The URL can be used to link to this page

Home My WebLink About0754 ~ , . \ i ~ . t . iS~ S. That he will permit. commit. ot sufter ~rlr~te. impelfine ~ or deterioration of said prope~ty or a~y po~t thereof; and in the event of the teilure of the mortgagor to keep the buildin~s on said premiaes and those tobe erected on said pcemises. or improvements the[eon. in good ~epair. ihe mortgagee may make such repairs es in its discretion it awy deem necessocy tor the p~oper presecvatioo thercot~ and the tull amount of each and every such poyment shall be immedietely due ond peyable. and shail be secured by the Iien of this mortgage. 6. That he will pey all and singular the costs. charges. and expe~ses, including ~easonable loaryer's Iees~ ond costs of abstracts ot title. incurred a paid et any time by the matge~ee beceuse oE the feilure oe the pert of the mortgagor pcQmptly and Iully to perforra the agreewents and covenants oE a~id'promissory note and this mort- aaae e~ ee;a ~~.e L_~~ ~:_~:_._~j ~se actd payable and shall be secuced by the ~~0~ ~ ~ • i~++~b~u~ 4 Y t~A V.~{JVJ JiaYil Y6 liii~YLliiQ~Lri llen of t6is mortgege. 7. That he will keep the improvements now existing a hecratter erected on the matgaged prope~ty, insured as mpy be required fmaa time to time by the mortgagee against loss by [Ire and othe~ hesards, ca~arltie~. and contin- gencies in such amounts and for such pe~iods as may be required by matgegee, end will p~y promptiy. whee due. any premiums on such insure~e foc payment of which pcovisio~ has not been made hereinbefoce. All insura~ce shall be cacried in componies approvrd by mortgagee aed the policies ond cene~vals theceof shall be held by mat- gagee and have attached thereto loss payable clauses in Iavor of and in form acceptable to the mortgagee. In event of loss he will give immediate notice by mail to mortg,agee. ar~d mortgagee may make p~oot of loss if not made promptly by matgegor. and each insurance company concerned is hereby authaised ond directed to make payment for such loss dicectly to mortgagee instead of to matgagor end mortgagee jointly. and the insurance pro- ceeds~ or any part thereof. awy be epplied by mortgagee at its option either to the rednction of the indebtedness hereby secured or to the restoration oc repair of the property damaged. In event of foreclosure af this moctgage or other t~ansEer of title to the matgaged prope~ty in exti~guishme~t of the indebtedness secured hereby. alt ~ight, title. and interest ot ihe mortgago~ in and to any insurance policies then in force shall pass to the purchaser or grantee. 8. That the moetgagee may, at any time pending e suit upon this mortgage. apply to the court having jurisdic- ! tion thereof for the appointment of a receiver. and such coud shall forthwith appoi~t a receiver oE the premises coveced hereby all and siagulor, includiag all and singular the income. profits, issues. and revenues from whatever source derived, each and every of which. it being exp~essly unde~stood. is hereby mortgaged es if specifically set forth and described in the gcanting a~d hebendum clauses he~eoE. and such rece~r,~ 1.~t~e all the broed and etfective fu~ctions and powers in anyvvise entrusted by a court to a receiver. and ~d~6'a~Atiment shall be made by such cou~t as an admitted equity end a matter of absolute right to seid mortgagee. and without refecence to the adequacy or inadequacy of the value of the pr~pedy mortgaged or to the solv`pcy oc inaolv~Acyr+of spjd mortgaga or the defendents, and that such rents. proEits, income. issues. and revenue~ ~hal~ be opplie~ b~i such receiver according to the tien of this moctgege and the practice of such couK. ln the event of any default on ti~e pad of the mortgagor hereunder~ the matgagoc agrees to pay to the mortgagee on demand as a ceosooablt monthly rentat for the premises an amount at least equivalent to one-twelfth (1/12) of the aggregate af the twelve monthly install- ments payable in the then cunent year plus the actual amount of the annual taxe=. assessments. water rates, and insurance premiums for such year not coveced by the a[oresaid monthly payments. 