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Home My WebLink About0755 . . ", " " '" ' :. . :..: ," , .'., .', . '_' , _ : ~ , ". ' ',', " " :,..'..: 'l . .. ::' ,~.. ", ,,'- , '. Wt 14 llcr ~ '0 , " -.., o r_ :.,..-, -, ." <;T.lllCIF'r/'lIlNTY.fl& aDder (b) of- panpaph'l pnced'~. Ibal1 DOt be .eallcieat to "' Bound NDta, taue aad .....-..ta and iuurace J)I'eIIliUlDat .. the c&M IIiq be, whe the ume IliaD become due aDd DUable. then the monaa..or aba1l PQ \0 ~ mortaqee .., amoant 1l<<....17 to mab up the cle6cleD.ci. OIl or before the date W.1en PQDfent of lOCh srouDa reDm. tueI, ..---ta. or iuuraDce pnmiuma aba1l be due. If at aD7 time the mortppr aball tender to the mortpaee in aceordaDce with the proviaioDa of the note aecured heftby. full pqment of the.un iDdebtedneu reprelellW tbereby. the mortaqee ahall. in com. pgtiDa the amount of a. ~ credit to the account of the IDOI'tp.cor all paymata made under the piovialoDa of ~ of panaraph I hereof which the mo~ baa not become oblipted to pay to the Federal Boualna ." m"'~ner and ~ hal._ rem.f"l~ the lunda aecumulated under the proviliona of (b) of aa1d P&l'UI'aDh I. If thu.1IiaU be a defauJt un U17 of the provWou of thia mortpce. re- aultiDa in a public iale of the pnaii-. eovered hereby. or if the IIlOl1ppe acquinw the property other. wille after default, the morta..- ahaU apply. at the time ~ the eommelk.-emeut of auch proceedinp or at the time the pro~ fa othermae aequirecl. the balance then remalninJ in the fundi accumulated under (b) of paracraph 2 precedin(... a credit apinat the amount of prinCIpal then remainina unpaid under Mid note and Ihall properly adjuat &D1 payment. which aha11 have been made under .(a) of Kid parqraph. 4. That he ~ all tax.. ....V"''IIlta, water' rate., and other IOvernJnental Or municipal char&ea. fin.. or impoaiUoba, for which proviaion baa not been made herembefore. and in default thereof the mort- ..... may paphe aame; and that he will promptly deliver the oftleial receipt. therefor to the morqqee. 5. That he will permit, eommlt, or auBer no waste. impairment, or deterioration of said property or any part thereof; and in the event of the failure of the mortgqor to. keep the buildings on said premises and those to be .erected <?D laid premiaee. or improvement. thereon,' in.&OOd repair. the mortgagee may make such repairs u-iD 1m dlaeretion It may deem nec:euary for the proper preaervation thereof, and the full amount of each and every aueh payment shal1 be immediately due and payable. and shall be secured by the l!en of this mortpp.,'. ' 6. That he will pay aU and singular the coeta. char&eS. and expenaea, includin, reasonable lawyel's f",!,! and coatli of. wtracts of title. incurred or paid at any time by the mortl:qee because of the failure on tne pa..'1; of the mortar8&or promptly and fuUy to perform the ap-eements and covenants of said prom- iuory note and this mortsqe. and said coats. chaq_. and expenaea shall be immediately due and pay- able and shal1~ secured by the lien of this mortpp. . 7. That he will keep the improvements now exis~illl( or hereafter erected on the mortgaged property. inaured u may be reqUlt'ed from time to time by the mortgape againat Iou by fire and other hazards. caaualtiee, aDd c()ntilll(enci~ in such amounts and for sueD periods 'u may be required by mortgagee, and will pay promptly. when due, any premiums on such inaurance for payment of which provision has not been made hereinbefore. All insurance shaH be carried in companiea approved by mortgagee and the policies and renewals thereof shall be held by mortaral(ee and have attached thereto Iou payable elauaea in favor of and in fonn acceptable to the morlgqee. In event of 10M he will give immediate notice by ma11 to mortgag€e, and mortgaaree may make proof of loss if not made promptly by mortgagor. and each inaurance company concerned is hereby authorized and directed to make payment for such Iou directly to mortgagee instead of to mortgagor and mortgagee jointly, and the inaurance proceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness' hereby secured or to the reatoration or repair of the property damaged. In event of