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Home My WebLink About0438 S. That he will pe[mit, commit, or snffer no waste, impaicment, cx detrciocation ot sai3 pcopetty or eny part t'~ereof; and in Ihe event of the failure of the mortgagc,~ to keep th~ buildiag~ on said pc~mises and those tobe ~•rected o~ said p~emi.es, o~ imp?ovements the~ea?, in goed repair, the mo~tRageP may make such repuirs as in its d:scielion it may deem nccessary tor the proper preser~ation the~ed, end the tull amount ot each and every such payme~t shall be immediatety duc and payable, ac~d shall be secured by Ihe lien of tAis mortgage- 6 That he wi~l pay all and singular the coFts, charges, and exQenses, including ceasonabte lewyer's tees. and costs of ~bst:acts of title, iacy?red a paid at any time bythe mortgagee.because ot the taiturt on the pH~t of t:ie mortgagor promptty and fully to pe~Eam Ihe agreea~eats ana coveaants of said promisso~y note and this rr.ort- ~age, and said costs, charges, and expenses shall be imrocdiately due ~nd payeble and shall De secu~ed bv the ;~en of th:s mortgage. 7. Thet he will keep the irt:provements novr existing ot herea(tet etected on the moRgeged pcopetty. insu~ed a~ may be ~equired from time to time by the mortgogee against loss by Eire and othec hazards. casualties, ~nd coMu~ g~ncies in snch amounts and fo~ such peciods as may be ~equired by moctgagee, and wiil pay p~omptly, when due, any preniuaLS oi such insurance foc payment oE which psav~sion h~s not been made hereinbetore. Al1 insurance shall be carried in companies appro~ed by maatgagee ertd the policies ~nd renewals thereof shall be held by moct- gagee and h.~ve attached therelo loss payable clauses i~ fevor of and in form acceptable to the mongagee_ In e~ent of Ioss 6e wi11 g~~~e im:nediate ~otice by mail to mortgagee, and mwtga~ee mey make p~oof of loss i[ ~ot mede Qmmptl~ by mortgagoc, and each istisusaa.-.e company concemed is hereby autfio~ized end d'uected to makP paymtnt f~x cuch loss directly to mortgagee instead of to tnattgaga an3 matgagte jointty, and the ins~rencr pro- ceeds, or any part theteof. may be applied b~ mottgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration ot ~epa:r of the pcoperty demaged. In event oE foreclosure af this mortgage or othe< <ransfec of titie to the ~~rtgaged property in exlinguishment of the indebledness secuted hereby. a11 ~ight. title, ar:d ~nterest of the mortgagot in and to any insucance policies t~e~ in force shall pess to the pvrchaser ot grantee. 8. That !he rnortgagee ma~•, at any time pending a suit upon this mortgage. apply to the court having jurisdic- tion thereo( fot the appointment of a re~eiver, and such court shail focthwith appoint e receiver of the premises covered he~eby att and singulac, including a11 and siogular the income, p~otits, issues, and revenues Erom whateve~ source derived, esch and every of which, it being expressly understood, is hereby mortgaged as if sQecifically set Eorth and d~scribed iR the granting and habendum ctauses hrceof, and such re~~iver shall have all ihe broad anu effecti~•e functi.>ns and powers en anywise entrusted by a court to a receiver, and such appainte~ent shall be rrtade by such court as an admitted equity and e matter of absolute right to said mortgagee, and without rcierence to the adequact- or inadequacy ot the valuP ot the ~roperty mortgaged or to the sol~-ency or insolvency oE said morlgago~ o: tF:e defen3ents, and that such rents, pcofits, income, issues, and revenoes shell be applied by such receive~ accordir.g to the lien of tl~is r,;origage and the ptactice of such court. ,ln the event of any defauit on the part of the croRgagor heseunder, the mortgagoc agrees to pay to the mortgagee on demand as e reasonable monthly rental for the premices an amount at least equivalent to one-twelfth (1/12} of the aggregate of the tweive monthly insta!i- ments paya~le in the :hen current year plus the actual amo..nt of the annual taxes, assessments, water rates, and ~nsurartce premiums fo: such year not covered by the aforesaid monthly payments. 