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Home My WebLink About1050 . ' ~ - \ .:i.? i~t . . and insuranae p~+efniums. as tbe we m~? be,_ _anch ezoees ahall bs credited by the mort~ag~ee on subseQuent • pqn~euta t~ be ma~s b~ the murt~or. Ii. however. the anonthlr p~ymenta msde by the nwrt~a~or andsr (b) a~i Pata~raph S preoedin~ aL~ll not b~ sttmcient t~ p~Ur~onn d rents. taaea aad ~ua~ssment~ and in~snsanos_ _premiu~ ~s the case m~? be. ~rhea the aame ~~ll k~a d~+ ~nd p~yablq th~ea the : mort~o~r i6i11 pa,y to the m~~~ a~y amonnt neoeesar~ bo m~te ap tLe desciency. on or before the date wh~ p4ment of wch ~rouad~ reats, tues, aaseesments, or insuran~e pre~niuma ahall be due. ii ~ st an~ ~e the mo~t~a~or shall tender to the nwrt,~aQee in ~~ooordsnce with the provisions oi the note secured ha~+eby. ibllp~ym ent o! the eat~re indebtedness represented thereby. the n~or~a~ee shsU. iu own- . ~ pntia~ the amount c~ wch indebtedneas, credit to the aoocunt oi the mort,~~or aUp~pm ents made under ~ the proviaions oi s) oi par~,graph 8 hereoi which the mo~ has not beoume obli~ated t~p~U? to the ~ gederal Honaia~ oner and any b~leu~ue in e tunda ~?ocumulated under tbe provuions oi (b) ad said 8. Ii there shaU be a d~ sult un er aa3? of the provisio~ ~thia~ort~~ ~ anltia~ in a p lic ss~le ai the premiaes oovered ereby or it the mortgagee ~oq p pe , ty oth wise aiber deiault. the mo ahsU apply. st the t~me oi the oommencement oi auch proceedinga or at the time the prope~y ia oth~~ aa~nired. the balance then in the ftimds accumulated under ~ he (b) o~i para,~raph 8-pt~eoeciin8 as a cred~t againat the amount oi prin pal then remsining unpaid under said nots snd ahsll p~c+~perl~y ~dlust ~?W? P~Yments Whic6 ahall h~ve been made uader (a) oi aaid paragraph. 4. Tbst he will p~,y all tuea. eea~anents. wster rates. snd other ~over~mental or municiPal charSes. ; f~nes, or impositions, for which provision has aot been made heninbefore, snd in default thereoi the mort- sag~es may pa~ the aame; and that he will pramptl~y deliver the official receipts theretor t~ the mortgagce. . b. T6at he will perm~t, commit~ or au~er no waste, impairment~ or deterioration ot aaid pmperty Qr an~psrt thereoi; ~a ~ t~e ~?t ~ t~e igu~ ~ t~e m t~agor to keep the buildings on aaid premiaes , : and ~hase to be erected on said premisea. or improvementsa~lthereon. in Sood repair. the mortgagee may ms~ce auch repairs as in its discretion it m~y deena neceaasry for the pmper preservat~on thereoi. and tlle . ~ ibU smonnt oi each snd every auch p~yment shaU be immediately due and payable, and ahall be secured ~ ~ b~ the lien a~ tbis mortga,g~, 6. Tbat he wiq pay sll snd the eosta. charges. snd eocpensea, inclu ' re~soaable la er'a ~ iees,~ and ooets oi abstracta o! titl~e.~ncurred or paid at any time by the martga~ee~useb! the f~l~re~ on tbe p~art oi the mor#gagor pranptly and to perform the sgreements and oovenants of said prom= issory n~te ind thia mor~b the l~en oiltahis mo~~~~' and e~cpenaes ahall be immediately due and pay- able and ahall be sec~u~ed y rtSa6'e. Z. That he will keep th~e improvements now e:isting or hereaiter erected on the mortgaged property, ;nanred as•m~y be required iram time to time by the mo lo~s by Rre snd other hazards, caaualties. snd eontiagencies in auch umonnta and for au~ ~ma~y be required by mo:;t,gagee. ~ aad wilt p~ypromptly, when due, a~y prenniums on auch insnrance for pa~?ment oi wh~ch proviaion haa ~ no~ beea msde here~nbefore. AD insurance ahall be carried in oom es appmved by mortga~ee and ~ no the policies snd renewals thereof shsll be held by mortgagee and ve attached thereto loas psyable clsnses in fsvor of and in form aooeptable to the mortg:?gee. In event of loss he will give immediate . notioe by msil to mortSaB~ee. and mortga~ee may? make proof of loas if not made promptly by mortgag~or. ! and ~ch insnrsnoe oompaay concerned ~a hereby anthorized and directed to make payment for such = lo~e~s directl,y to mortgag~ee inatead of to mortgagor and mo t~a~ee ~ointly, and the insurance proceeda. or ~ aRy thereoi, m~,y be applied by mortgagee at its option either.to the rednction of the indebtedness ,~secured or to the restflrstion or repair of the pmperty damag~ed. In ev~t of foreclo~ure oi thia . ` mortgag~e or other transfer of title to the mortga,~ed properf:y in extinguishment of the