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Home My WebLink About0929 ~ ~ That ht~ ~~~ill prrmit, c~~mmit, o~ sut[et na wa~te, impaitment, or deteriorc+tion of sa~d proExrt~~ ar any part then•uf; and ~n thc c~~rnt af the f~~ili~re of the mortgaKo~ tu keep the build~ngs un ~aid premise~ and Ihose tobe ' ~~r~•rtrd un sa~d prem~ses, or lmpro~•a•ment~ the~con, ~n guad repai~, the mortKagee m~+~~ make such rep:~irs as ~n ~ts disrrrt~on ~t may deem nrct~s~ar~• for the proper presen•ation thereof, and the (ull amou~t of ea~ch and e~•e~~•,surh N~~~~mrnt shuil be ~mmed~.~tely d~e and ~~able, and shall be secured b}~ the lien of th~~ mottgage. b That he ~~•iU p:+~• all and sin~;ul~ir the casts, charges, and expenses, including reasunable law•yer'~ Eees, . .,nd cust~ uf abstracts of title, incurred or paid at any~ time b}~the mortgagee _because of the failure on the ~rt of tl~e m~~rtka~or promptt~• and Eull~~ !o perf~xm the agreements and co~~cnants o( said promissorp note artd this mort- ~~+Rr, .~nd s<+id co.tc, ch~+rges, and expenses ~hall be immediatel~~ due and pa~•able and shall be secure~c~ b~~ the !u•n ~~t thi~ mortK.~~e. That f~e w•ill ke~•p the impro~•cments nuu• ex~sting or hereafter erccted on the mortgaged propert~•, insured as ni.+~~ be requurd from time to time b~• the murigaKee aga~nst loss b~• fire and other hazards, casualttes, artd contin- cnc~c•s in such .imounts and ior such nods as ma~• be re u~red b mort a ee, and K~t11 rom tl when due, ~ R' Pe 9 g' ~ PaY P P 5'. um• prem~ur~s on such ~nsurunce !ot p:+~~ment oE which pro~~~sion has not been m~de hereinbefore_ AU insurance shall be ca~ried in comp.+n?r~ appraaed b~• :r.origagee and the policies and renew~als thereof shall be held by mort- ~,~Krc• and h.+~•e attached theretu luss payable claus~s ~n fa~~or of and in form acceptable to the mortgaRee. ln e~ent uf lu~s he w~ll gi~~e immediate notice bl• ma~l to mortgagee, and mortga~ee may make proof of lo~s it not ~ r.;:+cic• pr~rnptl~• b~~ murtgagor. and each ~nsurance compan~~ concerned is hereby authorized and dtrected to makr p:~~ mrnt for ~uch lu.s directly to mortgaKee ~nste~d of to mortgagor and mortgagee jointly, and the insurance pro- ceeds, or am~ part thereof, may be appl~ed b~• mortgagee at its option either to the reduction of the ~ndebtedness hr•rebv secured or to the restardtion or repair of the propetty damaged. ln e~•ent of foreclos~~re of this mottgage or uther transfer of title to the mortgaged property ~n extinguishment ot the indebtedness secured hereby. aii nght. t~tte, and ~ntere~t of the mortgagor in and to any insurance polic~es then in force shali pass to the purchaser cx Rr~ntec. K. Th:+t the mortgagee ma~•, at an}• time pending a suit upon this mortgage, apply to the court ha~~~ng jurisdic- t~on thereuf for the appointment of a rrce~~~er, and such court shall [orth~ith appoint a rece~~~et of the prem~se~ i cu~~ered hereb~• all and singular, is~cludink all and singular the income, pruf~t~, issues, and revenues from Hhate~•et ~ ~vurce deue~ed. each and e~•er~• o( w•hich. ~t be~ng expressly understood, is hereby mortgaged as i( spec~f ically~ set = farth and descnbed in the grant~ng and habendum clauses hereof, and such recei~~er shall have all the bruad and etiecti~•e funct?on~ and pow•ers in an~•W ise entrusted b~~ a court to a rec.eiver, and such appo~ntment shall be made b~~ such court as an admitted equ~tq and a matter of absolute r~ght to sa~d mortgag~e. and without ceference to the ~ .+deauac~~ lnadequ.~c~~ of the ~•alue of the property rnortgaged or to the solvency or insolvenc~• of~said mortgagor ~~r the d~~fendents, and that such rents, pro(its, income, issues, and revenues shall be applied by such receirer F .