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Home My WebLink About0759 - - _ ' _ : _ _ . _ - - - - - - - - _ _ _ _ - - - - - - - - _ - - , . l,~ ~ ~ . ~ 1 5. That he wil! permit, commit. a sulfe ~~aste~ im ' m~nt. o~ deteriaation ot said prope~ty or any pa~t thereot; and in the eve~t ot the failure'o(~t~~~~tgagoc to~~ the buildings on said premises end those tobe ~ erected on said premises. or improvemants t on. ~n good ~a . the raortgagec may rtwke such repeirs as in its disc~etion it iaay deem necessary fa the propor pceservation the~eol, end the full amount ot each and every such payment shall be immediately due and p~yable. and sfiall be secuced by the lien of this mo~tgege. 6. That he wlll pey ell and siogular the costs, charges. and expenses. iacluding reeso~able lawyer's fees. and costs ot abstracts of title, incurced or Paid at any time by the matgagee .because of the failure on the pert of the mortgaga pcomptly and fully to perfor~n the agceements a~d coveaants of said'pcomissory note and this mort- gege. a~ said costs. charges, and expenses shall be iaamediately due end peyable end shall be secured by the lien of this mortgage. 7. That he will keep the ieaprovements now existing a herea(ter erected on the mortgsged propedy. insured as may be required from time to time by the mortgagee against loss by fite a~ other hazards, casualties. and contin- gencies in such amounts and for such periods as may be required by matgegee. and will pay promptly. when dne. a~y pceauums on such iesura~ce tor peymeM of ~rhich provision has not beea made hereinbefo~e. All insurance shall be carried i~ companies ~pproved by matgagee and the policies a~d reoewels thereof shall be held by mert- gagee end have attached thereto loss payable clauses in tevor of ar~d in focm acceptable to the mortgagee. In event of loss he will give immediate rtotice by mail to mortgagee, and matgagee may make proof of Ioss it not made promptly by mortgagor. and each insuraace comperty concemed is hereby authorized and d'uected to meke Payment tor such loss directly to mortgagee instead of to mortgagoc and mortgogee jointly, ond the insurance prw ceeds. or any part theceoE. may be applied by matgagee et its option either to the reduction of the indebtedness hereby sccured or to the restoration n~ repeir of the property damaged. In event of foceclosare of this mortgage or other t~ans[er of tltle to tho mortgaged property in extiaguishment ot the indeWedness secured hereby, all ~ight. title. a~d interest of the mortgagor in ond to any i~sura~ce policies then in force shall pess to the purchaser or ; grantee. ~ 8. 1'hat the mortgagee may~ at any time pending a suit upon this moctgage~ apply to the court having jurisdic- tio~ thereof foc tbe appoiatme~t of e receiver. snd such court shall forthwith appoint a ceceiver of the premises ~ coveced hereby all and singulu. iacluding ell and singular the income. profits. issues. f~d ien~ from whatever : source derived. each and every of which. it beieg expressly understood. is hereby moctgeg~as if specifically set forth and described in the granting and habendum clauses hereof~ and such receivet shall hsve all the broad and ~ effective functions and powers in anywise entrusted by a coart to a receiver, and such appointment shall be made ~ by such court as an adraitted equity and a matter oE absolute right to said mort~~e. bnd ~it~out sefennce to the adequacy or inadequacy of the value of the prope~ty moctgaged or to the solvency a insohiency of aMd mottgagor or the defendents. and that such rents, profits. i~come. issues. and revenues shal! be applied by suCb receiver according to the lien of this mortgage and the practice of such court. In the event af any default oa the pad of the mortgagor hereunder. the mortgagoc agrees to pey to the mortgagee on dea~and as a rs~saoable u~onthly rental for the premises a~ amount at least eqpivalent to one-twelfth (1/12) of the aggcegate of the twelve monthly install- ments payable i~ the then current year plus the actual amount of the annoal taxes, assessments. Mrater rates, and insurance premiums for such year not covered by the aforesaid monthly peymeats. 