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Home My WebLink About0237 ~ ' , . ~ ~ _ . ~ t :kL^.: . . ~ i~l~~~ ~ ; : ~ . l . . , - , . - - . : : . _ _ _ _ r _ • ? 5. That he will permit. commii. or s4lEel;n=~te, impa ~ r or d~terio~ation of said pcoperty or any pan thereof; and in the event ot the failure of the mocteaeo~ to keep the buildines on said premises et~d those tobe ecected on said premises. or improveme~ts thereon~ In good repeir, the matgegee may make such tepairs as in its discmt;on ic nwy deem necessa~y fa cM p~oper presecvacion che~eof. ond the tull amount of each or~d every such poyment shall be immediotely due and peyable. and shall be securcd by the lisa of this mo~tgage. 6. That he wili poy all and singulat the coets~ cha~ges~ and expenses. Irecluding reasoneble lawyer's tees, aod costs of abstracts of title, incumd o~ paid at any time by the moctgagee because ot the failure on the port of the mortgegor promptly and [ully to perEam the ag~eements ~nd coven~nts of said'ptomissory note and this mort- Qage. and said costs. cha~ges, and expenses shall be immedietely due and peyable and shell be secured by the lien aE tAis mortgage. . 7. That he will keep the improvements now existing a hereaiter erected on the mortgaged pcopeNy. inaured as may be required from time to time by the matgagee against loss by fire and other lwzards, casualties. and contln- gencies in such amounts and for such periods as may be required by mortgagee, end wilt pey promptly. when due. any pre~aiuais on such insurance for peyment of ~rhich provisioo has not beea made heceinbeEoc~. All insurance shall be carried in companies approved by mortgagee and the policies and renewels thereof shall be held by mart- gagee and have attached thereto loss payable clauses in [avor of and in form acceptable to the mortg~agee. In event of loss he will give immediate notice by mail to m~tgegee. and mo~tgagee mey a~ake proo[ of toss it not made promptly by moctgagor. and each insurance company concerned is hereby authorized and directed to meke peyment for such loss dicectly to mactgagee instead of to mortgaga and mortgagee jointly. and the insurance pro- ceeds. a any part theceof. awy be applied by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the cestoratioe~ or rcpair of the propetty dama~eed. ln event of foceclosure ot thia mortgage a othcr t~anster of title to the eiortgaged propecty in exti~guisfimeat oE the iodebtedness secured hereby. all right. title. end interest oE the me~tgaga in aad to any insurance policies then in fo~ce shall pess to. the purchaser or grantee. 8. That the matgagee may~ at any time pending a suit upon this moctgage. apply to the court having jurisdic- tion thereof for the appointment of a ceceiver. and such court shall focthwith appoiat a receiver of the premises covered hereby all and singular. including all and singuler the income. profits. issues~ and revenues from whatever sonrce derived. each aid every of which. it being expcessly understood. is heceby mortg,aged as if specificelly set forth and described in the granting and hebendum clauses hereof. and such ce~i~p ~1 bave all the broad and effective fanctions and poarers in anywise entrasted by e ~ourt to a receiver. ana ~ac1l a~ointment shall be made by such coud es en admitted equity and a matter oi absoIute right to said mortgagee. and without re[erence to the adequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagoc or the defeadents, and that such rents, pro[its. income. issues. and cevenaes shall be applied by such receiver accocdi~g to the lien oE this moctgage aal the practice of snch coud. in tlw~ aveot 6[ ta~r~teult~oa the part of the mortgago~ hereunder, the matgagor agrees to pey to the mortgagee on demand as a reas bHr laonth[y rental fw the premises an amount at least eqpivelent to oae-twelfth (1/12) of the aggte~,ate d tLs .tpr~lyg m~thly install- ments payable in the then c~ureet year plus the actuel amount of the