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Home My WebLink About0401 ...d inauraace~" tM eMe IU7I1e.I8Ch ~....~W bJ tM~.~t paJ1D8ntl to be made bJ the mortpaor. II. ~. the iDoDtblJ paJlDlDta.... bJ the mortpaor mwJer (') ~ ~ph I ~tp. .. .. be ~ to"' aomulrsta, tuellM r..tll .~ and iDaUnDee- DniIDluma. all tM cue mq be. wbtG the umo I1iaIl become ... ADd 'DUable. tbID the IDOI'tPaOI' IbaIIIN'Y to tile ~ AIQ' amount "~'~'7 to maD up the "'ewuoi. em 01" before tht clatt wIleD peJJD<<lt of I1ICh ground_nDW, tauI. "M~tI, 01' IDIuraDce prcm!uma Iha11 be due. It at aD7 time the mortcqal' ahall tender to the ~ in MCGrdaDce with the provlaiou of the noClI ~ bel'ebJ. toll ~t of the _tin indebtecSn.. nplWeIlted therebJ. the mortppe Iha1l. in com- J>u~ tM amout of auch indebtednell. credit to the account of the IIlOrtpaor all P9Dl-tI made undll' the ~ of ~ ofparqraph 2 Mreof which the mortaaaee baa not become oblIpted to P&J to tht Federal Boulq ml_lnner and av ~ l'fIII'lairJ~ the tunda accumulated urader the proviaioDa of (b) of uld 1JirUnph I. If t;bere Iball be a default un aD7 of the proviaiou of thia mortaaa'e. N- lulting in a puo& a,ae of the prem.... covered hereb~t or if the mortppe acQUiree the properb -~ wiM after defauh. the mort,ppe abaJl awl.Y'. at the"UJDe of the commenc8llent of auell p~lna5 or at the time the prop.,rtJ ia othenrl8e acquired, the ~tllY'ce then runainiDa in the func!. a:camulatecf \md.. (b) of ~ph 2 preeedinioAl a credit &pinat the &mOunt of ))I"inclpal then remainiDa unpaid under aald note and aball properly adJUIt IUlJ paymentl which aba1l have been made under (4) of laid panpaph. 4. 'That be will pay all tax.. .........enta. watB rate., and other IOvernmental or municipal ~ ftnee, or ImpomtlQDl. for which prov1aion hu not been made hereinbefore, and in default thereof the mort- ppe maJ paJ the same; and that he will prompt17 deliver the ofBcial, receipta therefor to the mortppe. 6. That he will penuit, commit, or auffer no wute. impairment, or deterioration of aald \>>~ Ol' &nJ part thereof; and in the e'..ent of the failure of the morta'qor to .keep the buildi.... on ...d premw. and those to be erected on Aid prem~. or Improvementa tJieroon, in aood repair, the mortppe may make such repairs as in ita diacretion it may deem neceuaI'J for the proper preeervationthereof. and the full amount of each and every .uch payment Iha1l be immediately due and payable. and Ihall be aecured by the lien of tbia monpp. . 6. That he will pay all &!1d aingu1ar the coate. charpa, and expenaeI, including reaaonable lawrer'a feee and COlts of abstract. of title, incurred or paid .at any time by the mol"tgqee because of th~ failure on the part of the mortgagor promptly and fully to perform the agreementa and covenants of said prom- iaaoI'J note and th1a mortpp, and aaid costa, chal'eee, and expenaeII ahall be immediately due and pay- able and ahall be aec:ured by the lien of thia mortgqe. - 7, That he will iteep the improvements now existing or hereafter erected on the mortpged property. inaured as may be requIred from time to time by the mortgagee against Iou by fire and other hazarda, eaaualtice, and contingencies in such amou~ta and lor su~b perioda as may be required by mortgagee, and will pay promptlY, when due, any pr~nuuml on suc.1t Insurance fQr payment of which proviaion baa not been made }Iereinbefore. All insurance shan be carried in companl. approved by mortgagee and the policies :\nd renewalll thereof 8hall be held by mortppe and have attached thereto Iou payable clauses in favor of and in fonn acceptable to the mortgagee. In event of Iou he will give immediate notice by mail to mortgagee, and mortga~ may make proof of Iou if not made promptly by mortgagor, and each insurance company concerned 18 hereby authorized and directed to make payment for such 1088 directly to mortgagee instead of to mortgagor aod mortgagee join~, and the inauranee proceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedneaa hereby secured or to the restoration or repair of the property damaged, In event of foreelOllure of thia . mortgage or other transfer of title to the mortgaged property In extinguishment of the indebtedneaa secured hereby, all right, title, and interest of the mortgagor in and to any insurance policies then in force ahall pa.u to the ,urchaaer or KJ'Bntee. 