+ccurdin~ to the tien of th~s mortgage and the practice of such court. In the e~~ent of any detault on the part of the ~ ~ ^i~it~agor hereunder, thr mortgagor agrees to pay to the mortgagee on demand as a teasonahle monthl~• rental for ~ thc premiscs an amount at least equi~•alent to one-tWelEth (1 '12) of the aggregate oE the twelve monthl~• install- ~ ~^E-nts pa)~~+ble in the then current ~•ear plus the actual amau.tt of the annual taxes, assessments, water rates, and r ~~i~urance premiums fur such }•ear not co~~ered b~~ the aforesaid monthl~~ payments ~ ' That -~n the e~ ent of any~ breach of this mortKage or default on the part of the mortgagor. ot (G ) in the I E~~ent that an~• o( sa~d sumc of mone~~ herein referred to be not promptly and Eully patd ~•ithout demand or notice, ; ~~r in the e~•ent that t•ach and every ihe st~pulations, agreements, cond~tions. and co~~endnts of said note and thi~ martgage, are not dul}•, promptl}•. and fuil~~ pertormed, then in either or any such event, the said aggregate ` .urr~ r.;rntloned en sa~d note then remain~ng unpaid. with interest accrued to that time, and all moneys secured i hereh~, shall become due anc? pa~•able fucth~~th, or ihereafter, at the option of satd mortgagee, as full~• and cum- s ' pletri~ as if atl of the said sum. vf munry were ong~nally stipulated to be paid on such day, anyth?ng in said n,~tc~ ur ~n th~. mortgage to the rontran notw•ithstand~ng; and thereupon or thereafter, at the option of said mortg~~- ' ?;er•, a~ithout notice or demand, su~t at law• or ~n equ~t~•, ma~~ be prosecuted as if all moneys secured hereb}• had ~ m~+tured pr~ur to ~ts enstitut~on. The mortgagee ma}• foreciose thts mortgage, as to the amount so declared due and ` p.~~abie, and the said pmm~ses shall be sold to sat~sfy and pa~~ the same together with costs, expenses,and allow~- ~ ances. In c.~se of partial foreclosure o[ this mottgage, the mortgaged ptemises shall be sold subject to the con- S tin~:in~ I~en of th~s mortgdRe for the amount of the debt not then due and unpaid. In such case the provisions of s'r~~: paraKr.~ph ma~~ again be ara~led of therealter (rom time to time by the mortgagee. { 10. That the mortKagor uill g~~•e ~mmed~ate notice hy mail to the mortgagee of an~ con~•e~~~+nce. transfer, or ~ h.~nge of uw•nership of the premises. ~ Il 7hat no u~aicer of ant~ co~•enant herein or o( the obl~gation secured hereb~- shail at an~ time therrafter hr L hc•lc; to he ~ ua~~•er oi the terms herevf or ~~f the note ~ec~red hereby. ~ 1L That if the martRagex default ~n anti of the co~enants or agreements canta~ned herein, or in sa?d note. then ;he m~~rtKa~ee ma~• perform the s~me, and al! expenditu~es (~nclud~ng reasonable att~rne~•'s fees) made b~• the ~ rnortgakee in so drnng sha.l draw~ interest at the rate set forth ~n the nute secured hereb~•, dnd shall be repa}•able ~ ir~r~c~d?atelc an~i «•,thout deman:~ b~ th~ r.~ort~agor to the mortgagee, and, together with interest and costs accruinK ~ thrre~n, shall he secured b~ th~~ mottKaKe. 13. that the r.~:~ilinq of a wr~tten notice or demandaddressed to the owner uf record of the mortgaged premises. ' ~~r ~?~r~ cted to the said owner at the last address actuall}~ furn~shed to the mort~agee. or d~rected to sa~downer at - ~,:+~d ~~oc2Raged pcem~ses, and mailed b~~ the Un:ted States ma?!s. shal! be sufE~c~ent notice and demand ~n any ~ :.~~e .+risinK unaer this ~nstrument ~nd required by the pro~ ~swns hereoi or bt• law~. 1-~ The TGi1KdKJf furthet covenants that stiauld this mortgage and the note secured hereb~• not be el:gtbte - f,>r ~nsur.~nce under the Nat~onal Houstn~ Art w ~thin ~ DAY~ [rcur; the date hereof (wri~ten si.+tement - ~~1 .~m .:ftsc~er of the Uepartment uf H:,us:ng .+nd Urban Ue~~elopment or authorued agent of the Secretar~~ of Hous- - i:;k and l'rban L)c•ceiopment dated subseyuent to the ~ r~'.`.';, time from the date of this mortgage. _ decEi~~ng to ~nsure said note and th~s mortgdge, be~ng deem•~d conclusi~•e prcwf o( such inel~gibilitt~), the mortga- ~ Qee ~~T thc- h~lder of the note ma~~, at ~ts opt~on. declare all sums secured herebg immed~ately due and paleble. ~ Thr co~rndnts here~n conta~n~d shall bind, and the benefits and adt•antages shall inure to, the respective he:r~. e•xe•cutorc. adm~n~strators. ~uccessors, and ass~gns of the parties hereto. N'hene~~er used, :he singular num- h~~r shali i~c :ude the plural. the plura~ the sin~ular, and the use of am~ gender shalt ~nclude a:l genders. . T:} ^i3 doo~197 928 . . . . . . . . ~