annusl taxes, assassineats, water rates, and insurance p~emiums for such year aot covered by the afo~esaid monthly poym~nta. ~ ~ ~ 9. That (ol in the event of any breach of this mongage or defeult ua tbe pad of tl~e e~atg,ngor, or (b) ia the event that any of said sums of money herein referred to be not pconptly and fully peid ~rithout demand or notice. or in the event ihat each and every the st'ipulations. ag~eements. conditions, and covent~nts oE seid note and ~ this mortgage, are not duly. promptly. and Eutly performed; then in either or any such event, the said aggregate ~ sum meotione~ ia said note then remaining unpaid. with interest accrued to that tlme, and all moneys secu~ed hereby. shail become due and poyable fo~thwith. ar thereafttr, at the option of said matgagee, as iully and com- pletely as if all of the said sums of money were originelly stiputated to be psid on auch day, anything in said ' note or in this modgage to the contrary not~rilhstanding; and thereupon a thecea[ter, at the option d seid matga- ' ; gee, withont notice or demand, suit at larv oc in equity. may be ptosecnted es if all moneys secured heteby hed i matured prior to its institution. The mortgagee may fo~eclose this matgage. as to the emount so declared due and payable, and the seid premises shali be sold to sstisfy and pay the same together with co~ts. expenses,and allaw- ~ ances. {n case of pertial toreclo~ure of thia mo~tgage, the a~ortgeged premises shall be sold subject to the con- i tinuing lien of this mortgage fa the amoant d the debt not then dne and unpaid. Ia such case tbe provisions oE ~ this paregreph m~y ag,'in be a~railed of thereafter from time to time by the mortgagee. ; ~ ~ 10. Tl~at the mottg,nga will give ima~ediate notice by mail to the mo~tg,~gee ~ any conveyance. transfer, or , change of aovnership of ihe pcemises. ~ ~ 11. That ao waiver of eay covenaat herein or o[ ihe obligation secuced hereby shatl at any time thereafter be j held to be a~aiver of the tenms hered or of the note secnred heceby.~ ; 12. That if the mo~tgagor default in ~ny of the ~ovenanta or ag~eements contaiaed herein, a in s~id note, then the mortgagee may perform the sam~, and all expenditutes (including reasonable attauey's fees) made by the mortgagee in so doing shall draw interest at the rate set fath in the note secured hereby. and shall be repayable ~ immediately and without demand by the moctgaga to the mortgegee, and, together aith interest and costs acccuing q thereon. shall be secured by this modgege. ~ ~ ~ 13. t6at the mailing ot a aritten notice a demandaddcessed to the opner ot record of the mortgaged premises, or directed to the seid awner at the last address ectually furnished to the mortgagee, a directed to said av~r at said mortgaged premises. and mailed by the United States mails, shall be snfficient notice and demand in sny case arising under this insirument aad required by the pcovisions 6ereoE or by law. 14. The mortgegor further covenants t6at should this mat age and the note secated hereby not be eligible - ~ for iaaurance under tbe Natiawl Housing Act vritl~in QA~ fran tbe date 6ereof {written statemeat ~ of any officer of the Depe~tment aE Housing and Urban ~velapment or authorized agent af the Secretary of Hous- ~ ~ ing and Urban Developmeot dated subseque~t to~ the j(~ Q~~$ time from the date of this mortgege, ~ declining to -insure said note and this matgpge, being dee~o+sd co~clusive proot of such ineligibility). the moct~a- gee or the holder of the note may, at its option. declere all snms secured hereby immedietely dne and poyable. ~ The covenants herein contaiaed shall biad. and the benefits ar~d advantagies shall inure to, the respective ~ heirs, esecutors, administrators, successas. and assigps d the parties hereto. Whenever used, the singular num- ber shali include the plural, the plural the singutar, end the ure o[ any gendec slwll include all eenders. ~ ~ ~ ~ ~ . ; ~ ~ ~ f ~ - • ~ . ~ _ _ - - W ~ a. .