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Home My WebLink About0615 0, R: 18 C'10 t3C;~ '"' PAGEU Uf,,!er (b) of paragrllph 2 pn'Ceding shall nbI Ji~~J1~lJ \J~t \-rollnd rents. ta>..es and asses.'\llwnts and illi!uranec pr,:,miums, as the case may lx', when the SJI...!1le shall become du~ and payable, thell tht' mortgagor sha!1 pay to the mortgagee any amount llt'("esaary to make up the deficiency, 011 or befori:: the d~te when pa~'mf.'nt of such ground rents, taxes, asses.mcnt.<!, or insurance premiums, ilhall be due. If at any time tht' rnortgagor !>hall tender to tilt' mortgagt'~ Hl &ceordaace with the provHHons of the note St'Cvr~'(l hereby. full pa~'uHmt of the entire indebtedness represen~d thereby, the mortgagee shall, in com- pding the amount of such indebtednesa, credit ~o t~e account of t.he mortgagor all pa~'ment~made under the provisions <>f ~a) of paragraph 2 hl:'I~,<)f whIch the ;nort~ag~ ha~" not become obligated to pay to the Federal Housing CommiS8ioner and any balance remaining in the funds accumulated under the ;,Jrovi:!ion8 of (b) of Mid paragraph 2. If there shall be e. defauit under any of the provisions of this n.ortgage, re- !ulting in a public sale of the premises covered here-b)' ~ or if the m:wtgagee Mcquire:> the proeerty other- wise after default, the mortgagee shall apply, at the tIme of the eommencenll'nt of such pr(}('t'ed\ll~s or at the time the property is otherwise acquired. the baiance then remaining in the funds accumulated under 'b) of paragraph 2 pre<,'eding.a,s a crerlit against the amount of principal then. remaining unpaid lalder said note and shall properly ad} u~t any payments which shall ha ve been made unoer (a) of sa IG paragraph. 4. l'hat he will pay all taxes, ll.SSeS8m~nts, water rsu.s, and other governmenu.1 or municipal charges. fines, or impositions, for which provision h~ not been made hereinbefore, and in default thert.of the mort- gagee may pay the same; and that he will promptly deliver the official rl.'Ceipt.s therefor to the n~(frtgagce, 5. That he will permit, commit, or suffer no waste, impairment, or deterioration vf said property or any part thereof; and in the e\'ent of the failure of the mortgagor to ke€p the buildings on said premises and those to be erected on said premises, or improvements 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 p.ach and every 8uch payment shliH be immediatt'ly due and payable. and shall be secured by the lien of this mortgage. ' or 6. That he will pay all and singular the co..~ts, charges, and expenses, including reasonable lawyer's fees, and costs of abstracts of title. incurred or paid at any time by the mortgagee because !Ji the failure on the part of the mortgagor promptly and fully to perform the c.greements and covenants of said prom- issory note and this mortgage, and said costs, charges, and expenses shall be immediately due and pay- able and shall be 8~ured by the lien of this mortgage, 7. That he wi!! keep the improvements now existing or hereafter erected on the mortgage<} property, insured 88 may be raluired from time to time by the mortgagee 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 prGmptly. when due, any premiums on such insurance for payment cf which provision has not been made hereinbefore. All insurance shall be carried in companies approved by mortgagee and the policies and renewals thereof shall be held b)' 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 ir.w1l'diate notice by mail to mortgagee, and mortgagee may make proof of los8 if not made promptly by mortgagor, and each. insurance company concerned i3 hereby authorized and directed to make payment for such 1088 directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by mortgagF.e 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 mortgaged property in extinguishml~nt of the indebtedness secured here-by, all right, title, and interest of the mortgagor in and to any insurance policies then in force shall pa88 to the purchaser or grantee. 