The URL can be used to link to this page

Home My WebLink About2063 i S. That hP witl ~xrmit, cummit, ot su((ec na waste, im~irment, o~ detetioration of said p~opetly ot any pa~l j thereo(; Nnd in the evcnt of the t~ilure ot the mo~tgagor to kcep the buildings on said premises and those tobe ! erc~cted on said prem~ses, o~ impro~•~ ments theceun, in ~ooct ~epai~, the mottgagee may meke such repeirs as in its ~ disrretion it tr.ay dcem nccrssary for the proper preservation theseaf, and the tult am~~nt zrf each and every such payme~t shall be immcdiately dutr end pa~~able, and shall be secured by the lien ot this mortgage. ~ 6. Th:~t he will puy all and singuler the costs, charges, end expenses, including tc~asonable lawyer's tees. ~ and costs uf abst~erts at title, incurred or paid al any time bythe mortgagee.beceuse of lhe (ailure on the part of the mo~tgagur promptly and fully to pertocm the egreements and covenents of said p~omissory note and this mort- gage, and said costs, ctu~rges, and expenses shall be immediately due and pc+yAble and shall be secured by the lien of this mo~tgage. 7. That he will keep the improvements now existing oc hereaftet erected on the mo~tgpged property. insuted as t mey be ~equired trom time to time b~~ the mortgegee against loss by (ire and othe~ hazards, casualties. and contin- ~ gencies in such amounts and fo~ such periods as may be required by mortgagee, and witl pay promptly, when due. any premiums on such insurance !or payment of which p~ovision has not been made hereinbefore. All insurance ~ ~~iall be car~ied in companies approvc~d by mortgagee and the policies end renewals thereof shall be held by mort- gagee and have attached thereto lots payable clause~ in favor o[ and in form acceptable to the mortgagee. ln e~•ent o( loss he will gi~~e immediate notice by mail to mortgagee, and moctgagee may make prooi of loss if not made promptl~~ by mortgagor, and each insurance company concerned is hereby autharized end directed to make puyment tcx such loss dicectly to mortgagee instead ot to matgagor and mortgagee jointly. and the insurance pco- ceeds, or any pa~t thereof, may be epptied by mortgagee at its option either to the reduction of the indebtedness i hereby secured ar to the restoration oc repair of the p~operty damaged. In event of toreclosure of this mortgage w othe~ transfer of title to the mortgeged psoperty in extinguishment of the indebtedness secured hereby, all right. title, a~d intere~t of the mortgagor in end to any insurance policies then in torce shail pass to the purchaser or Rrantee. 8. That the mortgagee may, at any time pending a suit upon this mortgage, apply to the court having jurisdic- tion thereof for the appointment of a recei~rer, and such coun shall forthwith appoint a receiver o[ the premises covered he~eb} all end singulec, including all and si~gular the income, profits, issues. end revenues from whatever suurce derived, each and eve~y of which, it being expressly understood, is hereby morlgaged as if specifically set torth and desc~ibed in the granting and habendum clauses hereof, end such receiver shatl have all the bcoed end effecti~•e functions and powers in anywise entrusted by a court to a rezeiver, and such appolntment sholl be made b~• such court as an admitted equity and a matter of absolute right to said mortgagee, and without reference to the adequacy or inadequacy of the value of the property mortgaged or to the solvency or i~solvency of ~aid mort~agor or the defendents, and thet such cents, prafits, income, issues, end cevenues shall be applied by suCh receiver according to the lien of this mortgege end the practice o[ such coud. ln the event of any defeult on the pad of the mortgagor hereunder, the matgagor agrees to pay to the mortgagee on demand as a reasonable monthly tental for the premises an amount at least eqpivalent to one-twelfth (1/12) of the aggregate of the twelve monthly instell- ments payable in the then current year plus the actual amount of the annual taxes, assessments, weter rates. and ~nsurance premiums for such year not covered by the aforeseid monthly payments_ 9. That ~ in the event of any breach of this mortgege or default on the part of the mortgagor. or (61 in the i e~•ent that an~~ of said sums of money herein referred to be not promptly and fully paid without demand or notice. or !s• t 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 hereby, shall become due and payable forthwith, or thereafte~, at the option of said mottgagee, as fully and com- pletely as if all of the ssid sums of money were originally stiPulated to be paid on such day, anything in said note or. in this modgage to the contrary notwithstanding; and thereupon w thereafter, at the option of said martga- gee, without notice or demand. suit at law or in equity. mey be ptosecuted as if ali moneys secured hereby had l matured prior to its institution. The mortgagee may foreclose this mortgage. as to the amount so declared due and ' payable, and the said premises shall be sold to satisfy and pey the same together with costs, expenses,and allow- i ances. In case of partial foreclosure of this mortgage, the mortgaged premises shell 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 " ~ this paragraph may again be availed of thereafter from time to time by the mortgegee. ~ ~ l0_ That the mortgagw witl give immediate notice by mail to the mortgagee of any conveyance, transfer, a ~ change o[ ownership of the premises. . 11. That no waiver of any covenent herein or of the obligation secured hereby shall at any time thereafter be ~ held to be a waiver of the ter~r.s hereof or of the note secured hereby. ~ 12. That if the mortgaga default in any of the covenants or agreements contained herein, or in said note, then the mortgagee may pedorm the same, and all expenditu~es (including reasonable attorney's fees) made by the ~ mortgagee in so doing shall draw interest at the rate set forth in the note secured hereby, and shall be repayable immediately and without demand by the modgagor to the modgagee, and, together with interest and costs accruing ~ thereon, shall be secured by this mortgage. 13. that the mailing of a written notice a demandaddressed to the owner of record of the mortgaged premises. or directed to the said uwner at the last address actually furnished to the mortgagee. or directed to said owner at said mortgaged premises, and mailed by the United States mails, shall be sufficient notice and demand in any ' ~ case arising under this instrument and required by the provisions hereof or by law. ~ 14. The mortgagor [urther covenants that should this mortgage and the note secured hereby not be eligible for insurance under the Natianal Housing Act within 30 ~Y$ from the date hereof (aritten statement of ar.y officer of the Depa~tment of Housing and Urban Develo ment or author'ued agent of tfie Secretary of Hous- ing and Urban Development dated subsequent to~ the 30 pDAYS time from the date of this moctgage. declining to insure said note and this mortgage, being deemed conclusive proof of such ineligibilityj, the mortga- ~ gee oc the holder oE the note may, at its option, declare all sums secured hereby immediately due and payeble. ~ The covenants herein contained shall bind, and the benefits and advantages shall inure to, the res,~ective ~ heirs, executors, administrators, successors, and assigns;_ the parties hereto. Whenever used, the singular num- ~ ber shall include the plural, the plural the singular, and th~use of any gender shall include all genders. ~ ~ ~ ' ~ . ~ ~ aoo~ 192 2U59 . _ ~ ~ yr ~ . _ '.t..~~"'"t"._ a...;'4"s,.~ ~"Fz~. k; ,r-~ . _ ~F'~~ t.^ . . _ . ~ _