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and iosutana pe+eoliaaa~. as d~ caM an~y roch ezoer atuU b~~e~itAd b~t.the ~tt~es an wbieauest
p~rmeuts Lo b~ made bpr the mort~asar.~. howev~sr, t4s ~oaatp~p W~Y~cleph~iaaae W? t6~ mort~or :
mdar (b) at para~raD~ $ P~nt aLaD aot b~ ~t tio p~~~1r~onn
d rents. t~ca and aaaan~enb ~
. and insur~n~
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y~theu the ~
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secnred hereby. taUp~ym
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pnt~ n~ the amount oi snch indabt+edneea. credit to the aooount oi the most;~s,~or all entt aurde under
the proviaiona oi a) o! p~ra~raP~ 8 ber~eoi which the nw?rt~ee h a s n
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_ Faderal Housing ~nd aqy balanoe re~~in e iands aocwcnulated under the provisiow 3
oi (b) of s~id ph 8. Ii thsre shall ~e a det~wlt un an, oi the provLions oi t6ia mo re-
s
wltin~ in a lic ~xle o! the pr~ises oovered hereby or ii the a~ortga~ee uirea the property o er-•
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wi~e after default, the mo shall aPPU?. at t6e t~m~ ot the oammeno~ ot wich prx~edin~s or at ~
the time t6e pro is oth a~oqaired. the balance thea in the innds socumulated und~r.,
(b oipsr~~t
p~p as a credit ~i~ t~~~~
~r~~~d psid unde~
~d note and ahsll prop~~ ~RY P~Y~ ( ~ . p~ `
4. Th~?t he will p~y sll tsuc~, aeseemnent~ water ntes, and other ~overnm~W or mnnicip~l char~es. ~
l~er, or impod~ions, ior which p~ovision has not been ma~e herainbelore, ~nd in dei~ult thereoi the morw
. ~~ee m~? P~? the a~; snd t6at he will piampt~y deliver the ot6cial reoeipM lh~efor to the mort~ee. ~
. - 6. That he will permit~ ootnmit, or auffer no wasta imp~iraaen or detertoration of ea~d property or
~ auy there~i; ~nd in the event oi the iailnre oi t6e mort~or~ lceep the buildings on eaid pre~uaes ~
ana ~oee to be erect~ea oa saia premises, os improvem~?ts ereon. in ~ooa rep~ir, the mort,~a~ee m~?
~ malce auch rep~sira as in its discretion it m~y dee~n neoe~sary #or the proper preservat~on thereof, snd the
~ ± i
ylth~e
li~
n~
this m~ortd~~ auch p~mnent ahsll be ~ immediately due and p~yable, snd ahall be aecured
~ 6, Tl~t he wiU pay all snd aiin,~ular the oats, char~es, ~nd eo~penses. includin~ reasonable L~a
!ees, and ooats of abstracts oi titler incurred or psid at any time by the mort~~ee axsnse oi the f lure .
on the put oi the mortgagor promptly snd to pertorm the a~reemente and coveiunts of asid prom-
ey
~ issory note snd t6is mo and aaid costs,~~ char~es. and ezpenses aluU be immediate~y dne snd p~y
~ble snd ~11 be secnred by e lien oi th~a mostgag~. _ ~ •
~ 7. Tl~at he vvill keep th~e improv~nenta noNr gxiating or hereafter erected on the mortasged P~PertY.
; inanred asm~p be required iro:n time to time by the ~ loas by flre ~nd other ~zarda.
' casualties, and cont~ngenciea ia anch amounta snd ior
s~~
~~ch periads as m~y be reqnired by morltga~e.
and will p~ypromptly, when da_e~ ~y pr~miums on such inauranoe-ior ~Wnnent of which pravision bas
~ not been made hereinbefore. All inauranoe shmll be carried in oompswes approved by mortgagee snd
' ~ the policiea and renewals thereof ahall be held by mortga~ee snd have attached thereto losa payable
; clanses in isvor of and in iorm acoeptable to the mortgagce. In event ot loss he wiU give immediute
notice by mail t~ mortgagee, atnd mortga~ee may nuke prooi of loss ii not made promptly by mortgagor.
n
. and e~ insuranoe cwnpany conoerned ~s hereby authorized and directai to malce pay?ment for such
~ : lass directbr to mortgagee inatead oi to mortgagor and m~ jointly, snd the insunnoe proceeds, or
' : suy.p~art tbereof, msy be applied by mortgagee at its option ei er to the reduction oi the indebtedneas
her8by secnred or to the reatontion or repair of thep perty damag~ed. In event of foreclosure of this '
. ' mortga,g~e or other triu~fer of title to the morltgag~ed pmperty in estinguishment oi the indebtedneas
~ `aecured hereby, sll ght, title, and interest of the mort~gor in and to any insurance policiea then in foroe
~ sbsD pass to the puri~?aser or grantee.
