The URL can be used to link to this page

Home My WebLink About1842 ~ , ' ~~i ~ ; ' snd inaaran~e preminms, s~ the case m~r be~ _sach exoeea ahaU be areditsc~ by the mortgag~ee on aubaequeut ~ p~?menta b~ be made by the mort~ag~or. I!; however, the mont~h~y p~aents made by the mortg~go~ c tmder (b) od paragrsPh $ Pr~c~din8 ahaD not be sufficisnt bo psy d xenta, ts~ces a~nd aaaemaments ~ and inswranc~e premin~o~ sa the caae may be, 'vhen the same beoome dus and paysble~ th~en the mortgagor ahall p~y to the mortgag~ee a~y amount neceaaary bo make up the deflciency, on or before the - date when payment of anch ground reats~ taxee, aa~eeameata, or iaauranos premiuma ahall be due. Ii at any time the morkgagor ahaU tend8r to the mortgagee in ~ooordance with the proviaiona oi the nata secured hereby, fullp~m ent of the entire indebt.edness reprc+8entsd thereby, the martgagee ahall~ in com puting the amount of such indebtedneea, cared~it to the acoonnt oi the mort,gag^or sllpa~m enta made under the provisioua oi (a) oi paragraph 2 hereof which the mot~~ has not beoome obligated to p~U? to the Federal Houaing Commiasioner and any balance grtn t~ie i~nds accumulated under the prnviaions oi (b) of said 2. If there shall be a defaul~~der ~ny oi the proviaiona of this mortgage ~re- aulting in a p lic sale oi the premisea oovered hereby or if the mortgagee soquir~ the pmpcrty ot~er ~ . , wiae afber default, the mortga,~~ee shall apply, at the t~me of the oammenoement of auch proceedinga or at the time the pmperb? is otherwise acquired, the batanoe then remainin~ ia the fanda accumulated under (b) of ph 2 p sa a credit against the amount oi principat then remaiaiug unpaid under . said note~shalt PmP~r ~Y a4lust aa3? Paymenta which ahall ~iave b0ea made nnder (a) of aaid paragraph. ~ That he will p~,y aII taiea, assesamet~ta, water rat~, and other governmental or municipsI charges, Snes, or impoai~ions, for which provi~ion haa nat been made hersinbefore, and in default thereof the m rt~ gagee a~? pay the aame; and thst he wiU prwnptJy deliver the official reoeipts therefor Lo ~he mor~tga~ee, . 5. That he wiD pernait, commit, or suffer ao waat~ impairment~ or deterioration of aaid propert~y or 6 u~y part thereot; and in the event of the iailure of t.~?e mort~ag~or to keep the buildia~s on aaid premiaea: ~ and those to be erected on aaid pre~nisee. or impravementa thereon, in good repair~ the mortgngee m~q ' mage such repaira aa in its diacretion it m~r deem neoesaary for the proper pr~ervation thereof. and the . fnll amonnt oi each and every anch p~yment ahall be immediat~el,y due and p~rable, and ahall be secured by the lien of thia mortgag~. ~ 6. That he will pay all and aiagvlar the coats, charges, snd espenses, inclu reaaonable lawyrer'a feee, snd costa o! abetracts of title, inc~rred or paid at an~y time by the mor~ga~ee~use of the failnre on the part of the mort,gagror promptly and fnlly ta perform the agr~nenta end oo~renanta of aaid mm- i ~ issory note and thia mo age, and said coeta, charg~e~, and espenses a~ll be immediately due an pay- able and ahall be aecnt~ed b~~y the liea of thia mortgage. 7. That he wiU hee~? the improveraents now eriating or hereafter erect¢d on th~ mortgaged Property. . inanred as may be requu~ed iraan time to time by the mo~~ ~in~ Icas by fire and other hazarda~ casualtie~. and contingencies ia anch amounta and for aacli periocla as ma~y be required by mo and will paq promptly, when due. any preiniume on auch insuranoe for ~n~nt o# which pro~riaion not been made hereinbe~ore. AIl inaurance shall be carried ia o~mpa~ues lpproved by mortgag?ee and the policies and renewals thereof shall be held by mortgag~ee and have attached thereto loas payable clauses in favor of and in form aooeptab2e to the mortgag+ee. In event of loaa he wiU give immediate notice b mail ~o mortgagee. and mortga~ee may make proof of loaa if not made promptly by mortgag~or, and ~ inanrance oompany concerned ~a here.by authorized and directed ta make payment for snch • lves directly to mortgagee instead of to mortgagor and morltgagee jointly, and the inaurance proceeda, or anyp~ therEOf, may be applied by mortgagee at ita option either to the reduction of the indebtedneaa ~ he~reby secured or to the restoration or repair of tize prnperty damag~ed. In event of foreclo~ure of