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Home My WebLink About0622 L - ---" - -- ---'-." , 1 - ,,,- 0'--" M' L 57';;aIif' .) -' -- . -' ST.lUCICCou~n,nA_:_ anti iNuranee premiuma. u the caw may be. luch9CIM wilDe ~ted by the mo~.,gt~ on subsequent paymeD3 to be made by the mortpcor. 1f, hOweNr, the monthly paymenta mad~ by the mortg~r ander (b) of ~ 2 preeedl~ ahAIl not be lUt!clent to ~ rround reut&, wea and aueasmenta and hUJur~remivma, at the cue mq be. when the ..... ab.all become due and payable, then the mortgagor pay to the D.1~ any amount neceu.ar:v to> mAke up the defkiency, on or beforfl th'3 date whep. payment of auch pogUu neta, wea, uatl,me'lta, or w.auranee p~iuma shall be clue. If at any tiule the mo~ lUll tender to the mortaqee in accordanee with tlre provisiona of the note leCured hereby, full PAYJIlent 01 tile enUre ind.fl~.edneu repreaented thereby, the mo~aaee shall, in com- puting tho amount of iloch indebtMnea, credit to the account of the mortc'AI'Ot all PAfDlenta made under the provbion. of (a) at paragraph 2 h.reot whkh the moytpaee hu not become obhgated to pay to the Federal Houam. Com{Qiaaioner and any balance remaininJ ili the funds ltccumulated under the provision8 of (b) of aaid parqnph 2. U there ahall be a default under any of the proviaioWl of thi8 mortgage, reo sultina in a public aa1e of the pnmiaee rovered hercbYt or if the mortgagee acquires the propecty other- wUJe after default, the mo~ ahaJl apply, at the tune of the oommencement C1f such proceedings or at the time the property is otherwlH acquired, the balance then remainin, in the funda accumulated under (b) ot parqraph 2 precedini.&t a credit apinat the amount of prinCIpal then remaining unpaid under said note and ahal1 properly adjuat any PA)'Dl8Ilta which shall have been made under (4) of 8aid paragraph. 4. That h.e will pay all taxes, Uleaments, water rates, and other I'Overnmental or municipal charges, ftn~.. pr iP1poalUona, for which provisi~n has not been ~ade herein~ore, ~d in def&ult thereof th~ ~ort- g&i'ee maY 'pay thtl same; and that he will promptly delIver the oftlc181 rECeIpta therefor t~ the rr.ortgagee. . 5. That he will permit, commit, or suffer no wade, impairment, or deterioration of said property or any part thereof; and in the event of the failure of the mort&,&&,or to keep the buildings on said premises and those to be erected on lAid premiMa,or improvementa thereon, in good repair, the mortgagee may ms.ke such repairs as in iti ~OIlit mar deem neceuary for the proper preservation thereof, and the full amount Qf each and every 'aueh payment ahall be immediately due and payable, and shall be secured , by the lien of thia mo~ i ~ " 6. That he will pay all and aingulu the COBt&, charaea, and experuu~s, including reas(lnable lawyer's feee, and costa of abatraeta of title, incurred or paid at any time by the mortsagee because of the failure on the part of the mortgaaor promptly and fully to perform the agreem~nta antl covenants of 8aid prom- wory note and th.ia mortrare, and aaJd~, eharcee, and e.xpenaea shall be immediately due and pay- able and shall be !SeCured by the lien of this mortpce. 7. That he will keep the improvemente now existing or hereafter f'.rected on the mortgaged property, inaured aa may be reqUIred rrom time to time by the mortgagee againat 1088 by fire and other hazards, caaualties, and contingencies in such amounto and for sucn perioda &8 may be required by mortgagee, and will pay promptly, when due, any premiuma on such inaurance for payment of which provision has not been made hereinbefore. All inaurance thall be carried in compames approved by mortgagee and the policies and renewals thereof shall be held bj'- mortg&&,ee and have attached thereto 1088 payable clauses in favor of and in form acceptable to the mortgagee. In event of lo~ he will give immediate notice by mail to mortgag~, and mortg~ may make proof of Iou if not made rromptly by mortgagor, and each insurance company concerned 18 hereby authorized and directed to make payment for 8uch loes directly to mortgagee instead of to mortgagor t,nd mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by mortgaaee at ita option