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Home My WebLink About2306 . , f ~ ~ ' .t,' . f 5. That he will permit, commit. a sutEer no waste, impairment. o~ deteriaation of said p~ope~ty or any part thereof; and in the event ot the failuce of the mortgagor to keep the buildings on said p~pmises s~nd those tobe etected on said premises. or improvements thereon, ia good repair, the moKgagee may make such repairs as in its discretion it mey deem necessery Eor the proper preservation the~eot. and the tull amount of each and every such payment shall be immediately due and payable, and shall be secured by the lien ~ this mortgage. 6. That he will pey all aad singular the casts, charges, and expeoses, including reasonable lewye~'s Eees, and cosis of abstracts of title, incurred or paid at eny time by the mottgagee .because of the [ailure on the part of the mortgagw promptly and fully to perfam the agreements and cove~ants of saic! 'promissory note end this mort- gage, and said costs, charges, a~d expenses shell be immediately due and payable a~d shall be secuced by the lien ot this mortgage. 7. That he will keep the improvements novrr existi~g or hereafte: °rected on the mortgaged property. insured as may be required from time to time by the matgagee against loss by [ice and other hazards. casualties. and contin- gencies in such emou~ts and for such periods as may be required by mortgagee, end wil! pay promptly. when due. any premiums on such insurance [or payment of which pcovision has not bee~ made hereinbefo~e. Al! insurance shall be carried in companies approved by mwtgagee a~ the policies end renewals thereof shall be held by mort- gagee and have attached thereto loss payable clauses ~n favor of and in focm acceptable to the mortgagee. In e~~ent of loss he will give immediate notice by mail to mortgagee, and motigagee may make proof of loss if not { made promptly by moctgagw, and each insurance company concerned is hereby authocized and directed to make E payment fcx such loss directly to mortgagee instead of to mortgaga and mortgagee jointly, and the insurance pro- ' ceeds, or any part thereof, may be applied by mortgagee et its option either to the reduction of the indebted~ess hereby secured or to the restoration a repair oE the propetty damaged. ln event of foreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishment oi the indebtedness secured hereby. all right, title, and interest of the mortgagor in and to any insutance policies then in force shall pess to the purchaser or gcantee. - 8. That the moctgagee may. at any time pending a suit upon this mortgage, apply to the court having jurisdic- tion thereaf for the appointment c~f a receiver, and such court shall Eorthwith appoint a receivet of the premises covered heceby all and singular. including all end singular the income. profits, issues~ and cevenues from whatever source derived, each and every of which, it being expressly understood, is hereby moKgaged as if specifically set forth and described in the granting and habendum clauses hereof. snd such receiver shall have all the broad and effective functions and powers in anywise entrusted by a court to a receiver. and such appointment shall be made by such court as an admitted equity and a matter of absolute right to seid mortgagee, and without reference to the adequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency of seid moctgagor or the defendents, and that such rents, pcofits. income. issues, and revenues shall be applied by such receiver according to the lien of this modgage and the practice of such court. ln the event of any default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reasonable monthly rental for the pcemises an amount at least eqpivalent to one-twelEth (1/12) of the aggregate of the twelve menthly install- ments payable in the then current year plus the actual amount of the annual taxes, assessments, water rates, and insurance premiums for such year nbt cove«d by the aforesaid monthly payments. 9. That fo) in the event of any breach of~ this mortgage or default on the part of the mottgagor, or (b) in the event that any of said sums of money herein referred to be not promptly and fully paid without demand or notice. or ~c) in the event that each and every the st'ipulations. agreements, conditions, and covenants of said note and this mortgage, are not duly. promptly. and Eully performed; then in either or any such event, the said aggtegate sum mentioned in said note then remaining unpaid, with interest accrued to that time. and all moneys secured hereby, shall became due and payable forthwith, or thereafter, at the option of said matgagee, as fully and com- pletely as if all of the said su~ of:mpn~y were originaliy stipulated to be paid on such day, anything in said i note oc in this modgage to the contraty notw'ithstanding; and thereupon or thereafter, at the option of said mactga- ~ gee, without notice or demand. suit at law or in equity. may be prosecuted as if all moneys secured ~ereby had ' 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 pay the same together with costs~ expenses,and allow- ances. In case of partial foreclosure of this 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 suc6 case the provisions oE ~ this paragraph may again be availed of thereafter from time to time by the mortgagee. € 10. That the mortgagor .will give immediate notice by mail to the mortgagee of any conveyance, transfer, or ~ change of ownership of the premises. ~ ~ 11. That no waiver of any covenant herein or of the obligation secured hereby shall at an~ time thereafter be ~ held to be a waiver of the terms hered or of the note secured hereby. 12. That if the mortgagor default in any of the covenants a agreements contained herein, or in said note. then the modgagee may pedorm the same, and all expenditutes (including reasonable attaney's fees) made by the 3 mortgagee in so doing shall draw interest at the rate set forth in the note secured hereby, end 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 this mortgage. E ~ 13. that the mailing of a written notice or demandaddressed to the owner of recotd of the mortgaged ptemises, ~ or directed to the said owner at the last address actnally furnished to the mortgagee, or directed to said o~vner at = ~ said mortgaged pcemises, and mailed by the United States mails, shall be sufficient notice and dema~d in any ' ~ case arising under this instrument and required by the provisioos hereof or by lew. + ~ 14. The mortgagor further covenants that should this mort a e and the note secured hereby not be eligible ~ ~ for insurance under the Netional Housing Act within ftom the date hereof (aritten statement f ~ of any officer of the Department of Housing and Urban Develop m_ent or authorized agent of the Secretary of Hous- i s ing and Urban Development dated subsequent to~ the ~ W1~ time from the date of this mortgage, ~ declirr~,~le r~~~ .~qe and,~bis mort~a~ibiAing d~q~~ii~clue~ve'.piQ~t':.of sJdKtine~i~l6ili4r~. the mod6a- ~ gee or the holder of the note may. at its option, declare all sums secured hereby immediately due an~.payablg.' ' ~ The covenants herein containec; shall bind, and the benefits and advantages shall inure to, the respective ~ heirs, executars~edministrators, successors, and assigns oE the partiee hereto. Whenever used, the singular num- ~ ber shall include the plural, the plural the singular. and the use of any gender shall include all genders. ~ x ~ ~ ~ ~ ~ ~ 0~ ~ ~ s~ 192 2301 ~ ~ ~ > . . a~k` i ~ - ..:.J~,_ ~.,..a., ~ _ ~ _ _ . _ . = ~