The URL can be used to link to this page

Home My WebLink About0865 '. . .. " ~ ~ . .. ... ". . . ~ . . . ". " . - ~ Ibfti 14 PlCt115 -- ,...,.. . ,,"IP" ,..,......-.. ... . IIDcIer (&) of DU'8P'aph I p~l~ ahaD DOt be lUf&dellt to,. ~d J'eIlta, tax. and ....mentl ad IDlunnee PlWDi.... .. the' cue m&7 be. w.... the IaIIM 8ba11 become d1ae and PAnble. then the mortaIIor ahaJI P&7 to the IDOI'tppe &IlJ amount "---"17 to mab up the deftci.,nci, O'n .. before, the date wli. pa,yment of auch pouad ratl, tau.. ....---ta, or ~ pnmiuma abalI be due, If at aDY tUne the mortcacor aball .. to the mortaqee in MCOI"CIaDce with the pI'O'riaiou of the note, HCUred hereb.Y, full PQIMIlt of the eIltin ln4IebtedD_ ftPftMDted thereby. the mortp,pe Ihall, in com- put!q the aDlOUDt of auch iDdebtedD_ cndit to the account of the mortpaor aU ~entl made under the provili6D1 of ~.) of panpapb 2 hereof which the monaa.. baa not become obllpted to pay to the Fed8nl B~ ~",I_w-. Uld ~ balaDee remainiq bi tile fundi aeeumulated under the proviaiuDa of (b) of aalcI ~ 2. If there atiaJ1 be a default uncIer aD7 of the provialou of thia mort...e, ~ .ultiDr in a public IaIe of the premiaea covered hereby. or if the morlppe acquirel the property other- wile after default, the mortaa8ee ahaIl. AP..Ply, at the tlme of the commencement of IUch plOCt!4l<linp or at the time the property ia oth.nn.e acquil"ed, ~ balance then lW'fta'tlillJ' in the funda accumulated under (b) of.~ph 2 precedina''' a credit apiDat. the amount of prlDclpai then remainine unpaid under aid note aDd ahall properly adjuat any paymentl which,ahall have been made under (0) of ..id parqraph. 4. 'ft1at he will pay all taxea, ....,..-eta, water rat.. and other IOvernmental or municipal chaq., ftn.. or impoeitiona. for whi,eh prov1aion baa not been made hereinbefore, and in default thereof the mort- ppe may pay the aame; and that he will promptly deliver the oftlcial receiptl therefor to ,the rr.ortgape, IS. That. he will permit. commit, or .offer DO wute, impairment. or deterioration of ..id property (\r any part thert'JOf: and in the event of the failure of the monaaaor to keep the buildilll's on said premises and tholii to be erected on aid premw., or improvementl tliereon. in aood repair, the morteagee may make IUch repairs as in itl diKretion it may deem neceu&ry for the proper preservation thereof, and the full amount of eaeh and every auch PQDlent ahall be immediately due and payable, and &hall be eecured by the lien of thi. mortpp., 8, That he will pay all and .iqular the COIta, charpa, and expenses, including reasonable lawyer'. feee, and,coata of abatrada of title, incurred or paid at any time by the mortg&r-e because of the failure on the part of the mortgagor promptly and fully to perfonn the agreements and covenanta of said prom- iaaory note and this mortpae, and aid COItI, char1r-, and expenaea aball be immediately due and pay- able and ahall be secured by the lien of ~ mortpp. . 7. That hI.:! will keep the improvements now exiatiq or hereafter ~ on the mortgaced property, inaured .. may be reqUired from time to time by the mortnaee qafnat Iou by fire and other hazards, caaualtiea, and contingenciea in such amounta and for sucn p.rlOOs as' may be required by mortgagee, and will pay promptly, when dt.: o!, any prerniuma on such insurance for 'payment of which provision has not been made hereinbefore, All inaurance shall be carried in companies approved by mortgagee and the policiel and renewals thereof ah:111 be held by mortgagee and have attached thereto Iou payable c1auaea in favor of and in fonn ,.cceptable to the mortgagee. In event of 1088 he will give immediate notic:~~ II'Ail to mortgagee, and mortgqee may make proof of 1088 if not made promptly by mortgagor, and inaurance company concerned is hereby authqrized and directed to make payment for .uch loaa directly to mortpree insteAd of to mortgagor and marta'agee jointly, and the inaurance proceeds, or any part thereof, may be applied by' mortgagee at ita option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged, In eVtlnt of foreclosure of this mortpp or other tranafer of title to the mortgaged property in extincuiahrnent of the indebtedness secured hereby, all ript, title, and interest of the mo~r in and to any inaurance policies then in force &han pus jo the purchuer or crantee. 