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Home My WebLink About2316 -l. That he will pay all taxes. usscss~aeots. water cates, aad other go~•eromental o~ municip~l chargrs, iines, ~x ?mp~~sitions, fu~ v?hich pro~•~s~on has not beeo enade hcc~einbefoce, and ie de(ault thereo[ the .nortgagce ma~~ pay the ~ame; and that he vr~ll pcanptly del~~•er the oificia{ teceipts theretor 10 lhe morlgAgee. , 5. Tfia1 he wiil permit, comuiit, or su[fer no waste, impairment, o~ deterio~ation of said property or any part thereof, and in the e~•ent of the failure c,f the mortgagor ta keep the buildings on said premises an~f those tobe erected on said premises, or ~mpro~~ements thereun, in good repair, th~~ mortgage~ may mdke such rep:ii~s as in its discretion ~t may deem necessatr fo~ the p~oper prese~~~ation thereof, and the fut! amount ot each and e~•ery such pa~ment shatl br immed~ately due and pa~~able, and +hall be secured by the lien of thi; mortg~ge. 6 That he vril! pa~• all and singular the costs, charges, and rxpenses, including ~easonable laH•yer's fees, and costs of abstcacts oE title, incuaed ~x paid at any time by the mo~tgagee because ot the tait~ce un the part of the mo~tgagor promptl~• a:id full~• to perform the ag~eemenis and co~~enants of said promissory note and this mort- gage, and said costs, charges, and expenses shalt be immediately due and payable and shall be secured by the 1~en of tfiis mortgage_ 7_ That he will keep thr impro~•err.ents nov? existing or hereafter erected on the mortgaged pruperty, insured as may be reqaired from time to time b~• the moctgagee against loss by [ice and othPC hazards, casualties, and contin- gencies ~n such amounts ~~id for such periods as may be required b~• mortgagee, and will pay promptly, when due, ant~ pcem~urt~s on such ~nsurance for pa~•ment of whi~n provis~on has not been made he~einbefo~e. All insurance shaU be carried ~n companies appro~~ed b}~ moclgagee and the ~olicies and renewals thereoE shall be held by mort- gagee and ba~~e attached theceto luss pa~-able clauses in favor oE and in fo~m acceptable to ifie mortgagee. ln e~~ent af loss he K~itl gi~•e immediate notice by mai! to mortgagee, and mortgagee may make pcoof oE loss iE not made ~romptl~• by mortgagor, and each insurance company concerned is hereby authorizrd and directed to make payment for such los= directl~• to moctgdgee instead oE to mortgagor and moctgagee jointly, and the insurance p~o- ceeds. or any part thereof, snay be applied by mo~tgagee at its option either to the reduction oE the ir.debtedness hereby secured or to the restorati~n or repair of the propert~ damaged. In ecent of foceclosure of this mortgage or other transfer of iitle to the mortgaged property in extinguishment o[ the indebtedness secured hereby, all right, t~tie, and inte~est of the mortgaga i~ and to an~• insurance policies then in [orce shall pass to the purchaser or grantee. 8_ That the moctgagee may, at any time p.~nding a suit upon this mortgage. ppply to ~hf court having jurisdic- t~on thereoE foc the appointment of a recei~er, and such court shall [orthwith appeint a' receiv~er.oE the premises co~•ered hereb~• all and singular, includ~ng all and singular the income, profits, issues. and reveaues from whate~•er source deri~•ed. each and e~•er~• of v?hich, it being expressiy understood, is hereby mortgaged as if specifically set focth end described in the granting and habendum cfauses hereof. and such receiver shall have a'll the broad and e(fecti~~e functions and powers in an~-W ise entrusted by a caurt to a receiver, and such appointment sfialf be made b~- such court as an adm~tted equ~ty and a matter of absolute right to said mortgagee, and without reference to the adequact• vr inadequacc of the calue of the propeR~• mortgaged cr to tke solvency or insolvenc~ o[ said mortgagor ur the defendents, and that such rent~, profits, income, issaes, and revenues shall be applied b)• such receiver arcurding to the lien oE this modgage and the practice of such couct- In the e~~ent ot any default on the Fart of the :*:ortgagor here!i~der. the m.Ytgagor agrees to pay to the mortgagee on demand as a reasonable monthl~ rentat for the premises an amount at least equiti•a[ent to one-twelfth (1 '12) of the aggregate of the twelve monthly install-' ~ents pa}•able in the then current }•ear ~?us the actual amount of the annual taxes, assessments, v?ater rates, and insu~ar.ce p~emiums for ~uch cear not co~ered b} the aforesaid monthly payments. 