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~ ~nd in~usaa~a pai+emium~ as the ca~s au~ axh ea~oas sh~U bs credited b~r the ~pcrtt'~ea on ~wbM4wnt ~
pymenb to b~ m~de b~r the mort,~a~or.~. I~ow~ever. the mo~nthb/ paymeab mude by the mort~ot - ~
ander (b) a~ parasraph S pseoedins abaU no! M af5cient tio p~yr reab. ta~cea and asaeasmeab ;
and insuranospr~i~m~, as the ca~s.nW ba. whm the wQS sh~beoome dne and p~,ysble~ theo the .
. mort,~or ahall p~1? to the ~es any amonnt neoes~ary t~ mate np t6e de8cienqr. on or betore the 1
d~?te when p~ymeat os aich 1Abund rent~, t~ces. a~eessmaz~b. or inanranoe Psmniums slu~U be due. Ii
at aay time the mort~a~or eh~11 tender to ths mort~es in aooordsnos with the provisions oi tt?e note '
aecured hereby. fullp~?m
ent oi the entirs indebtedaees repre~ented thereby~ the morti~ee sha11. in com- ~
pntia~ the amount o! snch indebtednees, credit to the s~oount ai the nart,~a~or aU~rm
ents made under
the provisiona oi s) oi par~raph S hereoi which t6e m~~~e h~s not beoo~ne ab~~t8d to pay to the ~
~Ieral HousinQ and aay baLnoe r~~a~ininaQ in t~?e tunds aocnmWated under the provisions ;
o! (b) ~ a~id~~~ra~nph S. Ii there ahall be s defsult nnder an~y of the proviaiwis oi this mort~~e re- ;
• sultin~ in a p lic sale o! the premises o~vered hereby or i! the mortgagee ui~s the propeMy ot~er- i
1t a
~ wiee atber detault. the mo t~a~ee shall aPPUr. at the t~me oi the oommeaceme~ oi such p:~ooe~.~du'~a or at
the t~me the pro~y ia oth~erw3se aaluired, the bt~l~noe then n~ in the innda aocumulated under ~
(b oipsr~ra
ph 2_ as a credit aQaiast the aaaunt~ i~ ipal then remainir~ unpaid under
•~d note and shalt pru!
p~uat aiy? P~ymenb which shall have ~ made under (a) .oi said puagraph. . .
4. That he will p~y all tszes, aesesmnenb, ~vater ntes. and other ~overan?ental or municiPsl chsu~ges, t
. llnes~ or impositions, ior which proviaion has not been made hereinbetore. and in dei~ult thereoi the mort-
s~ee m~y p~y the s~me; and t6at he will psamptlt deliver the officisl reoeipts theretor to the mortgaQee. i
~ 6. T6at he ~vill permit~ cammit, or sn8er no ~vast~ inap~irmeat, or deteriontion of aaid property, or -
' aRy thereot; and in the event of t6e isilnre o~ t6e mort~s~or to teep the buildings on said premises ;
and ~ose to be erected on ssid premises, or improvements t~iereon, in ~ood reps~r. the mortgagee ~r'
~ malr,e such repsirs as in ita discretion it m~y deem neceasary ior the proper preservation thereof. and the ~
~ ~ fuII amonnt oi ea~ch snd every auch pgyment ahaU be immediately due and pqyable, ~nd ahsU be aecured '
~ by the lien af this mortga~. . •
~ 6. T'hst he wiU psy aU and aingular the oosta. ahsr~es. and esPanses. inclu~diu~ re~sonable lawyer's
. !ees~ and oosb oi abstra~cta oi titl~ incun+ed or patd st sny tiaae by the mort~~ becanse ot the failure
1 • on the p~ut oi the mortgagor promPtlY and i to pertorm the ~reemente ~nd cmreniutts oi aaid prona-.
~ isso~? n~ote ~u?d this ~
d~
a~'a
m°°sta„o~~' and eacpenaes aiuU be immediste~y due snd p~~ ~
; ~ sb~ and shall be secured~~ rt~~e. •
a
~ That he wiU keep th~e improvements xaw ezist~ or herestter erected ~ the mortBaBed P~P~Y.
insnred as m~y be reqnired iran time to time by the moutgAgee ~ainst laes by Rre and other hazards.
