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Home My WebLink About0955 ~ ~ , . ~ f i ~ i . . l . • 1, • . - - - - _~_.....___.r~_~_____. - - - - - - ~ ~ 'i 1 . S. That he wiil permit, oommit, or suffer no waste. impairment; the practia ot such oourt. In the event of any detauh on the pan w deterioration of said prope~ty or any part theroot; and irt the of the Mortgagor hercunder, the Mortp,gor agras w pay to the event of the failure of the Mortgagor to kap ttu buiidir~gs on said Mortgaga on dwnand as a roasonabk monthly rental tor the prernises $nd those to be erocted on said pcemises, or improvements pnmises an amount at least equivaknt to onatwelfth Ull2) of the _ thoroon, in good repair. the Mortgagae may make sucb npairs as aggregate of the twelve monthly inatallitknts payabk in the then in its ducrction it may doem neassary tor the prope~ preservation curnent year ptus the actual anwunt of the annw! taxes, thereof, and the full arr~ount of e,ach and every such payment shail assessments, water rates, and insurana premiums for such yar not be immtdiately due and payabk, and shall be securod by the lien oovered by the sforesaid rtwnthlY payments. of this Mon$aga. 10. That (a) in the event of any breach of this mortgag,e or 6. That he wil! pay all and singular the oosts. charges, and ez- default on the part of the Mortgagor, or (b) in the event that any penses, including reasonabk lawyer's fas, and oosts of abstracts of of said sums of money txrein referrod to be not promptly and tutty titk, incumed or paid at any time by the Mortgagee ba;ause of the paid without demand or natioe, or (c) in the eveat that each And failure on the part of the Mortgagor promptly and fuUy to pertorm every the stipulations. agrcecnents, ootditions, and covenants of the agreements and oovenants of said prort?issory raty and this said note and this mortga~e, ate not dulY, P~P~Y, and tully per. mo(tgage, and said oosts, charges. and expenses sha11 be ~nmediite• fom~od; tlxn in either or any su~h avent. the said agsc+egate sum ly dtu ~nd payabk and shaq be secutod by the lien of this rnentione~d in said note then ~emaining unpoid, with intenst ac- mon888~. cruod to that time, and al! moneys se~ured ttet~by, shali booonk due and payabk torthwith, or thetatter. at the option of said 7. That he wiq kap the improvements now existing or Mortgagne, as fupy and oanpkcety as J a!1 of che sa;a sums of hereafter erected on the mortga6ed Property insurod as may be re• rtwr:ey were originally stipulated to be paid on such day. anYthn?B quirod trom time to time by the Mortga~oe ag,sinst loss by fire and in said note or in this mwtga~ee to the oontcary ~wtwithstanding; other hazards, cacualtiGS, and oontingencies. ia such amounts and and theroupon or thereatter, at the option of said Mortgaga, for such periadt as may be nquired by M~rtg~gee, u~d will pay wiihout notioe or demand, suit at law or in equitY+ ~Y ~ P~ promptlY, when due, any premiums on wch insuranoe fa p~ymcrtt socutod as if al! moneys socured hereby had maturod prior to its in- of which provision has not ban made hareinbefore. All imuranoe stitution. The Mortgagee may forecloee this mortg,ye, as to the shall be carried in oompanies approvod by Mortgagee and the amount so declued due and pryabk, and the said pranises sl~all be policies and renewals thereof shal! be held by Mortgs~ee and have sotd to satisfy and pay the same to~ether with ooats, expenses, and attached theroW bss payabk clsusas in favor of arid in torm aoap~ albwanas. In case of p~rtial foroclosure of thg mort~e~ the tabk to the Mortgagee. In event of loss he wili give immodiate mortg,ag~ed prcmise,s sbali be sold subjoct to the oontinuing lien of notia by mail to Mortgaga, and Mortgaga may make proof of this mortgagt tor the aa~ount d the debt not then due and unpaid. loas if not mack P~P~~Y bY Mort8a8a. and each insurana oom- In such case the pmvisions of th+s psragrxph nwy again be avsibd pany oonoerned 'a