9. That ~n the e~•ent of an~• br~ach of this mortgage or default on the pad oi the mortgagos, or (bJ in the e.•eat tnat ant• of said sums of mone~ herein referred to be not promptly and fully paid without demand or notice. - or in the e~•ent that each and ea•er}• the st~pulations, agreements, conditions, and covenants of said note and this mortgage. are not dul~•, promptly. and fully performed; then in either or any such event, the said aggregate I sum meationed ~n sa~d note then remaining unpaid, with iaterest accrued to that time, and all moneys secured ~ nereb~•, shaIl become due and payable forthweth, or thereaiter, at the option of said mortgagee, as fulty aad com- pletel}~ as if aU of the said sums of money~ were originall~• stipulated to be paid on such day, an;thing in said ~ note or in this mortgage to the contrary notwithstanding; and thereupon or therea[ter, at the option of said mortga- gee. without notice or demand, suit at law or in equity, may b~- prosecuied as iE all moneys secured hereby had tr.atured 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 sold to satisfy and pat• :he same together with costs, expenses.and allow- ances. ln case of partial foreclosure o! this mortgage, the mortgage~ premises shall be sold subject to the con- ` tinu~ng lien of this mort~,age tor the amount of the debt not then due and unpaid. In such case the pro~•isions of this paragraph ma~• again be acailed of thereaftec from time to time b~• the mortgagee_ 10. That the rnortgagor v?i11 gi~~e tmmediate notice by mail to the morigagee of any conveyance, transfer, or change of oknership of the premises_ I1 That no Ka~~•er of any co~•enant herein or of the obligation secured hereby shali at any time thereafter be heid to be a u•an•er of the terms hered or of the note secured hereDy_ 12. That if the mortgagos default in any of the co~-enants or agreements contained herein, or ~n said note, then ' the rnortgagee rr,a}• perform the same. and all expenditures (includ?ng ceasonable attorney's fees) made by the mortgagee in co doing shall dravr ~ntecest at the rate set forth in the note secured hereby, and shall be repayabte i:~rediatel}- and vrithout de:aand by the martgagor to the mortgagee, and, together with interest and costs accruing thereon, sha{1 be secwed b~ th:s martgage. 13_ that the mail~ng of a wc~tten not~ce a deman3 addressed to the owner of record of the mortgaged premises, or directed to the said owner at the last address actually furnished to the mortgagee, or directed to said owner at , sa~d mortg~?ged pc~pises,•and mailed by the United $ta~e mails, shail be sufficient oOtJcb'and dem~nd in any ; case atising under this instrument and required by the pr6~~ions hereof or by law. ~ 14. The mortgagor further covenants that should this mortgage and :he note secured hereby not be eligible ~ tor insuranre vnder the I3ational Housing Act within fr~m the date hereof (written statement ~ of am- officer d tSe Depa~tment of Housing and U:ban Devetopment or authorized agent of the Secreiary of Hous- ~ ~ng and Urban Decelopment dated subsequent to the time ftom the date of this mortgage. declining to insure said note and ~h~s mortgage, being d~d"c-omclusive proof o( such ineligibility), the mortga- ~ gee oc tfie holder of the note may, at its option, declare all sums secured herebp immediately due and payable. ~a 7'he co~~enants fierein contained shall bind, and the beneEits and advantages shalt inure to, the respective ~ he~cs: executors, administratocs, successors, and assigns of the parties hereto. whenever used, the singular num- ~ ber shat; inclnde the plural, the plural the singular, and the use of any gender shall include alt genders- x ~ ~ ~ ~ ~ ~ s~ w 1g4 ~31'S ~ ~ ~ - ~ ~ _ _ _ - ~ _ . _ . . . . _ , _ : . _ _