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Home My WebLink About2954 i i F t ~ 5. Th~t he will pe~mit. comn~it. or sufter ~o waste~ impoitmeet. ot d~terior~tion ot s~id ptopctty a any pon i thercot; •nd in the evcnt ot the tnilute oI tha mwt~atot to keep the buildin~t on s~id promises end those tob~ ~ e~ected oe sa~ premises. ot i~up~oveeMntt thereon~ in ood rsp~'v~ mort ew awke auch ro ! ~u ,th~ ~tee y p~ irs as in its discrelioa it m.y dee~ ~a..~y t« che ~o~ ~ialioa t~~ and Ih~ tuli •mouot o( each and evecy such ~ poYment slwll be iwmcdiately due and p~y~bk, aa~~kh~ll be secured by the lie~ ot this mort~o`e. 6 That he wiil pey all and singula~ the casta. chor~es, and expeases. including teaso~oble Ipwyer's [ees. and costs of •bst~acts ot title. incu~red or p~id at ~ny time bythe mortgasee because oi the feilu~e oe the pprt of the mortgogor p~omptly and fully to perfam the aeceements and covenants ot said ~promissocy note and this mott- ! gage, and soid costs. clwrges, and expenses shall be imaiediately due and poyeble and shatl be secured by the i lien d this mortgage. ~ 7. That he will keep the impcovements now existing a hecealter eracted o~ the mort~aged p~openy~ insured as y may be requiced f~om time to time by th~ mottgagee agaiast .loas by fire and othec hasards. casualties, and co~tin• ~ gencies in such amounts and for such perfods as awy be cequired by mortgagee. aad will pey promptly. when due, t eny premiums on such insurance for poymrnt of which provision has not beee made hereiebefae. All insurance ? shall be carried in compenies approved by mortgpgee and the policies and renewals thereof shall be held by mat- ~ gugee a~d have attached thereto loss payable clauses ia fevor of'and in form accepteble to the modgagee. In event o[ loss he will give immediate notice by meil to mortg,egee. and mortgagee may make prooE of loss J not made promptly by mortgagor. and each insurance company coocerned is hereby authori~sed and directed to make payment for such loss dicectly to mortgagee i~stead of to mortgagor and mortgagee jointly. ard the iasurance pro- j ceeds. or any part thereof. mey be applied by mortgagee at its option either to the reduction of the indebtedness ! hereby sccured or to the restoratiot~ a rep8ir of the property damaged. In event of foreclosure of this mortgage or " other transfer of titte to the mortg,aged propedy in extinguishment oE the indebtedness secuced hereby. all right, titte, and interest of the mortgega in and to eny insurartce policies then in focce shall pess to the purchaser or - grentee. ~ 8. That the matgagee may~ at any time pending a suit upcm this moctgage. spply to the coud having jurisdic- tion thereof for tl~e appoiatment of a receiver. end such coud shell forthwith appoint e receiver d the~pcemises 1 covered hereby all and singular. includiAg all and singular the income, profits. i.s~pe qnd~e venues Erom whatever source derived. each and every of which. it being exp~essly understood, is hereby mo~~sged as if specifically set fodh and described in the grenting and habendum clauses hereof. and such receiver sha11 have all the broad and effective functions and powers in anywise entrusted by a court to a ceceiver. and such appointment shall be made by such court as an admitted equity and a matter of absolute right to said moctgagee. and withoqt reference to the adequacy or inadequacy of the value of the property mortgaged or to the.solvency oS iqaol~oCnc~r,of said mortgagor or the defendents, and that such rents, profits. income, issues. and revenuea shall be q~pli~d by such receiver according to the lien of this moctgage and the practice of such coud. In the event of any default on the part of the mortgagor hereunder, the moctgaga agrees to pay to the mortgagee oa deownd as e teasaia'ble aioathly rental for the premises an amount at least e94ivelent to bne-twelfth (1/12) of the aggRegate d the twelve monthly install- ments payable in the then current year plus the actual amount of the snnual taxes. assessm4nts, ~rater rates, and insurance premiums for such year not covered by the aforesaid monthly payments. 9. That (01 in the event of any breach of this mortgage or deEault on the part of the mortgagor, or (6/ in the event that any of said surQS oE moaey herein referred to be not promptly and fully paid without demand or notice. or (cl in the event thet each and every the stipulations. agreements, conditions, and cove~ants of said note and this mo~tgage, ace not duly. promptly, and fully performed; then in either or any s~h event. the said aggregate sum mentioned in said aote then remaining unpaid. with interest accrued to that time. and all moneys secured hereby. shall become due and payable forthwith. or thereaher, at the option of said matgagee. as fully and com- pletely as if alt of the said sums of money were originally stipulated to be peid on such day. anything in said note or in this modgage to the contrary notaithstanding; and thereupon or thereafter. at the option of said matga- gee, vvithout notice or demand, suit at law or in equity. may be prosecuted as if all moreeys secured heceby had matured prior to its institution. The mortgagee may foreclose this mortgage, as to the amount so declared due and payable. end the said pcemises shall be sold ta satisfy and pey the same together ~vith costs. expenses.and allow- ances. In case of pectial foreclosure oE this mortgage. the mortgaged puemises shall be sold subject to the con- tinuing lien of this mortgage for the emount of tbe debt not then due and unpaid. In such case the provisions of ~ this peragraph may again be availed of thereafter from time to time by the mortgagee. ~ 10. That the modgagor will give immediste notice by mail to the mortgagee of any conveyance. transfer, or ~ ' change of ownership of the premises. ; ' 11. That no waiver of any covenant fierein or of the obligation secured hereby shel! et any time thereafter be i held to be a aaiver of the terms hered or of the note secured hereby. ! 12. That-if the mortgagor defeult 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 ettorney's fees) made by the ; mortgagee in so doing shall draw interest at the rate set fath in the note secured hereby, and shail be repayable ~ immediately and without demand by the mortgagor to the mortgagee, and, together with interest and costs accruing ~ ; thereon~ shall be secnred by this modgage. ~ ~ ; 13. that the mailing of a written notice a demandaddressed to the owner of recocd of the modgeged premises, F ~ or directed to the said owner at the last address sctually furnished to the mo~tgagee, or directed to said owner at : ; said modgaged premises. and mailed by the United States mails, shall be sufficient notice and demand in any ' ~ case arising under this instcument and cequired by the provisions hereof oc by lew. ° ~ 14. The mortgagor further coveaaats that should,this mortgage aad the note secured hereby not be eligible ~ s for iasucance under the Natiez~al Housing Act within vayx fcom the date hereaf (written statement j of any oEficer of the Department oE Housing and Urban ve opment or authociaed agent of the Secretary of Hous- i ing and Urban Development dated subsequent to~ the (j'~1y I~aya 'time fwm tbe date of this mortgege. declining to insuce said note and this mortgage, being deemed coaclusive prooE of such ineligibility), tbe mortga- gee or the holder af the note may, at its option, declare all sums secured hereby immediately due and peypble. The covenants herein contained shall bind, and the benefits aad advantages shall iaun to, tbe respective j heics, executors, administrators, successors, and essigns of the Qarties hereto. Whenever used, the singular num- ` ber shall include the plural, the plural the singular, and the use of any gendec shall include ell genderss. t r . ~ ` ~ E 1 ; ~ ~ Y 'i t F a ~t ~ ~ _ ' ~-`~n'~....,y.._~. a .a , - ~ _ sr ~