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Home My WebLink About0973 r I . 1 t ~ . ~ ~ ` ~ ~ • . ~ ~ . _ _ _ - . . _ > ~ . . ~ " ' S. That he will permit, oommit, or suffcr na waste. impairment, the practia of such ooun. In the event ot any default oo the part a• deterioratan of said property or any pan theroof; and in the oi the Mongagor hercunder~ the Mongagor agroos to pay to the event of the failurc ot the Mortgagor to kap the ~uildings on said Mortg~aga on ckmand as a reawnabk monthly rental for ttae premises and those to be rroctod on said prtmises, or improvcmenu prcmis~e,s an amount at kast oquivaknt co one•twelfth (1112) of the theroon, in good rcpair, the Martgsga may make such repairs as aggregate of the twdve tnonthly instalUr?ents payabk in the then in its discretion it may deem neoess~ry !or the propor preservation current year plus the actuai anwunt ot the annual taxes, theroof. and the tull amount of each and every such payment shall assessments, water rates. and insurnnce premiums for such year not be immodiately due and payabk. and shall be socurod by the lien ooverod by the aforesaid monthly payments. of this Matgaga. 10. 'I~at (a) in the event of any breac:~ of this mortgage or 6. That hc will pay a4 and singular the oosts, ctuirges, and ex- defautt on ttk part ot the Mortg,agor, or (b) in the event that any penses, including reasanabk tawyer's fas, and oosts of abstracu o! of said sumc of money Aerein rcterrod to be not promptly and fully = titk, incurrod or paid at any time by the Mongagee bocause of the paid without demand or notia. or (c) in the event that each and failure on the part of the Mortgagw promptly and (uUy to perform every the stipulations. agraments, oonditions, and covenanis of the agroemenu and aovenants ot said promissory note and this said note ar~d this mortgage, an not duly. promptly, and (ully per mortgage, and said costs, charges, and exptnses shall be immediate- fermod; then in either or any such event, the said aggregate sum ly due and payabk an~ shall be securod by the lien of thi~ mentiorkd in said note then remaining unpaid. with interest ac- ~n~~, cruod to that time, and all maneys socurod t~rcby, shall boconk due and payabk lorthwith, w thereafter, at the option of said 7. That he will kap ihe improvements now existing or Mortgaga. as fully and oompktely as if all of the said sums of hereafter erected on the mortgaged property insured as may be re- money we~e originally stipulated to be paid on such day, anyihing : quired trom time to time by the Mortgaga against bss by fire and in said note or in this mortgage to th~ wntrary notwithstanding; - ~ other hazards, casualties, and contingencies, in such amounts and and theroupon or thereatter, at the option of -aid Mortgagee, for such perio~: as may be required by Mortgaga, and will paY without rwtia or demand, suit at !aw or in eq:+ity, may be pro- promptly, when due, any premiums on such insuranoe for payment socuted as if all marxys seturai hereby had matur-d prior to its in- of which provision has not ban made hercinbefore. Alt insuranoe stitutian. The Matgaga may forxlo6e this mortgag~e, as to the shal! be carried in campanies approvod by Mortgaga and the amount so doclared due and payabk, and the said premises shall be policies and renewak theroof shall be held by Mortgaga and have sold to satisfy and pay the same together with oosts, expenses, and attached thereto bss payabk ctauses in favor of and in form acap- atbwarwes. In case o( partial forocbsun of this mortgage, the tabk to the Mortgagoe. In event of ~oss he witl give immodiate mortgagod pnmises shall be sold subject to the oontinuing lien o( notia by mail to Mortgagee, and Mortgaga may make proof of this mortgagc for the amount of the debt not then due and unpaid. lo6s if not made prontptly by Mortgagor, and each ins~:rana oom- In such case ii~e Qrovisions ot this paragraph may again be availod pany oonarnod 'a turcby authoriud and ditectod !o raak~ payment of thereafter from time to tirne by the Mortgaga. ~ for such loss d"uectly to the Mortgaga iratead of to the Mortgagor and the Mortgaga jointly, and the iraurana procads, or any part I1. That he wiU givc immediate notioe by mail to the Mort- thereof, may be applied by the Mortgaga at its option, either to gagee of any oonveyana, transfer, or ch~hhge of ownership of the the reduction of the indebtodness hereby securod or to the restora- premises. tion or ~epair of the property damagod. In event of foracbsure oi this mortgage and other uansfer of titk to the mortgaged prapeny 12. That no waiver of any eovenant herein or of the obligatan in extinguisfunent of the indebtednas securod hereby, all right, titk secured hereby shall at any tirne thereaft~r be held to be a waiver and interest of the Mortgagor in and to any incurar~ce policies then of the terms her+eof or of the note secured hereby. in force sh~ll pass to the purchaser or granta. 13. That if ttie MortgEgor default in any of the oovenants or . 8. That if the premisG;, or any part theroof, be condemned agraments cantainod herein, or in said note, than the Mortgaga under any power of tininent domain, or acquirod for a public use, may perform the same, and all txpendiwres tincluding reasonable the damages, procacis, and in oonsideration tor such acquisition, co attorney's tas) made by the Morigaga in s~ doing shall draw in- the extent uf the fuU amount of indebtodness upon this Mortgage, terest at the rate set totth in the nott sxured htre5y, and shall be and thc Note securod hereby remaining unpaid, are hereby assignod repayabk immediately and ve~thoot ciemand by the Mortgagor to by the-Mortgagor to the MaKgaga and shall be paid forttiwith to the Mortgaga, and, together with interest and oosts accruing the Mortgagee to be applis~ by it on acoount of the indebtedncss thcra~, shail be socurcd by this mortg,age. socural heroby, whether due or not. 14. That the mailing of a written rwtia or demand addressed 9. That the Mortgaga may, at any time pending a suit upon to the owner of rocord of the mortgagod promises, or dirccted to this mortgage, apply to the oourt having lurisdiction theroof for the the said ownu at the tast address actually fumished to the Mort- appointment of a roaiver, and such oourt shall farthwith appoint a gaga, or diroctod to said awner at said rt~ortgaged premises, and rcaiver ot the premises ooverai hereby all and singular, including mailod by the United States maiLs, shall be sufC~cient notia and de- al! and singalar the i~coerx. profits, issues, and nvenues from rt?and in any case arising under this inswment and roquired by the whatever soura derived, each and every o[ which, it being express• provisions hereof w by law. ly understood, is hereby rt~rtgagod as if spxifically set torth and IS. The Mortgagor further covenants that shontd this mor- describod in the grsnting and i~abendum ciauses heraof, and 3uch ~gage and the note secured hereby not be eligible ior insurance ra~iver shaU have sU the ~taad and effective functionc and powers under the National Housing Act within NINETY in anywi5e enwsted by a oourt W a rooeiver, and s~ch appoint• days from the date (written statement of any afiicer o; the Depart- ment shalt be made by such court as an admittod oquity and a matter ot absolute right W said Murtga~qoe, atd withoui referena ment of Housing and Urban Development or authorized agent of to the adoquacy or ir~adequacy ot tt~e value d the property mort- the Secretary of Housing and Urban Development date subsequent gag,ed or the sotvency ot said Mortg,aga or the defertdstnts, and to the NINETY days' timE Crom the date of this that such rents, proi~ts, inoane~ issuac, and revenues shall be ap- mortgage, declining to insure said note and this mortgage, being plied by such rooeiver aooording to the tien M this mortga~e and d~~ conclusive proof' of sucb ineligibility), the Mongage~ or Paye 3 oi 4 ~~€2~ ~o~~~ _ _ _ _ -