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Home My WebLink About2203 S. That he w~~il permit, comm~t, or sufEer no waste, impa~rment, or deter?oration of said propert~• or an~• part thereof; and in the e~~Pnt af the (ailure ot the mottgagor to keep the buildings on sa~d ptemises and those t~be erected on said premise~: or ~mpra~•ementc therec~, ;p gcu~ rPpair, 1}?e mortgagee rt~ay make such re~irs a~ i.^. its discret~on ~t ma~• deem necessaty Eor the proper preser~~ation theceof, and the full amount ot each and e~•er}• such payment shall be ~mmediately due and payable, and shall be secured b}• the lien of this mortgage. 6 That he w~ill pa~~ all and singular the cacts, charges, and expenses, including reasonable laW~~•e~'s tees, and costs ot abstracts ot title, incurred or paid at any time b~~ the mortgagee .because of the fa~lare on the part of the mortgegor Qromptl~• and full}• to perEorm the agreements and co~~enants of said p~omissor}' note and this mort- gage, and saio costs, ctwrges, and expenses shali ne immed?ately due and pa~•able and shall be secured b}~ the lien of this mortgage. That he w~ill keep the impro~~ements noW existing or hereafter erected on the mortgaged property, insured as md~~ be required from time eo time by the mortgagee against loss b~• fire and other hazards, casualties, and contin- gencies ~n such amounts and for such periods as may be required by mortgagee, and K•ill pay promptly, when due, dn~• premiums on such insurance for payment of which pro~•ision has not been made hereinbefore. All msurance shali be carried ~n companies appro~•ed b~~ mortgagee and the pol~cies and renewals thereof shall be held by mort- gagee and ha~•e attached thereto loss pa~•able clauses in fa~•or of and in form acceptable to the mortgagee. !n e~•ent of loss he w~ll give immediate notice b~• ma~l to mortgagee, and mortgagee map make proof of loss i[ not made promptl~~ b~• mortgagor, and each insurance compan~~ concerned is hereby authorized and directed to make pa~~ment for such loss directly to mottgagee instead o( to mortga~ot and mortgagee jointly, and the insurance pro- ceeds, ar any part thereof, map be applied bt• mortgagec at its opttcn either to the reduciion o( ihe indebtednFSs hereb~• secured or to the restoration or repair of the propert~~ damaged. ln e~•ent of foreclosure ot this mortgage ot other transfer of title to the mortgaged property in extinguishment ot the indebtedness secured hereby. all right. title, and interest of the mortgagor in and to an}~ insurance pol~cies then in force 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 thereot for the appointment of a receiver, and such couri shal! forthwith appoint a recei~•er of the premises co~•ered hereby all and singular, including all and singular tfie ~ncome, profits, issues, and revenues from whatever source derived, each and every of which, it being expressly understood, is hereby mottgaged as if specificatly set forth and described in the granting and habendum clauses hereof, and such receiver shal! have ail the broad and effecti~•e functions and powers in an~~wise entrusted by a court to a receiver, and such appointment shall be made b~ such court as an adm~tted equity and a matter of absolute right to said mottgaget, and without refQrence to the ~ adequact~ or inadequacy of the ~•alue of the propert}~ mortgaged or to the solvency or insolvency of said mortgagor or the defendents, and that such rents, profits, income, issues, and revenues shall be applied by such receiver according to the lien of this mortgage and the practice of such court. ln the event of an~~ default on the part of the i mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reasonahle monthly rental for ~ the premises an amount at least equivalent to one-twelfth (1!12) of the aggregate of the twelve monthlyinstall- _ ments payabie in the then current year plus the actual amount of the annual taxes, assessments, water rates, and ; insurance premiums for such year not covered by the aforesaid monthly payments_ ! 9. That i~.; in the event of any breach of this mortgage or default on the part of the mortgagor, or !b1 in the ; e~•ent that an~~ of said sums of money herein referred to be not promptly and fully paid without demand or notice, ~ or :~n the event that each and every the stipulations, agreements, conditions. and covenants of said note and ~ th~s mortgage, are not duly, promptly. and full~~ per(ormed; then ~n either or any such event, the said aggregate a sum mentioned in said note then remain~ng unpaid, with interest accrued to that time, and all moneys secured _ C hereb~•, shall become due and pa}~able focthwith, or thereafter, a! the option of said mortgagee, as fully and com- ~ pletel}• as if ail of the said sums of mone}~ were originally stipulated to be paid on such day, anything in said i s note or in this mortgage to the contrar~• notv?ithstanding; and thereupon or thereafter, at the option of said mortga- ~ gee, w~ithout notice or demand, suit at law or in equit}', ma}• be prosecuted as if all moneys secured hereby had i ~ matured prior to its institution. The mortgagee ma~• foreclose this mortgage, as to the amount so declared due and a pa}•able. and the said premises shall be sold, to satisfy and pay the same together with costs, expenses,and allow- ~ ances. In case of partial foreclosure of ttsis 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 _ th~s paragraph ma~~ again be availed of thereafter from time to time by the mortgagee. > _ 10. That the mortgagor will give immediate notice b}' mail to the mortgagee of any conveyance, transter, or change of ow~nership of the premises. 11. That no waiver of any covenant herein or of tne obligation secured hereby shall at any time thereaEter be • ~ held to be a u~ai~~er of the tecros hereof or of the note secured hereby. ~ 12. That if the mortgagor defau:t in any of the co~•enants or agreements contained hecein, or in said note, then ~ the mortgagee may perform the same, and all expenditutes (includ~ng 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 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. ~ 13. that the mailing of a written notice a demandaddressed to the owner of record of the mortgaged premises, c,r directed to the said owner at the last address actually furnished to the mortgagee, or directed to said owner at said mortgaged pcemises, and mailed by the United States mails, shall be sufficient notice and demand in any ~ case aris~ng under this instrument end required by the provisions hereof or by law. ~ 24. The mortgagor further covenants that should this mortgage and the note secured hereby not be eligible _ for insurance under the National Nousing Act within from the date hereof (written statement _ of an~• officer of the Department of Housing and Urban Development or authorized agent of the Secretary of Nous- ing and Urban Development dated subsequent to the ~ ~Ays. time from the date of this mortgage, declining to insure said note and this mortgage, being deem~_ concfusive proof of such ineligibility), the mortga- gee or the holder of the note may, at its option, declare all sums secured hereby immediately due and payable. _ The co~•enants herein contained shall bind, and the benefits and advantages shall inure to, the respective heirs, executors, administrators, successors, and assigns oi the parties hereto. iA'henever used, the singular num- ber shail include the plural, the plural the singutar, and the use of any gender shall include all genders. = 8oc~ 1~8 ~~~1 _ _ _ ~ . -