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Home My WebLink About1655 i `r~~ t ~ ~ ~ . ~ ~ ~ ( S. That he will permit, cummit, ot sui(et no waste, impairment, or deteriorution o( seid propetty or any purt 3 thcrcu[; and in the cvent o( thc (ailure ot the mortgugor to keep lhe buildings on said premises end those tobe ~ ec~Y-ted on snid premises, or ~mp~ovements thereu~, in good repair, lhe murtgugee may make such repai~s us in its ~ discretion it may deem ~ecessary for the propet presen•~tion theceo(, and the [ull amount of each ~nd eve~y ~uch payment shnll be immedi:~tely due und payable, a+nd shall be secured by Ihe lien of this mortgage. i b Tha1 he will p~iy all and singula~ the catits, charges, and expenses, includtng ret~sonable lawyer's tees, and co~t~ uf abst~acts of title, incu~red or paid at any time bythe mcxtgagee because o( ihe failute on the part of the mortgugor prompti~~ and Cully to per[orm the a~ceements and coveaants of said'promissory note And this mort- gaKe, und seid costs, churges, und expenses shall be immediately due and payable and shall be secured by the ~ lie•n of this mortKage. ~ 7. That he wi11 keep thr imp~ovemrnts nuw existing or hereafter ecected un the mo~tgaged prope~ty. insured as ~ mH~• be requi~ed trum time to t~me by the mocigt+gee agai~st la~s by fire and other hazards, casualties, and cootin- R kenries in surh :+mounts und (or such periods as may be required by mo~tgagee, and will pay ptomptly, whe~ due, ~ :+a}• premiums on such insu~ance Eor pnyment of which prot~ision ha~ not been made hereinbe(ore. All insurance .hail br carried in compunies ~ppro~•ed by mottgagee and the policies and renewals thereof shall be held by mort- KuKee i~nd hare attarhed thereto lo~s palable clausrs in (~vor of and in form acceptable to the mortgagee. In e~•ent of loss he will Kive immediate notice by ma~l to mortgagee, and mortgagee may make proof of loss if not madc promptly by mortgagor, and each insurance company concerned is hereby authwized and di~rcted to make p:+yment Eor such loss dicectly to mortgagee instead of to mo~tgagot and moctgagee jointly, a~d the insucance pro- reeds, or ~m• part thereot, may be applied by mortgagee at its option either to the reductioo o[ the indebtedness hereby secured or to the restoration oc repair of the property damaged. In event of foteclasure of this mortgage or other trans(er oE title to the martgaged p~opett3 in extinguishment of the indebtedness secuied hereby, all right, title, and intere~t of the mortgagot in and to any insucance policies then in torce shall pass to the purchaser or grantec. 8. That the moitg:~gee may, at any time pending a suit upon this mortgage, apply to the court having jurisdic- tion thereof for the appointment o[ a receiver, and such court shall (orthwith appoint a receiver of the premises co~•ered hereby all and singular, includiag all a~d singular the income, profits, issues. and revenues ftom whatever , ~uurce de~i~~ed, each and every of which, it being expressly undetstood, is hereby mortgaged as iE specifically set ~ [orth ;~nd described in the granting and habendum ctauses hereof, and such receiver shall have all the braad and ~ effect~~•e functions a~d pow•ers in an}•wise entrusted by a court to a receiver, and such appoiniment shall be made b~• ~uch court as an admitted equity and a matter of absolute right to said mortgagee, and withorYrlfetence to the adequac~• at inadequ:,r~• of the ~•alue o( the propeny mortgaged or to the solvency or insolvency af said mortgagor ~ o~ the drirndents, and that such rents, profits, income, issues, and revenues shall be applied by such receiver 's accordink to the lien uf this mostgage and the practice of such court. ln the event of any deEault on the pert of the ~ mortgagor hereunde~, thc mortgag.~r agrees to pay to the mortgagee on demand as a ~easonable monthly rental for the p~emises an amount at least equivalent to one-twelfth (1/12) of the aggregate of the twelve monthlyinst911- rnents pa~~able in the then current year plus the actual amount ot the annual taxes, assessments, water rates. and insuranre premiums fur such year not co~ered by the aforesaid nonthly payments. That r„ r in the event oE any breach of this mortgage or defautt on the pad of the mortgagor, or (6) in the <<•ent that an~~ of said ~ums of money herein referred to be not p~omptly and fully paid without demand or notice, ~ ur ~ in.the e~-ent that each and e~•ery the stipulations, agreements, conditions. and covenants of said note and ~ th~s mortgage. are not duiy, promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned in said note lhen remaining unpaid, with interest accrued to that time, at~d- all moneys secured hereb~~, shaU become due and payable forthveith, or thereafter, at the option of said mortgagee. as fully and com- ~ ; pletel}• as if all of the said sums of money were originally stipulated to be paid on such day, anything in said ' note or in this mortgage to the contrary notwithstanding; and thereupon or therea[ter, at ihe option of said mortga- ~ i gee, without notice or demand, suit at law or in equity, may be prosecated as if all moneys secured heteby had ~ E matured prior to its institution_ The mortgagee may foreclose this mortgage, as to the amount so declared due and pa~•able, and the said premises shall be sold to satisfy and pay the same together with costs, expenses,and allove- ; ~ ances. ]n case of partial forectosure of ihis mortgage, the mortgaged premises shall be sold subject to the con- ~ ~ tinuing lien of this mortgage for the amount of the debt not then due and unpaid. In such case the provisions of ~ R ; this paragraph maS• again be availed of thereafter from time to time by the mortgagee. ~ 10_ That the mortgagor wilt give immediate notice by mail to the mortgagee of any conveyance, transfer, or q ¢ change of ownership of the premises. ~ 11. That no waivec of any~ covenant herein or of the obligation secured hereby shall at any time thereafter be ~ held to be a wai~•er of the terms hereof or of the note secured hereby. - ~ 1?. That if the mortgagor default in any of the covenants or agreements contained herein, oc in said note, then the mortgagee map perform the saine, and all expenditu~es (including reasonable attoraey's fees) made by the ~ mortgagee in so doing shall draw interest at the rate set fo~th in the note secured hereby, and shall be repayable immediately and without demand by the mortgagor to the mortgagee, and, together with interest and costs accruing thereon, shall be secured by th~s mortgage. x ~ 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 address actually furnished to the mortgagee, or directed to saidowner at : ~ said mortgaged premises, and mailed by the United States maits, shall be sufEicient notice and demand in any ~ ~ case aris~ng under this instrument and required by the pcovisions hereof or by law. ; 14. The mortgagor further covenants that should this mort a e and the note secured hereby not be eligible ~ far insurance under the National Nousing Act within 30 Q~~S [rom the date hereof (written statement ` of an~~ officer of the DepFrtment of Housing and Ucban Development or authorized agent o( the Secretary of Hous- ~ ing and Urban Develope~ent dated subsequent to~ the 30 time from the date of this mortgage, ~ declining to insure said ~note and this mottgage, being deem~~d co~c usive proof oE such ineligibility), the mortga- ~ gee or the holder of the note may, at its option, declare al4 sums secured hereby immediately due and payeble. ~ The covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective ~ heirs, eaecators, administrators, successors, and assigns of the parties hereto. Whenever used, the singular num- ber shail ~nclude the plural, the plural the singular, and the use of any gender shal! include all genders. ~ ~ ~ . ~ ~ ~ f ~ ~ ~ aao~ l~i 1551 ~ ~ _ ~ _ ~ _ ~ . . - ._~.,,X~:u w~~