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Home My WebLink About1411 .p. "'~ . ":T, I.UClf CI''-'HTYt h....;,. . under (b) of paragraph 2 preceding s~all not be sufficient to pay ground rents, taxes and a.aaesaments and insurance plemiums, as the case may be, when the same ?hall become due and payable, then the mortgagor shall pay to th(' mortgagee f.ny amount necessary to make up the denciency, on or before the date when payment of such ground rents, taxes, a.8Se8smenUl, or insurance premiums shall be dUe. If at any time the mortgagor shall tender to the mortgagee in accordance with the provisions of the note sL'<.'urcd hereby, full payment of the ,entire indebtedness represented thereby, the mortgagee shall, in tom. puting the amount of such indebtMness, credit to the account of the mortgAgor all payments made undel the provisions of (a) of paragraph 2 herc-{)f which the mortgagee has not become obliiated to pay to the Federal Housing Commissioner and any balance remaining in the funds' accumulated under Ht'e pro\'isions of (b) of said paragraph 2, If thel'~ shall be a default urder any of the provisions of this mortl{age, re- sulting in a p~blic sale of the premli>es covered hereby~ or if the mortgagee acquirell the property other- wise after default, the mortgai{ee shall. apply, at the time of the commencement of such pr()('L'e(lin~s or at Hw time the property is otherWIse acqUIred, the balance then remai.linK in the funds accumulatl'd under (b) of paragl-a,)h 2 preceding as a credit against the amount of principal then remaining unpaid under said note and shall propl'rly adjust any payments which shall have been made under (a) of said paragraph, 4, That he will pay all taxes, assl'ssments, water rates, and other governmental or mur.icipRl charges, fines, or impositions, for which provision has not bef'n made herein'trefore, and in default thert'of the mort- gage., may pay the same; and that he will promptly deliver the official receipts therefor to the n~fJr~gagee, 5, ThRt he will permit, commit, or sufTer no waste, impairment, or deterioration of said property or any part thereof; and in the l'wnt of the failure of the mortgagor to keep the buildings 011 sai(i premises and thos(' to be l'TL'ch>d on said prenlises, or improvements thereon, in good repair, the r.lOrtgagt'<' may make such repairs as in its disadion it may deem necessary for thE' proper preservation thereof, and the full ame-unt of each anll every such payment shall be immediately due and payable, and shall be secured by the lien of this mortgage, 6, That he will pay all and singular the costs, charges, and expenses, including reasonable lawyer's- feeR, and costs of abstracts of title, in/.'urred or paid at any time by the mortgagee because of the failure on fill' part of the mortgagor promptly and fully to perform the agreen1l'nts and cO\'l'l'ants of said prom- issory note and this mortgage, and said co!>ts, charges, and expenses shall be immediately due and pay- able and shall be secured by the li',m of this mortgage, 7, That he will keep the improvements now existing or hereafter erected on the mortgaged property, insured as may be TL'quin.d from time to time by the mortgagee against loss hy fire and other hazards, casualtir.s, and contingencies in such il.mounts and for such periods as may he rl'qllin'd by mortgagee, and will pay promptly, wll\'n dlll'. any premiums on such inSllran::e for payment of which provision has not been malle herein!)t'fllfl', All insurance shall be carried in companies apprl)\'l'd hy mortgagl'l' and the policies amI rellewals therl'of shali bl' held by mortgagee and have attached thereto loss payable clauses ill favor of and in form acceptable to thL' mortgagee, In event of loss he will gIve immediate not ice by mai I to IIlort~a~l'l'. and mort~agl'l' Illay make proof of loss if not made prom ptly oy mortK'agor, and each insuram'p company ('on('t'rned is hen'by authorized and directed to make payment for such loss din'elly to mort~agl'l' in~,kad of to m(lrt~a~(lr and mortgagee jointly, and the insuranre procef'ds, or any part tlH'reof, may bl' applit.d by mort~a~('t' al its option either to the reduction of the i ndebkdness hereby secured or to the rl'storat;oll or n'll.\ir of the property damagrd, In eVl'llt of foreclosun' of this lTlortg:.ge or other transfer of tit I!' to the mortgaged property in extinguishml'nt ;"f the Indl'lJtedness secured hel"t'by, all ri,.