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Home My WebLink About2235 . ' 1 ~ i ~•,a : ~:i , , . . and insaranvs premimns. as the case may be~ _aach e~ceee ahall be credited b~ the mort,~~ee on aubseqnent pa~rm~ts tio be m~e b~ the mort,~a~or. u. ho~?ever, the monthl~r p~?menb nu~de by the mort~o~ O oad~' (b) ad paraQraph S preoedin~ ehail aot 1~ au~cteat ~o ~r d r~ui~„ t~~ a~n~tta ~u p and inaar~noe preminn~ as the c~ae m~y be~ wb~ the eame beoo~ne dne and p~yablq thea the mort,~~or shau p~y to the mort~ee any amount necesaary tio make np the de!lcienqr, on or before the ~ date when payment oi anch around renta, ta~ces, a~e~menta, or insur~nos prmaiums ahall be due. Ii a at any ti~~o the mortg~or shaU tender to the ~t~ee in acoordane~e with the prav~iona o! the note ~ aecured her~y. fnUp~y~ent of the entire iadebtednees represeated thereby, the mort~~ee ahaU. in oom- ~ putia~ th8 amount ai aoc6 indebtednees, credit to the aooount oi the mort,~a~or aUpa~rments msde under the provisiona o! (a) oi psr~graph 2 hereot which the mortga$ee haa not beoome obligated to p~1? to the Federal Housing Co~mmiasioner ~nd any balance ng m the funda accamulated under the proviaions of (b) o! aaid 8. Ii there s6s11 be a defanl~~ der sny oi the provisions oi thia mortQage ra- anltin~ ia u p liu~ c~esle~oi the premises oovered hereby or ii the mortgag~ee aaluires tha property ot~?er- om w3se aiter deiault. the mortgay~ee ahill appl~y, at the t~me of the coaamencement oi auch proceedings ar at th~ t~me ~E grc~rty is o~~rw~e ~o4n~r~ed, the balanoenthen ~re~~ in the funds ~uxxumulated under (b) oi paragraph 8 p ~ ~ ~ ~ut ~ ~o~t ~ ~ ~ ~a~~i ~ ~a ~~~?n~ s~id note and ahall proper'~~~t ~w? r~~~ W~~,~u ~?~e 4. Thst he w~1 pay all tiuces, ~ss~~tta, ~rater rnta„ and e~~* ~~ent~,1 or municipal char~ces. nnes, or impositiona, ior which provision has not been made hereinbefore, and in defautt thereof the mort- ~agee mqy p~y fihe same; and thst ha wiU pro~mpt~,y deliver the o~lcial reoeipts therafor to t6e mort,gagee. 6. That he will permik oommit, or suffer no waste, impsirnnent~ or deterioration of said ~roperty or ~ a~y p~rt thereof ; and in the event oi the iailnre of the morfgagor to keep the buildings on aaid prem~sea snd thoee to be erected on ssid pr~aniee~, or improvements thereon. in good repair, the mortgagee m~y make snch repzira aa in its discretion it m~y deem neoessary ior the proper preeervation thereof. and the lnll ~monnt oi each and every auch payment shaU be immediately dae and payable, and ah~ll be aecur~d by the lien a~ this mortgag~e. . ' 6. That he will pay all and aingular the aoats, charg~es~ and expenaes, inclu ' ressonable lawyer's ~ees, and oosta of abstracta of titl~ incun~ed or paid st sn~y time by the mortga ~~use of the failure ~ on the p~art o! the mortgagor promptly and i ~to perform the agreementa and covenants of aaid pmm- i.sewry note snd this iqo a~e and aaid oo~ta~nu;darSes. ~uld eocl~enaes ah~li be immaiiately due snd pe~y- able uad a6a11 be aec~red br y the lien ai thia mortga$e. n , '1Lat he will kee the improvements now exiating or hereafter erected on the mortgaged P~P~Y. - insared aama~y be requ from time to time by the mo ugsinst loes by rire and =other bazards, caauaities. and oontingencies ia auch amounb and ior a~ ods as msy be required by mortgagec. . and will payprom pt~y. when due, any premiwns on such iasuranee for ~ayment of which provision has • not bcez~ mada hereinbefore. Aq inauranoe ahall be carried in oompa~u~ spproved by mortgagee and the policies and renewals thereoi ahall be held by mortgag~e and have attached thereto loas payable clauses in favor ~oi and in iorm aoceptable to t6e mortgagee. In event o! loas he will give immediate notioe by msil to mortgag~ee, and mortga,~ee m~? make prooi oi loes if not made prnmptly by mortgagor, . snd each inanranoe eompan,y conoerned is hereby authorised and directed to make p~yment for anch toes direct~y to mortgagee instead oi to mortgagor aad mo ~ou?tly, and the insurance proceeds, or , sh?ny p~t thereol,~msy be applied by mortgagee at its option~~er•to the reduction of the indebtedneas ereby seaired or to the reatoration or repair of the prnperty damaged. In event of foreciosure of this mortgsge or other tranafer oi title to the mortgsged prnperty in extia$vishaAent oi the indebtedness . secured hereb , sIl n t~ title, and interest of the mortgagor in and to an,y msurance policies then in foroe duU pass to ~e purc~aeer or grantee. 