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Home My WebLink About0734 . ,j t : ~ . ~ . S. Th~it he w~iil permit, cummit, or sutfer no waste, impairment, or deterioration o[ said property or any part thereof; and in the event of the failure of the mortgagor to keep the buildings on sa~d premises and those tobe er~cted on said premises, or improvements thereon, in gcod repair, the mottgagee may make such repairs as in its disc~etion it may deem necessar~~ tor the propet preservation thereof, and the full amount of each and every such payment shatl be immediately due and payable, and shal! be secured by the lien o( this mortgage. 6. That he will pay all and singular the costs, charges, and expenses, includ~ng ceasonable lawy~r's [ees, and cost~ of abstracts oi title, incurred or paid at any time bythe mortgagee.because of the tailure on the part of the mortgagor pramptly and fully to perform the agreements and covena~ts of said ~promissory note and this mort- gage, and said costs, charges, and expenses shall be immediately due and pa~~able and shall be secured by the lien of this mortgdge. 7. That he ~ill keep the improvements now existing or he~eafter erected un the mortgaged property, insured as may be required fro~n time to time by the mortgagee against loss by Eire and other hazard~, casualties, and contin- gencies in such amounts and for surh periods as may be required by mortgagee, and will pay promptly, when due, any premiums on such insurance for payment ot which provision has not been made hereinbefore. All insurance shall be carried in companies approved by mortgagee and the policies and renewals theceof shall be hetd by mort- gagee and ha~~e attached thereto loss payable clauses in Favor of and in form acceptable to the mortgagee. In e~~ent of loss he will give immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptl~- by mortgagor, and each insurance company concerned is hereby authorized and directed to n~ake pa~~ment for such loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance pro- ceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title, and interest of the mortgagor in 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 suii upon this mottgage. apply to the court having jurisdic- tion thereof for the appointment of a receivec, and such court shall fotthwith appoint a receiver of the premises ? covered hereby all and singular; including all and singular the income, profits, issues, and revenues from whatever ; source derived, each and every of which, it being expressly undelstood, is 6ereby ~mortpaged as if specifically set - forth and described in the granting and habendum clauses hereof, and such:~rereivet ~hall have all the broad and ; effecti~•e functions and powers in any~wise entrusted by a court to a receiver, anc~,_SUC~appointment shall be made ' by such court as an admitted equity and a matter of absolute right to said modgagee. and without reference to the - adequacy or inadequac~~ of the value of the property mortgaged ot to the solvency or insolvency of said mortgagor ; or the defendents, and that such rents, profits, income, issues, and revenues shali be applied by such receiver :+ccording to the lien of this mortgage and the practice oE such court. In the event of any default on the part ot the } mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reasonable monthly rentai for tne premises an amQUnt at least equivalent to one-twelEth (1!12) of the aggregate of the twelve monthly install- r~ents payable in the then cur~ent year plus the actual amount of the annual taxes, assessments, water rates, and ~nsurance premiums for such year not covered by the aforesaid monthly payments. 9. That r in the event of any breach of this mortgage or default on the part of the modgagor, or (b~ in the event that an~- of said sums of money herein referred to be not promptly and fully paid without demand or notice, : or ~ in the e~•ent that each and every the stipulations, agreements, conditions, and covenants of said note and this mortgage, are not dul}•, promptly, and fuR~~ 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 Eorthwith, 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 modgage to the contrary notwithstanding; and thereupon or thereatter, at the option of said mortga- gee, without notice or demand, suit at law or in equity, may be prosecuted as iE all moneys secured hereby had ! matured prior to its institution. The mortgagee may foreclose this mortgage, as to the amount so declared due and ` pa~~able, and the said premises shall be sol~ to satisfy and pa~ the same together with costs, expenses,and allow- i ~ ances. In case of partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con- ' 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 thereafter from time to time by the mortgagee. ? ~ ; 10. That the mortgagor will give immediate notice by mail to the mortgagee of any conveyance, trans[er, or i 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 " held to be a waiver of the terms hereof or of the note secured hereby. ~ 12. That i[ 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 expenditu~es (including reasonable attorney's fees) made by the ¢ mortgagee in ~o doing shall draw interest at the rate set forth in the note secured hereby, and shall be repayable ~ immediately and without demand by the mortgagor to the mortgagee, and, together with interest and costs accruing r thereon, shall be secured by this mortgage. ; 13. that the mailing ot a written notice or demandadd~essed to the owner of record of the mortgaged premises, ¢ or directed to the said owner at the last address actually furnished to the mortgagee, or directed to said owner at said mortgaged prernises, and mailed by the United States mails, shall be sufficient notice and demand in any case arising under this instrument and required by the pror;isions hereof or by law. ~ 14. The mortgagor further covenants that shoutd this mortgage and the note secured hereby not be eligible for insurance under the National Housing Act within from the date hereof (written statement ' of an~~ otficer of the Department of Housing and Urban Developmen'f ar authorized agent of the Secretary of Hous- ing and Urban Development dated subsequent to the ~ time from the date oE this mortgage, x declining to insure said note and this mortgage, being deem~~d conclusive proof of such ineligibility), the mortga- gee or the holder of the note may, at its option, declare all sums secuced hereby immediately due and payabte. The covenants herein contained shall bind, ~ and .the .benefits and advantages shall inure to, the respective ` heirs, executors, administrators, successors, and assigns of the parties hereto. whenever used, the singular num- ber shall includ~ lhe plural,,the ptural the singular, and the use of any gender shall include all genders. 3~ . . 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