9. That (a) in the event oE any breach of this mortgage or default o~ the part of the modgagoc, or (6) in the event that any of said sums of money herein referred- to be not promptiy and fully paid without demand or notice. or (~1 in the eve~t that each and every the stipulations, agreements. cooditions. and covenents of said note and this modgage, are not duly. promptly. and fully performed; thea in either or any such event. the said eggregate sum mentioned in said note then remaining uapaid. wlth ioterest accrued to that time, and ell moaeys secured hereby, shall become due and payable forthwith, or thereaftet. at the optian of said mortgagee. as fully and com- pletely as if alt of the said sums oE money were originally stipulated to be peid on such day, anything in said note or in this mo~tgage to the contrary notwithstanding; and thereupai or theceafter. at tl~e option of said matge- gee. without notice or demand, suit at lew or in equity, may be prosecuted as if all moneys secuced hereby had matured prior to its institution. The mortgagee may foreclose this moctgaQe, as to the artwunt so declared due and ~ payable, and the said premisea shall be so~d to satisfy and pay the same together with costs. expenses.and allow- ~ ances. [n ca~e of pertial foreclosuce of this moctgage, the mo~tgaged pcemises shall be sold subject to the con- E tieuing lien of this mortgage for the emou~ d the debt not then due and unpaid. In such cese the pcovisions of ! this paragraph may eg,~ia be availed oE thereafter from time to time by the mortgagee. 10. That the mortgagoc will give immediate notice by mail to the modg,agee of any conveyance, transfer. or ~ change of ownership of the premises. ' ~ 1~. That ao waiver of any covenant hereia o~ of the obligation secured hereby shall at any time thereafter be ! ~ held to be a waiver of the terms hered or of the note secured hereby.~ i 12. That iE the mo~tgagor default in any of the covenants a agceemeots contained hereia. a in sa~! note, then ` ~ the mortgagee may pedorm the saa~, and atl e:penditutes (including reasonable attaaey's fees) made by tbe ! ~ mortgagee in so doing shall draw interest ot the rate set forth in the note secured hereby. and shall be repayable ~ immediately and without deinand by the moctgagac to the mortgagee, and, together witb iaterest and costs accruing ~ ~ thereon, shall be secured by this mortgage. ' , ~ 13. that the m~iling of a written notice a demandaddressed to the owoer ~ record of the mortgeged premises, or directed to the said ovraer at the last address ectually furnished to the matgagee. or directed to said uwner at F said a?ortgpged premises, and mailed by the United States mails, shall be sutficient notice and demand in eny ~ ~ ~ case arising under this iastrument and cequired by the provisioas heceof or by law. ~ ~ 14. The mortgagor further covenants that should tbis ma~tgage and tbe note secuced hereby aot be eligible ~ for iasurance under the Natiaoal Housing Act within ~ QA~ from tbe date hered (anitten statement ^ of any otEicer of the Depertmeat of Housing and Urban DeveloQment or authorized agent of tl~e Secretary of Hous- ~ ing and Urban De~velopoent dated subsequent to~ the 3O p~~ time from the date oE this matgs+ge, g declining to insure said note and this mortg,age, being dcem~caaclusive pcoof af such-ineligibility), the moctga- ~ gee o~ the holder af the note may, at its optioa, declare ell sums secured hereby immedietely dne and Qaypble. ~ The covenants herein contained ahall bind, and tbe beaefits and ~dvantages s6a11 inure to, tLe respective ~ heirs, executors, administrators, successas, and assigns d ihe porties hereto. Whenever used, the singular num- 4 R ber shall include the plural, the plurol the singular, and the use of eny -gender shell include all genders. ~ ~ ~ ~ / ~ t ~ ~ ~1~ .75~ ' ~ : ~ . ~ ~ _ - - _ „x c,.~.,- _ x 5 '~w r-~'~°.,~' d~~e~~_ ..v __a- ~ ~r~3--~~. ~ - -