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Home My WebLink About1911 4. That he will pay atl taxes, ussessments, wa/er rates, and uther go~~ernmental or munici~l cha~geti, fine~, or impositio~s, for which p~ov~sion has not been made heceinbefore, and in default thereof the mortgagee may puy the same: and tliat he wi:l promptly delivec the otficia! receipts thecetor to tne moctgagee. S. That he will permit, commit, ot suftec no veaste, impF?i~ment, o~ deterioration ot said prope~ty or any pa~t thereof: and in the event of the [ailure of the mortgagor to keep the buildings on said premises at?d thc~se tobe ecected on caid premises, o~ improvements thereon, in goad ~epair, the mo~igagee may make such repairs as in its disc~etiu~ ~t may deem necessary (or the pcopet presecvat~on tne~eoi, and ttie full amount o( each and every such papment sh~ll be immediately due and pa~~able, and shall be secuced by the tie~ o[ this murtgage. fi. That he will pa~ all and singular the costs, cha~ges, and expenses, includ~ng reasonable lawye~'s fees, and coats ot abstcacts of title, incucred or paid at any time bythe mortgagee because of the failu~e on the part o[ the mortgagor promptly and (ully to pecform the agreements and covenants af said ~+romissory note and this mort- g:ige, :ind ~aid costs, charges, and expenses sFall be immedi~+tely due and payable and shall be secured by the l~en of this mortgage. i. That he Kill keep the improvements now existing o~ herea[ter e:ected on the modgaged property, insured as may be required from time to time b~• the mort~agee against los~ by fi~e and other h~:zacds, casualti~s, and contin- gencies in such amounts and for such periods as may be required by mwtgagee, and wiU pay promptly, when due, .~n}• premiums un such insurance for payment of which pror~s~on has not been made he~einbefo~e. All insu~ance shall be carried in companies app~o~•ed by mo~tgagee and the policies and renewafs thereof shall be held by mort- g.~~ec and h~,~•e attached thereto loss payable clauses in favor of and in form acceptable to the mortgagee. In r~•ent of loss he wiU gi~•e immediate notace by mail to mortgagec~, and mortgagee may make proof of loss i( not made promptly by mortgagor, and each insurance company concerned is hereby authorized and d~rerted to rt~ake ~~•meat for ~uch loss directly to moctgagee i~stead of to mortgagor and mortgager jointly, and the insurance pro- ceeds, o~ am• part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness hereb~ secured or to the restorstion or repair of the pt~perty damaged. In e~•ent oI (oreclosure of this mortgage or other transfer of title to ihe mortgaged property in extinguishment ot the indebtedness secured hereby, all right. - t~tle, and interest of the mortgagor in and to an~• insurance policies then in force shall pass to the purchaser or grantee. 8. That the mortgagee ma~, at any time pending a suit upon this mottgage, apply to the court having jurisdic- t~on thereof for the appointment oE a recei~•er, and such court shall forthwith appoi~t a ceceive~ of the premises co~•ered hereb~• all and singular, including all and singular the income, profits, issues, and revenues from whatever source deri~•ed. each and every of which. it being expressly undecstood, is hereby mortgaged as if specitically set forth end descriEied in the granting and habendum cla~ses hereof, and such receive~ shail ha~•e all the broad and effecti~•e functions and powe~s in anywise entrusted by a court to a receiver, and such appointment shall be made b~• ~uch court as an admitted equity and a matter of absolute right to said mo~tgagee, and without reEerence to the ;~dequac~• ac ~nadequacy of the ~•alue of the propecty mortgaged or to the sol~•ency w incolvency of said mortgagor or the defendents, and that such rents, pro[its, income, issues, and revenues shall be applied by such receiver according to ihe lien of this mortgage and the practice of such court_ In 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 premises an amount at least equivatent to one-twelfth (1'12) of the aggregate of the twelve monthly install- ments payable in the then current year plus the actuat amount of the annual taxe~, assessments, water rates, and ~n~urance premiums for such year ~ot covered by the afotesaid monthly payments. 