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Home My WebLink About0970 ~ ~ • ~ ~ , , - . ' ~ ~ ~ ~ ~ . • , ' . _ . S. That he will pttmit, oommit, or suffer no waste, impairment. the practia of such court. ln the event ot any default on the part or deterioration of said property or any part thereot; and in the of the Mottgagon c~teunder, the Mortgagor agroes to pay to the event of the tailun of the Mortga~or to kap the buildings on said Mortgagoe ai demand as a reasonabk monthly nntal for the premises and thoso to be erocted on said premises, or improvunents premises an amount at kast equivaknt to one•twelfth (1112) of the theroon, in good rcp~air, the Mortga~ee may enake such repairs as aggrcgste ot the twelve monthly installments Qayebk in the then , in its discretion it may deem nooessarY [or the proper preservation curnnt year plus the actu~l amount of the annual taxes, thereof~ and the full art~ount of each and every such payment shall assesunents, water rates. and iraurana premiums [or such year not be irimmediately due and p~yabk. and shall be secured by the lien oovered by the aforesaid monthly payments. • of this Mortgagoe. 10. That (a) in the event of any brcac~i of this mortg,age or 6. That he will pay all and singular the oosts, charges, and ez- detault on the put ot the Mortgagor, or (b) in the event that any . per?ses, including reasonabk lawyer's foes, and oosts of abstracts of of said sua~s ot money herein referrcd to be not promptly and fuily . tiele, incurred or paid at any time by the Mortgagoe because of the paid without demand or notia, or (c) in the event that each and failure on the part of the Mortgagor promptly and fully to pe~form every the stipulations, agraments, oonditions, and oovenants of the ageements and oovenants ot ssid promissory note and this said note and this mortga~e, are not duly, promptly, and tully per- mortgage, and said oosts, charges, and expenses shall be immediate- formod; then in either or any such event, the ssid aggregate sum ly due and payabk and shall be secured by the lien M this mentioned in said ~wte then remaining unp~id, with interost ac- ~ngeg~, crued to t6at tirne, and ali moneys secured htrcby, shali ba~ome due and p~yabk forthwith, or thereafter, at the option of said 7. That he will kap the improvements now exi~ting ar Mortgag~ee, as tuQy and oompktely as if all of tt?e said sums d hereafter erocted on the mortgagod property insured as may be rc- money were originally stipulat~d to be paid on such daY, anything quired from tirru to time by the Mortgsga agsinst bss by tue and in said nae or in this mongs~e w the oonuary notwitlutanding; other hazards, casualtias, and oontingencies, in such amounts and and thereupon or thereaftu, at th~ option of said Mortgagee, for such periods as inay be toquited by Mortgaga, and wiq pay without notia or demand, suit at law or in oquity, may be pto- promptlY, when due, any pc~emiums on such insuranoe for payment secutod as if all moneys sxured hereby had matured prior to its in- af which provision has not bo~n made heceinbefon. All insurana stitution. The Mortga~ee may forociose this nwrtg~a~e, as to the ~ shall be carriod in oompanies a~oved by Mortg,agoe and'the amount so dodared due and payabk, and the said premises shall be policies and renewals thereot shall be heW by Mortga~oe and havo sold to satafy and puy the same togeth~r with oosts. ezptr~ses, and attachod thereto loss payabk clauses in favor d and in form acap~ albwanoes. In case of partial faeclo6ure of this mortgage, the tabk to the Mortg~agoe. In event of loss he will give immediate mortgaged premises shall be sold subjoct to the oontinuing lien of notice by roail w Mortgagoe, and Mortg,aga may make proof ot thic mortgage for the artaunt of the debt not then dut and unpaid. loss if not made pranptlY by Mortgagor, and each i~uuranoe oom- ln such case the provicions of this paragraPh may ag,sin be availed pany conoerned is hereby authorized and directed to make payment of thereafter lrom time to time by the Mortgaga. ' for such loss diraKly to the Mortgaga irutead of to the Mortgagor ; and the Mottga~a joindy, and the insurana proooods, or any part 11. That he wiU give immodiate notice by mail to the Mort- ~ theroof, roay be applied by the Mortga~ee at its option, either to gaga of any oonveyana, transfer, or change of ownership of the - the reduction of the indebtedness htrcby socurcd or to the ratora• premi~es. tion or rcpair of the property damagod. In event of forcclosun of thic mortgage and other ttansier of titk to the mortgaged property 12. That no waiver of any covenant herein or of the obligatan in extinguishment of the indebtodneu socured hereby, all right, titk secured hertby shall at any tirn~ thoreafter be held to be a waiver and interest ot the Mortgagor in and to any insurana policies then of ehe terms hereof or of the note securod hereby. in fora shaU pass to the purchaser or granta. 13. That if the Mortgagor default in any of the oovenants or 8. That if the prcmises, or any part dxreof, be oondemned agraments oontained herein, or in said note, than the Mortgagx under any power of eminent docnain, or aoquircd for a public use. may perform the and aU expenditures (including r~asonabk the damages, prooeeds, and in oonsideration for such soquisition, to attomey's fas) made by the Mortgaga in so doing shall draw in- the extent of the full amount of indebtod~ess upon this Mortgage, terest at the rate set forth in the note socured hereby, and shall be and the Note secured henby remaining unpaid, are hercby assigned repayabk immodiately and without danand by the Mortgagor to by the Mortgagor to the Mortg,aga and shall be paid forthwith to the Mortgagoe, and, w~ether with interost and oosts aocruing the Mortgagoe to be applied by it on aooount of the indebtodncss ther~on, shall be sa:urod by this mortga~e. sccured hereby, whether due or not. 14. Ttist the mailing of a written notioe or demand addresssd ~L 9. 'Tt~at the Mortgaga may, at any time pending a suit upon to the owner of rooord d the mortga~ed pnmises. or diractod to this mortgage, apply to the oourt having jurisdiction thereof for the the said owner at the last address actually furnishod to the Mort- appointment of a rooeiver, and such oourt shall forthwith appoint a gagee, or directed to said owner at said mortg,aged premises, and receiver of she premises oovercd hereby all and singular, including maik~ by the United States mails, sha0 be suffiicient notia and de- all and singular the inoonx, profits, i~sues. and nvenues trom mand in any c~se arising under thic instrument and requircd by the whatever souroe derivod, e,ach and every oi which, it being express• provisanc heroof or by law. ly undarstood, is hereby mortgaged as d spocifically set torih and 1S. 7'he Mortgagor further covenants that should this mor- described in the granting attd habendum clauses heroof, and such ~gage and the note secured hereby not be e~~bilr~or insurance reaiver at~all have all the broad and effoetive lunctior~ and powers under the National Housing Act within Y. in anyvrise entnuted by a oourt W a rooeiver, and such appo~nt- ~ys from the date (written statement of any officer of the Depart- matt shall be made by such ~ourt as an admitted oquity and a raatter o~ absolute right W said Mottga~oe, uid wiltwut referenoe ment of Housing and Urban Development or authorized agent of to the adequscy or irsadeqt~acy af the value of the ptoperty mort- the Secreta~o~ H~using and Urtran Devdopment date subsequrnt gag,ed or the solvency of said Mort~or or the deftnclanta, and to the r Y days' time from the date of this that such nnts, protita, it~oorrk. and tevenuea attall be ap- mortgage, declining to insure said note and this mortgage, being plied by such reaiver aooading W the tiat of this mortgage and deemed conclusive proof of such ineligibility), the Mortgagee or Page 3 of 4 ~05~3 ~a~0969 ~ - . - - - - _ _ - . _ _ . s _ . _ . . . ;