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Home My WebLink About0046 _ _ _ , ~ , _ _1 _ _ : - ~ - _ . ~ : r ~ - ~ ~ _ ` _ _ _ ~ ~ Y~' . _ . _ - ~ - - , - ~ ~ . ` Y ~ ' ' S. That he wiil pecmit. commit, or su[Ee~ no waste, impaicment, or dete~ioratio~ ot said propeNy o~ any part { thereuf; and io the event ot the (ailuce af the mortgagor to keep the buildings on said premises and those tobe ~ e~ected o~ seid premises. or improvements theceon. in good ~epaic. ihe mottgagee may make such ~epairs as in its ~ discretio~ it may deem necessery for the p~opet preservation thereot. and the iuii amount of each and every such paymeet shall be immediately due and peyeble. and shall be secured by the liee of this mortgage. 6. That he will pay all artd singular the casts. cherges~ and expenses, including reasonable lawye~'s fees, and costs ot abst~acts oi title, incurred or peid at eny time by the mortgagee .because of the failure on the pert of the mortgagor promptly er~d fully to perform the agceements and covenants of said'promisswy note and this mort- gage, and said cosis, charges, and expenses shall be immedietely due and peyable and shall be secured by the lien of this mortgage. - 7. That he will keep the impcovements now existing or hereufter erected on the mo~tgaged prope~ty. insured as may be required from time to time by the mortgagee ageinst loss by fire a~d other hasards. casualties. and contin- gencies io such amounts and fo~ such periods es may be required by mortgegee. and will pay promptly. wben due. any premiums on such insu~ance [o~ peyment of which p~ovision has not been made hereinbefore. All insurance • shall be ca~ried in companies eppcoved by mortgagee and the policies end renewals theceo[ shall be he.ld by mat- gagee and have attached thereto loss payable cleuses in favor oi and in form eccepteble to the modgagee. In event of loss he will give immediate notice by mail to modgagee. and mortgagee may make proof of loss it not made promptly by ~ortgagor, and each insurance company concerned is heceby authorized end directed to meke payment for such loss directly to mortgagee instead of to matgagor and mortgagee jointly. and the insurance pro- ceeds. or any part theceof. may be applied by moctgagee et its option either to the reduction oE the indebtedness hereby secured or to the restoretion or repeir of the property dameged. In event of foreclosure of this mortgage or other transfec of title to the moctgaged property in extinguishment of the ir~debtedness secured hereby. all right. title, and interest of the moctgega in and to any insuranee policies then in focce shail pess to the purchaser or grantee. . 8. That the matgegee may, at any time pendi~g a s~it upon this moctgage, apply to the court having jurisdic- tion thereof for the appointment oE o receiver. and such cou~t shall forthwith appoint a receiver of the pcemises covered hereby all and singular. including ell and singular the income, profits, issues~ and revenues from whatevec source derived. each and every oE which. it being exp~essly underatood. is hereby mortgaged as if speciEically set forth and described in the gra~ting and habendum clauses hereof. and such ceceivet_ghall ~ve all the broed and effective functio~s and powers in enywise eetrusted by a couct to a receiver. and sucM ip~oI~td~nt shall be made by such cou~t as an admitted equity and a matter of absolute right to said mortgagee. and without reference to the adequacy or inadequacy of the value of the pcoperty mortgaged or to the solvew~ .inso~,yenc~y of said mortgegoc or the defendents, and that such rents, protits. income. issues. and tevenue~ ~ Lbe ~pplied~.~ ~w~cb receiver according to the lien of this moctgage and the practice of such court. In the event of any default on4l~e part of the mortgagor heceunder. the mortgagor agrees to pay to the mortgegee on demand as a reasonable montMp rental foc the premises an amount at least equ~valent to one-twelfth (1/12) of the aggregete d the tweive ~iwnthly install- ments payable in the then curcent year plus the actual amount of the annual taxes. assessments~ .watet rates, and insurance pcemiums [ar such year not covered by the afocesaid monthly peyments: 9. That (u/ in the event of any breach of this mortgage or default on the part of the modgagw. or (b) in the e~ent that any of said sums of money herei~ referred to be not promptly and fully paid without demand or notice, or /~l in the event that each and every the stipulations, agreeaients, conditions. and covenents of said note and this mortgage. an not duly. promptly. and Eully performed; then in either or any such event, the said aggregate sum mentioned in seid note then remaining unpaid. with interest accrued to that tia~e. and all moneys secured hereby, sha11 become due and payable Eorthwit6, or thereafter. at the option ot said mortgagee, as fu11y and com- pletely as if all of the said sums of money were originally stipulated to be paid on such dey. anything in said note or in this mo~tgage to the contrary notwithstanding; and thereupon or therea[ter. at the option of said matga- j gee, withont notice or demand. suit at law or in equity, may be prosecuted as if all moneys secured hereby had E matuced pcior to its institution. The mortgagee may foreclose this mortgage, as to the anaunt so declared due and - ; payable. and the said pcemises shall be sold to satisfy and pay the seme together with costs, e:penses,end allow- ances. In case of portial foreclosure of this m«tgage, the modgeged pcemises shall be sold subject to the con- ~ tinuing tien of this mortgage for the amonnt of the debt not then due and unpaid. In such case the provisions of ~ this paragraph may agaia be availed of thereaher from time to tiai~ by the mortgagee. 10. That the mortgegot will give imcaediate notice by mail to the mortgagee of any~ conveyance, transfer, or change of ownecship of the premises. ~ I1. That no waiver of any covenant herein or of the obiigation secured hereby shall at any tirt~e thereafter be ~ held to be a waiver of the terms hered or of the notr secured hereby. l2. That if the mortgaga default in any of the covenants or agreements contained herein, a in said note, then the mortgagee mey pedorm the same, and all expendituies (including reasonable attorney's Eees) made by the mortgagee in so doing shall draw interest at the rate set fath in the note secuced hereby, and shall be repayable - immediately and without demand by the mortgaga to the mortgagee~ and, together with interest and costs accruing thereon, shall be secured by this modgage. 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 addcess actnally furn:a~rd to the mortgegee, or directed to said oovner at said mortgaged premises, and mailed by the United States maiis, shall be sufficient notice and demand in any case arising u~der this instrument end required by the pcovisioos hereaf ot by law. ' 14. The :cwrtga~gD~ further ryven~e~ts that shorld t~is mort e a~d.the note secured hereby not be eligible ~ [oc insurance under the idatioaal Housing Act within ~_Q~~ from the date heteof ~wriiten statement of any officer of the Department of Housing and Urban Devel ment or authorized agent of the Secretary ot Hous- ~ ing and Urban ~~evelopment dated sabsequent to~ the time from tbe date of this mortgage, ~ deciining to insure said nde end this mortgage, being deem~d conclusive proof aE such ineligibility), the moctga- ' gee or the holder of the note may. at its option, declare all sums secured hereby immedietely due and pey~ble. The covenants hecein c~ntaincd ahalt bind. and the benefits and advanteges shal! inure to, the respective heirs, executas, administrators, successas, and assigns d the parties hereto. Whenever used. the singular num- ~ ber shall include tht plural, the plural the singular, and the use of any gendec shall include all genders. i ~ ! ~ r 1 s ~ ~ } ~ ~y ~ • • - _ # ~ ~ - ==Y ~ ! , . . ~ s ~ ~ - ~ - . °'~'.,3sE' ~ r.n?~ e= r. . _ a.~~~-~~~.~