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Home My WebLink About2225 . ~ • ~ . : • " - . • • . • . • ~ • ~ `r~ ~ S. Thut he w~ll pc~m~t, commit, ot sutte~ oo waste, impa~rment, o~ dcter~otat~on o( ra~d propeHy o~ any p~~t thereo(; and in ~he event of the failure o[ the n~ortgagor to keep the buildines on sa~d prcm~ses and tMoie tobe erected on said premises, ot ~mpcovements theteon, ie good repair. the malgagee awy nwke such ~epoi~s ~s ~n its disc~etion it may deem rtecessary tot the ptopet preservation thercoi, and the full aawuM o( each and every such ~ payment shall be immediately due and payeble, and shall be secured by the lieo of th~s mottgage. 6. That he will pey all and singuler the costs, charges; and expe~ses, including teaso~able lawyer's fees, end costs of abstcacts of title, incurred oc peid at aey time by the mortgagee beceuse o[ the fa~luce o~ the pv~t ot the mo~tgagoc promptly and fully to per[orm the agceements and covenants of said promissoty note and this mort- gage. and said costs, cha~ges, end expenses shall be immediately due and payable and shali be secured by the lien of this mortgage. 7. That he will keep the improvements now existing a hereatter erected on the matg,r+ged pcoperty. i~sured as may be required from time to time by the moctgagee against loss by tire and other hasards. casualties. and contin- ge~cies in such amounts and tor such periods as may be required by matgagee. and aill p~y promptly. when due, any premiu~ns on such insurance for payment oE which pcovision has not beea made hecei~befae. All insuranre shall be carried i~ companies epproved by moctgagee and the policies and renewais thereof sha11 be held by mat- gagee and have attached thereto loss payable clauses in favor of and in form acceptable to the mo~tgagee. In event o( loss he will give immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly by mwtgagor, and each insurance company concerned is hereby authorized and directed to make payment for such loss directly to mortgagee instead of to mortgagoc and mortgegee jointly, and the insucance pro- ceeds, or any part theceof. may be applied by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair ot the property damaged. In event of foreclosure of this mortgage or ~ other transEer of title to the moKgaged property in extinguishment of the indebtedness secured hereby. all right. title, and interest of the morlgagoc in and to any iosurance policies then ~in force shall pess to the purchaser oc grantee. 8. That the modgagee may. at any time pending a suit upon this mortgage, appiy to the court having jurisdic- . tion thereof fa the appointment af a receiver. and such court shall forthwith appoint a receiver of the premises covered hereby all and singuler. iacluding all and singular the income. profits, issues. and revenues from ~rhatever source derived, each and evety of which, it being eYpressly understood. is hereby mortgaged as if specifically set farth and described in the granting and habendum clauses hereof. and such receiver shall have all the broed and effective functions and powers i~ anywise entrusted by a court to a receiver. and such appointment shall be made by. such court as an admitted equity and a matter of absolute right to said mortgagee. and aithout reference to the adequacy or inadequacy of the value of the propedy modgaged or to the solvency or insolvency of said mortgagar or the defendents, and that such cents. pcofits, income, issues. and revenues shall be applied by such receiver according to the lien of this mortgage and the practice of such coud. In the event of any default on the pad of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reasonable monthiy rentel for the premises an amount at least e94ivalent to one-twelEth (1/12) of the aggregate of the twelve rtwnthly install- ments payable in the then rurrent year plus the actual amount of the annual taxes, assessments, water rates, and insurance premiums for such year no~ covered by the aforesaid monthly payments. 9. That (u/ in the event of any•bfAech of this modgage or default on the ped of the modgagor, or [b) in the event that any of said sums of money.herein referred to be not promptly and fully paid aithout demand or notice, or (~1 in the event that each and every the st'ipulations. agreemeats, conditions. and covenants of said note and this mortgage, are not duly. promptly, and Eully performed; then in either or any such event, the said aggregate sum mentioned in said note then rem'sining 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 moctgagee, as fu21y and com- pletely as if all of the said sbq,s ~of, e04ey were originally stipulated to be paid on such day. anything in said note or in this modgage to the'cantrary notwithstanding; and tbereupon or thereatter. at the option of said matga- 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 modgagee may foreclose this mortgage. as to the amount so dectared due and payable, a~d the said premises shall be sold to satisfy and pey the same together with costs, expenses.and alloar- i ances. In case of partial foreclosute of this mortgage, the mortg,aged premises shall be sold subject to ihe 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 availed of thereafter from time to time by the mortgagee. 10. That the mortgagor will give immediate notice by mail to the modgagee oE any conveyance, transfer, or ~ change of ownership of 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, oc in said note, then the moctgagee may pedorm the same, and all expenditutes (including reasonable attorney's fees) made by the mortgagee in vo doing shall dcaw interest at the rate set forth in the note secured hereby, and shall be repeyable immediatelg and without demand by the mortgagor to the modgagee, and, together with interest and costs accruing ~ thereon, shatl be secured by this mortgage. 13. that the mailing of a written notice a demandaddressed to the owne~ of record oE the mortgaged premises, ~ or directed to the said owner at the last address actually furnished to the modgagee, or directed to said o~vner at ; said mortgaged premises, and mailed by the United States mails, shall be sufficient notice and demand in any i case atising under this instrument and required by the provisions hereof ot by law. ti ~ 1.4. The modgagor further covenants that should this moctgage end the ~ote secured hereby not be eligible for insuraace under the National Housing Act within 3p ~Y~ from the date hereof (written statement ~ ~ of any officer of the Department of Housing and Urban DeveTopmen or authorized agent of the Secretary of Hous- ; ing and Urban Qevelopment dated subsequent to~ the time from the date of this mortgage, ( ~ declining to insure said note and this mortgage. being deem•~d conclusive proof of such ineligibility), tbe mortga- ~ gee or the holder of the note may, at its option. declare ali sums secured hereby immediately due and payable. ~ The covenaets herein coatained shall bind. and the benefits a~ edvantages shall inure to, the respective ? ~ heirs, executors, administrators, successocs, aad assigns af the parties hereto. Whenever used, the singular num- ~ ~ ber shall include the plural, the plural the singular, and the use of any gender shall include all genders. ~ ~ ~ ~ ~ ~ ~ i ~ ~ ~ i89 ~2218 ~ . . ~ ~~i'ti 4 ' : _ - ~ ~ ~ .J }.i~.~ ~ . F' 't. W': r~.~n ~~~$~s~z~.~u, y.,.~~~''~k~J."~.,_..i:- . ~~~'~'7L^e~~4_' _