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Home My WebLink About1077 '" " - . '. " , . ': ' , ,', '.' <,. " :" ',,",- '. '" ~,". . ' , I.:. ': ': . _ ' . : ' ':'. '. :', ,"' .- . .... .'.,.. \- .'. . . '" I ib~i 14 PACE 327 IIIlder (6) of puapoaph 1 ~"a abaiw.~~lll~ _ rata, tAx.. Ucl..1T1,.....ta ud iDauraDCe. J)ftlIIliama. u tbe cue ID&7 be, whet:. the IUDI IIWl t-4CClIM ... aacI DUabIe. then tIM mortall&or ahaII pq to the IDCJItcapa aar amount nee ''''1'7 to mab Gp the ~, R . before tile date wile pa.ymeIlt of a1Mh pQUDcll'8Ilta. tu-. ,,-"-.ata, or lD8.aaDce pnmiwu aball be due. U at any time the mortppr ahaIl ten_ to the ~ iD MCOrdaDce with tM J)l'OYiaiou of the not.e aeeured hereby, fall payDMIlt of the..usn IDdebtecIneII repr.-t.td tMrebJ, thtmortppe aha11, in com- ~tiDa the amount of .ueh iDdebtedll-. credit to the accowlt of the mortpaor all ~..ta made under the ~na of (II) of panp-aph I..., whic!l the mortppe baa DOt become obUpted to pay to tIM Federal Roam. CQnunt~"lMI' aDd au l).tal.......JW1l....inr: hi the taMa accumulated under the provlaiou of (b) of aald ~ I. If there '.un be a default UDder U7 of tbe prcwiakm of thia mort.., n- .ultiDc in a paDlie ... of the premw. -covered hereby 01' if the mortppe 8CQ1llrej the property oth.... wWe after default, the JDbI'taaaree aha8=1y, at thetbeofthecommencemenlof.uehp::oeeedinporat the time the property ia othei'WiM acqu , the ba1aDce thtm ~ in th'J funda accumulated under (b) of pancrapn 2 Drecedina u a ~t &pinat the amount of pal then remainina unpaid under aaid note aDd ehall piOperly adjuat any paymenta which aba1l have ~ under (4) of aatd par-.raph. 4. That he will pay all taxea, ......--ta. water rate., and other penunentalor municipal char8el, ftnea, or impoeitiOI1l, for which provWon hu not been made hereinbefore, and in default tMreof the 1IlQrt- p,pe may pay the same; and that he will prompt!)' deliver the omcial ~pta therefor to the mortppe, 6. 1'hat he will permit, commit, or .uffer no wute, impairment, or deterioration of aaid property or any part thereof; and in the event of.the failure of the mortpaor to keep the buildinp on saiei premiaea and those to be erected on said pr-ni_, or imllrovementa tfieieon, in"&OOd repair, the mortgagee may make such repairs.. in ita diacretion it may deemne~ for the proper preservation thereof, and the full amount of each and every .uch payment ahall be immediately due and payable, and shall be secured by the lien of thia mortaaP- . 6. That he will pay all and sinaular the coats: charpa, and expenaea, including I"eU\)nable lawyer's fees, and costs of abstracts 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 agreements and covenants of uid prom- iuory note and thia mortaaKe. and laid coats, chargea, and expenaea ahaU be immediately due and pay- able and ahall be secured by the lien of thi. mortpge. - 7. That he will keep the improvempota 1l0W exiatiq or hereafter erected on the mongqed property, iuured .. may be required from time to time by the mortgagee agaiut loaa by ftre and other hazardl', casualties, and contingencies in such amounts and for SUCD periods .. may be required by mortgagee, and will pay promp~ly, when due, ~y premiums on such !nsu~ance for payment of which provision has not been made herembefore. AU luurance sha)) be earned m companies approved by mortgagee and the policiea and renew ala thereof ah~l be held by mortgagee and have attached thereto Iou payable e~ in favor of and in fonn acceptable to the mortgagee. In event of lOll he wi)) give immediate noti~ mail to mortgaaee. and mortgagee may make proof of 1088 if not made promptly by mortgagor, and insurance company concerned i. hereby authorized arid directed to make payment for such Iou directly to mortgagee instead of to mortgagor and mortgaaee jointly, and the insurance proceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedneas hereby secured or to the reatoration or repair of the property damaged. In event of foreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, an right, title, and interest of the mortgqor in and to any insurance policies then in force shall pus to the purchaser or erantee. 