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HomeMy WebLinkAbout2457i~!~ 28 ~-r~32fi under (b) of paragraph $ R~ shall not be sutDcient to pay d rents, taxes and assessments when the same sha11beoo~nne due and payable then the and insurance premluma, as tl-e case may be, mortgagor a pay to the mortgagee ariY amount necesaai'Y t+o make uP the deficiency, on or fore the date when Payment of such groan yenta, taxes, sasesaments, or insurance premiums shall be due. If at any time the mom r ~ ~-da to the mort,BaQee in accordance with the provisio ~ ll~n co n- ~~ hereby. t of the enure indebtedness represent d-ereby. ~ uli°~~ made under puting the amount such indebtedness, credit to the account of the mortgago Ps)-m the provisions of (a) of paragraph 2 hereof which the mnog h~ not become obligated to pay to the Federal Ho d rag °mn- $1O ~ ~~ ~ be a deianlt~under any of t e provisions of tdl-is thmorptga~e, re- oi (b) of sal ~ sale of tl-e premises covered hereby or it the mortgagee acquires the property other- snlting is ~ P shall apply, at the t~me of the ootnmencement of such proceedings or at wine niter defauk, the mortgagee the time the property is otherwise acquired, the balaaee then remaining in the fl~nds accumulated un er (b) of psra$~ap 2 p as a credit against the amount.of principal then remaining unpaid under said note sad ai~a11 Prof s-dl~ ~Y P~lmenta which s1isU have been made under (a) of said paragraph. 4. That he will pay all t :tea, ~~' water rates' and other governmental or municipal charges. fines, or impoaitioaa, for which provision has not b a~imadethheeroe~c~o~P~lthd~or to theifico~ega~ g~ may pay the came ;and that he will promptly S. That he will permit, commit, or auger no waste, impairment, or deterioration of said property or any part thereof ;and in the event of the failure of the mortgagor to_keep therebuilding a mortg~~ ma and those to be erected on acid premises. or improvements thereon, in good psi . . make such repairs as in its discretion it may deem necessary for the proper Preservation thereof, and the full amount of each and every such payment aliall be immediately due and payable, and shall be secured by the lien of this mortgage. 6. That he will pay all and, singular the costa. charges. and expenses, including reasonable lawyer's because of the failure fees, and costa of abstracts of title incurred or-paid at a ~t~e bum n~ ~ovenanta of said prom- on the part of the mortgagor Promptly and fully to pert shall ~ immediately due an pay- isaory note and this mortgage, and acid costa, charges, and_ a=pensea able and shall be secured by the lien of this mortgage. 7. That he will kegp th~ a improvements now existing or hereafter~e tre; ~~d by ~re and~~er haiards, insured as may be required from time to time by the mortgagee.as may be required by mortgagee. casualties. and contingencies in ouch amo~u i~ odnf gum , hh~u~ce for }-ayment of which provision has and will pay promptly when du any p pa roved by mortgagee and not been made hereinbefore. Al~ insurance shall be carried in and have aattached thereto loss payable the policies and renewals thereof shall be held by mortgagee In event of loss he will give immediate clauses in favor of and in form acceptable to the mortgagee. noticebq snail ~ mortgagee, concern hereby autho ized anddirnected to make payment fob such and each mpurance company rand mort jointly. and the insurance proceeds. or loss directly to mortgagee instead of to mortgago , any thereol, may be applied by mortgagee at its option ei er to the reduction of the indebtedness ~art In event of foreclosure of this hereby secured or to the restoration or repair of th~~proP~Y ~m~: mortgage or other transfer of title to the mo property in exttnguiahment of the indebtedness ~m.~ h ~r,all right, title, and interest of the mortgagor in and to any insurance policies then in force s6a11 p~the purchase2' or grantee. m at any time pending a suit upon thin mortgage. apply to the courtint a 8. That the mortgagee aY. intment of a receiver. and such court shall forthwith appo ing jurisdiction thereof for the appo receiver of the p ~~ from whatever source derived, leach and eve lof whisch,gtlbeing a presaly under- isaues, and revenu stood, is hereby mortgaged sa if specifically set forth and described in the granting and habendum c auaea hereof. and such rtre ~i a rec~llverlmand such appboin m ntdsha 1 bye made by au h Couprt as an adm~ted entrusted by a oou and without reference to the adequacy or inad- equity and s matter of absolute right to said mortgagee, equacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the defendants, and that such rents. Profi~and the pract ~ of such courut. In~thl a vent lof any def alt on the aooording to the lien of this mortgage to the mo on demand sa a reason- part of a mortgagor herennder~ the mortgagor agrees to P~-Y able monthly re® ~ o natallrrir en ~ ~~ a the thllen current year Plus the actual(sinount of the u-enual of the twelve m Y lams for such year not covered by the aforesaid tares sasesomeats, water rates, and insurance prem. monthly Payments. 9. The mortgagor further covenants that should this mortgage and the note from the d to hereof elig-'ble for insurance under the National Houa~ng Act within 3Q C r: (written statement ai any ofBoer of the Federal Housing Adm nistratton or authorized agent of the Federal Housing Commissioner dated subsequent to the ;.0 i=' `~~~ time from the date of this mo declining to insure said note and this mortgage. being deemed conclusive-..proof of such in- ~~;~~), the mortgag~~or the holder oZ the note m~Y. at its option. declare all sums secured hereby immediately due and pay 10. That (a) in the event of any borsch of ~inoreferred ~ ben not prthomp~tly naiad inily paid owith- (b) is the event that an,1r o1 said sums of m- ~h and ~~ ~ atipulati~s. agreemen`.s. conditions, oat deasa-d or noti or (c) in the event ~ not do ,Aran ,and fatly performed; than in and ooveasats of sai~ hots and this mortgage. in ~ then resndning unpaid with either or an7 aach event, the said a~ s~ men ~1 due and pgYable forthwith. interest atxrued to that time, and au moneys secn~ hey or thereafter. at the option of said morkage0. as !rally and oompletelY !s it all of the acid ~ eth ~n X183' were o atipalated tiD be paid °° sash ~-1- aqy~- in acid note or in this mortgate ~' ~ thereupon or thereafter. it the o~ of said mortgs~ee. without notice or demon . as it all moneys secured herby had matured Prior to its insti- wdt at law or in equity, may bs prosecuted ss to the smonnt so declared due ansdn payable, sad Cation. The morrtsagee may torectae this mowne together with oats, exD~• dd aalllloo~wances. the said pcea4ises ~~ !h ~ ~~ premises shall bs acid snwbj d~ee the Pro- In ca^e d partial far the ~ ~ ddbt~~- doe and anpaid. In cli tinning lien of this be availed +At thateuftar fray ~~ tD time by the mortiait'm• vlsioer oi! this parasl'aPh ~ >~n ~ any oonveyaaoer ~1. -That the moles veil! aotiee ~ mail t0 -the mastgat'ee t>raneder, ae ehasatr o1 owt~e:ottiD o~ ~ P~~' ~,~ shall at aaY time 1!. That no waiver 0~ say' eoMeaant hee~eia ~ of the obligatioe- _ theeeattee be held to be s waiver a[ tM tienrr Hereof ee ~ ~ ~ • t. * ',~ ,