The URL can be used to link to this page

Home My WebLink About0915 S. That he N~~ll perm~t, comm~t, or sulfer;r~;*aste, im~ii~nt, or deterioration ot said property or any part thereof; and in the e~~ent o( the la~l~ire o[ the mortgagor to keep the buildings on said p~emises and lhose tobe err<•ted on said ptemise~, or impro~~ements the~eon, in good repair, the mortgagee m:+y make such repairs as in its discretio~ it may deem necessary for the proper prese~~•ation thereof, and the [ull amount ot each and every such pa~•ment sFu~ll be immediately due and pa~•able, z~nd shall be secured by the tien of this mortgage. 6 That he ~•ill pay all and singul:~r the cast~, charges, and expenses, including reasonable lawyer's (ees, and cast~ of abstracts of title, incurred w paid at any time bythe mortgagee.because of ihe failure on the part of the martgagor pcomptl~• and full~ to pe~[orm the ag~eements and cavenants of said ptomisso~y noie and this mort- gage, and ~aid costs, cli:irges, and expenses shall be immediately due and pa~~able and shall be secured by the s lien o[ this mortga~e. ~ 7. That he v?il1 keep the impiovements now existing ot herea[ter ecected on the moKgaged property, insu~ed as ma}• be required (rom time to time b~~ the mortgagee against loss by (ire and other hazards, casualties, and contin- ~ ~encies in such amounts and [or such petiods as may be requited by mortgagee, and will pay promptly, when due, ~ an~• premiums an such insurance (oc payment of which pro~•~sion has not been made hereinbeiore. All insurance shal! be carried in compan~es appro~•ed bp mortgagee and the policies and renewals thereof shall be held by mort- ; Kagee and ha~•e attached thereto lo~s payable clauses in Eavor ot and in (orm acceptable to the mortgagee. In f e~•ent of lus~ he w~ll gi~•e immediat~ notice by mail to mortgagee, and mortgagee may make proof o( loss if not ; made promptl~~ b~• mortgagor, and each insurance company concer~ed is hereby authorized and directrd to make ~ p:+pment for such loss directly to mortgagee instead of to moctgagor 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 o[ foreclosure o[ this mortgage ot other transfer of title to the mortgaged property in exti~guishment of the indebtedness secured hereby, all right, j title, and interest of the mortgagoc in and to an~~ insurance policies then in force shall pass to the purchaser or grantee. 8. That the moetgagee may, at any time pending a suit upon this mortgage, apply to the court having jurisdic- tion thereof for the appointment of a receiver, and such court shall forthwith appoint a receiver of the premises co~•ered hereby all and singular. including all and singular the income, profits, issues, aq~ ~~npe§,f~om whatever ; source derived, each and every of which, it being expressly understood, is hereby mortgaged as if speciEically set forth and described in the gcanting and habendum clauses hereof, and such receiver shall have all the broad and • efterti~•e functions and powers in an~~wise entrusted by a court to a receiver, and such appoiniment shall be made by such court as an admitted equity and a matter of absolute right to said mortgagee, and without reference to the c~dequac~• or inadequacp 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 shatl' be; gpplieQ~by~yr,~ rectiver ~ according to the lien of this mortgage and the practice of such court. in the event of any default Dn th~ pe~t of the ~ mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reasonable mont~lyR.ssaizl for che premises an amount at least equivalent to one-twelfth (1!12) of the aggregate of the twelve monthlyinstall- ~ ments pat•able in the the~ current year plus the actual amount of Ihe annual taxes, assessments, water rates, and ~ insurance premiums for such year not covered by the aforesaid monthly payments. ; 9. That i~, ~ in the event of any breach of this mortgage or default on the pa~t of the mortgagor, or (b/ in the ~ e~•ent that any oi said sums of money herein referred to be not prompUy 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 duly, promptly, and fuliy performed; then in either or any such event, tfie said aggregate sum mentioned in said note then remaining unpaid, with interest accrued to that time, and all moneys secured hereb~•, shall become due and pa~•abte forthwith, oc thereaiter, at the option of said mortgagee, as fully and com- pletelp 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 the~ea(ter, 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 hereby had ~ matured prior to its institution. The mortgagee may foreclose this mortgage, as to the amount so declared due and - ~ ; payable, and the said premises shall be sold to satisfy arxl pay the same together with costs, expenses.and allow- • ances. ln case ot partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con- ~ tinuing lien of this mortgage tor the amount of the debt not then due and unpaid. In such case the provisions of ~ this paragraph may again be availed of thereafter ftom time to time by the mortgagee. ~ la. That the mortgagor will give immediate notice by mail to the mortgagee of any conveyance, trans[er, or ! change of ovenership of the premises. _ 11. That no waiver of any covenant herein or of the obligation secured hereby shall at any time thereatter be ; held to be a waiver of the terms hereof or of the note secured hereby. ~ 12. That if the mortgagor defautt in any oE the covenants or agreements contained herein, or in said note, then € the morigagee may perform the same, and all expenditutes (including reasonable attotney's fees) 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 without demand by the mortgagor to the modgagee, and, together with interest and costs accruing ° thereon, shali be secured by th~s mortgage. - ~ 13. that the mailing of a written notice or demandaddressed to the owner of record of the mortgaged premises, ~ ; or directed to the said owner at the last addtess actually furnished to the mortgagee, or directed to saidowner at said mortgaged pcemises, and mailed by the United States mails, shall be sufficient notice and demand in any ~ case atising under this instrument and required by the provisions hereof or by law. ~ 14. The a?ortgagor further covenants that should this mortgage and the note secured hereby not be eligible [or ~nsurance under the National Housing Act within 30 Q~Y.S from the date hereof (written statement i of any~ ofticer of the Department of Nousing and Urban Development or authorized agent of the Secretary of Hous- ~ ~ng and Urban Development dated subsequent to~ the j(j OAYS . time Eroai the dete of this mottgage, ° declining to insure said note and this mortgage, being deertM~d conctusive proof of such ineligibility), the mortga- gee oc the holder d the note may, at its option, declare all sums secured hereby immediately due and payable. 7'he covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective _ heirs, executors, administraturs, successors, and assigns of the parties hereto. N'henever used, the singular num- ' ber shall include the plural, the plurat the singular, and the use of eny gender shall include all genders. :5 a 'r`', ~ , e . y ~ ~ ~ 191 914 ~ i ;s - 1 ~ . . . ~