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Home My WebLink About0610 . " gb~~! 18 PAGf605 ':': ~LJCi[ ~~""iy\ fl'. ande~ (h) of para~ph 2 pr~ooin&, ahall not be auftkient to pay JTQund rent., tuea and UMUments .nd IlUmrfHlCe premlUffiS. as the ,~a.se m&y be, when the 8&me &hall become due '1nd pasa))le. then the mortgi'gOr shall pay to the mortgagee any amount necessary to make up the dflfideucy, on or before the date when payment of such iTound rents, tuea, &A8eumenta, or insurance premiuma .hall be dUe. If ",t any time the mortgAgor shall wnder to the morli&&"&o in accordance with the provisioruJ of the note 8~ur~ hereby, tuli payment of the entire indebt~nc8a rep~ented thereby, the morta'agee ,h~lI. in com- puting t.':te, lUllO'.mt ot such indebtedue8a, credit ~c the a<:count of the mortgagor all payments made und;:!r the provIsIOns of (a) of paragraph 2 bel'eo! whIch the mort&'agee haa not become obligated to pay to the Federal HO~8ing Commi:.wioner and any balance remaining in the funds accumulate-:i under the proviaiona of (b) of aald pa~'agraph 2. If thel~ &hAll be a default under any of the provisions of this mortgage. re- sulting in a public sale of the premises covered hereby, or if the mortgagee acquires the property other. wise after default. th~ mortg~ee shall. apply. at the time of the commencement of such pro<:t:-eding!! or at the time the property HI otl~en>nse acQUl~ed, t~e balance the:1 remaining in the lunds accumulate<Lunder (b) of paraa-raph 2 precedmg,8.8 a credIt against ~e lUllount of principal then remaining unpaid under said note and shall properly adJW5t any payments whIch shall have been made under (a) of said paragraph. 4. That he will p.a.j' all taxea, M8es3mentll, water rates, and other governmental or municipal charges, fines Qr impo3itioIls, for which provision haa not been made hereinbefore and in default thereof the mort- ga~ may pay the urne; and th.:lt he will promptly deliver the official rec'eipta therefor to the mortgagee. 5. That he will pe~mit, commit, or suffe~ no wa.ste, impairment, or deterioration of said property or any part thereof; and m the ~vent of. the fal~ure of the mortgagar to. keep the buildings on saia premises and those to be erected on said premises, or ImprovementlS thereon, In good repair, the mortgagee may make such repairs as in iUl discretion it may deem necessary for the proper preservation thereof. and the full amount of e~ch and every such payment shall be immediately due and payable, and shall be secured by the lien of thIS mortgage. 6, That he will pay all and singular the COSUl, charges, and expenses, including reasol1l\ule lawyer's fees and costa of abstracUl of title, incurred or paid at any time by the mortgagee because of the failure on the p~ of the mortgagor promptly and fully to perform the agreements and covenant.'! of said prom- issor'; note and this mortgage, and !laid cost.'!, charge.OJ, and expeJUlfS shall be immediateiy due and pav- able and shall be secured by the lien of this mortg&&"c. . 7. Th&t he will keep the improvemenUl now existing or hereafter erected on the mortgaged property, insured as may be required from time to time by the mortg&gee against loss by fire and other hazards, casualties, and contingencies 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 has not been made hereinbefore. All insurance shall be ('arried in companies approved by mortgagee and the policies and ..enewala thereof shall be held by mortgagee and have attached thereto loss payable clauses in favor of and in form 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 insurance company concerned is hereby authorized and directed to mak(~ payment for such 108s diredly to mortgagee instpad of to mortgagor and mortgagee jointiy, and the insurance pro(;l>t:ds, 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 mortgage or other transfer of title to the 1l1')rtgaged prop.=rty in extinguishment of the indebtedness secured hereby, all right, title, and interest of the mortgagor in and to sny insurance policies then in force shall pass to the purchaser or grantee. 