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Home My WebLink About2641 . . t ~ A. . . • . . , - • . 4. Tha1 he will ~.ay all taxes, assessments. water rates. and dhe~ gove~nme~tal oc municipel chacges. fines. or impositions. fo~ wl?ich pcovision has not bee~ mede hereinbefore~ and in default thereof the mo~tRagee may pay the same; and that he wil) promptly deliver the o(ficial receipts the~efor to the mortgegee. 5. That he wiU pecmit. commit, ot suffec no wastr. impairment. or deterioretion ot seid pcopetty o~ pny part the~eof; and in the event o[ the (ailure ot the mortgago~ to keep the buildings on said p~emises ar~d those tobe erected on said premises, or improvements thereon, in good ~epair. the moKgagee may make such ~epei~s as in its disc~etion it may deem necessa~y for the p~opet presecvation the~eof. and the Eull emount ot each end every such paymenl shall be immediately due and payable, and shall be secured by the tien of this mortgage. 6. That he will pay a!1 and singular the costs, charges, and expenses. including ~easonable lawyer's tees, and costs of abstrects of title, incurred oc paid at any time bythe m«tgagee because of the failure on the part of i the mortgaRoc promptly and futly to perform the agreements and covenents oE said promissory ~ote and this mo~t- gage, and said costs, cha~ges, end expenses shall be immediately due and payable and shall be secured by the ' lien of this mortgage. ' 7. That he will keep the improvements aow existing or hereaEter erected on the mo~tgaged prope~ty. insured as may be required from time to time by thg mo~tgagee against loss by fire and other hazards. casualties. and contin- gencies in such amounts and for suc~ periods as may be requiced by mortgagee. and will pay p~omptly. when due, a~y premiums on such insurance (or payment of which provision has not been made herei~before. All insurance shall be ca~ried in companies approved by mortgagee and the policies and renewals thereof shall be held by mat- gagee and have attached thereto loss payable clauses in Eavoc o[ and in form acceptable to the mottgagee. ln event uf loss he will give immediate notice by mail to modgagee, and mortgagee may make proo[ of loss if not made promptly by mortgagor, and each insurance company concerned is hereby authocized and directed to make paymxnt tor such loss dicectly to mortgagee instead of to mortgagoc and mortgagee jointly. and the insurance pro- ceeds. or any part thereof, may be applied by mortgagee at its optioe either to the reduction of the indebtedness hereby secured or to the restoration or repair oE the property damaged. In event of foreclosure of this mortgage oc other transfer of title to the mortgaged property in extinguishment ot the indebtedness secured hereby, all right. ? title, and interest of the mortgagar in and to any insurance policies then in force shail pass to the purchaser or ' grantee. ~ 3 8. That the mortgagee may, at any time pending a suit upon this mortgage. apply to the court having jurisdic- tion thereof foc the appointment of a receiver, and such court shall forthwith appoint a receiver of the premises covered hereby all and singular, including all and singular the income. profits. issues. and revenues from whatever source derived, each and every of which, it being expressly understood, is hereby modgaged as if speciEically set forth end described in the granting and habendum clauses hereof, and such receiver shall have atl the b~oad and effective functions and powers in anywise entrusted by a court to a receive~, and such appointment shall be made by such court as an admitted equity and a matter of absolute right to said mortgagee. and without reference to the adequacy or inadequacy of the value of the property moctgaged or to the solvency oc insolvency of said mortgagor : oc the defendents, and that such rents, proEits, income. issues, and revenues shall be applied by such receiver according to the lien of this mortgage and the practice of such court. !n the event of any default on the part of the L mortgagor hereunder, the mottgagor agrees to pay to the mortgagee on demand as a reasonable monthly rental Eor ~ the premises an amount at least equivalent to one-twelfth (1/12) of the 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 insurance premiums for such year not covered by the aforesaid monthly payments. 9. That (o/ in the event of any breach of this modgage or default on the pad of the modgagor, or (6) in the event that any of said sums of money herein referred to be not promptly and fully paid without demand or notice, or /~•1 in the event that each and every the stipulations, agreements, conditions. and covenants of said note and this mortgage, are not duly, promptly, and fully perforraed; then in either or any snch event, the said aggregate sum mentioned in said note then remaining unpaid, with interest accrued to that time, and all moneys secured ~ hereby, shall became due and payable forthwith, or thereafter, at the option of said mortgagee, as fully and com- i ; pletely as iE all of the said sums of money were originally stipulated to be paid on such day, anything in said i note or in this mortgage t~ the cont~ary notwithstanding; and thereupon or thereatter, at the option of said mortga- I gee, without notice or demand, suit at law or in equity, may be prosecuted as if bll moneys secured hereby had matured prior to its institution_ The mortgagee may foreclose this mortgage, as to the amount so declared due and payable, and the said premises shall be sold to satisfy and pay the same together with costs, expenses,and allow- ances_ In case of partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con- : tinuing lien of this mortgage for the amount of the debt not then due and unpaid. In such case the grovisions of ~ this paragraph may again be availed of thereafter from time to time b~ !he mortgagee. . 10. That the mortgagor will give immediate notice by mail to the mortgagee of any conveyance, transfer, or chanae of ownership of the premises. 11. That no waiver of any covenant herein or of the obligation secured hereby shail at any time thereafter be held to be a waiver of the terms hereaf or of the note secured hereby. 12. That if the moctgagor default in any of the covenants or agreements_ contained herein, or in said note, then the mortgagee may perform the same, and all expenditures (inctuding reasonable attorney's [ees) made by the mortgagee in so doing shall draw interest at the rate set fath i:o the note secured hereby, and shall be repayable immediately and without demand by the mortgaga to the mortgagee, and, togethet 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 moctgaged Premises, " or directed to the said owner at the last addcess actually furnished to the mo~tgagee, or directed to said owner at ~ sa~d mortgaged premises, and mailed by the United States mails, shall be sufEicient notice and demand in any case arising under this instrument and required by the provisions hereof or by law. ~ 14_ The mortgagor further covenants that should this mortgage and the note secured hereby not be eligible ~ for insurance under the National Housing Act within from the date hereot (written statement s of any of[icer of the Depactment of Housing and Urban Developmeni ot authorized agent of the Secretaty of Nous- - ing and Urban Development dated subsequent to the time ftom the date o[ this mortgage, ~ declining to insure said nMe and this mortgage, being deertr~d conclusive proof of such ineligibility), the mortga- ~ gee or the holder of the aote may, at its option, declare all sums secured heceby immediately due and payable. ~ The cover.ants rerein contained shall bind, and the benefits and advantages shall inure to, the respective • heirs, executors, administrators, successas, and assigns of the parties hereto. 1~henever used, the singular num- ~ ber shall include the plucal, the plural the singular, and the use of any gender shall include all genders. ~ ~ ~ ~ ~ . . 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