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Home My WebLink About2659 S. That he will pecmit, commit, ot s~ffet no waste, impai~ment, or detetia~ation of said property or any pa~t the~eot; and in thc event o[ the tailu~e of the murtgagor to keep the buildi~gs on said premises and those tobe ' erected on said premises, or impro~~ements thercon, in good repair, the mortgagee may make such ~epairs as in its disc~etion it ma~• deem necessary Eo~ the proper pcesen•at~on thereof, and the tull amount ot each and eve~y such ` payment shall be immedi~tel~~ due and pay~able, and shall Se secured by the lien of this mortgage. ' 6 That he will pay all and singular the costs, charges, and expenses, including ~easonable lawye~'~ [ees, ~ and costc o( abstracts of title, incur~ed or paid at any time b~~the mortgagee.because oE the failuce on the part of ~ the mortgagcx promptly and fully to pe~form the ag~eements and cove~ants of said promissory note and this mott- gage, and said costs, chacges, and expenses shall be immediately due a~d payable and shall be secuced by the lien of this mortgage. 7. That he v?il1 keep thc impro~~ements ~ow existing or hereafter erected o~ the mongaged property. insured as may be required from time to time by the moctgagee against loss by fire a~d other hazards, casualties. and contin- gencies i~ such amounis and Eor such pe~iods as ma~ be requi~ed by mortgagee, and will pay promptly, when due, anp premiums on such insucance for payment of which p~ovision has not been made hereinbefore. All insurance shall be ca~ried in companies appra~~ed bp mortgagee and the policies and renewals thereof shali be held by mott- gagee and hat~e attached the~eto loss pa~~abte clauses in favoc of and in focm acceptable to the mortgagee. In e~•ent o[ loss he will give immed~ate notice by mail to moctgagee, and mortgagee may make proot of loss if ~ot• made promptly b~~ mo~tgagor, and each insurance company concerned is hereby authorized and directed to make payment fcx such loss directly to mortgagee instead of to rt:ortgagor and mortgagee jointly, and the insurance pro- ceeds, or any part thereof, may be applied by mortgagee at its option either to ttie reduction of the ~ndebtedness r heceby secured or to the restocation w repair of the property damaged. In event of [o~zclosure of this mortgage or other t~ansEe~ of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all ~ight. title, and intecest o[ the mortgagor in and to any insurance policies then in to~ce shal! pass to the purchaser or gra ntee. 8. That the r.~ortgagee may, at any time pending a suit upon this mortgage, apply to the court having jurisdic- tion thereof [o~ the appointment oE a receiver, and such court shall forthwith appoint a receiver of the premises co~~eczd hereby~ all and singu:.~r, i~cluding all and singular the income, profits, issues, and revenues from v?hateve~ source derived, each and every of which, it being expressly understood, ig hereby mortgaged as if speciEicail~ set focth and described in the granting and habendum clauses hereof, and such ~eceiver shall have all the broad and effecti~•e tunction~ and powers in an~~wise entrusted by a court to a receiver, and such appointment shall be made by such court as an admitted equity and a matter of absolute right to said moctgagee, and without reEecence to the adequacy or inadequacy of the ~alue of the Property mortgaged or to the solvency oc insolvency of said mortgagor or the de[endents, and that such rents, profits, income, issues. and revenues shall be applied by such ~eceivec according to the lien of this mortgage and the practice of such court. ln the event of any default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on ~emsnd as a reasonable monthly rental for the premises an amount at least equivalent to one-twelfth (1/12) of the aggregate ot the twelve monthly install- ~ ments payable in the then current year plus the actual amount of the annual taxes, assessments, watec rates, and insurance premiums for such year not covered by the aforesaid monthly payments. 9. That in the even! of any breach of this mortgage or default on the pad of the mortgagor. or (6) in the ~ event that any of said sums of mone~ herein ~eferred to be not promptly and fully paid withont demand ar notice, or i~~ ~ in the event that each and e~ecy the stipulations, agreements, conditions. and covenants of said note and this mortgage, are not duly, promptty, and fully performed; then in eithec or any such event, the said aggcegate sum mentioned in said note then remaining unpaid. lvith interest accrued to that time, and all moneys secured he:eby, shal! become due and payabie forthwith, or thereafter, at the option of said mortgagee. as fully and com- pletely as if atl of the said sums of money were originally stipulated to be paid on such day, anything in said note or in this mortgage to the contrary notwithstanding; and thereupon or therea[ter, at the option of said mottga- I gee, without notice or demand, suit at law or in equit~, may be prosecuted as if all moneys secured hereby had € I matured prior to its institution_ The mortgagee may foreclose this mortgage. as to the amount so declared due and pay~able, and the said premises shall be sold to satisfy and pay the sa e together with c.~sts, expenses,and ailow-, ances. In case oE partial foreclosure of this mortgage, the mortgag~ premises shal! 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 provisions of this paragraph may again be availed of thereafter from time to time by the mortgagee. 10. That the mortgagor wi?1 give immediate notice by mail to the mortgagee of any conveyance, transfer, or change of ownership of the premises. 11. That no waiver of any covenant herein or oE the obligation secured hereby shall at any time thereafter be held to be a aaiver of the ter:ns hereof or of the note secured hereby. 12. That if the mortgagor deEault in any of the co~•enants or agreements contained herein, w in said note, then the mortgagee ma~• perform the samE, and all expenditu~es (includ~ng reasonable attorney's Eees) made by the mortgagee in so doing shall draw interest at the rate set forth in the note secured hereby, and shall be repayabie # immediatel~• ar.d w~ithout demand b}• the mortgagor to the mortgagee, and, together ~;rith interest and costs accruing ~ thereon, shall be secured by th~s mortgage_ 13. that the maiting o[ a written notice or demandaddressed to the owner of record of the mortgaged premises. or directed te the said owner at the last address actually furnished to ihe mortgagee, or directed to saidowner at said mortgaged pcemises, and mailed by the United States mails, shall be ~ufficient notice and demand in any case atis~ng under this instrument and required by the provisions hereof or by law. ` 14. The mortgagor further covenants that should thi,~,p+~j ~a e and the note secured hereby not be eligible ' ~ for insurance under the National Housing Act wi`'~in .7~7 W1~ from the date hereof (written statement ~ of an}- officer of the Department of Housing and Urban De}~ejop~g~or authorized agent of the Secretary oE Nous- ~ ing and Urbart ~eveln~nent dated subsequent to~ the 'sl7 Di+ time from the dt~ittd this mortgage, ~ declining to insure said note and this mortgage, being deem~~d conclusive proof of such ineligibility), the moctga- ; ~ gee or the holder of the note may, at its option, declare all sums secured hereby immediately due and pa}eble. ~ The covenants herein contained shall bind, and the beneEits and advantages shall inure to, the respective i heirs, executors, administrators, successors, and assigns of the parties hereto. 1~'henever used, the singulat num- ; ~ ber shail include the plura!, the plural the singular, and the use of any gender shal! include all genders. ! ~ l ~ ~ { ~ ' ~ . . .4. _ - - - ~ ~ ~ R ~UJ~7 . boux 19~ . . ~ ~ 4 - _ ~ _ _ , -