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Home My WebLink About2643 ~ ' ~ k S. Tha~ hr will pcr~ait, comm~t, cx sp~ff~~pate. ~~~nt. ot deterior~l~on d ca~d propeny or ~ny po~t ~ thcno(; xnd m Ihe eveol o( the teilure ot ~agot p the buiid~n~s on said pren~ises •nd those tobe erected on reid prcmises, or improvemeots thereoe. i~ good Mpuir. the mottg~~eeee may make such repeirs as in its ~ discrelion it m~y deem necessary iot the proper pt~servation tbered, end the tull omount oI each and evety such ~ poyment shall be immedialely due and poyeble, end shal! ~e secured by the lien at this mo~tga~e. 6. That he will pey all and singular the coBts. ch~?r~es, and expenses. including n,wscxi~ble Iswye~~s fees, 1 and ca~tR ot abstracts of title, incurced or paid at any tinse bythe matgagee.because ot the failure a? the po~t o( ; the moctgagor promptly and fully .to perfarm the agreements ond covenants of said ~promissory note a~d lhis mort- i gege, and said costs. charges, and expenses shall be immediately due and peyeble and shall be aecured by the lien of this matgegt. _ 7. That he will keep the improvements now existing ot hereatter ecected on the mo~tgaged property. insured as may be cequired fwm time to time dy the mortgagee against loss by fire and other hasatds. casualties. ~nd contin- gencies in such amot?nts and tor such periods as may be requiced by mortgagee. and will pay pranptly. when due, , any p~emiuRes on such insurance for peyment oE ahich provision hqs not been made hereinbetore. All insurance shall be carried in compenies approved by mortgagee and the policies and reoewals thereoE shall be held by mart- gagee and have attached thereto loss payable clauses in fevor of and in form acceptable to the moctg,sgee. I~ - event of loss he will give immediete notice by mail to mortg,agee, and mortgagee may make proof of loss if not made promptly by matgagoc. and each inswance company concerned. is heceby euthaised and directed to make payment for such loss dicectly to mortgagee instead of to mortgaga and mortgagee jointly. and the inrurance pco- ceeds. or any pad thereof. may be applied by mottgagee at its option either to the rednction of the indebtedness hereby secured or to the cestoration oc repair of the ptopedy damaged. ln event of foteclosuie oE this mortgage a other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right. title. end interest of the mortgagor in a~d to any insurance policies then in force shall pess to the purchaser a grantee. 8. That the mortgegee may. at any time pending a suit upon this mattgege. apply to the court having jurisdic- tion thereof for tl~e eppointment of a receiver, and such coud shall fathwith appoi~t a receiver of the pcemises covered heceby all and singular, including all and singular the income. profits, issues, and reve~ues from whatever source derived, each and every of which, it being expressly understoad~ is hereby modgaged as if specifical set forth and described in the granting a~d habendum clauses hereof._and such receiver shall have'~11tT~ b~and effective functioos and powers in anywis~.eat~usRed' ~yr a court to a receiver, and such appointa~ent shall be made by such coud as an admitted equity and a a~atter of absolute right to said mortgagee. and without refetence to the adequacy or inadequacy.~~be,value of the propedy mortgaged or to the solvency a insolvency of said matgaga or the defendents, and t~i~ =ych eent~s, ~it¢~ income, issues, and revenues shal! be applied by such receiver according to the tien of this moctgage and th! ~practice of such court. In the event of any defaalt oa the patt of the ~ modgagor hereunder. the matgagot ogceac to .pay to the modgagee on deawnd as a reasonable inonthly rente! foe the premises an amount at least eqpival~nt to one-twelfth (1/12) of the aggregate of the tovelve' awothly iactall=.. _ ments payable in the theA curceat year'lus the actual amount of the annual taxes, assessments. water rates. ~od instuance premiums for snch year not covet~d by the aforesaid monthly peyments. ~ 9. That (01 in the event of any breach of this mortgage or default oo the pa~t ot the modg,agor, or (b) in the event that eny of said sums of money herein referred to be not promptly and fully paid withont demand or notice, or (~1 in the event that eech and every the st'ipulations, agreements, conditions. and covenants of said note and this mortgage. are not duly. promptly. and fully pecformed; then in either or any such event. the said aggregate sum mentioned in said note then remaining unpaid. with interest accrued to that time. and all moneys secured hereby. shall become due and payable forthwith. oc thereafter. _at the option of said mortgegee. as fully aad com- pletely as if all of the said sums of money were originally stipulated to be paid on such day, anything in said note a in this m.:dgage to the contrary notwithstendiag; and thereupon or theteafter, at tbe optio~ d said matga- gee, without notice or demand, suit at law or in equity, may be prosecuted as if all moneys secuted hereby had ~I matured priar to its institution. The modgagee may foreclose this moctgage. as to the amonnt so declared due and payable. and the said premises shell be sold to satisfy and pay the samc together with costs, expenses,and allo~v- ances. In case of partial foreclosure of this moctg,age. the mortgaged pcemises shall be sold subject to the con- - tiauing lien of this mortgage for the amount of the debt not then due and unpaid. In snch case the provisions of this paragraph may again be aveiled of thereafter from time to time by the modgagee. 10. That the mortgagoc will give immediate notice by mail to the mortgagee of any conveyance, transfer, a change of ownership of the premises. 11. That no waiver of any covenant herein oc of the obligation secured hereby shall at any time thereafter be held to be a waiver of the terms herea[ or of the note secured f~ereby. 12. That if the mortgagor default in any oE the covenants a~ agreements contained herein, oc ia said note, then the mortgagee may perform the same, and all expenditutes (including reasonable attaney's fees) made by the modgagee in so doing shall draw interest at the rate set fath in the note secured hereby. and shall be repeyable immediately aRd without de~nand by the modgagor to the mortgagee, and, together with interest and costs accruiag thereon, shall be secared by this modgage. ~ 13. that the mailing of a written notice or demandaddre~s~ to the owner of record of the mortgaged premises. or directed to the seid owner at the last address actually furnished to the moctgagee. or dicected to saidawuer at ~ said mortgaged pcemises, and meiled by the Ueited States mails, shell be sutElcie~t notice and demand in aay case acising under this instrument and required by the pcovisiaas hereof or by la~r. 14. The mortgagor further coveaants that should this mortgage and the note secuced hereby aot be eligibk for insuraace under the Natianel Housing Act within ay,~ from the date hereof (aritten statement of any officer of the Department oE Housing and Urban Developmtn~ 6r authorized agent af tbe Secretacy of Hous- ing and Urban Development dated subsequent to~ tbe Thitty Day~s time from the date of this mortgage~ declining to insure" said nde and this moctgage, being deemed conclusive pcoof of such ineligibility), the mortga- gee or the holder af the note may, at its option. declare ell sums secured hereby Immediately due and payable. The coveaants herein conteined shell bind, and the beneEits and advanteges shall iaurc to, the tespective ; heirs, executors, administrators, successo~s, and assigns d the padies hereto. Whenevet used, the singular num- ~ ber shall include the plu~al, the plwal the singular. and the use of any gender shall include all genders. ~189 z349 ~ i89~ ~35 _ ~ _ ~ b A ~ _x r _ ~ _ . _