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Home My WebLink About2540 S. Th~t he w•~11 perm~t; cc~mmit, ot suffer no u~astr, impa~nneM, or deterioration of said property or any purt therco(; and ~n the c~•ent of the [e~ih?re of the mortgagot to keep the build~ngs on said premises and those tabe erc~cted on ~a~d prcm~ses, or impro~-emenes thereon, in good repair, the mortgagee may make such repairs as in it~ discretion ~t ma~~ deem necessar~~ for the proper presen~ation thereof, and the tul! amounl of each and e~•ery such puvmrnt shall be immc~iately due and payable, and shall be secured b}~ the Iien of this morigage. 6 Thc~t he w~ill pay ail and singular the casts, charges, and expenses, includ~ng reasanable lawyer's fees, and cost~ of abstracts of t~tle, incurred oi paid at any time bythe mortgagee.because ot the failure on the part of tfie mortg<+gur promptly and fuliy to perform ihe agreements and covenants of sa~d promissory note and th~s mort- ga~e, and said cosis, char~;e~: and expenses shall be immediately due and pa~•able and shall be secured by the licn of th~s motig~ge. 7. Tha! he w•ill keep the ~mpro~•ements now existing w hereafter erected on the mortgaged property, insured as ma~• be required from time to time b~~ the mortgagee against loss b~~ (ire and othet hazards, casualties, and contin- gencie~ en such amounts and for such periods as ma~~ be required by mortgagee, and will pay promptly, when due, an~• prem~ums on such insurance tor payment of which provision has not been made hereinbe(ore. All insurance shaU be carried ~n companies approved by mortgagee and the policies and renewals thereot shaN be held by mwt- gagee and ha~•e attached thereto loss pa~~able clauses in favor of and in form acceptable to the mortgagee. ln e~~ent of loss he will give immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptlt• by mortgagor, and each insurance company concerned is hereby authocized and directed t~ make pa~•ment fur such loss directly to mortgagee instead of to mortgagor and mortgagee 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 hereb~~ secured or to the restoration ot repair of the property damaged. ln event of foreclosure of this mortgage or other trdnsfer of title to the mortgaged property in extinguishment o[ the indebtedness secured hereby, all right, title, and interest ~f the mortgagor in and to an~~ insurance policies then in force shail pass to the purchaser or grantee. 8. That the mortgagee may, at any time pending a suit upon this mortgage, apply to the court having jurisdic- tion thereof for the appointment of a ~eceiver, and such court shall forthwith appoint a receiver of the premises co~•ered hereb~~ all and singular, including all and singular the income, profits, issues, and revenues from whatever source derived, each and e~~ery of which, it being expressl~~ understood, is hereby mortgaged as if speciEically set forth and described in the granting and habendum clauses hereoi, and such recei~~er shall ha~e all the broad and eifecti~•e functions and powers in an}~w~se entrusted by a court to a receiver, and such appointm~nj shall be made b~• such court as an admitted equity and a matter of absolute right to said mortgagee, a~ without reference to the :~dequac~~ or ~nadequac}~ of the vaIue of the property mortgaged or to the solvency or insolvency of said mortgagor o~ the defendents, and that such rents, profits, income, issues, and revenues shal! be applied by such receiver ~+ccordin~ to the lien of this mortgage and the practice of such coud. in the event of a~iy default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reasonable monthly ten~al for the premises an amount at least equivalent to one-twelfth (1/12) of the aggregate of the twelve monthlyinstall- ~ ments pa~~abie in the then current year plus the actual amount of the annuat taxes, assessmeats, water rates, and ~nsurance premiums for su~!: year not covered by the atoresaid monthly payments. 9. That 1~~~ in the event of any breach of this mortgage or default on the part o( the mortgagor, or (6/ in the e~~ent that any of said sums of money herein re(erred to be not promptly and fully paid withaut demand or notice, - or ; in the e~~ent that each and every the stipulations, agreements, conditions. and covenants of said note and ~ th~s mortgage, are not duly, promptly, and fully performed; then in either or any such event, the said aggregate f ~um mentioned in said note then remaining unpa~d, with interest accrued to that time, and all moneys secured = hereb}•, shall become due and payable forthwith, or thereafter, at the option of said mortgagee, as fully and com- d ~ pletely as if all of the said surt:s 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 or thereafter, at the option of said mortga- - 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 mortgagee may foreclose this mortgage, as to the amount so declared due and _ payable, and the said premises shall tie sold, to satisfy and pay the same togeiher with costs, expenses,and allo;iv- ; ances. In case oE partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con- ~ tinuing lien of this mortgage Eor the amount of the debt not then due and unpaid. In such case the provisions of ~ th~s paragraph may again be availed of thereafter from time to time by the mortgagee. ]0. That the mortgagor will give ~mmediate notice by mail to the mortgagee of any conveyance, transfer, or change of ownersh~p of the premises. ~ 11. That no wai~•er of any covenant herein or of the obligation secured hereby shall at any time thereafter be = held to be a waieec of the terms hereof or o( the note secured hereby. ~ 12. That i[ the mortgagor default in any of the co~•enants or agreements contained herein, or in said note, then - the mortgagee may perform the same, and all expenditutes (inciud~ng reasonable attorney's fees) made by the mortgagee in co doing shall draw interest at the rate set forth in the note secured hereby, and shall be repayable ~mmediately and without demand by the moctgagor to the mortgagee, and, together with interest and costs accruing thereon, shall be secured by th~s mortgage. 13. that the mailing of a written notice or demand addressed to the owner of recotd of the mortgaged premises, ~ or directed to the said owner at the last address actually furnished to the mortgagee, or directed to said owner at Sbld mortgaged premises, and mailed by the United States mails, shall be sufficient notice and demand in any ~ ~ cese aris~ng under this instroment and required by the provisions hereof or by law. l4. The mortgagor further covenants that shoald this~j o and the note secured hereby not be eligible ~ for insurance under the National Housing Act within .iV from the date hereof (written statement ~ _ of ant~ oiticer of the Department of Housing end Urban Development or authorized ageni of the Secretary of Hous- g ing and Urban Development dated subsequent to the 30 [j~~ time trom the date of this mortgage, ~ - declining to insure said note and this mortgage, being deem~>d conclusive proof of such ineligibility), the mortga- _ _ gee or the holder of the note rn3y, at its option, declare all sums secured hereby immediately due and payeble. ~ The covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective ~ ~ he~rs, executors, administrators, successors, and assigns o[ the parties hereto. Whenever used, the singular num- ~ ber shali ~nclude the plural, the ptural the singular, and the use of any gender shall include all genders. s _ ; _ ~ ~ ?z i ; ~ _ 3 ~ooK 197 P~2536 ' _