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Home My WebLink About0728 S. Th.it hi• w~U pc~rm~t, cumm~t, ot suffet no w~aste, imp:~irmenf.~ot dete~~arat~on of said ptu{x•ttp or any p,ut thrn~ot, .+nd in th~ r~•rnl o( thr I:~~liuc ~~f tfie m~ttRagut to keep the buildings on sa~d pmmises and thosc tobe er~~•icd on said prem~se~, or ~mpto~~em~ ntc thereon, in good repair, the morig:?Kce m:>>~ m:~kc such tep:urs .~s m its d~~cret~on ~t may deem neces~~ry for the proper presen•r~tion thereo(, und the (ull amount ot e.~ch and every such p~i~~ment shall be imm~~~ately due and ~w}•able, and shall be secu~ed by the lieo of ih~s mortgage. b Th;~t he ~eill }k+~• all and singular the cacts, chatges, and expenses, including reasanabie lawyer's tee~, and r~~sts uf abstracts of title, ~ncurred o~ paid at any time bythe mottgagee.because of the failure on the part o( ; the murtg:+gor promptl~• cind fullV to per[otm the aKteements and covenants of said ptom:ssory note and this mott- f g:ike. .~nd said costs, cha~kes, .+nd exprnses shall be immediately due and papable ~nd shall be secured by Ihe licn ~~i th~s mortgage. i. That he will keep the impro~•ements now existing or h~ceafter erected on the mortgaged property, insu~ed as ma~• be required f~om time to t?me b~• the mortgagee against loss b~~ fi~e and other hazards, casualties, and contin- Kencies ~n such amounts and for such periods as ma~~ be required by mo~tgagee, and will pay prumptly, when due, am• premiums on such insurance for payment of which provision has not been made hereinbe(ore. All insuranre tihaU be carried in companies appro~•ed bp mort~agee and the policies and renewals thereof shall be held by mort- Kagee and ha~~e attached thereto loss payable clauses in favo~ of and in form acceptable to the mortgagee. In ' e~~cnt of loss he w•ill gi~~e immediate notice by mai! to mortgagee, and mortgagee may make p~oof o( loss if not s made promptl~• b~• mortgagor, and each insurance company concrrned is hereby authorized and directed to make p:i~•ment for ~uch loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance pro- ceeds, or an~~ part theceof, may be appl~ed bp mortgagee at its optio~ either to the reduction of the indebtedness herebp secured or to the restoration ot repair ot the propert~• damaged. In e~~ent o[ foreclosure o[ this mortgage o~ other trans[er of title to the morigaged property in extinguishment of the indebtedness secured hereby, all right, ` tit?e, and interest of the mortgagor in and to any insurance policies then in force shall pass to the purchaser os ~ Krantee. 8. That the mortgagee may, at any iime pending a suit upon this mortgage, apply to the court ha~ing jurisdic- t~on thereof for the appointment of a receiver, and such court shall forthwith appo'sM a receiver of the premises co~•ered hereb~• all and singular, including all and singular the income, p~ofits, issues. and revenues from whatever :uurce deri~•ed, each arxi every of which, it being expressly understood, is hereby mortgaged as if specifically set torih and described in the granting and habendum clauses hereof, and such receiver shall have all the broad and effecti~•e Eunctions and pov?ers in an~•wise entrusted by a court to a receiver, and such appointment shall be made b}• such court as an admitted equity and a matter of absolute right to said mortgagee, and without reference to the adequac~• or ~nadequac}• of the calue of the property mortgaged or to the solvency or insolvency of said mortgagor or the defendents, and that such rents, profits, income, issues, and revenues shall be applied by such receiver according to the lien of this mortgage and the practice of such court. !n the! eventio[ an~`de[ ~lt on the part of the r.:ortgagor hereunder, the mortgagor agrePs to pay to the mortgagee on demand as a reason3~e monthly renta! !or the premises an amount al teast equivalent to one-twelfth (1.~12) of the aggregate of the twelve monthly install- ; r~ents papable in the then current year plus the actual amount of the annual taxes, assess~eents, water rates, and insurance premiums fo~ such year not cuvered by the aEoresaid monthly pF+yments. . 9. That in the e~•ent of any breach o[ this mortgage or default on the pad of the mortgagor, or tbl 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 stiputations, agreements, conditions. and covenants of said note and ' this mertgage, are not duty, promptly, and fully performed; 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, or thereafter, at the option of said mortgagee, as fully and com- ' pleteh• as iE ali oi 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 therea[ter, at the option of said matga- ; gee, w•ithout notice or demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had ; matured prior to its institution. The mortgagee may foreclose this mortgage, as to the amount so de~tared due and pa~•able, and the said premises shall be sold, to satisfy and pay the same together with costs, expenses,and allow- _ E ~nces. In case of partiai foreclosuce oi this mortgage, the murtgaged 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 of ~ this paragraph ma~• again be availed of thereafter from time to time by the mortgagee. ~ 10. That the mortgagor will give immediate notice by mail to the mortgagee of any conveyance, transfer, or _ change of ownership o[ the premises. ~ I1. That no waiver of any co~~e~ant herein or of ihe obligation secureJ hereby shall at any time thereafter be ; held to be a w•aiver of the terms hereof or of the note secured hereby. ~ 12. That if the mortgagor default in any of the covenants or agreements contained herein, or ~n said note, then ~ the mortgagee ma~~ perform the same, and all expenditu~es (including reasonable attixney's Eees) made by the ~ r.;ortgagee in so doing shall draw interest at the rate set forth in the note secured hereby, and shall be repayable ~ ~mmed~aiely~ and w ithoat demand bt~ the mortgagor to the mortgagee, and, together with interest and costs accruing ~ thereon, shall be secured by th~s mortgage. ~ 13. that the mailing o( a written notice or demandaddressed to the owner of record o[ the mortgaged premises, ~ ~,r directed to the said owner at the last address actually furnished to the mortgagee, or directed to saidowner at ti said mortgaged p~emises, and mailed by the United States mails, shall be sufficient notice and demand in eny ~ case arising unde~ this instrument and required by the provisions hereof or by law. ~ ~ 14. The mortgagor further covenants that should this mortga e and the note secured hereby not be eligible =r for ~nsurance undec the National Housing Act within ~~Y$ _ from the date hereof (written statement _ of an~ o[ficer of the Department of Housing and Ucban Development or authorized agent of the Secretary of Hous- ~ng and Urban De~•elopment date~ subsequent to the y time from the date of th~s mortgage, = decl~ning to insure said note and th~s mortgage, being dee~c~fu~ive proof of such ineligibitity), the mortga- gee or the holder of the note may, at its opt~on, declare a!1 sums secured hereby~immediately due and payable. - The cur•endnts herein contained shall bind, and the bene[its and advantages shall inure to, the respective = he~rs, executors, adminislrators, successors, and assigns oE the parties hereto. N'henever used, the singular num- ber shall include tfie plural, the plura! the singular, and the use of any gende~ shall ~nclude all genders. i~i' ~oox 191 .72? ~ - ~ ~ ~ ~ ~ ~ . . tl . ~ - . ~ ~ ~