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Home My WebLink About2122 ~ . ~ ~ ~ . • ~ E TAat he will pe~mit. canm~t. ar sulfeE"n~ i~c. ~iA~i~~A~ a deter~oratioe ot said ptopeMy ot aoy p~n thereof; and in the cvent o( thc foilure of tAe ~uo~t(~~ot t0 !ep tGe buildi~s on said premises •td thos~ tobe ~ ererted on aaid premises. or improvemenls thereon. in ~ood rcpair, the mattp~ee may rtwke such rcppi~s ps in its discretion it awy dees oe~.~ess~ry fa the pwper preserv~tioe thereo(, and the full amount o[ each ~nd eve~y such payment shoU be immediately due •nd p~~~able, snd shall be securcd by the lien of this mortgage. 6. That he aill poy all aad singular tl~e costs. char~es. ae~d expenses, Including reaso~able l~wye~'s tees, and costs of abstrncts of title. iacucred or paid at any time by the matga~ee because of the faitute on the poct ot the matg~goc proa~ptly aod fully to perEo~m tbe agreements and coven~nts of said ~promissory note and this mort- ~ eage, aad said ca~ts, ch~cges, and expenses slwll be imniediately due and peyable and shall be secu~ed by the lien d this mortgage. 7. That he will keep the improvements now existing o~ hereofter e~ected on the matge~ed pcopedy. insured as may be ~equind from time to time by the mortgagee against loss by fice and other lwsards. casualties. and contin- gencies in such amounts and foc such periods ~ may be required by matgagee. and wilt poy promptly, ~vhen due. any premiun~ on sucb insurance foc payment of ~rhicb pcovision has eot beea made heceinbefoce. All insurence shall be carried in companies approved by matgagee and the policies and renewals thereof shali be held by mart- gagee and have attached thereto loss payable.clauses in favor of end in fam acceptable to the mort~agee. ln event o[ loss he will give immediete notice by meil to matgagee. ard mortgagee may make proof of loss if not made promptly by matgagor. and each ir~sucance compa~y caicerned is heceby suthorised and directed to make payment for snch loss directly to moctgagee instead of to mateagoc and moctgagec jointly. aed the icisuranct pro- ceeds. oc any part thereof. may be applied by mortgagee at its vption either to the reduction of the indebtedness herebq secured or to the restoratiQn or repair of the property damaged. In event of foceclosure of this modgage a other transfer of titk to the matpged pcoperty in extipguishmeat d the indebtedness secured heceby. all right. title, and interest of the matgagar in and to eny insucance policies then i~ force shall pess to the purchaser oc grantee. ` 8. T'hat the mortgagee may. at any time pending a suit upon this mortgage~ apply to the court having jurisdic- tion thereaf for the appointmeat aE a receiver, and such court shall forthwith appoint_a_receiver of the pcemises cavered hereby all aad singular. iacludiag all and singulsr the income. proEits. issues, and revenues from ~vhatever source derived, each and ewery of which, it being.espcessly understood. is hereby moetpged as if specifically set fodh and described in the greating snd habendum clauses hereof. and snch receiver sh~~l~~rl:all~the broad and effective functions and powers in anywise entrusted by a court to a receiver. and such A~ i~tioen~ s6a11 be made by such caut as an admitted equity and a matter oE absolute rigbt .to said mortgagee. and aithout refecence to the adequacy or inadequacy of the vetue of the pcope~ty ma:tgaged or to the solvency oc insolvency of said mortgagor or the defeadents, aad thet such reats. pcofits, income. issues, and reveaue~ it1~11 be applied byys~h receiver according to the lien of this mortgage and the practice of such cou~t. in the event oE any default on the pad of the a?odgagar hereunder, the matgagac agrees to pey to the mortgagee oa demand as a ce~sa~able moathly reatal for the premises an amount at least equivalent to oae-taelfth (1/12) of the agg~egate af the twelve nont6ly install- ments Fayable in the then carrent year plas the actual amouat of the aaaual