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Home My WebLink About0937 ~ , , , ; . \ \ ~ ~ ` . . 1 ~ , : ~ , , S. That he~will permit, commit. or suffer no waste. impairment. the practice of such court. !n the event ot any default on thc part ` or deterioration of said propcrry or any part theroof; and in thc of the Mortg,agor hereundcr~ the Mortgagor agras to pay to the { event of the failure oi the Mongagor to kap the building,s on said Mortgaga on dcmand as a rcasonabk monthly rontal for the premises and those to be eroctcd on said premiscs, or improvements prtmises a~ amount at kast oquivaknt to one-twelfth (1112) of tht thcreon, in good repair, the Mortgaga may make such repairs as aggregate of the twelve monthly installments payabk in the then in its dixretion it may dam neoes..sary for the proper prestrvatan current ywr plus the actual amount of the annual taxes. thereof. and the full amount of tach and every such payment shal! assessments, wate~ rates. and insurance premiums tor such year not ~ be immediately due and payab~. and shall be securod by the liea covercd by the atoresaid monthly paymcnts. of this Mortgagee. 10. That (a) in the event of any br~ac~~ of this mortgage or 6. That he will pay all and singular the aoats, charges. and ex- default on the patt of the Mortgagor, or 1b? in the event that any - penses. inctuding reasonabk lawytr's fea, and casu of abstracts of of said sums of money hetein refertod to be not promptly and fully tilk, incurr~d or paid at any time by the Mortgagee because of the paid without demand or notice, o~ (c) in the avent that each and failure on the part of the Mortgagor promptly and fully to perform every the stipulations~ agrcemcnts, conditions, and oovenants ot the agreements and oovenants o[ said promissory natc and th~s . said note and this mortgage~ are not duly. promptly. and fully per- mortgage, and said cos~s, charges, and eapenses shall be immediate- formod; then in cither or any such event, the said aggregate sum ly due and payabk and shall be secured by the lien of this mentioned in said note then remaining unpaid, with interest ac- ~ mortgage. crued to ti?at time. and ail moneys secured hcrcby. shal) bocome due and payabk torthwith. or thcrwtter. at the option of said i> 7. That he will ketp the improvcmcnts now exicting or Mortgagce. as fully and oompktely as if all of the said sums of hcrcafter erected on the mortgaged property insured as may be re- money were originally stipulated to be paid on such day~ anything quircd from time to time by the Mortgaga ag,ainst lass by Gre and in said note or in this mongage to the contrary notwithstanding; other hazards, casualt~es, and o~f~tingencics. in such amounls and and thercupon or therwfter, at the optan of said Mortgagoc. for such peric~ds as.may be r~quired by Mortgagce, and will pay without notia or dcmand, suit at law or in equity. may bo pra promptly, when due. any premiums on such insurance for payment socutod as if all moneys socured hereby had matured prior to its in- of which Rrovisan has not ban made hereinbefore. Alt insurance stitution. Thc Mortgagee may forecbse this mortgage. as to the shatl be carried in companies approved by Mortgagee and thc amount so doclared due and payable. and the said premises shall be poli~ies and renewals thereo( shall be heW by Mortgagee and have sold to satisfy acid pay the same together with co6ts, expenses, and atwched thereto bsc payabk clauses in favor of and in form aocep- albwanas. In case of partial foreclaaure of this mortgage. th~ tabk to the Mortgaga. In event of la6s he will give immodiate mortga,ged premises shall be sold subjoct to the oontinuing lien of aotia by mail ro Mortg,agce. and Morigaga may make proof of this mortgage for the amount oi the debt not then due and unpaid. loss if not made promptly by Mortgagor, and each insurance com- In such case the provisa~u of this paragraph may again be avaikd pany oonamed is hereby authoriud and diroctcd to make payment of thereaRer from time to time by the Mortgaga. ; for such toss directly to the Martgaga instcad of to tt~e Mortgagor and the Mortgaga jointly, and .the insurana praaods. or any part 11. That hc will give imrtxdiatc notice by mail to the Mort- thercot, may be applicd by the Mortgaga at its option. e~ther to gaga of any conveyance. transfer. or change of ownership of the the reduction oi the indebtedne.