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Home My WebLink About1700 ~b~~ 15 PAGE250 -' . '. T J Illr rnuwn, HA. under (b) al parqraph 2 preeediq ahall nOt M'IImIrelftl to pQ' lI'Oundrenta, taxes and aaaea&menta and inauran~rremiuma, aa the case mq be. when the aame aball become due and payable. then the mortaqor pay to the morta... auy amount neceuary to mU9 up the deficiency. on or before the date when payment of auch around renta. tax., "eMmenta. or inala'&llce premiuma ahall be dUe. If at ally time the mortcqor ahall tender to the mortppe in accordance with the proviaiona of the note lleCured hereby full i'vment of the entire indebted...... repreMllted thereby. the mortaapie aIlall, in com- puting the amOunt of .uch indebtedneu, credit to the account of the mortaacor all papnenta made under the proviaiona of (4) of puqraph 2 hereof which the mortppe haa not become obhpted to pa)' to the Federal Houaiq Commiuioner and any balance remainiq in the funda accumulated under the provisions al (b) of &aid pu'aaraph 2. It th81'e ahall be a default under any of the proviaiona of thia mortgage. re- aulting ill a public aale of the premiaee covered hereby. or if the mortgagee acquires the property'other- wile after default, the mo~ ahaJl apply. at the time of the commencement of such proceedings or at the time the property ia othennae acquired. the balance then remaining in the lunda accumulated under (b) of JW'A81'&ph 2 p~inr.aa a credit qainat the amount of principal then remaining unpaid under aid note and Ihall properly alJjuat any paymenta which ahall have been made under (o)'of said paragraph. .. That he will pay all taxes, ......--enta, water rate., and othv ~vernmenta1 or municipal charges, ftnee, or impoaitiona. for which proviaion baa not been made hereinbefore, and in default thereof the mort- gagee mq pay the aame; and that he will promptly deliver the official receipts therefor to the Jr.ortga~. 6. That he will permit. commit, or su'fter no wute, impairment, or deterioration of said property or any part thereof; and in the event of the failure of the mortgaaor to keep the buildingl on said premises and thOlle to be erected on aid premiaea. or improvementa tfiereon, in aood repair, the mortgagee may make such repairs as in its diacretion it may deem neceaaary for the proper preservation thereof, and the full amount of each and every such payment ..hall be immediately due and payable. and 8hall be secured by the lien of this mo~ 6. That he will pay all and aingula!' the casta. c~ and expenses. including reasonable lawyer's fees. uJ coeta 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 perfonn the qreemenbl and covenants of said prom- iaaory note and thia mortP&e. and said costa. chara-. and expenaes shall be immediately due and pay_ able and ahall be secured by the lien of this mortpp. 7. That he will keep the improvementa now exiating or hereafter erected on the mortgaged property. insured as may be reqUired from time to time by the mol'tlraaee qainst Iou by fire and other hazards. eaaualtiee. ~d contingencies in such amounta and for sucn Perioda as may be required by mortgagee, and will pay promptly. when due. any premiurna on 8uch inaurance for payment of which provision has not been made hereinbefore. All insurance ahall be carried in companies approved by mortgagee and the policies and renewala thereof shall be held by mortg&aee and have attached thereto Iou payable clauses in favor of and in fonn acceptable to the mortgape. In event of Iou he will give immediate notice by mail to mortgagee. and mortga~ may make proof of Iou if not made promptly by mortgagor. and each insurance company concerned ia hereby authQrized and directed to make payment for such loea directly to mortgagee instead of to mortgagor and mortgagee jointly. and the insurance proceeds, or any part t.hereof. may be applied by mortgagee at ita option either to the reduction of the indebtedness hereby MCUred or to the reatoration or repair of the property damaged. In event of foreclosure of this mortpa'e or other transfer of title to the mortg~ property in extinauishment of the indebtedness secured hereby. all ri~tle. and intereet of the mortgaaor in and to any insurance policies then in force ah.n pus to the purc or arantee. 