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Home My WebLink About2518 ~~~~ it) PAf.E 30S .. . .-.-.... r.. .. - ... r. I ,," yr. .' under (b) of paraanph 2 precediq ,'"" not &..len't to pay pound renta. taxes and a.ueumenta and inaurance rremiUJDa, aa the cue may be, when the aame shall become due and payable, then the mortgagor shal pay to the mortgqee any amount neceaaary to make up the deficiency, on or before the date when payment of auch P'Ound rente. tuN, "Mlmenta, or inaurance premiuma shall be due, If at any time the mortl(qor shall tender to the mortgagee in accordance with the provisions of the note aecured hereby, full payment of the entire indebtedness repreaented thereby, the mOr1:paree shall, in com- putiq the amount of aueh indebtedneu, credit to the account of the mortplOr all papnents made under the provisions of (4) of paracraph 2 hereof which the mortaagee haa not become obhgated to pay to the Federal Houaiq Commiaaioner and any balance remaini~ in the funda accumulated under the provisions of (b) of laid paragraph 2. If thel"e shall be a default under any of the provisiolUo :>f this mortgage, re- lultiq in a public sale c.t the premiaea covered hereby. or if the mort&agee acquires the property other- wise after default, the mort&~ shall apply, at the time of the commencement of such proceedings or at the time the property is otherwlae acquired, the balance then remaining in the funds nccumulated under (b) of paragraph ~ precedin,.aa a credit against the amount of principal then remaining unpaid under Did note and shall properly adjuat any payments which shan have been made under (4) of s,,,id paragraph, 4, That he will pay all taxes, aaaeaamenta. water ratee, and other governmental or municipal charges, fine!, or impositions, for which provision has not been made hereinbefore, and in default thereof the mort- &'&gee may pay the same; and that he will promptly deliver the official receipts therefor to the rr.ortgagee, 6, That he will permit, commit, or suffer no waste, impairment, or deterioration of said property or any part thereof; and in the event of the failure of the mortgagor to keep the buildings on saio premises and those to be erected on said premises, or improvementa thereon, in good repair, the mortgagee may make such repairs as in its discretion it may deem necessary for the proper preservation thereof, and the full amount of each and every such payment shall be immediately due and payable, and shall be secured by th€ lien of this mortgage. 6. That he will pay all and aingular the coats, charges, and expenses, including reasonable 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 said prom- i880ry note and this mortgage, and said coats, charges, and expenaea shall be immediately due and pay- . able and shall be secured by the lien of this mortgage, - ' 7, That he will keep the improvements now existing or hereafter erected on the mortgaged property, ill8ured as may be required from time to time by the mortgagee against loss by fire and other hazards, caaualtie8, and contingencie8 in such amounts and for such periods &8 may be required by mortgagee, and will pay promptly, when due, any premiums on such inaurance for payment of which provision has not been made hereinbefore, All insurance shall be carried in companies approved by mortgagee and the policie8 and renewals thereof shall be held by mortgagee and have attached thereto loss payable clauses in favor of and in fonn acceptable to the mortgagee, In event of loss he will give immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagor, and each inaurance company concerned is hereby authorized and directed to make payment for such Iou directly to mortgagee instead of to mortgagor and mortgagee jointly, and the ill8urance proceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclosure of this mortpge or other tranafer of title to the mortgaged property in extinguishment of the indebtedness aecured hereby, all right, title, and interest of the mQrtgag'or in and to any insurance policies then in force shall paaa to the purchuer or lTantee, 8, That the mortgagee may, at any time pending a euit upon this mortgage, apply to the court hav- ing jurisdiction thereof for .the appointment of a receiver, and such court shall forthwith appoint a receiver of the premi8e8 covered hereby all and singular, including all and singular the income, profits, , iaaUe8, and revenues from whatever source derived, each and every of which, it being expreS8ly under- stood, is hereby mortgaged &8 if specifically set forth and described in the granting and habendum clauses hereof, and such receiver shall have all the broad and effective functions and powen in anywise entrusted by a court to a receiver, and such appointment shall be made by such court &8 an admitted equity and a matter of absolute right to said mortgaget'o and without reference to the adequacy or inad- equacy of the value of the property mortgaged or to the solvency or inaolvency of said mortgagor or the defendants, and that such renb, profits, income, iaaUe8, and revenues shall be applied by such receiver accordin, to the lien of this 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 &8 a reason- able monthly rental for the premises an amount at least equivalent to one-twelfth n~2) of the aggregate of the twelve monthly inatallments payable in the then current year plus the actual amount of the annual taxea.aaaeaamenb, water ratee, and inaurance premiuma for auch year not covered by the aforesaid monthly payments, 9. The mortgal'Or further covenants that should this mortaa~ and the note secured hereby not be eligible for insurance under the National Houain, Act within 90 days from the date hereof (written statement of any officer of the Federal Houai~ Administration or authorized agent of the Federal Houai~ Commiaaioner dateO subsequent to the said time from the date of thia mortaaae, declining to insure said note and this mOr1:pge, being deemed conclusive proof of such in- eligibility). the mortrqee or the holder of the note may"at ita option, declare all sums secured hereby immediately due and payable. 10, That (4) in the event of any '>reach of this mortgage or default on the part of the mortpl'Or, or (b) in the event that any of aaid auma of money herein referred to be not promptl)' and fully paid with- out demand or notice, or (0) in the event that each and every the atipulationa. agreemenb, conditions and covenanta of laid note and thiI mortpp. are not duly. promptly, and fully perfonned; then i~ either or any web event. the aaid aarrepte .urn mentioned in aid note then remaining unpaid with interest accrued to that time, and all moneya IeCUred hereby, ahall become due and payable forthwith, or thereafter. at the option of said mortppe, as fully and compl~ely as if all of the said sumB of money were oririnally ltipulated to be paid on luch day, aD)'thin~ in said note or in this mortgage to the contrary notwithatandiq: and thereupon or thereafter, at the Option of aid mortgagee, without notice or demand, nit at law or in equity, m&7 be Pl'Ol8eUted.. if all moneys Meured hereby had matured prior to its insti- tution. The .1!i0l'tppe may foreeloee thia mortcqe. .. to the amoun,t 10 declared due and payable, and the l&id'~ shaD be IIOld to aatiaf, and pay the ume topther With coats. expenaea, and allowancea. ID cue of partial forecloaure of thiI mortPP. the mo~ premiael _hall Le sold lubject to the con- tinuiq 11_ of thia mortpp for the amount of the debt not then due and unpaid, In IUeb cue the pro- viaiona of this paracraph may -.ain be avai)ed of therafter from time to time by the mortppe, 11. 'nw.t the mortppr will srive immediate notice bJ mail to the mortppe of any convey&DCe, traufer. or ehana'e at oWnership of the preml-, 12. 'n1&t DO waiver of aD)' covenant herein or CJf the obliption aecured hereby IhaD at aD)' time thereafter be held to be a waiver of tHe terma hereof or 01 the note MCUJ'ed hereby. . I L