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Home My WebLink About1481 -- '.T, I.UC:[ cnll~n. fLA, e under (b) of paragraph 2 preceding shall not be lIufficient to pay ground renta, taxea an4 aaa-easmenta and insurance premiums, as the case may be, when the 8AJll{: shall become due and payable, then the mortgngor shall pay to the mortgagee any amount n~esaary to make up the deficiency, on or before the date when payment of such ground renla, taxes, ssse8&menta, or iusurance premiums shall be du~. If at any time the mortgagor shall tender.to ~he mortgagee in accordance with the provil\iona of the note sl'Cured hereby, full payment qf the entire mdebtedness represented thereby, the mortgagee shall, in ,001- puting th(' amount of such indebtedne&:l, credit ~ the account of the mortgagor all payments made under the provisions of (a) of paragraph 2 h~reof whIch the mortgaKee h88 not become obligated to pay to the Federal Housing Commissioner and any balance remaining in the funds accumulated undel'-the pr(;visionll of (b) of said paragraph 2. If ther~ shall be a default under any of the proviaions of this mortgage, re- sulting in a pubiic sale of the premIses covered hereby~ or if the mortgagee acquires the property other- wise after default, the mortgagee shall apply, at the tllne of the commencement of such proceedings or,8t the time the property is cthl'rwise acquired, the balance theI~ remaining in the funds llccumulated under (b) of paragraph 2 pn'cl'{!ing,as a credit against t~e amount of principal then remaining unpaid under said note and shall properly adjust any payments whIch shall have been made under (a) of said par!lgraph. 4. That he will pay all taxes, assessments, water rates, and other governmental or municipal charges, fines, (lr impositions. ior which pro\'ision has not been made he_reinbef0re, and in default thereof the mort- gagee may pay the same; and that he will, promptly deliv(;l' the official receipts therefor to the rr:ortgagee. 5. That he will!wrmit. commit, or sutTe~ no waste, impairment, or deterioration of said property or any part the;eof; an\1 in the ~\'l'nt or. the fal~ure of the mortgagor to, keep the buildings on saici pl'enlises and those tll bp {'n'~'tt'd Iln said prl'mlSeS, or Improvements thereon, II1 good repair, the mortga~c'e may m,lke ~uch p'pam, as in It.;; (Iisen'tion it may deem necessary for thl' proper presen'ation thereof, and the full allHl\lnt Ili ('ach an,~ e\'ery such payment shall he immediately due and payable, and shall ue secured by the lit'1I of this mortgage. - 6. That he will pay all and singular the ::ost..~, charges, and expenses, including reasonable lawyer's fees, alHlcost..., of abstrads of titlt', incurred or paid at any time by the mortgagee because of the failure on the part of the mortgagor promptly aud fully to perform the agreempnts and covenants of said prom- issory note and this mortgagl', and said costs, charges, and expenses shall be immediately due and pay- abll' and shall bc' secured by the lien of this mortgage. 7. That he will keep the improvement.." now existing or hereafter erected on the mortgaged property, insufl'd a." may bc' fl'quin'd frllm time to tmle by the mortgagee against loss by fire and other hazards, casualties, and. contingenclps in slIch amounts and for such periods as may be required by mortgagee, and will pay promptl~., wlll'n ,Iue, any premiums on such insurance for payment of which provision has not !wpn made 111'f(.inllt'illl'p, All insurancl' shall be carrit'd in companies ap-)ro\'l'd by mortl{agel' and the policic's and rent'wals thereof sh,~lI be hl'ld by mortgagee and have attached thereto loss payable c1ausc's in favor of and in form :\c<'('ptabll' to the mortgagee. In event of loss he will give immerliate notice by mail to r11ortgagt'l'. :\lld mortgaj.('l't' may make proof of loss if not made promptly by mortl1;agor, and l'ach insuranl'l' compidlY l'o!ll't'I'nt'd is hereby authorizeo and directl'd to make payment for such loss dirl'ctly to nwrtj.('<lgc'(' im;lt'ad of to nlOrtj.('a~or and mort~aj(ee jointly, and thl' insurance procet'ds, or any part tlwl"eof, may be appllt'd by lllortl1:<lj.