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Home My WebLink About0739 5. Th.~t h~ vr~li {x•rm~t, r~~mmil, ot su[fer no waste. ~mpaume~t, uc dete?ivr.+t~c?n ot sa~d p~u~K~tti• ur .:ny (u~~l th~•rrof; ~~nd m the ~•~~~•n: uf thr [;ulu~r th~ mu~+.~.~Rot to kePp the bu~ldings on ~.ud prem~ses uro! Ihuse t~?be enY•I~d on se+~d prem~~r~, ot ~mptu~•rm~•nts tMn•un, ~n good ~c~~:iit, the mud~aRec m:~y mak~• ~uch rt•p~i~+ as io ~t~ d~~cret~an ~t ma~• dcrm neceti.ar~• (a thr pto{x•t p~esetv:it~on lhereof, .~nd the (uU amuunl of each and ~very wch pa~~mi•nt ~haU be immed~atrly duc und Fx~~•abl~, and ~hall t?e secuced bv the I~cn o( th~s ma~tg.~ge. b 1'li:~! he v?il1 .~Il :+nd singuit+t the ru~ts, cht~tgel, und expenses, inctud~nK re:,~.,n.~ble lawyrt'v ter~, an~i co.t~ uf ab~tnu•tti o( titlr, mcut~t~d o~ paid st any t~me b~•the moriKage~.becaute o[ the (a~lurr on the p:+rt o[ thr murtg:~~~u promptly :md fully to pe~f~m !hr ag~hcm(Ots and covena~ts o( sa~d promissory nute and th~s mu~t KaKe•, und said costc, clu+tge~, aod c~xFx n~e~ shall be immediate~lV du~ und p:+y,~blr .~nd `hall be s~curecl by lh~~ - li~•n .~1 thi~ murl~;aK~r. . i. That h~• ~ill kerp thc ~mp~ovements now,eX~Fting o~ herey6te~ e~ected un ihe mortgaged propctty, insured as m:+~~ bc~ requ~red from time tu t~me~ b~• the mwtg:~gre aguin~l loss by (ire and other hs~zards, casualtirs, and cont~n- ~;enct~s ~n ~uch amuunt~ and for such periocl~ ~s may be tequ~red by mortgagee, and w~ll pa~~ ptomptl~, when due, ,+n~• prem~ums on ~uch ~nsuranre for µ+~~mrnt of wh~ch prov~sion has nat bee~ made hercinbefore. All ense~ance shall be carried cump:+n~e~ .~ppe~•~•rd by ~nortgagee c~nd the policis~ acid renewals thr~euf sh.~il br held by mort- K.~Re~a .~nd h:~re att;+che•d ihemtu lus~ ~ui~•abt~- clause•s tn (avo~ of ~~nd io tu~m acceptable to the mortgagrc. In ~•~~~~nt of lu.s he ~cill Ki~•e ~n:me•diadr noUce by mail to murtgaKee, and mo~tga~e~• mHy make proof af loss i( not made• prumF~ttc h}• martgagor, and C:11'FI ins~tance~ cumµ+np conci~rned is hrreb~• auihorized und d~rected to make p:~~~mcnt fur .uch loss directly to mortgakee instead of to mort~agor and morigagee joioUy, and the insurance pro- ceeds, o~ an~• Eu+rt thereof, may be applied b~ mortg.igee at its optton either to the reduction o( the indeblednes~ he~eH~~ cecur~d or to the ~esloration ut repair o[ the property damaged. In ev~•~t o( toreclosute o[ this morigage w uthrr trz+nsfer of title to Ihe mortgaged propertp in extinguishment ot the indebtedness secured hereby, al! right. title, snd intere~t o[ thc~ mortgagot in rand to :in~• ios~rance poficie~ then i!i fo~ce ~hall pass to the Ru~chaser cx . Kr:~~tee. 8. That the murtg:~gee may, at any time pending a suit upon~th~s mortgage, apply to the court ha~•ing jurisdic- tion thered fuc the appo~ntment a[ a~eceiver, and such court shall forthwith appoint a receive~ o( the premises co.•eced hereby all and singular, includin~ all and singular the income, profits, issues, and revenues from whate~er .ource deri~~ed, e•ach and every of which, it being exptessl~• understood, is hereby mo~tgaged~as it specifically set i~.rth and described in the gcanting and habendum claus~s hereof, and such receiver shall haire all the broad and eff,ct~~•e funct~ons and poK•~rs in an~~wise entrusted by a court to a receiver, and such appo~ntment shall be made b~• such rourt a~ an adm~ttc~ equity and a matter of absolute right to said mortgagee, a~d without re(erence to the .+dequac}' uc ~nadsquacy of :he ~•alue of the propecty mortgaged or to the solvency or insolvency of said mortgagor or the defendent~, and that such rents, profits, income, issues, and cevenues shall be applied by such recei~er ~+ccotdinK to the l~en of this mortgage and the practice of such court. In the event of an; default on the part oE the murtgagor hereiinder, the mortgagor agrees to pay to the mortgagee on demand as a ceasonable monthly rental for the premises an amount at least equivalent to one-tweiEth (1/12) of the aggregate of the twelve monthlyinstall- ments pa~•abie in the then current y~ear plus the actual amount of the annual taxes, assessments, water rate~, and ~nsurance premiums for such year not covered by the aforesaid monthly payments. 