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Home My WebLink About0888 That he w~ill permit, cummit, or suf(~r no waste, impaitm~nt, or deterioration ot said ptoperty or uny parl thc•reof; and in the e~~eni of the fa~lure of the mortgag~t t6 Reep the buildings on said prcmises and those tobe erected on said premises, or impro~•ements thereon, in good repai~, the mortg~gee may make such repairs as in its discretion it maY deem necessary for the proper preservation thereof, and the tul! amuunt of each and eve~y such payment shall be immediately due and pa~~able, and shall be sc-cured b~• the lien of this mortguge. ~ G That he w~ill pay all and singular the cacts, charges, and expenses, including ~easonable l~+wyer's fees, and co~t~ of abstracts o! title, incurred or paid at any time bythe mortgagee.because of the fa~lure on the part of the mortgagor promptl~• and full~• to perEorm the ag~eements and covenants of said promisso~y note and this mort- .,,7 :,J .1,.. ~{...11 I.a+ ...~.ii:afsalv r1~~a anel rvaa~uhlo anrl cF~nll tia csu`~~rss~ 1~v 1tis~ . :2.... o......n~~c ' su~~., _,.a.u . .b~ . ~ .y . i _3, , . , _ . . ~ lien of this mortgage. 7. That he w•ill keep the improvements no~ existing or hereafter erected on the mortgaged property, insured as may be required from t?me to t~me b~• the moctgagee against loss by tire and other hazards, casualties, and contin- gencies in such amounts and E~r such periods as may be required by mortgagee, and will pap promptly, when due, an}~ pr~miums on such insurance for payment of which provision has not been made hereinbefore. All ~nsurance shall be carried in companies appro~~ed by mortgagee and the policies and renewals thereof shall be held by mort- gegee and have attached thereto loss pa~~able clauses in favor ot and in form acceptable to the mortgagee. ln e~•ent of loss he will gi~~e immediate notice by mail to mortgagee, and mo~tgagee may make proot of loss if not made pcomptl}~ b~• mortgagor, and each insurance company concerned is hereby authorized and directed to make p~~~ment for ~uch loss dicectly to mortgagee instead oE 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 ot the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclosuce of this mortgage or other transfer o( title to the mortgaged property in extinguishment ot the indebtedness secured hereby, all right, ti:le, and interest of the mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee. 8. Ttiai thr morigd~ee may, at any time pen3ing a suit upon this mortgage, apply to ihe coutt having jurisdic- tion thereof for the appointment of a receiver, and such court shall forthwith appoint a receiver of the premises co~~ered hereby all and singular, including all and singular the income, profits, issues, and revenues from whatever ~ource derived, each and every of which, it being expressll~ understood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereoE, and such receiver shall have all the broad and efEect~~~e functions and powers in anywise•ertrusted by a court to a receiver, and such appointment shall be made by such court as an admitted equity and a ~natter of absolute right to said mortgagee, and without reference to the adequac~~ or ~nadequa~y of the value of ihe property mortgaged or to the solvency or insotvency oE said mortgagor or the defendents, and that such rents, proEits, income, issues, and revenues shall be applied by such receiver ~+ccording to the lien of this mortgage and the practice of such court. ln the ecent of any default on the part oi the mortgagur hereunder, the mortgagor agrees to pay tc~ the mortgagee on demartd as a reasonable monthly rental for ~rem:ses aa a:ro~:t at .east equisalczt to anc-iwc:fih (2'12) of the agg:egate cf the ti+:elte mozthlyi:~sta::- ments payable in the then current year plus the actual amount of the annual taxes, assessments, water rates, and ...c.~.-an.,a n.o.,.i~~..,c Fnr c.rh vs+or nnt rnvPrwi hv tl+o afnrs+cait~ mnnthlv navmPnts , r._............... J-~.. -J -J c--J_.- - ' 9. That !~t ~ in the event of any breach ot this mortgage or default on the part of the mortgagor, or !til in the , j e~~ent that an~• of said sums of money herein reEerred to be not promptly and tully paid without demand oc notice, ; ; or , in the e~~ent that each and e~•ery the stipulations, agreements, conditions. and covenants of said note and ~ s this mortgage, are not duly, promptly, and fully pecformed; 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 i s hereby~, shall become due and payable forthwith, or thereafter, at the option of said mortgagee, as fully and com- r pletely as if at! 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 or thereafter, at the option of said moctga- gee, w~ithout 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 pa}•able, and the said premises shall be sold_ to satisfy and pay the same together with costs, expenses,and allow- i ances. In case of partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con- ~ tinuing tien 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 ot thereafter from time to time by the mortgagee. 10. That the mortgagor will give immediate notice by mail to the morigagee of any conveyance, transfer, or change of ownership of the premises. 5 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 mortgagor default in any oE the covenants or agreements contained herein, or in said note, then ~ the mortgagee may pecform the same, and all expendituces (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 r ~mmediately and without demand by the mortgagor to the mortgagee, and, together with interest and costs accruing ~ thereon, shall be secured by ihis mortgage. 13. that the mailing of a written notice or demandaddcessed to the owner o[ record 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 ~ t:; sa~d mortgaged pcemises, and mailed by the United States mails, shall be sufficient 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 mortgage and the note secured hereby not 6e eligibie ~ ~ for insurance under the hational Housing Act within from the date hereof (written statement : ; uf anS• officer of the Department of Housing and Urban Develo ment or authorized agent of the Secretary of Hous- = ing and Urban Development dated subsequent to~ the 30 ~3AY^ time from the date o[ this mortgage, declining to insure said' not~,,and this mortgage, being deem~~d conclusi"ve prooE of such ineligibility), the mortga- gee or the holder ot the note may, at its option, declare all sums secured hereby immediately due and payeble. ~a The covenants herein contained shall bind, and the benefits and advantages shaU inure to, the respective heirs, executors, admin~strators, successors, and assigns of the parties hereto. 11'henever used, the singular num- ber shall include the plural, the plural the singular, and the use of any gender shall include all genders. •r< ~s ';5 `u:~ j=~ 8~~ 198 ~ 88? _ _ -