ta~ces, assessments. water c~tes. aad insurance premiums for such year nat covered by the aforesaid moathly peymeats. : 9. That (0/ in the event of any ~each of this modgage or default oa the ped of t6e mortg,ago~. or (b) ia the event that any of said sums of money herein referred to be not pmmptly and #ully peid ~vithout demand or notice. or (~1 in the event that each and every the st'ipulations. agreeioents, coaditioas, aad covenants of said note and this mortgage, are noi dulv~ promptly, and fully performed; then ia either oc eay snc6 eve~, tbe said aggregate • sum mentioned ie said aote then remeining unpaid, with intecest acctued to tbat time, aod all moaeys secuted hereby, shall become due and payable forth~ith, a thereaFter. at the optioa of said mactgagee, as fnlly atd com- - pletely as if all of the said sums of money were originaliy stipulated to be p~id aa sucb day. auyt6ing ia said note or in this mortgage, to the contrary ndwithstanding; aad thereupon a thereafter, at tl~e optioa of said ma[tga- gee, withaat notice or demand. suit at law or in equity, may be prosecuted as iE all moaeys secured l~ereby had 'i matured prior to its iastitution. The mortg,egee may foreclose this matgagt, as to the amount so declared due and ~ payable, and the seid premises shail be sold to satisfy and pay the same togetber with costs, e:peases.and sllo~v- ~ ances. In case of partial foreclosnce of this mo~tgage, the matg,~ged premises shell be sold subject to tbe con~- tiauing liea of this mortgage far the amrnuit of the debt not thea due and onpaid. Ia snch case the provisions of ( this paragraph may a6sia be availed cf theresfter from time to time by the mortgagee. ~ € 10. That the matg,agac will give immediete aotice by mail to the mortg~agee of any canveyance. transfer. or - change of o~vaership of the premises. 11_ 'i'hat no ~raiver of any covenant hecein or of the obligation secured hereby shall at aay time theceafter be held to be a~raiver of the terms hereef o~ of tbe note secured hereby: 12. T1wt if the matgagor default ia any o[ the covenants a agreemeats contained bereia, ar in said nde, then the mortg,agee may pecform the same, aad all expeuditu~es (includiag reasonable attaney's fees) mpde by the mortgagee in so doin6 shall draw interert at the rate set faRh in tbe note secured hereby. aal shall be repoyable immediately and vvithout demaad by tbe mortgagor to the mortgagee. and, together ~vitb inierest and costs accruipg therean, shall be secured by this modgage. 13. thet the maI}ing of a arittea notice ur demandaddressed to the ovvner of recard ot the mortgaged premises, or directed to the said oaner at the last address actually furnished to the matgagee, or directed to said owner at said mortgaged premises, and mailed by t6e United States maits, shal! be sufficient notice and demaad in any ~ case suising aader t6ir instrument aad required by the pcovi~ions hereof oc by law. • 14. Tbe mortgag~ fmther cove~~wts that sho~4d: t6i~ ~o~t~age an~!' tfie edte , secnied' 6e~eby not be eligible for insurance nnder the Natiooal Housin6 Act withi~ ~~~~q from tba date 6eseof (written statemeat ~ of any oHicer of the Deportmeot of Housing and Urbon DevelopmenT a,authorised agent af tbe Secretory af Hous- ~ ing and Ucbgq Dlevelogaieet da~ed subsequent io~ the ~~YS time from tbe date of this matg,age, ~ declining to insure said nde and this mortg,age, beins deem~d concfusive proof d such ineligibility), the mortga- gee oc the 6older d t6e note may, at its optian, declare all suma secured hereby immediately due and peyoble. The covenants bereie coatained shall bind, and tbe beaefits a~ advaMages ~ha1l iaure to, the respective heirs. e:ecutors, administrators, successocs, and assigt~s d tbe padies hereto. Whenever used, tbe singular num- ber shall inclode the plural, the plucal the singular, and the use of any gendec slwJl include all genders. ~ ~ ~ ~ ~ ~ ~ - ~ - ~ - w _ _ r a ~ ~ 2 ~ > _..,ti.. .v -:~:~~'~x` ."~_.,a.K.; . ,~.~t