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Home My WebLink About0924 ~ ' ~ i ~ That hN ~~•iil pc~rmit, c.~mmit, or suffet nu aa~ste, impairment, ot deterto~ation of sa~d propett~• or an~• p,~ri ~ ihrr~•.~f, .~nd ?n the e~ent of the (e~ilure c~f the mortg.igor to keet~ the buildinp~ on ~:~~d premi~rs and thuse tobe rr~•cted un said prem~se., or impru~•~•ments thercun, in goud repair, the mottgagr~ ma~~ make such rep:~~rs ~ti in ~tti d~scrrtwn ~t ma~• deem ntcetisar~ (or the proper presen~at~on thereoi, .~nd the tul! amount o( rach and r~~er~; ~uch p.,~ r.:rnt sh;~ll be ~mmrd~atrl~• dur ~nd pat•able. and shaU be secured b~• the I~en of this mort~aKe. fi That he H•ill all ~+nd singular the rust~, charges, and expen~es, includ~nK reasunable law~~~c~r's fc•e~, ::nd rast~ ol abstracts uf title, incurred or paid at an}~ time b}• the mortgagee .because ot the [a~lure on the part of the murtg~,Kur promptl~• and fully to pertorm the aKreements and co~~enants of said p~om~ssoty~ note and th~s mort- g~~~;r, ;+nd ti~id costs, ch~r~;rs, and erpentes shall be immed~atel~• due and p:+~•.~ble ~nd ~hall be srcured b~• the '.~e~n ~~f th,s t^ort~;;~Re. That he w•i!1 kra~p the ~m~jtovemrnts nua exist~ng uc heceafter erected on the mortRaged propert~~, insured as mat• be required from tlme to hme b~~ the mortKaKee against loss b~• fire and other hazards, casualt~es, and cont~n- kencies in such .~mounts ~+nd for such peri~~ds as m~y be requ~red by mortgagee, and w~l! pay promptly, when due, an~• premiums en such iasura.^.ce for pa~~ment of which pro~~ision has not been made hereinbefore. All ~nsurance sh:+ll be ~•arned ~n cumpan~es appro~~rd bt• mortgagee and the polic~es and renewals thereof shail be held bp mort- Ka~;t•e and ha~~e att.~ched thereto loss p.i}'able clauses in fa~•or of and in [orm acceptable to the mortKagee. ln c•~em uf luss he w~ll ~~~e immedi~ate notice b~• mail to mortgagee, and mortga~ee may make proof of loss if not r-tad~~ pr~mptl~• b~• mottgagot, and each ~nsurance compan~• concerned is hereby authorized and ditected to make Eh~~'r.irnl for such toss directl~• to mortKaKee instead uf to mortgagor and mortgagee jointly, and the insurance pco- creds, or ant• p.+rt thereof, ma}• be applied bp mortKagee at ~ts option either to the reduction oi the indebtednes~ hereb~• secured or to the restoration or repair of the propert}• damagc~cl. !n e~•ent o[ (oreclosvre of this mortgage or .>~her transier ot title to the mart~aged propert~• ~n ext~nguishment of the indebtedness secured hereby, aU nght. t~tlr, and inte~est of the mortgagor in and to an~• insurance policies then in force shall pass to the purchaser or , ~,rantee. ~ R. That the mortgagee may, at an~• time pending a suit upon this mortgage, appiy to the court having jurisdic- ~ t~on thereof fo~ the appointment of a recei~•er, and sunc ~ourt shall forthw~ith appoint a receiver of the prem~ses t cc~cered hereb~~ all and singular, inctuding all and singular the income, profits, issues, and revenues f~om whatever i ~~~urce denved, each and r~•er~• o! whicii, it be~ng espressl~~ understood, is hereby mortgaged as ~f specKically set ~ furth and described in the granttng and habendum c(auses hereof, and such rece~~•er shall ha~~e all the broad and effect~~•e functions and pou~ers in an~•wise entrusted by a court to a receiver, and such appoentment shall be made b~• such court as an admittrd eqwt}• and a matter of absolute rigi?i iu tia~~ mortgagee, and without reierence to the ? .+deauact~ or inadequ.