8. Thst the moztgagee m~y, it any time pending a anit upon this mortgage, apply to the court hav ing ~uriadiction thereof ior the sppointment oi s receiver. and auch oourt ahall forthwith sppoint s reoeiver oi the premisea cavered hereby aU and aingular. including aU and sin~ular the income. ~rorits. issues. snd revennes fi~n whatever sonrce der3ved~ e~ch and every of which, it being expreaaly nnder- . stAOd; is hereby mortgaged aa if ~peciflcaUy aet iorth snd described in the granting and habendum clauaes hereoi. and such receiver ahall hava all the broad ~and ef~ective fnnctions and ~ powera in anywise ~ entrnated by s oourt to a receiver, and such appointment ahaU be aeade bq auch court as an admitted eqnify and s matter of sb~olute right to said inortgagee, and without referenoe to the adequacy or inad- equscy of the value of the property mortgag~ed or to the aolvency or inaolvency of aaid ~nortgag~or or the defeadants, and that such renta. proflta, incame, iasnes, and revenuea ahaU be applied hy. auch . receiver ' aa:o~to the lien of thia mortgage and the practice af auch caurk In the event oi aay defsult on the part oi e mortgagor hereunders the mortgagor agrees to paq to the mortgagee on demand ss s reaaon sbls monthly rental for the prena~a an amonnt at teast equivalent to one-twelfth of the aggregate o! the twelve monthly inatallments paysble in the then current year ptua the actual amount of the annual tazes aasesamenta, water rates, and insuranee premiums ior auch year not covered by the aforesaid mont~ly puymeats. ~ - 9. The mortgagar further oovenants t6at should this mortgage and the note secured hereby not be eligible !or inaurance under the National Housing Act witlun 30 DAYS from the date fiereof - ~ (written stat~ement of any o~'ioer of the Federal Housing Adminiatration or authorized agent of the Federal Housing Commieaioner dated subaequent to the 3~ DI~Y~ time from the date of this mortgage, declining to insure said note and tbia mortgage, being eemed eonr~lusive proof of such in elignbility). the raort~gagee or the holder of the note may, at its option, declare all aums secared hereby immediatgly due and payable. ~ 10. That (a) in the event o~ any breach of fihia mort~age or default on the part of the mortgagor. or ~ (b) in the event that any of aaid aums of money herein referred to be not promptly and fully paid with- out deniand or notice, or (c) in the event that each and every the $tipulations, agreements, eonditions, and covenants of said note attd thia mortgage, are not duly, pram~ly, and fully perfortned; then in " either or any such event, the said aggregate sum mentioned in sai note then remaining unpaid, with interest aocrued to that time. and all moneya aecured her~by, ahali become due and payabte forthwith. or thereafEer, at the option of aaid mortgag~ee, ss fully and completely as if sll of the said aums of'money r• were orginally atipulated to be p~aid on such day, anything in aaid note or in this mortgage to the oontrary notwithstanding; and thereupon or thereafter. at the option of said mortgag~ee. without notice or demand. suit at law or in equity. may be p~oeecuted as i! sll moneys aecured hereby had matured prior to ita inat~- - ~ tution. The mortgag~ee may fonxlvse this mortgag~e, aa ta the amount so declared due and pa,yable, and the said premises ahAll be sold to sutiafy and psy the aame together with eoats. expensea. and ulMwances. In case of partial foreclosure of thia mortgage, the mortgaged prennisea ahail be sold aubject to the eon- ~ ; tinuing Uen oi this mortgage tor the amount of the debt not then due and unpaid. In such cuse t~e pro- visians oi this paragraph wsy agaia be availed o! thereaiter irnm time to time by the mort~a,g~ee. li. That the mortQagor will give immediste notioe by mail to the mort~ag~ee oi any couvey.anoe, transfer. or chan~e of ownerahip of the P~ 0. R! 12 That no wsiver oi a~?y ouvenant herein or of the obU~atfon secured hereb~ ~ 1~1. . therea.fter be held to be a waiver o! the ternia hereot cr o? the note secur~ed hereby. ` - . - _