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Home My WebLink About0658 Ilnder (b) of p&rAlf1"1Lph 2 procedinat !>hall net be sumd~nt to paJ around renla, l&xes and .IUIoM3amel1ta and ins-Inmce premiuIna, M the CBl3t'! may be, whoen th~ Mme Gha!l become due and payable, !h{'D th(' mortgMgor shall pay to the mortgagee any amount neceu.ary to make up the deficiency, on or before the date when payment of such, ground rents. ta1ea, &.He8&1n.entll., or inau.ta.ncc pr('!lllluma shall be dUe- If at an? time the mortl'llIor ahall tender to the m()rt&~ in .!lCf:ordauce with the pnwiaiOllJi of the note Iecured hereby, full payment of the entire indebtednea repnreented thereby, the mort&agee sh~ll, in com- ptltini the amount of rueD indebtedntu, credi~ to the &e.count of the mortgaaor all PA~-menta made under the pro't'iE\ons of (a) of paragraph 2 hereof which the mo~ haa not become obhgated to pay to the }<'ederal Houling Com.miaaioner and any balance remainin~ in the lunda llccumulated under the provisiaM of (b) of said paragraph 2. If there shall be a default under any of the proviaiona of this mor'tgage, re- sulting in a public sh1e of the premisee covered hereby, or if the mortgagee &a3uirea the property othera wise after default, th~ mortga.gt'e shall apply, sr.t the time of the eomm~ncement ofsuch proceedings or at the time the property is otherwise acquired, the balance th~n re~ning in the funds accumulated under (b) of p.araaraph 2 pn>eedini, a.s 8. credit q'ain&t ~ &mount of principal" then ren,laining ~npald under ~ud note and shall properly adJwst any paymenta WhiCh sh&1l have been maae un~r (a) of said para~aph. 4. That he will pay all taxes, aaaeaamenta. water r-atea, and other governmental or municipal charges, fine3 or impositions, for which proviBion has not been made hereinbefore. ane in default then>()f the mort- gage:e may pay t.he same; and that he will promptly deliver the otlkial receipta therefor to the fr.ottgagt.'e. o. That he will permit, commit, or suffer no w&ilte, impairment. or deterioratiOn of said proper1y or any part thereof; and in the event of the failure of the mortgaror to keep the buildings on saia pft'mlsetl and those to be erected en said premises, or improvements thereon, in good repair, the mortgag"" may make such rep.lirs as in its discretion it may deem necessary for the proper preservation thereof, and the full aIll0unt of each and every such pa).ment shaH be immediately due 1:ind payable, and shall be secured by thp. lien of this mortgage. S, That he will pay all and, sin~ujar the costs" charges, a?d expenses, including reasonable lawyer's fees and ccsts of abstracts of title Incurred or paid at any time by the mort~a.gee because of the failure on the part at the mortgagor prom'ptl~ and fully to perform the agreements a~d covenants of saio prom- issory note and this mortgage, and said costs, charges, and expenses shall be ImmedlatlJly due and pay. able and shall be secured by the lien of this mortgage, 7. That he will keep the improvements now existing or hereafter erected on the mortgaged property, insured aa may be required from time to time by the mortgagee agaiMt 1088 by fire and other hazards, casualties, and contingencies in such amounts and for such Pt)riods as may be required by mortgagee. and wiil pay promptly, when due, at.y premiums on such insurance for payment of which provision has not been made hHeinbcfore, All insurance shall be carried in companies approved by mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto loss payable clauses in favor of r.nd in form acceptable to the mortgagee. In event of loss he wiil 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 dire<:ted to make payment for such loss directly to mortgage.