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Home My WebLink About1082 o. R'l BO~ IIJlder (b) of puqraph 2 precedill2 aba1l DOt be lUfBclent to pq ~d rent" taxes and uaeaamenta and lnaunz::.rremiuma, a the cue may be, when the UDi. IbaIl become oiu. and payable, then the IIlOrtpaor pay to the J'DOriCaaee any amount ~H''''pY to make up th~ deftciency, on or before the date __ ~t ot ACh 1J'OUD(l1"ftlta, taxee, &UellID_ta, or lnaurance p...muma ahaJl be due. If at aD7 tiJM the JDOrtppr Iball __ to the mortppe in accordance with the provisiona of the note 8ICUI'tI4 hereby. tall paJlDat of tM _tire ~_ npr...ted thereby, the mortpaee.thall, :n com- pltiq the amowat of mch lDdebtMD'"'M credit to the accouDt of tM mortpaor all P9Dlenta made under the ~ of ~.) ot ~ph 2 he7eof whRh tlvl mortD8'ee hat not ~. obl~ated to pay to th, FecMral Hou.aiq ;ortdnl_,^- ad ~ tualalVA nmainiq in tile funda lICCumulated under the proviaiona of (b) of aa1cl piraaraph I. If there Mall be a default under &DT of the provialona of this mort,..e, re- 8UltiDa ill a pubijc ~ of the ~ covered hereby, or if the mortppe Kquirel the property other- wile after def.wt. the mortpaee shaD_ apjll7, At the time of the c,ommencement of .uc:h proceeding. or at the time the p~perty is othenn.e llCQuired, the balance then remaini11J in the funda accumulated under (bj of paracraph 2 precel'li:ta a cmit apinat the amount at principal then remainin. unpaid under Mid note aDd ahall properly uataD7 paymenta which aball have been made under (4) of said par~raph. .. That he will ~ aD tax.. "M-eu.ta, water rateI. and other IOvemmental or municipal chartres, ftD-. or lmpoaitiona, for which proviaiOll baa not been made hereinbefore, and in default thereof the mort- ..... mq pay the lUDe; aDd that he wiD promptly deliver the omc1al rec:eipta therefor to the mort.agee. ~. That he will permit, COIIUIlit, or .wrer no wate, impairm8l1t, or deteriol'ltion of said p!'operty or aD7 part thereof; and in the event of the failure of the moi1gqor to keep the bllildinp on Pia premises aDd thOle to be erected OIl lAid pl'Wl'l~. or improvementa ther.oo. in aood repail", the mortgagee may make .uch repain u in ita diseretion it may deem neeeuary for the proper pTyervation thereof, and the tun amount of each and every audl payment lhall be immediately due and payable, and shall be secured by the lien of thia mortpp. - 8. That. be will pay all and linaular the eoeta, charpl, and expenses, including reUonable lawyer's fee., and ~ of abltracta of tit1e,l1lCUrred or paid at any time by the mortgqee because of the failure on the part of the mortcalrOr promptly and fully to perfonn the aarreementa and covenanta of said prom- laaol7 note ant! thia mol'tpp, aDd aald eoeta, cbarpI. aDd expenaee ahall be immediately due and pay- able and ahaIl be aecured by tho lien of thia mortpp. - - - 7. That he will keep the improvementa now exiatina or htl&eafter erected on the mortppd property, inaured a II1A1 be required from time to time by the mortaaPe uainst Iou by fire and other hazards, cuualtiee, aDd continpncill in IUch amounta and for IUcl1 p.rioCla sa may be required by mortgagee, and will ~rompt1y, when due, aDY premiuma on such insurance for payment of which provision haa not been hereinbefore. All inaurance .han be carried in companies approved by mortgagee and the policill ad renew'" thereof ahaII be held by mortppe and have attached thereto Iou payable claUIII ill favor of and in form acceptable to the mOJ't&'a,lee. In event of Iou he will aive immediate noti~ mail to mort..... and mol18'Qee may make proof of Iou if not made promptly by mortgagor, ad inaurance company eoncem~ 11 hereby authorized and dh.