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S. That he wiU perm~t, cummit, or sutfer no:waste. impa~tRqpt:ot detertorattun uf sa~d proFx•rh~ ur ~,n~ ~~.~rt ~
thereuf; aod in the event of the failnre uf the murtgagor to kerp ihe buildin~s un sa~d prem~srs and thuse tob~~
e?ected on said premises, or ~mpru~ements the~eon. ~n goud repair, the mortKagre ma~• make such rep:+irs .+s m?ts
d~scretton it may decm necessary for the proper pcesen~ation thereuf, and the full amuunt oi r:~ch and ecery ~uch
payment shall be ~mmedi:~tely due and payable, and shall be secured by the lien of thls mortg~ge.
6 That he w~ll pay all and singul:~r the caets, ch:~rges, and expenses, ~nclud~nK reasunable law~~e~'s fees.
a~d costs of abstracts ot title, incurred or paid at an~~ time bythe muttgagee.because of the fa~lure on the psrt of
the murtg<+gix promptl~• and EuUy to per(orm the agreements and covenants of satd promissory note and th~s murt-
gage, and said costs, ch~rges, and expNnses shall be immediatety due and pa~•able and shall Ee secured by the
lien c~f this mortgage.
7. That he wil! keep the improv~ments now existing or hereafter e~ected on the mortgaged property, ~nsurc~ as
may be cequired [~om time to t~me by the mortgagee against loss by fire and other hazards, casualties, and contin-
genc~es in such amounts and for such periods as may be requ~red by mortgagee, and will pay promptly, whea due,
:,ny prerniums on such insurance for payment of which provision has not been made hereinbefore. Afl ~nsurance
shall be canied ~n compan?es appro~•ed by mortgagee and the policies and renewals thereof shalt be held by mort-
g~~ee and have attached thereto loss payable clauses in favor of and in form acceptable to the mortg:~gee. In
e~~rnt of loss he will g~ve immedtate notice by mail to mortgagee, and mortgagee may make proof uf luss ~f nut
m~de promptly bp mortgagor, and each insurance cumpan~~ concetned is he[eby authorized and dicected to make
pu~~ment for such loss directly to moctgagee 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 tfie reduction of the indebtedness
hereby secured or to the restoration or repair oE the property damaged. In event of foreclosi~re of this mortg:?ge or
other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all r~ght,
title, and interest of the mortgago~ in and to an~• insurance pol~cies then in furce shall pass to the purchaser ur
grantee. ~
8. "fhat the murtgagee may, at any time pending a suit upon this mortgage, apply to the court having jurisdic-
t~on thereof for the appointment of a receiver, and such coud shall forthwith appoint a rece~ver of the prem~ses
co~-ered hereby all and singular, including all and singulac the income, profits, issues, and revenues Erom whatever
source derived, each and every oE which, it be~ng expressly understood, is hereby mortgaged as if specif ically set
forth and described in ihe granting and habendum clauses hereof, and such receiver shall have all the broad and
effect~~•e functions and powers in anywise entrusted by a court to a receiver, and such appointment shatl be made
by such court as an admitted equity and a matter of absolute nght to said mortgagee, and w~thout refe~ence to the
adequacp or inadequacy of the value of the propedy mortgaged ui to the soly~?~ y or insolvency of said mortgagor
or the defendents, and that such rents, profits, income, issues, and revenubs shall be appiied by such receiver
acc~xding to the lien of this mortgage and the pract~ce of such court. ln the event of any deEault on the part of the
murtgagor here~.~nder, the mortgagor agrees to pay to the mortgagee on demand as a reasonable monthly rental tor
the Premises an amount at least equivalent to one-twelfth (1~'12) of the aggregate of the twelve monthlyinstall-
mc nts payable in the then current year plus the actua! amount of the annual taxes, assessments, water rates, and
~nsurance premiums for such year not covered by the aforesaid monthly payments.
9. That !,.i in the event of any breach of this murtgage or default on the pa~t of the mortgagor, t~r 'bt in the
event that any of said sums of money herein referred to be nvt promptly and fully paid without demand or notice,
or in the event that each and ever~~ 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
sum mentioned in said note then remain~ng unpaid, with interest accrued to that time, and all moneys secured
f hereby, shall become due and payable forthwith, or thereafter, at the option of said mortgagee, as fully and com-
; pletely as if all of the said sums of money were originally st~pulated to be paid on such day, anything in said
~ note cx in this mortgage to the contrary notwithstanding; and thereupon or thereafter, at the oPtion o( said mortga-
; gee, without notice or demand, suit at law or in equity, may be prosecuted as iE atl moneys secured hereby had
! matured prior to its institution. The mort~agee may foreclose this mortgage. as to the amount so declared due and
~ pa}~able, and the said premises shalt be sold to satisfy and pay the same together with costs, expenses,and allow-
ences. In case of partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con-
tinuing lien of this mortgage [or the amount o[ the debt not then due and unpaid_ In such case the provisions of
s this paragraph may again be availed of thereafter 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 of the premises.
~ 11. That no wa~ver of any covenant herein or of the obligation secured hereby shall at an}• time thereafter be
` held to be a wa~ver of the terms hereof or of the note secured hereby.
~ 12. That if the mortgagor default in any of the covenants or ag~eements contained herein, or in said nc>te, then
~ the mortgagee may~ perform the same, and all expendituces (including reasonable attorney's fees) made by the
~ mortgagee in ~o ~loing shall draw interest at the rate set forth in the note secured hereb_y, and shall be repayable
~ immediately and without demand bp 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 w demandaddressed to the owner oE record of the mortgaged premises.
or d~rected to the said owner at the last address actually furnished to the mortgagee, or diretted to saidowner at
said mocigaged 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 mor.gage and the note secured hereby not be eligible
for ~nsurance under the National Nousing Act w~thin from the date hereof (written statement
~f any ofticer of the DePartment of Housing and Urban Development or authorized agent of the Secretary of Hous-
ing and Urban Developtaent dated subsequent to~ the time Erom the date of this mortgage.
declining to insure said note and this mortgage, being deem•~d concTsive proof of such ineligibility), the mortgd-
gee or the holder of the note may, at its option, declare all sums secured hereby immediately due and payable.
The covenants herein contained shall bind, and the benefits and advantages sfiall inure to, the respective
heirs, executors, administrators, successors, and assigns of the parties hereto. Whenever used, the singular num-
e' ber shall ~nclude the plural, the plural the singular, and the use of any gender shall include all genders.
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