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Home My WebLink About0876 ` ' ` . ~ . ~ ~ `l • 5. That he wilt pecmit, commit. or sufte~ no waste, impairment, or d~teciacation ot said p~opecty or any p~~t thereof; and in the event of the tailure of thr mortgego~ to keep the buildin~s on said premises wnd those tobe ecected on said premises. oc improvementa thereon, in good repoir, the moetgAgee may rtwks such reooirs aa je ~t¢ discretioe it awy decm necessery for the pcopet prrsen?Atioo the~eof. and the fuil amount of each qnd evecy such payment shall be immedietely due and peyable. and shall be secured by the lien oE thia mortgage. 6. That he will pay all end singular the casts. char~es. and expenses. including reasoaabte lowyer's Eeea, and costs of abatcacts of title, incuned ot paid at any time by the mortga ee because of the failure oe the part ot the mortgagot ptomptly and Eully to perfutm the a~reements end coveaant~ ot said 'promissory note pnd this mott- gage, and said costs. charges, and expenses shall be immediatety due and payable and shall bt secured by the lien af tbis mottgage. 7. That he will keep the improvemeets now existing or heceafter erected on the matgpged pcopedy~ insured as may be required fwm time to time by the mortgagee ageinst loss by [ice and othe~ hazards. cASUOlties. and contin• gencies ie such amounta and tor such pe~iods as may be requircd by mateagee. and will pay promptly. when due. any premiua~ on such insuranc-e fn~ ~wvn~.~t ~+F .hirh nmv~ei~u. F~A. ±...t M..w f...e.~t._I.^.__ ~t~ w~~ shaU be carried in companies app~oved,by matgagee ~nd the policies and renewels thereoi shall be held by~mort- gagee and have attached thereto loss payable clauses in favor of and i~ fam acceptable to the anodgegee. !n event of loss he will gi~e immediate notice by meil to moctgagee, and mortgagee mey rtwke pcoof ot loss if not made promptly by mortgagor, and each insurance company concerned is hereby authorised and directed to meke payment for such loss dicectly to modgagee i~stead of to moKgagor and motteagee jointly~ aad the insurance pto- ceeds. or any pa~t thenwf. may be applied by mortgagee at its optioo either to the reduction of the indebtedness heceby secured or to the restoratian or repair af the propedy demaged. tn event af toceclosure oE this enoctgege or other transfer of title ta the awrtgaged pcoperty in extinguishment of the indebtedness secured hereby. alt right. title. and interest of the moctgaga ia and to any insurance policies then in fo~ce shell pass to the pucchaser or grantee. 8. That the mortgagee ~aay~ at aay ti~ae pending a suit upon this mo~tgage. ~pply to the court heving jarisdic- tion thered fo~ the appoint~oent of a receiver, and such cwrt stwll fodhwith appoint a ceceiver of the premises covered heceby alt and singular. iacludiag all and singuler.the incoaie, profits. issues. and revenues from whetever source derived. each and every of which. it beirtg expressly understood. is heceby modgaged as it specifically set foKh a~d described i~ the gcanting and habeodum clauses heceof. and such receiver shall have all the broad and effective functions and powers in anyarise entrusted by a conrt to a receivet. and aach appointment shall be made by such coud as an admitted equity and a a~etter of absolute right to'spid a~ort~g~tai, j~iid~ thout refecence to the adequacy or inadequacy of the value of the property mortgeged or to the solvency a iasofvency of said matgagor or the defendents. artd that sucl~ rents, profits, income, issues. and tevenues slw~lt be applled by snch receiver according to the lien of this mo~tgage and the practice ot such court. In the evant oE any default on the ped of the mortgagor hereunder. the matgagor agrees to p~y to the mortgagee on demand as a rersawble monthly rentet tor the premises an amount at least eqpivalent to oae-t~velfth (1/12) of the aggr~g,~te d tbt hvelve monthly instalt- ments payable ie the then current year plus tbe actual amount oE tl~e aanual toxes, assessments water rates. end insurance premiums Eor such year not covered by the aEoresaid monthly payments. 