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Home My WebLink About2496 e 1 t . . ' i S i ' ~ ~ ~ f . S. That he will pe~mit. commit. a~ sut[er no was~e, impai~ment, w dete~iaation ot said propeny o~ any port thereot; and in the event of the (ailu~e d tMn~~gor td~ ~~e buildings on s~id premises ood those tobe etected on said ptemises..or imptovement!'the . good're ~ he matgagee may awke such rcpeits es in its disc~etioo it nwy deem r~ecessery for the p~oper preaervation the~eot. and the tull amount of each and eve~y such i payment shall be immediately due and payebie, and shall be secured by the lie~ ot this mortgage. ~ 6. That he will pey al! and singuler the costs. charges. and expenses, inciuding reasoaeble lawyer's (ees, ; and costs of abstracts o( title, incurred or peid at e~y time by the mortgagee .because of the failure on the port d the mortgagor promptly a~?d Iully to pe~fam the agreements and covenanta oE said 'promissory note and this mwt- gage, and said costs. cha~ges, and expenses shall be immediately due and peyeble and shell be secured by the lien uf this mortgage. . 7. That he will keep the improvements now existing or heceatter erected on the mottgaged propecty. insured as may be cequi~ed from time to time by the mortgagee against loss by fice and other hazards. casualties. and contin- gencies in such amounts and for such periods as may be required by mortgagee. and will pay ptompUy. when due. any premiu~s on such insurence for payment of which pcovision has not been made hereinbefore. All insucance shall be carcied in companies approved by mortgagee and the policies e~d renewals thereoE shall be held by mort- . gagee and have attached thereto toss payable clauses in favor of and in form acceptable to the modgage~. In event of loss he will give immediate notice by mail to moctgagee. and moMgagee may make proof of loss if not made promptly by mortgagor, and each insurance company concerned is hereby authorized and directed to make payment foc such loss dicectly to modgagee instead of to mortgaga and mortgagee jointly. and the insurance pro- ceeds. oc any part thereof. may.be applied by mortgagee at its option eithec to the reduction o[ the indebtedrtess hereby secured or to the restoration or repair of the propetty damaged. In event of forectosure of this mortgage oc other transfec of title to the mortgaged property i~ extinguishment oE the indebtedness secured hereby. all right. title. and interest of the mortgago~ in and to any insurance policies then in force shall pass fo the purchaser a grantee. - 8. That the modgagee may, at any time pending a suit upon this~mortgage. apply to the court having jurisdic- tion thereof for the appointment of a receiver. and such coud shall forthwith appoint a receiver of the premises ~ covered hereby all and singulac. including all and singular the income, profits. issues. and revenues from whatever source derived, each end every of which, it being expressly understood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereoE, and such receiver shall have all the broad and effective functioas 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 of absolute right to said modgagee. and without reference to the adequacy or inadequacy of the value of the property mortgaged or to the solvency a insolvency of said mortgagor or the defendents, and that such rents. profits. income. issues. and revenues shall be applied by such receiver according to the lien of this mortgage and the practice of such court. In the event ot any default on the pad of the mortgagor hereunder. the mortgagor agrees to pay to the mortgagee on demand as a reasonable monthly rental for the premises an amaunt at least eq~ivalent to one-twelfth (1/12) of the aggregate of the twelve monthly install- ments payable in the tt~e~i current year pius t~e actual amount of the annual taxes. assessments, water rates. and insurance premiums for such year not co~ered•by the aforesaid monthly payments. ~ 9. That (u/ in the event of any breeeh of this modgage or defeult on the pad of the modgagor. or (b~ in the event that any of said sums of money herei~ referred to be not promptly and fully paid without demand or notice. or (~J in the event that each and every the stipulations. egreements, conditions. and cover~ants of said note and this mortgage, are not duly. promptly. and•fully perEormed; then in either w any snch event. the said aggregate sum mentioned in said note then remaining unpaid, with interest accrued to that time, and all moneys secured hereby, shalt become due and payable forthwith. or thereafter. at the option of said mortgagee, as fully and com- pletely as if all of the said aums ;of money were originally stipulated to be paid on such dey, anything in said note or in this modgage to the~conttaiy~ notwithstanding; and thereupon or thereafter. at the option of said martga- gee, without notice or demand. suit at law or in equity. may be prosecuted as if all moaeys secuced hereby had matured prior to its institution. The mortgagee may foreclose this mortgage, as to the amount so declared due and 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 o[ this mortgage, the mortgaged premises shall be 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 mey again be availed of theceafter from time to time by the mortgagee. ~ 10. That the mortgagor aill give immediate notice by mail to the mortgagee of any conveyance. transfer, or E change of ownership of the premises. ~ ; r 11. That no waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be i ~ held to be a waiver of the terms hereof or of the note secured hereby. f ~ 12. That if the mortgagor default in any o[ the covenants oc agreements contained herein. or in said note, then { the mortgagee may perform the same, and all expenditutes (including reasonable attorney's fees) made by the ; ~ mortgagee in so doing shell draw interest at the rate set forth in the note secured hereby, and shall be reQayable ~ ~ immediately and without demand by the modgagor to the mortgagee, and. together with interest and costs accruing ~ thereon, shall be secured by this modgage. ~ 13. that the mailing of a written notice or demand addressed to the owner of record of the matgaged premises, ~ or directed to the said owner at the iast address actually furnished to the modgagee, or directed to saidowner at , said mortgaged pcemises. and mailed by the United States mails, shall be sufficient notice and demand in any ~ case arisieg under this instrument and required by the provisions hereof or by law. x ; 14. The mortgagor fucth~r covenants that should this mortgage and the note secured hereby not be eligible ; for insurance under the Nattonal Housing Act aithin ~~YS from tbe date hereaE (written statement ` of any officer of the Depactment of Housing and Utban Deve opment or authorized agent of the Secretary of Hous- ~ ing and Urban Development,, deted subsequent to~ the ~~Y$ time from the date of this modgege, i declining to insure said note and this mortgage. being deemed concritsive proof oE such ineligibility), the mortga- ' gee or the holder d the note may, at its option, declare all sums secured hereby immediately due and payable. ~ The covenants herein contained shall bind, and the benefits artd advantages shall inure to, the respective ~ heirs, executors, administrators, successors, and assigns of the padies hereto. Whenever used, the singular eum- ~ ber shall include the plural, the plural the singular, and the use of any gender shall include all genders. ~ ~ w ~ ~ . ~ ~ . ~ ~ ~ 60~K ~ ~ ~ ~ ~ ~ ~ _ : - _ ~ ~ "°m-~"~.,~ ; • ~c~.R~~ _ _