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Home My WebLink About2172 ti • - ' E and iaanrancs premiana~, as the ca~a m~ ~sach e~coees s1uU be credited by the anbsecW~t ; p~yrments to bs nude b~ the mort~s~or. . however, the montbl,y paymeatr e by mort,~a~os ~ andar (b) ad para~raPh $ Preoedint s1uU not be wtllcient t~ p~U? d re~b. tases and assessmeat~ ~ and iasurano~s~ premium~ as the case m~? b0. whea the aame al~beoo~ne due ~nd p~yable, theA the ! mor~~Or a~uU pa~y to ttie a~ae~a~es ~?ount aeoese~ry to mak~ np tha deticiency, on or before the ~ date when payinent o! snch ~round renb, ta~es. aesetemeots. or insuranoe premiwna ah~U be dus. It at any time the mort~gor ah~U tender to the mort~ee in acoordsncs with the provisions o! the note ~ secured hereby. iqllp~m ent of the entire indebte~aes represented thet~by. the ~~ort~s~ee sh~?11. in com- pntin~ the sunount of auch indebtedness. credit to the a~ooonnt oi t6e mor~a~Or aUp~m ents mule upder ~ the proviaions of (a) of pars~~raph S he~oi which the mort~agee has not beoome obliS~ted to p~U~ to t1?e ~ Fedenl Houaing C~onnmisaioner and any b~l~n~ rem in the i~nds ucumulated under the proviaions n oi (b) of aaid ph 2 Ii there al~all be a deisul~er ~n,y oi the provisiona oi this mortgage re- sultin~ in a p lic aale oi the premises oove:'ed herebys or it tt?e mortgagee aoquires the property ot~en wise atter deiaulk the mortS~ee aha11 aPP1Y. at the hme ot the oommenoement oi auch proceedings or at the time the prop~r~y is otherw~se aoquired, the balanoe thea rennaininS in the f~nds ucumulated under ~ p~r~r~ h-reoed~ng~as a credit a8sdnat the amount oi principsl then rsmaining unpaid under ~ ssid ote and s6aU pmperlY a~Uuat ~n3? P~Yments which ahsll have been made under (a) oi said psragraph. ~ 4. That he will p~y sU tuea, aseesaments, water ratea, and other g~overnmental or ~~ni~ipai ~har~. ~ $nes, or impositi9ns, for which provision has not been made hereinbefore. snd in defsult thereof the mort- ~ag~ee mqy p~y the aame; and thAt he will promptly deliver the o~cial receipts theretor to the mortgag^ee. ; ; 6. Thst he will permi~ commit, or auffer no waate. impairment~ or deterioration of said property or ' suy part thereoi; and in the event of the failwre oi the mortgag~or to keep the bnildings on asid preiniaea ; and ~haae to be erected on said pre~?iaea, or improvementa tfiereon, in good repair~ the mortgagee may . i mslce auch repaira ~s in its discretion it may deem necessary for the proper preservation thereof. and the ~ fnU amount of each and every auch payment ~ha11 be immediate~y due and payable. and shall be aecured . by the lien of this mortgage. _ 6. That he will pay sll and sinSular the oosts, charges. and expenses. includ reasonable law~rer's ~ ; ie~ and oosts o! abatracts o~ title, u?carnd or psid at any tirae by the mortga~~use of the failure ~ . on the psrt oi the mortgagar pra:r:g*Jy and i yto pertorn~ the sgrecments aad covenanta of said prom- issory note and t6is mortgage, and said ooets,u~C;harges, a?nd e=penaea ahall be inamediately due and pay- able ~nd shaU be aecured by the Uen oi this mortgage. • ' 7. Thst he wiU kee~ the improvements now exieting or hereafter erected on the mortgaged praperty. insured asmay be requu+ed from time to time by the mo t loss by lit~e and other hazards, casualties, and contingencies in such smounts and for suc_h peri~ maY be required by mortgagee, .~d ~ill p~y ptly, When dne, any premiums on such insun~noe for ~ayment oi which provision haa ~ot been ms~e h~ernanbefore. All inaurance ahall be carried in comp~u es approved by mortgagee and ' the policies and renewala thereoi ahall be held by mortgagee and have attached thereto lo~ss payable y_ clanaes in fsvor of and in form ad:eptable to the mortgag~~. In event of loas be wiu give immediate notice by mail to mortgaeee, and mortga~ee may mske proof of loaa if not made promptly by mortgagor. and each inaurance compatU? conoerned ia hereby authorized and directed to make payment for such ~ loes directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or , say thereof may be applied by mortgagee at its option either to the reduction of the indebtedneaa ~aecured or to the r~toration or repair of the prnperty dama8ed. Io event oi foreclosure of this ' mortgag~e or other transfer oi title to the mortgs~ed prnperty in