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Home My WebLink About0872 . tV - ::. .... ...... . < I '. . . " '. '. ',', .':.,' '. . :.. .. , . .:' ';, . : :. ." : " O.R; BOOK 14 PAGE122 under (b) of p&I'a81'&ph 2 precedin. ahall not be auftklent to pa.y ~und nnta. taxes and useaamenta ad inauru::...rremiUJllAy .. the cue m~ be. when the lADle Ihall become due and payable, then the mo~r pay to the mortaqee any amount neceell.,. to make up the deficiency. on or before the date when payment of auch I'1'O'lDG reIlta, tax., ..e-""'enta. or inaurance premiuma shall be due, If at any time tla mortpaor ahall tender to the mortpaee in accordance with the ~roviaiona of the note aeeurecl hereby. tull ~t of t:le enUre lndebtedneu repl'el8l1ted thereby. the mortppe shan, in com- ))utiq the amount of .uch indebtedn.., credit to the account of the mortpaor a~l paymenta made under the p~~:~~~ph 2 hVtof which the mortppe baa not become obl..ated to pay to the P'ed8ra1 H Del' and ~ \}al.N'.A nmainin. In the fundi accumulated under the provisions of (b) ofuid.~..craPh 2. If there atiall tie a default under any of the proviliou of thia mortrqe. re- IIUltiDa in a public aaIe of the prem_ covered hereby. or if the mortppe acquirM the property other- wi.ee after default, the mortpaee ahaIl apply, at the time of the commencement of such proceedings or at the time the property ia otheMnae acquired. the balance then rema!nintr in the funda accumulated under (b) of parqrapn 2prececliq.. a credit apinat the amount of principal then remaining unpaid under aid note-and aball properly adjust any paymenta which ahall have been made under (4) of said paragraph, 4. That he will pay all taxes, autl,-mta, water rate., and other pvemmental or municipal chuges, An., or impoeitiona. for which provilion baa not betJJ1 made hereinbefore. and in default thereof the mort- .... may IM'1 the aame; and that he win promptly deliver the ofllcial receipta therefor to the mortgagee. 6. That he will permit. commit, or sufter no wute. impairment, or deterioration of said property or any part thereof; and in the event of the failure of the mol'tllaaor to keep the buUdin,s on said pre;ni&es and thoee to be erected on aaid premiaea. orlmprovementa thereon. in rood repair, the mortgagee may make 8uch repW'a as in ita diaeretion it may deem neceaaary for the proper preservation thereof, and the full amount of eacit and every BUch payment ahall be immediately due and payable. and shall be secured by the lien of iDia mortpp.. 6. That he will pay all and ai~ the coata, char1fea, and expenses, includini reasonable lawyer's fees, and coats of ab8tracta of title. incurred or paid at any time by the mortga,ee because of the failure on the part of the mortcqor promptly and fully to perform the qreements and covenants of said prom- iuory note and this mort.aqe, and said coata, c:ha.ra-. and expen.aea shall be immediately due and pay- able and aha1l be secured by the lien of thil mortpp. 7. 'nIat he will ktep the improvementa now exiltiq or hereafter ereeted on the mortgaged property, insured .. may be required from time to time by the morf.lralee ap.inst Iou by fire and other hazards, cuualtiee, and contiqenci.. in .och amounta and for .uch periods as may be required by mortgagee, and will pay promptly, when due. an~ premiwna on such inaurance for payment of which provision haa not been made hereinbefol'P" All insurance shall be carried in companIes approved by mort,aaee and the policies and renew'" thereof shan be held by mortppe and have attached thereto Iou payable cJ.uaea in favor of and in form acceptable to the mortppe. In event of loss he will give immediate noti~ mail to mortppe. and mo~ may make proof of Iou if not made promptly by mortgagor, and Insurance company concerned 1.1 hereby authQriHd and directed to make payment for 8uch Iou direet1y to mortcaaee instead of to mortpaor and mort,agee jointly. and the insurance proceeds, or any part thereof. may be applied by mortpaee at ita option either to the reduction of the indebtedneas hereby aecured or to the reatoration or repair of the property damqed. In event of foreclosure of this mortpp or other tranafer of title to the morqa&ed property in extiquiahment of the indebtedness aecurecrhereby. all riKht, title. and intereat of the mortpcor in and to any insurance policies then in force Iha11 pua to the purChaler or putee. 