8. That: the mortgagee may, at any time pending a .uit upon thia mortgage, apply to the court hav- ing juriadiction thereof for the appointment of a receiver, and such court aha)) forthwith appoint a receiver of the premises covered hereby all and singular, including an and singular the income, profits, iuuee, and revenues from whatever IOUrce derived, each and every of which, it being expreaaly under- stood, ia hereby mortgaged as if speciftcally aet forth and described in the granting and habendum clauses hereof, and such receiver ahan have all the broaa and effective functions and powers in anywise entruated by a court to a receiver, and such apPointment .hall 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 101vency or insolvency of said mortgago:o 01' the defendanta, and that such rents, profits, income, luues, and revenues sha)) be applied by such receiver according 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 ()De-twelfth (1/~2) of the aggregate of the twelve monthly installments ..yable in the then current year plus the actual amount of the annual tax~l aaaeaaments, water rates, and insurance premiuma for such year not covered by the aforeuid monUlly payments. ' 9. The mortgagor further covenants that ahould this mortgage and the note secured hereby not be eligible for insuran~ under the National Housing Act within 3Q DAYS from the date hereof (written statement of any officer of the Federal Housial Administration or authorized agent of the Federal Housing Commiaaioner dated subsequent tv the 30 PAYS " time from the date of this mortgap, declining to insure said note and thia mortgage, 6emg deemed conclusive proof of such in- , eligibility), the mortgape or the holder of the note may, at its option, declare an aums ~ured hereby · immediately due and payable. 10. That (II) in the event of any breach of this mortgage or default on the part of the mortgagor, or (b) in the event that any of said sums of money herein referred to be not promptl)' and fully paid with- out demand or notice, or (c) in the event that each and every the atipulations, qreements, conditiona, and covenants of said note and this mortpp, are not duly, promptly, and full)' perfonned; then in either or any such event, the said aggrepte .wn mentioned in aid note then remaining unpaid, with interest acc:rued to that time, and an money. secured hereby, ahall become due and payable forthwith, or thereafter, at the option of said mortppe, u tully and completely.. if all of the said suma of money were origilUllly stipulated to be paid on .uch day, anything in said note or in thia mortple to the contrary nO\."withatandiq; and thereupon or thereafter, at the option of ..id mortgagee, without notice or demand, nit at law or in equity, may be pl"OMCuted .. if all moneys secured hereby had matured prior to ita inati- tution. The mortppe may foreelole thi. mortaqe, .. to the amount 80 declared due and payable, and the aaid premiaea shall be IOld to aatjafy and pay tfie urne topther with coata., 8X?8naea, and anowancea. In cue of partial foreclo.ure of this mortpp. the morlppd premlaea ahall be told .ubject to the COD- tlnuiq lien of thia mortpp for the 'amount of the debt not then due and un)Xlid. In .uch cue the p~ viaiona of thia parqraph may &pin be avai~ of thereaft6r from time to time by the mortgagee. 1 t. That the mortppr ",iD ~ve immediate notice by mall to the mortpaee of any conveyance, ~fer, or change of ownenhip of the pnmiaeL 12. That no waiver of any c:ovenat herein or of the obligation 'aeeured hereby .... at any time thereafter be held to be a waiver of the tenna hereof or of the note MCUreCI herebr. _ ,-~-.- . , - - - ~._-- .~~--