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Home My WebLink About2069 . ~ ,~r a. That he will pay all taxes, asses~me~ls, watet rates, and other govecomental or municipel chatges, fines, ~u ~mpositions, for which pra~ision has not been mede he~einbefore, and in default thereof ihe mortgagee may pay the same; and that he wili p~omptly deliver the o(ficial receipts theretor to the mo~tgagee. S. 'fhat he will pe~mit, comm~t. or su[ter no waste, impairment, or deterioration of said property or any part the~eof; and in the eve~t of the failure o( the mo~tgagor to keep the building~ on said premises and those tobe ~ erected on said premises. o~ improvements the~eon, in good repair, the mortgpgee may make such reFairs as in its ; discretiu~ it may deem necessary tot the p~oQet preservation thereof, and the full amount o[ each and eve~y such ' paymcnt shall be ~mmediately due and payable, and shai) be secured by the lien of this mortgage. : 6 That he wi!1 Pay ail and singular the costs, charges, and expenses, including reasooable lawyer's fees, ~ and costs o[ abstcacts of title, incutred ot paid at any time bythe mortgagee because o( the [a~lure on the part of ; the mo~tgagot promptly snd tutly to pe~torm the agrecments and co~•enants of said prom~ssory note and this mort- ~ gage, and said costs, cha~ges, and expences shall be imRediately due and payable and shall be secured by the ~ lie~? ot this mortgage. That he will k~ep the imp~o~•ements now existing or hereafter erected on tF.a mottgaged pcoperty, insured as ~ may be required Ecom time to time by the mo~tgagee against loss by fire and other hazards, casualties, and contin- j gencies in such amounts and for such pzriuds as may be cequired by mortgagee, and will pay promptly, whea due, any premiu:tis on such insurance tor payRent of which provision has not •been made hereinbefore. All insurance . shaii be ca~cic~1 in cumpanies app~~ved by mortgegee end the p.~licies end re~eewais tliereo[ shdll t~ hrid by m~xt- gagee and ha~•e attached thereto loss payable clauses in favor ot and in torm acceptabfe to the mortgagee. In e~•ent o[ loss he v?ill give immediate notice by mail to mortgagee, and moctgagee may make proot of loss if not made promptly by mortgagor, and each in.surance company concecned is hereby autherized and directed to make pa~•ment foc such losc ditectly to mortgagee instead of to moctgagor and mo~tgagee jointly, and the insurance pro- ceeds, or any part thereof. may be applied by moctgagee at its opt~on either to the reduction o( the indebtedness heceby secured o~ to the ~estoration or repair o[ the propecty damaged. In e~~ent of fo:eclosure o[ this mortgage oc uther transfec uf title to lhe mortgaged ptopecty in extinguishment oE the indebtedness secured hereby, all right, title, and interest of the mortgago~ in and to any insu~ance policies then in force shall pass to the purchaser ix grantee. 2i. Thai the mortgagee may, at any time pending a suit upo~ this mortgage, apply to the co~irt having jurisdic- tion thereof for the appointment of a receiver, and such court shall [orthwith appoint a receiver of the premises co~•ered he~eb~ all and singular, including all and singular the income, protits, issues, and revenues (rom whatever source deri~~ed. each a~?d e~~ery of which, it being expressly understood, is hereby mortgaged as if specifically set tocth end described in the granting and habendum clauses hereof, and such receiver shall have all the broad and effect~~•e functions and p~wers in an~•wise e~trusted by a court to a recei~•er, and such appointment shall be made b~ such caurt as an admitted equit} and a matter oE absolute right to said mortgagee, and without reference to the adequacr or inadequacy of the val~e ot the property mortgaged or to the solvency ot insolve~cy ot said mortgagoc ~r the detendents, and that such rents, profits, income, issues, and revenues shall be applied by such receive~ according to the lien of this mortgage and the practice of such cuurt_ ln the event of any defau[t on the part of the mortgagor hereu~~der, the moctgagor agrees to pay to the mortgagee on demand as a seasonable monthly rental for the premises an amount at least equivalent to one-twelith (1'12) of thc aggregate of the twelve monthly install- ments payable in the then current year plus the actual amount of the annual taxes, assessments, water rates, and ~nsurance premiums for such year not co~•ered by the aforesaid monthly payments. 