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Home My WebLink About0112 ~ ~ ~nd insnnnos pe+emimd. ~ the a~e my? be,, _snch ezoer stull bs credited b~ the mort~a~ee on sab~equent ; p~yrmauts bo b~ made b~r We a~ort,~s~o~r. u~ hawevar. the montL~ pa~meats made by the nart~a~or ' ander (b) a~ Para~?pl? 4 Pt+eoedint ahall no! b~ wAkiant tio p~~1?~n d ra~b. ta~ca and a~asment~ ; . and inauran~ ~ the cw m~ b0. when the a~me a6all beooane dne and p~yable~ theu tt?e , Q ~ o r~ O r p ~ U? ~ an~? amoun! neoe~aaq ~o malce up the deflcienq?. on or ~eiors the dste when p~rment c~ axh~r~ts, t~ses. a~eewne~n t s. ar i n s n r a n a p r e m inms s h a l l b e dua I i a t a~ t i m a t h e m o r t~ S~' a~l teadeor bo the m o r t,~~+ e s in ae~oo~sdsnoe with the provlsions oi the note aeaured hereby. fbll t os the entit+s indebtednees repre~ented t h s r e b~, t he awrt~ee a h a U. i n c~aa • , putin~ the ainonnt aach indebtedness, c.redit to the aoo~unt oi the nrort,~ator aU ents made under the provisions oi s) os p~r~csPh S hereoi which the n~c~ Las aot b~came ab~~?tal taP~? to the Federal Housin~ ner and aqy b~alanos r~n~aining~in e funds aocumnl~ted nnder t6e provisious ot (b) oi s~ida~a~ra~raph 8. If there aLall be a defanit nnd ~r o~-the provisions ai thia mort~a~e~re- anltin~ in a p bHc aak os the pr~niaea oovered hereby or ii the mort~a~ee aoquires tha P~P~Y o er~ wise aiter deiault, the mo ca~e sAsll ap ~ at the t~me ot the oo~mmenoe~aent os avch prooeedinga or at ~ the time the pro~e~y is oth~e~i:~wiae aoquire~the balance th~ _ in the innds aocumulsted under (b) oi ara~aph S- as a credit a~?~ hi~ch s1uU hs~w la~m~ide nnder~asid ~d nnd~ ssid ~ p snd ahall p a?~p~~uat aq~? P~ 1~aP 4. Tbat he wiU p~y all tazes. asse~nents, water rates. and ather ~overamentsl or mnnicipsl charQee, ~ncs, or impositions, ior which provision haa not been made hereinbetore, and in default thereof the mort~ ga~e m~y p~ the aame; snd tLst he will pro~mpt~qr deliver the o~cisl reQeipb therefor to the mortg~ee. ; ' . b. That he ~viD permi< oo~mit,~ or snHer no waste, imp~iranent, o~r d~terloration o! aaii property or ' ` ~ a~ psrt thereoi; and in the gnent oi the iailnre of the martg~or to lceep the b' on suiu premisea , n and those to be erectsd on ssid premises, or improvemeats thereon. in ~ood re ~e mortSaeee m~U? _ ~ nuke anch rep~in as in its discretion it may deem neoe~sary ior the proper preserv~t~on thereof, and the ~ fnll ama~nt o! e~rch and every anch p~yment a~all be imanediate~y due and pyrable, snd sbaU be secured by the lien a~ tbia mort~ag~e. - . 6~ T6st h~e wiU p~,y ill snd ~ the oosts. char~es, and eocpenses, inclndin~ i+MSOnsbk law;er'a , iees, and costa o~ abstracts o~ title, ncurred or pzid at aqy time by the awr~ becsuae oi the f~ulure on the patt of the mo~Or PromPtty and to perla~m the a~ree~nenta snd caven~unta oi eaid pron~ ~~~d ~ li~end oi tahis~~~ and esp~ses a1uU be immediateiy due and p~y- able and shall be secnred~x~by t-he crt~~'e. 7. T6at he will ~eep the i~o4provements ~w ezisting or het+eai'ter erected ~ the moi'~B~ed Pr'oPert~?. ~ insured as•m~r be requir~ed irom time to time by the loss by lire and other hasards~ caaiu~ities. and oontin~ei?ciee in snch amounta snd fornxs ~~~3? be re~Nir~d bY n~orltga~ snd wiII pq~rp pt~ji, vvhen dn aA,y prenc?iums on auch insnranoe ia~ t oi which provieuon not beea made,hereinbefore. ~ inanrance shall be carried in com es approved by mortgagee and the polides aad renewala thereoi absll be held by mortgagee and ve attached thereto loss payable clsasea in tavor a~ and in lorm a~ooeptable to the mortgagee. In e~vent oi las be will ~ive immediate notioe by msil to nwrtgagee, and mortg~ee may mAlce prooi o! loss i! not made pro~nptly by mortgagor. aad each insnran~oe campany oonoerned ~s hereby suthorised and directed to m~tke p~yment for aach laas directu to martga~ee instesd of to mort,gagor and mort~~ 3ointly~ and the insuranoe proceeda, or ~~~r paurt thereoi, m~y be spplied by mortgsgee st its option ei er to the reductlon oi the indebtedness heseby secnred or to the reatoration or repair oi thep perty danu~Sed. In event of foreclosure of this mortgsge or othez tranafer oi title to the morltg~ged proper~r in