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Home My WebLink About2818 e i 4. Th:~t he will pay all t;~xes, :~+sessments, water rates, and dhe~ go~~ernmcntal or municipal charges, tines, o~ ~mpacit~uns, fo~ which pra~•ision has not been made hereinbetore, a~d in detault thereot the moitgagee may pay thr same: ond that he will promptly~ delivec tt~e of(icial receipts thetefor to the teo~tgagee. S. That he will permit, commit, or su[fer no waste, impairment, ot deterioration ot said property o~ any part thereo(; and in the event of the (ailure of the mo~tgago~ to keep the buildings on said premises and those tobe e~ected on said premises, ur imp~o~•ements the~eon, in good ~epait, the mo~tgagee may muke such tPpeirs as i~ its d~scrct~on rt may deem necessa~y (or the p~opet prese~vation the~eof, and the (uU amount of each and every such Pa~•m~ nt thall be immediately due and payable, and shall be secu~ed by the l~en oE this mortgage. 6 That he will pay all And singular the casts, charges, and expenses, includin~ teasonable lawye~'s (ees, and costs of abstracts o( titte. ~ncurred o~ paid at any time bythe mo~tgagee because ~f the [ailu~e on the part o[ the ma~tgagor promptty and fully to per[orm the agreements and cove~ants _of said p~omissory note and this mort- gage, and said costs, charges, and expenses shall be immediately due and papable and shall be secured by the lien ot th~s mortgage. 7. That he will keep the impcu~eraents now existing or hereatter erected on the mo~lgaged property, insured as may be required from time to time by the mortgagee against loss b~ fire and other hazards, casualties, and co~tin- genc~es ~n such amounts and for cuch periods as map be requi~ed by mortgagee, and w~ll pay promptly, when due, an~• prem~ums on suc-h insurance fo~ payment of which pro~•ision has n~t been made he~einbe[o~e. All insurance shall be carried ~n companies appro~•ed by martgagee and the policies and renewals thereof shall be held by mort- gagee and ha~•e attached the~eto los~ pa~~able cla?~ses in fa~~o~ ot and in form acceptable to the mortgagee_ In e~~cnt o[ lu~s he u~itl gi~•e immediate notice by mail to mo~tgagee, and mortgagee may make proof of loss if not made promptly by mortgagor, and each insurance company concerned is hereby authorized and directed to make pa~•ment for such loss directly to mortgagee instead of to mortgagix and moctgagee jointly, and the insurance pro- ceeds, or any pa~t thereof, may be apptied by mortgagee at its option either to the reduction of the indebtedness hereb~ secured or to the restoration oc repair of the propert~• damaged. In event of fo~eclosure of this mortgage or other transter of title to the mortgaged property in extingu~shment of the indebtedness secured hereby, all right, t~tle, and interest of the mortgaKvr in and to any insurance policies then in force shall pass to the purchaser or grantee. R. That the mortgagee may, at any tir.ie pending a suit upon this mortgage, apply to the court having jurisdic- tion thereof (or the appoi~tment of a receiver, and such court shall forthwith appoint a receiver of the premises ro~~er~d hereb~• all and singula~, including all and singular the ~ncome, profits, issues, and revenues from whatever .uurce deri~•ed, each and e~er~• af v?hich, it beinq expcessly understood, is hereby mortgaged as if specifically set forth end described in the granting and habendum clauses hereof, and such ~~ceiver shall ha~•e all the bcoad and effectire tunct~ons and pawers in an~•wise entrusted by a court to a receicer, and such appointment shall be made by such couct as an admitted equity and a matter of absolute right to said mortgagee. and without reference to the adequac~- or ~nadequac~• of the ~•alue of the property mortgaged or to the solvency or insolvency of said mortgagor ur the de[endents. and that such rents, proEits, income, issues, and revenues shall be applied by such ~eceiver ~ :~ccurdin~t to the lien of this mortgage and the practice of such court. In the event of any default on the part of the 3 murtgagor herennder, the mortgagor