8. That the mortgagee may, at any time pending a suit 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 premises covered hereby all and singular, including all and singular the income, profits, issues, and revenue.s from whatever source derived, each and every of which, it being expre3sly under- stood, is hereby mortgaged as if specifically set fodh and described in the granting and habendum clauses ht'r~f, and 8uch receiver sh,all have all the broa d and ,effective func~ions and pOW€rS in anj'wise entrusted by a court to a receIver, and such apP0lntment gna.lI be made oy such court as an admitted equity and a matter of absolute right to said mortgagee, and without reference to the adequacy or inad- ~UIICY of the value of the property mortgp.ged or to the 8olven(~y or insolwncy of said mortgagor or the defendants, and that such rents, profits, income, i8eues, and revenues shall be applied by such receiver according to the lien of this mortgage and the practice of su(:h court. In the event of any default on the part of t.he mortgagor hereunder, the mortgagor agrees to pay to the mortgclgee on demand as a reason- R.ble mor.thly rental fer the premists an amount at least equivalent to one-t w:>.lfth (Ii,,) of the aggregate of the twelve monthly installments payable in the then current year plus the actual anlo\l!lt of the annual ta..Xe8h assessments, water rates, and insurance premiums for such year not cover~d by the aforesaid mont Iy payments, 9. The mortgagor further covenants that should thi& mo rtgage and the note secured heretn' not be eligible for insurance under the National Housing Act within :' , :_ , from the dat.e hereof (written statement of any officer of the Ft'(\eral Housing Administration or authorized agent of the FeJeral Hou8in~ Comloissioner dated subBeCjuent to the: , time from the date of this mo~g:~~e. declining to inWI'e ..!lid nO,te and this m(lI'tgage, he,ing d~emerl cOl1ciusive proof of such in- el1g1bHlty), the mortgage€ or the hOlder of the note may, at Its optIOn, declare all sums secured hereby im.mediately due and payable. 10, That (<1) in the €vent of ar:y breA<:h of this mortgage or ddault on the Dart of the mortgagor or (ll) in the ever.t U:~.t any of sa!d 8~rn8 of money herein referrc-d to bf.: not promptly and fully paid \~-ith.. out demand or nou,-e, or (r) In ~n,e ~vent that each lind {'very the stipulatIOns, agn?ements, condItIOns. li.Jl~ CQven&ntJ.l of Bl!<Id note, and thiS mortgage are not duly, iif'omptly, and full:.: perf0rml..'d; then in (~ir.f;(~Y' \.if" i~,rl.;'~ fi:",:.th f,:"'~~~n::,1 t,ri€ ~~{:fi(~ t:{ggt'{o-:gateL:t.u.r:n Tr!i?~.iti.nYH.;.d in :';,~jljd f;nt(-~ tht:n :ren;(~ln1rl~f unJ,Juid \\'iih int{':rest &i.'cnwd to ;,hat Lrne, litid an rmmeys M'cu:red hereby, "h;31l twcorne d\H: ;:,t,d pay"Lie fonllwlth, or t.hH.?&fter, at UH! optwn of sAld rnortgag~. a.l ful1\ and cDmnlctdv as if ail of tho :,aJd !;\llfiF, of rnnnf"V ,'rere y~igin., l!y atipulatt:d to 1.><: p.tid Oll ~uch day, Rny U; I r,g in i'i8.ld Hot,: .)1' in 11-1 is jHortgag't-,' t,;' U.-e CU;l t~ a;-;' nCl\:;wlt!l13t..amhng; a~d ther-eupoJ'l (ir Ulereafter, ~t theoptlOl1 of "aid mortgagee, ivithout notIce or demand, $yr~ gt., l&~-Il or 111 ~.p"nty, nlB.Y ~~__pro~.f"(:uted M if an rn(jrH~Y3 ~;f~:ured h.i:ort:-by had cntltured prior to It:~ irL~t.i.. tutlOD. T<l~ mortgugec may f\j(t~do..~ thjs mortgage, as to till! itnlOLH;t so detiared due and pS"?.ble, and the t?,;!,id prem;~il.~ flnall be $old to lc\atisfy il,nG pay the se,nw to~ether with COi>\t5, eXpUI3C1:l" and ,,1],.;wtHlces. 1~1 c~~e n,! part!!tl. roreclo....l1l"€ of ti-.ig m(jrtiai~, the rrwrtga~rl pl'€o'.iset shall ly: aod !\ubj (-'('t to the ,:011, t1,:nUl\lg hen ~d ttUll mo:rt.g~~(~ hI;' the ~m0:..mt oi th" d~bt ',ot then dut: li.nd u:'",paid. 1/1 !'\Uch Cl1lW tni; pro, VL$lOni'l of thHl pan.\gT&ph may l<.g't,in lYe l\vll.llw of ther''<aft.,r from tirnr' to tHne by the mong8gee. 1). ,TI1S\t thE~ rnortgaitfJr w'iii k-rve h-Y~l;:ledi'ate nGtitf? by ,lliliil ll) the rtn)';tg!ig€~: 0f '-ifl)! C(Hl\'f2Yii'(l(:c, tr1!iH1>H'l, 0;' chlm~; of ow.nersh,p of ~,h~! prc.milY:!L /;.. , 12, That no wll.iv~r of anv ':;I)VI>.n~;r,~ h.e,,-ir: "i~ "f +h.., p~,li$rat;"'n 11''''f'n~"A h">e,b" ~,hzdJ at iC,n.,Y time U,'8tMH.:< ~ h~,ld to be J~ wa;~e.r -0ith~ u;rm~ r:e;~!;of-{)~ ;)1' t~h'~ ilot;;"'t.f..'C',:~,~i 't;€;\:i;y>.1 .-.lL~'~ ,.-~. ~. ~... ~~f~~~~~~~", ~~'!:;'~~ ;i1~~!~ :?'f:;:.;;~~~f~?1:"f:.~:;~~~~~ .~~,"" ~.