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Home My WebLink About0310 andv (b) at fNU'~~ 2 precedin.~ili 6i~to paJ ~ reo., wee *MllIJnlOl1tl1 .00 bUnll'~~"~ .. the C&M .. be. wh_ tiM I&IM alialIlMcoIbe due and. &>>:I.... then the ~r pay to . mQl1a~ QJ amount MOIlNN'f i:o ... ap the de6eieaq, .... before tho .ate .hen paytDant .r aud1 8I'OUDd renta. tuM, ~ (It ~ pnmiuma Maft be due. :rt ..t U1 tim.fJ t.M ~ripcoJ .. ..... to tae ~ ill ~ wit1l .. proviai.eN of the .. aeeured hereb,. M1 ~t of the ~~.. ftPI--W UileNby, the ~ Ihall, in ~ putiq theamowat of well ~, credit to the aceoua.t of the ..rtpcor all ~tI made unw the ~ of (Ai of ~ I hereof which the ~ _.. become oblipt.td to pay to tM Federal ~ ~ner .ad .. ~,~:rem~ hi the~. i aceumulated Im_ the provisioQi ~t (,.) of &aid ~-.ph I. If there ~ be a dafaWt UDder aDJ'" of the proviaioDa of thJa mortPae, No .~~ ill " JNblie .. of the PJ'SIliaM oovered hereby. or it the ~ acquirol the property ot.M.fo-. WUIEI ~!" defau)t, t1M mo~ IhIIIl apply. at the tim. ()f the eoauneneement of .neb proceedinp or at the time the property is othM"W18e ~reci, the baIanee then NflWfthlJ in the funda accumulated under (b) of ~h 2 preeed.ini,u a cn:dit apinat ~ amount of PrinC1pal then remainina unpaid u. nder aald n~ aad shall properly adjuat any payments whIch shall have been made under (a) of aid paragraph. 4. That bit will pay aJl tax., aueument.a, water ratea, a&.i other &'Ov8I"Wneot&l or municipal ehupa. Anee.. or impoeitiOM, foe which provi8;on baa not been made hereinbefore, And in default thereof the mort- ppe may pay the Halle; and tlat he will promptly deliver the omciai ~pta ther8Ior to the :r.ortaqlee. 5. That he win permit, commit,"" au1fer no waate, impairment. or det.erioratibU of lAid pri>perty or any 'part thenof; and in the event of the fai~ure of the mortgllgOr to keep the buildinp on aaici premius and th~ to be erected on said pl'ElniMl, or improvementa thereon, in .-ood repair, the mort1(sgee may make such repain as in ita di8cretion it may dee.'ll neeeuary for the proper pre.ervation thereof, and the full amount of eacl1 and every such payment &hall 00 immediately due and payable, and shall be f\~ur.ed by the lien of thia mort;cap.., .. 6. That he will pay all AJ1d ainplar the cofis, e~. and expense8,includin, re8.80nable lawyer'. feee, and eosts of abetr~ta of title, incurred or paid at any time by the mortl'agee becaule of the failure on the part of the mortPaof promptly and fully to perform the qreementt and covenants of &aid prom- i8&Ory note and this morlPf{e, and Did eoata, charaee, and ex~ ,hall be inunediately due and pay- able and ahall be f.eCured by the lien of this mortpp. 7. That he will keep the improvementA now uiating Or hereafter eteeted on the mortgaged property, insu.red aa may be required. from time to time by the mortg$pe acahUlt lea by fire and other hazards, ea.sualti.. and contingencies in such amounts and for Buen periods ... may be required by mOl'qagee, and will pay promp~lY, when due, ~y premiums on such ~naU~&J1CE for ~ayment of w~ich pro,vision has not been made ,herembefore. All nu;uran~ shall be carrl~ lD compah1e8 approved Oy mortgagee and the policies and renewal8 thereof thall be held by molt~qee and have attached thereto loaa payable c1aIUM in favor of and in form acceptable to the mortgagee, In event of 1058 he will ~ve immediAte notice by mail to mortgagee, and mortgagee may mAke proof of IOY if not made promptly by mortgagor, and each insurance company concerned is hereby authorized and. directed to make payment for such 10811 directly to mortaragee instead ot to mortgagor and mortgagee joint1y, and the insurance proceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property dama~. In event of fored<*ure of this mortpge or other transfer of title to the mortga.goo property in extinguishment of the indebtedness aecured hereby, all right, title, and interest of the mortgagor in and to any inaurance policies then i:-: fOf('e &hall pua to the purehaaer or &Ta.nte6. 