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Home My WebLink About1930 n ~ wd insuranas premimns. ~s the c~., m~~? snch e~coen ahalt be credited by ...e mo ~ o beeqi~f;;~1 p~ymenb ~o b~ mad~ b~ the a~ort,~a~or.~, ho~rever, ths moath~ p~y~a~ts a?~~ e~y~~ao:t~a~oa . nnder (b) od par~n?ph S precsdia~ abaIl ~ot b~ wlSdest to p~ renb. ta~~as and aMa~saaents and insnranos_ _premit~ns, as the ca~s mpr be, whean the s~me ~beooans due aad p~yable, then the mort,~or sbs~t p~y to the mort~a~e~ aqy amount neoesaar~ to malce np the de~cieaq?. on or before the , dats when pqrment os aach ~rotm~ ranta taxes, aeaeeamez?ts, os insuranos prewi~uns shall be due. Ii •t an~y time t6e mort~a~or ahsU tender to ths mortg~ee in a~ucordance with the proviaions oi the aots secured hereby, itill ent oi the entire indebtednees represented thereby. the mort~s~ee shall, in oooa- pu~r t~e ~nt o~ ~a~t~~, ~t to t~e,~oount oi ~ne morr,~r~ •u ents msde under , the provisiona oi s~ ) oi~psr~rspb 8 hereoi which the ma~ has not beowne o~ted to pay to the Fedeni 8ouaing Comm oner and any bslance naini~ in e funds i~ocumulated uader the provisiona of (b) oi esidu~~r~raph 2. Ii there shall be a deiautt under an~r oi the prov~isions oi thls mo ~s~ re- aultinQ in a p 1Ic aale of the pre~niees ouverad hereby or if the mort~aQee aa~uires the property~ - other- wise atter default. the mo r t g~ s~ e e aZull spply. at the t~me of the commencement oi auch proceedinga or st the time the pro~ e r~ is otherw~se a~cquired. the b~lanoe then remainin~ in the tunda accumul~? t e d under ~ S 3 _ g;~~ d i n aa a c~ d it a a c a i n s t t h e ~nnonnt oi p r i ncipsl then remaining unpaid under ssi d no t e s~ a h a ll Pr~ p e r l y a~ 3us t aqy p~y~men t a w h i c h s h a ll have b e e n made un d e r ~aj o~ said par~rx~,~,. . 4. 14ut he will p~y all teucea. asseaamenta, watar rates„ snd other ~overnmeatsl or municil~l ~8~, ~ . l~nes, or innposit3ons, for which proviaion has not k+een made hereinbeiore, snd in deiault thereoi the mort- ~~ee m~? P~Y ~e aame; and tbat he ~vill P~P~Y deliver t~?e o~cial reoeipts therefor to the mortgsg~ee. b. That he will permit, co~nnninit, or snQer no waste, impe~irment~ or deteriontion oi aaid propeity or ~ anyp~ thereof; snd in the event oi the failure oi the mo t~~ to keep the buildings. on asid preinisas - snd ~hose to be erected on aaid premiees~ or impmvements~ikFiereon, ia good repuiir. the mortgagee ma,~? ~ ~ malce anch repai~ as in ita discretion it m~? deem neo~ary for the proper preservstion thereoi. and th , inll amount oi each and every auch p~ymeat ah~~U be immedinte~y dne and p~yable. And shaU be ~ ' by the lien oi this mort~age, 6. That he w~l p~y all and the oosta. eh~rges~ and eupeases, includ~ reasonsbie 1~?w~rer'a , ~ees, and oosts oi abstncte oi titl~curred or psid at aqy time by the mort~ag~e becauae of the iailure , on the pf?rt vs th~e morkBsBor P~P~Y and ~y to pertorm tl~e ~greementa ind oovenants of eaid prooa- iasory nnte and t6ia mo snd a~id coats,~~ c~sr~es, ~und ezPe~sea shaU be imnaediately due snd pa,y- ~ sble and a6sll be secnred by~e liea of ~is mortgaQe. 7. That he wiU l~eep the improvements now ezist~ or hereatter et~ected on the mortB~ P~P~Y. ~ insured as m~y be reqnired imm time to time by the ma~tgaeee loss by flre and other hasarda, casualties. s~nd oontingencies in such amounta and for s c-6 ~msy be r~quired by ma and will p~ygmm pt~. when dne, aRy pr~saiunns oa anch insnrsnos ior ~yment of which proviaio~~ nat been made ~ereinbefore. All inawranoe ahall be canried in co~apawes spproved by mortga,~ee and the policies and renewals thereof ahall be held by mortgag~oe and have sttached thereto loas p~yabk `,~,~~••~•cLnses in iavor oi and in form a~a~eptable to the mort,~agee. In e~vent oi lass he will notice b m~W to nx?ukgagee, and mo ~ve immed'ute , ; y rtga~ee m~? mslce proof of loes it not made prosnptly by mortgagor. ~ snd ea~ch ~ insnranoe oompany concerned ~s hereby authorized and directsd to nnake payment for such ~ loes directly to mortgagee instead of to mortgagor and mo ~ointly. and the inanrance pmcee~ds, or ' , sn,y thereof, ma,y be applied by mortgag~ee at ita option~er•to t6e rednct~on of the indebtedness h~iewred or to the restoration or repair of the property damag~etl. In event of foreclosurc of t6is ; • mortgag~e