agrees to pa~~ to the mortgagee on demand as a reasonable monthly rental for ; the premisrs an amount at ieast equiaalent to one-twelfth (1'12) uf the aggregate of the twelve monihlyinstall- ments pa~~able ~n the then current year plus the actual amount of the annual taxes, assessments, veater rates, and ~ ~nsurance premiums for such }•ear not co~•ered bp the a[oresaid monthl}• payments. Q. That ~ ~n the e~~ent of any breach of this mottgage or default on the part oE the mortgagor, or (b) in the ` e~•ent that am• o[ said sums of money herein referred to be not promptly and fully paid wrthout demand or notice, ' or • in the e~•ent that each and e~•ery the stipulations, agreements, conditions. and covenants of said note and ; this mo:t~a~e, are not duly, promptly, and full~• per[ormed; then in either or any such event, the said aggregate ~ , ; s~m ment~oned in said note then remai~ing unpaid, with ~nterest accrued ta tnat time, and all mone~s secured i hereb~, shall become due and payable forthwith, oc thereatter, at the option of said mortgagee, as fully and com- _ ~ pletely- as if all of the said sums of money were originally~ stipulated to be paid on such day, anything in said ~ note or in this mortgage ta the contrary notwithstanding; and thereupon or thereatter, at the option of said mortga- ~ f gee. w ithout notice or demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had I matured pnor to its institution_ The mortgagee may foreclate this mortgage, as to the amount so declared due and ~ pa~~+ble, 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- - ~ tinu~ng lien of th~c mortgage for the amount of the debt not then due and unpaid. In such case the pro~•isions ot this paragraph r.:at- aqain be a~•a~led of thereafter from time to time by the mortgagee. ! 10 That the mortgagor v?~il give ~mmediate notice by~ ma~l b the mortgagee of any com•eyance, transfer, or ~ change of ow•nership of the premises ; 11 . That no u•a~~•er of an}• co~•enant here~n o~ of the obl~gation secured hereby shall at any time thereafter be ! hetd to be a Ka~cer of the terms hereof or of the note secured hereby. i 12. That if the rnurtgagor deEault in ant• of the co~enants or agreements contained herein, ~r ~n said note, then ~ the :*;urtga~ee meg perfoc;n the same, and all expend~tures (including reasonable attotney's fees) made by the c mortgagee ~n ~o doing shall dravr interest at the rate set (orth in the note secured hereby, and shall be repayable ! ir-~medsately and witFuut dema~d b}• the mortgagor to !he mortgagee, and. together with interest and costs accru~ng i thereon, shall be secured b~• this mortgage. ~ 13. that the ma~ling of a wnt;en notice or dert:andaddressed to the owner of record of the mortgaged premises, ~ ur d~rected to the said uxner at the last address actually furmshed to the mortgagee, or directed to saidowner at ~ sa~d mortgaged prem~~es, and mailed b~ the United States mails, shall be su(ficient notire and demand in any case ar~sing under th~s ~nstrume~t and required bv the pro~•isions hereof o~ Ly~ taw. 14. The mortgagor further covenants that should this mort age and the note secured herebp not be eligible Eor insutaiOCe pq~C~ t1~e-3Vaticnal Flousin~.AC~j~ti~p - from the dat~herept•(wrj+ten s~~R s of an~~ off~cer of the Department of Nousing and Urban Decelopment or author~zed agent of the Secretary of Hous- ' ing and Urban De~•elopment dated subsequent to the t~me from the date of this mortgage, = declining to insure said note and th~s mortgage, bei~g deem•~d conclusi0e proof of such ineligibilit}•), the moriga- ~ gee or the holder o[ the note may. at its option. declare atl sur.~s secured hereby immediately due and payeble. ~ The c~~enants hesein contain>d sh~lt birtd, and the benefits and advantages shatl inure to, the respecti~•e ~ }iPITS. PXPCU~MS, administrators, successors, and assigns of the part~es hereto. N'henever used, the s~ngular num- ber shail include the plural, the plural the s~ngular, and the use of an~ gender shall include ail genders. ~ i r € ~ ~ ~R1~ ~ ~1~ ~ ~ ~ _ . ~ _ _ _ _ _ . _ _ _