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Home My WebLink About2322 l 4. That he will pHy all taxes, assessments, wate~ rates, a~d othe~ govrromental or municipal cha~ges, (ines, ec ~mpo~itions, for which pro~~ision has not been made heteinbefore, and in de(ault the~eoE the mortgagee may pay the same; and that he will pronptly delive~ the otticial ~eceipts the~efor to the mortgagee. S. That he will p~rmit, commit, or suf(ec no waste, imp:iirment. or deteriocation ot said properly oc any pa~t thereo[; Hnd in the event of the failu~e of the mortgagor to keep the buildings on said N~emises and those tobe ecected o~ said premises, or improvements thereon, in good ~epair, the mortgagee may make such ~epai~s as in its discret~on it may deem nrcessa~}• for the p~oper prese~vation thereo[, and the full emount o! each and every such paymrnt shall be ~mmcdiately due and payabte, and shail be secu~ed by the lien ot this mortgage. 6. That he will pay all and singular the ca~ts, charges, asd expenses, including ~easonable lawyer's [ees, and costc ot abst.acts ot title, incu~red o~ paid at any time bythe moctgagee because o[ the failure on the part of the mortgagcx promptlp and iully to per[ocm the agreements and covenants of said promissory note and this mort- gage, and said costs, charges. Hnd expenses shall be immediately due and payable and shall be secured by ihe lien of this mortgage. . 7. That he will keep the imp~ovemcnts now existiag or he~eafter erected oa the mo~tgaged property, insured as may be requi~ed from time to time b~• the mortgagee against loss by fite and other hazards, casualties, and contin- gencies in such amounts and for such periods as may be requi~ed by mo~tgagee, and wiil pay promptly, when due, any premiums on such ~nsurance tor payme~t of which pro~~ision has not bc~en made hereinbetore. All insurance shall be ca~eied ~n companies appro~~ed by mortga~ee and the policies and renewals thereof shall be held by moct- gagee and ha~•e attached thereto luss payable clauses in favor oi a~xi in form acceptable to the mo~tgagee. In e~•ent of loss he wilt gi~•e immediate notice by mail to mortgagee, a~d mortgagee may make ~roof of loss if not made promptly by mortgagor, and each insurance company concerned is hereby authorized and directed to ~ake payment for such toss directly to nortgagee instead of to mortgag« and mortgagee jointly, and the insurance pco- ceeds, or any part the~eof, may be applied by mortgagee at its option either ta the reduction of the indebtedness he~ebp secured or to the restoration or repaic of the property damaged. In event o[ foceclosure of this mortgage or othe~ transfer ot title to the mortgaged property in extinguishm~~t o[ the indebtedness secured heceby, all right. title, and ~nterest of the mo~tgag~x in and to an~• insurance policies then in force shail pess to the pucchaser w grantee. 8. That the mortgag~e may, at any time pending a suit upon ihis mortgage, apply to the court having jurisdic- tion thereof for the appointment of a receiver, and such court shall forthwith appoint a receiver of the pcemises co~•ered hereby all and singular, including all and singular the ~ncome, pcufits, issues, and revenues from whatever ~uurce deri~•ed, each and e~•ery of which, it being expressly undecstood, is hereby mortgaged as if specifically set forth ~nd described in the granting and habendam clauses hereof. and such receiver shall have all the broad and effecti~•e functions and pawers in anyu?ise entrusted by a court to a receiver, and such appointment shall be made bp ~uch court as an admitted equity and a matter of absolute right~to said modgagee, and without reference to the adequac~~ or inadeQUacy~ of the ~alue of the prope~ty mortgaged or to the solvency or insolvenc~ of said moctgagor or the defendents, and that such rents, proEits, income, issues, and revenues shall be applied by such receir•er according to the lien of this mortgage and the practice of such couet_ In the event of any default on the part of the mort~agor hereunder, the mortgagor agrees to Ray to the mortgagee on demand as e reasonable monthly rental (or the