8. That-the mortppe may. at any time pendina a .uit upon this morqqe. apply to the court,hav- ~urildietion thereof for the appointment of a receiver, and .ueh court shall forthwith appoint a "IV of the premiaea covered hereby all and siqular, includiq all and sinlUlar the income, profits, iaIIU-. aDd nveoues from whatever IOUrC8 derived. each and every of which, it being expreuly under- Itood, 18 hereby mortppd as if .peciftcally let forth and deKribed in the arantilll' and habendum claiJ8ell hereof aDd .uch receiver Iha11 have all the broad and effu:tive functions and powen in anywise entNiied by a court to a receiver, and .uch appointment shall be made by such court as an admitted equity and a matter of abeolute riPt to said morta8P8. and without ~ference to the adequacy or inad- equacf of the value of the property mo~ or to the solvency or insolvency of said mortgagor or the defendaDta, aDcl that .uch renta. profita, tncome. luu... and revenu.. wi: be applied by such receiver aceonliDa to the lien of this mortpp and the practice of .uch court. In the event of any default on the part of tne morqqor hereunder, the mortpaor &Creel to pay to the mortp.pe on demand a.s a reuon- able monthly rental for the premiaea an amount at least equivalent to one-twelfth Bh) of the aarepte of the twelve monthly inatallmenta })flyable in the then current year pll18 the actual amount of the annual tax~l.~"'l1'enta. water rates. and inauranee premiuma for .uc:h year not covered by the aforeuid monUU7 payments. 9. The mortpcor further eovenanta that mould thia mortpp and the note secured hereby not be elirible for leauranee under the National HouaiDa Act within 30 OAtS from the date hereof (writt8l .tatement of any o&cer of the Federal Houai~ Admlniatratlon or authorized ..ent of the Federal Houaiq CnrnmiMiooer dated .ubeequeat to the 30 DAYS time from the date of this mo~ cleclbtin~ to inaure aaid note and thia mortaaP. 6erlll' deemed concluaive proof of .ueh in- eltp)W~). the IIlOl'tppe or the holder of the DOte may. at Ita option. declare allsuma secured hereby im'-diateIJ due aDd pt7ab1e. . 10. Tbat(.) in the eva of &n7 bnIlch of thia mortpp or default on the part of the mortpaor, or (b) III the event that &n7 ot said.wna of moDe7 herein nfeirecl to be not promptly anel funy paid with- out dirt-Nt or DOtic:e. or (0) bl tM eYeDt that tIIdl aDd ~er'T the atipulatiooa, ....eementa. conditiona. ad eoteIWlta of Mid DOte u4 thJIlDOI'tpp, &!'S not duly. 1)rompUy. and fully performedi then in either or &n7 IUCh weIlt, the laid aanPte IUIIl metlonecl in aetd note then remaining unpai~l with iIltenet aceI1aecl to that time. and .n-moiMp Me1lI'ed beNb7. ...1 become due and payable fonnwlth, or tbenafter. at the optioA of aid IDOI'tppe. _ fa 117 and cOmp)et.ely .. If all of the aaid soma of money ~~ to be peict OIl Ach daJ. ar.Jthi..m a:>>a note or in thil mortpp to the co= ; ADd then..- or thenaftc. at the optIoD of iald mortpcee. without notice or d Rit MIaW"'IIi eQ1IitT. .., be proMCnted _ If aU mGMP IeCUNd hereby ~ matured priur to Ita IJlllti. t1ItioD. 'ftM m~ m&7 loNdoN. thia, moriDP. .. to the amount 10 declared due imd parable. and the uIc1 ~ ibiD be IOId to ~ ad pai tll~er with (Uta, apenaeI. and aDowanc-. III cue ~ ~ f~ of Wa =-:, 1M ~ ahatJ boa IOId subject to the COD- tlD1dDa Hell ~ tit.. mot't.PP '01' tilt ~ the cIeOt dM aDd Wl~ In.uch cue the pro. ..,. 01 th!a............. ~ ..... be.~ of therMtter from tiJM to tbI'le b):' ~ ~ 11. ftat the ~ wiD -'ve '--'ia. __ .'mail to. the ~ of &D1 ")OIlyquoe. .....,.. .. .-rr GI ow...... fIil," ,..-1-. . :. 11. That _ wal'ftlI" of aD7 COVWDDt htnha or of the oblJptloD te:Ured ~ IhaD at aD1 time tMi..... be ..... to be a ftIftr 01 the tenDt benot or of the .. teCUred MnbJ. I , ' ,- .- : ''4 . . J,.t :;.~j.