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Home My WebLink About1126 ~ Th~t he H~ill permit, cc~mmit. ~~r suffer no w•aste, im~itment, i~r deten~~cat~on said prt~pert~ or .,nc p.~rt ~ tiirrc•~~t, .~nd ?n the c•~c•nt ai the lailure of the~murt~,.~kot to ktc~p the huildin~,s on ~aid prem~ses ~+n~l th.~se tobe e•re~c ted on s~+~d premi.c~s, ui lmpro~•rm~~nts th~~ri•un. tn ~oe~d re•p~tr, thc mcirt~~,~;re r:~:,~ m~~{:e tiui•h re~~:+~rti e+~ in ~t~ discret~on ~t ma~ deem nereSS~f~ IOI the proE~er presenation thereoL and the lull amount .~f each and ~~•er~ cuch p<~~ mc•nt shall be ~mm~~~.+tel~ due and payablc, and shall be serured b~ the l~en o:.th~c rtit~T{~;ai~e. h That he µ~ill pa~~ all and ssnKular the costs, charges. ~nd ea~xn~es, includin~; reasonable law~c~r'~ (ees, und cc~.tc of ~t~ctrarts af t~tle. incurred or paid at any time b~~ the mort~~+gee .ber.:use of the ta~lure on the pert of ; the• mort~;,,~or promptl~ and full~• to ~r[orm the agreements ~nd co~•enants ot s~+~d prom~~sory note and th~. mort- J _ _ _._J __l_~t L_ "_-_J'_._f_' J"_ __..._LI_ ~ _l.- L _ _J l_- •L_ : F;a~f,t. uliu :~c•iU ..t_.~_~. ~.~a~E,lc.. oiiu cA~:c..:~t~ .+.~au• Jl •u~u~lV~J~I-~` ..ul uliu ~+~~ai.:•l u~.u ~~~d.. ;~l~~u.CU v~ i~11 lu~n o( thic mc~rtka~e. ~ That hc aill keep the imprrn•ement~ now• eaisting or hereafter erected on the mort~aged prc~pert~•, insured as m~+t be requirc•d from time to t~me bt the mort~a~ee against loss b~• f~re and other hazards, c:~sualt~es, and contin- Rr•ncic~s in such amounis and for such pe:iods es ma~• be reqwred b~ mortgaRee, and w•~11 pa}• promplly, u•hen due. _ d:i~• prerniums on such ~n~urance tor p:+ym~nt of ahich pr~~~ts~on has not been made here~nbefore. AI1 insurance shall be carricrd in companie•s appro~•ed b~~ mortgagee and the poliries and renew•als thereof shall be held by mort- ; ~;a~ee and ha~•e attached thereto loss pa~•able clauses in [a~•or of end in form acceptable to the mort~agee. ln E~~•c•nt of loss he W ill g~~•e immediate notice b~• maii to moitgagee, and mortga~ee m<~y make proof of loss if not made prumptlt• b~• mortgagor, and each ~nsurance companti• concerned is hereb~~ authotued and dttected to make pa~mrnt tor such loss d~rectl~~ to mortgdKee inste~,d of to mortgagor and mortgagee jointl~~, and the insurance pro- ceeds, or any~ part thereof, may~ be applied by mortgagee at its oplion either to the reduction of the indebtedness hereb~• secureo or ta the restoration or repair of the propert}• damaged. ln e~•ent of forecfosvre of this mort~ege or other transfer ot title to the mortgaged property~ ~n extinguishment of the indebtedness secured hereb~•, ali nght, title. ~nd interest ~f the mortgagor in and to am~ insurance policies then in iorce shali pass to the purchaser or ~;rantee. K. That the mortgagee ma}~, at ant• time pending a suit upon ihis mortgage, applp to the court he~~ing jurisd~c- t~cm thereof (or the appointment of a recei~•er, and such court shall forthKith appoint a receiver of the premises c~o~~ered hereb}~ all and sin~ular, includin~ all and singular the income, profrts, issues, and re~~enues from whate~~er «~urce deri~~ed. each and evert~ of K-hich, it be~ng expressly understood, is hereby mortgaged as if specificail}• set fortfi and described in the grenting and habendum clauses hereof, and such receiver shail ha~•e a11 the broad and effecti~•e functions and pc~wers in an~•wise entrusted b~~ a court to a rece~vet, and such appaintment shall be made b~ such court as an admitted eqwty and a matter of absolute right to said mortgagee, and without reterence to the ~,aea~d~~~ inadequact~ of the ~•al~e of the propertt~ mortgaged or to the solvency or insolvency of said mortgagor or the deiendents. and that such rents, profits, income, issues, and revenues shall be appl~ed b~~ such rereiver .,ccordinq to the lten of this mortgage and the pract~ce of such court. ln the e~~ent of any default on the part ot the r.~ort~agor hereunder, the mortgagor a~rees to pa}- to the mortgagee on demand as a reasonable mont~l~~ rental tor t ,hc• premises an amount at least equi~•alent to one-tw~elfth (l ' 12) of the aggregate of the tw•el~~e monthly ins.atl- r,ents pd~able in the then current year plus the actual amount of the annual taxes, assessments, water rates, and ; ~...,1. ,,,....._...7 1... •1... ..l..