either to the reeuction of the indebtedness hereby 88CUred or to the restoration or repair -:1 the property damaged. In event of foreclosure of this mortgage or other tran.efer of title to the mo~ed property in extingui8hment of the indebtedness aecured hereby, all ~r~tle, and intereet of the mort8'&l'Or in lmd to any insurance policie8 then in force ahall paaa to the pu 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 8hall forthwith appoint a receiver of the premiaea covered hereby all and aillJular. including all and singular the income, profits, wues, and revenues from ':7hatever source derived, each and every of which, it being expressly under- stood, is hereby rnortpged as if epeeiftea11y set forth and described in the granting I\nQ habendum clauses htlreof. 31'ld ~uch receiver shall have all the broad and effective functions and powers in anywise entrusted by a court to a receiver, and such appointment shall be made by 8uch court a.s an admitted equity and a matter of absolute right to said mortgagee, and withollt reference to the adequacy or ir. 'd- equaey of the value of the property mortgaged or to the solvency or itliJolvency of said mortgagor or tlte defendanu, and that such renta, profita, income, wues, and revenues shall be applied by such receiver according to the lien of thia mortgage and the practice of such court. In the event of any default on the part of the mortgagor hereund~r, the mortgagor agrees to pay to the morlgagee on demand as a reason- able monthly rental for the premiaes an amount at least equivalent to outt-twelfth (%2) of the aggregate of the twelve monthly installmenta payable in the then current year plus the actual amount of the annual wea, .usesamenta, water rates, and insurance premiuma for such year not covered by the aforesaid montruy paymenta. 9. The mortgagor further covenants that should this mortgage and the note secured hereby not be ~ligible for insurance under the National Housing Act within .180 days from the dat~ hereof (written statement of any ufficer of the Federal Housing Administration or authorized agent of the Federal Housing Comm:ssioner dated subsequent to the above mentione<lime from the date of this mortgage, 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 ita option, declare 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 mortgagor, or (b) in the event that any of said sums of money herein referred to be not. promptly and fully paid with- out demand or notice, (,: (c) in the event that each and every the lltipulations, agreementg, c0nditions, and covenants of said note and this m~rtgage, are not duly, promptly, and fully performed; then in either or any such event, the '\aid aggregate sum mentioned in said note then remaining unpaid, with interest accrued to that time, and l\1l mone)'s secured hereby, shall become due and payable forthwith. or thereafter, at the option of said mortgagee, as fully and completely as if all of the said sums of monev were orginally stipulated to be paid on such day, anything in aaid note Oi' in this mortgage to the contnry notwithstanding; and thereupon or thereafter, at the option of said mortgagee, without notice or demand, suit at law or in equity, may be prosecuted 88 if all moneys secured he~eby had matured prior to its insti- tution. The mortgagee may forecl08e this mor-tgag9, aa to the amount so declared due and payable, and the said premises shall be so!d to satisfy and pay the same together with costs, expenses, and allowances. In cage of partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con- tinuing lien of this mortgage for the amount of the debt not then due and unpaid. In such case the pro- visions of this pal'agraph may again be availed of thereafter from time to time by the mortgagee. 11. That th~ mortgagor wil! give iIlunediate notice by mail to tile mortgagee of ..ny conveyance transfer, or change of ownership of the pre~Je8. r., ;., . 12. Tha.t no waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held to be a waiver of the terms h~reof or of~t;~ note 8e<:lIred here,by. _>oro<u '~\l:;-~~.r_<-~.:~~r_",:;-...._: ;-"~_;$"- "._.... "'_><;'.--:~_ '*""-:.-~......_ ~.. '"":. <,.> d'~~--"""'-".._- -,