9. That (a) 'sn the event of any breach of this mortgege or default on the pert of the mortgagor. or (b) in the event that eny of said sums of money herei~ referred to be not promptly and fully paid without demand or notice. or in the event that each and every the stipulations, agreements. caeditions, and covenants of said note and ; this mortgage, ere not duly, promptly, and fully performed; then in either or any such event. the said agg~egate sum mentioned in said note then temaiaing unpeid. with interest accrued to that time. and all mooeys secuced hereby, shall become due .and payable forthwith, or thereafter. at the option of said mortgagee. as fully and com- pletely as if all of the said sums of money were originally stipulated to be paid on such day, enything in said note or in this mo~tgage to the contrary notwithstaading; and tl~ereupon or thereafter, at the option oE said matga- gee, withaut notice or demand. suit at law or in equity, may be prosecuted as if all nwneys secured hereby had matured prioc to its institution. The moctgegee mey foceclose this mortgage, as to the amount so declared due and ' payable. and the seid premises shall be sold to satisfy and pey the same together with costs. e:penses,and allo~v- ; ances. ln case of pertial forecloeure oE this matgage. the mortgaged premises shall be sold subject to the con- ~ ~ tinuing lien of this mortgage for the amonM ef the debt nd then due and unpaid. tn soch case the provisions of ~ i this peragraph may again be availed of thereafter ftom time to time by the mortgagee. r ~ i0. That the modgagor will give immediate notice by mail to the modgagee of any conveyance, transEer, a ~ E change of awnership of the premises. - I 11. That no waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be ' € held to be a waiver of the terms hereof or of the note secured hereby.~ ~ 12. That if the mortgagor default ie any of the covenents a agceements conteined herein. or in sa~ note, then the mo~tgagee may pedorw the samg. and all expenditutes (iacluding reasonabie attoraey's fees) made by the mortgagee in so doing shalt draw interest at the rate set forth in the note secured hereby, and shall be repoyable immediately aad without demand by the mortgagor to the mortgegee, and, toge~her with interest and costs accruiag thereon, shall be secured by this mortgage. 13. t6at the mailing of a written notice a demandaddressed to tbe owner oE cecord of the mortgaged premises. or directed to the said owner at the last address act~lly furnished to the moctgagee, or directed to said awaer at said uwttgaged pre~nises. end mailed by th+e United States mails. shall be sufficient notice and demand in any ~ case arising under this in~trument and required by the provisions hered ~ by law. ~ 1 14. The mortgagor f~uther coveaants that should ihis ma4gage and the note secured hereby not be eligible ~ ~ for iosurance under the Natioaal Housing Act within ~~YS from the date hereof (written statement ~ of any officer of the Department oE Nousing and Urban velopment or authaized agent af tbe Secretsry of Hous- , ' ing and Urban Developmeat dated subsequent to~ the ~ ~AY$ time from the date af this mortg,age, ~ declining to insure said ade and this moetgage, being deea~.,d coaclusive proof d such ineligibility), the moctga- ` ~ gee or the holder af the note may, at its option. declare all sums secu~ed hereby immediately due and paysble. ~ ~ The covenants herein contained shall bind, and the benefits and advaateges shall iaure to, the respcctive ~ heirs, executas, edministrators, successors. and assig~s af the pacties hereto. Wl~enever used, the singular num- ~ ber shall include the plural, the plural the singular, and the use of any gender shall include all gendecs. ~ ~ i ~ ~i~2 . F; 7~~ ~ ~ ~ ~ ~ Y..i - . , . . _ " ~ ~ _ _ _ Y°`°~,Yi,t' 4 ~ 'c ~ -s ~'4 ,s ~ .:~tzt. .E..~ ~'.Ei^~'x`~" i . ~ v.t . . . _ _