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Home My WebLink About0115 S. That he will pc~mit, cummit, ot suf[et no v~aste, impi+irment, ot dete~icuation o[ said prape~ty or any parl thrrcof; und io the event of the tailure of Ihe ma~tgagoc to kPep the buildings on said p~emises a~ thuse tobe er~titcd on said p~rmises, or improvements the~eon, in ~ood tepair, lhe mo~tgagee may make such ~epairs .+S in its discretion it rt?ay deem necessary for the p~oper ureservation•thecPO[, und the tull pmouot of each and every ~uch paym~nl sh~ll be immediately due and pa~~uble, and sh:~ll be secured by the iiect of Ihis mortgage. 6. That he will pay all and singular the casts, charges, and expenses, including ~easonable lawye~'s iees, and cu~tc ut ~bstracts of title, incurred ot paid st~ny time bythe mostgagee.because of the [ailure on the pu~t of the murt;;aguc promptly and fully {~etfotm the agreements and covenants of said ~promissory note and this mo~t- guge, and ~aid costs, ch:ukes, s~nd exper.~es shall be imn~ediately due and pa~~able and shal! Ne secured by the licn of th~s mo~tgagc. i. 'I'hat he will keep the improvements noK existing or hereatter erected on the moKgaged property. insured as may be requi~ed fcom time to time by~ the mortgagee againsl lass by fire and other hazards. casualties, artd contin- gencies in ~ucii amouats and for surh periods as may be required by mortgagee, and wiU pay p~omptly. when due. an~ premiums on such insurance (or paymeM of which Pcovision has not been made hereinbeEore. All insurance shall be carried in companies approved by mortgagee nnd the policies and renewals the~eof shafl be held by mort- g~gcr ~nd ha~•e attached thereto loss payable cl~uses in [avor of and in form acceptable to the mortgagee. ln e~~rnt o( lo.~s he w~ll gi~e immediate notice by mai! to` moctgagee, and mortgagee may make proof of loss it ~ot made prumptly b~• mortgagor. and each insurance company concerned is hereby authorized and directed to make payment for such loss dicectly to mortgagee instead o[ to mortgagoc and mwtgagee jointly. and the insu~ence p~o- ceeds, or any part thereof, may be applied by moitg:~gee at its option either to the reduction o( the indebtedness hereby ~ecuced or to the rectoration or repair of the prope~ty damaged. In event of toreclosure of this mortRage o~ other transter oi title to the mortgaged property in extinguishment o( the indebtedness secured hereby, all right, title, and iote~est of the mortgagor i~ and to any insurance policies Ihen in (orce shall pass to thr purchase~ oc grantee. _ ~ 8. That the mortgagee may, at any time pending a suit upo~ this mortgage, apply to the couct having jurisdic- tion thereof for the appointment of a receiver, and such coud shall forthwith appoint a receiver oE the premises cuveced hereby all and singular. including all and singular the income. pro[its, issues. and ceve~ues f~om whHtever source derived, each and eve~y of which, it being expressly understood, is hereby mortg,eged as if speciEically set ~ fo~th and described in the gcanting and habendum clauses hereot, and such receiver shall liave all the broad and . effecti~•e functions and povirers in anywise entrusted by a court to a receiver. and such appoint:nent shall be made b~• such court as an admitted equity and a matter ot absolute right to said mottgagee, and without ceEerence to the adequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency oE said mortgagor ; ~~r the defeadents, and that such rents, p~ofits, income, issues, and tevenues shall be applied by such receiver s according tu the lien of this mactgage and the practice of such court. In the event oE an~ default on the part of the = mortgagor hereunder, the mortgagor agrres 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 oE the twelve monthly install- ~ ments payable in the then current year plus the actuaf arnount of the annual taxes, assessments, water rates, and insurance premiums for such year not covered by the aforesaid monthly payments. 9_ That (u! in the event of any bceach of this mortgage or default on the part of the mortgagor, or (b~ in the ~ e~•ent that any of said sums of money herein referred to be not promptly an~+ fully paid without demand or notice, ur in the e~~ent that each and every the stipulations, agreements, conditions. and covenants of said note and this mortgage, are not dul~, promptly, and fully per[ormed; 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 hereby. shali become due and payable forthxith, or thereafter, a! the oQtion of said e~atgagee. ss fully end com- _ pletely as if all a` the said sums of money were originally stipulated tu be paid on such day. anything in said ~ note or in this mortgage to the contrary notwithstanding; and thereupon or thereafter. at the option of said matga- z gee, without notice or demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby ha~ ` ~ 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 partial foreclosure of this moctgage, the mortgaged premises shall be sold subject to the con- tinuing lien of this mortgage foc the amount of the debt not then due and anpaid. In such case the provisions of this paragraph may again be availed of~thereafter from time to time by the mortgagee. 10. That the mortgagw will give immediate notice by mail to the mortgagee of any conveyance, transfer, or change of oanership of the premises. I1. That no waiver of any covenant herein or oE the obligation secured hereby shall at any time thereafter be held to be a waiver of the terms hsree~i or of the note secucec~ heceby. 12. That it the mortgagor default in any of the covenants or agreements contained herein, ot in said note, then ' the mortgagee may perform the same, and all expenditu~es (including reasonable attarney's fees) made by ihe _ moctgagee in so doing shall draw interest at the rate set forth-in the note secured hereby, s~ shail be repayable immediately and withc+ut demand by the modgagor to the mortgagee, and, together with interest and costs accruing : thereon, shall be serured by this mortgage. _ 13. that the mailing of a written notice or demandaddressed to the owner of record uf the mortgaged prrmises, 1?or directed to the said owner at the last address actudlly furnished to the mortgagee, or directed to said owner at said mortgaged prer~ises, and mailed by the United States mails, shail be sufficient notice and demand in any case arising undgr this instrument and required by the provisions hereof or by taw. 14_ The mortgagor further covenants that should this modgage and the note secured hereby not be eligible for insurance under the National Housing Act within ~~YS from the date hereof (wcitten statecaent ~ of an~- ofEicer of the Depart~r,ent of Housing and Urban Development or authorized agent of the Secretary o[ Hous- ~ ing and Urban Development dated subsequent to~ the 30 Q~YS time from the date of this mortgage, ~ d.~1ie-W'~ .ta ir~,sju~e,~id.nate,ar~d tbi~ mortgagr, being deem~>d cooclusive ptoof of such ineligibili~~, th~ q~ortga- _ gee or th-e~hol~er o~~tlie note may, at its option, declare all sums secured hereby immediately 8uc and payable. The covenants herein contained shalf bind, and the benefits and advantages shal! inure to, the respective - heirs._executors, administrators, successors, and assigns of the parties hereto. Whenever used, the singular num- € ber shall ~ncieide the plural, the plural the singular, and the use of any gender shall include ali genders. - ~ - ~ ~ E ~ooK 193 115 ~ . . . . • _ - _ _'~.,~___...R..~.-~-.~ . _ _