extinguiahment of the indebtedneas secnred hereb . all riBht~ title, and intereet of the mortgsgor in and to aqy inaurance policies then in force ahall pass to ~e purchaser or grantee. & That the mortgdgee m~?, at any time pending s,suit upon thia mortga,ge. apply to the court hi?v- ing ~uriadiction thereof for the appointment o! a receiver, and anch court ahall forthwith appoint a rece~ver of the premisea covered hereby all and eingular. including sU and aingular the income~ 'profits, . iasues, and revenues fram whatever source derived~ each and every of which~ it being expt~essur unden . atood, is hereby mortgaged aa if specitically aet forth and described in the 8ranting and habendum clausea ; hereof. atnd such rec:eiver ahall have aU the broad and effective functiona and powera in anywise entrusted by a court ta a z~i~wr, ~nd snch appointment ahall be made by such oourt aa an admitted equity and a matter of absoluts right to said mortgagee, and without reference to the itdequacy or inad- equacy. of the value of the pmperty mortgaged or to the solvency or insolvency of said mortgag+or or tlye - defendants, and that such rents. proftts, income, iaaues, and revenues ahaiY be applied by such receiver sooo~ to the lien of this mortgage and the practioe oi anch courk In the event of any default on the - part of e mortgagor hereunder the mortgagor agreea to pay to the mortgagee on demand as a reaaon- able monthly rental for the premises an amount at least equivalent to one-twelfth t3i:) oi the aggregate . o! the twelve monthly inatalUnents payable in the then current year plua the acti~al amount of the annual ~ tasea aesessments, water rates. and insurance premiwna ior auch year not covered by the aforeaaid mont~?ly psyments. ~ 9. The mortgagor further covenants that should this mortgage and the note secured hereby not be eligible for inaurance under the National Houaing Act within 30 daye from the date hereof ` (writt,en statement of any officer of the Federal Iiousing Administration or suthorized agent of the ~ Federal Housing Commissioner dated subsequent to the aforesaid time from the date of thia mortgage, declining to inaure said note and thia mortgage. being deemed conclusive proof of such in- eligibility), the mortgag~ee or the holder of the note may, at ita option, declare all suma secured hereby immediately due and payable. 10. That (a) in the event of any breach of this mortgage or defanlt on the part oi the mortgagor, or (b) in the event that any of said auma of money herein referred to be not prnmptly and fully paid with- out demand or notice, or (c) in the event that esch and every the stipulations. sgreements, conditions, ~ and covenants of said note and this mortgage, are not du~y, promptly. and fully pertormed; then in either or any such event, the said aggregate sum mentioned in said note then remainiag unpaid, with ` interest accrued to that time, and all moneys secured hereby, ahall become due and payable forthwith, C: or thereafter, at the option of said mortgag~ee, aa fully and completely aa if all of the said auma of money - were orginally stipulated to be paid on such dsy, anything in said note or in thia mortg~ag~e to the contrary ' notwithatanding; and thereupon or thereafter, at the option of said mortgag~ee, without notice or demand, ~ suit at law or in equity, may be prosecuted aa if all moneys secured hereby had matured prior to its insti- ~ tution. The mortgag~ee may foreclose this mortgage, as to the amount so declared due andpa yabl~ and ` the said premises ahall be sold to satiafy and pay the same together with coata, e~cpenaes, and allowancea. ~ " In caae of partial forecloaure of this mortgage~ the mortgaged premisea ahall be sold subject to the con- tinuing lien of this mortgage for the amount of the debt not then due and unpaid. In auch case the pro- ~ visiona of this paragraph may again be availed of thereafter from titne to time by the mortgagee. 11. That the mortgagror will give immediate notice by iaail to the mortgagee of any conveyance. ~ tranafer, or change of ownership of the premiaea. ~ 12. That no waiver oi any covenant herein or oi the obligation secnred he~by shall at any time ~ thereatter be held to be a waiver of the terms hereoi or oi the note aecured hereby. ~ - . Q ~ • ~OGK ' C~Z - . _ r..,.. : _ ~ : . _ _ _ _ _ _ _ . ~ ~