8. That the mortgagee may, at any time pendin~ a luit upon this mortpp. apply to the court hav- ing juriadiction thereof for the appointment of a receiver, and luch court shall forthwith appoint a receIver of the premises covered hereby all and singular, including all and lingular the income, profite. wues, and revenues from whatever lOurce derived, each and every of which, it being expreaaly under- stood, ia hereby mortgaged u if specifically set forth and described in the granting and habendum clauaea hereof, and such receiver shall have all the broad and effective functiona and powel'l in anywise entruated by a court to a receiver, and IUch appointment lhall be made by IUch court as an admitted equity and a matter of abaolute right to said mortgagee, and without reference to the adequacy or inad- equacy of the value of the property mortgaged or to the IOlvency or inaolvencJ of said mortgagor or the defendants, and that 8uch renta, profits, income, wues, and revenues shall be applied by 8uch receiver according to the lien of thia mortgage and the practice of 8uch court. In the event of any default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the rrortgagee on demand as a reuon- able monthly rental for the premise15 an amount at least equivalent to one-twelfth (Ih.,) of the aggregate of the twelve monthly installments payable in t.'le then current year plUlJ the actual amount of the annual tax~l &8SeI8Il1ents, water rates, and insurance premiuma for IUch Jear not covered by the aforesaid moDtnly payments. 9, The mortgagor further covenanta that should this mortpgeand the note secured hereby not be eligible for insurance under the National Houaing Act within from the date hereof (written ltatement of any .Jfticer of the I,'ederal Houaiq Adminlatntion or authorized apnt of the Federal Housing Oommiaaioner dated subsequent to the time from the date of th.ia mortgage, declining to insure said note and thia mortgage, being deeJlled concluaive proof of such in- eligibility), the mortgagee or the holder of the note may. at ita option, declare allsuma secured hereby immediatel)- due and payable. 10, 'n1at (4) in the :!vent of any breach of thi8 mortgage or default on the part of the mortgagor, or (b) in the event that any of said SUJD8 of money herein releired to be not promptly and fully paid with- out demand or notice, or (e) in the event that each and every the stipulation&, agreementa, conditionl, and covenan~ of said note and th.ia mortgage, are not duly, promptly, and fuDy performed; then in either or any such event, the aaid aggrepte sum mentioned in Aid note then remaining unpaid. with interest accrued to that tune, and all moneye secured hereby, shall become due and payable forthwith, or thereafter, at the option of said mortgagee. u fully and completeJJ u if all of the said suma of money were originally stipulated to be paid on such ciaJ, &nJtbinr in aaid note or in thia mortgage to the contrary notwithatanding; and thereupon or thereafter, at the option of uid mortpaee, without notIce or demand, suit at law or in eqt;ity, may be prosecuted as if all moneys aecured hereby had matured prior to itA insti- tution. 'n1e mortga!J88 may forecloee this mortgaJe, aa to the amount 10 declared due and payable, and the aaid premiaee aha1l be IOld to utiAfy and pay tho aame qether with COlla. expenaeI, and allowances. In cue of partial foreclosure of this mortpp. the mort~ premw. shall be IOld 8ubject to the con- tinuiq lien of thia mortgap for the amount of the debt not then d~e and unpaid. In luch case the pro- visiona of this paragraph may apm be availed of thereafter from time to time bJ the mortgagee, 11. That the morts&ror will give Immediate notice bJ mail to the mortppe of anJ conveyance. traDafer, or cl1ange of ownerahip of the premi......_ 12. That no waiver of aDJ connant herein or of the obligation IeeUred herebJ ahall at any time thereafter be held to be a waiver of the tenr.a hereof or of the note aecured hereby. 1_1 y ~... . - -- ~_.. .AiIIII -,;