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Home My WebLink About0693 o ~i 17,' '~7 ' 0 "uo ~ ll\AlUC!e~~ .. the taMJ ma,' be. ... ex4*l..... be erecIiW by the mortpaet ~ lIIlbNquet ,.,... to ,.,. ... ..,. the~. If, a.ow.wf' .. ~17 ~_ta ma.ct. by the IIlOI1caI<< ~ (b) 01 ~ I ~ ___ be 'l'~~_ -. PW""""ts, taxa u4 _-r~ta IIIIQ Iuuraaei DftIIli--.., .. th e&M ...., he, whtB . ......... ~ clue and ~ then the m~ ... IJ&1 to tht ~ uy amount ~.., to..:IN Q tM 416:ienci, On 01' before the elate ...... ~ ell .. ~ ..... tas-. ''If''lmeg. or iMarIImct pnmluma ahalI be due. II at aDY tiJM tN ~ -.an ..... u.. -.t"'. Ia ...... with the proviUona of the DO~ IeClUNd .......~ Nt ~.,.. enUN ~ npllla" tMftbJ, the IDOI'tIaIee lI1a11. iD. com- patbla the AJDOWtt Of rieda ,~ ", cnclit to the l'IlCICOWlt of the IDOl"tcaIor All ~ta nwte under the pivrir.iona of <.) 0I~ :: ....., ftWl tM ~ buDOt become obIipted to pay to tM FeMral HOWIbta C~ ad aQ' ~~ ~.ifti~ Ii tie lunda aecumulat4d under the pl'Qviliona 01 (b) of a&Ul ~ I. If there ..... be a.wAlt .... U)? of the proviak.DI of t.hJa mortaaae. re- IAlltiq 1D . pobIie .. of .. ......... eowncI ~t or if tM mort&'aPe aequiree the property other- wiM attw d<<lault" tM ~ Iball appIJ', at "1UMot"eammeDeeIneJltotaum~iDPorat tM time the property fa otMiWlae ICq1Ii.red. the ~IMCt .. ~u.l", in the fODda ~Qlated under (b) of parap'aph 2 pneedil1.l',- ~ cndft epiut the~, of DrincipaJ then rcnainiq unpaid under ia{d note aad.un properlJ adJUIt 6D7 P&.JIIMDta whicb Iball haft Men made UDder (a) of I&id parasraph. .. That be will pq aD ta:sea. "-~VieIlta, water ~ aD4 otMr IQVC1UMDtal or municipal eharpJ, ftDee, 01" impoCtiou, for which proViaioD baa DOt beoD made ~ore, and in defau~t thereof the mort- ,... mI\Y' paJ'the...... j and that he wiD ~ptly d.uver u.. aIldal receipta therefor to the mortpaee. - " IS. That he will permit, commit, or ader no .ute, impairJ:Mnt" or deterioration of said J,>roperty or an)' part thereof j and in the event of the failue of the mortpaor to keep the bulldinp on utQ premiaee, and th~ to be eneted OIlwd ~, or imPNvementa tieieOD. in poet repair, the mortgagee may make auch repaira.. in ita diaeretion it m&.1.geem ne< !IT'''' for the proper 'Prelel'Vation thereof, and the full amount of each and every auch pqment ibalI be immediate1)' due and pqable, and ahall be aecUl"ed by the lien of thia morfCap, , _' ' , 6. That he will pay all and aiqu1ar the co.ta, charp.,"and expe~ includinr reuonable lawyer'a fee., and ceata of abatraeta of title, incurred or paid at any time by the mortpaee beeauae of the failure on the put of the IDOI'tpaor prompt!7 and fQ~:~:orm the qreementa ana covenants of aid prom- iuory DOte and tbia mortpae, and uid carrtI, and expeue. 8hall be immediately due and pay- able and aball be ~ by the lien ~ thia mOl"tpp. - 7. That he will keep the improvement. now exiatlq or hereafter en:cted on the mortgaged property, iDaured .. may be reqUIred from time to time by the -mortaaaee apinat loaa by fire and other hazards, cuua1tie1, :and continpncies in .uch amounta and for .uell Perloda .. may be required by mortragee, and will pay promptly, when due, any premiwn& on such inaurance for -paYment of which provision haa not been made hereinbefore. All imurance ahall be earried in companl. approved by mortgagee and the polieiell and renewala thereof ahall be held by mortppe and have attached thereto Iou payable e"~ in fav6~ of and in form acceptable to the mortpcee. In event of Iou he will iPve immediate Doti~t mail tQ mortgagee, anc! mortpaee may make proof of Iou if not made promptly by mortgagor, . and inaurance company CODt'Arnect 1& hereby authorised and di~ to make payment for aueh 1011 direetly to mortaqee instead of to mortpaor and mortgagee jointly, and the inauranee proceeds, or any part thereof, may De applied by mortgagee at ita option either to the reduction of the indebtedneu hereby MCUI'ed or to the reetoration or repair o( the {)roperty da.mqed. In event of foreel(>>ure of this mortcaae or other tranafer of title to the mortppd properlJ' in exUn.cWahment of the indebtedness aecured hereby, all riPt, title, and intere.t of the mortpaor in and to any lDIu.