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Home My WebLink About0006 . III . -~ .. . . - ............~.... ~ () !l. fe' ~U~f: ) 57 ~~E ~t and inauNl!'1ce premiUllUl, 8J! the case may be, \.lIuch ailb;~.)1#ll"be;'1.r1l4ited by tht: mortgagee on subsequent ~'!lt"!lt! t,) ~ m'!de hy the mortgagor. Ii, however, \,h~ monthly paymentJ made by the mortRagor und~r (b) of par&g)~aph 2 pr~Il$ shall not be 8ufficient to pay ground l'enbl, tA.'u.,a and a.''VsC:JsmenUl and insurance premiuma, aa the c.u-. IDMY be, when thE: same Mall become due and payable, then the mortgagor 3ha.11 pay to the mortgagee any amount n~e8MU'Y to make up the deficiency, on or before the date when payment of such gTounu rents, taxes, &Baeeaments, or insucs.nce premiUIrul shall be dUe. If at any time tho mortgagor aJuJl tend"r to tl'l.a mort~:.gce in ac~or<'a.'1ce '!i'ith th€ !lro\'ision~ of the note s&ured hereby, fun payment of the entir~ iudebtedneBs reprebente.l thereby, tile mortgagee sl',all, in com- puting the amount of such indebtedneM, credit to the account of the mortgagor 1'.11 payments mad~ under the prom ion a cf (a} of paragraph 2 hereof w~ich the mortgagee hM not become obligated to ray to tl,t: Ftxleral Hou.einar: ConuniaaiCiner and my balance remaining in the funds accumulak>d under the provisions of (b) 01 laic p&l.agraph 2, II there shall be a default unde;: C1Y of Ule provision.s of this mortgage, re- sulting in 1_ public sale of the prem~ covered hereby, or if the mortgagee acquires the property other- wise after default, the mo~ee Bhall apply, at the time of the commencement of such pr(){'cedings or at L'1e time th~ property i8 otherWise acquired, the balance then remaining in the funds accumulated under (b) of J)AJ4I'apn 2 precOOin,. a8 a credit against the amount of principal then remaining unpaid under said note and 8hal1 properly adjuAt any paymenta which shall hava been made UlHi~i (a) of sairl paragraph. 4 That he will pay all taxea, aase.umenta, water r~te8, and other governmental or municipal charges. fines, or ~mpoaitiona, for which provision ha, not been made hereinbefore, and in defnult thereof the mort- gagee may pay the same; and that he will promptly deliver t.l}e official receipta therefor to the Ir.ortgagee. o. That he will permit, commit, or Buffer no waate, impairment, or deterioration of Mid property or any part thereof; an" in the event of the failuNl of the mortgagor to keep the buildings on saici premises and those to be erected on Mid premiaes, or improvements thereon, in good repair, the mortgagee may make 8uch repairs a8 in its discretion it may deem llecesaaI"'/ for the proper preservation thereof, and the fun amvuut {,f ~h e.!.ld e"~ry ~nl'h !'.llyment shall be immediately due and payable, anrl shall be secured by the lien of this mortgagE'... 6. That he will pay ~ll and singular the ~ta, ch8l'ges, and expenses, including reasonable lawyer's fee8, and costa of abstracts of title, incurred or paid at any time by the mortgagee becau!le of the failure on thf! Dfl,rt of the mortgagor promptly and fully to ~r!orm the agreements and covenants of said prom- ia.'Jory note and this mortgage, and said costs, chargee, 8J)d expemes shall be immediately due and pay- able and ~.AlI be secured by the lien of this mortg~ge. 7. That he will keep the improvements now existing m: hereafter erected on the mortgaged property, insured iiii may be r~'quired f:rom time t{; tim~ by the mcrt~agee agai!l.!!t lo-~!! by fire and other hazards, caaliaiti~t illa ~(i:ntiiiKCncia; in guch ~~nunt!! and for !u~h period!!. ~~ m!iV ~ reouired bv mortil~.zeea and '7m p.s.y promptly: when due, any pr~iuJ1~~ on such insurance for pay"ment ot' which provitiiO'!1 1.as not been made hereinbefo:.-e. All inaurance shall b€ carried in companies app:o\'ed by mortgagt::€ and the polici03 and renewals thereof shall be held by mortgagee and have attached ther.;o Lss payable ClaU8e8 in favor of and in form acceptsble to the mortgagee, in event of 1088 he will give immediate notice by mail to mortgagee, and mortgagee may make vcuvi of iUM ii nut made prolnpi.iy ~> mortgagor, and each irulUrance comp-any con~rned is hereby authorized and directed to make payment for such loga directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any part t.hereof, may be applied by mortgagee at its option either to the reduction of the indebtedness horeDY secure<i or to Un: i~t:jjtolatiun Oi" i'~pair of th~ pro~rt~' d~.rne.ged. !n eve!!! of fo!"