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Home My WebLink About1037 o r, R, :i.,~ , e [) , r, ; LT!~ C:>I!~~', n A, under (b) of paragraph 2 preceding shall pot be sufficient to pal: ground rent.i, taxes and U3essmenu and insurance prerniums, as the case mi"Y ue, when the same shall WO!1lz due and payable, then the mortgagor shall pay to the mortgagee kny amount nen'ssary to make up the deficiency, ~n or before the date when payment of such ground rents taxes, assessments, or insurance premiums snail be dUe, If at any time the mortgagor shaH tender to 'the mortgagee in accordance with the provisions of t~e Iwte secured hereby. full payment of the entire indebtedness Tepn'senW thereby, the mortgagee shall, 111 COIll- puting the amount of such indebtedr,css, credit to the account of the mortga-ror all payments made li:lder the provisions of (a) of paragraph 2 hereof which the nlortgagee has not become obligated to pay to the Federal Housing Commissioner and any balance remaining in the funds accumulated under the provisions of (b) of said paragraph 2, If thel'e shall be a default under any of the provisions of thiR mort1{agl', re- sulting in a public sale of the premises co\'Cn'<l ~ereby, or if the mortgagee acquire3 the propcl.ty otlll'r- wise after default, the mortga1{ee shall apply. at the time of the commencement of sUlh proceedings or at the time the propt'rty is otherwise acquired, the balance then remaining in the funds accumul<J.tcd under (b) of paragraph 2 preceding as a credit against the amount of principal then remaining unpaid under said note and shall prorerly ~djust any payments which shall have ~n made under (a) of said paragraph. 4. That he will pay all taxes, assessments, water rates, and other governmental or municipal charges, fines, or impositions, fur which provision has not been made tll'reinbefort." and in default thereof the ;1)ort- gagee may pay the same; cllHi that he will promptly deliver the otl1cial reu.'ipts therefor to the n:ortgagee, 5, That h(: will permit, commit, or suffer n(J waste, impairment, or deterioration of said propcrtr or any part thereof; and ill the CH'nt of thl' failure of the mortgagor to keep the buildings on sain prcmis1>s and those to bl' erected on said pn>mises, or improvemellts ttll'reon, in good repair, the mortgagee may make such n'pairs as in its discretion it may deemlll'cl'ssary for the prol~ .prt.'servation thereof, and th~ fu1l amount of each and every such payment shall be immediately due and payable, and shall be secured by the lien of this n~ortgage" 6, That he will pay all and singular the costs. charges, and expenses, including reasonable lawyer's fees, and costs of abstracts of title, lIlcurred or paid at any time by ttll' mortgagee becausf of the failure on the part ,)f the mortgagor promptly alld fu1ly to perform the agri't'nH'lIts and COH'nants of said prom- issory note and ~his mortgage, and said costs, charges, and expenses shall be immediately due and pay- able and sha1l be secured by ttll' lien of this mortgage. 7, That he will kpep the improvements now existing or "ereafter erected on the mortgaged propertv insured as may be required from time to time by the mortgagee against loss b~' fire and other haZlp'(is: casualties, and contingl'ncies in such amounts and for such periods as may be re<iuin'd by mortgagl'e, and will pay promptly, wlll'n dm" any premiums on such insurance fOI" paynH'nt of which nro\'ision haS not been made hereinlJl'fore, All insurance shall be carried in companies :lppron:d by mortg-agce and the policies and n'lll'wals thereof shall be 1ll'ld by mortgagee and have attached thereto luss payable clauses in favor of and in form accpptable to the mortj.!agee. In evpnt of loss he will gi\'e imo,ediate notiC'\~ b)' I,Tlail to mortj.!age','. and mortgaj.!pe llla~' make proof of loss if not madp promptly by mortgagor, and each lIlSUranCl' company concel'lled is tlPrl'l)y authorized and directl'd to make payment for St;~~ loss directl~' to mortgaloWl' in~;ll'ad of to nlOrtgaj,(or and I1lOrtj.!aj,(l'c jointly, alld the insul'ance Pf"()('('l'ds, or any part therf'of, may be applied by mortgaj,(t'e at its opti(lll eithpr to the reduction of the indebtedness hereby secured or to the l'l'storation or n'pair of the property damaged, In PH'nt of foreclosure of this mortgage or other transf!'r of titlp to thp mortj.!aged propt'rty in l'xtinguishllll'nt of the indebtedness secured hereby, all ri~ht, title, and interest of the mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee. ~, That the mort~ag-ee may, at any time pending a ~llit upon this mortg-age, apply to the court hav- ing jurisdiction thl'reof for the appointl1ll'nt of a rl'Ce1, " and such I.'ourt shall forthwith appoint a receiver of the premises covered herehy all and singular, induding all and sin~ulal' the income, profits, isslll's, and re\'enues from whatever source derived, pach and every of which, it being exprE,;sly under- stood, is }H'reby mortg-aj,(ed as if specifically set forth and described in the g-ranting- and habendum clauses Iwreof, and such rl'l'l.in'r shall have all the broad and l'ffl'l,tin' functions and pGwers in any\\'ise l'ntrust('d hy a court to a reCl'in'r. and such appointment shall Iw made by such court as an admitted equity and a matter of absolutl' rij..;ht to said rnortgagl'l', and without rl'f('n'ncp to the adequacy or inad- equacy of the value of till' propl'rt~' mortgaj,(ed or to till' soh'Pllcy or inso!\'('ncy of said mortgaj{or or the dl'fl'ndants, and that such rents, profits, income, issues, and revenues shall be applied by such rl'cl'iver according to thl' lit'n of this nwrtgaj.('(' and the practice of iHlch court. In the event of any default on the part of till' mortgaj,(or ht'/'('uIHh'/', thl' nlOrt~a~or agn'l's to pay to the IllI)rtl1:aj,(l'e on demand as a rl'asnn- abl<. rrw'lthl;: It'ntal for till' pn'mist's an amount at Il'ast l'quivalent to (me-twelfth ('.~) of the aggregate of the twelve ll\Onthl\' installnlt'nts pa~'abjp in the tlll'n current year plus the actual amount of the annual taxl's. ass('ssml'nts, wat('r r;,t('s, and insurancl' premiums for such year not con.red by the aforesaid monthly payn:ents, . .9, The ,mortgagor furtlH'r (,(~vl'~lants that ,should this 11,10 rtgag~' awl t,t,le note secul'ed hl'rehy 1Iot be eligible for rnsurance '.!ndt'r the ~at!Onal Houslllg Act wlthrn 60 C.I.., R from th(. date hereof (written statl'ment of am' oflicl'r of the Fpderal Housinj.! Administration or authorized agt'nt of the Fedl'raJ Housing COlllllii~~ioner dated subsequent to the <.:'~):'88al( tinw froll! till' date of this mortgage. declin!nj,( to insul'!' said 1I0te and this mortj,(aj,((', lH'inj,( d('('llll'd c"ndu~;iH' proof of such in- eligibility), the mort1{aget' or the holder of the note may, at it.." option, declare all sums sl'('urpd hereby immediately due and payable. 10, That ((I) in the event of any breach of this mort~a~f' or default on th<' part of the mortgagor. or (b) in the ('\"Pnt that any of said sums of mone.... herein reft'lTed to be !lot promptly and fully paid with- out demand or notice, or (r) in the event that each and every the stipulations, aj.!reements, conditions, and COVl'nants of said 110tl' and this mortgage. ar" not dul~'. promptly. and fiill~' pPI'fortlll'd; thl'n in either 01' anv such f'\'el1t, the said aggregi,tp sum mpntionf'd in said note thpn I'l'mainin;r unpaid, with interest acc':ul'd to that time. and I'll motleys sl'cured herehy, shali !wcop.w due and para!,!!' forthwith, or ther!'after, at the option of said mort~as;:ee, as fully and complct\'l~' as if all of Ow s<.id sums of money were orig-inaliy stipulated to bl' paid on such da~', anythinF; in sairl !lot(. or in this n~o/'tgage t~) the contrary notwithstandinK; and th,'reupon o!" thereaftPr, ::>.t the opt\('n of saId mortg-agpe, WIthout not!l'l' or ~lel'0an9' suit at law or in equity, may be prosecuted as if all moneys secured hereby had matured prIPr to Its iIlstl- tutjon, The :llortgagl'l' may forl'c1o;,,> this mortgage, as to the ~moun,t so declared due and pa~'abh" and the said premises shall he sold to satisfy and pa~' the same tog-ether WIth cost", expenses, ~nd allowances. In case uf partial forpchsurp of this mortga${l', the mortgaged premises shall b~ sold subject to the con- tinuing lit'n of tI',is mortj,(age for the amount of tlw deht not then .i~le and u,npald, In such case the pro- visions of this paragraph may a~..in be a\'ailed of thprpaftpr from tIme to time by the mortgagee, 11. That the mortgagor will g-i\'e immpdiate notice by mail to the mortgagee of any conveyance, transf\.'r, or change of ownership of the pr.~mises. 12, That no waive'" of an\' covpn:1Ilt herein or of the ohligation secured herehy shall :.t allY time thereafter lJe held to be a \\ ai':'er of the terms hereof or of the note secured h ei'e by. ~-~. :; =~' ~~;r-",lo:,.~~~ 6.. :$"._ ".. _.. 4-:'. ~~. '.. ". _~ _ ~ ._...:-1;... :" - ~ .- ~~__~_" ::_~,:~~-" _ .....~ ~:. ~".~-,"-