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Home My WebLink About1520 . . - . • - - - - . ' ' t s • . ~ wd iAwranoe premiun~. s~ the e~e mq? be~ _akh eo~oers shall bs credited b~ the mort~.a~ss oa s~ib~eqwot ~ ~ ~ p~rments to be made by the mort~~or. u~ however. t~hs month~r pp?meots m~de by the mort~ot ~ ' ander (b) ad para~raPh 8 Preoedin~ aha11 n~ b~ a~ciant ~ p+~1r~oun a~a, t.~ ,~,a and inauranos~ums, as the ca+es m~y be. wheo the same ahall beooine dne and payabl thea the ! mort~~or alhalI p~y to the any ~mount neoeesary to malce np the deflciency, on or~ore the ; ~ d~?te when payineat of auch~renb. ta~ca. aade~aments, or insuranos Premiums ahsll be due. Ii ~ at aqy time the mortaagor ahall tender `o the nwrt~a~ee in aooordanos with ths proviaiona oi the note aecured hereby. irillp~ym ent oi the entirs indebtedness rapre~ented thereby. the mort~a~ee ahaU, in com- putin~ the amount oi auch indebtednees~ ct+edit to the uxount oi the awrt~~or sU enta made under the proviaions o! a) of p~ragrsph 8 hereoi which the ma~ has not beoane ~ted to ps~? t~ the Federal Housin~ ioner snd aqy bulance ~r~n~inins in e i~mds aocumulated under the provlaions oi (b) of saidpar~graph 2 Ii there shaU be a deiaWt under ~ny oi the provisiona oi this mortg~e re- aultin~ in a public aAle oi the premisea co~+ered herebyt or if the mortgaQee acquires the praperty ot~er- ~ wise atter default, the nb~a,~e ahaU apply~ st the hme oi the oammeacement oi ruch proceedia~s or st the time the prope~q is oth~erw3se acquired, the bslanoe then r~~aainin8 in the iunda ucumulated uader '(b) ofp~r~ra ph S-p as a credit aes~a.~ the amount o~ prIncipal then rems~inin~ unpaid under t said note snd sh:U prop~uet aqy paymenta which ahall luve been made under (a) oi said paragr~ph. 4 4. Tl?~?t he wiU pqy sU t~sea, aas~ssments. water r~tes~ and other ~overnmeatal or municipsl ct~arQes. ~ es ~ linee, or impositions. for which provieion has not been made hereinbefore. and ifi deisult thereoi the mort~ • ~agee m~y pqy the aame; and that he wiU prom-~:~ly deliver the o~cial reoeipb therefor to the mortga,~ee. i b. Tl~at he will pernaik oommit~ or su8er no waste. impairment~ or deteriontlon. ai e~iid property or: ti n~s ai sqyp~urt thereoi; and in the avent oi the i~ilure oi the mo r to keep the bnildi on aaid premiaea ~ t and those to be erected on said premises. or improvementa et+eon. in aood repur~ the mortSaeee ma1?) mske auch repaira as in its discretion it m~? deem neceasary for the proper preservat~on the"reoi, and.thd ~ ~ iull amount o! eaah and every auch p~yment shall be immedistsbr due and ps~yable. and shaU be secured by the lien oi this mwrtga~e. f 6. That he wiU pay all snd the costs, cLsr~es, snd ezpeases, includiug reasonable lawyer's fees, snd ooats o! abstracts oi title~curred or p~?id at sny time by the mort~agee beca~use of the failure ~ on the psrt oi the mortgagor pro~aptiy and i to pertorm the agreen?ents and oovenants of aaid rom- ro a p s U ~ iasory note and t6is mo ~a ~a ~t~, snd eocpenses shaU be immediate~? due snd p~~y ~ able snd ahall be secured b~ q~s lien oi this mortga~ge. ' Z. That he will kee~ the improvements na~r exiatin~ or hereaiter erected on the mortgaged P~P~Y. insnred asn~ be reqnir~ed irom time to time by the mot~ageea~ainst lass by fire and other hazards. ~ casnalties, and contingenciea in auch amounta s~nd for such peri'ads ~s m~Y be re~luired by morly;a ee. ~ ~ snd will p~,y pramptbr, when du~e~ sny pre~niuma on such i~osurance for ~ayrnent oi which provision not been made hereinbefore. All insur~u?oe shali be c~~rried in comp~an~es approved by mortgagee and i the policies snd renewal,s thereoi ahall be held by mortgsgee and have attached thereto lass payable clsuaes in fsvor of and in fortn ~wceptable to the mortgaQee. In event oi lass he will g?ive immedixte notice by msil to mortgage~, and mortg~ee may make proof oi loss if not made prwnptly by mortgagor. and each insurance oompany concerned is hereby authorized snd directed to make payment for such loss directly to mortgagee inatead of to mortgagor and mo ~o~ntly, and the insurance proceeds. or ~ anyput thereoi~ m~? be applied by mortgag~ee at its option~~er•to the reduction o! the indebtedneas i hereby ~ecured or to the reatoration or repair of the property damaged. In event of foreclo~ure of this mortgage or other transier of title to