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Home My WebLink About0877 . _ ...._ ..."",..,..., rl' IJDder (l>) of puqraph I pnoed1na abaD DOt be lafldet to ~ I'J'OUDd 1'eDta. taxes aDd a.ueumenta and lDa~~fram1ama. u tJae cue mar be, when the same .un become due and D&Yable. then the 1Ik\.~ pq to the mortppe an:I amowit necntlPJ to .. up the deftc1enei. OD or before the . date wll_ ~t of auch pound reota, tax... ..",-ata. or iuaraDce pnmiuma ahMll be duo. If at &IQ' time the mortcaaor ahaI1 tendIr to the mortppe In accordaDce with the provwou of the note IeCUl'8d henbJ. ~ ~t of the _Un blcIebtedDtII npnMlted thereby. the mort.ppe shall, in COlD- putiq the am<MIDt of auch indebWaMl. cndit to the &CCOQDt of the mortpaor all ~enta made under the ~ of ~.) of pancrapb I hereof which the mon.aa- b.u not become obltpted to pay to the l'ecIinI B~ jOInpl_ln_ and ADY bal.~ r-a.lnl~ the funda accumulated under the proviaiona of (t) of Mid ~ph So U then atiall be a defaaJt un 8D1 of the provWona of th1a mortpae. re- ~ In a public ~ 01 the prtmu. covered hereby or if the mortaaPe acquirM the property other- wiae atter default, the tuG: ahaI1_ ap.ply. at the tl..;e of the commencement cf luch proeeedinga or at the tilDe the property ia otb acquired, the balance then remainillJ in the tunda accumulated under (l>) of par&lfaph 2 -preeedinf.u a eiedlt apinat the amount of CClpa} then remainiq unpaid under laid note 8Dcllhall properly adiuat aDJ PQ1Denta which ahall have ' made under (4) of aid parqraph. .. That he will pay all tu-.. ...--ta. water rate.. and other IOvemmental or municipal charJ(es, hes. or lmpolitiona. for which provlaion baa not been made hereinbefore. and in default thereof the mort- .... ...., PeT the ume; and that he will promptly deliver the oftkial receipta therefor to the Jr.ortcqee, 6. That he will permit, cOmmit. or lu~er no wute. impalrment. or deterioration of laid property or aDJ part thereof: and in the event of the failure of the mortcqor to keep the buildings on said i>rt!1llir.es and thOM to be erected OD laid premiaea. or improvementa thereon. in pod repair, the mortgagee may make IUch repain .. in ita diaeretion it may deem neceuary for the proper preaervation thereof, and the full amount of eaeh and every luch payment aha}l be immediately due' and payable, and Ihall be aecured by the lien of thia m~ . ' ' 6, That he will pay all and singular the costa. charpa. and expenaee, including reaaonable lawyer's fees, and COIta of abatracta 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 perform the agreementa and covp.nanta of said prom- iaaory note and this mortgage, and laid COIta, chargee, and expenaee shall be immediately due and pay- able and ahall be l8Cured by the lien of thia mortpp. 7. That he win keep the improvements now exiatiq or hereafter erected on the mortpaed property, inaured .. may be reqUired from time to time by the mortpgee qainst loa by fire and other hazards, caaualti... and contingenciee in such amounta and for lucn Perioda as may be required by mortgagee, and will pay promptly, when due, any premiums on such insurance for payment of which provision has not been made hereinbefore, All insurance shall be carried in companies approved by mortgagee and the policiee and renewals thereof &hall be held by mortgagee and have attached thereto Iou payable clauaee in favor of and in form acceptable to the mortaragee. In event of losa he will live immediate noti~~ mail to mortgagee, and mortgagee may make proof of Iou i.t not made promptly by mortgagor, and inaurance company concerned is hereby authorized and directed to make payment for such 1011 directly to mortgagee instead of to mortgagor and mort~ee jointly, and the insurance proceeds, or any part thereof, may be applied by mortgagee at ita option either to the reduction of the indebtedness herebyaecured or to the restoration or repair of the property damaged. In event of foreclosure of this rnortpp or other transfer of title to the mortgaged property in extinguishment of the indebtedness aecured hereby. all right, title. and intereat of the mortgagor in and to any insurance policies then in force ahall pall to the purchuer or grantee. 