or other transfer of title to the mortgaged property in e~tinguishment of the indebtedness ~ ~ secured hereb~. sD ' t, titte, and interest of the mortgs~g~or in u~d to aqy inaurance policiea then in foroe - sbaD paaa to the or grantee. ~ ~ 8- That t~e morlSsg~ee may, at anY time pendin~ a suit upon this mortg~ge. ~pply to the oourt hav- ' ing ~urisdiction tbereof ior the appointment o! s reoeiver, snd anch oonrt shall forthwith appoint a . reoeiver o! the prennises covered hereby ali and a' ular, inclqdin~ all and sin~ulsr fhe inco~me. Protits, iasnes. and revennea fram whatever sonroe deriv ea~h aad e~very of ~vh~ stood, is hereby mortgag~d aa if apecillcally set forth and d+escribed in tbe it being exPreaelY nnderL granting snd habendam clauses hereoi and anch reoeiver ahaU have all the broad and effe~tive fnnctions and powera in anywiae entrua~ed by s oourt tfl a receiver. and such appointment ahaU be m~de by snch court As an admitted equity and a matter of absolute right to said mortgag~ee. snd w~itha~t refereuce to the adequacy or inad- eqwcy of the valne of the property mortgaged or to the aolven~.y or insolvency oi aaid mortgag~or or the defeudaats, and tbat such renta, pmflts, inco~me~ issues, and revenues shaU be appUed by auch receiver aooo~ ta the lien oi this mort,gage and the practice of auch courk In t6e event of any defauit on the part of e mortgagor hereuader; the mortgag~or agrees to pt,y to the mortgagee on demand as a resaon- . ~tble monthly rental ior the ~rem~s an amount it least eqnivslent to one-twelith oi the aggregste oi the twelve monthly installmeata payable in the then cnrrent yesr plns t6e actusl s~mount of the aanusl ~~~Y P~Y~?~. water rstes, and inaursnce premiuma far. snch yeu nqt oovered by the aforesaid ~ 9. The mortqa,gnr further covenanta that ahould this mo~ d the note eecured hereby not be eligible for insurance under the National Housing Act withia t ir y~ays from the date hereof ( written staten~nt of any o~cer of the Federal Housing Adminiatration or authorized a$ent of the Federal Housing Commisaioner dated subeequent to the tfiirty .days 'time from the date of this mortgage~ decliriitwg to insure said note and this mortgag~e, beiag deemed conclusive proof of snch in ~ eligibility), the mortg^ag~ee or the holder of the note may. at ita option, declare all sums aecured hereby immediately due sad. payable. • 10. That (a) in the event af 8ay breach of tfiia mo~tgsge or default on the part of the mortgagor, or ~ ( b) in the event that any of said sums of money herein eferred to be not pmmptly and fully pnid with- out demand or notice, or (c) in the event tliat eac;~ and every the atipulations, agreementa, oonditions, and covenants of said note and thia mortgage, are not duly, promptiy, and fully pertormed; then in either or any auch event, the said aggregate anm mentioned in asid note then remaining unpaid, with interest aocrued to that time, and all moneya secured hereby, ahall beoome due and payable forthwith, or thereafter. at the option of said mortg~gee, a8 fupy and c~ompiet~ely as if a!i of the eaid nume of money were orginally atiputated to be paid on such day, anything in aaid note or ia thia mortgage to the oonti~ry notwithstanding; and thereupon or thereafter, at the option oi ssid mortgagee, without notice or demand, suit at law or in equity, may be pro~ecuted aa if all moneya eecpred hernby had matured prior to its inati- ~ tution. The mortgag~ee may foreclose this mortgag~e, as to the amount so declared due andpayabl~ ~nd the said premises ahali be aoid to satiafy aad pay the aart~e together wi~h cast~s, expensea. aad allowanoes. In case of partisl forecloaure o! thia mortgage, tbe mortgaged premisea $hal! be sold subject to the oon- tinuiag lien oi this mortgage for the amount oi the debt not then due and unpaid. In such case the pro- viaiona o! thia parsgnph may again be availed of thereafter from time to t,ime by the mortgag~ee. ~ ~ il. That the mortgagor will give immediAte notioe by msil to the mortgagee of aqy conveynnce, _ tranaier, or change oi owners6ip of the premiees. 12. ~t no waiver oi any eovensnt herein or oi the obligaHon secured hereby shaq st any tiras ~ thereaiter be held to be a waiver oi the terma hereof or of the note aeeured he b~. ~ ' ~ ~ 8~~~ ~79 . _ - _ . _ _ _ - . -