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Home My WebLink About1517 ~ i 4. That he ~ili pay all taxes, assessments, water tetes, and other governmentul or municipal charges, fiaes, oc impositions, fo~ which pco•rision h;+s not been made he~inb~fore, and in detault thereof the mortgagee may pay the same; and that he will promptly delive~ the official ~eceipts the~eto~ to the muttgagee. S. That he will pe~mit, cummit, or sut[e~ no waste. impairme~t, or detecioration o[ said proprrty or a~y pa~t thereot; and in the event of the failure of the mortgagor to keep the buildings on said premises an~ those tobe erected oo said premises, oc improvements theteon, i~ gocxf reµ.ir, the mottgagee may make such ~epairs as in its discretion it may deem necessary fot the pcoper p~eservation thereo[, and the full amount of each and eve~y such payment shall be immediate!}• due and pa~~able, and shall be secured by the lien of this mortgage. G That he wiU pay all a~d singular the costs, charges, and expenses, including reasonable lawye~'s fees, and costs of abstracts of title, i~cu:ced or paid at any time bythe mottgagee because o( the fa~lure on the part of the moctgagot ptomptiy and fully to perfocm the ag~eements and co~~enants of said promissory note and this mort- gage, and said costs, chatges, and expenses shall be immediately due and payable aad shal{ be secured by the lien o( this mortgage. 7. That he will keep the imp~o~~ements now existing or hereaftec e~ected on the modgaged proQe~ty, insured as may be required from tin:e to time b~• the mortgagee against los~ by fire and othet hazards, casualties, and contin- gencies in such amounts and foc such periods as may be required by murtgagee, and will pay promptly, when due, an~ premiums on such insucance for paynient of which pro~•icion has not been made he~einbefuce. All insurance shall be carried ~r. c~mpanies appcoved by mortgagee a~d the policies and renewals theceof shall be held by mort- gagee and ha~•e attached thereto loss payable clauses in favor of and in [or~ acceptable to the mottgagee. In e~•ent of l~~ss he wi{1 give immediate notice by mail to mortgagee, and mortga~ee may make proof o( loss i( nat made promptly by mortgagor, and each insurance cumpany coxerned :s hereby authorized and directed to make pa~•ment for such loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance pro- ceeds, or any part theceof, may be applied by moctgagee at its option either to the ~eduction of the indebtedness he~eby secured or to the restoration or repair of the property damaged. ln event of foreclosure of this martgage o~ uther transter u[ ti!le to the mortgaged property in ext~nguishment ot the indebtedness secured hereby, all right, title, and intere~t of the mortgagor in and to an}• insurance pol~cies then in [occe shall pass to the purchaser or grantee. R. That the mortgagee may, a: any time pendi~g a suit upon this mortgage, apply to the court having jurisdic- tion thereof foc the appointment oE a ceceiver, and such court shall forthwith appoint a receiver of the prem~ses co~•ered hereby ali and singular, includ~ng all aad singular the ~ncome. protits, issues, and revenues from whatever- ~~urce de~ieed. each and every of w6ich, it being expressly understood, is hereby mortgaged as if specifically set forth e~nd described in the granting and habendum clauses hereof, and such receiver shall have all the broad and effecti~e functions a~?d pouers in an~•w ise entrusted by a court to a recei~•er, and such appointment shall be made b~• such caurt a~ an admitted equity and a matter of ab~olute right to said mortgagee, and without reference to the adequac~• or inadequacy oE the ~•alue of the property mortgaged or to the sol~•ency or insolvency of said mortgagor or the defendents, and that such rents, profits, income, issues, and re~~enues shall be app?ied b}• such recei~er arcarding to the lien of this mortgage and the practice of such court_ In the e~ent of any default on the part of the mortgagor hereunde:, the mortgagot agrees to pay to the mortgagee on demand as a reasonable monthiy rental [or the premises an amount at least equ~~~alent to one-twelfth (1'12) of the aggregate of the twel~e mcx~thlyinstall- ments pa}•able ~n the then current year plus the actual amount ot the annual taxes, assessments, water rates, artd insurance prem~ums for such year not co~~ered by the aforesaid monthly payments. 