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Home My WebLink About2073 ~ ~ S. That he will permit. commit, or sy~(e ~ p t , ot detetiorotion ot said propctty or eny part thereot; and in the event o( the failnre d ~~i~c tp~ ~~e buildin~a on said premises and those tobe erected on said pcemises. or improvements t~ceon. tn ~ood tepoi~. the n~atgagee may awke such rcpai~s as in ita discretion 1 ~aay d~em neceasaty for tl~e ptope~ pcesecvation the~eof. pnd t~e tull amount aI each and every such p~yment sh~ll be immediately due and poyable. and shall be secuced by the liee of this'mortgage: ~ 6. That he will pay all •nd singulat the co~ts. charges. and expenses, including reaso~~ble lawyer's Eees. a~d costs of abstracts of title. incurred or paid at any time bythe martgagee because of the foilure on the pact of the mortgaga promptly and fully to pe~form the agceemeats and covenanta of said ~promisso~y oote and this mort- gage, end said costs. cfwrges. a~d expenses shall be immediately due and pwyable and shali be secured by the ~ lien of this moctgage. 7. That he qi11 keep the imprrneme~ts nw~? existing a hereafter ecected on the matgaged propeny. insured as may be requiced from time to time by the mortgagee against losa by fire and othe~ hazards~ cesualties. a~d co~tin- gencies in such amounts ar~d for such pe~iods as may be required by mortgegee, end will pay pwmptly. when due. any pceaiums on such insurance [or peyment oE ~rhieh pwvision has not been made hereinbefore. All insuiance shall be canied in companies approved by matgagee and the policics and renewals theceof shall be held by mat- gagee and have attached thereto loss payable clauses in favor of and in fo~m acceptable to the modgagee. ln event of loss he will give immediate notice by mail to mortgt+gee. end mattgagee mey make proof of loss if not made promptly by matgagor. and each insurance company concerned is hereby authorized and directed to make paya~e~t fa such ioss diceccly co morcgagee insceAd of co macgag« and morcgo~e ~oincly. aad the insucance pro- ceeds. or aay part thereof, awy be applied by matgagee at its option either to the reduction oE the indebiedness heieby secured or to the restoration or repair oE the prope~ty damaged. Ia event of foreclosure of this modgage oc other trartsfer of title to the mortgaged property in extinguishment oi the indebtedness secuced hereby. ell right. title. and interest of the mortgagac in and to any insurance policies then in force sha11 pess to the purchaser or g~antee. " 8. That the mortgagee usay. at any time pe~ding a suit upon this matgage~ apply to the court having jurisdic- tion thereaf for the appointmeat af a receiver. and such couit shall Eorthwith appoint a receiver of the premises covered hereby all aad singular. iacluding all and singular the income. profits. issues. and revenues from whatever sourse derived, each and every of which. it being e:pcessly understood, is hereby mortg,aged as if specifically set forth and described ia the granting and habendum clauses hereof. and such ceceiver shall have ell the broed and ~ effective fu~tions 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 oE absolute right'to said matgagee. and without refetence to the adequacy or inadequacy of the velue of the property matgaged or to the solvency a insolvency of said mortgagor or the defendents, and thet sucb rents, profits, income. issues. aad revenues shall be applied by such receiver according to the lien of this mo~1`~fge. a0d 2?e,practice oE such court. In the event of any default on the pad of the mortgegor hereunder. the enactgagoc agcees to pay to the matgagee on demaed as a reasonable monthly rental for the premises an amount at teast eqpivslent to one-twelfth (1/12) of the aggreg,ate of the twelve monthly install-~ ments payable in the thea cytre~rt ~eat plus tJ~ actual amount of the annual taxes, assessments. water rates. and insurance premiums for such year not cova~:dy the aforesaid monthly p~yments. 