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Home My WebLink About0640 ± ~ , j f ~J. . ) S. That he aill permit, commit, or sufter no veaste, impairment, or deterio~ation of said properly ar any part thereut; and in the e~•ent ot the failure u[ the mortgagor to keep the buildings on said p~emises and those tobe etected on said premises, or imp~o~•ements thereon, in good repair, the mortgagee may make such repaies as in its discretion it may deem necessary for the propet pcesen~s~tion the~eu[, and the full amount ot each and every such payment shall be immediatel~~ due and pay~able, and shall be secured by the lien of this mortgage. 6. That he will pay all and singular the costs, charges, and expenses, including reasonable lawyec's tees, and costs of abst~acts o( title, incu~red or paid at any time bythe mottgagee.because of the failu~e ~n the part of the mortgagor promptl~• and full~~ to perform the agreements and covenants of said ~p~omissory note and this mort- gage, and said costs, charges, and expenses shall be immediately due and pa~~able and shall be secured by ihe , lien of this mortgage. i. That he will keep the impravements now existing or hereafter erected on the mortgaged prope~ty, insured as ma~• be tequired from time to time by the mortgagee against loss by fire and other hazards, casualties, artd contin- gencies in such amounts and for s~ch pe~iods as may be required by mortgagee, and will pay promptly, when due. an~• premiums on such insurance tor payment of which provision has not been made hereinbefote. All i~surance shall be carried in companies approved by mortgagee and the poticies and renewals thereof shall be held by mort- ~agee and ha~~e attached thereto loss payable clauses in favor of and in form acceptable to the mortgagee. In event ot locs he will give immediate notice by mail to mortgagee, and mottgagee may make proof of loss if not made promptly by mortgagor, and each insurance company concerned is hereby authorized and directed to make pa~~ment for such loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance pro- ceeds, or any part theceot, may be applied by mortgagee at its option either to the reduction of the indebtedness hereby secu~ed or to the restoration or tepair of the property damaged. In event of foreclosure ot this mortgage or other transEer of titte to the mottgaged property in extinguishment o[ the indebtedness secured hereby, all right, title, and interest of the mortgagor i~ and to any insurance policies then in force shall pass to the purchase~ or grantee. 8. That the mactgagee may, at any time pending a suit upon this mortgage, apply to the court having jurisdic- tion thereof fo~ the appointment ot a receiver, and such court shall forthwith appoi~t a receiver of the premises co~~ered hereby all and singular. including all and singular the income, profits, issues, and revenues from whatever soarce derived, each and et•ery o( ~hich, it being expressly understood, is hereby mortgaged as if specifically set forth and described in the granting and habendam clauses hereof, and such receivet shall have all the broad and effecti~•e functions and powers in any~wise entrusted by a cour: to a recei~~er, and such appointment shall be made b~~ such cou:t as an admitted equity and a matter of absolute right to said mortgagee, and without reference to the adequac~• or ~nadequacp of the ~•alue of the property mortgaged or to the solvency or insolvency of said mortgagor or the detendents, and that such rents, profits, income, issues, and re~aueE shaH be•applied by such receiver according to the lien of this mortgage and the practice of such court. ln the event of ariydefaulR on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reasonable monthly rental for the premises an amount at least equivalent to one-twelfth (1!l2) of the aggregate of the twelve monthly install- nents pa~~able in the then current year plus the actual amount ot the annual taxes, assessments, water rates, and insurance premiums for such year not covered by the afocesaid monthly payments. 9. That i~, i in the event of an~~ breach oE this mortgage or default on the pad of the mortgagor, or (b; in the e~•ent that an~• of said sums of money herein referred to be not promptly and fully paid without demand or notice, or in the event that each and every the stipulations, agreements, conditions. and covenants of said note and this mortgage, are not dulp, promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned in said note then remaining unpaid, vvith 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 all of the said sums of money were originally stipulated to be paid on such day, anything in said ~ note or in this mortgage to the contrary notwithstanding; and thereupon or thereafter, at the option of said mortga- gee, without notice or demand, suit at law or in equity, may be prosecuted as if all moneys secured heteby had ~ matured prior to its institution. The modgagee may foreclose this mortgage. as to the amount so declared due and ~ pa~•able, 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 of this mortgage, the mortgaged premises shall be sold subject to the con- q 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 therea[ter Erom time to time by the mortgagee. 10. That the mortgagor will give immediate notice by mail to the mortgagee oE any conveyance, transfer, or change of ownership of the premises. ~ ll . That no waiver of any covenant herein or oE the obligation secured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the note secured heceby. 12. That if the mortgagor default in any of the covenants or agreements contained herein, or in said note, then the mortgagee may perform the same, and all expenditutes (including reasonable attaney's Eees) made by the mortgagee in so doing shall draw interest at the rate set forth in the note secured hereby, and shall be repayable immediately and Nithout demand by the mortgagor to the mortgagee, and, together with interest and costs accruing thereon, stall be secured by this mortgage. ~ 13. that the mailing of a written notice or demandaddressed to the owner of record of the mortgaged premises, ~ or direcied to the said owner at the last address actualiy furnished to the mortgagee, or directed to said owner at ~ said mortgaged p~emises, and mailed by the United States mails, shall be sufficient notice and demand in any ~ ~ case ausing under ihis instrument and required by the provisions hereof or by law. ~ la_ The mortgagor furthet co~enants that should this mortgage and the note secured hereby not be eligible ~ for insurance under the hational Housing Act within from the date hereoE (written statement 3 of ene afficer of the Department of Housing and Urban Develop m_ent or authorized agent of the Secretary of Hous- ing and l;rban Development dated subsequent to~ the ~ L~~ time from the date of this mottgage, ~ declining to insure said note and this mortgage, being deem~~d conclusive proof of such ineligibility), the mo~tga- ~ ~ gee or the holder of the note may, at its o~tion, declare all sums secured hereby immediately due and payable. The covenants herein contained shall bind, and the bene[its and advantages shall inure to, the respective heirs, executors, administratqrs, successas, and assi s of the adies hereto. Whenever used. the sin ular num- ~ B~ P g ber shall include the plural, the plural the singular, and Che use of any gender shall include all genders. s~> x~ u- y~ s~ F y~~ g~i91 639 $x~ ~ ~ ~ ~ . . ~ . . s.=~ . . . a. . . _ ~ ~ - -