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Home My WebLink About1893 ~ F3 7C i# 4 4. That he will pay all taxes, assessments. water rates~ a~d dher governmental oc municipal charges. [ines, oc impositions, for which provision has not been made hereinbefae. artd in default thereot the mo~tgagee may pey ~ the same; and that he will promptly deliver the o(ficiet reCelpts theretor to the mortgagee. 5. That he will permit, commit, ot suffer no waste~ impairment. ur deterioration of said property or any patt thereof; and in the eve~t ot the failure of the mortgagor to kcep the buildings on said premises and those tobe erected oo said premises, oc improvements thereon, in good repair. the modgagee may make such repeirs as i~ its discretion it may deem necessary tor the p~opec preservation thereo[, and the full amount of each and evety such payment shall be immediately due and peyable. and shell be secured by the lien of this mottgege. 6. That he will pay all and singuler the casts, charges, and expenses. including teasoneble lawyer's fees. and casts of abstracts of title, incurred or paid at any time by lhe modgagee because of the failure on the part of the mortgagor promptly and fully to perfo~m the agreements end covenants of said promissory ~ote and this mott- ~ gage, and said costs, charges, and expenses shall be immediately due and payeble and shall be secured by the lien of this mo~tgege. ~ 7. That he wil! keep the improvements now existing ot hereafter erected o~ the mortgaged propetty~ insured as ~ may be required from time to time by the mortgagee against toss by fire and other hazards, cesualties~ and contin- gencies in soch amounts and far such periods as may be required by mortgagee, and will pay promptly, when due, any p~emiums on such insurance for payment of which provision has ~e4,been made hereinbefoce. All insurance _ shall be carried in companies approved by mortgagee and the policies and renewals thereof shall be held by moct- gagee and have attached thereto loss payable clauses in favor of and in form acceptable to the mottgagee. In event o[ loss he wili give immediate notice by mail to mo~tgagee. and mortgagee may make proof of loss if not made promptly by mortgagor, and each insurance company concerned is hereby authorized and directed to make payment Eor such loss dicectly to mortgagee instead of to mortgagor and mortgegee jointly, and the insurance pro- ceeds. or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage or other transfer oE title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title, and interest of the mortgaga in and to any insurance policies then in force shall pass to the purchaser or grantee. 8. That the rteongagee may, at a~y time pending a suit upon this mortgage, apply to the court having jurisdic- tion thereof for the appointment of a receiver, and such court shall fodhwith appoiot a receiver of the pcemises ~ covered hereby all and singular, including all aad singular the income, profits, issues~ and revenues from whatever source derived, each and every of which, it being expcessly understood, is hereby mortgaged as if specifically set [orth and described in the granting and hebendum clauses hereof, and such receiver shall have all the broad and 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 mortgagee. and without refecence to the adequacy or inadequacy ot 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 revenues shalt be applied by such receiver according to the lien of this mortgage and the practice of such court. In the event of any default on the part of the mortgagor hereunder, the mortgagor agrees 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 of the twelve monthly install- ~ ments payable in the then current 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_ 1'hat (01 in the event of any breach of this modgage or default on the pad of the mortgagor, or (6) 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 covenants 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' note then remaining unpaid, with interest accrued to that time, and all moneys secured heceby, 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 be paid on such day, anything in said ; note or in this mortgage to the contrary notwithstanding; and thereupon Qr jhereafte~, at'the option oE Said mprtga- ~ gee, without notice or demand, suit at law or in equity, may be prosec~ted as if all moneys secured hereby had ' ~ matured prior to its institution. The modgagee may foreclose this mortgage, as to the amount so declared due and { s payable, 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 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 thereafter from time to time by the mortgagee. 10. That the mortgagor will give immediate notice by mail to the mortgagee of any conveyance, transfer, a change of ownership 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 mortgaga default in any of the covenants or agreements contained herein, or 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 interest at the rate set forth in the note secured hereby, and shall be repayable • immediately and v?ithout demand by the mortgagor to the mortgagee, and, together with interest and costs accruing theceon, shall be secured by this mortgage. i 13. that the mailing of a written notice a 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 aivaer at said mortgaged premises, and mailed by the United States mails, shall be sufEicient notice and demand in any ~ case arising under this instrument and required by the provisions hereof or by law. ~ 14. The mortgagor further covenants that should this moctgage and the note secured hereby not be eligible t ~ for insurance under the National Nousing Act within ~ f~om the date hereof (written statement ~ of any officer of the Department of Housing and Urban Developinent or authorized agent of the Secretary of Hous- ~ ing and Urhan Development dated subsequent to the time Erom the date of this mortgage, j dectining to insure said note and this mortgage, being deem•~d cbn~usive proof of such ineligibility), the moctga- ~ gee or the holder d the note may, at its option, declare all sums secured hereby immediately due and payeble. ~ The covenants herein contained shell bind, and the benefits and advantages shall inure to, the respective ~ heirs, executors, administrators, successors, and assigns of the parties hereto. Whenever used, the singular nurn- ber shall include the plural, the plural the singular, end the use of eny gender shall include all genders~. _ ' . • ' ' " ' . aoa~1~5 Pt,:-~~~i. - - - ~ u.~~