9. That r„ i in the event of any breach of this mortgage or defautt on the part of the mortgagor, or /bi in the e~•ent that any of said sums of money herein referred to be not promptiy and fultp paid without demand or notice. ~ ~ or ~ in the e~•ent that each and every the stiaulations, agreements, conditions. and covenants of said note and ~ this ,mortgaKe, are not dul~•, ~tamptly, and futly performed; then in either or an}• such e~ent, the said aggregate sum ment~oned in taid note then remaining unpaid, veith interest accrued fo that time, and all moneys secured hereb}-, shall become due and pa}•able forthwith, or thereafter, at the option of sa~d mortgagee, as [ufly and com- pleteiy as if all of the said sums of mone~• were or?ginally stipulate.: to be paid on such day, anything in said ~ note or in this mortgage to the contrary notwithstanding; and the~eupon or thereafter, at the option of said mortga- ; gee, w ithout notice or demand, suit at IaK or in equity, ma}~ be prosecuted as if all moneys secured hereby had ~ matured prior to its institution. The mortgagee may foreclose this mortgage, as to the amount so declared due and ~ pa}-able, and the said premises shall be solci to satisf~~ a~ pay the same together with costs, e~penses.and allow- ances. ln case of part~al foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con- ~ Unuing lien of th~s mortgage for the amount of the debt not then due and unpa~d. ln such case the provisions of ~ this paragraph ma~~ again be a~•ailed of thereafter irom time to time by the mortgagee _ . 10. That the mortgagor w ill give ~mmed~ate notice by mait to the mortgagee of an~~ com•eyance, transfer, w change of ovvnership of the premises. 11. That no Wai~~er of an}• covenant herein or of the ubl~gat~on secured hereby shalt at anv t~me thereatter be ~ held to be a w~ai~•er of the terms hereoF or o( th~ note secured hereby. . 12. That if the mortgagor default ~n any of the covenants or agreements contained here~n, or in ~a~d note, then the mcrtgagee ma~• perEorm the same, and all expend~tures (including reasonable attorney's tresl madc b~• the ~ mortgagee in so ~oing ~hall draw• interest at the rate set forth in the note secured hereb~~, and shall be repayabte immed~atel}• and u•dhout demand b}• the mortgagot to the rr.or:gagee. and, !ogethec vrith interest ar.d costs accru:ng ~ thereon, shal! be secured by this mortgage. ~ 13. that the mailing of a wr~tten notice or demandaddressed to the owner of record of the mortgaged premises. ~ ur di~ted to the said ov?ner at the last address actually furnished to the mortgagee. or d~rected to sa~d owner at ~ said mortgaged prenises, and ma~led bc the United States mails, shall be su[ficient notice and demand ~n any rase aris~ng under this instrument and requ~red by the pro~-isio~is herFOf or b}~ law. ~ 14. The mottgagor further covenants that snould this mortgage and ihe note securcd hereb}~ not be eleg~ble ~ for ~nsurance under the National Housing Act w~thin ,i(~ (~Y, from the date hereof (written statement ~ oi anp oificer of the Department of Hous~ng and Urban Development or authorized agent oE the Secretary of Hous- ~ ~r.a and Urban Development dated subsequent to the 3Q ~Y.z time from the date of thi~ ~~,.,~.~ugC, ~ declin~n to tnsure said note and this mort a e, bein deem~>d conclus~~•e roof o! such inel~ tbil~t the mort a- K B" 8 g P g 5) B ~ gee or the ho:der o( the note may, at its option, declare all sums secured hereby immed~atelp due and payeble. ~ The cocenants herein contained shall bind, and the benefits and advantages shalt inure to, the respective ~ heirs, executo~, adm~n~strators, successors, and assigns ot the parties heret~. Whene~~er used, the singular num- ~ ber shal! incl~~de the ptural, the plurai the s~ngular, and the use of any gendec shall ~nclude all genders. ~ ~ ~ ~ ~ ~ _ ~.1~4 1516 ~ a.i "4~ ~ _ _ . _ _ _ _ ~ _ _ . rFi-r ~ _ . - . . . fl