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Home My WebLink About0055 1 ,.1\, IM)i -~ 1 ')-- ~~ (',i. LUCI[ \.U6hTT, flW. .mde~ ,(b) of, pIlU;'~ph 2 preeed:h\a Ihan DOt 1>8 IUJlcifilt tD ~ Jnl~d rent., tu. ud U6esllll~eDta and l!\&urlU1~ J)temnunaj U ta. CU'J m&1' be. when tM !JaDM Ibll ~e due linG pay..J))e, tlten the moctp,aor Il\.&l: ~ to tl-.e ~ u.y amoont neceIMI'Y to JUb up the Mtkiency, ~ or bE-fofil tn. dde '!V~en pa)'n'Clt ut ~uch srouild l'4)1'.ta. tu., ~fIDta. er tnaura..nce pnmiuroa ahAl! b.: dut> II at tAnY time the nwrta'&lO!' ehall tendc' to the raortppe in ~ with the provisiOOA of the note secured hereby, full p&yIMDt ~f the enti:'$lnd.tbiedneu l'f:pnwented thel'@bj',th$morqagee shall, in eom- puting the amount ...f .uell indebted:!... -:l'i'dit to the acoot:nt of the mortsqor all p:lrm~nts made under the prov~ion~ of (a) ct PlU'qra~ 2 hereGt Wh1C:h the mortaJl'!MI hM not beoome obhasted to pay t'l the FedQ!ra! SOUA1Dlt Commi.uioner ADd u, I~ remainiq b the bnds IoCcumuiated \Inder th.. pro\'il!iona of (bj of lJAid !-'Uqraph 2. It th8re Ihall 0. a .;i.d3i1lt under any of the pl'Ovi8iona of this mortga[;t', rc- ilultini in a public aaie ')f tht! premi3ee covered ht'reb1. or if th:! m(l~ acquir~s the pf"')p~;.ty oth"r. wiae after delaur. th~ ~ .hall apply. at the time of thecommellcementof 8\'ch procl'Nlings or at the time t.he properly IS o~er1ll'\M acquired. the balanC1! tMn rema!nillJ in U.e lunda &ccumulat<.!<l under (b) of J'&l'qTaph 2 prececbn'.aJ a credit apjut the amount Gf princIpal then N'm.inilig unpaid under aaid note and llhall properly adjuat any PllYDlenta which ah~l have been made under (4) of uhi pAralf! aph. 4. That he will pay all wes, aasell8ll1enta, water rstea, ana other lrGvemmen~al i)f munkipal charg-IM, ftne~. or impoaitiona, for which provision hsa not been made hereinbefore. and in default thereof the mort- gagee may Ji&y the ~ame; and that he will promptly deliver the official receipta therefor to the rr.ortiagee. 5. Tha, he will permit, ~ornmit, or suffer no waite, impairment, or deterioration of l3~d prop4!!rty or auy part thereof; and in the event of the failun of thlil mor-qaator to keep the buildings on said premi8t!S and those to l:,e erectro on aaid premi6es. or improvementa thereon, in grod repair, the mortgage.:l may make such repair!!! as in its discretion it may dflem n~ for the proper preservation thereof, and the full a..nount of each and every such payment ahall be immediately due and payable, and &hall be secured by the lien of thia lT1orta'age. 6. That he will pay all an~ singular the coeta, chug'Elj, and expenses, including reaMnable lawyer's fees, and costA of abstractA of title, incurred or paid at any time by the mortgagee because of the failure on the part of the mortgagor promptly and fully to perlorm the agreementA and covenants of !!aid :--rQlTl- i880ry note and this mortgage. and &aid coeta, chargN, and expenae:s shall be immediately due and pay- able and shall be secured by the Hen of this roortrage, 7. Th~t he will keep the im,rovements now ex~ting or hereafter tlrected on the mortgaged property, insured as may be required from time to time by the mortgagee aiainst 1086 by fire and other hazards, C&8ualtilC'8, and contir.gende$ in such amounts and for such periods 88 may be required l:\y mortgagee, and will pl!Y promptly, when due, any premiums on such iMurance for payment of whi<:h provision ha..'l not been mp,de herei!:before. All illllurance shall be carried in companies approved by :nortgagee and the policiea and renewals thereof shall be held by mortgage{; anG have attached thereto 10&8 payable clauaea in favor of and in furm acceptable to the mortgagee. In ev~nt of 10&3 h~ will give j"lmediate notice b~' mllil to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagor, and ellCn inS'lrance company concerned is hereby authorized and directed to make ~ayml'nt for such l08s directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied ~y rr.ortga~ee at i,ts option either to the reduction of the indl'L~l'~n€5g hereby secured or to the re.atoratJon or repair of tne property damiged, In event of foreclosure of i.hls mortgage or othE::r transfer of title to the mortgaged property in extinguishment of the indebtedne'ls &ecured hereby, ail right, title. &r.d interest of the mortgagor in and to any insurance policies then in forcf' !!hall p&&6 to the purchaaer or il'nntee. 