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Home My WebLink About2404 ib~k' 20 "4<<297 ~ anderd <t) of ~ph 2 ~~_tbe~i to'~ JI'OWld nota, tax. and ~ta an iDlQr~rremiuma, as the c-.e ma)' De, ~liat \h~ 'lime thall beeonw due aDd ~abk' then the ~r pay to the mOJ'tpr.ee any WDOunt 1l-'''''1 to make up the dl'lkiomc:y, on or before tht when payment of aucb aroui:w{ rent&, t.u:ea, .'..menta, or tnauranc:e pnmiuma ahall be due. If at any tbne the mortpaar ahall tesMkr to the Jl:1Ol"tppe in KeOrdance with the pruviaioUl of the 1;Q~ eecund hereby, tl!ll pqmc:at of tLe ehUre indebtednele repNlNl1ted thereby, tM morteaaee ahall, in com. put;ba the amouRt of B1ICh indebtedn..... credit to the 8C(O".mt of the mortpaor a1ll!41Jl1en~.madlil un_ the provWona of (a) of pu~ t IMreof whieh the mortaalree bAa N>t beeom, obUgated to pay to tM Federal HouaiDg Commliaion8r and ~ balance remaha.ina ill the ftmda accumulated unde.T the ilroviaioQl of (b) of aaW ~pb I. If there aIiaJl be a default under aD,)' of the proviaiou of thJa mortpee. re- aultiDa ill a public sale of the prerniMI covered hereby or if the mortpaee acquirell the property oth..... wiN after default, the ~ 6h.n APW, at tbetb;eolthecommencementofsuchproeeedinpor&t the time the property it ot.henVise acq~ the balance then JW'ftAiftin, in the funds aecwnulated under (b) ot parqraph 2 pre-~i:fJU a eredit apinai the aIDOUDt of prinCIpal then remaiDi1i'tr unpaid under .aid note ad Iball properly UIt aD,)' PA.VJI:'8Ilta which abaU have been made under (4) of I&id parqraph. .. That ~ ~ P&7 aD taxes, ~ta, w&tal' ~ aucI other l'OVemmental or municipal charpa, ftDn, or impolltiOna. far which proviaiol\ hu not been made hen!iabefore, and in default thereot the mort- ..... ma,y pay the same; and that he will promptIJ deliver the o8Idal neeipta therefor to the mortgqee. 6. That he will J)'I.rmit, commit, or au<<er no ~ impairment, or deterioration of laid property or any pari thereof; and in the event of the failure ot tM mortaa.or to keep the buildinp on said premises and thOle to be erected on aaid p~i-.. or improvements thereon, in aood repair, the mon.agee may make .ueb repaira AI in ita dilcretion it may deem necetaary for the proper prelerVation thereof, and the full amount of each and eYflr.Y .uch payment ahall be immediately due and payable, and ahalI be secured by the lien. of thia mortpp.. 6. That he will pay all and aingular the cceta, charpl, and ~ inclUdi:t:.uonable lawyer'. fees, and coeta of abstracta of title, incurred or paid at any time by the mortpgee UN of the failure on the part of the mortp.aor promptly and full, to perform the qr&ementa And COYenanta of said prom- iJa!)ry note and thia mortp..... and laid COlts, CllaIp8, and GpeDIe8 :ahaU be immediately due and pay_ able and aball be eecured by the lien of thia mortpp. 7. That he will keep the improvement" now exI.tiq ClI' hereafter erected on the mortpaec: ~ 'Nperty, . inaured AI may be required from time to time by the lUOrtnatoe &pinat 1011 by fire and other hazarda, caaualties, and contingencies in luch amounta and for luen Perloda AI may be required by mortpgee, and will ,:,~rom~, when due, ~ premiuma on IUch ~uranee for payment of which provision baa not been e herelDbefcre. AU Inlur&l1ce ahall be e&rrled In companies approved by mortgaaee and the polici~ and renewala thereof ahaU be held by mortppe and have attached thereto Iou payable clauaee in favor of and in form acceptable to the mortppe. In event of ION he will give immedillte noti~ mail to mortppe, and mortgagee may make proof of Iou if not made promptly by mortgagor, and inaurance company concerned is hereby authorized and directed to make payment for luch Iou directly to mortppe instead of to mortgagor and mortppe jointly. .nd the inlurance proceeds, or aD,)' part thereof, may be applied by mortgagee at ita option either to the reduction of the indebtednesa hereby secured or to the reatontion or repair of the property da.n1qed, In event of fol'1!Closure of this mo~ or other transfer of title to the morliraged property in extinguishment of the indebtedness IeCUiedhereby, all riPt, title, and intereat ot the morta'alor in and to aD,)' insurance policies then in force ahall pau to the purchaier or JI'IUltee. 