8. That the mortgaaee may. at any time pending a suit upon thia mortgaae. apply to the court hav- iq juriadiction thereof for the appointment of a receiver. and luch court shall forthwith appoint a receiver of the premiaee covered hereby all and singular. includiq all and singular the income. profibl, iaauee, and revenu_ from whatever source derived. each and every of which. it being expreaaly under- .tood. ia hereby mortppd .. if specifically set forth and deaeribed in the granting and habendum clauaee hereof. and .uch receiver ahall have all the broad and effective functioM and powen in anywise entruated by a court to a rece\ver. and such appointment shall be made by such court as an admitted equity and a matter of abeolute right to aaid mortgagee. and without reference to the adequacy or inad- equacy of the value of the property mort.paed or to the solvency or inaolvency of said mortgagor or the defendant&, and that such rent&, profita, lDcome, iaauee. and revenues shan be applied by such receiver accorcl.ing to the lien ot thia mortpae and the pnctice of .uch court. In the event of any default on the part of the mortgagor hereunder, the mortgagor &&,ree& to pay to the mortgagee on demand 88 a reason- able monthly rental for the premISes an amount at least equivalent to one-twelfth Bh) of the aggregate of the twelve monthly iMtallmenta payable in the then current year plus the actual amount of the annual tax~l ....~.ments. water ratea. and inaurance premiums for allch year not covered by the aforesaid monuuy payment&. . 9. The mortgagor further covenants that should thia mortpp and the note secured hereby not be eligible for inaurance under the National Housiq Act within 3Q "PAYS from the date hereof (written statement of any oftleer of the Federal Houaiq Admlnl~trafion or authorized agent of the Federal Housing Commiuioner dated .ubeequent to the 30 DAYS time from the date of thia mortpp, declining to inaure aaid note and thia mortcage. 6eiq cfeemed conclusive proof of luch in- el~llitJ"), the mortppe or the holder of the note m&7, at ita option. declare all sums secured hereby immediatel7 due and payable. 10. That (4) in the ev..t of any breach of thia mo~ or default OD the part of the mortpgor, or (b) in the event that &D7 of laid.uma of mOllq herein rexerred to be not i-tori1ptly and fully paid with- out demand or notice, or (e) in the event that each and every the .tipulationa, a,areementa, conditiona, and covenanta of &aid DOte and thia mortpp, are DOt dul" promptly. and fully perfor.ned; then in either or &D7 lOCh event, the aald agrepte awn mentioned in Mid note then remaining unpaid, with inter.t accruecI to that time, aDd aU moo.,. aecured hereby; Ihall become due and paya;;,;e forthwith, or thereafter. at the OJ'tiOll of aaid IDOl"tppe, u fully aDd OOIllJ;letely.. if all of the oaid sum. of money were o~ atipalated to be paid OIl auell day. &D7thiq in aid note or in this mortpge to the contrary ~; and thf..n\I~ or thereaftao, lit the opti* ot.W ~~ *ithout notice or de:n&lld, IUlt at law 01' in equity, DUl7 )H"OMeuted.. If all mon.,. MeUnd hereby had matured ..ri6i' to ita inatI. tutioD. The mortppe mn)' foreclole tbia mortpp, u to the unount ao declared due and parable, and the I&id ~~~ abaD be I<'Jcl to a&t1afy aM PaY tile aame topther with COIta. 4IXpeDaea, and allowaneea. III cue ........ forecJo.ure ot thla mortaui. the morta5pd premlaea ahaU be aoId .ubject to the con. tlnuiq lieD of Qlia mortpse for tIW amouDt-ot the debt DOt tIuiD clue and unpaid. In .uch cue the p-. YiaioDa dl thJa ~ ~,ap!n be avalW of thereafter from time to time by the mortgape. 11. ".. the ~' wW-'vttu.m.cuate DCJtiee.b7....u to the m0rtpp8 of aD7 CODvqance, tnDaf.., or .... of ow....., tile ....-... ..... 11.' Ttiit no waJ'm' of ID1 covenant heNha or of the ~ IeCUred hereby IbaD at '&117 time thereafter be beIcI to be . wamr of th. __ herNf 01' 01 the DOteI8CUl'ecl hereby. , . ..... " .f , 'I ), - ,