the mortgaged property in eutinguishment of the indebtedness ~ aecured hereb , all right, title, and intereat of the mortg$gor in an~ to any insuranoe policiea then in force ahaU pae~s to ~e purchaser or grantee. , ; 8. That the mortgag~ee may, at any time pending a suit upon this mortga,~e, apply to the court hsv- ~ ~ ing ~nriadiction thereof for the appointment oi s receiver, and such conrt shall iorthwith appoint a ~ rea~aver of the premisea covered hereby all and sin~ular, inclading all snd ain~uLir the inoane, proftts. ~ issues, and r~,wennea from wiwtever souroe derived, e~ch and every o! which, rt being ezpreasly under- ~ stood, ia hereby mortgaged as if apecilicsUy eet forth and described in the granting and habendum clauses hereol. and auch receiver shall have all the brosd and effective innctiona and powers in anywiae ~ c entn~sted by s court to a receiver, and such sppointment ahall be made by such court as an admitted ~ eqnity and s matter of absolnte rigLt tfl said mortgagec. snd without reference to the adequacy or insd- equacy of the value of the pmperty mort~aged or to the aolvency or insolvency of asid mortgagor or the defendsnta, snd that such renta, pro~ts, income. issnes, snd revenuea atull be spplied by auch reoeiver aeoo~ to the lien of this mortgage and the practiee of such ooark In the event of any default on the ~ part of e mortgagor hereander; the mortgagor~grees to pay to the mortgagee on demand as a reason- i able monthly rental for the pr~n~ an an?onnt at least equivalent to one-twelfth of the aggregate ot the twetve monthly it~atallmenta payable in the then curreat year pltu the actaal amount of the xnnual ; ~ tases asseasments, water rstes, and insuranoe preminms for auch yeu not oovered by the aforesaid _ ~ mont~ly p~?me~ab. F { 2 9. The mortgagor further covenants' that ahould this mortgage and the note secured hereby not be ~ : eligible for insurance under the National Houaing Act within ~0 a8 from the date hereof ~ ; ~(written statement oi any o~cer oi the Federal Housing Administru~io~r authorized agent of the ` = - Federal Housing Commissioner dated subsequent to the aforesafd time fmn? the date of this mortgage, declining to insnre ssid note and this mortgage, being deemed concluaive proaf oi auch in- ~ eligibility), the mortgag~ee or the holder of the note may, at ita option. declar+e all suma secured hereby ; immediately due and payable. ` " 10. That (a) in the event of any breach oi ~his mortgage or default on the part oi the mortgag~or, or ~ ' (b) in the event that any of aaid sums oi money herein reierred to be not promptly snd fully paid with• ~ ` out demand or notice, or (c) in t6e event that each and every the atipulations, agreements, oonditiona. and covenants of aaid note and thia mortgage. are not duly. promptly. s~nd fully performed; then in ; either or any such eveat, the aaid aggregate sum mentioned ia said note then remaining unp~id. with ~ intereat accrued to that time, and all moneya secw ed hereby, shall becwme due and payable forthwith. ; or thereafter, at the option of said mortgagee, as fuAy and completely as if all oi the aaid sums oi money ~ were orginslly stipulated to be paid on auch day, anything in aaid note or in this mortgage to the oontrary = notwithstanding; and thereupon or thereafter, at the option of said mortgagee. without notice or demand. E anit at law or in equity, may be prosecuted as if all moneya secured hereby had matured prior to ita insti- ~ tution. The mortgag¢e may foreclose thia mortgag~, aa to the amount so declared due andpayable, and ~ the said premisea shall be aold to satisfy and pay the same together with coats, expenaes, and albwances. ~ In caae oi partisl forecloaure of thia mortgage, the mortgaged premiees ahall be eold subje~t to the oon- tinuing lien oi thia mortgage for the amount of the debt not then due and unpaid. In auch case the pro- ~ viaions of this paragraph may agaiw be availed of thereafter iro~n time to time by the mortgag~ee. 11. That the mortgagor wiil give immediats notice by mail to the mortg~tgee of any oonveyanee, ~ trauafer, or chang~e of ownership oi the premisea. 12. That no w~iver o! any cavezu~nt herein or o! the oblig~?tion secured hereby. ahall at aay t,i~ae ~ there~iter be heW to be a waiver oi the terms hereoi or ot the note secured heneby. i - . 8~ ~ s~::x 3~9 ~ - ~ _ _ - - _