8. That the mortgape may, at any time pendin.. a Guit upon thia mortgqe. apply to the court hav- i~ juriadiction thereof for the appointment of a receiver, and .uch court &hall forthwith appoint a receiver of the premiaea covered hereby all and aingular, including all and lingular the income, profits, iaaUel, and revenuel from whatever aou.rce derived, each snd every of which, it being expreuly under- stood, fa hereby mortpged AI if apeclftcally set forth and deecribed in the granting and habe~dum clauaea hereof, and such reeeiver ahtll have aU the broAd aDd effective functionl and powers in an~iae' entruated by a eourt to . receiver, and such appointment ahall be made by such court as an admitted equity and a matter of abaolute ~t to said mortgagee, 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 thfl defendant., and that IUch rents, profits, income, iaaues, and revenues ahall be applied by luch receiver according to the lien of this mortpa'e and the practice of such court. In the event of any default on the part of the mortgagor hereunder, the mortpgor a~ to pay to the mortauee on demand as a reason- able monthly rental for the premiaee an amount at hut equivalent to one-twelfth (%1) of the &Jilepte of the twelve monthl7 inatallm~nta payable in the then current year plus the actual amount of the annual tax~l,~"""",enta, water ratee, and inaurance premi\ll'Da for .och year not covered by the afol'el&id monuuy payments. ' 9, The mortpaor. further covenanta that should thia mo rta&@ anc;t the note secured hereby not be eliaible for inaurance under the National Houaiq Act within 3'0 lJAY::i from the date hereof (written atatement of any officer of the Federal Housill& Adminiatra\.ion or authorized agent of the Fed~ Houaina Commiuioner dated lubsequent to the ;;0 DAYS time from the date of thia mortpp, dec1iniD&' to inaure laid note and thia mortpp, beiD&' deemed conclusive proof ot IUch in- e1~6UftY), the mortgaaee or the holder of the note may, at ita option, declare all'UD1IleCured hereby immediately due and payable. , 10, That (4) in the event of .-n1 breach of thia mortgage or default.on the part of the mortgqor, or (b) in the event that any of said 10Jna of money herein relerred to be not promptly and fully paid with- out demand or notice, or (c) in the event that each and ever, the stipulationa, agreements, conditiona, and covenanta ot eaid note and thia mortpp, are not duly, promptly, and fully perfonned; then in either or any web event., the said aarregate aum mentioned in uid note then remaining unpaid wIth interest accrued to that time, and aU moneYI secured hereby, .ha}] become due and payable forthWith, or thereafter, at the option of said mort~ AI fu Uy and comJ>lete1y ..-if all ot the said sums of money were oriJinal1y stipulated to be paid on such day, an,.thin~ in saia note or in thil mortpge to the.eontrary notwithatanding; and thereupon or thereafter, at the option of said mortgagee, without notice or demand, wit at law or in equity, may be Pl'08eeuted as if all moneya secured hereby had matured prior to ita inati- tution, The m'QrtPa'ee may forecloee thit,1DO~" to the amount 10 declared due and payable, and the laid premiaee .hall be aold to aatisfy and pay tile same topther with COiIIta. expenaes, ~c2 ,'1l10wanc:-. In cue of partial torecloeure of thia mortgap, the mortgaged premiae:a shall be sold lubJect to the COD- tinuina' lien of t.tUa mortpp for the amount of the debt not then due and unpaid. In .ueh cue the pro- viaione of thia paracrapb II1A1 apin be av~ of thereafter from time to time by the mortppe. 11. That the moriPfrOr willdve' immediate notice by mail to the mortppe of any conveyance, tnufer, or ehange of oWDerahip of the plW'l'l.-., 12. That no waiver of any ~enant limb;' or dl:tmi. otJtig&tion IeC1Ired he?eb,. IhaIl at &n7 time thereafter be held to be a waiver of the terma hereof or of the Dote MCUred herebr. - ,- -< .... -.----.---,.- ~~ _....... r- __~7~W"'~~~~""