9. That iu ~ in the event of any breach of this mortgage or defautt on the part of the mortgagor, or /6/ in the e~•ent that an~ of said sums o( money herein referred to be not promptly and full~~ paid without demand or notice, or r~ ~ in the e~•ent tfiat each and evecy ihe stipulations, agreements, conditions. and covenants of said note and this mortgage, are not dulp, promptly, and fully perfotmed; then in eithet or any such event, the said aggregate sum mentioned in said note then remaining unpaid, with interest accrued to that time, and all monevs secured 'i hereb}•, shall become due and pa~~able forthwith, or thereafter, at the option oi said mortgagee, as fully and c.,m- ~ pletely as it all of the said sums of mo~ey were originally stiPulated to be paid on such day, anything in said note a in this mortgage to the contrary notwithstanding; and thereupon ot•thereaftet, at tne oPtion oE said mortga- , gee. W ithout notice or demand, suit at )aw or in equity, may be prosecuted as if all moneys secured hereby had matured prior to its institution. The mortgagee may foreclose this mortgage, as to lhe amount so deciared due and pa}•able, and the said premises shall be sold to satisfy and pag the same together with costs, expenses.and allow- ances. In case of partial foreclosuee of this mortgage, tne mortgaged premises shatl be sold subject to the con- tinuing lien oi this mortgage for the amount of the debt not then due and unpaid. In such case the provisions ot this paragraph ma~• again be availed of thereafter frort: time to time by the mortgagee_ 10. That the mnrtgagor aill give immediate notice by mail to the mortgagee of any conveyance, transfer, or change o( ov?nersh~p of the premises_ ; 11. That no wa~~•er of any covenant herein or of the obligation secured hereby shall at any time thereafter be held to be a wa~~•er of the terms herenE o~ of the note secured hereby. 1~. That ~f the mortgagor default in any of the co~•enants or agreements contained her.•in, or in said note, then the mortgagee ma}• perform the same, and al! expenditures (includ~ng reasonable attorney's fees) made b}• the mortgagee in ~o doing shall drav` tnterest at the rate set Eotth in the note secured hereby, and shall be repayabte immed~atel~~ and w•~thout demand by the mortgagor to the mortgagee. and, together with interest and costs accruing thereon, shall be secured by this mortgage. 13. that the mailing of a written notice a demandaddressed to the owner of record of the mortgaged premises, or directed to the sa~d oKner at the last address actually furneshed to the mortgagee, or d~rected to saidowner at said mortgaged premises, and mailed by~ the United States mails. shall be sufficient notice and demand in any ~ case ar~s~ng under this instrument and required by the pro~•isions hereot or by laK. ~ 1~3. The mortgagor further covenants thai shcwld this morlgage and the note serured herebp not be eligible ~ for insurance under the National I~qusiqg Act w~thin ~~Y5 from the date hereof (written statement of any o(ficer of the Department of liousing and Urban Development or authorized agent of the Secretary ~of lious- ~ ing and Urban De~•elopment dated subsequent to the stJ UAYS time from the date of th~s mortgage, declining to ~nsure said ~ote and this mortgage, being deem<~d conclusive proof of such inel~gibility), the mortga- ~ gee or the holder d the n~te may, at its option, declare all sums secured hereby_immediately due and payeble. The cocenants herein conta~ned shall bind, and the benefits and advantages shall inure to, the respective ~ heirs, executors, administrators, successors, and assigns of the parties hereto. 1Yhenever used, the singular num- ~ ber shall ~nclude the plurai, the plural the s~ngular, and the use ot any gender shall include all genders. ~ ~ ti _ . . ~ . ~ ~ ~ ~~~`K 1~4 2068 . ~ _ ~ _ s - - - _ ~F ~ . _ . ."i~ _ . . . ..:•ri: