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Home My WebLink About0431 . 4. That he will pay all texes. essessments. water retes. end other governmental or municipal charges. fines. _ or impositioc~s, (oc which provision has not been roade herei~beEae~ e~d in default the~eoi the mortgagee mey pey the seme; and that he will promptly deliver the ofEiciel re~ipts thecefor to the mortgagee. 5. That he will pecmit. commit. ot sufter no waste. impairment. or deterioretion of said property or any pad thercof; end in the event of the failure of the mortgegor to keep the buildings on seid premises and those tobe erected on said premises. or improvements thereon. in ~ood repair, the mo~tgagee may meke such repairs as in its discretion it may deem necessacy fo~ the proper presecvatio~ thereof. and the full amount of each and every such peyme~t shall be immediately due and peyable, and shall be secured by the lien of this mortgage. 6. That he will pey all and singular the costs. charges. end expenses. inciuding ~easonable lawyer's fees. and costs oE ebstracts of title, incurred or paid at any time by the moctgagee because of the failure on the pert of the mortgagot promptly and fully to perfocm the agreements end covenants of said promissory note and this mort- gage, and said costs, charges, end expenses shall be immedietely due end payable end shall be secured by the ~ lien uf this mortgage. 7. That he will keep the improvements now existing oc hereafter ecected on the mo~tg,aged property. insured as may be required Erom time to time by the mottgagee ageinst loss by fire and other hazards. casuelties. end contin- gencies in such amounts and or such periods as may be required by mortgagee, and aill pay promptly. whe~ due. any premiurt~s on such insurance for payment of which provision has not been made hereinbefore. All insutance shall be cacried in compa~ies approved by mortgagee end the policies and ~enewals thereof shall be held by mo~t- gagee and have attached theceto loss peyable clauses in favor oE and in form acceptable to the mortgegee. ln event of loss he will give immediate. notice by mail to mortgagee, and mortgegee may make proof of loss if not made promptly by mortgegot, and each insurance company concecned is heceby authorized and directed to make payment for such loss ditectly to mortgagee instead oE to moctgagor and mwtgagee jointly. and the insurance pro- ceeds, or any part thereof. may be applied by matgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or cepeir of the property damaged. In event of foreclosure of this mortgage or othe~ transfer of title to the moctgaged property in extinguishment of the indebtedness secured hereby, all right, titie, and interest of the mortgagor in and to any insurance policies then in force shall pess to the purchaser oc grantee. 8. That the modgagee may, at any time pending a suit upon this moctgage, apply to the court having jurisdic- tion thereof for the appointment of a receiver, and such court shali fodhwith appoint a receiver of 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 mortgaged a~ if specifically set forth end described in the granting and habendum clauses hereof, and such receiver shall have all the btoed a~d effective functions and powers in anywise entrusted by a court to a receiver, and such appointment shall be made by such court as an admitted equity and a matter of absolute right to said modgagee, and aithout refecence to the adequacy or inadequacy of the value of the propedy mortgaged or to the solvency or insolvency of said mortgagor ur the defendents, and that such rents, profits, income. issues, and revenues shall be applied by such receiver according to the lien of this mortgage and the practice of such coud. In the event of any default on the part oE the mortgagor he~eunder, the mortgagor agrees to pay to the mortgagee on demand as a reasonabte monthty rental [or the premises an amount at least equivalent to one-twelfth (1/12) of the aggregate of the twelve monthly install- ments payable in the then curcent year plus the actual amount of the annual taxes, assessments, water rates, and insurance premiums for such year not covered by the aforesaid monthly payments. 9. That / in the event of any breach of this mo~tgage or default on the part of the modgagor, or (b1 in the event that any of said sums of money herein referred to be not promptly and fully paid without demand or notice. or {~J in the event that each and every the stipulations. agreements. conditions, and covenents of said note and this mortgage, are not duly, promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned in said noEe then remaining unpaid, with interest accrued to that time, and all moneys secured hereby, shall become due and payable forthwith, or thereafter, at the option of said mortgagee, as fully and com- pletely as if all of the said sums of money were originally stipulated to he paid on such day, anything in said ` note or in this modgage to the contrary notwithstanding; and thereupon or thereafter, at the option oE said mortga- i gee, without notice or demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had ~ matured prior to its institution. The mortba~ee may foreclose this mortgage, as to the amount so declared due and ; payable, and the said premises sh'all be sold to satisfy and pay the same together with costs, expenses,and allow- ¢ ances. ln 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 then du~a and unpafd. ln such case the provisions oE ~ this paragraph may again be availed oE thereafter from time to time by the modgagee. ~ 10. That the mortgagor will give immediate notice by mail to the mortgagee of any conveyance, transfer, or change of avnership of the premises. 11. That no waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the note secured hereby. 12. That if the mortgagor default in any of the covenants oc agreements contained herein, or in said note, then the mortgagee may pedorm the same, and all expenditures (including reasonable attaney's fees) made by the mortgagee in so doing shall draw interest at the rate set focth in the note secured hereby, and shall be repayable immediately and without demand by the modgaga to the modgagee, and, together with interest and costs accruing ; ~ thereon, shall be secured by this mortgage. • t 13. that the mailing of a written notice or demand addressed to the owner of record of the mortgaged premises, or directed to the said owner at the last address actually furnished to the mortgagee, or directed to said awner at said mortgaged premises, and mailed by the United States mails, shall be sufficient notice and demand in any ~ case arising under this instrument and required by the provisions hereof or by taw. ~M~ • The mortgagor furthet covenants that shoultnthis age and the note: securcd,~te~eby nptj-~be eligible for insurance under the National Housing Act within ~~r~1 from the date hereof~(written statement ~ of any officer of the Depactment of Housing and Urban Development or authorized agent of the Secretary of Nous- ~ ing and Urban Development dated subsequent to the ~~Y$ time from the dete of this modgage, ~ deciining to insure said note and this mortgage, being deeax~d conclusive proof of such ineligibility),-the mortga- gee ar the holder of the note may, at its option, declare all sums secured hereby immediately due and payeble. The covenants herein contained shall bind, and the benefits and advantages shell inure to~ the respective heirs, executors, administratocs, successors. and assigns d the padies hereto. Whenever used, the singular num- ber shall inclnde the plural, the plural the singular, and the use of any gender shelt include all genders. g ~ s r ~ ~ ~ ~~~1~5 ~A~E 431 ~ J~ . • . - . . • r ' r_~ -