bereby authoriud and diroctod to make payment of therestter irom tune to tiroe by the Mortga~oe. for such bss directly w the Mang~ee instead ot w the Mortgagor and the Morta,a8~ 1~UY, and the insurana Draooeds, or anY p~rt 11. That he will give imroediate notia by mail to titie Mort- theroof, may be appliod by the Mortg~ee at its option, either to ga~oe Qt any conreyarxx, tramfu, or chsn~e M ownership of the the ~eduction at the indebtodness hereby securod or to the ratora• premises. tion or repair of the property dac~g,ed. [n event of foroclosun of this mo~ and other tranSfer ~ titk to tttie mottg,sged property IZ. That no waiver of any oovenant henin or of the obli~ation in extinguishment of the indebtedr~ess securod henby, a!! right, titk secara! hereby sha!! at any tune therealter be heW to be a waivec and interest of the Mortga~or in and to any insuran~e policies then of the terms heroof or oi the note socurod hereby. in foroe shall pass to the purchaser or grantoe. 13. That if the Mort~agar cktauft in any d the oovenants or S. That ef tf~s pnmises, or any part theroof, be oondemnod agraments oor?tained herein, or in said note, than the Mortg~gee uc~der any pawer of emir~ent domain, or aoquirod [or a public use. may perform the sAme, and atl expenditures fincludina reasorwbk the dart?nge,s, procads. and in oonsideration for such ~quisition, to attorney's tas) made by the Mort~ in so dang stwll draw in• - the extent oi the tull amount ot indebtodness upon this Mortgage, tercst at the rate set [orth in the rate securod hereby, ~nd atnll be and the Note sxured bereby r~anaining anpaid, are hend~Y aai8ried rq~oYabk immodiately and without demand by ths Mortga~or to by the Mortg,sgAr w the M~ and shall be paid forthwith to thc Mortg~ee, and, w~ether with intercst and casts aocruing - the Mortgagee to be sppiiod by it on aooount of the indebtodness thereon, shall be securod by this mortga~e. ~ ~ securod hereby, whether due or not. 11. That the tnaitu?g d a written notia or danar~d addressed 9. That the Mortgsgoe may~ at any time pcndir~g a suit upon to the owner of reoord o[ the mortgagod premises~ a dirxtod to this mortga~c. aPP~Y W the oourt having jurisdiction thereof for the the said owna at the Isst address actuaily lumished to the Mott- appointment ot a reaiver, and auch oourt si~aU forthwith appoint a gagoe, or d.irocsed to said owner.at said mortgagod pranises, and reaiver of the premise~ oorered hcreby ~U and singular, including maikd by tbe Unittd States mails, shall be suft'~cient notia and da- a!! and singular the protits, i~ues, and revenues trom mand in any case arisina w~der this instrurtxnt and roquircd by the whatever wuree aerived, esch and every of which, it bang express- provisior~s heroof or by aw. ly understood, is hereby mat~god as if spoaficatly set forth and 15. The Mortgagor further covenants that should this mor- deseribod in the g~anting and haberdum clsuse.s her~eof, snd such tgage~and the note secured hereby not be eligible for insuranct nceiver ahaU have aU the braad and efixtive funetans and powers under the National Nousing Act within NIHEIY in anywise enttustod by a aourt to a[eoeiver, and such appoint- ~ys From the date (written statemcnt of any offecer of the Dep~rt- met?t ahall be made by wch oourt ss an ~dmitt~ed oquity and a ment of Housin and Urban Deveto ment or authorized a ent of matter of absolute right to sa~d Mc~rtga~ee, snd witbout rtierena 8 p 8 w the adequacy a inadequacy ot the value af the property mort the Secretary of Housing and Urban Dtvelopment date subsoquent SaB~ a~~~~Y ~~d M~tga~ot w the defe~dants. and to the Nj~ days' time from the date of this that such rents, profits, inoonne, issues, and revenua sha11 be ap~ mortgage, dectining to insure said note and this mortgage, being plied by such roxivu aooording to the lien of this mortgage atxi ~ deemed conclusive proof of such ineligibility), the Mongage~e or i , Pa~e 3 ot 4 ' so~K 5~~2 ~E 954 . ._1. _