4'-~;~~ _ 9. Tha! (Q1 in the event of any breech of this mortgage or default on the pact of the modgagor. or (6) in the event that .any of said sums oE money herein reEerred to be not promptly and fully paid without demand or notice. or (c1 in the event that each and eve'ry the stipulations~ ~gceetoents~ coaditioas. and covenants of said note snd this matgege, are not duly. promptly. and fully perforaied; then ia either or any such eveM, the said aggcegate sum mentioned in said note then remaining unpaid. with interest s~ccrued to that time, and all mo~ys secured ' hereby. shell become due and payable forthwith. or thereafter, at t6e option of said mortgagee~ as fully aad com- pletely as if all of the said sums of money were origiaally stipulated to be psid on such day, anything ia seid ~ note a in this mortgage to the contrary natevithstanding; and tl~ereupon oc thereafter. et the optioa of said mortga- ; gee, withont notice or demand. suit at laa or in eqnity, awy be prosecuted as if all mooeys secured hereby hed ~ matured prior to its institutian. The moctgegee may forecl~e this moct~age. as to the aaaunt so declered due and i payable. and the stiiid premises shall be sold to satisfy aod ~y the same together with casts. expeases,and allow- ~ ances. In case of partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con- I tinuing lien oE this moctgage for the amouM oE the debt aot then due and unpaid. In such case the provisions oE ~ this paragraph moy egaia be availed of thereafter from time to ti~ne by the mortgagee. ~ 10. That the mortgago~ will give imaiediate notice by mail to the mortg,agee of any conveya~ce. transfer. or , change of orvnership d the premises. 11. Tbat ao ~veiver of aoy coveaent herein oc of t6e obligatioa secured heceby shall et eny time thereafter be held to be a waivtr of the terms hered or of the aote secured heteby.~ 12. Tlsat if the moetg,aga default in eay of the covenaats or agreeo~ents contained berein, or ia said note, t6en the woctg,age~ may perform the samg, and all eapendituc~s (including reasonable attaaey's feer) made by the mortgagee ia so doing shall draar interest at the rate set fath in the note secured hereby. and shall be repoyable immediately and without demaad by the moctgagat to the matgagee, and, togethet ~vith intetest and costs accruing thereon, shall be sec~urd by this modgage. ~ 13. that the mailing of a wcitten notice or demand addressed to the owner of recocd of tbe matgaged pcemises, ~ or directed to the said oarner at the last address actuslly fumished to the mortga~ee, ar directed to said o~vuer at , said mortgag~ed pcemises. and mailtd by the United Statea mails, shall be sufficient aotice and demnnd in eny ~ case atising under this instrumeat aad cequired by the p~ovisions hereof or by lew. 14. The mortgagor further covenaats that sheuld tbis aatgage pnd the note secnred lKreby not be eligible for iosurance under the Nationa! Housing Act wiWin y~ fcom the date bered (written statement _ of any officer of the Depairtment of Housing and Urban De.K~~lopment oc a~horized ageat ef the Secretary of Hons- ~ ing and Urban D~velopment dated subsequent to~ the ~~YS time fmm the date d this mostg,age, ~ declining to insure said nde and this matgage, being dee~d canclusive proof of such ineligibility), tbe moctea- ~ gee or the holder af the note may. at its option, declerc all sums secured 6ereby immediqte~y dtie"and p~ysble. ~ 7he covenants ~rerein con~iiried shall bind, and the benefits and advaatagea ahall inure to, the respective ~ heirs, ezecutaa. administrators, successas, and assig~?s d tbe pa~ties hereto. Whenever ased, the singular num- ~ ber shall include the pliual, the plural the singular~ and the use of any gender shall include al! genders. x ~ ~ ~ - 't t ' `i i ~ a~192 874 ~ . ~ _ . _ _ _ . ~ ~~-~3~. ~~~~~:r~'°" ~ . _