The URL can be used to link to this page

Home My WebLink About2192 That tie «•~ll p~•tmit, cun:mit, or suflc~'NO ~easte, ~mpaitmrnt, or ~letenur~ttun ot sa~d ptc~Fkrt} ur .~n~ p;~rt th~•r~•~~f, and in thr r~•ent of the f;+iliire ~rf thc~ murt~;aKor tu keep thc~ hu~ldtnks on sa~d prc~misc~s and !hose tobe e~r~•cird on said prrmisr~, ot imp~u~~c•ments therc~u~, in ~ue~d rep,~u, th~~ mort~;,~Kee• ~na~~ make such re{k+irs a~ in its discrrt~on it may deem nec~~tisa:~• far the proper presrr~at~un thrre•.~f. ,~nd the fulf a~mount uf each and e~~er~• surh pa~nu~nt shall be ~mmedr.+tel~~ due and p<+~•abte, .+n~± shall be securrd b~ the lien of th~ti murtg~iRe. f~ Th.+t he ti•ili p:~~• aU .~nd ~~n~;~l.+r the custs, ch~rKes, and expenses, includ~ng reasonabie l~w~•er's teel, .~nd cc~.ts ~~f abstract~ oi title. incurred or paid at any time b~•the mortR,~geebecause of the failure on the part oE tha~ mr~rt~;,~?;.~c prumptl~ and iullp to pc;rform the ~+~reements ~ind ca~•enants of said pramissory note and th~s mort K:~~;c•, .~nd s,,id custs, chcitgcs, .ind expc•nses shall be ~mmed~at~ 1~• due :~nd pat•able and shall be serured b~~ the lic•n of thi~ mort~;,iKe. That hc ~~~II krep the ~~npru~•rrnents noH ex~st~ng or hetra(ter erecte~l un the mortgaged property, insuted as R2ii~- bt requr.ed from t~me to time b~ the murtgc~kc~e :~ga~nst loss b~• fire and othet hazards, casualties, and contin- Rc•nc~a•s ~n ,uch ~imaunts and for such ~•n~s ~s m~+y be requ~red b~~ murtgagee, and will pay promptly, when due, am• prem~ums on such insueance far Qa~~mrnt of u~hich pravi~ion h;?s not been made hereinbefore. All ~nsurance ~h:~li be c-atried in cumpantes .ippro~ed b}- mortgaKee and the policies and reneu•~,Is thereof shall be he[d by mort- K~+~;ee ~+nd hc~~e attached therrta loss payable clauses in fa~•or of and in torm acreptable to the morigagec. !n ~~~~rat of l~s~ he w~l! K~~e ~mmedi,.te not~ce b~~ ma~l to moctgagee, and mortga~ee may make proof of loss i[ not madr prumpfl}~ b~~ mort~;uKor, and rach ~nsur:~ncc companq concrrned is he~eb~• authocized and dtrected to make p~~ rnent fe~r such luss directly to mortg~iKee ~nstead of to mortgagor and mortgagee }ointly, and the ~nsurance pru- ceeds, or anp part thereof, may be applied by mortKagee at its option either to the reduction of the ~ndebtedness he:eb~• secured ur to the restoration or repau o( the property damaged. ln event of loreclosure of this mortgage or 4 ~~ther transfrr of title to the mortgaged proprrty~ in ext~nguishment ot the ~ndebtedness secured hereb~•, all right, title, and ~ntere~t uf the mortgagcx in and to an~• insurance pol~cies then in force shall pass to the purchaser or Rrantee. S. That the mortgagee mal•, at an~• time pend~ng a suit upon this mortgage, apply ta the court having jurisdic- ~ ti~~n thereof for the appointment of a recei~•er, and such court shall fotthwith appoint a receiver of ihe premises ; ` cu~•ered hereb~• ail and singular, including all and singula~ the income, profit~, issues, and revenues from whate~~er ; ~uurce deri~•ed, each and ever~~ of w~huh, it be~ng expressl}• understood, is hereb}~ mortgaged as if specifically set " fc~rth and described in the grantin~ and habendum clauses hereot, and such receiver shall,have ail the braad and rife•rti~e funct~ons and pow•ers in an~u•ise entrusted b~~ a court to a rece~~~er, and such appointment shall be made h~ ~uch c~~urt as an admitted equ~ty and a matter of absolute reght to said moctgagee, and without reference to the ~ ;~dc•quac~ ~~r ~nadequac~• of the ~•alue of the propert_y mortgaged or to the solv~f~c~+ o~ insqiv,e9cy of ~a~d mortgagor '3 ur the deiendents, and that such rents, profits, income, issues, and revenues sha~l be ~ppfi~,by,such recei~~er .+ccurdinR to Ihe lien ot this mo~tgage and the practice of such court. In the event of any default on the part of the ~ ~~ortKagor hrreunder, the mortg:~gor agrees to pay to the mortgagee on demand as a reasonab~e m~TltMy rental for - ?h~• premises an amount ac least equi~~aient to one-twelfth (1 I2) of the aggregate of the twelve•monthlyinstal!