foreclOl!lure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby. aU right, title. and interest of the mortgqor in and to any inaurance policies then in force ahall paaa to the purchuer or grantee. ' 8. That the mortgagee may. at any time pending & suit upon this mortgage. apply to the court hav- ing jurisdiction thereof for the appointment of a receiver. and sueh court shall forthwith appoint a receiv.,r of the premises covered hereby all and singular, including all and singular the income, profits, iuues. and revenutY., from whatevet' source derived. each and every of which, it being expressly und~r- stood. is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereof. and such receiver shall have all the broad and effective functions and powers in anywise entrusted by a court to a receiver. &nd such appointment shaH be made by such court as an admitted equity and a matter of absolute right to said mortgagee. and without reference to the adequacy or inad- equacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the defendanta. and that such rents, profits. income, iuues. and revenues shan be applied by such receiver according to the lien of this mortgtge and the practice of such court. In the event of any default on the part of the mortgagor hereunder, the mortgagor agreea to pay to the mortgagee on demand as a reason- abla monthly rental for the premigel an amount at least equivalent to one-twelfth 012) of the aggregate of the twelve monthly installments payable in the then current year plus the actual amount of the annual taxea assessments, water rates. and insurance premiums for such year not covered by the aforeuid monthly payments. 9. The mortgagor further covenants that should this mortgage and the note secured hereby not be eligible for insurance under the National Ho~sing Act 'Yithin 3Q DAXS frof!! the date hereof (written statement of any oft\cer of the Federal Housmg Admmlsfratlon or authorized agent of the Federal Housing Commiuioner dated subsequent to the ~O Ujl. YS tim~ from the date of t~is mortgage, declining to insure said note and this mortgage. bemg aeemed conclUSive proof of such m- elil(ibiJity). the mortgaaree or the holder of the note may. at ita option, declare all sums secured hereby immediately due"and payable. .,. 10. That (eI)' in the event of ariy breach of thiS mortgage or default on the part of the mortgagor. or (b) in the event that any of aid suma of money herein referred to be !lot p~mptl). and fully paid, ,!ith- out demand or notice. (!r (c) in the event that each and every t.~e stipulations, agreements, COlldltlO~S, and covenants of sa in note and th~ mortgap. are not. duly..pro":,ptly, and fully ~~ormed; ~hen.m either or any luch event. the said aggregate sum mentioned m sald note then remammg unpaid. ~Ith interest accrued to that time. and an moneys secured hereby. shall becon:'e due and ~yable forthWith, or thereafter. at the option of said mortgagee. as fuUy. an~ col1!pletelY as.'f al! of the 1&1d sums of money were oril(ina11y stipulated to be paid on auch day. anythm~ 18 said !lote or m UUSl1!ortgage t~ the contrary notwithatanding; and thereupon or'the~Jter, at the option of &aId mort&agee. without nO~lce or ~e":,an~. IUU at law or in equity may be prORCuted .. if all moneys secured hereby had matured prior to Its lnatl- tution. The mortga~ may foreclose this mortgAJe. as to the amount so declared due and payable, and the aaid premises shan be sold to satisfy and pay the same together 'Yith costs. expenses. ~d allowanceL In ease of partial foreclosure of this mortgqe. the mortgaged premlseB shan ~ sold subject to the con- tinuinglien of this mert.gage for the amount of the debt not then d';le and u.npald. In such case the pro- visions of this paraarraph may again, be availed of thereafter from time to time by the mortgagee. 11. That the mortgagor will live immediate notice by mail to the mortgqee of any conveyance, transfer. or change of ownership of the premiset5. ' 12. That no waiver of any covenant herein or of the obligation secured hereby aha11 at any time thereafter be held to be . waiver of the tenna hereof or of the note secured hereby. -- #".~.. - t... c. .... -....." -f. ~'";I'---:O- ~ - .~ ..-. ........r -.~ ~