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Home My WebLink About1409 That he will permit, commit, or suffer no waste, impai~ment, or detetioration o[ said property or any part ~hereot; and in the e~•ent ot the (aihue of thc mortgagor to keep the buildings on said premises and those tobe erected on said premises, or improvements the~eon, in good repair, the mortgagee m:~y make such repairs as in its di~cretion it may deem necessary for the proper presen•ation thereo[, and the full amount of each and every such pa~~ment shall be immediately due and pa~~able, and shall be secured by the tien of this mortgage. 6. That he will pay all and singular the costs, charges, and expenses, including reasonable law}•er's fees, and c:o`tt of abstracts ot title. inc~~red oc paid at any time b~~ Ihe mortgagee.because ot the failure on the part of the mortgagor promptly and fully to perform the agreements and covenants of said ~promissory note a~d this mort- gage, an~ said costs, cfiarges, and expenses shall be immediately due a~d payable and shall be secured by the li~n of th~s mortgage. i. That he w•ill keep the impro~•ements now~ exisiing or he~eafter erected on the mortgaged p~operty, insuted as ma~• be required from time to time by the moctgagee against loss by fice and other hazards, casualties, and contin- gencies in such amo~nts and for such periods as ma~• be required by mortgagee, and will pay promptly, when due, an~• premiums on such insurance for payment of which provision has not been made hereinbefo~e. All insurance shall be carried ~n companies appro~ed by mortgagee and the policies and ~enewals thereof shall be held by mort- gugee and ha~•e attarhed thereto loss payable clauses in Eavor of and in form acceptable to the mortgagee. In e~•ent of loss he will give immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptl~~ by mortgagor, and each insurance company concerned is hereby authorized and directed to make pat~ment for such loss directly to mortgagee instead of to moctgagor and mortgagee jointly, and the insuraace pro- ceeds, or any part thereo[, may be applied by mortgagee at its option eithe~ to the reduction af the indebtedness hereby secured or to the restoration or repair of the properly damaged. In e~~ent of toreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, al! right, title, and interest of the mortgagoc in and to an~• insurance policies then in Eorce shall 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 receiver, and such court shall forthwith appoint a receiver o[ the premises covered hereby all and singular, including all and singular the income. pro[its, issues, and revenues from whatevec source deri~ed, each and every of which, it being expressly understood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereof, and such receiver shall have all the broad and effecti~•e function5 and powers in anywise entrusted by a court to a receiv~et, and such appointment shall be made by such court as an admitted equity and a matter of absolute right to said mortgagee, and without reference to the adequac~~ or inadequacy ot the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the defendents, and that such rents, profits, income, issues, and re~enues shall be applied by such receiver :+ccording to the lien of this mortgage and the practice of such court. ln the event of any default on the paet of the ' mortgagor hereundec, the mortgagor agrees to pay to the moctgagee on demand as a reasonable monthly rental for the premises an amount at least equivalent to one-twelfth (1/12) of the aggregate o[ the twelve monthly install- ments payable ~n ihe then current year plus the actual amount of the annual taxes, assessments, water rates, and ~nsurance premiums for such year not covered by the aforesaid monthly payments. 9. That ± in the event of any breach of this mortgage or default on the pad of the mortgagor, or (6~ in the e~~ent that an~~ of said sums of money herein referred to be not promptly and Eully paid without demand or notice, or in the event that each and every the stipulations, agreements, conditions. and covenants of said note and E this mortgage, are not duly, promptly, and fuliy performed; 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 L.._..?... ._L..11 L......_:, J.'_ .._J _ 'L~., [.._~l.""•L •L""t•'_ •L' _ _J ..v., u..v ~.aa~o.ia sv~......• , vi u~u~o~iw. ui u~c v~siivu va ,aau ulanl~a~CC~ tlJ tWIY ift1U (:Vtil' i pletel}• as if all of the said sums of money were originally stipulated to be paid on such day, anything in said i note or in this mortgage to the contrary notwithstanding; and thereupon or therea[ter, at the option of said moctga- ` gee, without notice or demand, suit at law or in equity, may be prosecuted as if all moneys secu~ed 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 be sold to satisfy and pay the same together with costs, expenses,and allow- ' a~ces. :n case cf partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con- ~ tinuing lien 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 of thereaiter from time to time by the mortgagee. ~ 10. That the mortgagor will give immediate notice by mail to the mortgagee of any conveyance, transfer, or ~ - change of ownership o[ the premises. 11. That no waiver of any co>>ertant herein or ot the obligation secuted hereby shall at any time thereafter be ~ heid to be a waiver of the terms hereof or of the note secured hereby. ~ 12. That if the mortgagor defauit in any oi the covenants or agreements contained hecein, or in said note, then E the mortgagee may perform the same, and all expenditu~es (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 ~ immediately and without demand by the mortgagor to the mortgagee, and, together with interest and costs accruing ~ thereon, shall be secured by th~s mortgage. -y 13. that the mailing of a written notice or demandaddressed to the owner of record of the mortgaged premises, ' or directed to the said owner at the last address actually furnished to the mortgagee, or directPd to said owner at said mortgaged premises, 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 be eligible ; for insurance under the National Housing Act within 3p DAYS from the date hereof (written statement 3 ~ of dn~~ otficer of the Department of Housing and Urban Development or authorized agent of the Secretary of Hous- ~ ing and Urban Development dated subsequent to the DA~ time from the date of this mortgage, = - declining to insure said note and this mortgage, being deem~~d cortclusive proof of such ineligibility), the mortga- 3 _ gee or the holder of the note may, at its option, deciare all sums secured hereby immediately due and payeble. ' - The covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective - heirs, executors, administrators, successors, and assigns of the parties hereto. Whenever used, the singular num- - ber shatl include the plural, the plural the singular, and the use of any gender shall include all genders. ~ ~ ~ t - b00x~~