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Home My WebLink About1892 ~ ~'~r ~ ~ - S. That h~ w•~II p~•~m~t, cummit, at tiu([tr no K~ste, impaicment, ot detetiotalion af sa~d property or ,~ny p.ul th~~~r.~f, i+nd in thr r~~~~nt <~f the lu~luce of the murfKaKor /u keep the build~ngs on sa~d premises und th~~.tie tobe rrrct~~d un ~a~d pmmi~r~, or ~mptov~me~nt~ thercu~, in Rood rep:?ir, !hr mottgugee m.iy make such re{x~its s~s in its ~1~~. ~r•t:on ~t m~y dee~m ncce~saty to~ the p~oper prese~~~ation thereof, and the full amount o[ each aod every such pa~~mE~nt sh;~ll be ~mmed~ately due and pt+~•t?ble, and shall be secun~d bv the lien o( this mottg:~ge. ~ b Thut he w~ll Ek~~• till und singular the c:~ts, churges, and ex~~nse~, including ~easonable lawyer's (ees, ~ and ru.h ul abstracts af title, incurrc~ei cx pc~id at uny timN byth~ mortg~gee because ot the [ailure on the part e,( the murt~;:+Rur ptumptly and fuUy to per[~m the aRic~emcnts and covena~ts of said prom~s~ory note and fh~s mort- Ka~;e, and ~aid costs, ch:+rgr~, and expc•nse~ shall be immed~:~tely due ~nd F?:+yable and shall be ~ecurc~i by the I~e~n of th~s mort~;.i~c. 7 That he ~•ill keep the improvemcnts now~ existing or herea(ter erected on thc murtgaged properly, insurcYl ns ma~• be cequ~ted itom time to time by the mottgs~Ree against loss by fire .+nd other hazs+rds, c.isuallies, :~nci coni~n- ~;encit~~ in ~uch amounts and for ~uch periods as may be requi~ed by mortgagee, and will pay promptly, when due, an~~ pmm~ums on sucfi insurance fot payment of which pravisi~n has not been m~de hereinbefo~e. All insurance ~hall br ~•arned ~n companies appro~~ed b~• mortgagee and the policies and renewals ther~of shall be held by mort- ~;.iger and ha~•e attached themto loss pa~•able clauses in fa~•or of and in form acceptable to fhe mortgagee. ]n r~•rnt of lus~ he will Ki~~e immediate not~ce by ma~l to morlgagec, and mortgei~ee may make ptoof of loss if not ma;ic• prumptl~• h~• mortgagor, and each in~urance comp:+ny conce~ned i~ hereby authorized and directed to make Eui~•me~t for ~uch lo.tis dimctly to mottgc~gee instead ot to mortgagw and martgaRee jointly, and the insurance pro- cecds, a~ an~~ part the~eof, may be applied by mortgagee at ~ts option either to the ~eduction o( the indeb?edness herebp secured ur to the resto~ation or repair of the propertV damaged. In e~•ent of foreclosure of this mortgage oc other tr.~n~fer o( title to the mortgaged property in extinguishment o( the indebtedness secured hereby, aU right, t~tle, and intere~t of the mortgagoc in and to an~ insurance policies then in force shall pass to the purchaser or ~;r:+nt cc . 8. That the mottgagee may, at any time pending a suit upon this mortgage, apply to fhe court having jurisdic- t~o~ lhereof for the appointment of a receiver. ~uch court shall forthwith appoint a receiver of the premises co~•ered hereb~• all and singular. including all and singular the income, profits, issues, and revenues from whatever suurc~ der~~•ed, each and every of which, it being expressly understood, is herehy p~ottg,a~ed as i( specifically set • iorth and described in thc granting a~d habendum clauses hereof, a such receiver sha1C have all the broad and cffert~~•e functions and pov?ers in an~•wise entrusted by a court to a r eiver, and such appointment shall be made M• ~unc ~ourt as an admitted equity a~d a matter of absotute right said mortgagee, atd wrthout reference to the .~deqvacy or inadequac~• o[ the ~~alue oE the property mortgaged or to lhe salvency ot insolvency. of said mortgagor or the defendents, and that such rents, pro[its, income, issues, and revenues shall be applied by such receive~ accurdin~ to the lien of this mortgage and the practice of such court. ln the event oE any default on the part of the mort~agur hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reasonable monthly rental for the premises an amount at least equivalent to one-twelfth (1'12) of the aggregate of the twelve monthlyinstall- ments pa~•able in the then current year plus the actual amount of the annual taxes, assessments, water rates, pnd ' ~nsurance prem~ums for such year not covered by the aforesaid monthly payments. 