration of seid propeny or any pan thereot; and in the event of the tailure ot the moctgagoc to k£e . t~e_buildings on said pcemises and those tobe erected on said premises. ot imp~ovements thereAn; 1~lQp~ ~l motlgagee~ may make such repaics as in its discretion it nwy deem necessary fot the prope/ pR atiort t!{eceot. ~nd the full amount of eACh and eve~y such peyment shall be immedietely due and peyable, and shall be secured by the lien of this mortgage. 6. That he will pay all and si~gular the casls. che~ges. and expenses, including reaso~able lawyer's (ees. and costs of abstracts of title, incurced o~ paid at any time bythe moctgagee.because o[ the tailure on the pert of the mortgagot promptly aed fully to petform the agreements a~ covenents of said 'promissory note ~ind this mort- gage, aod said costs. charges, and expenses shall be ima~ediately due and peyable and shall be secured by the lien .of this modgage. 7. That he will keep the improvements now existing a hereafter erected oa the mortgaged p~opetty. insured as may be requiced from time to time by the matgagee against loss by fire and other hasards. casualties. and contin- gencies ia such amounts and for such periods as may be required by matgagee. and will pey promptly. when due. any premiums on such insurence ior payment oE which provision has not been made hereinbefore. All insurance shall be carried in companies approved by matgagee and the policies a~d renewals thereof shall be held by mat- gagee and have attached thereto loss peyable clauses in favor of a~d in form acceptable to the modgagee. In eve~t of loss he will give immediate notice by mail to mortgagee. and mortgagee may make proof of loss it not made promptly by mortgagor. and each insurance company concemed is hereby authorized artd directed to make payme~t for such loss directly to mortgagee instead o[ to moctgagoc and matgagee jointly, end the insurance pro- ~ ceeds. o~ any pact thereoE. may be applied by matgagee at its option either to the reduction of the i~debtedness hereby secured or to the restoration a repair oE the propedy damaged. In event of foceclosure of this modgage or other transfer of title to the mortgaged prope~ty in extinguishment of the indebtedness secured hereby. all right. title. and interest of the mortgsgac in a~d to any insurance policies the~ i~ force shall pass to the purchaser oc grantee. 8. That the mortgagee may. at any time pending a suit upon tNis mortgage. apply t0 t~?e ~aift~aving jurisdic- tion thereof for the appointment of a receivec. and such conrt shall forthwith appoint a ceceiver of the premises covered hereby all and singular. including all and singular the income. profits. issues, and revenues from whatever source derived, each and every of which. it being expcessly understood. is hereby mortgaged as if specifically set fodh and described in the granting and habendum clauses hereoE, and such receiveE shall ha.ve all t~a~ broed and effective functioas and powers in anywise entrusted by a court to a receivet. and such appointment ~all be made by such court as an admitted equity and a matter of absolute right to said mortgagee. a~ed without t~fgrence to the adequacy or inadequacy of the value of the propedy mw:gaged or to the solvency or insalvency of said mortgago~ or the defendents, and lhat such rents. profits. income. issues. and revenues shall be applied by such receiver accocding to the lien of this mortgage and the practice of such coud. In the event of any default on the pact of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reasanable monthly rental for the premises an amount at least equivalent to one-twelfth (1/12) of the aggregate of the twelve monthly install- ments payable in the then cunent year plus the actual amount of the annual taxes, assessments. water rates. aad ' insurance premiums for such year not covered by the aforesaid monthly p~yments. ~ 9. That (u) in the event of any breach of this mortgage or default m the pad of the modgagor, 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 (c1 in the event that each and every the st'ipulations, agceements. conditions. and covenants of said note and this modgage, are not duly. promptly, and fully perfonned; 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, or thereafter, at the option of said matgagee, as fully and com- pletely as if all of the said sums of money wece originally stipulated to be paid oe such day, anything in said note a in this mortgage to the contcary notaithstanding; and thereupon or thereafter. at the optian of said mortga- 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 mottgage, as to the aawunt so declared due and j payable, and the said premises shall be sold to satisfy and pay the same together with costs. expenses,and allow- ( ances. In case of partial foreclosure of this moctgage, the mortgaged premises shall ~e 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 aveiled 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 pcemises. ' 11. That no waiver of any covenant herein oc of the obligation secuced hereby shall at any time thereafter be held to be a waiver of t~e terms hereof or of the note secured hereby. 12. That if the mortgagor default in any of the covenants oc agreements contained herein. oc in said note. then the modgagee may perEorm the same, and all expenditutes (including reasonable attorney's fees) made by the mortgagee in so doing shall draw interest at the rate set forth in the note secured hereby, and shall be repayable immediately and without~ demand by the mortgagor to the mortgagee. and. together with interest and costs accruing thereon, shall be secured by this mortgage. ~ - 13. that the mailing of a written notice or demandaddressed to the owner of record of the mortgaged premises, or directed to the said rnvner at the last address actually furnished to the modgagee, or directed 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 pcovisions hereof or by law. 14. The mortgagor further covenants that should this mortgage and the nMe secured hereby ~ot be eligible tor insurance under the National Nousing Act within 3Q Q~YS from the date heteoE (written statement ~ ~ of any officer of the Department of Housing and Urban Development or aathorized agent of the Secretaty oE Hous- w ing and Urban Development dated subsequent to~ the ~~Y time from the date of this matgage, ~ declining to insure said note and this mortgage, being deemed co~c~usive proof of such ineligibility), the mortga- ~ gee or the holder af the note may, at its option, declare all sums secured hereby immediately due and payeble. ~ The .covettahts 6lreew contained shall•bin~~ and the bengfits;a~d advantages shall inure to, the respective heirs, executot's, administrators, successors, and assigns of the padies hereto. Whenever used. the singular num- ber shall include the plural, the plural the singular, and the use of any g~nder shall include all genders. ~ • - . ~ ~ ~ ~ . ~189 . ~~~7 ~ ~ _ _ f;~ ~ - ~ . ~ : _