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Home My WebLink About0040 ~ ~ , _ ~ . _ . . , . _ < _ - _ \ ~ ~ ~ ~ 5. That he will pecmit. commit, or su~ie~~ld'~este, impeihiknt, or deterioretiop of d propetty or any part thereoE; c?nd in the event of the failure ot the mortgagot to keep the buildings on said~mises end those tobe erected on said premises, or imptovements th~ eon, in good repeir, the mortgagee may meke such ~epei~s es in its disccetion it mey de~m r~c~ss~ry fot the pcoper prese~vation thereof, and the full amount of each and every such peyment shall be immediately due and payable. and shall be secured by the lieo of this mortgage. 6. That he will pay all and singula~ the costs, charges, end expenses, including reasonable lewyer's fees, and costs of abstracts of title, incurred w paid at any time by the mottgagee because ot the faiture on the part ot the mortgagor p~omptly aod Eully to perform the agceements and covenants of said ~promissory note end this mort- gage, and said costs, charges, and expenses shall be immedietely due end peyable and shall be secured by the. lien of this mongage. That he will keep the improvements now existing or hereafter erected on the mortgeged pcopedy. insuced as may be required Erom time to time by the mottgagee against loss by fire and othet hazerdg. casualties, and contin- gencies in such amounts and for such periods as ma~r be required by mortgagee. and will pay promptly. when due. ~ any premiums on such insurance [or peyment of which provision has eot been made hereinbetore. All insu~ance shall be carried in compa~ies approved by mortgagee and the policies and renewals thereof shall be held by mort- gagee and have attached thereto loss payable clauses in Eavor of end ia Eorm acceptable to the mortgagee. ln e~~ent of lass he will give immediatc notice by mail to mortgagee. and mortgagee may make proof of loss if not made promptly by mortgago~, and each insurance company conce~ned is hereby authorized and directed to make payment foc such loss directly to mortgagee instead o[ to moctgago~ and moctgegee jointly. snd the i~surance pro- ceeds. or any part the~eof. may be applied by mottgagee at its option either to the reduction of the indebtedness hereby secured or to the resloration ot repair of the praperty demaged. ln event ot foreclosure of this mortgage or other transter of titie to the mortgaged property in extinguishment ot the i~debtedness secured hereby, all right, titte, and interest of the malgaga in and to any insurance policies then in forc~e shall pess to the purchaser or gtantee. 8. That the mortgagee may, at any time pending a suit upon this mortgage. apply to the court having jurisdic- tion thereof tot the appointment o[ a receiver, and such coud shall forthwith appoint a receiver of the premises covered hereby all and singular. including all end singular the income, pcofits, iss~lg~; *e{~~~bues from whatever source derived, each and every of which, it being expcessly understood. is hereby mortgaged as if speciEically set forth and described in the g~anting and habendum clauses hereof, and such receiver shall have all the broed end effective functions and powers in anywise entrusted by a court to a receiver;'h~d~,~uch ~pQldidA~n! shall be made by such cou~t as an admitted equity and a matter oE absolute right to said mortgagee. artd witho'dt~~erence to the adequacy or inadequacy of the value of the propedy tnortgaged or to the solvencq>b'~ -insolveiwy~E.~d mortgagor ' or the defendents, and that such rents, profits, income. issues. and revenues ~hall be applied by such receiver according to the lien of this mortgage and the practice of such coud. In the event of any default on the part of the mortgagor hereunder, the matgagoc agrees to pay to the mortgagee on demand as a teasotl'a~l~ ieonthly rental for the premises an amou~t at least equivalent to one-twelfth (1112) of the aggregate of the taetve monthly instali- ments payable in the then current year plus the-actual amount of the annuat•Eajces, assessments. water rates, and insurance premiums for such year not covered by the aforesaid monthly p6yments. _ 9. That ful in the event of any breach ot this mortgage or default on the Fad of the mortgagor. or (b~ in the event that any of said sums ot money herein ~eferred to be not promptly and fully paid aithout demand or notice, or in tt~e eveat that each and every the st'ipulations. agreements, 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 aggtegate sum mentione~ in.said note then remaining unpaid, with interest accrued to that time. and all moneys secured hereby. shall become due and payabie forthwith, a thereafter. at the option of said mottgagee, as Eully end com- pletely as if all of the said sums of money were originally stipulated to be paid on'such day. anything in said ~ noie or in lhis nortgagr ta the costrary axwithstar.ding; sn3 therecpan or thece~fter. a! the aption of said matga- I 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 moctgage. es to the amount so declared due and . ~ payable. and the said premises shall be sold to satisfy and pey the same together with costs, expenses,and allov?r- + ances. In case of partial forec]osure of this mortgage, the modgaged premises shall be sold subject to the con- E tinuing lien of this mortgage for the amount of the debt not then due and unpa'id. tn snch case the provisions of ~ tnis paragraph may again be availed of thereafter from time to time ~y the moctgsgee. 10. That the modgagor will give immediate notice by mail to the mortgagee of sny conveyance, tcansfer, oc change of o~wnership of tfie pcemises. 11. That no waiver of any covenant herein a of the obligation securea h~reby shall at any time thereaEter be ~ held to be a waiver of the tertns hered or of the note secured hereby. 12. That if the mortgagor default in any of the covenants ot agreements conteined herein, a in seid note, then the mortgagee may perform the same, and ali expenditutes {including reasonable attaney's Eees) made by the mortgagee in so doing shall drew interest at the rate set focth in the r.~te secured hereby. and shall be repayable immediatety and aithout demand by the mortgaga to the mortgagee, and, together with interest and costs accruing thereon, shall be secured by this mortgage. ' 13. that the maiiing of a written notice or demandaddressed to the owner of cecord of the mortgaged premises, or directed to the said owner at the last address aCtwily furnished to the mortgagee, or directed to seid avner at said mortgaged pcemises, and mailed by the United States mails, shall be sufficient notice and demand in any case arising under this instrument end requiced by the provisions hereof 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 .~N ~Y$ from the date hereof (written statement ~ of any officer of the Depactment of Nausing and Urban Development or authorized agent of the Seccetary of Hous- " ing and Urban Development dated subsequent to~ the ~(~YS time from the date oE this mortgage, ' ~ declining to insure said note and this mortgage, being deemed conclusive ~oof of such ineligibility), the mortga- ~ gee or the holder of the note may, at its option, declare all sums secured hereby immediatgly due and payeble. ~ The covenents herein contained shall bind, and the benefits and advanteges shall inure to, the r~spective heirs, executors, edministrators, successas, and assigns d the parties hereto. Whenever used, the singular num- f ~ ber shall include the plural, the plural the singular, and the use of eny~gen~ler shall include all genders. ; 1 ~ ~ _ ~ 0~ f ~ ao~ 192 ~ ~ # . _ ~ ~ ~ ~ _ . . ~ _