8, That the mortpaee may, at,any time pendine a suit upon thia morta'a&,,!, apgly to the court hav- ine juriadiction thereof for the appointment of a receiver, and luch court shall forthwith appoint a receiver of the premiaea covered hereby all and singular, includine all and singular the income, profit8, iuues, and revenu. from whatever source derived, each and every of which, it being expressly under- stood, is hereby mortpged as if specifieally set forth and dea.;ribed in the granting and habendum clauses hereof, L.,d such receiver ahall have all the bllOAd and effective fundiona and powers in anywise entru.ted by a court to a receiver, and .uch appointment shall be made by such court as an admitted equity and a matter 'of ilbsolute rieht 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, issues, and revenues shall be applied by such receiver accordine to the lien of this morteage and the practice of .uch court. In the event of any default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reason- able monthly rental for the pr,.miaea an amount at least equivalent to one-twelfth B/I2) of the aggregate of the twelve monthly inataBmenta payable in the then current year plus the actual amount of the annual tax~l aaseaament8, water rates, and inaurance premiums for such year not covered by the aforesaid monUlly paymenta. ' . 9, The mortgagor further covenants that should this morta.a@ Mid the note secured hereby not be eligible for inaurance under the National Houain, Act within ao UAyS from the date hereof (written .ta~ent of ~n~ ofIlcer of the Federal Houaine A~ini...tration or .authorized agent of t~e Federal Houame CommlUloner dated subsequent to the 30 Dr\i~ time from the date of thiS mortpp, declining to wure Mid note and thia mortgage, beiq deemed conclusive proof of such in- eliaibility), the mortppe or Ute holder of the note may, at its option, declare all sums secured hereby immediately due and payable. ' 10, Th~(CI) in the ev~nt of any breach of this mortpae or default on the part of the mortgagor, or (b) in the event that any of said SUJna of money herein reCerred to be not promptl)' and fully paid with- out demand or noticeL or (c) in the event that each and every the atipulationa, agreements, conditiona, and covenants of said note and thia mortpae, are not duly, promptly, and fully perfonned; then in either or any such event. the Baid a,gTepte Iwn mentioned in aaid note then remainine unpaid, with interest r.ccrued to that time, and all money8 aecured herEby, ahall become due and payable forthwith, or thereafter, at the option of said mortpaee, .. fully and completely as,if all of the said sums of money were oriainally stipulated to be paid on such day, al17thine in Qid note or in this mortgage to the contrary notwithatandiq; and thereupon or thereafter, at the option of ..id mortgagee, without notice or demand, suit at taw or in equity, may be Pl'OMeu~ &II if all moneys secured hereby had matured prior to itl insti- tution. The mort(fape may forec;Joee this mortgqe, .. to the amount 10 declared due and polyable, and the said prenuaea Ihill be IOld to aatlafy and pay tile aame together with cOltl, expeuaea, and allowanC811. In cue of partial foreclOlure of thia mortaqe. U. mortgapd premia~ shall ~ sold subject to the con- tinuiq lien of Uaia mortcap for the amount-of (he debt not then due and- unpaid. III luch cue the pro- viaioDl of this paraarraph may apin be availed at thereafter from time to time by the mortparee, 11. That th~ mOrippr will 8ive immediate notice by mail to the moripa'ee of any conveyance, tranafer, or c:hanp of ownenhip of. ~e premiMl. 12. That no waiver of any covenant herein .or of the obUption secured hereby &hall at any time thereafter be held t.> be a waiver of the tenDII hereof or of the Dote secured hereby. . I... . -i