; .
` 8. T!?at the mortgag~ee m~y, at sai? time pendin~ a auit upon this mortQ~e. ~pp1y to the court hav
~ ing jnrisdiction thereof ior the appoinbneat oi a receiver, and such conrt ahsll forthwith appoint a
; reoeiver oi the premises cavered hereby all and ai , incladii~ s?11 and ainguaar the incane, proftts,
issues, and revennes from whstever souroe derive~eac6 and e~v oi ~rhic.~, it being eupreesly nnder-
~ stood, is hereby mortgsged as if spaciflcallp set forth and describoi~ the grantang and habendum clauses
~ her~oi snd sncL receiver shiU have sll the brosd and eRective functions snd powera w anywise ~
entn~a~ed by a court to a receiver, and snch sppointment a1wU be made by snch oourt as an adraitted
equity snd s mstter oi absolute right to said mortgagec. snd ~vithart referenoe to the adequacy or inad-
equacy of the m~lne o! the property mortgaged or to the aolveacy or insolvency oi aaid mortg~gor or the
defendaats, su?d t1u~t anch renta. profits, inoome, issues, snd revenues shsU be applied by auch seceiver
aic~oo~to the lien of this morkgage and the practioe oi auch oonrk In the event of sny default on ttie
p~sit of e mortgagor hereunderi the mortgagor agrees to p~? to the mo~ on de~nd as s re~son
' ~ able montLly rental ior the prean~ an amamt at least eqnivalent to one-twe th oi the s~ggregate
- o! the t~velve monthly instalUaenta psyable in the then wrrent yeu plus the actwl amount of the uinwtl
~ ta~ces asseesmeats, water rates, and insuranoe premiums fo~ snch yeu not cmrered by the aforeeaid
~ mont~ pa~yme~ata.
~ 9. The mortgag~r further covenants that ahould thia mort~age and the note eecured hereby not be
~ eligible for insurance under the National H ng Act within ~ sp ~~y~ irnm the date hereoi
E (written atatement oi any o~cer of the Fad~eral Housing A is~ration or anthorized agent of the
~ Federal Housing Commiasioner dated aubeequent to the af orea id time fro~m the date oi this
mort~gage, declining to insure esid note and thia mortgsg~e. being ~ conelasive proof of such in-
~ eligibility). the mortgag~ee or the holder o! the note may, at its option, declare all anma secured hereby
i ~ immediately due and ps~yable. ~
~ 10. That (a) in the event of any breach oi thia mortgage or default on the put of the n~ortga~or, or
i ~ (b) in the event that any. oi said aums of money herein referred to be not promptly and fully pai~ with-
out demand or notioe. or (e) in the eveat t6at each and every the stipulations, agreements. conditions,
` ~ad aavenanta oi aaid note and thia mortgage, ure not du , promptly. and fuUy performed; then in
n
~ ~ either or any such event, the said aggregate sum mention in said note then remaining unpaid, with
~ interest aocr~ed to that tiaie, and all moneya.secured hereby, ahsll beoome due and paysble forthwith.
or thereafter. at the option oi said nartgsg~ee, qa iuUy and oompletely as if all oi the ssid sums of money
~ were orginall~r stipulated to be paid on such day, anything in said note or in this mortgage to the contrary -
~ notwithstanding; and thereupon or thereafter, at the option of aaid mortgagee, without notice or demaad,
~ suit at law or in equity, may be pmsecuted as ii aU moaeya secured hereby had matured prior to its inati-
~ tution. The mortgagee may foreclase this mo as to the smount so declared due and payb
1~
~ the setid premises ahaU be sold to sstiafy and psy~~e
same together with oosts, expenaes, and al
~ In case of partial foreclosure oi this nwrtg~ge, the mortgag~d pre~nises shall be aold snbject to the oon-
~ tinuiag lien of thia mortgage for the amount oi the debt not then due and uapaid. In such case the pro-
~ visiona of this para~rsph may again be availed of thereatter irnm ~me to time by the mortgag~ee.
li. That the Aaortgsg~r wip give inamediate notice by mail to the-mortgagee oi any conveyanoe, ~
~ trsnsfer, or chsagp ot ownerahip of ffie premiaea. ~
12. Thst a~ waiver oi~ any oovesyat herein or oi the obli~ation secured hereby ah~U at any t~e
thereaiter be held to bs a waiver ot the terms her~eui or o! the note eecured hereby.
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~ ~ eo~~ 84 18~ ~
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