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Home My WebLink About1088 q. LUCIE COllNn, H!.. QIlde (b) of p&r~ph 2 precP.din~ !'hall not be su.fl\e:ient to pay l'l'Ound rents, ~X~8 arid ~Ue8S'TIen~ &J"Id in.:mran~e premiumAr as the cue may be, when the u.me shaH become due and payable, then the mo~r shall paJ W the mort~agee any amount necessary to make up the deficiency, on or before the date when payment of luch ~round rents, tuee, auaament3, or insurance premiums shall be due, If at any time the mortca~or &hall tender to thP. mort~agee in accordan~e with the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the mortgallee shall. in rom- puting the amount of such indtbtedneu. credit to the account of tile mortgagor ali payments made under the proviaions of (4) of paragraph 2 hereof which the mort~agee haa not become obligated to pay to the Federal HOUDing Commisaioner and any balance remainini in the lunda accumulated under the provisions of (b) of lAid pal"~aph 2. If there shall be 3 default under aHY of the provisioIUl of this mortl{agl', ra- .ultin~ in a public sale of the premisea covered hert'by, or if the mortgayee acquires the propert} other- wise after default, the mortgagee shall apply, at the time of the commencement of such pron'l'{\inI{S or at the time the property is otherwise acquired, the balance then remaining in the funds arculllulatt'd under (b) of p&r8.iTa.ph 2 precedinS.as a credit against the amount of principal then remaining unpaid un,:l'r laid note and shilll properly adjuat any paymenta which shall have been made under (a) of said paragraph. 4. That he will pay aU taxes, &abeNlllenta, water rat..ea, and other governmental or municipl'l charges, 1\neA, or impoaition8, for which provision haa not been made hereinbefore, and in defauil ther:' Jf the mort- I'~ may pay the aame; and that he will promptly deliver the official receipt8 therefor to the n:ortgagee, 5. That he will pemlit, commit, or suffer no waste, impairment, or deterioration of said property ur any part t;hereof; and in the event of th~ failure of the mortgagor to keep the buildings on saiti pl"L.mises and thoac to be erected on said premises, or improvements thereon, in good repair, the mortgagee may make such repairs &8 in iu diaaetion it m&.y deem necessary for the proper preservation thereof. and the full amount of each and ev&ry such payment flhall be immediately Que and payable, and shall be secured by the lien of chis mortgaae. 6. That he will pay all and singular the coeta, charges, and expenses. including reasonable lawyer's fees, and costs of abstracts of title, incurred or paid at any time by the mortgagee because 'Of the failun, on the part of the mortgagor promptly and fully to perform the agreements and cownants of said prom- isaory note and this mortgage, and Enid (.Osts, charges, and expenses shall be immediately due and pay- able and ahall De secured by the lien of this mortgage. 7. That he will keep the improvements now exi5ting or hereafter erected on the mortgaged property, iIUlured as may be required from time to time by the mortgs.get against loss by fire and other hazards, C&8ualtiea, and contingencies in s~ch amounta and for sucn periods aa may be required by mortgagee, and will pay promptly, when due, any premiums on BUCn iIUlurance for payment of which provision has not been made hereinbefore. All insurance shall be carried in companies approved by mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto loss payable clauses in favor of and in form acceptable to the mortgagee. In event of loss he will give immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly by mortl{agor. and each inaurance company concerned is hereby authorized and directed to make payment for such Iou directly to mort~agee instead of to mortgagor and mortgagee jointly, and the insurance proceeds. or any part thel'eof, may be applied by mortgagee at its option either to the reduction of the indebt~,ctlless hereby KCured or to the restoration or repair of the property damaged, In event of foreclosure of this mort.aJaee or Qther tranafer of title to the mortgaged property in extinguishment of the indl'btedness aecured hereby, all :i.'ight, title, and interest of the mortgagor in and to any insurance policies then in force aball pua to the purchaser or grantee. 