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Home My WebLink About0929 ' i ~ 1 ~ i 5. That he will pe~mit, comm~t, ot sutter no waste, impairment, or deterioretion ot said property or any part , thereof; a~d i~ the event ot the failuce ot the mortgagor to keep the buildings on said premises and those tobe erected on said premises, or improveme~ts theteon, io good repair, the mortgagee may make such repairs as in its discretion it may deem necessary foc the p~oper preservation thereot, and the fuli amount o( each and every ~uch pa~•ment shall be immediately due and payable, and shall be secured by the lien o[ this mortgage. 6. That he will pag all and singular the costs, charges, and expenses, including ieasonable lawyer's fees. and costs of abstracts of title, incurred or paid at any time bythe mortgagee.because o[ the Eeilure on the part of the mortgagor promptly and fully to perEorm the agreements and covenants of said promissory note and this mort- gage, and said costs, charges, and expenses shell be immediately due and pc~yable and shall be secured by the lien of this mortg~ge. 7. That he will keep the improvements now existing oc heree(ter erected o~ the mortgaged property, insured as may be required from time to time b~~ the mortgagee against loss by fire and other hazards, casualties, and contin- gencies in such amounts and [or such periods as may be required by mortgagee, and will pay promptly, when due, an~~ premiums on such insu~ance tor payment of which provision has not been made hereinbefore. All insurance shall be cacried in companies appcoved b~ mortgagee and the policies and renewals thereof shall be held by mort- gagee and ha~•e attached thereto loss payable clauses in favor of and i~ form acceptable to the mortgagee. In e~•ent ot loss he wil! give immediate notice by meil to mortgagee, and mortgagee may make proof of loss it not made promptl~ by mortgegor, and eRCh insurance company concerned is hereby authorized and directed to make payment for such loss directly to mortgagee instead o[ to mortgagoc and mortgagee jointly. and the insurance p~o- ceeds, or any part thereof, may be applied by matgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the propert~~ 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 shatl pass to the purchaser or grantee. 8. That the mortgagee 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 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 u~derstood, is hereby mortgaged as if specifically set [orth and described in the granting and habendum clauses hereof, and such receiver shall have all the broad and effective functions and pov?ers in anywise entrusted by a court to a receiver, and such appointment shall be made by such court as an admitted equity and a matter of absolute right to said moRgaget ~td virithqut reference to the adequacy or inadequacy of the value of the property mortgaged or to the solvenry orrin~OUvency Qf said mortgagor or the defendents, and that such rents, proEits, income, issues, and revenues shall be, applied by such receiver according to the lien of this mortgage and the practice of such court. In the event of any default on the part of the mortgagor hereunder, the moctgagw agrees to pay to the mortgagee on demand as a teasonable monthly rental for the premises an amount at least equivalent to one-tweltth (1/12) of the s6gregate of the twelve monthly install- ments payable in the then current year plus the actual amount of the annual taxes, assessments, water rates, and insu~aace premiums for such year not cove~ed by the aforesaid monthly payments. ~9. That i~ 1 in the event of any breach of this mortgage or defaalt on the part of the modgagor, or /b 1 in the e~~ent that any oE said sums of money herein referred to be not promptiy and fully paid without demand or notice, or !~•i in the event that each and every the stipulations, egreements. conditions, and covenants of said note and this mortgage..are not duly, promptly, and fully performed; then in either or any such event, the said aggregate su~n mentioned in said note then ,remaining unpaid, with interest accrued to that time. and all moneys secured hereby, s6a11 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 modgage to the contrary notwithstanding; and thereupon or thereafter, at the option of said mactga- 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 s payable, and the seid 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- ~ tinuing lien of this mortgage for the amount of the debt not then due and unpaid_ ln such case the provisions of 4 this paragraph may again be availed of thereafter from time to time by the mortgagee. ; 10. That the mottgagot wil! give immediate notice by mail to the mortgagee of any conveyance, transfer, oc ~ chsnge of ownership of the premises. 2 ~ 11. That no waiver of any covenant herein or of the obligation secured hereby shall at an~• time thereafter be ~ held to be a waiver of the terms hered or of the note secured hereby. ~ 12. That if the mortgagor defauIt in any ot the covenants or agreements contained herein, or in said note,-then ~ the mortgagee may perform the same, and all expenditutes (including reasonable attorney'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 repa}•able ~ immediately and without demand by the mortgagor to the mortgagee, and. together with interest and costs accruing 4 thereon, shall be secured by th~s mortgage. ~ 13. that the mailing of a written notice or demand addressed to the owner of record of the mortgaged premises, ~ or directed to the said owner at the last address actually furnished to the modgagee, or directed to saidowner at i K said mortgaged premises, and mailed by the United States mails, shall be sufficient notice and demand in any ~ case arising under this instrument and required by the provisions hereof or by law. ~ 14. The mortgagor further covenants that should this mortgage and the note secuced hereby not be eligible ' ~ for insurance under the National Housing Act within ~y from the date.6eceof (written statement ` of any otficer of the Department of Housing and Urban e~velopment oc authorized agent of the Secretary of Hous- ing and Urban Qevelopment dated subsequent to~ the {~~y j~pi time from the date of this mortgage, S _ declining to insure said note and this mortgage, being deem~'-~c "onclusive proof of such ineligibility), the mortga- gee or the holder of the note may, at its option, declare all sums secured hereby immediately due and payeble. The covenants herein contained shall bind, and the benetits and advantages shall inure to, the respective heirs, executors, administrators, successors, and assigns of the parties hereto. Whenever used, the singular num- ber shall include the plural, the plural the singular, and the use of any gender shafl include all genders. ~ ~ ~ ~i~ 9~8 ~ f a~ „ . _ , _ . . ~