9. That -.t ~ in the e~•ent cf any breach of this mortgage or defautt on the part of the mortgagor, or ; i,/ in the e~•ent that am• of _said sums of money herein referred to be not promptly and fully paid without det~and or notice, ~ or - in the e~•ent that each and eeery the stipulations, agreements, conditions. and covenants of said note and th~. m~rtgaKe. are n~t dul~~, pcomptly, and fully performed; then in either or any such event, the said aggregate sun ment~oned ~n said note then remaining unpaid, with interest accrued to that time, and all moneys secured ' hereby, shali berome due and pa~•abte forthwith, or thereafter, at the option of said mortgagee, as Eully and com- ~ pletel~ as if ail of the said sums oE money were originally stipulated to be paid on such day, anything in said ~ note or in this mortgage to the contrary notwithstanding; and there~pon or thereafter, at the option of said mortga- gee, w ithout notice or demand, suit at IaK or in equity, may be prosecuted as if all moneys secured hereby had rratured prior to its institution. The mortgagee ma~ 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 mortgage, the morigaged premises shall be sold subject to the ~on- t~nuing lien of this mortgage for the amount of the debt not then due and unpaid. In such case the provisions of ?h~s paragraph ma~• again be availed of thereaiter from time to time by the mortgagee. 10. That the mortgagor v?i!! gi~~~ immediate notice by maii to tfie mortgagee of any conveyance, transfer, or . ~ change of ownership o( the premises. 11 . That no u•ai~~er of any covenant herein or of the ubligation secured hereby shall at any time thereafter be held to be a wai~•er of the terms hereof or of the note secured hereby. 12. That if the mortgaga default in an>> of the covenants or agreements contained here~n, or in said note, then ?he mortgagee ma}• perform the same, and all expenditu~es (includ~ng teasonable attorney's fees) made by the• Tortgagee in co doing shall draw interes: at the rate set forth in the nate secured hereby, and shall be repayable iTmed~ately and w•~thout dEmand b~~ the mortgagor to the mortgagee, and, together veith interest and costs accruing ~hereon, shall be secured by th~s mortgage. _ 13. that the mailing o[ a written notice~r demandaddressed to the owner ot record ot the mortgaged premises, ~r d~rected to tne sa~d owner at the last address actually furnished to the mortgagee, or directed to saidowner at tia~d mortgaqed premises, and mailed by the Ur.ited States mails, shall be sufEicient notice and demand in an}~ case ans~ng vnder th~s instrument and required by the provisions hereof or by law. - la. The rnortgagor further covenants that should this mortgage and the note secured hereby not be eligibie = ior insurance under the Nationa! Ncx~sing Act within .3Q ~YS from the date hereof (written statement ~f e:~} ofticer of the Department o( F~ouseng end Urban Devejo,pment or authorized ~ent.~~he Secrety~N•of:Nous- ing and tirban Devetopment dated subsequent to the 3Q`. ~YS time 4from the date,of this mortgage, decl~ni~~g to insure,said note and this mortgag~. being dsem•rd conclusive proof of,such inelig~Sility), the mortga- gee cx the hoider of the note may, at ~ts option, declare all sums securdd hereby immediately due and payeble. The cdt+~fiants herein conta~n:~d sF.all bind, and the benefits and ad~~antages shall inure tu, the respecttve he:rs, exec?:tors. admin~strators, successors, and assigns of the parties heretv. N'henever used, the singulat num- ~er sha:i ~nclude the plural, the plura! the s~ngular, and the use of any gender shall tnciudr aU genders_ BOQK ~~J ~ W . ; _ _ , -