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Home My WebLink About0526 " r. ~ uClr C [\tiN TY \ H.. cndel' (b) of par~ph 2 prec.edin.a- man not he aufIlc::ient to pay ;round rent&, taxeo ad -......menta and inaurance premium5, &IS the cue may be. wWm the Mllle shan beeom" du~ A!ld payAbk. then the mo~r aha!} pay to the morta'qee an)- amount n~ to JUab up the detki~n(:y, on or before the dat.e when payment of ~ueh around 1'8I1ta. tax_, Ud6Ument&, or inaurance pl"WUiill11a sh...n be dUe. U at any timo the morqq'Or.aall ten"-.to ~e rno~ in BCCOrdanee with the proviaiOlUl uf the note teCured hereby, full payment of the entire mdebtedn848 reproaented thereby, the morta'&&ee sh211, in earn- :)Ulin~ ~e. !l.mount of Auch indebtec!neas. ,red it ~ th.e ,~count of the mortp,aor all payments made uuder the proY!Juona of (a) of paragraph 2 hereof whl(ll the mO~$8 haa not become obhgated to pay t.o t.M }I'ederal Ho~.ing Commiuioner and an, balance ramalnin8 in the lunda. . accWl'!ulated llnder tht' provisiotUl of (b) of I&1d ~&araph 2. If t.her~ ,hall be & default under any of the provlIiOM of th~ mortgage. re-- lulti~ in a public sale of tl\e prillm.. oovert'ld hereby, or if the tnorta'Ag~ &\.XIuires the propertv other- wise after default, th~ mortg~ &hall. apply, at the time of the commencement of such proceroirl'gs or at the time the property 13 otherwlM acqI.11~, ~e balance the:} remaining in the funda accumulated tinder (b) of pua,raph 2 precedmjf,aa a Credit &ilUNt ~ &mount of principal then remaining unpaid under said note and shall properly adjUl,t any payments which shall have bt.-.en made under (a) of said paragraph. ... That he will pay aU taxes, u.seumenta, water' rat.ea, and other governmental or munidpel charl{es, fines. or impm;itions, for which provision has not been made hereinbefore, and in default there()f tlw mort- gagee may pay the PJTle ; and that he will promptly deliver the offlcial r~eipta therefor to the n:ortgagee, 5. That he wiU pe~mit, commit, or 8utfe~ no waate, impairment, or deterioration of said pr0perty or a..IlY part thereof; and In the ~vent o~ the fa.l!Ul'tl. of the mortg'agorto keep the buil.dings on s;:;,i{i premises_ and those to be erected on said premises, or Improvement& thereon, In good repair, the mortgagee may make !Such repairs as in its discretion it may deem nec~ for the pro~r preservatIOn thereof, and the full amount 'J{ each !\nd every such payment ahall be unmed.iately due ~nd payable, and shall be secured by the lien of this mortgage. O. That he will pay all and sb1gular the costa, charges, and expenBe8, including reasonable lawyer's fees, and coots of abstracts of title, incurred or paid at any time by t.he mortgnget> because of the failure on the part of the mortgagor promptl~ and fully to perform the agreements and covenants of said prom- isaory note and this .mortgage. and saId costa, charges, and expenses shall be immediately due and pay- able and Ihall be secured by the lien of thil': mortgage. 7. That he will keep the irnprovemen~ now existing or hereafter erected on the mortgaged property, insured M may be required from time t.o time by the mortgagee against loss by fire and other hazards, CASualties, and contingencie.8 in such amounts and for such periods as may be required by mortgagee, and will pay promptly, when due, any premiums on such insurance for payment of which provision hail not been made hereinbefore. All in&urance shall be carried in companies approved by mortgagee and the policies and renewals thereof shall be held by mortgagee and have atta,:hed thereto los.s payable clauses in favor of and in form acceptablE: to the n19rtgagee, In event of 10M he will give immcdiate notice by mail tG mortgagee, and mortgage>: may make proof of loss if not made promptly by mortgagor, and each insurance company concel'l1ea is hereby authorized and directed to make payment for such loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by mortgagee at its optioIl either to the reduction of the indebtl'dncss hereby secured or to the restoration or repair of the property damaged. In event of forecimltlre of this mortgage or other transfer of title to the mortgagerl property in extinguishment of the inch'btednes8 secured hereby, all right, title, and interest of the mortgagor in and to an,' insurance polil:a;s then in forcf? shall pass to the purchaser or grantee. 