- = r~rnts pat~ible ~n the then current year plus the actual amount of the annual tax~s, asse„SStpent~~ water rates, and ~nsurance prer~iums for such ~•ear not cocered by the aforesaid monthl~~ payments. _ Q. That in the e~•ent of any breach ot th~s mortgage ot default on the part of the mortgagor, or (l.l ~n the : t•~rnt that any of said surr:s of mone~• here~n referred to be ~iot promptl~• and fully paid without demand or notice. ~~r ; in the e~•ent that each and e~~e~}• che st?pulat~ons, dgreements, conditic~ns. and covenants of said note and = thi~ murtgage, are not duly, promptly~, and full~• pcrformed; then in either or anp such event, the said aggregate :um mentioned in said note then remain~ng unpaid, wrth interest accrued to that t~me, and all moneys secured - hereb~, shall becume due and pa~~able forthw~ith, or thereaEte~, at the option of said mortgagee, as fully and com- pietel~• es if all oE the said sum~ of monet~ uere otiginall}• stiputated to be paid on such day, anything in said note or ~n this mortKage to the cuntrar~• notwithstanding; ar.d thPr~cpon or thereafter, at the option o[ said mcxtga- ; Kee. w•ithout nohce or demand, suit at lau or in equit~~, ma~~ be prusecute~ as if all moneys secured hereby had matured pnor to its institut~on. The mortgagee may Eoreclose th~s mortgage, as to the amount so declared due and _ p<~~:~bie, and the said premises shall be sold to satisfy and pa}• the same together with costs, expenses,and allow- _ ~~nces. In case of partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con- tinuin~ lien of thts mortRage for the amount of the debt not then due and unpa~d. In such case the provisions of this pareKraph ma}~ again be ava?led of thereafter from time to time hy the mortgagee. - lil That the mortgagor w~ilt gi~e immedi~,te noti~e b}~ ma~l tu the mottgagee of any com•ey~ance, transfer, or change af civnersh~n of the premises. 11 Thai no waiver of any co~~enant hese~n or of the obGgation secured hereby shall at any time thereafter be _ hrid to be a w•aivec of the terms hereot or of the note secured hereby. 1'. That if the r~ortKagor default in an~• o( the co~~enants or agreements contained herein, or in sa~d note, then t'ie c.~rtKaKre rn~+~ perform the same, and all expenditu~es (~nclud~ng reasonable attorne}~'s fees) made b~• the ~-:~3rt~,:~~,ee~ ~n ~o ~:oing shafl draw iMerest at the rate set forth ~n the note secured hereb~-, and shall•be repa}~able !~•^~c~c?~at~•h and uithuut demand b~• the mortgaKur to the mar2gagee, and, together with interest and costs ac~ru~ng t}irrr~~n, 5hd1! be secured b} this mot2gage. ':3 13. that the r::aiIir~ of a urrtten nu;ice or demandaddressed to the ow-ner of rec~rd of the rnori~aged premises. ~>r directed t~ the s<>>d ow-ner at the ta~t address actuall}~ furnished to the martQagee, or directed ta saidowne~ at ~ ~.+~d ~~~rtgaged pcemises, and mailed bv the United Staies ma~is, shal! be sufficient notice and demand ~n any c:,se ansing under this ?nstrument and required by the pruv~s~ons hereof or by law. la The mortgag~r further covenants that should this mortgage and the note secured hereby not be eligibie f<~r in.~rance under !he ~Vational HousinR Act a~th~n DA~ frc~rn the date hereof (written statement - ~~f ~~Ef~cer of the Department of Huus~ng .ind Urban De~•eTopment or auth~rized agent of the Secretary ol Hcaus- inK .~nd Urban De~eivpment da.ed subsequent tv the [j~~:'S time from the date of this mortgage, = drelininR to insure sdid note and this mortgage, be~ng deem•~d cenclus~~e pr~f of such ~nel~gibil~t}•). the mortga- Kee cr the holder of the note mati, at ~ts option, declare al! sums secured hereby immedeately due and pay~+ble. l'hr co~~enants herein contained shal! bind, and the benefi.s and ad~•antages shall inure to, the respective heir., c~xe~cute~rs. ,+drr,intstratots, successurs, and ~~tisigns of the pai:ies hereto. N'hene~~er used, the singular num- i~:~r shall inr:ude the p!ural, thr~ plu:al the stnRu;at, and thc• use of am~ gender shall inctude all genders. ~o~~1y6 ~~2189 ~