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Home My WebLink About0178 , - . ~ : • ' . S. Thxt he will ~?ermit. cummit, o~ sufEe~ no wasle, impai~ment, or dete~io~ation ot said p~o~~iy or any~part the~eof; and in the e~~ent o[ the fait~ue o[ the mortgagor ta keep the buildings on saic; p~emise~ a~d those tobe erected an said pcemises, or impro~•ement~ thereon, in good repair, the mottgagee may make such ~epaits as i~ its disc~etion it may deem necess:~ry (or the prupe~ presc:~ation theceo[, and the full amount of exch and eve~y such pa~•ment shull be immediately due and pa~~abte, an~ shall be secu~ed by the lieo c[ this mo~tgage. 6 That he will pa~~ all and singular the costs, cheiges. and expenses, incl.?di~g ~easunable lew~c•~'s fees, and cust~ of abstracts ot title, incurred or paid at any time bythe mortgagee.becs~use of the failure on the puct of ;h!' IitO~tgNgO~ promptly and tully to per(orm the a~reements and coveaants of said ~promissory note and this mort- gagr, and ~aid costs. charges, and expenses shal! be immediately due artd payable and shall be secured by Ihe lien of ihis mortgage. - 7. That he w ill keep the improvements now existing or herea[ter e~erted on the mortgaged property, insured as may be required [rom time to time b~• the m~cgagee against loss b~ fire and other hazards, casualties. and contin- gencies in such amounts a~d [or stich periods as may be required by mottgagee. and will pay promptly, when due. anj• premiums on such insurance for peyment of which provision has not been made hereinbetc+re. Ali insurance s!~all be car~ied ir~ compa~~es app~oved by mortgagee and the poticies and renewals the~eof shall be held by mort- gagee and have attached theretu toss- payable clauses in f~vor ut and in fo::n ~ZCe~tahle t~ itie mortgagee. ln e~•ent of loss he Kill gi~~e immediate notice by mail to mottgagee, and moctgagee may make proof of loss if not _ made promptly b~ mortgagor, and each insurance company concerned is hereby authorized and directed to make payR:ent for such loss dicectly to mortgagee instesd ot to matgaga and moctgagee jointly. er~d the insucence pro- ceeds, o~ eny part thereof, rteay be applied by mortgagee at its option eithe~ to the reduction ot the indebledness he~eb~ secured or to the restoration or repair of the p~cspe~ty damaged. ln eve~t af foreclosure of this mwtgage or other transfer of title to the mortgaged property in extinguishme~t of the indebtedness secured hereby. all right, title, a~d int~ re~t of the mortgagot in snd to any insurance policies then in fwce shell pass to the purchaser o~ g~~ntee. : 8. Thnt the mortgagee may. at any time pending a sui! u{ron this mortgage, apply to the court having ~urisdic- tion thereof for the appointment of a receiver, and such court shall fotthwith appoiat a receiver of the pcemises co~~ered hereby all a~d singular. inctuding all and singular the income. profits, issues. and cevenues from whatever ~ource-cie~i~ed, each and e~ery of which, it being expressly understood, is hereby mortgaged as if specifically set forth and drscribed in the g~anting and habe~dum clauses he~eof, and such receiver shall have all the btoad and effecti~•e funcci~ns and powers in anywise entrusted by a court to a receiver, and such appointment shall be made - b~• such court as an admitted equity and a matter ot absotute right to said mortgagee, and witho~t reference to the :idequac~ or inadequacy of the value oE the property mortgaged or to the solvency or insolvency of said rt:ortgagor ar the defendents, and that such rents, prc~[its, income, issues, and revenues shall be applied by such receiver according to the lien af this mortgage and the pcsctice of such court. !n the event of any default on fhe part of ihe - TOfIQ~AgUt hereunder, the mortgagot agrees to pay to the mortgagee on demand as a reasortable monthly rental for the premises an amount at least eqpi~alent to one-twelEth'(1 ~12) of the aggregate of the twelve monthly install- r+ents pa~~able in the then current year plus the actual amount of the annual taxes, assessments, water rates, and :nsur3nce psersiu^ss for sueh year not covered b~~ the aforesaid r~onthly gayments_ - - 9. That i~ i in the event ot any breach af this mo~tgaga or default on the part of the mortgagor, or /b/ in the ~ e~•ent that an~• of said sums o-f money hereia referred to be not promptly and fully paid without demand or notice. ~ or ~ in the event that each end every the stipulations, agreements, conditions. and covenants of said note and th~s mortgage, are not duly, promptly, and full~ per[ormed; then in either or any such e~ent, the said aggregate ~ sum mentioned in said note then remaining unpaid, with interest accrued to that time, and all moneys secured ` herrb}-, shall become due and payable forthwith, or thereafter, at the option ot said mortgagee, as fully and com- z pletel~• as if all of the said ~ums of owney were originally stipulated to be paid on such day, anything in $aid - note or in this mortgage to the contr~ry notwithstanding; and thereupon or thereqtter, at the option of said matga- gee, veethout notice or demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had - ~ matuted prioc-to-i s institution. The mortgagee may foreclose this mortgage, as to the amount so declared due and ~ payable, and the $aid premises.shall be sold to satisfy and pay the same together with costs, expenses,and aiiow- ~ ances. ln case of partial foreclosure of this mortgsge, the mortgaged premises shall 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 thereaf:er from time to time by the mortgagee. 10. Thai the mortgagor wilt gi~•e immediate notice by mail to the mortgagee of any conveyance, transfer, or change of ov~nership of the premises. 11. That no waiver of any co~~enant herein or of the obligation secuted hereby shali at any time thereafter be neld tc be a x•ai~~er cf the terms hereof or of the note secured hereby_ 12. That if the mortgagor default in any of the covenants or agreements contained herein, or in said note, then the mortgagee ma} perform the same, and all expenditutes (including reasonable attocney's fees) made by the mortgagee in co doing shail draw interest at the rate set fath in the note securec! hereby. and shall be repayable :mmediatel~ and w~ithout demand by the mottgagor to the mortgagee, and, together with interest and costs accruing thereon, shall be secured by~ this :nortgage. 13. that the mailing of a written notice or demandaddressed to the ownet oE record of the mortgaged premises, : er directed to the said owner at the last address actually furnished to the mortgagee, or directed to said owner at said mortgaged premises, and mailed by the United States mails, shall be sufficient notice and demand ir~ any case arising under this insttument 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 _ for insurancP under the National Housing Aci within from the date hereof (written statement t uf an}~ oEficer of the Department of Housing and Urban Development or authorized ~gent of the Secretary of Hous- ~ ing and (~rba~ Developa~~ent dated subser,uent !o the time from the date of this mortgage, declining td`St!sure sald'n~~~~tid this mortgage, ~n~ deem•_ con nsive•proo'I~eif~tdch ~xli`1biS+t~tyh twe rdtYtgt~+-: ~ gee or the holder of the note may, at its option, declare all sums secured hereby immediately due and payable. ~ The covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective heirs, executors, adminisirators, successws, and assigns oE the parties hereto. whenever used, the singular r.um- ber shall include the plural, the plural the singular, and the use of eny gender shall include all genders. F f ~ - ~ 8~ 193 1?8 ~ -