8. That the mortgagee may, at ariy time pending a suit Ilpon this mortgage, apply to the court hav- ;ng jurisdiction thereof for the appotntment of a receiv~r, and such rourt 3hail forthwith apl)oint a receiver of the premises cGvererl hereby all and singular, including 1'.11 and singular the lnCOn1(', profIts, i88ues, and revenues from whatever source rlerived. each and every of which, it being expressly under- stood, ig hereby mortgaged as if Elpecifica!1y set forth and oeBcribed in the grallUng and habendum clauses hereof. and such r~eiver shall have all th~ broa d and effective functiona and p:lw,'rs in anywise ent.rusted by a court to a n>ceiver, and 8uch appointment shldl be made by such court as an admit.ted equity and a matter of ab&olute right to said mortgagl'e, and without reference to thl' adequacy or inad- equacy t)f the vaiue of the property mortgaged or to thl~ solven"y Of insol\'ency of said mortgagor or the defendanta, &nd that such rents, profits, income, issllt!s, and re\'enues shaH be applied by such r(,(,l'l\'('f according to the lien of this mortgag't' and the practice of such court. In the event of any default on the part of the mortgagor hereunder, the mortgagor a.grecs to pay to the mortgagee on demand as a reason- able mont.hly rcmal for th.~ premiSe'S an amount at least equivalent to one-twelfth (11:; of the aggregate of the twelve monthly installments pa,\'able in the then current year plus the actuai amount of the annllal taxes, a.sses..'Hnents, wat.er rait's, and insurance premiums for sllch ye.ar not cO\rrc(i by tll" aforesaid mont.hly payments. , .9. 'The ,mortgagor further co\'enal1t~ that ,should thi~ ~!)r,~~8ge .1l.1~V the nlM se\:ured her-pLy not be eligible for msurance under the NatIOnal HOU811lg Act wlthm ,:, ~I L \,..) from the' date hereof (written su.tement of any officer of the Federal Housing Administration or liuthoriwd agent of the Federal Housing CommL!',sioner dated 8ub~equent to the .... .', time from thf' !iate of this mcrtgag(~, ded:ning to in:sure gaid note and this mOl-tgage, lx>ing dCl'lill'd cunc1usiH proof of such in- eligibility), the m0rtj("agee or thl? hold~r of the note may, at it..'l optic;n, declare all surns s.x:urt:d hercb,' immediat€ly due and I}Ryable. 10, That (a) in the event of any breach of this mortgagf~ or dl,fr..ult on the part of the' mortg'iljl;('f, or (l1) in the €vent that allY of said ~U11i& of money h~'rein referred to t.1P not pnJmptir and fully paid with- {Jut d~mand or IlUt1("('! or (c) in the l'vent that each anct.>-H:'ery the f;tipu!atil);:~,.?/l.r0','rnellts, ~G'n.(:ition"'. ~ ~~[~~ ~:~:~ ~~:J:I:1;:~~,:~ ~'l:~:~i~;~l~\:~~:;:~: l~~al :i;;:;~~~;~~~::~~'~:J'~;ii,~;;~i<:;;~:l!:r.ll;':lii Ii l(\:l,I;:';:;;:'dl;: \'\1;\:1 ;1::;:t ':)'>~ ~:i;~::: i~:"~f:;~ ;\j~' \~:'; ~ \r: or iherceft.f!r! at th~~' opt:on of said nH)rtg9,.~ef.\ a,." fuUy and cotnph:ltp;y aR if all (}f1.h( ~H5,jd :d.il-iIEl; of rno!'i~~Y '~vere originHUy ;1tlpulatf:;d t.o bop p[:~\d '.,)1~ dueh dt~y, anyt.h~ng in ~..aid nqtf.' r~r in thic\ rnOttKHi{i~ t.e' the (':int~'ary not~'ith~~tanding; H.nd th~~r\~urr~)n or theresft~,'f. at. th~~ option of s1i.id rn'Jrt>;'aR:'~~; v.'ithout nDtj{'~~ Or' dprr~and, suit at law or in equity, m~y l?: prns€<ute-d M if all mni1eys 8e<~!lrcd hereb... h.-;d iYi'.i<tured prior to iL~ insti tUti(~D, The Ill<)rtg,iii((lo.f~ n1ay for€'C~:oilP ihig rnortp:8,g~:1 iiR tf) the azn(;unt 30 dpcla.red dtH:' and p~\)'~,u!e. and t}w iH..id. premi~e.g shall bt' twld to ~Jl.til.'Jy fHld pay t.he i'HUnt: togetlh'f with "osts. exp.miH'$, ):m<l allu'A',1ilCe,;;, l~~ cas~~ of parti.sJ foy(-~(:lo~H~rf' of this nH}'rtgag~:! th~3 fn(Hi.~k~,~t.~d prprni:-}e~~,h-idl b-t:- ~.old nUb]f:ct to tfH~ (~{_'n.. tin~Jlni li(~Ti of thla n)()~.tgkigf~ [0\'" the €t..fnount ~Jf tfH~~ fh~bt not fnen dUi~ R11:j unp.(%,~d. IL 3uch Ci"Wt' th,t:" pT'O~ Vil\j'j;U, of tbis P&Ill.g""aph may again Ix: avaikd of thttudter fronl tillw to tim" by ttic' ni{lrig;;~F;,i:'. 1}. 1'~ha.tl the rnf~rtga.j'nr ,'..1.:iH ~t\:'f lrnm~:li,8.t~ nn"tiC4? by rrHdl t.(r th~:.~ Inot'tg'1i,Rf.'e of A~-'~,Y ccn\"eY~j.iic.e-1 tt'-htL"$I~r~ or crH\nK(-~ of (H.vnergf1ip o'i tne preml~. 12, l'fha.f. hO ';~v,ai\-.er of a,r:\~ :~nVt:rH~nt h€rf~in nr (,1:! the (;bL~t1,tion ~h>1;:-~iri~d het~loby ~h3.n ~t ally t.itHe thcrf.jatt.{~~ i",,>(: tH.-hi to f,e Ii \~"&i\'er of th~~ t.errns hi~reor o.t' of the note ~K:l.Jr,('(i hf;reby.