indebtedneas ' ~ secured hereby. all riSht, title,~snd intsreat of the mortgagor fn and to an,y insurance policies then in force . ' sLall pass to the purchsser or grantee. ~ ' ~ 8. Tbat t6e mortgagee ma3?. st snY time pending a suit upon this mortgag~e, aPP1Y to the oonrt }u~v- ~ ing ~wrisdickion thereof for the appointment oi u receiver. and auch o~nrt ahaU forthwith appoint a ~ reoeiver oi the premiaes eovered hereby all and singular. including sll and singular the ~ncome. profits. . issnea. snd revennes lrrnn whatever source derived, each and every oi ahich, it bein8 e~PresalY under~ . st~ood, is hereby ~rkgaged aa if speciflcally set forth Bnd described ia the granting and hebendum clausea . hereuf and snch receiver atiall have sll the broa d and effective iunctions and powera in anywise entrua~ed by s oourt to a reoeiver, and snch appointment ahall be made by auch eourt aa u? admitted eqnity snd a matter of ab~olnte right to asid mortga~ee, and witLoat reterence to the adequ~? or inad- ~ equa~y oi the valne oi the praperty mortgaged or to the aolvency or insolvency of said mortgagor or the defe~ndants, and that auch renta. profits, incona~ iasnes, snd revenues s6a11 be applied by such receiver sooo~tfl the lien of this mortgage and the practioe oi auch eoark In the event of any default on the part o! e mortgagor hereunder~ the mortgagor agreea to F: Y to t1?e mo ~a~ee on demand as s reason ~ sble monthly rental for the premues an amount st lesat equivalent to one-t~~~?elfth (3i:) of the aggregate ; of the twelve monthly instaliments paysble in the tlien current year plus the actual umount of the annual ~ taz aase~ameats, water rates, and inaurance premiums for such year not eovered by the aforesaid ' mon~ payments. ~ - . 9. The mortgagor further covenants that should this mortgage and the note secured hereby not be eligible for insurance under the National Housing Act within ~0 DA S from the date fiereof ; (written statement of any officer of the Federal Housing Adminis~ra~ion or authorized agent of the ~ Federal Housing Commiasioner dated subeequeht to.the ~Q UqI'~ time from the date of thia mortgage, declining to inaure aaid note and. thia ~mortg~g~e, being 8~emed oonclusive proof of such in- eligibility), the mortgagee or the holder- oi the note may. at ita option, declare all autns aecnred hereby immediately due and payable. . ~ - 10. That (a) in the event of sny breach oi fihis mortgage or deiault on the part of the mortgagor, or (b) in the event that any of said aums of money herein referred to be not promptly and fullq paid with- out demand or notice, or (c) in the event that esch and every the atipulations, a~reements. oonditions, ~ snd caveasats oi s~id not~ and thia mortaa~e. are not da~r, prompttly, and fuUy pertormed; then in e either or any anch event, the said ggregate aam mentioned in asid note then remaining unpsid. with intereat aocrued to thst ti~r?e, u?d all moneys secured hereby, ahall beoome due and p~?yable forthwith. or thereafter. at the option of aaid mort,gag~ee, as fuUy and c~npletely as if sll of the asid sums of money wer~e org?inall~r stipulated to be paid on auch day, ~rthing in asid note or in thia mortgage to the cod~~ notwithstandwg ; and thereupon or thereaiter, at the option of said mortgagee, without notice or , suit at Lw or in equity. may be prvsecuted aa if all moneys secured hereby had msb~red prior to ib inati- " tution. The mortgag~ee msy forecloee thia mortga~e. aa to the amount so declared due andp~yable, aad ~ tlie said premisea shaU be sold to satiafy and psy the a~une together with costa, expenses, and allowances. In case of partial forecloaure of this mortgage, ttie mortgaged premiees ahall be eold subject to the aon- tinuing lien oi this mortgag~e for the amount oi the debt not then due and unpaid. In such caae the pro- viaions ot this paragrsph may ugsin be availed of thereatter fmm qme to time by the mortgag~ee. ll. That th~e mortgag~or will give immediate notioe by msil to the mortgagee oi any conveyanoe, s trinafer, or chsng~e of ownera6ip o! the premises. ~ 12 Tbat no waiver oi any caven~nt her~n or o~ the obiigstion secured hereby s st time . P . theresfter be held tfl be s ~raiver oi the terms hereoi or oi the note secnred hereby. ~~O ~C~O ~rai . I ~ _ _ _ ~ . - .f~..~_.~.._~,~.a....T»...-,_.:_~___._ _ __._._._M_....~._...._