+ct o! tne ~~alue of the propertt~ mortgaged qr to tfte sAlyenc~: or ~nsolvency of said mortgagor $ ~~r the drfendents, and that such rents, profits. ~ncome. ~ssues, and re~•enue's ha11 be applied bg such recei~•er ; :+cc~~rd~ng to the lien of th~s mort~age and the pract~ce ot such coud_ In the erew! of an~• default on ihe part of the ~ r.:urtKagor here~inder, the mot[t;a~ot agrees to pay to the mortgagee on demand as a reasonable monthiy rental tor x ~ tne premises an amount at least equ~~~alent to one-tw•elfth (1'12) of the aggregate of the twelve monthly~install- ~ r~entc pa~abie in 4he then current t•ear plus the ~ictual amount of~the annual taxes, assessments, w•ater rates, and ~ uz~urance prem~ums for ~uch year not co~~ered b~ the aforesaid monthly payments. ~ U. That in the e~~ent of an~• breach of thss mortgage or default on the pert of the mortgagor, or ~ in the ~ r:ent that am• of said sums ot money here~n referred to be not promptlY and fully paid without demand or notice, ~ ,~c !n the e~~rnt that each and e~•er~~ the stipulat~ons, agreements, cond~tions. and covenants of said note and ' ;his murtgage, are not dul~~, promptly, and fully performed, then ~n either or any such event, ihe sa~d aggregate ~ ~ ,uri mentioned ~n said note then rema~n~ng unpaid. w•~th ~nterest accrued to that time, and all moneys secured ~ hc•reb~. ~hail become due and pa~•able forthu~th, or thereafter, at the optton oi said mortgagee, as full}~ and com- ~ - ~ p;ete:~• as if all of the said sums of mone~• a~ere originall}• st~pulated to be paid on such da~•, an~~thing in sa?d i n.~te vr ~n this mc,rtgage to the contrart• notwithstanding; and thereupon or thereafter, at the option o~ said mortga- ; Krr~. with~~ut nat~cc• or demand, su~t at iaH or ~n equ~ty, ma~~ be prosecuted as it all moneys secured hereby had ` r-~,tured pnor tn its institution The mortg.~~ee ma~• forec(ose thts mortgage, as !o the anount so deciared due and ` pa~,+ble, and the ~aid premises shall be sotd to satisfy and pa~• the same together with costs, expenses,and allow•- .+ncec. ln c.~se of partial foreclosure ot this mortgage, the mortgaged premises shall be sold subject to the con- ' _ tinuin~ lien uf th~~ mortgage for the amount of the debt not then due and unpa~d. In such case the pro~-isions of ; this para~raph ma~ agat~ be ava~led of there:,fter from t~me to time by the mortgagee. ` ; 10. That the mottgagor u•~ll ~i~e tmmediate nutice b~~ mail to the mortgagee of ~n~~ com~eyanre, transEer, ur ~ ~ chanKe of ounershtp of the premises. r ' 11 That no u~ai~er of an~~ co~•enant heiein or of the obi~gation secured hereby shatt at an~~ time thereaftrr ba• - : ';rld t~~ be a wai~~er of the terms hereo( ar c~f the notr s;-cuted hereby. ~ " 1' That ~f the mortgagor default ~n an~~ o( the cocenants oc agreements cantained herF~n, or ~n satd note, then ~ f s; :i:~~ aioctK~.*ee mat- per#orm the same, and ali expend~tutes (includeng reasonable attorne}~'s fees) made by thr ~ r.:~,rt~:,k~ee ~n ~o do~ng shal! dr~,u• interest at the rate set fcxth ?n the nute secured hereb}~, and sha11 bp ce pa}~dble r~ i~~^~e~ir~teh an~i u•rthout demand b.• th~ mortKagot to the m~xtgagee, and, together w•tth ~nterest and costs accruing the•re~•.~~, shall be securrd bp th~s r.;ortgaKe. 1 3 that the r.•ai!inR ~~f a w•nttrn nat~ce ac dema~daddressed to the owner of record ot the mortKa~ed ptem~ses, _ ,~r :~~re~rteC t~~ the said uwner at the last address actuall~• furmshed to the mortgagee, ot directed to satdowner at _ :,.~d r,•c~tt~,aKed prem~ses, and m~~led bt thr l,'•n~ted States ma?ts, shall be suffic~ent nottce ~+nd drmand ~n any- : ~.~.t• a,~stinK undc~ this instrument and reqwred bp the pruvistons hereu! or bp lak. - IJ The mortgaKor further covenants that should ~}t~s mortgage and the note secured hereby not be el~g?ble _ t:~r ~nsur~ncr under the Nattonal NoustnK Act u•ith?n ~ ~A~ from the date hereof (wntten stater.ient _ :f .~n~ utficc r o[ the~ Uepartment of Hous?nK end Urban Qe~~elopment or authorized agrnt of tfie Secretary of Hous- = i,iK .ind Urban De~eIupment ~ated subsequent to the ~Q tj~~ time from the date of th~s rnortgage. _ cir~itinin~, to ~nsure said note and this murtg~ge, b~~ng deem•rd conclusi~•e proof of such ineLg~bil~ty), the mortga- K~e~ ur the~ holder of the note ma~, at ~ts option. dectare all sums secured hereby immediately~ due and pa~eble. € - 7he iocenent~ herein contdin~ shall bind, and the beneftts and advantages shall inure to, the respective ~ s' ~e:r~. ~~xrcutc~r~. adr.;~nistrators. successurs, and atisi~ns of the parties hereto. VI'henecer used, the s~ngular num- ~ h~•r ~n~l;~de thc plural. the piural the sinRular, and the use of am• gender shall ~nclude al! genders. ~ a~c 1~ rar~ ~