8, That the mortgagee may, at any time p~nding a !luit upon this mortgage, apply to the court hav- ing jurisdiction therecf for the appointment of a receiver, and such court shall forthwith appoint a receiver of the premises covered hereby ail and singular, including all and singular the income. profits. issues, and revenues from whatever source derived. each and every of which, it being expressiy under- 8to<){], is hereby mortgaged as if specifically set forth and describEd in the granting and habendum c1au8t~S hereof, and such receiver shall have all the broa d and effective functions and powers in anywise entrusted by a court to a receiver, and such appointment shall be made by such court as an admitted equity and a matter of absolute right tv said mortgagee. and without refer....nce to the adequacy or inad- equacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the defendants, and that such rents, profits, income, issues. and rt;Venue5 shall be applied by such n'ceiver according 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 as a reason- able monthly rental for the premises an amount at Jea,,>t equivalent to onp-twelith (112) of the aggregate of the twelve monthly installments payable in the then current yroar plus the actual amount of the annual taxes asseS3me:1ts, v.'at.er rates, and insurance premiums for such year not covered by t.he aforesaid monthly payments. ' 9. The mortgagor further c:ovennnts that should this mo rtg3ge amI the nott' secured hereby not be elil{ible for insurance under the National Housing Act within 30 [)/,YQ from the date hereof (written statement of any officer of the Federal Housing Administration or authorized agent of the Federal Housing CommisSioner dated subsequent to the ...,'v ~>,\ l'S time f:-om the date of this mortgage, dedinillg' to imwre 3~id note and this mortgage, being ckC'met1 conclusive proof of such ili- eligibility). the mortgagee or the holder oi the note mf.y, at its option, ckdare all S'.lfllS secured hereby imrnediately due and payable. 10. Th&t (a) in the event of any breach of this mortgr~ge or c!Pfnult on the part of t:w mortgagor, or (b) in the Hent that any of said 3mn!) of mOlWY herein referred 10 be not promptly <.\nd fu!iy paid with- ou t den'! E!-Ul or notic~.!. 0"'1' (c) in tnf: event that e-?~C hand f.:\,(' fY the st i pu fa t. :UII';, ;.''ig' r(~t.'in\_' ii ts. CO!-id I t i (IPS, and cO't~e(t~.tnh'i of guld !lut.e Hnd t:Jiig rno!-tX"c~geJ arr> not duly, prnnqJt!y, i:did fu!ly p;;3rforrncd: thlT~ in eithf:r or allY such P\'.:nt. thp. i-!/iid aggn'gal? sum rrit'ntioned ir. ~aid not... l!:('fl relriaillir:~ unp"id, with intcic3t aC(,l:,Hcd to that ,irne, Friel all Inon0ya sccmd hereby, 5kd] bct'(,fI1\~ due and pay;~l,le forthwith. or thereafter. at the option of said !r.ortg,.gee, a', fully alH~ comp1ett.]y Hsif all of thesaid ;,un,is of !nonc,\' '.vere t)riginnl1y st,ipu!a.t~:-d to be pgict on Bueh day) anyt!ilng 1I1 g~:d ,not(~ ur In thIS n~ortga~t:r.~-J tne r(J_litt~ary notwithsthnding; l:wd thert'up;m or therealt(,!I, f;t the opti(JI1 01 b<,!d mOI:tl-pj.;U:'. Wlt!wut nutir:e ,or clt'rlH\I1?, euil at lr.w or in equity, may be pr03ecuticd a.e i: an m'J1ii.:Ys securea heretJY h,<l(j ,rnhtund pr!(lf to i~<', Hl&tl- tution, The rnor.tgagee may foreclo;';.e thifl mo!'tgagi:, as to the <,;nj(Jull,l so <l<;;c'lan',l due and P";,:"uh\ a!!d the i'aid p'l'rnisf~f, ilhal1 I:w "old TO ;;i'\ti5fv lir.cl p;:w the game (r)g'pt!ier With 1:<'I~t-". (',q'<c'ilSt.:,:.. 1'<;,'1 liliuW"IlCe:s, In ([;ifie of nartial fore(i:)~iul:e of t.his nl(~)rtg?.':e, the n1ortgagt:d prernEH:'~ ghtdl br. ~J\)ld SU!.iJt-:ct to thF cun- tinuing lie,:, of this rncrtgal:(E- for the anHlui',(of the deU not thi:!\ d~e arid unpaid, In :\uch u,,:,e !h~~ PH>- \' i.'liollS (,f thii; pan~gn~ph r;'i&Y a!/,ii.i n \..;-e & q,ik,d ')1 th er,:nfter from t llfie tfJ tl nw by t Le liiuttgagt'e, '}_ "rhat~ the ~ilo..rtg:q~or ,v(:iJi 7i,~:(.~ jrnrnt'~i.tli.t' ;'ioti((~ }))' },liidl \,,) :.t.t: i'(i(i{i~(~~(,--.:-~; t'J.t" H,(I)' \:0{~\"~)~i.4j(..q. tr{t.l1.~d!~r, or r.nHlig(~ of O\\'i"H:r'8j'j!P Of t.l--.It' pr(~flHH-€'H. 12, That II!) waiver of &In' COH~iH\fit h'.:l'i'in (II' of the ob!ij{aUon sHured hl'ti:by :;;rw.ll itt tiny Urn!! tht.:f~~~;.ft,,_lr L~ held to be n \\'c~ll':';_:r tJf t.ht t(rntS ht-'i eo! or ~)f tho';': iltjt(~ ih\CUr,;d hfr-fby~ .~"",-"",--,--..,.....~",-,~~~~..n-e~E-,,.::c.~'1:,~~,;,::~,-"'-~-'(,,'.:::'~!=,,-.-2<.:.....,..~:::..~l,-iS~2c........~\:,..,,~.c;~~~i:;;:,.,<:!:'J:.~~I.'r;;:~-f9~:.,~~;i;0~zi,'~j~~~~~~''f.'!,_~.~:i:r,r;:'~:'ct;-(~"Th-::~Y~'~