9. That t~, i in the event of any breach oE lhis mortgage ar default oo the part of Ihe mortgagor, or /b) in the event thai ang ot ~aid sums ot money herein ret~=~ed to be not promptly and fully paid without demand or notice. I or :'c ~ in the e~ent that each and e~ery the stiputations. agreements, condttions. and covenants ot said note and ;his mortgage, are not duly, promptly, and fully Qecformed; then in either or any sucb event, the said aggregate I sum mentioned in said note then remaining unpaid, with interest accrued to that time. and all moneys secwed ~ here~y, shall become due and payable fotthwith, a thereafter, at the option of said mortgag~. as f:t:ly azd c~n:- ~ pletely as if all of the sa~d sums of monep wece originally stipulated to he paid on such da~~, anyt!?ing in said { note ~x in this morigagle to the ronsrar~• no~withstanding; and thereupon or theceafter, at the option of said mortga- ~ gee, wilhout not~ce or demand, suit at taw ot in equity, may be prasecuted as if ell moneys secured hereby had ~ ~aaiured prios to its institution. The mortgagee may foreclose this mortgage, as to the amount so declated due and ` peya~le, and the said premises shali be sold to satisf~ and FaS the same together with costs, expenses,and ai2ov?- 4 ances. In case of partial (oreclosure of this mortgsge, the mortgaged premises shefl be sold subject to the con j tinuing tien o.' this murtgage fa the amount of the debt not then due and unpaid. In such case *he pravisions of ~ !his Qaragraph :nay again br a~ailed of thereafter from time to tiuie Dy the nortgagee. ' 10- That the mortgagar will give ima:ediate notice by mai! to tFe mortgagee uf anv conveyence, transFer. or ~ change ot o+r~ership of the premises. lI . That no wai~•er of aay covenant herein or of the obligation secured heteby shall at any time thereafter be held to be a waiver of the terms hereof or of the note secured hereby. 12. That if the morigagor default in any of the covenants or agreements conta~ned hetein, or in said note, then :he mortgagee may perfJrm the same, and al! expendituYes (including reasonable attorney's fees) made by the mortgagee in so doing shall draw interest at the rate set forth in the note secured heteby. and shetl be rcpayable ima~ediatety and without demand by the mortgagor to the mortgagee, and. togerhec with interest e~ costs acctuing t;:ereon. s~a11 be secrred by thts mottgage. ~ 13. that the mailing of a written notice a demandaddressed to the oaner of rrcord of the mortgaged premises. ~ or directed to the said owner at the last addcess actuaily futnished to the mortgagee, ot directed to said owner at ~ said mortRap,ed pcemises, and mailed 6y the United S!ates mails, shall be sufficient notice and demand in eny ~ ca-e arising under this instrurtent and required by the provisions hereof or by law. = 14_ Thz mortgagor further coven~nts that should t:~is mort e end the note src:ured hereby not be eligiblP f.x insurance under the National Housing Act within ~ Q~~~ from the date heceof (written statement i of any otf:cec ot the Oepadment of Housing and Urban Develapment ot authorized agent of the Sectetary of Hous- ~ ing and Urban Deee:opment dated subsequent to~ the ~ DAYa • ticne Erom the date of tbis mo~tgage. ~ declining to inss:~ said note and this moRgage, being deem•~d conclusive pcoof d such ineligibility), !he mortga- ~ gee a tfie hotder of the note may. at fts optipn, declare eli sums secured hereby immedistely due and pa}eblr. ~ The covensnis herein contained shall bind, end the bereEits and edvanteges shaU inure to, the respectii•e e~ he~rs, executors, odministrators, successocs, and assigns of the pertits heteto. Whenevet used, the singulat num- ~ ber shalt include the plural, the plural the singular, end the use of any gender shall include al! gendecs. ~a ~ ~ ~ ~ ~o~Ki94 ~~8 ~3 Lrn; ~ ~ ~ _ ...°:a. _