('I'" at its option either to the reduction of the indebtedness herl'by secure'd ur to the n'sturati"n ur repair uf t1w propert~. damaged. In event of fOfl'closure of this mortgage or othl'r transfer of titlp to till' l1lortgal{ed property in extinguishment of the indeotedness secun.d hl'rt'by, all r;srht, title, and inh'rpst of thl' mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee. ~. Th:>t the mortKagl'e ma~'. at any lime pending a suit upon this m0rtgaKe, apply to the court hav- inj.('iurisoiction therl'of for thl' appointnwnt of a ret::pi\'l'r. and such court shall forthwith appoint a ren'iver llf thl' premlSt'S cO\'t'rl'd ht'rpby all allll slllguJar, including all and singular tht' incomp, profits, issues, and revenues from whatever source derIved, each and every of which, it beinj.(' expressly unoer- stood, is hc'reby mortgaged as if speeifkally set forth and described in the granting and habendum clauses hereof, and such n'('t'l\'t'r shall have all tht' broad and effective functions and powers in anywise l'ntrustl'd by a court to a r('(.'ein'r. and such appointment shall hl' madl' by such court as an admittl'd equIty and a mattl'r oi absolute rij(ht to said mortgagel', and without fl'ft'n'nce to the adequacy or inad- equacy oi thl' \,due> (If the proJ,,'rty !l1ortgaj(ed or to tlw soh'pncy or inso!\'t'l1cy of said mortgagor or the (kfendan~, and that such n'nts, profits. il]('('IlH', iSSlles, and revenues shall be applied by such n'('l'i\'er acct1nling to tI\l' lien of this llwrtgaj.('e and the pract ice of such courl. In the event of any default on the part of UH' mortgagor hl'l"l'ul\llpr. thp /;lortj(aj(or aKn'ps to pay to thl' mortgagpe on demand as a reason- abh' l1lonthl~' rt'lltaJ [Of th,' pl'l'miSt's an amount at Jea~t equivalent to onp-twplfth ('12) of the al{~Tc'gate of the tWl,I\'l' IIloI1thl.,' i:lst;dlmt'nts pa\'ablt, in the Ull'ncurrent year plus tlll' actual amount of the annual ~axl's. aSSI'SSIlil'nts, watl'r ratt's, and insurance premiums for such year not covcred by the aforesaid nlOldJdy payments. ~. The mortj.('agor furtlll'r ('uw'nants that should this mortgage amI thl' notl' sl'cured hl'n'hy not be plij.('lhle for insuranl'p undl'r the ~ational Housing Act within ,,:J 1a.:::.; from the date lwreof (wr:tten stateml'nt of an~' OffiCPT of the Federal HO~Jsing Administration or authorizl'd uj.('l'nt of the l<\'dl'ral ll11usin~ ConlJniSSWnl'r dated subs('(luent to lhe sa.-;,l tinw from th(~ datc. of this nlOl'tgal{l" dedining to insure said note and this mortl{al{e, being dt'l'nwd conclu:-;ive proof of such in- eligIbility). the mortl!aj.('l'e or the holder of the note may, at its option, declare all SlUllS secured hereby immediately due and payable. 1(1. That (n) in the PHnt of any breach of this mortj(age 0r default on thl' part of thl' mortgagor, or (b) irl the en'nt that allY of said sums of money herl'in referred to be not promptly and f;,llly paid with- out dl'mand or noticp, or ((') in the event that each and every,the stipulations, ag,,:ements, conditions, and covenants of said note and ihis nI0rtg~ge, are not duly, promptly, and fully performed; then in either or any such P\'Cnt. thl' said al!gregate sum rnpr.tionl'd in saio note thpn n'maininK unpaid, with interest accrued to that time, and all moneys secured hereby, shall I)('come due and payable forthwith, or thereafter, at the option oj said mortg-,,-,:"" a.'> fu lIy and compietcl~' a.~ it all of the said slims of money were originally stipulated tl) be paid on such day, anything ill said note or in this mortgage to the contrary notwithstanding; and thl'!"eupon or thereafter, at the option of said mortgagee, without notice or demand, suit at law or in ('quity. may be prosecuted as if an moneys secured hereby had matured prior to its msti- tuti',n. Thl' m(\rt~agl'l' may foreclose this mortgage, as to the amount so declared due- ann payaiJle, and the said premises ~hall Ill' sold w satisfv and pay the same together" with costs, expenses, and allowances. In ca."e of partial foreclosure of this mortgage, the mortgaged premisE:s s:lall be sold subject to the con- tinui,,&; I;,'n of this mortgage for the amount of th~ debt not then due and unpaid. In such case the pro- visions of this paragraph may again be availed of thpreafter from time to timl' by the mortgagee. 11. That the mortgagor will give immediate notice by mail to the mortgagee of any conv~yance, transfer, (lr chanl{e of ownershiv of the premises. 12. That no waiver of 'lny covenant herein or o~ the obligation secured hereby shall at any time thereaiter be held to be a waivl'r of the terms hereof or of the note secured hereby,