9. That (a) in tlie event of any breach.of this modgage or default on the part of the mortgagor, or (62 in the event that any of said sums of money herein referred to be not promptly and Eully paid without demand or notice. or (~1 ia the event that each and evety the st'ipulations. agteemeats. coaditions_, and covenants of said note and this mwtgage. are not duly. promptly. ~ fully pecformed; thea ia either or aay such event. the said aggregate sum mentiooed in said note then remaiaing unpaid, ~ith interest accrued -to that time, and all moneys secured hereby. shail become due and peyable forthwith. o~ thereafter. at the option of said mflctgagee, as fully and com- pletely as if all of the said s~ms oi moaey were originally stipulated to be paid on such day, anything in said ~ note o~ in this moitgage to the coatrary ndwithstaadiag; aad therenpon oc theceafter, at the option of said matga- gee, withont notice or demand. suit at Iarv or in equity, may be pcosecuted as if all moneys secured hereby had ; matured prior to its institution. The mortgage~ m~y foreclose this matgage. as to the amount so declared due and payable, and the said premises shall be solc~ to satisfy and pay the same together rvith costs, expenses.and allow- • ` ances. ta case of pertial foreclosuce of this matgage, the mortgaged pcemises shall be sotd subject to the con- 4 tiauiag liea of this moctgage for the smount d the debt not then dne and unpaid. In such case the provisions of ~ this paragraph uwy ag,~in be availed of thereaker from time to time by the matgagee. f 10. That the ~noctgagor will give immediate notice by mail to the moctgegee oE aay conveyance. tra~sfer. or s change of avnership af tl~e premises. ~ 11. That no waiver of any covenant herein or of the obligatioa secured hereby shall at any time thereafter be ~ held to be a~vaiver of the terms hered or of the note secured hereby.~ ~ 12. TTliat if the mortg,aga default in any oE the covenants a agreements conteined berein, or in said note, then ~ the mortg,agee may pedorm the samg. and all expenditutes (including ceasonable attoneey's fees) made by the mortgagee in so doing s6a11 draw interest at tbe rate set fartb io the note secared hereby, and shal! be repayable ~ immediately and aithout demand by the mortgaga to the matgagee, and, together with interest and costs accruing ~ thereon, s6all~be securec! by this mortgage. _ ~ _ . . . . ~ 13. that the mailing of a~ vritte~}~otio~ or _dem~~add~sed`to'tht'oaner'of iecord of the moitgeged pcemises, or di r e c t e d to -t b e sai d diiti~'r at t i ie fast a d dress actually furnished to the matgagee, or directed to said awner at ~ said mortg,aged premises, and mailed by the United States mails, shall be.sufficient notice and demand in any ~ case arisiag under ~is iastruqienR a~d cequired by the provisiaas hereof or b'y~law. 14. The mo:t~agor further coveaants ihat shouW this matgage aad tl~e nde secured hereby not be eligible for insurance uader the National Housing Act witl~in from tbe date heceot (wriKen statement ~ of any officer d the Depadmeat of Housing and Urban Developroent or a~horized agent of tbe Secretary oE Hous- ~ ing and Urban Qevelopment dated sabsequeat to~ tbe ~~Y$ time from the date of this mortgage. ~ decli~ing to insure said note and tbis mortgage, beiag deemPd cooclusive proof af such ineligibility), the mortga- ~ gee or the holder d tbe note o~ay, at its optioa, declare all sums secured hereby immediately due and poyable. ~ The coveaants haeia cantained shall biad, and the beuefits and advantages shall iaure to, tbe cespective • heirs, e:ecutors, administrators, successocs, and assigr~s of the parties hereto. Whenever used. the singuler num- ~ ber shall include the plural, the plural the singular, and the use ot any gender shall include all gertders. ~ ~ ~ ~ . ~ ~ _ . ~ ~ ~ . ~o~acl8g ; : ~ ; ~ ~ . ~ - r - - _ _ _ - - _ a„y~ * ; ~ , .'~w'~~~~~~~~~:~[~~ _ . _ ~