8. That the mortgagee may, at any time pending a suit upon thi.! m:)lti&2'(!, apply to the court hav- in, juri.diction thereof for the appointment of t1 receiver. and luch court shall torthwith appoint a receiver of the premiG~ covered hereby all and singular, including aU and singular the income, profits, ia8uca, and revenues from whatever source derived., eACh and every of.' which, it ~ing expreuly under- stood, i8 hereby mortgaged &8 if specifically 8et forth ...,d described in the granting Ilnd habendum clauses hereof, and such receiver shall have aU the br().lld and effective functiona .&nd powen in anywise entru$ted by a court to a receiver. and such appointment shall 'Je made by such court u an admitted (;'Quity and a matter of absolute right to Eaid mortgag€:e, and without reference to the adequacy or inad. equacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the defendtinu, and that such renw, prcfit8, income, issue8, and revenues shaH be applied by such receiver according to tile, lien of this mortga.ge and t.he practice of tluch 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 rea.son. able monthly rental fOT the premises an amount at least equivalent to one-twelfth (11:':) of the aggregate of the twelve monthly installment" payable in the then current year plus the actual amount of the annual taxes, a.sseMment8, water rate<!, and insurance premiums for such j'ear not covered by the aforesaid ttlOnthly payments. . 9. The mortgagor further covenants that should this mo rt.B.ll.l\.e .a1l~ the note secured hereby not be eligible for ill4urance under the National B:ousing Act within ::.') ,.IX;':.., from the date hereof (written statement of any officer of the Feder-al Housing Administration or authorized agent of the Federal Housing Cornmisaioner dated subsequent to the :::'. " ' time, from the dste of this mortilil'e, declining to insure said note and this mortgage, bemr d~med conclUSive proof of s~\:h In- elig-ibiHty-), the mortgagee or the holder of the note may, at ita optlOr., declare all liums secured llereby immedia~ly due and payable. 10. That (a) in the event of any breAch of this mortgage ordefault on th<; part of the mortg:,gor, ')1" (b) in the event that an~' of &aid sums of money herein referred to be n:..t p~0mptlr lOnd fully pad, wlth- Otlt demand or notice, or (c) in the event that each and every the 3tlpul&h~m~.agref;m..mt."I, condItIOn!>, und covenant! of Mid note and this mortgage, are not duiy, promptly, anr1 1ul!y p<.,:r1ormed; then1n r;i,th",t' or any tit!.:::h ew"nt, tlw !-laid a~ry'f'gate l,um mf.'!ltiO!l{'Q ii; said n,1te tr-l0n 'r'f':'mailling tmp3id, with Lrru+:.re$t. ace-ru(~d tp 'th4U. tirn~. H.nd &.n :r~,HrflE:Y$ 8f'1:Ut~1;d h€f'elJ:< i 8h,gJ; t,~'(:orne dLH: ~,r;d. ;:.ts.,vH,'ble .f ort;-i~' i tJ:, or th~re&ft,,'r, lit the opUon of. gsid mortgagee, aJi! f\.dly and completely 3-S if all of the 8.;iid Rums ~)f rnoney ~"ere oriiri.n.aHy ,5tlpuiat~ t.o b~ pajd (In ~PJch d3Jt~, .an;;thin~ in said nG-t-e or in thi:-; rnor:,gag'(' t:" ~,hf' contr~i.ry notwithst.anding; ...nd theTeU~"On or tha:reafts;r. at the optim\ of &lid m(;~tga.~e-\), withot; ~ notiCe or del~an.:L lmit at law or in. e-quity, may be pro~('utoc!!L..if a~l mon€'ya g{H~urecl h~)ret;y hail mat\H:w prll;lf tOlt.?: trlatl~ tU.tiorL The Inr..r'tgag...>e m. ,ay f.oreclose .this mortgs.ge, aJl to the amount ,so de'Clared. duo,! a.nll patat0:, aM th0 Il':ild premi~(:3 shaH be i&oid to SAtisfy and pay the aaroe tog>ethe~ ,:nth c~ts, e:xpen!>,;s, and. alhlwAm:es, !n 1~l'i.S~ of !)I.l.rtial fl)redo$l,l.re of this mortgage, the mortgaged p~ffilSt~ gnllll b;' !Jo!;:! 8uhJt.'('t if; th~ con. tinuing hen of thi! mortgllgt" for the amount of the Q{!bt not then due and IJfipAlfL In "u~h ea.'!e tb:', pro Vi8i()n~ of thjg parll\.g!"aph may ag~in l.-..e availed of thereaftl';t' from time to time by the mo!"tgag-ee. n. That tb-e IlwrtgRgor will give imluediate notice by mail to t.he mortgi!,ge€ of any (;(,nve)'li.liCe, tr-am;.fer, or change of oW1H:'l"ahjp of the premiaes, 12, Thl\t no waiver of all'! COVNllUlt h~r:;;fn or of th€, obliia.tiOI'; sef.;ul"efiMr-ooy ;llhllll g.t any i;1mf. tb~n~&.fl'Jr be held to l'€ B wa;~<j.r of th~ tt'ffl\~ hereof or {If the iHJt.e secuNld heltoby<