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Home My WebLink About1007 • i • S. That he wili permit, commit, o~ sufie~ oo waste, ilnpairment, or deterioration ot said p~opetty or any part the~eof; end in the e~~ent of the failuce of the mottga~or ~O Jteep the buildings on said premeses and those tobe erected on said premise~, or improvements thereon, in good repair, the mortgagee may make such rep~+irs as in its ; discretion it may deem nececsary for the p~opet prese~vation thereof, and the [ull amount o[ each and every such ~ payment shall be immcdiately due and payable, and shall be secured by the lien oi this mortgage. ~ 6. That he will pa~~ all and singular the costs, charges, and expenses, including ~easonable lawyer's [ees, f and costs ot abstracts o( titte, incurred or paid at any time bythe mottgagee.because ot the [ailure on the part of ' the mortgago~ promptly and fuUy to perform the agreements and covenants of said ~promissory note and this mort- ~ i ga~e, and said costs, charges, and expenses shall be immediately due and payable :~nd shali be secured by the ~ lien of this murtgage. ~ 7. That he Kill keep the improvements now existing or hereatter e~ected on the mortgaged property, insured as ~ may be ~equired irom time to time by the mortgagee against loss by fi~e and other hazards, casualties, and contin- t gencies in such amounts and for such pe~iods as may be ~equired by mortgagee, and will pay promptly, when due, ~ an~~ prem~ums on such insurance for payment of which provision has not been made hereinbefore. All insurance shall be c:a~~ied in companies approved b~~ moctgagee and the policies and renewals thereof shall be held by mort- g~igee and h~+~•e attached thereto loss payable clauses in favor of and in form acceptable to the mortgagee. ln i e~•ent of loss he Hill give immediate notice by mail to mortgagee, and mortgagee may make proof o( loss iE not ~ mdde ~~romptl~~ b~• mottgagor, and each insurance company concerned is heceby authorized and directed to make ; payment [cx such loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance pro- ~ ceeds, or any part thereot, may be applied by mortgagee at its option either to the reduction of the indebtedness ; herebS~ secured or to the restoration or ~epair oE ihe property damaged. In event of foreclosure oE this morlgage or ~ other transfer of title to the mottgaged property in extinguishment of thc indebtedness secured hereby, all right, title, and intere~t of the mortgaga in and to an~~ insurance policies then in force shall pass to the purchaser or grantee. 8. That the mortgagee may, at any time pe~ding a suit upon this mortgage, apply to the court having jurisdic- tion thereof for the appointment ot a receiver, and such court shal! forlhwith appoint a receiver ot the premises covered heceby atl and singular. including all and singular the income, profits, issues. and revenues from whatever source deri~~ed, each and every of which, it being expressly understood, is hereby mortgaged as if specifically set Eorth and described in the granting and habendum clauses hereof, and such ~eceiver shall have all the broad and effecti~•e functions and powers in anywise entrusted by a court to a receivet, and such appointment shall be made b~• such court as an admitted equity and a matter oi absolute right to said ma~tgagee, and without reference to the adequacy or inadequacy oE the value o[ the property mortgaged or to the solveney vr 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 tien of this mortgage and the practice of such eoad. In the event of any default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reasonable monthly rental for the premises an amount at least equivalent to one-twel(th (1/12) of the aggregate of the twelve monthlyinstall- ments pa~•able in the then current 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 tu1 in the event of any breach of this mortgage or default on the pad oE the mortgagor, or (6) in the e~•ent that any of said sums of money herein referred to be not promptly and fully paid without demand or notice, a or t in the e~~ent that each and every the stipulations. agreements, conditions, and covenants of said note and this mortgage, are not duly, prompt ly, and fully performed; then in either or any such event, the said aggregate i sum mentioned in said note then remsining unpaid, with interest accrued to that time, and all moneys secured i hereby, shall become due and payable forthwith, or thereafter, at the option of said moctgagee, as Eully and com- ` pletely as if alt of the said sums of money ~ere originally stipulated to be paid on such day, anything in said ' note oc in this mortgage to the contrary notwithstanding; and thereupon or thereafter, at the option oE said mortga- f gee, without notice or demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had G ; matured prior to its institution. The mortgagee may Eoteclose this mortgage, as to the amount so declared due and ~ pal•able, and the said premises shall be sol~ to satisfy and pay the same together with costs, expenses,and allaw- ~ ances. In case of partia! 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 f this paragraph may again be availed of thereafter 4rom time to titne by the mortgagee. ~ 10. That the mortgagor will give immediate notice by mail to the mortgagee of any conveyance, transfer, or ' change of ownership of the premises. ~ I1. That no waiver of any co~~enant herein or of the obligation secured hereby shall at any time thereafter be a held to be a Wai~•er 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 in said note, then ~ the mortgagee may perform the same, and all expenditutes (including reasonable attorney's fees) made by the ~ mortgagee in so ~loing shall draw interest at the rate set forth in the note secured he~eby, and shall be repayable ~ immediately and w~ithout demand by the mortgagor to the mortgagee, and, together with interest and costs accruing ~ thereon, shall be secured by th~s mortgage. 13. that the mailing of a written notice a demandaddressed 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 = said mortgaged premises, and mailed by the United States mails, shall be sufficient notice and demand in eny ~ case arising under this instrument and required by the provisions hereot or by law. ~ ~ 14. The mortgagor further covenants that should this mortgage and the note secured hereby not be eligible ~ for insurance under the National Housing Act within ~~Y$ from the date hereof (written statement - of an}• officer of the Department of Housing and Urba~D4,yg~g~ment c,t author'ued agent of the Secretary of Hous- ing and Urban Development dated subsequent to t unT +ime from the dete of this mortgage, ~ ~ declining to insure said note and this mortgage, being deem•~d conclusive proof o[ such ineligibility), the mortga- ~ gee or the holder of the note may, at its option, declare al! sums secured hereby immediately due snd payable. ~ The covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective heirs, executors, administrators, successors, and assigns o( the parties hereto. Khenever used, the singular num- ~ ber shall ~nclude the plural, the plural the singular, and the use ot eny gender shall include all genders. s a ~ ~ s i ~ti y ~ ' ~ ~ sooK 191 10~ ~ ~ ~ : = : : ~ _ _ . : _