9. That (~,1 in the event of any breach of this mortgage or de[ault on the part of the mortgagor. or in the e~•ent that an~• of said sums of money herein reterred to be not promptly and fully paid without demand or notice, S or - in the event that each and every the stipulations, agreements, conditions, and covenants of said note and this mortgage, are not duly, promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned in said note then remaining unpaid, with interest accrued to that time, and all moneys secured hereb~•, shall become,due and payable fwthwith, or thereafter, at the option o[ said mortgagee, as fully and com- pletel~• as if all of~the said sums of money were o~iginally stipulated to be paid on such day, anything in said ' note or in this mortgage to the contrary notwithstanding; and thereupon or theceafter, at the option of said mortga- ~ee, w ithout notice or demand, suit at law or in equity, may be prosecuted as if all inoneys secured hereby had s i matured priot"io 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 al[ow- ~ ances. In case of partial forectosure of this mortgage, the mortgaged premises shall be sold subject ta the con- ~ tinuing lien of this mortgage for the amount of the debt not then due and unpaid. In such case the provisions of ~ this paragraph ma}• again be availed of thereafter from time to time by the mortgagee. ~ 10. Thai the mortgagor wili give immediate notice by mail to the mortgagee of any conveyance, transfer, or ~ change oE ownership of the premises. ~ 11. That no waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be ~ held to be a w•ai~~er of the terms hereof or of the note secured hereby. > ~ 12. That if the mortgagor default in any of the co~~enants or agreements contained herein, or in said note, then ; ~ t~:~ mo:tgagee may~ perform the same, and all expenditu~es (including reasonable attorney's fees) made by the ~ r::ortgagee in so doing shall draw interest at the rate set Eorth in the note secured hereby, and shall be repayable ~ ~ i:~r.:ediatel~• and w•ithout demand b~~ the mortgagor to the mortgagee, and, together with interest and costs accruing ~ thereon, shall be secured bp th~s mortgage. . ~ 13. that the mailing of a Kritten notice or demandaddressed 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 m ort gage d premises, an d mai l e d by t he Uni t e d S ta tes mai ls, s ha l l be s u E[icient notice an d deman d in any ~ case arising under this instrument and required by the provisions hereoE or by law. ~ 14. The mortgagor further covenants that should this mortgage and the note secured hereby not be eligible ~ for insurance under the iVational Housing Act withen ~~YS from the date hereof (written statement _ of an~~ officer of the Department of Housing and Urban Development or authorized agent of the Seccetary of Hous- ~ ~ng and L'rban De~•elopment dated subsequent to~ the30 (~Y$ time from the date of this moctgage, Y declining to insure said note and this mortgage, being deemed conclusive proof of such ineligibility), the mortga- ~ gee or the holder of the note may, at its option, declare all sums secured hereby immediately due and pa~eble. ~ The cocenants herein contained shall bind, and the benefits and advantages shall inure to, the respective ~ heirs, executors, administrators, successors, and assigns o[ the parties hereto. Whenever used, the singular aum- ~ ber sha!I ~nclude the plural, the plusal the singular, and the use of any gender shall include all genders. ~ ~ i ~ ~ ~ ; s ~ ` ~ ~ ~ ~ ~ ~ °R192 1888 ~ aoo~ ~ ~ - _ = ~ _ . ~ _ . - _ _ _.~.~~r;