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Home My WebLink About2693 . ~ ! ~j 4 t' ,j~t~~ ~~Y~ ~ S. That he will petmit. commit. or su[fer no waste. impaicmeat, oc deterioration of said property o~ any pa~t thereof; and i~ the eve~t of the feilu~e of the mortgagoc to keep the buildings on said premises at~d ~ose tobe e~ected on said premises, or imp~oveme~ts theteon. in good cepeir, the mortgagee may make such [epei s es i~ its discretion it may deem necessocy Eor the p~ope~ preservation thereot. end the full amount of each and every such payment shall be immediately due and payable, and shall be secured by the lien oi this mortgage. 6. That he witl pey all and si~gular the costs, charges. e~d expenses. including reasoneble lawye~'s Eees. and costs of abstrects of title, incurred a paid at eny time by the mortgagee because of the failuce o~ the pert of the mortgagor promptly and [ully to perEorm the agreements end covene~ta of said'ptomissory note end thia mott- gage. and said costs, cha~ges, and expenses shail be immediately due and peyeble and shall be secured by the lien of this mortgege. That he will keep the improveme~ts ~ow existing or hereefter encted on the moKgaged Qcopeny. insured as may be cequiced from time to time by the mortgagee egai~st loss by fire and othe~ hasards. casualties. and co~tin- gencies in such amounts and for such periods es may be required by mortgagee~ and witl pay promptly. when due. any premiums on such i~surance for payment o[ which provisio~ has not been made heceinbefore. All insurance shall be carried in companies approved by snortgagee and the policies aod cenewels lhereof shall be held by mart- gagee and have attached thereto loss payable clauses in favo~ oE and in form acceptable to the mortgagee. ln event of toss he will give immediate notice by mail to moctgagee. and moctgagee may make p~oof of loss if not made promptly by moctgagor. and each insurance compeny concerned is hereby authorized and directed to make payment for such loss directly to moKgagee instead of to mortgaga and moNgogec jointly, and the i~surance pro- ceeds. o~ any part thereoE. may be applied by mortgagee at its option either to the reduction of the indeMedness heceby secured or to the restoration or repair o( the property dem~ged. In event of foreclosure of this moctgage or other transEer af title to the mortgaged property in extinguishment of the indebtcdness secured he:eby. al! right. title, aod intecest of the mortgaga in and to any insurance policirs then in force shell pess to the purchaser or ' grantee. 8. That the matgagee may. at a~y time pending a suit upo~ this moctgage. apply to the court having jutisdic- tion thereaf for the appointment of a receiver, and such court shall Eorthwith appoint a receiver oi the premises cove~ed heceby all and singular~ includiag all and singular the income. profits. issues, and reveaues from whatever source derived, each and every of which. it being expressly understood. is hereby mortgaged as iE specifically set Eorth and described in the granting and habendum clauses hereof. and such receiver shal! have atl the broed and effective functions and powers ie anywise entcusted by a court to a receiver. and such eppointment shall be made by such conrt es an admitted equity and a matter o[ absolute right to said mortgagee, and without reference ~o the adequacy or inadequacy of the value of the pcoperty mortgaged or to the solvency or insolvency of seid mortgagor or the defendents, and tl~at such rents. profits. income, issues. and revenues shell be applied by suc6 receivec according to the lien of this moctgage and the prectice of such court. In the event of any detault on the pert of the mortgagor hereunder, the mortgagoc agrees to pay to the mortgagee on demand as a reasonable monthly rental Eor the premises an amount at least eqpivalent to one-twelfth (1/12) of the aggregate of the twelve monthly install- 1 ments payable in the ,Rh,ep curre~t year plus the actual amount of the annual texes. assessments, weter rates. and t insurance premiums for such yeai;not'coeered by the aforeseid monthly peyments. 9. That (01 in the event o[ any breACh'o[ this mortgage or default on the ped of the modgagor, or (6) in the event that any of said sums of money her~ia.teferred to be not promptly and fully peid without demand or notice. or ~ in the eveat that each and every tfie st'ipulations, agreements. conditions, and covenants of said note and ~ this mortgage, are not duly~ promptly; and [ully performed; then in either or any such event, the said aggregate ; sum mentioned in said note then remaining unpaid, aith intecest accrued to that time, and atl moneys secured ~ hereby, shell become due and peyable forthwith. a thereafter. at the option of said moctgagee, as fully and com- ~ pletely as if all of the said sums of money ~vere ociginally stipulated to be peid on such day. anything in said . t note or in this mortgage to the contrary notwithstanding; and theceupon a thereafter. at the option af said matga- t ~ gee, without notice or dema4d~ sp~ tt ~4w or in equity. may be pcosecuted as if all moneys secured hereby had ! 'i matured prior to its institution. The mortgegee may foreclose this moctgage. as to t6e amount so declared due and ~ payable, and the seid premises shall be sold to satisfy and pey the same together with costs, expenses.and allow- j ances. In case of partial foreclosure of tbis mortgage, the mortgaged premises shall be soW subject to the con- i tiauing lien of this mortgage foc the aawunt of the debt not then due and unpaid. Ia such case the provisions of this peragraph mey again be avaited of thereafter from time to time by the matgagee. 10. That the moctgagor will give immediate notice by mail to the mortgagee of any conveyance, transfer, a change of ownership of the premises. ~ 11. That no waiver of any covenant hecein or oE the obligation secuced hereby shell at any time thereafter be held to be a waiver of the terms hereaf or of the note secuced hereby. ; 12. That if the matgagor default in any of the covenants or agreements coptained herein. or in said cwte, then ~ the mortgegee may perform the samg, and all expenditutes (including reasonable attocney's fees) made by the ~ mortgagee in so doiag shall draNr interest at the rate set fath ia the ~ote secured hereby, and shall be rep~yable j immediately and without demand by the matgagor to the mortgagee, and, together with inte~est and costs accruing ~ thereon, shall be secured by this mortgege. ~ 13. that the meiling of a written notice a demand addressed to the wvner of ~ecord of the mortgaged pcemises. or directed to the seid o~vner at the last address actually furnished to tha moctgagee. or directed to seid owner et ~ said modgaged premises, and mailed by the United Stetes maits, shall be sufficient notice and demand in any ~ ~ ~ case arising under this insttwnent aad required by the provisions hereoE or by taw. ~ ~ 14. The mortgagoc further covenants that should this matgage and the note secured heceby not be eligible 't foc insuraace under the Natiaw! Housiag Act within ~ nA.•c ftom the dnte heteof (writtea statement ~ ` of any officer of the .Depectment of Housing and Urban DeveTip~oent or authorized agent af the Secretacy oE Hous- ~ ing and Urban Dgvelopment dated subsequent to~ tbe $Q QjH'(S time Erom the dote of this mod~,age, ~ declining to ins~ue said note and this mortgage, being deem~d conclusive prooE af surh ineligibility), the mortga- ; - gee oc the holder d tbe note may. at its option, declact ell sums secured hereby immediately due and poyoble. ! ~ The coven~nts herein contained shall bind, and the benefits a~d advanteges shall inure to, the tespective ~ heirs, executors, administrators, successas, and essigns af the partiea hereto. Whenever used. the singular num- s ~ ber shall include the plural, the plural the singular, and the use of any gender shall include all genders. ? ~ ~ ~ ~ ~ ~ ~ ~ °R192 2687 ~ ~ 600K ~ ~ ~ ~ ~ ~ ~ ~ r . - . . _ - _ f~