The URL can be used to link to this page

Home My WebLink About2206 S. Tha? he w~ll pr~m~t, ccxnm~t, a Futfcr no w~ste, im u et, q dete~~or~t~o~ c~( ~a~d pro{KNy or„an~• }wrt ~ the~o(, ~nd ~e the e~-e~t o( the (a?lure o( t!?~ t ,tl+~( ~wid~ngw on sa~d p~cm~srs o~ thuse tube e~ected oo ~a~d Pceen~~es, or ~mpto~~ements theteon,•iA tbod te Mk mortg~gee mey make sa•h ~epc~tts a~ ~n ita d~scrct~oe it may deem neressaty (ot the praper presetvation thereo(, and the tull amount ot each and Pve~y such p~yment shall be immed~ately due and pa~~ble, and shpll be secured b~• the lien ot th~s nwrtgage. 6 That he wili poy all •nd siogulat the casts, chargea. and expenses, including reasoneble lawyec's tee`, and cacts o( abst~acts of title, mcurred or paid at any time by the mortg~~ee beceuse ot the toilure on the part ot the mortgagor promptly and tully to petfam the ag~eements and cove~ants of said promissory note and this mort- gage, a~ said costs. che~gec, end expenses shall be immediately due and peyable and shall be secu~rd by the lien o( this moctgege. 7. That he will keep the imp~ovements now existing a herea[ter ecccted on the mortgaged propeny, i~sured as may be t~equiced froa~ timt to time by the mottgagee egainst loss by fice aod other ha:erds. casualties, and contin- gencies in such amounts and fat such petiods as may be required by moctgagee. and will pay promptly. when due, any premiun~ oe such insura~ce (or payment of which provision has not bee~ made hereinbetore. Al) insurance shall be cacried in compenies approved by mortgagee and the policies and tenewals thereof shall be held by mort- gagee and have attached thereto loss payeble clauses in favor of and in form acceptable to the mo~tg,agee. In event of loss he will give immediate notice by meit to morigagee, end moctgagee may make proot of loss it not made promptly by mortgagor, and each insurance company coocerned is fieteby authorised and directed to make payment fa such loss dicectly to mottgagee instead of to mortgaga and moctgagee jointly. and the insurance pro- ceeds. oc any patt thereoE. awy be applied by matgagee at its option either to the reduction oE the indebtedness hereby secured or to the restoration ot repair of the ptopetty daewged. ln event of ftxeciosure of this mortgage or other transfer oE title to the mottgaged propedy in extinguishment o[ the indebtedness secured hereby, all right, title. aed interest o[ the moctgaga~ in and to any insurance policies then in force shall pess to the purchaser or grantee. 8. That the mortgegee may, at any time pending a suit apw~ this mortgage. epply to the court having jurisdic- tion thereaf for the appointment of a receiver, and such court shalt forthwith appoint e receiver o[ the premises covered hereby all ~nd singuler. including all and singular the income~ profits~ issues~ and cevenues from whatever source derived, each and evety of wf~ich. it being expressly und!~ ~ i~ beMby madgeged as if specifically set fo~th and described in the granting and habenduc~ clauses herear a~ such receiver shall have all the broad a~d effective functions and powers in anywise entrusted by a court to a recei~er, and such appointment shall be made by such court as an edmitted equity and a matter of ebsolete tight to said portgagee. and without reference to the adequacy or inadequacy of the value of the propecty moctgaged or to the sbfve~cy or insolvency of said mortgag~x or the defendents, and that such rents, pro[its, income. issues. and revenuee aleell be applied by such receiver according to the lien of this mortgage and the practice of such couzt, ln the event of eny default on the part o[ the mo~tgagor hereunder, the martgagot agrees to pey to the mortg~agec on deinand as a reasonable monthly rental for the premises an amount at least eqpivalent to one-twel(th•(1/12) oE the eggcegate of the twelve monthly install- ments payable in the then current year plas the actual amount of the annual taxes. assessments, water rates. and ~nsurance premiums for such year not covered by the aforesaid monthly peyments. _ 9. That fa? in the event of any breach of this mortgage or default on the part of the modgagor, or (b) in the event that any of said sums of money herein referced to be not pcomptly and fully paid without demand or notice, or l~i in the event that each and every the st'ipulations~ agreements. coaditions. and covenants of said note and this mortgage, 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, ~rith iaterest accrued to that time, and all moneys secured • hereby, shall become due and payable forthwith, or thereafter, at t6e option of said matgagee. as fully and com- pletely as if all af 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 thereupon or thereatter~ at the option of said matga- gee, witlioat notice or demand. suit at law ar in equity, may be prosecuted as if all moneys secured hereby had ~ matured prior to its institution. The mortgagee may foceclose this mortgage. as to the amount so declared due and E payable, and the said Premises shall be sold to satisfy and pay the same together avith costs, expenses,and allow- ~ ances. In case of partial foreclosure of this moRgage, thr mortgaged premises shall be sold subject to the con- ; tinuing lien of this matgage for the emount oE the debt not thea due and unpaid. In such case the provisions of ~ this paragraph may sg,ain be svailed oE thereafter from time to time by the mortgagee. ~ 10. That the mortgagor will give immediate notice by mail to the mortgagee of any conveyance, trans(er, or ~ change of ownership oE the premises. ¢ 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 hereof or of the note secured hereby. ~ 12. That if the mortgagor default in any of the covenants or agreements contained herein, or in said note, then the mortgagee may pedorm the same, and all expenditu~es (including reasonable attaney's Eees) made by the moctgagee in so doing sholl draw interest at the rate set forth in the note secured hereby, and shall be repayable immediately and without demand by the ma4gaga to the mortgagee, and, together~with interest and costs accruing ~ thereon, shalf be secured by this mortgage. ~ 13. that the mailing of a written notice or demandaddressed to the owner of record of the mortgaged pcemises, or directed to t6e said owner at the last address actually furnished to the a~ortgagee, or directed to said owner at said mortg,aged premises, and mailed by the United States mail~, shall be sufficient notice and demand in any ~ case uising under this instrument and required by the pcovisions hereof or by lew. ~ 14. 'I'he modgagor further covenants that s6ould this moctgage and the note secuted hereby not be eligibte ~ for insurance under the National Nousing Act within ~YS from the date hereof (written statement ~ „ of any oEticet oE the Depertment of Housing and Ucban De~ ment or authorized egent of the Secretary o( Hous- ~ ing and Urban Development dated subsequent to~ the ~~YS time Erom the date oE this mortgage, ~ ~ declining to insure said note and this mortgage, being dee conclusive proof o[ such ineligibility), the mortga- ~ ~ gee or the holder o[ the note may, at its option, declare all sums secured hereby immediately due and payable. ~ 'the covenaats herein contained shall bind, and thr benefits and advantages shall inure to, the respective : s heirs, executors, administrators, successocs, and assigns d the parties hereto. Whenever used, the singular num- ; ber shall inctude the plural, the plural the singular, and the use ot any gender shall include all g~ndecs. - ~ ~ ~ ' ' ~ " " ' ~ , ~ ~ • ~ ~ . , ~ a X ~ ~ ~ i~~~ ~ ~ ~ ~ ~ - ~ ~ ~ : . :