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Home My WebLink About2900 e 4. That he will pay all taxes, sssessmeats. water ratea. pnd other governmeMal or municipel cha~ges, fines. or impasitioas, fw which provision has not been mede he~ein~eEae. and in de(ault thereo[ the mortgagee may pay the same; and that he will pcomptly deliver the oEficial receipts the~etor to the moctgagee. 5. That he will pe~mit. commit. or sutte~ no waste. impai~ment, or deterioretio~ of said propetty or a~y part thereof; and in the event of the tailu~e of the mortgagor to keep the building~ on said premises and those tobe erected on said premises. or improvements the~eon, in good ~epair. the modgagee may make such cepairs as in its discretion it may deem necessary for the proper presecvation thereof, and the full amou~t of each and every such payment shall be immediately due and payable, and shall be secured by the lien of this mortgage_ 6. That he will pay all and singula~ the costs. charges. a~d expenses. includi~g reasonable lawyer's tees, and costs oE abstracts of title, incurce~i ~ peid at eny time bythe mortgagee because of the failure on the part o[ the mortgagoc promptly and fully to perform the agreements and covenants of said promissory note and this mort- gage, end said costs, charges, and expenses shall be immediately due a~d peyable and shall be secured by the lie~ af this mo~tgage. 7. That he will keep the imp~ovements now existing or hereafter erected o~ the mortgaged pcopedy. insured as may be required from time to time by the mortgagee agai~st loss by fire and other hazards. casualties. and contin- gencies i~ such .~mourtts and [or such periods as ma~ be required by mortgagee. and will pay promptly. ahen due. + a~y premiums on such insurance [or payment of which provision has not bee~ made herei~ibefore. All insurance ~ shall be carried in companies approved by mortgagee and the policies a~d renewals thereoE shalt be held by mort- gagee arsd haee atsached thereto toss payable clauses in favor of and in form acceptable to the modgagee. ln event o[ loss he will give immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagor, and each insurance company concerned is hereby authocized and directed to make payment Eor such loss directly to mortgagee instead of to mortgagor and mo~tgagee jointly. and the insurance pro- ceeds, or any part thereof. may be applied by mortgagee at its optio~ either to the reduction of the indebtedness hereby secured or to the ce~toration or repair of the property damaged. ln event of foreclosure of this mortgage or other transter ot title to the mortgaged property in extinguishment oE the i~ebtedness secured hereby. all right, title, and interest of the moctgagor in and to any insurance policies then in focce shall pess to the purchaser oc ~ grantee_ ~ 8. That the mo~tgagee may, at any time pending a suit upon this mortgage, apply to the court having ju~isdic- tion the~eof for the appointment of a receiver, and such court shall fodhwith appoint a receiver ot 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 moctgaged as if specifically set forth end described in the granting and habendum clauses hereof, and such receiver shall have all the broad and effecti~e functions and powers in an~~wise entrusted by a court to a receivec, and such appointment shall be made by such court as an admitted equity and a matter of absolute right to said modgagee, and without reference to the adequacy or inadequacy o[ the value of the propedy mortgaged or to the solvency or insolvency of said mortgagor or the defendents, and that such rents, profits, income, issues, and tevenues shall be applied by sueh r~ceiver . according to the lien of !!::s mortgage and the practice of such court. In the event of any default on the pact of the mortgagor hereunder, the mortgagor 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 monthty install- ments payable in the then current year plus the actuaf amount of the annual taxes, assessments, water cates, and insurance premiums [or such year not cove~ed by the aforesaid monthly payments_ 9. That ~ in the event oE any breach of this mortgage or default on the pad of the mortgagor, or (b) in the event that any of said sums of money herein referred to be not promptly and Eully paid without demand or notice, or ~ in the event that each and every the stipulations, agreements, conditions, and covenants of said rtote and this mortgage, are not duly, gro:zptly, and fulty performed; 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 al[ moneys secured hereby, shall become due and payable forthwith, or thereafter, at the option of said mortgagee, as (ully and com- i pletely as if all of the said sums of money were originally stipulated to be paid on such day, anything in said note a in this mortgage to the contrary notwithstanding; and thereupon or therea[ter, at the option oE said matga- ` ~ gee, without notice or demand, suit at law or in equity, may be prosecuted as iE al! 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 satis[y 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 than due and unpaid. In such case the provisions of ~ this paragraph may~ again be a~•aited of thereafter from time to time by the mortgagee. 10. That the mortgagor will gi~e immediate notice by mail to the moctgagee of any conveyance, transter, oc : change of rnvnership of the premises. ~ 11. That no waiver of any covenant herein or of the obiigation secured hereby shall at any time thereafter be held to be a waiver of the terms hereaf or of the note secured hereby. ~ 12. That i[ the mortgagor default in any of the cocenants or agreements contained herein, oc in said note, then the mortgagee may perform the same, and all expenditures (including reasonable attorney's fees) made by the ~ mortgagee in so doing shall draw inte~est at the rate set forth in the note secured hereby, ared shall be repayable ~ ~mmediately and without demand by the mortgagor to the mortgagee, and, togethe~ with interest and costs accruing ~ thereon, shall be secured by this mortgage. { 13. that the mailing of a written notice or demandaddressed to the owner of record of the mortgaged premises, ? or directed to the said owner at the last addiess actually furnished to the mortgagee, ot dicected to said owner at - said mortgaged premises, and mailed by th!* United ~States meils, shall be sufEicient notice and deman~ in any case arising under this instrument and required by the provisions hereoP ot by law. ' , ; 14. 7'fie modgagor turther covenants that should this mortgage and the note secured hereby not be eligible ' tor insurance under the National Housing Act within [rom th9~~e he~eof (written statement = uf any o[ficer of the Department of Nousing and Urban Deve opmenrot authorized agent of the Secretary oE Nous- s ; ~ng ~~U~~ Development dated subsequent to the y~ time from the datg of this mort,ga~ge, j E: declining to insure said note and this mortgage, being dee~ ~~`Rlsive proof oE such ineligibility), t~i ~~t1t~~a- ~ gee or thr holder d the note may, at its option, declare ali sums secured hereby immediately due and payeble_ _ ; The covenants herein contained shall bind, and the benetits and edventages shal! inure to. the respective ~ he~rs, executorg, admin~strators, successors, and assigns ot the parties hereto. Whenever used, the singular num- y ber shall include the plural, the plural the s~ngular, and the use o( any gender shell include all genders. ~ ~ - ~ m 3 ~ ~i r ~ ~ i ~ UR ` ~ ?ovR ~94 2~98 . } ~