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Home My WebLink About0659 i . ; . . ~ That he w~iU prrmit, comm~t, or .u[[er no waste, impaitment, or deterioration of said property or any pa~t • thereof; and ~n the c~•~ nt uf the taih~re of the morigago~ to keep the buildings on said premises and lhose tobe er~~cted on said premises, or impro~•ement~ therron, in good repair, the mottgaKee mt~y make such ~epairs as in its discretion it may deem necessary; [ot the pcoper preser~~ation thereot, and the full amount of each and evety such pa~•ment shall be immediately due and paj~able, and shall be secu~ed by the lien of this mortgage. 6. That he will pay all and singuiar the cacts, rharges, and expenses, includi~g reasonable lawye~'s [ees, - and rosts o( abctracts ot title, incurred or puid at any time bythe mortgagee.because of the tailure on the pact of the murtgagor promptl~• and fully to petform the agreements and covenants of said prumissocy note and this mort- ' ga~e, and said costs, charges, and expenses shall be immediatel~• due and payable and shall be secuced by the ~ lien of th~s mottgage. i i. That he ~ill keep the improrements now ex?sting o~ he~eatter erected on the mortgeged property, insuted as ma~• be requ~ced from time to t~me by the mortgagee against tacs by fire ~+nd other hazards, casualties, and contin- gencies in such amounts and for such periods as may be requiced by mottgagee, and will pay promptly, when due, am• premiums on such in~urance for payment ot which pro~•ision has not been made hereinbefore. All insurance shall be carried in compan?es apnroved b~• moctgagee and the policies and renewals thereof shall be held by mort- } Kagee and ha~~e attached thereto loss pa}•able clauses in fa~~or of and in form acceptable to the moctgagee. In } e:•ent of loss he w•ill gi~•e immediate notice by mail to mortgagee, and moctgagee may make proof af loss if not ~ made promptl~• b~• mortgagor, and each insurance company concerned is hereby authocized and directed to make , payment tcx such loss directly to mortgagee instead o( to mortgagoc and mortgegee jointiy, and the insurance pro- f ceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness ; hereb~• secured or to the restoration or repair of the pcoperty damaged. ln event ot [oreclosure o[ this mortgage or other transfer of title to the mortgaged p~operty ~n exting~ishment ot the indebledness secured hereby, all tight, ~ title, and interest of the mortgaga i~ and to any insurance policies then in force 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 havi~g jurisdic- tion thereof Eor the appointment of a receiver, and such court shall forthwith appoint a receiver of the premises covered heceby all and singular. including all and singulac the income. profits, issues, and revenues from whatever source derived, each and every of which, it being expressly understood, is hereby mortgaged as if specifically set ~ forth and described in the granting and habendum clauses hereof, and such receiver shall have all the broad and ~ effecti~•e functions and powers in an~~wise entrusted by a court to a receiver, and such appointment shall be made b~ snch court as an admitted equitp and a matter oE absolute right to said mortgagee, and without reference to the adequac~- or inadequac~• o[ thg ~~al~e of the property mortgaged or to the sol~ency or insolvency of said mortgagor or the defendents. and that' su~,l1_rgqt~, profits, income, issues, and revenues shall be applied by such receiver accocd~ng to the lien of this mortgage and the practice of such coud. ln the event of any default on the pact of the :nort~agor hereunder, the morYga~oi agrees to pay to the mortgagee on demand as a reasonable monthly rental for . :he prer.:ises an amount at least equivalent to one-twelfth (1!12) of the aggregate of the twelve monthly install- ~ ments pa~able in the then cutrent year plus the actual amaunt of the annual taxes, assessments, water rates, and ~ ~nsurance prem~ums for such year not co~•ered b~~ the aforesaid monthly payments. ~ 9. That in the event o[ any breach of this mortgage or default on the pad of the modgagor, or (6~ in the ~ e~•ent that am• oE said sums of money herein referred to be not promptly and fully paid without dema~d or notice, ; or in the e~•ent that each and every the stipulations, agreements, conditions. and covenants of said note and , th~s mortgage. are not duly, promptly, and fully performed; then in either or any such event, the said aggregete sum mentioned in said note then remaining unpaid, with interest accrued to that time, and ali moneys secured 'i hereb}~, shall become dae and payable forthwith, or thereafter, at the option of said mortgagee, as fully and com- pletel~~ as if ali 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 corttrary~ notwithstanding; and thereupon or thereafter, at the option of said mortga- gee, w•ithout notice or dema~d, suit at laW ~r in equity, may be prosecuted as if all moneys secured hereby had r,~atured prior to its institution. The mortgagee may foreclose-this mortgage, as to the amount so declared due and ~ pay~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- : t~nuing lien of this mortgage for the amount of the debt not then due and unpaid. In such case the provisions oE ; ~ this paragraph nay again be availed of thereafter from time to time by the mortgagee # 10_ That the mortgagor w jll give immediate notice by mail to the mortgagee of any conveyance, transfer, or ~ change of ownership of the premises. 11 . That no waiver of any covenant herein or ot the obligation secured hereby shal! at any time thereafter be he3d to be a waiver of the terms hereof or of the note secured hereby. ~ 12. That if the r.i~rtgagor default in any af the covenants ot agreements contained herein, or in said note, then ~ the mortgagee may perform the same, and all expendituces (including reasonabie attorney's fees) made by the mortgagee in so doing shall draw interest at the rate set fath in the note secured hereby, and shall be repayable immediatel}• and without demand b}~ the mortgagor to the mortgagee, and, together with interest and costs accruing . thereon, shall be secured b~- th~s mortgage. 13. that the niailing of a written notice or demandaddressed to the owner of record of the mortgaged premises, cx directed to the said owner at the last address actually furnished to the modgagee, ot directed to saidowner at , ~ sa~d ~nortgaged Fremises, and mailed by the United States mails, shall be sufficient notice and demand in any ~ case arising under this instrumeni and required by the provisions hereo[ or by law. ~ 14. The mortgagor further covenants that should this mortgage and the note secured hereby not be eligible for ~nsurance under the National Housing Act within ~Q from the date heceof (written statement ~ of en~• officer of the Depa~Reuent of Housing ar~d l~rban Devel4P~aenTor authorized agent of the Secretary of Hous- , ~ ~ng and Urban Development dated subsequent to the time from the date oE this mortgage, 4~ declining to insure sa~d note and th~s mortgage, being deem~~d conclusive proof of such ineligibility), the mortga- ~ :?a gee or the holder d the not~=roay, at ~ts option, declare all sums secu[+ad hereby immecliately due and peyeble. ; The covenants herein cor~tained shall bind, and the benetits and advantages shall inure to, the respective ~ ~ he~rs, executors, adm~nistrators, successors, and assigns o[ the parties hereto. Whenever used, the singular num- ' t,er s':all include the plural, the plural the singular, and the use of any gender shall include all genders. ~ :-Y ~ =r~ :x:9 r s~ ~ ,:'.x" i -V ° R 191 658 ' 60GR s :l, ~ ~4 ~ _ • Y.__ - - , ; ; - . - -