8. That the mortgqee may. at any time pendfnr a suIt upon this mortgage, apply to the court hav- ing jurildiction thereof for the appointment of a receiver, and luch court shal! forthwith appoint a receiver of the premiaea C\)vered hereby all and singular, including all ,and singular the income, profits, luues. and revenuee from whatever source derived, each and every of which, it being expressly under- .toad, ia hereby mortgaaed as if apecifically aiet forth and described in the granting and habendum clauses bereof, and IUeb receiver shall have all the broad and effective functions and powera in anywise entrusted by a court to a receiver, and such appointment shall be made by such court as an admitted equity and a matter of ablolute 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 renta, profita, income, issues, and revenues shall be applied by such receiver accordiq to the lien of thia mortgage and the practice of such 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 premises an amount at least equivalent to one-twelfth (~~2) of the aggregate of the twelve monthly installmenta payable in the then current year plus the actual amount of the annual tax~l ,aueaaments, water rates, anr' insurance premiums for such year not ccvered by the aforesaid monuuy j)&ymenta.' , 9. The mortgagor further covenanta that ahould this mortgage and the note secured hereby not be eligible for i"laurance under the National Housing Act within ~C- :'.;', ' from the date hereof (written ltater.\ent of any otftcer of the 1l'ederal Houaiq Administration or authoriz~ agent of the Federal Housing Commiuioner dated subsequent to the ~~. ~:, _ time from the date of this mortpp. declining to inaure said note and thia mortgage, "teing deemed conclusive proof of such in- eligibility). the mortgagee or the holder of the note may, at ita option, declare all sums secured hereby immediately due and payable. 10. That (<<) in the event of any breach of thia mortgage or default on the part of the mortgagor, or (l>) in the event that any of said Iwna of money herein relerred to be not promptl)' and fully paid with- out demand or notice, or (c) in the event that each and every the stipulations, agreements, conditions, and covenants of said note and thia mol'tpp. are not duly, promptly, and fully performed; then in either or any IUm event, the aid aggregate lum mentioned in said note then remaining unpaid, with interest accrued to that time, and all moneYI secured hereby, ahall become due and payable forthwith, or thereafter, at the option of said mortgagee. .. fully and completely as if all of the said sums of money were originally atip~llated to be paid on auch day, anything in said note or in this mortgage to the contrary notwitUtanding; and thereupon or thereafter, at the option of said mortgagee, without notice or demand, suit at law or in equity. may be proeecutlJd.. if all moneya secured hereby had matured prior to ita insti- tution. The mortcacee may forecloee this mortgqe, AI to the amount so declared due and payable, and the laid pnomiaea shall be sold to satisfy and pay the urne toget.her with coata, expense!', and allowances. In case Of partial foreclosure of thia mortpce. the mortpgecl prem~ shall be sold sub;ect to the con- tinuing lien of Ulia inortpp for the amount ,of the debt not thell-du~ and unpaid. In luch case the pro- vliiona of thia paracraph may again be 'avaiMd 4f. thereafter from time to time by the mortg.gee, -,. I ~. 11. That the mo~r will give immediate n6tice by mail to the mortpgee of any conveyance, tranlfer, or chanp of owne~ip 01 the PrelD_. 12. That no waiver o~,"'y covenant hereJ~ or of the obligation secured hereby ahall at any time thereafter be held to be a ~aiver of the terms hereof or of the note secured hereby. . ..J_ I . ---r ~-' -"-c;. -- -.~ ......-----.- ""- A... .~ . .... ...:- roO '" ....:' . ". -.J