-ec:ted to make payment for such Iou directly to mon:aa.ee instead of to mortPaOr and mortaaaee jointly, and the insurance proceeds, or aD7 part thereof, m&7 6e applied by mortppe at ita option eith.r to the reduction of the indebtedneaa herebyaecured or to the l'lltoration or repair of the {)roperty damapd. In event of foreclosure of this mortpp or other tranafc:~ of title to the mortp,pd property in extiquishment of the indebtedneaa MCUiecfhereby, an rilht, title, and intereet of the mortppr in and to any inaurance policies then in force Iba11 ~ to the purcbuer or anntee. 8. That the mortppe may, at an)' time pendin. a lult upon thia mort.-.e, apply to the court hav- ~uriIdietion thereof for the appointment of a receiver, and auch court shan forthwith appoint a vel' of the prem~ covered hereby all and ailllular, Includin. an and singular the income, proftta, iMueI, aDd nveIlUII from whatever IOUI'C8 derived, MCh and ever)' of which, It being expreaaly under- atoocl. fa hereby mon.aaed a if aDeCiftcaD7 eet forth aDd deacribed in the granting and habendum clauses h~d Aeh reCerver IhaJl have aU the broad and effective functiona and. powen in anywise ent. by a court to a receiver, and neb appointment ahall be made by such court sa an admitted equity and a matter of abIo1ute riPt to aaid mortaqee, and without reference to the adequacy or inad- eqaaey of the. value of the property monaaaed or to the M)lvency or insolvency of ..id mort.aaor or the defendant.. aDd that .uch rent., profita, lncome, luu... and revenuII aball be applied by luch receiver accordiu to the lien of thia mortDae and the pradice of anch court. In the event of any default on the part of tlle mOl"tcqor hereunder; tlie mortpaor qreea to pay to the mortaaa'ee on demand a a reason- able monthly rental for the premllea an amount at l-..t equivalent to one-twelfth (%1) of the aaregate of the twelve monthly inatallmenta payable in the then current year plus the actual amount of the annual tu~l. .!8''Mf-enta, water rat., and inauranee premiumlJ for .uch year not covered by the aforeuid mOl1U1Q' p&7I1lenta. . 9, The mortppr f1art:Mr ~eDaDta that ahould this moJjpp and the note secured hereby not be eligible for inauraDce UDder the NatioI1a1 Hoaaiq Aet within 30 DA'{~ from the date hereof (writta dat8DClDt of AD7 oftker of the FtlderaJ Houaiq Adminiatration or authorbed agent of the Federal Houaiq Comnll..loner dated .ubHQuent to the 30 DAYS time from the date of this mortpp. _11.-1. to inIun aald note an4 thia mortpp, &erna cTeemecl conclusive proof of .ueh in- eli8lbUlt7), the mortpaee or the bold... of the not. may, at ita option. declare all.uma IICUred hereby ~ due &Del....,.... 10. 'l'hat (.) ill the 4mJlt of aD1' brueh of tbia mortpp or default on the part of the mortpaor or (t) Ill.. ~t that &DT of aald .ama of mOM)' herein refeired to be not promptly and fully paid with- Oat jv-Aft'\l 01' DOtice. or (e) fa the went that eaeh aDd fIWIfY the Itlpulatlona, qTe8Jnenta, conditlona, .... fIO'NUIIta of aaid 1IOtAt and thia I1lOl'tpp, are DOt duly, promptly, and tully performed; then in either or aDT IIIdl ewIIlt, the Iatd aarePte aum IDfJIltioDed In uld note then rema1nlnc unpai~.. with ~ accrued to that time, amd aD JDODe)'a aecand Unby, ahall become due and payAble fortllwith, ell' u...fter at th. option of aaId JDOI'tppe. AI tulll' and comD1etel1 aif all of th.laid.wna of money ... ~;Upalated to be)}lUd OIl Aeh dq, &ft7tJiiq ill wa note or in thia moripp to the contraJ'1 w-I ; ADd tMrftj)OD or thereafter. at the optiOll of uW mortpaee, withOut notice or demal1d, IUit.1aw .iIi~i~ lie ~ _ if all mGDqa MCUnd hft'eb, Ud matured prior to ita inati- t8UoD. fte mortppe may forecloM.th1al ~n.Iae... to the &m01iat 10 declared due and payable, and the aJd DI"fIJ1fIIIIhiD be .old to I&tI8f1 ancl ~.. auM topther with eo.tI. apenaea. and a11ow&neel. :r..-;zl~~~ j:. fa ~. febt.ortaDd.. ~ IhaD be aoJd lubJeet to the eon- __ _ ~ lot ~r Of 1M Dol then due aDcllln~ III auch caM the pro. ...... of tIda 1Da7 be 1MIW at th___ flun tIm. to tbBe bJ the mortpaee. . 1~ 'tW the mGctPIw'lidt' &Il;.....'-ta -.. .., ..u to tIM' ~. . -. of U7 COIly.,.uce, .....,..IOi'~,qpofcnr......~~~'T. 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