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S. That he will permit, commit, or sufter ~o waste, impairment, ur deterioration of said ptoperty ~r any pa~t
thereof; and in the event o( the faiture of the mortgago~ to keep ihe buildings on said premises and thase tobe
erccted on said premises, ar ~mprovements thereon, in good repai~, the mortgagee may make such cepai:s as in its
discretion it may deem necessa~y [or the proper preservation thereot, and the full amount of each and every such
payment shall be immediately due and payable, and shall be secuced by the lien of this mortgage.
6. That he will pay all and singular the casts, charges, and expenses, including reasonable lawyer's [ees,
and costs ui absiracts af title, incurred or paid at any time bythe mortgagee.because ot the tailure on the part of
the mo~tgagot promptly and fuily to pertorm the agreements and covenants oi said ~promissory note and this mort-
gage, und said costs, charges, and expenses shall be immediately due and payable and shall be secured by the
lien o[ th~s mortgage.
7. That he will keep the improvements now existing or hereafter e~ected on the mortgagcd property, insured as
may be ~equired from time to time bp the mortgagee against loss by [ire and other hazards, casualties, and contin-
gencies in such amounts and Eor such periods as may be requiced by mortgagee, and will pay promptly, when due,
any premiums on such insurance fo~ payment of which provision has not been made hereinbefo~e. All insurance
shall be carried in companies approved by mortgagee and the policies and renewals thereo[ shall be held by mort-
gagee and ha~•e attached thereto loss papable clauses in favor of and in form acceptable to the mortgagee. In
event of loss he will give immediate notice by mail to mortgagee, and mortgagee may make proof ot loss if nd_
made promptly by murtgagor, and each insurance company concemed is hereby authorized and ditected to make !
payment [or 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 o[ 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 mortgaga in and to any insurance policies then in fo~ce shall pass to the purchase~ or
gra at ee.
8. That the mortgagee may, at any time pending a suit upon this mortgage, appiy to the court having jurisdic-
tion thereof for the appointment of a receiver, and such court shall forthwith appoi~t a receiver of the premises
corered hereby all and singular, including all and singular the income, profits, issues, and revenues from whatever
tiource derived, each and every of which, it being expressly understood, is hereby mortgaged as if speciEically set
forth and described in the granting and habertdum clauses hereo[, and such receiver shall have aU the broad and
ef[ecti~•e functions and powers in any~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
~~dequacy or inadequacy of the value o[ the property mortgaged or to the solvency or insolvency of said mortgagor
ur 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 event of any default on ~e ~art.of thQ
mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reasonable moncbly tental~for'
the premises an amount at least equivalent to one-twelfth (1/12) o[ the aggregate of the twelve monthlyinstall-_
ments payable in the then current year plus the actual amount of the annual taxes, assessments, water rates, and
insurance premiums for such year not covered by the aforesaid monthly payments.
9. That ~ in the event oE any breach of this mortgage or default on the part of the mortgagor, or (b/ in ihe
e~•ent that any of said sums of money heTein referred to be not promptly and fully paid without demar?d or notice,
or ~ in the e~-ent that each and every the stipulations, agreements, conditions. a~d covenants of said note and
'i this mortgage, arc not duly, prompily, 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-
F pletel}~ as if ali of the said sums of money were originally stipu?ated to be paid on such day, anything in said
} note or in this mortgage to the contcary notwithstanding; and thereupon or thereafter. 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
t matured prior to its institution. The mortgagee may Eoreclose this mortgage, as to the amount so declared due and
; pay~able, and the said premises shall be sold to satisfy and pay the same together with costs, expenses,and allow-
; ances. In case of partial foreclosu~e of this mortgage, the mortgaged premises shall be soid subject to the con-
~ tin~ing 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, transfer, or
change of ownership of the premises.
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~ 11. That no waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be
~ held to be a v?•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 in said note, then ~
~ the mortgagee may perform the same, and all expenditu~es (including reasonable attorney's fees) made by the
k mortgagee in so doing shall draw interest at the rate set forth in the note secured hereby, and shall be repayable
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~ immediately and without demand by the mortgagor to the mortgagee, and, together with interest and costs accruing
~ thereon, shalt be secured by this mortgage.
s .13. that the mailing of a written notice or demandaddressed to the owner of record of the mortgaged premises, f
~ or directed to the said owner at the last address actualty furnished to the mo~tgagee, or directed to said owner at
r said mortgaged premises, and maifed by the United States mails, shall be sufficient notice and demand in any
~ case arising under this instr~qent and fequired by the provisions hereoE or by law.
~ 14. The mortgagor further covenants that should this mortga e and the note seCured hereby not be eligible
_ for insurance under the National Nousing Act within ~~Y~ from the date hereof (written statement ;
of any officer of the Department of Housing and Urban Development or authorized agent oE the Secretary of Hous-
ing and Urban pevelopment dated subsequent to the ~ ~YS time from the date ot this mortgage,
= 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 secured hereby immediately due and payeble.
The covenants herein contained shal! 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 include the ptural, the plural the singular, and the use of any gender shall include all gendets.
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~ so~x191 1495
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