9. That r in the e~•ent of any breach ot this mortgage or default on the part of !he mortgagor, or ~b1 in the e~•ent that an~• of said sums of money herein referred to be not promptiy and fully paid without demand or notice, or in the e~•ent that each and every the stipulations, agreements, conditions. and covenants of said note and this mortgage, are not duty, promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned ~n said note then remaining unpaid, w ith interest accrued to that time, and all moneys secured hereb~•, shall become due and payable forthwith, or thereafter, at the option of said mortgagee, as fully and com- f pletely as if all of the said sums of money were otiginally stipulated to be paid on such day, anything in said j note a in this mortgage to the contrar~ n: iwithstand~ng; and thereupon or thereafter, at the option of said mo~tga- I gee, without notice or demand, suit ~t t•~w ,r in equity, ma} be prosecuted as if all moneys secured hereby had ' matured prior to its institution. The mo:-t~a~~e ma~~ foreclose this mortgage, as to the amount so declared due and ~ pa~•able, and the said premises shalt be sold to satisfy and pa~• the same together with costs, expenses.and allow- i ances. In case of partial foreclosure oi this mortgage, the mort~aged premises shall be sold subject to the con- ~ tinuing lien of th~s ~ortgage for the amount of the debt not then due and unpaid_ In such case the pro~•is~ons of ~ this paragraph ma~- again be a~•ailed of therea(ter trom time to time by the mortgagee. ~ ~ 10. That the mortgagor will gi~•e immediate notice by mail to the mortgagee^of any com•eyance, transfer, or • change of ownersh:p of the premises. ~ 11 . That no v?aiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be ~ held to be a vea~~•er of the terms hereo[ or of the note secured hereby. ~ 12. That if thQ mortgagor default ~n anv of the co~-enants or agreemrnts contained herein, or in said note, then _ ~ the mortgagee ma}• perform the same, and all expenditures (includ~ng reasonable att«ney's fees) made b~• the mortgagee in so doing shall draw interest at the rate set forth in the note secured hereby, and shail be repayable ~ immediatel}• and vuithout demand b~• the mortgagor to the mortgagee. and. together with interest and costs aceruing thereon, sha!1 be secured by th~s mortgage. ~ 13. that the ma~ling of a wc~tten notice or demandaddressed to the owner oE record of the mortgaged premises. ~ or d~rected to the sa~d owner at the last address actually furn~shed to the modgagee, or duected to said owner at ~ sa~d mortgaged premises, and rnailed by the United States mails, shall be suftic~ent notice and demand in any case aris~ng under th~s ~nstrument and required b~• the pro~~isions hereof or b}• lau:. ~ ly_ The moctg~gor further covenants that shauld this mortgage and the note secured herebi not be eligible ~ for insurance under the National Housing Act v?ith~n ~~Y5 fcom the date hereof (written statement ~ of an~• o[ficer of the Department of Nousing and Urbari Development or authc~rized agent of the Secretary of Nous- ing and U~ban De~•elopment dated subsequent to the ~ p/~Y~ time from the date of this mortgage. ;3j deciining to insure said nate and th~s mortgage, heing deem•~d conclusive proof ot such ineligibitity), the mortga- gee or the holder of the note may, at its option, declare all sums secured hereby immediately due and payeble. ~ The covenants heresn contained shall b~nd, and the benefits and advantages shall ~nure to, the respective ~ he~rs, executors, administrators, successors, and assigns of the parties hereto_ Whenever used, the singular num- ber shall include the plural. the plural the s~ngutar, and the use of an~ gender shall include aU genders. ~ ~ F.-+ s:l ~ a': ~ ~ ao~~i94 1910 ~ ~ . ~ - ~ _ - :~~~._..e . _ , _ . _ - - : _ J_- ~