~......:.7 ~..~~L1.. i:c;iuiuuCi f.Iiwiuu~o av~ owu ~~~.u~ a~va ~.v.a..~u v~ .ua, o~wa.ousu u.v.ua.a7 No7+ua.ua,i. Q. Tha! ~~n the e~~ent of any breach of this mortgage or default on the part of the mortgagor, or ;':i in the e•~•ent ihai dm• oi sa~d sums of mone}• herein referred to be not promptiy and fulh• paid without demand or notice, or ~ in the e~•ent that each and e~•ery the stipulat~ons, agreements, conditions. and cavenants of said note and this mortgage, are not dul~•, promptl~~, and full} pesformed; thert tn either or an~~ such event, the said aggregate sum mentioned in said note then remaining unpaid. aith interest accrued to that time, and all mone~~s secured p hereb~, shall berome due and pa~-able forthw•ith. or thereafter, at the optton of sa~d mortgagee, as fully and com- _ ' Fletel~~ as if a:l of the said sums of mone~• were originall}~ stipulated to be paid on such day, anything in said ~ note or in this mortgage to the contrart• notw•ithstanding; and the~eupon or thereatter. at the option of said matga- ; gE•E•. without notice e~r demar.d, su~t at law• or ~n equitt', ma~~ be prosecuted as i( all moneys secured hereby had ; matured prior to its institution. The mortgagee may foreclose th~s mortgage, as to the amount so declared due and = pa~~abie, and the said premises shall be sold to satisfy and pa}• the same together with costs, expenses.and allow- > ances. ln case of partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con- " tinuin~ lien of this mortgage for the amount oi the debt not then due and unPaid. ln such case the pro~•isions of ~ ti:is paragraph mat~ again be availed oi thereaftet from time to time by the mortgagee. ~ : 10. That the mortgagor u~ill give immediate notice b}~ mail to the mortgagee oi any com•eyance, transfer, or ~ chan~e of ow•nersh~p of the premises. ~ ~ 11. That no w•a~ver of an}• co~~enant herein or of the obligatiun secured hereb}• shall at an~• time thereafter be r heid to be a w~an•er of the terms hereof or of the note secured hereby. ~ 12 That if the mortgagor default in an~~ oi the co~•enants or agreements contained herein, or ~n said note, then ~ the mortg~,~ee ma~• pecform the same, and al; expenditutes (including reasonable attorney's fees) made b}• the ~ murtga~ee in ~o doing shall draw• interest at the rate set forth in the note secured hereb}•, and sha11 be repayable ir.~med~atei~ and w•~ihout demand b~• the r~ortgagor to the mortgagee, and, together with ?nterest and costs accruing ~ tnt•reon, shall be secured b~ this mortgage. 13. that the mailing of a K~r~tten notice or demandaddressed to the owner of record of the mortgaged premises, ur directed to the sa~d owner at the last address actuall}~ furnished to the mortgagee, or directed to saidoKner at = sdid mortgaged premises, and r.~ailed by the Lnited States mails. shall be suificient notice and demand in any ~ c~se ans?ng under this ~nstrument and requ~red by the pro~•isions hereo! or b}' Iaw. ~ i4. The mortgdgor further covenants that should this mortgage and the note secured hereb~• not be eligible f~r insurance under the !~ational Housing Act u•ithin ~ ~j,~ from the date hereof (written statement = uf aret ~fficer of the Uepartment of Housing and Urban Development or authorized agent of the Secretary of Hous- _ ing and Urban De~•elopment dated subsequent to the a!~ ~AY~ time from the date of this mortgage, ~ drelinin~ to ~nsure said note and this mortgage, being deem•. conclusive proof oE such ineligibility), the mortga- ~ " ~ee or the holder of the nc~te ma~•, at ~ts option. declare all sums secured hereby immediately due and pa}able. l'he covenants herein contain~ shall bind, and the bertefits and advantages shall inure to, the respective - heirs. executors. administrators, successors. and assigns of the parties hereto. K'henever used, the s~ngular num- ber shall inctude the plurai, the Q1ura1 the sinRuiar, and the use of an~ gender shall include all genders. ~ ~-j _ F : ; } i aoo~ 19$ ~r~1125 - ;