8. That tIle mortgagee may, at any time pending a suit upon this mortgage. apply to the court hav- i~ jUJ:>iadicti(ln thereof for the appointment of a receiver, and such court shall forthwith appoint a receiver of the premises covered hereby all and singular, includi:lg all and singular the income, profits, wues, and revenues from whatever source derived, each and every of which, it being expressly under- stood, is hereby mortpgerl as if s~iftcalJy set forth and described in the granting and habendum clauses hereof, and I'ueh receiver Ihall have all the broad and effective functions and powers in anywise entrulJted by a court to a receiver, and IUch appointment shall be made by such court as an admitted equity and a matter of abaolute ril'ht to said mortgagee, and without reference to the adequacy or inad- equacy of the value (If the property mortgaged or to the solvency or insolvency of said mortgagor or the defendanta, and that Juch renta, profits, income, isaues, and revenues sha\! be applied by such receiver according 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 &3 a reason- able monthly rental for the premises an amount at least equivaient'to one-twelfth (~/12) of the aggregate of the twelve monthly iIUltailments l>ayable in the then current year plus the actual amount of the annual t&x~l ,aaaeaamenta. water rates, and iIUlurance premiums for such year not covered by the aforesaid montnly paymelita. 9. The mortgagor further covenanta that should this mortg9-ge and the note secured hereby not be eliiible for inaurance under the National HOU8ini Act withinl r':",(5 from the date hereof (written statement of any officer of the Federal Homing Administration or authorized agent of the Federal n~Uli~a. Com~il8ioner ~ated lIub8equ~nt to the ")r !"\~v~ time. from the date of this morta'aae, deehIll~ to lll6ure a&ld note and thll morliage, beln~ dl't!rned conclUSIve proof of such in- el~ilfty), the mortpaee or the holder of the note may, at ita option, declare 9.1\ sums se<:ured hereby 1mmed1ak4 due ud pliYahle. . 10. That (eI) in the event of any breach of thia mortgage or default on the part of the mortgagor, or (b) in the event ~t any of ..id SumA of morley herein referred to be not promptly and fully paid with- GUt demand or noti~ or (e) in th.e event that each and every the stipulations, agreements, conditionl, md covelUmbl of Uld note ~d uu. mortiage, are not. duly, promptly, and fully performed; then in either or any auc:h event, the laid awegate awn mentioned in said note then remaining unpaid, with intereet accrued to that time, an~ kn money. aecured hereby, shall become due anrl payable forthwith, Of'thereafter, at the option 011&ld mortgagee, AI fully and completely as if an of the said sums of muney were originuUy .tipu!aterl to be paid on IUch day, anything in said not.e or in this mortgclge to the contrary 'IlOtwithstandi~; ~d thereupon or thei'Wter, at lhe option of 88:d mortpgee, without notice or demancl, wit at laW' or m eqUity; may ~ proeecu~ &8 if all money. aet.ured hereby had matured prior to its insti- taUor.. 'n1e morljr&{ree may loreeloae thu mortgage, &I to the 8Inount '0 declared due and payable and me aa!d premiact ah~t ,he 10M ~ ..tiafy and pay the aame together with c08t1, expe~. and a1\owa~ceh. h eaae of putie' foreclOlu1.'8 of thia mortlACe, the mort~ged pre:niAeB ,han bf' sold subject to the con- t:bJ1.1iq 1i~ of t\UI morta&18 for the amou\!t of the debt not then due and unpaid. In luch cue the pro- ..!oDs of this pu~ may ap1n be availed of thereafter from time to time by tha mortgaget'o U. That the mortp,gor will give immediate notke by mail to tht! mortPl'ee of any r.onveyance, traMter, 01' eht.np of ownership ot the premilea. - 12. That no waiver vi any C01enant herein or of the obligation aecured hereby ahAlI at any time ~ 1M MId to be a .alVei' at the tmnI hereof or 01 the note aecured hereb1. - ~