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6. That he will pay all and singular the costs, charges, and expenses, including reasonable lawyer's fees, and costs of abstracts
of title, incurred or paid at any time by the mortgagee because of the failure on the part of the mortgagor promptly and fully to periorm
the agreements and covenants of said promissory note and this mortgage, and said costs, charges, and expenses shall be
immediately due and payable and shall be secured by the tien of this mortgage.
7. That he will keep the improvements now existing or hereafter erected on the mortgaged property insured as may be required
from time to time by the mortgagee against loss by tire and other hazards, casualities, a~d contingencies in such amounts and for
such periods as may be required by mortgagee, and will pay promptly, when due, any premiums on such insurance for payment of
which provision has noi been made hereinbefore. All insurance shall be carried in companies approved by mortgagee and the
policies and renewals thereof shall be held by mortgagee and have attached thereto loss payable clauses in favor of and in form
acceptable to the mortgagee. In event of loss he will give immediate notice by mail to mortgagee, and mortgagee may make prooi of
loss if not made promptly by mortgagor, and each insurance company concerned is hereby authorized and directed to make payment
for such loss directly to mortgagee instead of to mortgagor and mongagee jointly, and the insurance proceeds, or any part thereof,
may be applied by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of
the property damaged. In event of foreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishment
of the indebtedness secured hereby, all right, title, and interest of the mongagor in and to any insurance policies then in force shall
pass to the purchaser or grantee.
8. That it the premises, or any pan thereof, be condemned under any power of eminent domain, or acquired for a public use, the
damages, proceeds, and the consideration for such acquisition, to the extent of the full amount of indebtedness upon this Mortgage,
and the Note secured hereby remaining unpaid, are hereby assigned by the Mortgagor to the Mortgagee and shall be paid torthwith
to the Mortgagee to be applied by it on account of the indebtedness secured hereby, whether due or not.
9. That the mortgagee may, at any time pending a suit upon this mortgage, apply to the court having jurisdiction thereof for the
appointment of a receiver, and such court shatl forthwith appoint a receiver of the premises covered hereby alt and singular,
including all and singular the income, profits, issues, and revenues from whatever source derived, each and every of which, it being
expressly understQod, 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 effective functions and powers in anywise entrusted by a court to a receiver, 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 adequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or
the defendants, and that such rents, profits, income, issues, and revenues shatl be applied by such receiver according to the lien of
this mortgage and the practice of such court. In the event of any default on the part of the mortgagor hereunder, the mortgagor
agrees to pay to the mortgagee on demand as a reasonable monthly rental tor the premises an amount at teast equivalent to
one-twelfth ~1 /12? of the aggregate of the twelve monthly installments payable 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.
f 10. That (a) in the event of any breach of this mortgage or default on the part of the mortgagor, o~ (b) in the event that any of said
sums of money herein referred to be not promptly and fully paid without demand or notice, or ~c) in the event that each and every the
stipulations, agreements, conditions, and covenants of said note and this mortgage, are not duly, promptly, and fully performed; then
in either or any such event, the said aggregate sum mentio~ed in said note then remaining unpaid, with interest accrued to that time,
and all moneys secured hereby, shall become due and payable forthwith, or thereaher, at the option of said ~rortgagee, as fully and
completely as if all of the said sums of money were originally stipulated to be paid on such day, anytF.ing in said note or in this
mortgage to the contrary notwithstanding; and thereupon or thereafter, at the option of said mortgagee, without 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 payable, and the said premises shall be sold to satisfy a~d pay the
same together with costs, expenses, and allowances. ln case of pa~tial foreclosure of this mortgage, the mortgaged premises shall be
sold subject to the continuing lien of this mongage for the amount of the debt not then due and unpaid. In such case the provisions of
this par~graph may again be availed of thereafter from time to time by the mortgagee.
11. That the mortgagor will give immediate notice by mail to the mortgagee of any conveyance, transfer, or change of
ownership of the premises.
12. That no waiver of any covenant herein or oi 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.
13. That if the mortgagor default in any of the covenants or agreements contained herein, or in said note, then th@ mortgagee
may perform the same, and all expenditures (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 immeddately and without demand by the mortgagor to
~ the mortgagee, and, together with interest and costs accruing thereon, shall be secured by this mortgage.
14. That the mailing of a written notice or demand addressed to the owner of record of the mortgaged premises, or directed to
the said owner at the last address actualty furnished to the mortgagee, or directed 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.
so 6 9~ 9
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HUD-9211 OM (6-79)
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