thia mortgage or other transfer of title to the mortgaged property in ~xtinguiahment of the indebtednesa - secured hereb , all right, tit~e, snd int~er~t of the mortgag~or in and Lo aqy insurance policiea then in foroe ahall pass to ~e purchaser or grantee. • 8. That the mortgagee may, at any tirae pendiag a auit npon this mortgage, spply to the court h~ev : ing ~uriadiction thereof for ~he appointment of a receiver; and anch oonrt ahall forthwith appoint s reoeiver of the premises covered hereby all and aingular, iacindiag atl and singular the inoome, prnfits, iasues, and revenuea fram whatever aource derived, ~ch and every of which, it being expressIy nnder- - atood. ia hereby mor#gaged as if apeci5cally aet forth and describe~i in the granting and habendum clauses hereof, and anch receiver ahall have all the broad and effective fanctiw~s and powera in anywiae - entruated by a co~rt ~o a reoeiver, and such appointment shall be made by such court aa sn admitted equity and a mattPx of abaolute right to aaid morEgag~ee, and without reference to the adequacy or inad- eqnacy of the valne of the pmperty mortgaged or to .the aelveacy or inaolvencq of said mortgag~nr or the defendsnts, and that such rents~ proAts, income, iaaues, and revenaes aball be applied by such receiver aeoo~ to the lien of thia mortgage and the pra~tice of anch oourk In the event of any default on the part o! e mortgag~or hereunder; the mortga~ agreea tfl pa,y to the mortgagee oA demand as a reason able mont~ily rental for the prem~aes an a~?onn at least equivaleat tfl one-twelfth of ~tee aggregate ~ of the twelve month~r inatallmenta payable in the then current year plus the actual amount of the'annuat tauea aaaesaments, water ra~, and inaaranoe premiums tor auch year not eovered by the aforesaid mont~ily payments. 9. The mortgagor further covenants that should t~ia mort and the note secured hereby? not be . eIig?ible for insurance under the National Housing Act witLin h~tty daYs frnm the date fiereof (written atat~ement of any officer of the Federal Hoasing Administration or authorized agent of the ~ Federal Housing Commissioner dated subsequent to the thlrty d g time fmm the date of this mortgage, declining to inaure said note and this mortgage, being c~e~med eonclusive proof of such in- - eligibility), the mortgagee or the holder of the note may, at its option. declare all sum~ secured hereby immediately due and payable. 10. That (a) in the event of any breach of this mortgage or default on the part of the mortgag~or, or (b) in the event that any of said sums of money herein referred to be not prnmptlq and fully paid with- out demand or uotice, or (c) in the event that each and every the stipulationa, agreements, oonditions, and covenanta of said not~e and this mortgage, are not du~,y, promptty, and fally performed; then in either ar any such event, the said aggregate sum mentioned in said note then remaining unpaid, with ~ interest aocrued to that time, and all moneys secured hereby, ahall be~:ome due and payable forthwith, or thereafter, at the option of said mortgagee, as fully and completely as if all of the said sums of money were orginally atipulated to be paid on such day, anything in said note or in thia mortgage Lo the contrary natwithstanding; and thereupon or thereafter, at the option of said mortgagee. without notioe or demand, suit at law or in equity, may be pro~ecnted as if a11 moneqs secured hereby bad matured prior to its inati- tution. The mortgagee may forecIose this mox~tgag~e. as to the amount so declared due andpayable, aad the said premises aha11 be ~old ta satisfy and pay the aame together with casts, expenses, and allowancea. ~ In case of partial foreclosnre of this mortgage, the mortgaged premfae.a ahall be sold subject to the oan- bnuing lien of this mortgage for the amount oi the debt not then due and anpaid. In aach case the pro- visions of thia paragraph may again be availed of thereafter from time to time by the mortgagee. • 11. That the mortgag~or will g~ve immediate notice 6y mait to the mortgsgee of any conveyanoe, ~ tranafer, or change of ownership of the premises. I2 That no waiver oi reay coveaant herein or of the obligation aecured hereb~? ~iall at any tim,e ~ thereafter be held to be s waiver of the terms hereof or of the note secured hereby. ~ ~ . $D:N~