-:-hl, title, and interest of the mortgagor in and to an)' insurance policies thell i;l force shall pagS to the purchaser or grantee. X, That thp mortgagpe may, at any time pending a suit upon this mortgage, apply to the court ha\'- inl{ JUrisdiction thereof for the appointlllt'nt d a rl'ceiver, and such court shall forthwith appoint a receiver of the pn'mist's coven'd Iwn'hy all and singular, including all and singular thl' inconll', protits, issues, and revenues from whatever source derived, <~ach and every of which, it bl'ing l'xprl'ssly under- stc.od, is h('fl'by mortgagpd as if specitically spt forth and (lescribed in the granting and Iwbendum clauses hpreof, and such rpceiver shall haw all the broad and effedin' functions and powprs in any'wisp l'ntl'usted by a C,1urt to a receivpr, and such appointment Rhall be made by such rourt as <J.n admitted equity and a mattl'r of ahsolulL' ri~ht to said mortgagPl', and without :'ell'I'l'ncl' to thl' adequ<>.cy or inad- l'quacy of till' valut' of thl' pr<lJlt'rty mortgaged or to the solvency or insolvpm'y of said mortl{agor or the defendants, and that sUt'h n'nts, protits, income, issul's, and rew'nUl'S shall be applil'd by such n'cei\'er according t~) tlw li.'n of this mortV'IW' and the prartice of such court. In the event of any default on the part of the mort~agor hl'rpulHkr, thr mortgagor agr('('s to pay to the mortgagee on demand as a rpason- ahh' mOllthly' n'nta! fOl' tilt' pn'lllist.s an amount at least equivalent to one.twelfth / 11 ~) of the aggregate of the tWl'ln' lIlonthly installnlt'llts pay'ahlt' in the thell current year plus the actual amount of the annual taxl'~, ;l~Sl'~Sll1l'nts, watt'r rates, and insurance pTL'llliums for such year not covered by the aforesaid monthly paYllll'nts, 9. The mortgagor furthpr covenar.ts that should this mortgage amI thl' not!' s{'cured hereby not be elil(ibll' for insuran('t' u:lt!pr the :\ational Hotlsing Act within )J ~Cl.~::; from tht' date hereof (wnttt'n ~tatpnH'!1t of anv ottiCPT of the Federal Housing Administration or authorized age.nt of the Fl'dpral Housinl( Commissioner datl'd subsequpnt to the said. time from thp <late of this rnort~a~t>, dl'Clininl( to insure said n0te and this mortgagl', beinl( dPemed conc!usi\'e proof of such in- pligibility), tht~ mortgagep or the holder of the note may, at iL option, dt'c\are all sums secured hereby immedia~ely due and payable, 10, That ((I) in the ('vent of any brf'ach of this mortgage or default un the part of th.> mortgagor, or (b) in the p\'t'nt that any of Raid sums of money herein refl'rred to be not promptly and fully paid with- out demand or notice, or (c) in the event that each and every the stipulations, agreements, conditions, and covenants of said note and this mortgage, are not duly, promptly, ami fully performed; then in either or any such eVE-nt, the said aggregate sum mentioned in said note then remainin~ unpaid, with intt'rest. accrlH'd to that timp, and all moneys sl'cun?d hereby, shall become dUt' and pay'able forthwith, or th;~~.:.~fter, at the option of said mGrtgagee, as fully a~d complet('ly as if all of th.' said sums of money were vTi.~;f1~lly stipulated to be paic. on such day, anything in said note or in this mortgage to the contrary notwithstand;ng; and thereupon or thereaftl'r, at the option of said mortgngp(', without notice or demand, suit at law or in equity, may 1)(' pros(>Cltcd as if all moneys se<'ured hereby had matured prior to its insti- tution. The mortgagp(' may foreclose this mortgage, 8.<; to the amount so declared due and payabh!, and the said prpmises shall lw sold to satisfy and P?y the same together with costs, expenses, and allowances_ In case of partial foreclosure of this IT.ortgage, the mortgaged premi8e8 shall be sold subject to the con- tinuing lien of this mortgage for the amount of the debt not then due and unpaid, In such case the pro- visions of this paragraph may again be availed of thereafter from time to time by the mortgagee, 11, That the mortgagor will give immediate notice by mail to the mortgap;ee of any conveYilnce, tran!:fer, or change of ownership of the premises, 12. That no waiver of an\' covenant herein or of the obligation secure;! hereby shall ~t any tLme thereafter be held to oe a waiver of the terms hereof or of the note secured hereby,