~rl(\BI"l"f' of thiR mortgage or other traneier of title to the mortg~ged property in extinguishment of the indebtediie8s aecured hereby, all right, title, and interest of the mortgagor in and to any insurance policies thell in force wall paa8 to the pu.rcha8er or STantee, 8. That the mortg-agee may, at any tiI',i PEnding a rmit upon thi!3 mortgage, apply to the court hav- !!!g j!!!'~'.:Hctil)!! thprp.~f 1'01' thf! llppoiiltr~;dlt of i\ r~eiver. and such court shall forthwith appoint a i'&C€i-"-61 of tho pr€mi~ ccv~T~il !;e~by "'!! '1!l1 sing!.!!!!.!', ~I!ch.!rling BH ~!!1d singular th~ inC'orne, profits, iasue8, and revenues from whatever Bource d~r.iv~, 6iiC}i and cV€i":'. vf ~"h;ch. it b~i:1g cxpr~~e!y under- stood, is hereby mortgaged 88 if specifically ~~t forth a."ld described in the granting and habendum clauses hereof nnd such receiver f!hall have all the broad and effective functions and powers in anywise entrusted by a court to a r~eiver, and such appointment shall be made by such court as an admitted equity and a matter of ab&.>lute right to said mortgagee, and without reiererlce to the adequacy or inau- equa<.'Y of the value of the property mortgaged or to the 601vency or insolvency of said mortgagor 0r the defendants, and that such rents, profits, income, issues, and revenues shall be applied by 8uch receiver according to the lien of th;'J 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 !'eason- able monthly rental for the premises an amount et least equiv~!cnt to one-twelftn (1;'17) of the a~gregate of the twe!ve monthly installment.s payable in the then current year plus the actual amOtlr.t of the Rnnll:\t taxee, &!l8e8Sments, water rates, and irumrance premiumll for !m~h y<:!ar not coverPd hy the aforesaid mont.tliy payments. 9. The mort{;<lgor further covenants that should this mortgage anci- the noie secuf~ct hereby not be eligible for insurance under the National Housing Act within 30 tlays from the date hereof (written statement of any officer of the Federal Housing Administration or authorized agent of the Federal Housing Ccmmissioner dated subsequent to the aforesaid time from the date of this mortga~e, declining to insure said note and this mortgage, being deemed conclusive proof of such in- eligibility), the mortgagee or the holder of the note may, at il'\ option, declare all !jums secured hereby immediately due and payabie. 10. That (0) in the event of any brp.aC'h of this mortgage or default on the part of the mortgagor. or (ll) in the event mat any of :said sums of money herein referred to be not promptly and fully paid with- out demand or notice, or (c) jn the event tilat each and ~vcry the atipuJations, agreements, conditior.s, and coven8nts of Mid note and this mortgage, are not duly, promptly, and fully perfJrmed; then in either or any such event, the ~.l1id aggregate sum mentioned in said note then remaining unpaid, with interest accrued to that time, and all moneys secured hereby, shaH become due and payable forthwith, or thp.reafter, at the ~lptiOI1 of said mortgagee, as fully and completely 88 if all of the said sums of monev W2re orginally fitipulate<! to be paid on such day, anything in said note or in this mortgage to the contrar}' notwithstanding; and thereupon or thereafter, at the opti0n of said mortgagee, without notice or demand, 8uit at law or in equity, may be prosecuted as if all moneys secur<:!<l hereby had matured prior to its insti- tution, The mortgsg-c-€ may foreel08e this mortgage, aa to t..'1.e amount 80 dedared due and payahle, and the said premis~ shall be sol(1 t.l satisfy and pay the same together with costs, ex?enses, and p..I1owances, In Ch8€ of par..ial foredo3ule of thi& mor...gage, the mortgaged premi!es ahall be sold 8'Jbjed to th? con- tinuing liel! of this mortr.age for the alnount of the debt not then due and unpaid. In such ca:lt' the pro- visions of this parugraph may again be availed of thercl'lter from time to time by the mortgagee, 11. That the mortgagor will give immediate notice by mail to the mortJ'agee oi anv conveyance transfer, or cPJl.nge of ownl:;:r8hip of the premises. ' . . , 12, Thnt no waiver of &'lY cov~nant herein or of thp. obligation SecUled heTl~by shall at any tin..e thereafter be held io be a wwver ef th~ temIG hel t:of or of tnr note l!ce'.lred hereby, - I I I I~ II . . '. . .---..---, -' f ,,--