HomeMy WebLinkAbout2434~' .iii) ~ ~ ~ iDit wl'~t t~M pNN~ ~NOOiIf dtM aid
~ t-e eaN >saF ~t ip~~the ~ oe' ~
. ~ ~pglnan Oi /E1Cl•+~~ras~ t~ ~~~ prsmi~s ba dw. + ~
~t adjr timg t~f m03't~ot taRaat b0 tAe nnattgapa ire aeooordaa~oe with ~ praMrisbgs of the rpq
~tlite~~ - ~t}YO rt~'f dDM/ ~. ~ ~
tlM ~e~vida~~ ~) ~ belaaa ~ ax !o tTw iq®de a~oamndat~d~the pravisi0as
Ofd ~ ~. u thane be a d~G~fIK It00~! i~ 0~ t~Yd ph0'~i~OO~ ~ pia S'~'
salting f3 ~p~~1~1i0 ~ a[ ~S p!/ OOYne'~d h~b~ ~0! it t~ m~a~ t~ 1~p~Y
~p~r, at the t#me at tde of such proceeds o>! at
theme tln ~ proms ia~~rtb~ ~o~1~dn~ the balimoe tMn in the fimda atxwnulated ~rnder
(b) of ~ ~ a I~it against the anwnntzi~ jppal thaw raeaaining nnpadd Hadar
safd nob shrill prnp-p~q- a4?~t atU- pU+'~ta wbicb shaA bare b~ mach Hadar (a) ad said Par~tra~l~.
_4. 1'hst ha wiD pq aD taus. weasmenb. water rates. and other goreramsab~l or manidpal dines.
gages ~ ~saaf~e a~nd~tbat~ ~ p~rosn~pt~y delivear~ a ogi~Cial r~eosi~ thintar ozti~~
6. That 1m will permit,, ooo4nnit, or seater no waste, impairment, or deterioration of said property or
any vart thereoi- and in the want ~ the iaifir~a o~ the mortgagor to keep the build on safe premises
and ose to be erected on said premises. or rovement thereon, in good repair. a mortgagee may
make arch repair as in its discretion tt necessary for the proper preservation thereof, and the
full amount of each and every arch be. itnssadistely dne and payable. and'ahaU bs secured
by the lien of this mortgage,
8. That he will pay all and ~ the Data, charges, and eocpenses, inoll~rdiag reasonable Lsryer'a
iees~ sad oats of abstracts of titles rred or paid at soy time b7- the mortgsgpe becanee of the failure
on the part of the mortgagor promptly and ~y to' perform the agreemeataand covenants of acid prom-
issory note and this mo tga~e~ and said eata~~ chat~es. and esper~es shall be immediately due and pq*-
abk and shaD bs secured b~ y tie lien e[ this mortgage. '
7. That be willr~;eep the improw®aesrts Haw es~ating or ha~ibs~~r erected gp.toe property.
insured as be mired front meet wand to~ ode as may obey ~pi~ed~ hazards.
casualties. and contingencies ins Pert requ
and will pay ppraonptU- when due, say premiums on such insurance for eat of which proviaioaias
not been made h'erdn~afore. All ituuranoe shall be carried in Doan es approved by mortgagee and
the policies and senewsL thereof shall be held by mortgagee and ve attached thereto loss payable
clauses in favor of sad in loan axeptable to the mortgagee. , In event of loss he will give immediate
notice ~byr mail to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagor,
and each insurance company concerned is hereby aathoriud abd directed to make payment for ouch
loss directly to mortgagee instead of to mortgagor and mo jointly. and the insurance proceed. or
any part thereol, may be applied by mortgagee at its optian~ M the rednctioa of the indebtedneaa
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 properky in extin~uiahment of the indebtedneaa
~~ hereby, allunk title. and interest of the mortgagor in and to say maurance policies then in force
shall pass to the p or graatee.
& That the mortgasee may. at any time pending a snit neon this mortgage. sp+ply to the court hav-
ing jurisdickion thereof for the appointment o! a reoaiwr, and such ooart shall forthwith appoint a
receiver of the premises covered hereby all and singular including all and singular, the income. profits,
issues. and revenues from whatever scarce derived, each and every of which, it being expressly under-
stood, is hereby mortgaged as if apec~Rcs11Y set forth and described in the granting and habendum clauses
hereof, and each receiver shall love all the bread and ettiective fanctions and powe*s in anywise
entrusted by a coati tD a reodver, and snap appoinrtment shall be made by each court as an admitted
equity and a matter of absolute right to said mortg and without reference to the adequacy or inad-
e solvency or insolvency of said mortgagor or the
equacy of the value of the property mortgaged or to
deSendanta. and that such rents. profits, income. issues, and revenues shall be applied by such receiver
acxordiag 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 reason-
able monthly rental for the ppremu~es an amount at least equivalent to one-twelfth (~:) of the aggregate
of the twelve monthly installment payable in the then current year plus the actual amount of the annual
taxes asaeesment, water rates, and insurance premiums for such year not covered by the aforesaid
monthly payment.
9. The mortgagor further covenant that should this mortgage and the note secured hereby not be
eligible for insnraaca ender the National Honsu~g Act within 30 DAYS fry the date hereof
(written statement of any olRcer of the Federal Homing Administrst on or authorized agent o! the
Federal Housing Co:nmissioaer dated subsequent tD the AYS liras from the date of this
mortgage, declining'to inanre said note and this mortgage. rag deemed conclusive proof of such in-
eligibility). the mortgagee or the holder of the note may. at it option, declare all sums secured hereby
immediately due and payable.
10. That (a) is the event of star bttiadi of this mo or default ~ the part of the mo~gag~r or
(b) in the event that any of said sums of money herein referred to be not promptly and fully paid w~th-
oat dectaad or notice, or (c) in the event that each and every the stipulations, sate, conditions.
sad coveasat of said note and this mortgaga~ are not duly. promptly. and fnl~ormed; they in
either or any such evenk the said stun tezentioned in s~aiidd cote then remaning unpaid with
interest accrued to that time, and all nnoneprs secnrcd barmy. shall become due and payable iort~with.
or thereafter, st the option of acid mortgagee, as fully and completely as if ail of the said sums of money
were originally atipalated to be paid on arch day. aaythin in acid note or in this mortgage to the contrary
notwithstanding; and thereupon or thereafter st the op~on of said mortgagee. withart natioe or demand,
snit at law or in equity, maybe prosecuted as i~ sfl moneys secured hereby had mstnred prior to fta inati-
tntion. The mortgagee may foreclose this mort~a~e as b the amount w declared due ~ Psa~~lwinces.
the said premises ahaA be sold to satisiy- and pay_ tTie same together with cost, eacpenaes. d
Ia case of partial fotreloanre of this mortgage. the m Ps'~~ shall ~ eon sub'eet to the coa-
tinniag Uen of t~ia mortgage for tie amount of the ~~ t~t+oan ~ ~ t~iane ~ ~ ~°-
visions of this paragraph maJr again be availed og th
i il. That the mortgagor wiD give innrmediate notice L+Ir mall to the mortgagee of any oonveyaaos„
transfer, or change of ownership of the premises.
12 That ao waiver of arty ooveasAt hstrin or of the oblip-t~ion secu~esil ehan at any time
thet+er-iter ba held to be a waiver oZ the terea hereQt er of tlw sot~e Maned 1~Y•