~.c hereby socurod or to the restora- prcmises. tion or repair of the property damagod. In tvent of fwecbsure of this mong,age and other transfer of titk to the mortgaged property 12. That no waiver of any covenant hcrein or of the obligation in extinguishment o( the indebtedness socuted hereby, all right, titk secured hereby shall at any lime thereafter be held to be a waiver and inte~est of the Mongagor in and to any insurance policies then of the terrtu hereaf or of the note secured hereby. i in force shait pass to the purchaur or grantee. 13. That if the Mortgagor default in any of the covenanls or 8. That if thc premiscs. or any part ttiercof. b~ oondemned agramcnts oontaincd lxrein, o~ in said note, than the Mortgagee under any power of eminent clomain. or acquired for a public use. may perfotm the same. and all expenditures (including reasonabk the damages, procads, and in consideration tor such acquisition, to attorney's fas) mad~ by the Mortgaga in so doing shall draw in- the extcnt o[ the full amount o( indebtodntss upon this Mongage, terest at the rate set forth in the note sccured hereby. and shall be and the Note secured hereby remaining unpaid, are hereby assigned repayable immediately and without demand by the Mortgagor to by the Mortgagor to the Mortgaga and shall be paid forthwith to the Mortgaga, and, together with interest and oosts accruing the Morigaga to be applied by it on accaint of ths indebttdness thereon, shall be secured by this mortgagc. secured hereby, whether due or not. 14. That the maiting of a written notia or demand addressed 9. That the Mortgagee may. at any time pending a suit upon to thc owner of roootd ot the mortgaged premises, or directod ta this mortgage, apply to the coun having jurisdiction thereoi for the the said ownu at the last addrtss actually furnished to the Mort• i appointment of a rec,~iver. and such court shalf forthwith appoint a gaga, or directed to said owner at said mortgaged premises. and i ruxiver of tltie premises covered hereby all and singular, including maifed by the United States mails, shall be sufficient not+ce and de- al( and singutar the incame, pro6ts, issues, and revenues trom mand in any case arising under this instrument and required by the whatever soura derivtd, each and every of which, it being exprtss- provisions heroof or by law. ty understood. ~s hereby mortgaged as if spccifically set forth and ~S. The Mortgagor furthcr covcnants that should this mor- describod in the gtanting and habendum clauses hereof, and such tgage and tl~e note secured hereby not be eligible for insurance roceiver shalt have all the broad and effoctive functions and pawers under che Naeional Housir~g Act within 90 in anywise en[rusted by a oourt to a reaiver. and such appoint- ~ays from the date (written statement ot any ofTicer of Ihe Dc rt- ment shall be made by such oourt as an admitted equity and a Pa matter oi abaolute right to said Mongaga. and without referance ment of Housing and Urban Dcvelopment or authorizecl agent of ~ to the adoquacy or inadoquacy of the value ot the property mort• the Secretary of Housing and Urban Development date subsequent ~ gagcd or the so{veocy of said Mortgagor or the defendants, and to the 90 days' time from the date of this that such rents, proCts, inoome, issues. and reventus shall be ap- mortgage, declining to insure said note and this mortgage~ being ; Plicd by such rearver according to ihe tien of this martgage and dcemed conclusive proof of such ineligibility). the Mortgagee or i Pafle 3 of 4 y ~A 5 3~ PA~O 8~~~ ~ ~ £ _ . . ::-+t~-~ ;''S`'~.°~ . _ _ . _ ~ . _ t-~~~.-,_~-~._=+-~?~-:»-...._. ~ . ~ • : :,.3~ _ : . ; . _ : . ; ;