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Home My WebLink About0756 r, Po, ~d he) u~l f .'~( r(J d, ", , . and insurance premiums, as the.case may, be5su~tI ex~ s'ulU!be~or~i\cd by the mortgagee on SubsN}l1f1nt -payments to be made by the mortgagor. If, nowev~l'; the "TIl'Ullthly payments made by thE mort~agor unJe~ (b) of par~aph 2 preceding shall not be sufficient to ~y ground renta, taxes and asseS3ments and 1Il8UranCe frenuum~, as the case may be; when the sanle shan become due and payable, then the mortg~lgor ahal pay to the mortgagee an~i amount necessary to make up the deficiency, on or before the date when payment of such ground renta, taxes, asse68menta, or insurance prtmiums shall be due, If at any time the mortgagor shall tender to the mort~agee in accordance with the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the mortgagee shall, in com- puting the amount of such indebtedneu, credit to th{\ account of the mortgagor all payments made under the provisions of (a.) of paragraph 2 hereof which the mortgagee has not become obligated to pay to the Fedelul Housing Commissioner and any balanr::e remaining in the funds accumu13ted under the pro\'isions of (b) of said para&raph-2, If there shall be a default und~r any of the provisions of this mortgage, re- sulting in a public sale of the pr.mlises covered hereby, or i.f the mortgagee acquires the propprty other- wise after default, the mortgagee shan apply, at the time ol the commencement of such procl'edings or at the time the property is otherwise acquired, the balance then remaining in the funds accumul:,ted under (b) of paragraph 2 preceding,as a credit against ~e amount of principal then remaining ~npaid undl'l' said note and shall properly adjust any payments WhICh shall ha\'e been made under (a) of saI<l paragraph, 4. That he will pay all taxes, &88eb8IIlenta, water rates, and other governmental or municipal chaq{t's, fines, or impositioIlH, for which provision has not been made hereinbefore, and in dctault thereof tl\l' mort- gagee may pay the same; and that he will promptly deliver the official receipts therefor to the n:ortgagee, 5, That he will permit, commit, or suffer no waste, impairment, or deterioration of said propert \' or any part thereof; and in the event of the failuN of the mortgsgor to keep the buildings on sai(j pn'n;iSl'li and those to be erected on said premises, or improvements thereon, in good repair, the morlgagl'l' may 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 8hall be immediately due and payable, and shali ue secured by the lien of thi8 mortgage.. ' 6. That he will pay all and singular the costs, charges, and expenses, including reasonable lawyer's fees, and costa of abstracts of title, incurred or paid at any time by the mortgagee because of the failure on the Ilm of the mortgagor promptly and fully to perform the agreements and covenants of said prom- issory note and this mortgage, and said costs, charges, and expenses shall be immediately due and pay- able and shall be secured by the lien of thi8 mortgage. 7. That he will keep the improvemen~ now existing or hereafter erected on the mortgaged property. insured as may be required from time to time by the mortgagee against loss by tire and othl'r hazards, casualties, and contingencies in such amouI?-ts and for such periods as may be required by mor1j{aj{('l', and will pay promptly, when due, any premlUm8 on such insurance for payment of which provision has not been made hereinbefore, All insurance 8hall b~ carried in companies approved uy mortg-agl'e an(1 the policies and renewals thereof sh'}.l1 be held by mortgagee and have attached therdo loss payable clauses in favor of and iE form acceptahle to the mortgagee, In event of loss he will give imnH'diate notice by mail to mortgagee, 8,.10 mortg~gee may make proof of loss if not made promptly b) mortKag0T, and each insurance company concerned is hereby authorized and directed to make payment for such los8 directly to mortgagee ins.ead of to mortgagor and mortgagee jointly, and the insurancc procl'('ds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the inddJtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclosure oi this mortgage or other transfer of title to the mortgaged property in extinguishment of the ill(h'btednl'ss secured hereby, all right, title, and interest of the mortgagor in and to any insurance policies then in force 6hall pass to the purchaser or grantee, 8. That the mortgagee may, at any time pending a 8uit upon this mortgage, apply to the court hav- ing jurisdiction thereof for the appointment of a receiver, and sllch court shall forthwith appoint a receiver of the premises covered hereby all and singular, including all and singular the income, profits, issues, and revenues from whatever source derived, each and every of which, it being l'xpressly under- stood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereof, and such receiver shall have all th" broa d and effective functions and powers ill anywise entrusted by a court to a receiver, and such appointment shall bP. made by such court as an admitted equity and a matter of absolute right 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 sai(1 mortgaJ{or or the defendants, and that such rents, profits, income, issues, and revenues shall be applied by such rl'c<.iver according to the lien of this mortgage and the practice of such court. In the event of any dl'fault on tlH' part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reason- able monthly rental for the premises an a~lount at least equivalent to one-twelfth (',"1) of the aggn.gate of the twelve monthly installments payable in the then current year plus the actual anloullt of the annual taxes assessments, water rates, and insurance premiums for such year not covered by the aforl's<1.id monthly pclyments, ,9. The ,mortgagor further cove,nants that, should tI~is ,mortgqgl' alld the lIotl' sl'cur"d ll<'rdJY not b(: elill:lble for lIlsurance under the NatIOnal Houslllg Act wlthll1 jU days from tht, datl' hl'rl'ol (\\~rittcn stat.cment of any officer of the Federal Housing Administration or authorizl.d aw'nt of t!.t' Federal Housing Commissioner dat.cd subsequeht to the aforesaid tinH' from till' date of this mortgage, declining to insure said not.c and this mortg{lge, being d('eml'd condusi\'(' pro,l! of such in. eligibility), the mortgagee or the holder of the notc may, at it.s optioH, declare Idl sums li('cur,.d hl'rl'by immediately d~l(, and payable, ....... 10, That ((I) in the event of any breach of this mortgage or default on thl' part of till' mortgagor, or (0) in the event that any of said sums of money herein referred to be rot promptly and fully paid with. out demand or notice, or (c) in the event that each and every the st ipu Jat ion;;, agrl'('nH'n t,". cond i t ion~, and covenants of said note and this mortgage, arl' not duly, promptly, and full~' pl'rforll1l'd; t\l<'n ill either or any snch event, the said aggregate sum mentioned in said note thl'll n'malllill~~ unpaid, \\'ith interest accrued to that time, and all moneys secured hereby, sha!! hecome due and payahlt- forth\\'ith, or thereafter, at the option of said mortgagee, as fully and completely as if all of t\](' said S\!ms of !nflnt',\ were orginally stipulated to be paid on such d2.Y, anything in said note 01' in this mortgage to thl' contrar,\ notwithstanding; and thereupon or thereafter, at the option of said mortgagee, without notice 01' dl'm:md, suit at law or in equity, may be prosecuted as if all money:" secured hereby had matured prior to its inst i- tution, The mortgagee may foreclose this mortgage, as tD the amount so declared due and payable, allli the said premises shall be :mId to satisfy and pay the same together with costs, exp<-nses. and allowanCl's, In case of partial foreclosure of this mortgage, the mortgaged premi1'.es shall be sold .,;ubjl'cl to till' (:flll- tinuing lien of this mortgage for the amount of the debt not then due and unpaid, In sucl~ case tlll' pro- visions of this paragraph may again be availed of thereafter from time to tim(' by thl' morlgagl'I', 11. That the mortgagor will give immediate notice by mail to Ow mortgage(' of any ('l)ll\,('yalll'(', transfer, or change of ownership of the premises, 12. That no waiver of any covenant herein or of the obligation secured hl'reby shall at allY till\(' thereafter be held to he a waiver of the terms hereof or of the note spcured herphy,