8, That the mortge-gee may. at any time pending a IU!t upon thi!l mortgag~, apply to the court hav- inir jurisdiction thereof fi)r the appointment of a receiver, and such court shall forthwith appoint a reCeiver of the premi8eti covered hereby all and singuler, including all and singular the income, profits, issues, and revenues from whatever oouree derived, each and every of which, it being expressiy under- stood, is hereby rr.ortgaged &8 if specifically set forth and described in the Il'ranting and habendum c1aus(:. hereof, and such rec(iver shall ha'le all the broad and effective functionli and powers in anywise entrusted by a court to a receiver, and such appointment "hall be made by such court as an admitterl equity and a matter of absolute right to said mortgagee, and without :-eference to the adequa.,:y or inad- e<iuacy of the value of the property mortgaged or to the solvency or insolvency of sair! ~1ortK8gor or the defendants. and that such renls, profits, income, issues, and revenueg shall be apl)iieG by lluch receiver according to the lien of this mortgage and the practice of such court. In the event of any default on the piirt of the mortgagor hereunder, the mortgag0- agrees to pay to the iTlortgligee on demand as a reason- able monthly rental fur the pr€misps an amount at least equivalent to one-twelfth (1"12) of the aggregate of the twei'/e monthly instsllments payable in the then current year plus the actual amount of the a~Tlual taxes a.'4seasm en ts , water ratea, and insurance premiums for such year lIot covered by the aforesaid monthly payments. 9. The mortgagor further cov~nant8 that shuuld this mo rtgage r.nd the note sC(:urerl hereby not be eHgible for ins;Jranc€ under the National Hou3ini' Act '.Vithin 20 Ct',{"'> frol!' the date hereof (written sta~~ment of any office" of the Federal HOUSlnk AdministratIOn or authoTlzed agent of the Federal H('~sin" Commiaaioner dated subsequent to the 3,J U - ': time Cram the date of this m()rtgag~. d~lining to ins'ut said nete and this mortgage, being d~J'I'\ed c:ondusive proof oC such i.n- eligibility), ~.e mortgagee or the holder of the note may, at its optIOn, declare ail ~umg secured hereo). immediately due ,'ind paywle. 10. That (~) in the event of any breach of this mortgage or default on the part of the mor:gagor. or (b) in the event that any of said sums of money herein referred to be not p~omptly and fully paid,with- out demand or notice, or (t) in the event that each 8:1d every the stipulatIOns, agreements. condltiOlIs, and covenants of said note and thih mortgage, are not duly, prvmptly. and fully ~rformed: then in either Or' any such event, tne s~id aggregate sum mentioned in ~aid note then remaining unpaid, v.~ith il.tereilt accrued to that time, hnd ali mone,'S secured hel'ety, shall becom~ due and pay...ble forthWith. or th",reafter, at the option of said mortrlii-ec, 8fl fully snd completely as if all uf the gaid I\ums of money were originally !ltipuiatcd to be paid on such day, an>,thing in said Tiotl' or in this mortgage tp the contrary notwithstanding; and thereupon or thereafter, at the option 0f sa~d mor tga~e(>, without not,lcr or ~ell!;i:1~1 iluit nt lAw O!' in e<:l'.lity, 1119.) ~ prosecuted Il.S If all mO!leylS securer.! hereby h..d ..,atured pnor to !ts I!lStl- tutior.. The mOi'~g;.ze~ may foreclose this m~rtgaJ:1'e, a8 to the amount ~o declare1 due and pfly~ble. [,lid tOt; g&irl prem;;1~ shall ~ lo1d to satisfy and pav the b&.me toget,her with COgts, e-:.;penses. and al~owance3. In CMe 'J! partial foreclOSUre of this mortgage, the mortgaged premio;es 8hail be !;old gubject to tile cen- tinuin{llien of this mortgalge for tl-te rmount of the debt not then d',le and u,r.p;:,:d, In such ('as'? the pro- viaions of thi! para(tTf\ph may &i'lAin t>.e "vaiied of tht:realt..er from time b tIme b~ the mortgagei;, 11. That the mClr\:gagor will give imnl~~iat.e notice by man to the mort::agee of any conveyance, tni;-'lIfer. or change of owner~hi::> of th~ premise.!!. l~. ThJlt no waiver fA any covenant hert'!;n li!' o! tilt abiif(i'lt.iul1 &<;<(;ur",,_ heri!by ahaJl a.t a.!y time thereafter be ht:irt to be !1. waiveI' of tht' t..etms h~reof or vI the l~()~ :;ec4n..j herf'by. t \) ..