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Home My WebLink About2858 • ••r. l. ' ' ~ i ~ { • ! . S• Tlw~ he M~~11 pcrm~t. comm~l, ot sulter no wost~. imp~~rn+ent, o~ dNenor~tioo of aa~d p~openy or any pa~t Ihereot; ~nd ~n the evcnt ot the (a~lure o[ Ihe mott~~ot to keep the build~n~s ou s~~d ptcmises aod thvse tobe erertrd on ~aid preu~ises. ot ~mptovements theteon. in sood cepair, the matga~ee nwy nwke such repoi~s es in its discret~on it nwy deem oecessa~y for the pcope~ preservatiou theKOt, aod the fuli amount o[ each and every such payment shall be imaiediately due and p~yabl~, aod shell be secured by the lien o[ this mort~oge. ~ 6. That he will poy all and singuiar the casts. char~es. •nd expenses. including reasonabie lawye~'s tees, and costa ot ~bstracts aI title, incu~red o~ poid at eny time bythe matga`ee because of the failuce on the pert ot the moctgagor pcomptly and fully to perform the agreements and covenants ot ~aid ~promissory note and this mo~t- gsge, aod said costs. clwrges, and expenses sholl be immedietely due and payable and shall be secuced by the lieo ot this mottgage. • ' ~ 7. That he will keep the improvements now existing or herea[ter erected on the woctgaged propedy. insuned as may be cequiced from time to time by the matgagee against loss by fire and other hazards. cesualties. and contin- gencies in such amounts and for such periods as may be rcquired by mortgagee. and wilt pay promptly. when dae, any premiuc~s on such insurance for payment oE ~rhich provision has not been made hereinbefore. Alt insurence shall be carried io companies epproved by moctgagee and the policies and renewals thereof shail be held by mort- gagee and ha~e' attached thereto loss payable clauses in favor of and i~ form acceptable to the modgagee. In event of loss he will give immediate notice by mail to matgagee. and mottgagee mey make proof of loss if not made pcomptly by mortgega, and each insurance company concemed is hereby authocized and directed to make payment for such loss directly to mottgagee instead of to mortgaga and mottgagee jointly. and the insurance prw ceeds. or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness he~eby secured or to the restoratiae oc repair of the property damaged. In event of foreclosure of this moctgage or other t~ansfer ot title to the mortgaged property in extingaishme~t of the indebtedness secured heceby. all right, title. sr.d intecest of the matgagar in and to any insurance policies then in focce shall pass to the purchaser or grantee. 8. That the mortgagee may. at any time pending a suit upon this mortgage. apply to the court having jurisdic- tion tt~ereof for the appointment of a receiver. and such court shall forthwith eppoint a receiver of the pcemises covered heceby all and singular, including s11 and singular the iqcome. profits. issues, and cevenues f~om whatever source derived, each and every of which. it being~.+xpressly understood. is hereby.mortgaged as if specifically set forth and described in the granting and habendum clauses hereof. and such receive~ ~~11 fh~ve; all the broed and effective functions and powers in anywise entrusted by a court to a receiver, and such appointment shall be made by such coud as an admitted equity and e matter of absolute right to said mort~agee; and ~rithopt tefetence to tlte - adequacy or inadequacy of the value of the propedy mortgaged or to the solvency oc insolvency of 3aid mortgagor oc the defendents, and that such rents, profits. income, issues, and tevenues shall be applied by such receiver according to the lien of this mo~tgage and the practice of sach coud. In the event of any default on the part of the mortgagor hereunder, the mortgagor agcees to pay to the mortgagee on demand as a reasooeble. moathly rental for the premises an amount at least eq~ivalent to one-twelfth (1/12) of the aggregate of the twelve nwathly install- ments payable in the then current year plus the actual amount of tbe annual taxes. assessments. aater rates, and insurance premiums for such year not covered by the aforesaid monthly payments. 9. That (a! in the event of any breach of this mortgage or default on the pad of the modgagor. or (b~ in the event that any of said sums of money herein referred to be not promptly and fully paid without demand or notice. or (r1 in the event that each and every the st'ipulations. agceements. conditio~, and covenents of said note and this mortgage, are not duly. promptly, and Eully performed; then in either or any such event. the.said aggtegate 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, or thereafter, at the option of said mortgagee. as fully and com- pletely as if a11 of the said sums of money vvere originally stipalated to be paid on such day, anything in said note or in this modgage to the contrary notwithstanding; and thereupon or thereafter~ at the option of said matga- gee, without notice or demand, suit at law or in equity~ may be prosecuted as if all moneys secuced hereby had matured prior to its institution. The modgagee may foreclase this mortgege. 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,a~d allow- ances. In case of partial foreclosare of this mortgage, the modgaged premises shall be sold subject to the con- ; tinuing lien of this mortgage foc the emount of the debt not then due and unpaid. In such case the ptovisions 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 raail to the mortgagee of any conveyance, transfer, or 4 ~ 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 t g hetd to be a waiver of the terms hered or of the note secnred hereby: F ~ 12. That if the mortgagor de[ault in any of-the covenants or agreements contained hetein, oc in said note, then ~ ~ the mortgagee may perfocm the same, and all expenditutes (including reasonable attorney's fees) mede by the ~ mortgagee in so dbing shall draw interest at the rate set forth in the note secured hereby, and shalt be repayable immediately and without demand by the modgaga to the mortgagee~ and, togethet with interest and costs accruing ~ thereon, shali be secured by this modgage. 13. that the mailin~of a written notice oc demandaddressed to the owner of record of the modgaged premises, ~ or directed to the said owner at the last address actually furnished to the modgagee, or directed to saidawner at ~ said mortgaged premises, and mailed by the United States mails, shall be sufiicient notice and demand in any ~ case arising under this instrument and required by the provisions hereof or by la~v. g 14. The mortgagor Eurther covenants that should this matgage and the note secured hereby not be eligible for insurance under the Natioaal Housing Act within from the date hereof (written statement _ of any officer of the Department of Housing and Urban De opment or authorized agent of the Secretary of Hous- ~ ing and Urban Developraeat dated subsequent to~ the ~~Y$ time from the date oE this moctgage, % declining to insure said note and this mortgage, being deem~d conclusive proof of such ineligibility), the_ modga- ~ gee o~ tNe holder d the note~owy, at its optioe~; deelere al~•auatis secured hereby immediately due and payeble. The covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective ~ heirs, executors, administrators, successocs, and assigns of the padies hereto. Whenevet used. the singular num- ~ ber shall include the plural, the plural the singular~ and the use of eny gender shall include all genders. f ~ , ~ ~ ~ , ~ ~t ~ ~ ~ 0~ 1~ 2~~9 - 6~OWC ~ - ~ ~ ~ ~ ~ ~ - ~ ~ ~ ~ . , , .._.,a . . _ . - ..~...s~. :