estin~uiabment oi the indebtedness eecut+ed hereb . aIl t, title, and interest of the mort,ga,g~or in and to aa,y insurance policiea then in foroe sLaD pias to ~e pn~ ar grsntee. ~ . - 8~ Thst the naortga8ee ma~1?. st any time pendin~ s.snit npon this mo spply to the oourt I~v ing ~nrisdiction ~ereof ior the appoint+~ment o~s receiver, and snch oourt~~~sh~ilI forthwith appoint a reoPaver of the pre~iaes oonrered hereby aU snd vin~ulsr, includin~ sU and the inao~ne. prolits, . issnes, and revenaes from ~vhatever aoaroe deri ed, each and e~r oi whicb. , t being exPreaslY nnder- stood, is hereby mortgsged ~s if apeciBcaUy set~orth and es~iwi~ the ~rantuag.and habendum clauaea hereai and sach reoeiver ahsil have all the brosd and eHective innchons and powera in anywiae entrns~ed by s ooi~rt t~ s receiver. and anch appointment shaU be made by snch oourt ss an admitted - . eqnity and a matter of sbsolut~e right t~ asid mortgagee. and without re~erenoe to the adeqnacy or inad• . equacy o~ the value oi the property mort~~ged or to the solvenq or insolvency oi aaid mortgagor or the defendaats, and tbst anch rents, proflta, inoane, issnes. and revennes shaU be applied by auch reoeiver aooo~to the lien oi this mortgage and the practioe oi anch oonrt. In the event oi any deisult on the patt of mortgagor hereunder the mortgagor agrees to paY to the mor~tga,~ee on demand as a reaaon- able montlil~r reatal for the prenises aa amonnt at least equivaleut to on~-twelfth of the aggregate ~ of t~a twelve mo~t6ly i~tallments paysble in the then can~ent year plns the actual amount oi the annual F _ P~11m~~- wster rat~es~ and insurance preminms laac anch ye~ur not covered by the aforesaid 9. The mortgag~or further oovenanta that slwuld this mortgage snd t6e note aecured hercby not be ~ eligi:ble for insurance under the National Housing Act within y~ from the date hereof ` (wntten statement oi any offioer of the Federal Houaing A~dmmis~tibn or anthorized agent of the d Federal Heuaing Commiaaioner dsted subsequeht to the ~ n f; ' time fran the date of thia ; mortgagc, declining to inaure aaid note and~ this ~mortg~g~ ~i~n~ deemed ooncluaive proof of such in eligibility), the mortgag~ee or the holder of the note may. at ita option. declsre all suma aecared her~by ; unmediately due and puyable. ~ - 10. That (a) in the event of any breach of tfiis mortgage or default on the psrt of the mortgagor. or (b) in the event that any oi said awma of money herein referred to be not promptly and fuUy paid with- ~ ~ out demsnd or notice, or (c) in the event that each and every the atipulations, agreementa, oonditlons. ~ and covenanta of asid note snd this mortgage, are not du~y, prnmpt~y, and fully performed; then in ~ either or any auch event, the aaid aggregate snm mentioned in aaid note then remaining unpaid, with ~ inter~t aocrued to that time, snd sil moneys secur~ed hereby. at~ull beoome due and payable forthwith, ~ or theresfter, st the option of aaid mortgag~e~, as iuUy and oompletely aa if all of the aaid auma of money were orginslly stipnlated to be paid on such day. anything in said note or in this mortgage to the oontrary ~ notwithatanding; and thereupon o~thereafter. at the option of asid mortgage~. without notice or demand, ~ anit at law or in equity. may be prosecuted as ii all moneya aecured hereby had matured prior to ita inati- ' tation. The mortgagee ms,y foreclose this mortgag~e, sa to the amount ao declared due andpayable, and ~ ' the asid premises ahsll be soW to aatisiy and p~,y the aame together with oosta, expenses. and aUowanoes. . ~ . In cas~ of p~artisl forecloaur~e of thia mortgage, the mortgsged premises ahall be eold subject-to the con- tiauing tien oi thia mortgeg~e ior the amount of the debt not then due and unpaid In such case the pro- visia~a oi thia psrsgrsph may a,~ain be availed of thereaiter irom time to time by the mortgag~ee. ii. Thst the mortgag~or will give immediate no~oe by msil to the mortgagee oi any o~nveysnoe. transfer, or chan~e oi ownerahip of the premiaes. _ 12. T6at no ~rniver oi any oovensnt herein or oi the obli~stion secured s at any tims , the~+e~ites be he3d to be a waivar of the ternu hereaf os o! the rate aecured he~n~ ~3 - - - - -