-ance policies then in force ahal1 pus to the pun-1Iaier or srantM. 8. That the mortgape may, at any time pending.. auit upon this morta'qe, apply to the court hav- ~~uriadietion thereof for the appointment af a receiver, and luch court ~han forthwith appoint a ver of the premises covered hereby all and aillJUlar, including all and ain~lar the ineorne, profits, iuuea, and revenues from whatever 8OW'C8 derived, each and every of whieh, It being expreealy under- stood, ia hereby mortppd AI if .peeifteally set forth and deaeribed in the lP'anting and habendum e1auaea hereof. and auch receiver ahal1 have an the broad and effective functions and powers in anywise entruted by a court to a receiver. and such appointment shall be made by such court aa an admitted equity and a matter of ab.olute right to said mortga&ee, and without reference to the 8dequacy or inad- equacy of the value of the property mortpged or to the solvency or illlOlvency of said mortgagor or the defendanta, and that BUch renta, profita, income, iaa\lea, and revenuee shall be applied by such receiver accordin, to the lien of thia mortgage and the practice of auell court. In the event of any default on the part of the mortgacor hereunderl the mortgagor ~ to pay to the mortgagee on demand 88 a reuon- able monthly rental for the prenuaee an amount at leaat equivalent to on&otwelfth (Vtt) of the aggregate of the twelve monthly inataUmenta payable in the then current year plua the actual amount of the annual taxea 88I~.menta, water rates, and insurance preIXIiuma for .uch year not covered by the aforesaid mont.h11 pqmenta. 9. The mortgagor further covelWlts that should this mortllaj'e and the note secured hereby not be eligible for insurance under the National Houaing Act within ~_O DAYS from the date hereof (written statement of any officer of the Federal Housin, Administration or authori&ed agent "f the Federal Housing Commiuioner dated subsequent to the 30 DAYS time from the date of this mortgage, declining to insure said note and this mortgage, being creemed conclusive proof of such in. eligibility), the mortgape or the holder of the note may, at ita option, declare all suma secured hereby immediately due and payable. . 10. That (a) 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 aUlDl of money herein, referred to be not promptly and fully paid with- out demand or notice, or (e) in the event that each and every the stipulations, agreem~nUJ, conditiol18, and covenanta of said note and this mortgage, are not duly, promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned in said note then remaining unpaid, with interest accrued to that time, and all moneys HCUred hereby, shall become due and payable forthwith, or thereafter, at the option of said m~, aa fully and tompletely aa if all of the said sums of money were orginally stipulated to be paid on such d~y. anything in lAid note or in this mortgage to the contrary notwithstanding; and thereupon or thereafter, at the-option of laid mortpgee, without notice or demand, suit at law or in equity, may be prosecuted ILl if all moneys secured hereby had matured prior to ita inati- tution. The mortgagee may foreclose this morlpJ'(!, as to the amount 80 declared due and payable, and the said premises shall be sold to aatiafy and pay the same tOlether with costa, expeMe8, and allowances. In cue of partial foreclosure of thia mortpp, the mortaralred pran. shall be sold subject to the eon- tinuing lien of this mortgage for the amount of the debt not then due and unpaid. In such c.ue the pro- vi.iona of this par~aph may &pin be availed of thereafter from time to time by the mortgagee. 11, 'rhat the mortgagor will give iDutlediate notice by mail to the mortpaee of any conveyance, tranafer. or chanp of ownenbip of the prein1Iea. 12, That no waiver of any covenant harein or of thl! obllgationsecured h~reby shall at any time thereafter be held to be a waiver of the terma he)'eOf or of tl)e.note secured hereby. - _.1 '''-~'-.r-~ ___~_.".'....._-.... -- -'-'---