~ instead of to mortgagor lind ~ortg~gee jointly, and th~ insura!1ce,procl>eds, or any part thereof, may be appllcd by mortgagee at Its optIOn either to the reductIOn of the mdebtedness hereby secured or to the rest'Jration or repair of the property damaged, In event of for'_)dosure of this mortgage or other tt3T1$fer of title to the mortgaged property in extingui3hment of the indebtedness secured hereby, ali right, title, and inter-eet of the mortgagor in and to any insurance p{)licies then in force shall pass 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 farthwith appoint a receiver of the premises covered hereby all and singular, including all and singuiar the income, profits, issues, and revenues from whz.tever source derived, each and every of which, it being expressly under- stood, iE hereby mortgllged as if specifically set forth and described in the grantini{ and habendum clauses hereof. and such receiver shall have all the broa d and effedive tuncticTl3 and powers in anywise entrustL,<i 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 to said morlgagc-e, and without refen~nce to the adequacy or inad- equacy of the value of the property mortgaj;r:d or to the s01veney or insohency of said mortgagor or the defendants, and that slIch rents, proflts, income, issues, and revenues shall be applied by such re('ei\'(~r acconiing to the lien of thii> mortgage and the practice of such court, !n the event of any (h>fault on the part of the mortgagor hpreunder, the mortgagor agrees to pay to the mortgagee on dpmand as a reason- able monthly rental for the premises an amount at least equivalent to one"twelfth (112) of tht' aggregate of the twelve monthly installments payable in the then current year plus the actual 8nHiunt of the aI1nJai L.'l.xes, a.',-sessrnent". wilter rates, and insurance premiums for such year not co\'erpc! by the aforesaid monthly payments, 9. The mortgaR'or further covenants that should this mortg~\~~ al,d the note s('('ured hereby not be eligible for insurance under the .sational Housing Act ....,ithin from tll(~ date hereof (written statement of any officer of the Federal Housing Administration or Huthorizf'd agent of the Federal Housing Commissioner oated .subsequent to the time from thr date of this mortgage, declining to inSUie said note and this mortgage, lwing dc-nned conclusiVE proof of !luch in- eligibility), the mortgagee or the holder of the note may, at it.~ option, dt:l:]are all sums 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 lJH)rtgagor, or (b) in the event that any of 8aid sums of money hen'lr, referred to be not promptly and fully paia 'I'ith- out demand or notice, or (c) in the event that eHch :md every the .;;,tipulati'J!ls. agn,cillents, condltio!i!\. and covenants of said note and this mortgage, are hot duly, prornptly, Hmi fuily j}€rfonncc!; then i.n either or any such event, the f'.aid aggregate slIm mentio;iC'd in sai,l /iote then renli,ining ullpaid, with intel'p,3t accrued tn that time, Hnd all moneys secured he!'('~)y, sh,ll] lJeCOme due and pi'l:;ahI0 forth'.\'ith, or ';:,h~t~-'df(('rl at tht~ optiun of s~drl rnortK~:~K'e~~1 as fully (lnd c(JIr!l)l<.,Jtt_'i:.: ~l~~ if un :)f U'!f,' ~::::ild ;.;.urns ,'.d' I"(;CHlf.:Y were ,-,fjy;iEi.]lr i'tipulat~'d to b\? paid on 3\lCn df\Y, Hllythirlg in sai" ilute or ill thiS In')rtg<\ge to the cOiltn;ry !JotwitLstC',r:ding; and thereupon 1)1' ther(,gft~'r, at the ,)fltion of "aid ITF,f'cg;,g('O, wlth,-,ut llotin> or dtrfli~riri, suit at la''''' or in E'qUllY, nuy b{'o pro&eculed ;-:.,;; if all ["!IOfH:Y", i>ecL:fdl hereby hid matured prior t'J itf, ir,sti- tution. The mortgagu, may forecbs,e this TTlor,gage, as to the SrTiClunt 80 dHlan:d due and pf1:>'Bble, and the ~1aid prnni,'if's shall b'i: sold to 8atiafv and pay the "~arne togdh~~r with (ligt.~;, ':::\fWflS;':';;, and ",,!iI)WanCE-B, In e:a.'\€ 0f partial forec!a,;;ure of thig lWJrtgage; the rnurtga.g21 pn'mist;'; ",hall iJ*' ~,<Jld :-"Jbju:! to t.he ,~(,!1- tir,uing !iC~1 uf thiS rnoFtg;,gc(' for ;h€ umcunt of the debt not then riue and unp?icl, ] n such C<3.,:'," the pro- visions of this parag-rapb may again be a....liikd of th<:r\'after fr<;;n time t() time by the !(\l)r1.g;1gee, 11. Trllll. tht' mortg-<1j{0t will give ilnmedi<~te Wli;;!'!! by nwii to the rilCJrtg;,gi,-;~ of any C()L\I'!,a!1(~', t.r~\n~fer, or change of {J\\'npr~.hlp of t.he preinihe&~ 12. 1'hat no v;niver uf an",.. C(,\'fJHtnt here~n or (if t.he obliKH.tio1l t,e.{~iJrl~,d h{7T~.;;hy nh-i-':di at any tiJne tJiz:n:aiu~r be hed to in a W'll'~~l'r !)f Hte LH1M.l il':rcof or of tile note S(:';utHl hUl'I)y,