premises an amount at least equivalent to one-tweltth (1'12) of the aggregate of the twelve monthlyinstall- ments pa}•able in the then current year plus the actual amount oE the annual taxes, assessments, water rates, and msurance premiums for such year not co~•ered b~~ the a(oresaid monthly payments. That ~ in the e~•ent af an}• breach of this mortgage or default on the pad of the mortgagor, or Ibl in the e~•ent that any of said sums of money herein referred to be not promptly and fully paid without demand or notice, or in the e~•ent that each and e~•er}• ihe stipulations, agreements, conditions. and covenants of said note and this mortgage. are not duly, promptly. and fully performed; then in either or any such event, the said aggregate ~ sum mentioned in sa~d note then remaining unpaid, with interest accrued to that time, and all moneys secured ~ hereb~•, shall become due and payable forthvsith, or thereafter, at the option of said mortgagee, as fully and com- ; pletely as if all of the said sums of money v?ere originally stipulated to be paid on such day, anything in said ! note or in this mortgage to the cont:ary notwithstanding; and thereupon or thereafter, at the option of said mortga- ! gee, without notice or demand, suit at IaK or in equity, ma~• be prosecuted as iE all moneys secured hereby had ~ matured prior to its institution. The mortgagee may forecl0.te this mortgage, as to the arr:ount so dec;ared due and ~ payable, and the said premises shall be sold to satisfy and pa~• the same together with costs, expenses.and allow- dnces. In cace of partial forectosure of this mortgage, the mortgaged premises shalt be sold subject to the con- tinuing lien of th~s mortgage [or the amount of the debt not then due and unpaid_ ln such case the provisions of this paragraph ma}• again be a~•ailed of thereafter from time to time by the mortgagee. 10_ That the mortgagor witl gi~•e immediate notice by mail to the mortgegee of any com•eyance, transfer, oc change of ownership of the premises. ~ 11. That no vrairer of any covenant herein or of the obligation secu~e~1 hereby shall at any time therea[ter be hetd to be a wa~~•er of the terms hereo[ or of the note secured hereby. 12. That if the mortgagor default ~n an~• o[ the co~•enants or agreements contained here~n, or ~n said oote, then the mortgagee r:~a~• perform the same. and all expenditures (inctuding reasonable attotney's fees) made by the mortgagee in ~o doing ;hall draw interest at the rate set forth in the note secured hereby, and shall be repayabte ~ ~ ~mmediatelY and w~ith: ut demand b~• the mortgagor to the mortgagee, and, together with interest and costs accru~ng thereon, sha31 be sa::ured b~• this mortgage_ ~ 13. that the ma~ling of a wr~tten notice cr demandaddressed to the owner of record of the mortgaged Fremises. or directed to the said owner at the iast address actually furnished to the mortgagee, or directed to said owner at ~ said mortgaged premises, and mailed b~~ the United States maiis. shal! be sufEicient notice and demand in an~ case arising undec this instrumenl and required b}• the pco~•'scjons hereof ot by law_ ' 14. The mortgagor further covenants that should th s mort ga~ e and the note secured hereby not be eligible ~ for insurance under the Nationat Housing Act within ~ ~Al?C . trom the date hereof (written statement ~ of any officer of the Department of Housing and Urban Development or authoriaed agent of the Secretary o[ Hous- ~ ~ng and Urban Development dated subsequent to the ~~YS time from the date of this mortgage, ~ declining to insure said notr and this mortgage, being deem~~d conclusive proof ot such ineligibilit~~), the mortga- ~ gee or the holder d the note rray, at its option, declare all sums secnred hereby immediately due and payable_ ~ The covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective ~ heirs, executors, adm~nistrators, successws, and assigns of the parties hereto. V6henever used, the singular num- t,er shall include the p:ural. the plurai the singular, and the use of any gender shall include all genders. . ~ ' ~ ~ ~ ~ ~ g~4~ 194 ~32i ~M ~ ~ s - - - : _ . _ _ _ _ _ _