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Home My WebLink About2203 ! ; . ; , - . . ~i ~ ~ ~ i . , i - • 1 t S. That he will pe~mit, commit, ot su(fer no waste. impairment, or detetio~etion of said ptopetty or any pact `t thereof; Nnd in the eve~t ot the tailn~e ot the mo~tgegoc to keep the buildings on said premises and those tobe ! erected on said premisec, or improvements the~eon, in good repeir, the mo~tgagee may make such ~epeits as in its ~ discretion it may deem necessary tor the pcoper prese~vation thereot, and the full emount of each and every such ~ payme~t shall be immediately due ac~d pa~~able, and shall bt secured by the liea ot this moctgage. ~ 6. That he will pey all and singulat the costs. charges. end expenses, including teaso~able lawyer's fees, ~ and cast~ of ebstrects ot title, incucred or paid at a~y time by the mo~tgegee .because oi the [ailure on the pett of the mortgAgor promptly end (ully to pertam the agreements and covenanta of said ~promissory note and this mort- gage, and said costs. charges, end expenses shail be immediately due and peyable end shell be secured by the lien of this mortgage. 7. That he will keep ihe improveme~ts now existing or hereafter erccted on the matgaged ptoperty, insured es may be required tcom time to time by the mortgegee against loss by fire and other hazards. casuelties. and contin- ~ genries in such amounts end (oc such peciods as may be required by mortgagee, end will psy promptly. when due, any premiums on such insu~ance [or payment of which provision has not been made hereinbefore. All insurance ~ shall be carried in companies approved by mortgagee and the policies and ~enewels theceo( shell be held by mat- k gagee a~d have attc~ched thereto loss payeble clauses in [evor of and i~ form accepteble to the mo~tgagee. In ; event o[ loss he will give immediate notice by mail to mortgagee. and mottgagee may make ptoof of loss if not j made promptly by moctgagor. and each insurence company concerned is hereby authorized artd directed to meke ! payment for such loss dieectly to mwtgagee instead of to moctgagor and mortgagee jointly. and the insurance pro- ceeds, or eny part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness ~ hereby scruMd or to the restoration ot repair oi the ptopeny damaged. ln event of foreclosure of this mortgage a other transEer of title to the mortgaged prope~ty in extinguishment o[ the indebtedness secured he~eby. all right, ~ titte, aod interest of the mortgagor in and to any insurance policies then in face shall pess to the purchaser or ~ ~rantee. ~ 8. That the mottgagee may, et any time pending a suit upon this mortgage. apply to the court having jurisdic- ~ tion thereof for the appointment of a rec~eiver, and such court shelt fc~hWith appoint e re~eever of the ~e~!~ses _ covered heceby all and singuler. including all end singular the income. profits, issues~ and cevenues from whatevet source derived, each and every of which, it being expcessly unde~stood. is hereby mortgeged as if specifically set fo~th and described in the grenting and habendum clauses hereof, and such receiver shall have all the broed and effecti~•e (unctions and powe~s in anywise entrusted by a court to a receivet. and such appointment shall be made by such court as en edmitted equity and a matter of absolute right to seid mortgagee, and without reference to the adequecy o~ inadequacy of the value of the propetty mortgaged or to the solvency or insolvency of seid mortgagor or the defendents, and that such rents. profits. income. issues. and revenues shell be applied by such receiver according to the tien of this mortgage and the practice of such caut. ln the event of any default on the part of the mortgagor hereunder. the ma~ctgagor agrees to pey to the mo~tgegee on demand as a reasonable monthly rental for the p~emises an amount at least eqpivalent to one-twelfth (1/12) oE the aggregate of the twelve monthly instell- ments payable in the then current year plus the actual amount of the annual taxes. assessments. water cates. and insurance premiums for such year nd cov~red b~r~the afotesaid monthly payments_ 9. That (01 in the event d any breach vf-this modgage or default on the part of the modg,agor. or (b) in the event that any of said sums of money hereia referred to be not pcomptly and fully paid without demand ot notice. or ? in the event that each and every the st'ipulations. egreements. co~ditions, and covenants of said note and this mortgage, are not duly. Promptly. and fully perEormed; then in either or any such event, the said aggregate sum mentioned in said note then remaining unpaid. with interest eccrued to that time. and all moneys secured hereby, shall become due and payable forthaith. or thereafter. at the option of said matgagee. as Eully and com- pletely as if all of the said sums of money were originally stipnleted to be paid on such day, anything in said note or in this mortgage to the con~t~r~tlv~thstanding; and thereupon or thereafter, at the option of said matga- gee, without notice or demand. suit at lew or in eyuity. may be pra~ecuted as if all moneys secuced hereby had ; matured prior to its institution. The mortgagee mey Eoreclose this mo~tgage. as to the ~mount so declared due and ~ payable, and the said premises shall be sold to satisfy and pey the same together with coats. expenses.and allwiv- ~ ances. In case of pertial foreclosure of this matgage. the matgaged premises shall be sold subject to the con- { tinuing lien of this m~tgage for the amount of the debt not then due and unpaid: In such case the provisions of E this peragraph may again be availed of theteafter from time to time by the mortgagee. ~ 10. That the mortgagoc will give immediate notice by mail to the mortgagee of any conveyance. transfer, a ~ change of ownecship of the premises. ~ 11. That no waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be l ~ held to be a waiver of the terms herea[ or of the note secured hereby. 12. That if the mmtgagor default in any of the covenants a agceements contained herein. oc in said note, then the mortgagee may perfo~m the same, and all expenditutes (including ceasonable attaney's fees) made by the i ~ mortgagee in so doing shall draw interest at the rate set fath in the note secured hereby, end shall be repeyable ; ~ immediately and without demand by the matgagor to the mortgagee, 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, o~ directed to the said awner at the last address actually furnished to the mo~tgagee, w directed to said owner at ~ said mortg,aged premises. and mailed by the United States mails, shall be sufficient notice and demand in eny case atising under this instrument and required by the pcovisions hereof or by law. ~ 14. The mortgagor further covenants that shos~ld this mortgage and the nde secuced hereby not be eligible ~ ~ Eor insurance under the National Housing Act within ~ from the date hereof (wcitten statement ot any officer of the Depertment of Housing and Urban-De~j~meXf or authorized agent of the Secretary of Hous- = ing and Urban Development dated subsequent to~ the ~+~y 4~ ~ time Etom the date of this mortgage. ~ declining to insure said nde and this mortgage. being deemed conc~usive proof of such ineligibility), the mortga- ~ gce or the holder d the note may, at its option, declare all sums secured t~ereby immediately due and peyoble. ~ The covenants herein contained shall bind, and the benefits and edvanta~es shall inure to, the respective ~ heirs, executors, administratars, successars, and assig~s of the perties hereto. Whenever used, the singuler nua?- ~ ber shatl inctude the plural, the plural the singular, and the use of any gender shall include ell genders. ~ ~ ~ ~ ~ ~ ~ a~oK 192 219~ ~ ~ ~ - , ~ s ~ , ~ _ - _ _ ~