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Home My WebLink About2665 ~ c t ~ • ~ 4 S. That hc will pc~mit, cummit, or sufter no waste, imp:iirment, or dete~ioration of said property o~ any part ~ the~eut; aind i.~ the evrnt o( the fa~ilure the mortgagot to keep the buildings on said premises and those tobe errcted on said prem~srs, or ~mp~avements the~eun, in good ~epair, the mortgagee may make such repairs as in its disc~etion it ~nay deem necessary tor the p~ope~ p~ese~vation thereo(, and the tull amount of each apd every such paymrnt sFwll be ~mmed~ately dur and payable. and shall be secured by the lien o( this moctgage. ` 6 That he N ill p:+y all ~nd singular the casts, charges, and expenses, including reasonable lawyer's [ees, ~ and co~ts of abstracts of title, incurred or paid at any time bythe mo~tgagee.because of the failure on the p~art o[ ; the murtgugor promptly :~nd fully to pe?[orm the ag?eemrnts and cove~ants of said promisso~y note and this mort- ~ gage. ~+~d said costs, charges, artd expeases sh~!! be immediately due and pay~able and shall be secu~ed by the licn of this m~xtg~ge. That hc witl keep the impro~~ements now existing or hereattcr e~ected on the moHgaged property, insuted as may be tequired from time to time b~~ the mortgagee against loss by fire and other hazards, casualties, and contin- gencies in such amounts and for such periods as ma~• be requi~ed by mottgagee, and will pay promptly, when due, an~ premiums on such insurance (or payment of which provision has not bee~ made hereinbefore. All insurance shall be car~ied ~n comp:,nies approved by mortgagee and the policies and renewals the~eoE shall be held by mort- gngee and ha~•e attached the~eto l~ss payable clauses in Eavo~ ot and in form acceptable to the mortgagee. in e~•ent o[ luss he will gi~•e immediate notice by mail to mortgagee, and mortgagee may ~r.ake proof of loss if not madr promptty h~• mortgagor, and each insurance compenp concerned is hereby authorized and directed to make p:~yment Eor such loss directiy to mortgagee instead of to morigagor and mortgagee jointly, and the insurance pro- ceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness • tp hereby secured ur to the restoration ot repair o[ the property damaged. ln e~•ent o[ foreclosure of this mortgage or 1 other irans[er of title to the mortgaged property in extinguishment the indebtedness secured hereby, all cight. ~ t~tle, and interest of the mortgago~ in and to any insurance policies then in force shall pass to the pu~chaser or , Rrantee. 8. 1'hat the mortgagee may, at any time pending a suit upon this mortgage, apply to the court having jurisdic- t~on thereof [or the appointment o[ a rereive~, and such court shai! forthv?ith appoint a receiver of the premises covered hereby all and singular, including all and singular the income, pcofits, issues, and revenues f~om whatever source derived. each and eve~y of which, it being expressly understood, is heceby mortgaged as if specifically set torth and described in the g~anting and habendum clauses hettof; and such receiver shall have alt the broad and effect~~•e functions and powers in an~•wise entrusted by a court to a4eceiver, and such appointment shall be made b~• such court as an admitted equit}• and a matter of absolute right to said mortgagee, and without reference to the adequac~• ar inadequacy of the ~•alue of the propecty mortgaged ot to the solvency oc insolvency of said mortgagor or the defendents, and that such rents, profits, income, issues. and revenues shall be applied by such receiver :+ccordin~ 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 agcees to pay to the mortgagee on demand as a reasonable monthly rental for the premises an amount at least equivalent to one-twelfth {1!12) of the aggregate of the twelve monthlyinstall- r~rnts pa~•able in the then current year plus the actual amount of the annual taxes, assessments, water rates, and ~nsurance premiums Eor such year not covered by the aEoresaid monthly payments_ 9. That ~ in the event of any breach ot this modgage or dffault on the part of the mortgagor. or /6) 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 every the stipulations, agreements, conditions. and covenanis of said note and this mortgage, are not duly, promptly. and full}~ periormed; then in either or any such event, the said aggregate sum mentioned in said note then remaining unpaid, with interest accrued to that time, and all moneys secured herebt•, shall become due and payable forthwith, or therea[ter, at the option of said moctgagee, as fully and com- pietely as if all of the said sums ot money were originally stipulated to be paid on such day, anything in said ' note or in this mortgage to the contrary notwithstanding; and thereupon oc therea[ter, at the option of said mortga- gee, without notice or demand, suit at law or in equity, may be prosecuted as iE all moneys secured hereby had matured 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 pay the same together with costs, expenses,and allow- ances. In case of pertial foreclosure of this mortgage, the mortgaged premises shali be sold subject to the con- t~nuing tien of this mortgage (or the amount of the debt not then due and unpaid. In such case the provisions of th~s paragraph may again be availed ot thereafter from time to time by the,v~ortgageo. • , 10. That the mortgagor will give ~mmediate notice by mail to the mortgagee of an~ conveyance, transfer, or change of ow•nership of the premises. 11. That no waiver af any covenant herein or of the obligation secured hereby shall at any time thereafter be held to be a K•ai~•er oi the terms hered or of the note secured hereby. 12. That if the mortgaga default in any of the co~•enants or agreements contained herein, or in said note, then ' the mortgagee may~ perform the same, and ail expenditu~es (includ~ng reasonable att~xney's fees) made by the mortgagee ~n so doing shal! draw interest at the rate set forth in the note secured hereby, and shall be repayable imm~~iatPl}~ an~1 w~thout dPmand b~~ the mo~?g=+gcx to ihe mortgagee, and, t~?gether with i~terest a~d costs accruing thereon, shall be secured b~• this mortgage. 13. that the mail~ng of a written notice or demandaddressed 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 said mortgaged pcemises, and mailed by the United States mails, shall be sufficient notice and demand in any case aris~ng 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 5 for insurance under the National Housing Act within ~~Y$ from the date hereof (written statement of anp ofticer of the Department of Heusing and lSrban Deve opment or authorized agent of the Secretasy of Hous- ~ng and Urban Development dated subsequent to the ~[~~ys time . from the date ot this moc~ge, ' declining to in'sure s~id note and this-mortgage, being deem~~d conclus~ve proof of such intl~gibility), the mortga- gee or the holder of the note may, at its option, declare all sums secured hereby immediately due and payable. 'fhe covenaats herein contain~d shall bind, and the benefits and pdvantages shall inure to, the respecttve ! heirs, executors, administrators, successors, and assigns o( the parties hereto. Wheneve~ used, the singular num- ber shall inctude the plural, the plural the ~ingular, and the use o( any gender shall include all genders. ; s ~ - f 1 ~ t . ~ R 194 26~~ ~ 80t~K - ~ ~ . - ' . , ~ • ~ ~ _ ~ . ~ , . _ _ _