~ psw~ltiee, and oontin~eaciea in auch amounts snd for a ch pertods as may be required by mortgagee.
~ snd wi11 pa,yp pt~,y~ when du~e~ any preminma on auch insuranoe ior ent of which provlsion haa
not been made
hereinbefore. All insur~unoe shall be carried in can - es approved by mortgagee and
~ the policiea and renewals thereof ahaD be held by mortg~ee and ve attached thereto loas psyable
clanses in iavor ai snd in iorm aooeptable to the mort,~agee. Ia event oi lo~s he wiU give vnmediste
` ~ noHa by mail to mortgagee. and mortg~ee may make prooi oi loas ii not made promptly by mortSag~or.
; r and_ea~ch insnr~noe oo~npsny conccraed ~s hereby authorized and direated to mage pa,yment for auch 'i
loss directly to ma~ instead oi to mortgaSor sn d morlt~a~ee 3oin
t
l
y~ an
d t
he insurance p
r
o o e e
d s, or
~ ~ a
a
y p~
r t thereof. ma,y applied by mortgag~ee at its option eit-her to the reduction of the indebtedneas
~ h
e
r
P
by secured or to the restoration or repair of the property dam~ed. In event of foreclosure of this '
: = mortgsg~e or other transfer of title to the mortgaged prnpert,y in extinguishment of the indebtedness
` eectu~ed hereb , all ' k title, aad interest of t6e mort,~agor i
n aa
d to any insuru~ce po
liciea t
hen in force
shall~pass to ~e or grantee.
~ - 8. That the mortgagee ms~?. st soj? tin?e pending a.suit upon this mortgage, apply to the court hsv-
~ ing jnriadiction thereoi !or the appointment oi s reoe~ver, snd such cw~rt alu~ll forthwith appoint -s
; receiver a~ the premises omrered hereby sll ~d s ular. includin~ aU snd s~'ng~lar the income. P~~,
' iasues, and revennes irom whstever souroe derive~ ~ch sad e~ve~ry of whicb, it bein8 exPreaalY under-
~ atoo~d. is hereby mortgaged as if apecitkaUy aet iorth and described in the ~rantiag ~nd hsbendum clauses
' bereoi, aad snch. reoeiver shall have all 'the broad and eHective innctions and ~owers in anywise .
~ entr~sted by a court to a receiver. and anch appointment shsll be made by such.oourt a~ an admitted
eqnity and a matter of a~bs~lute right to add mortgagee. snd withont reierenoe to the adeq~acy or inad-
~ • eqnacy of the valne of the property mortgaged or to t6e solvency or insolvency oi ssid mortgs~g~or or the`
' detendsnta, snd thAt such renta. Prorit0. incoane, issues, snd rgvennea aivU be applied by such receiver
sooo~to the lien of this mort,~~ge snd the practioe oi auch oourk In the event of aay default on the
~ psrt oi e mo~ r hereunder the mortQsg~or a~rees to pay to the morlt~a~ee on `tlemand as s reaaon-
able month~y rentaf for the_ praa~sea an smount st least eqniv~?t to one-tvrelfth (3i:) oi the aggregate
oi the twelve monthly installraents pqyable in the then current year plus the utwl amo~u?t oi the annwl -
~ ta~ces saseeameats, wstsr rstes, and insuranoe premiums for wch yesr not oovered by the aforesaid
` mant~r payme~ta.
~ 9. The mortgag~or further covenanta ttwt ahould this mortgag~e and the note aecw~ed hereby not be
; eligible for insnrance under the National Houaing Act within 90 day~ from the date fiereof
t ' ~ (written statement oi any ogicer of the Federal Houaing Adminiatration or autlwrized ag~eat oi the
~ Federal Housing Commiasioner dated subsequent to the aforeteid time irom the date of this
c mortgage, declining to insure aaid note and thia mortgag~e, being deemed oonclusive proof of such io-
i eligibility). the ~urtgsgee or the holder of the note may, at ita option, declare all suma secured hereby
~ immediately due and psyable.
~ 10. That (a) in the event oi any breach oi this aw or detault on the psrt oi the mort~a~r~ or
(b) in the event that say of said suma of money herein ri~erred to be not promptly and fulty paid with-
out demand or notice, or (c) in the event that e~h snd every the stipuLtiona, ~g~ements, conditions.
and covenants of aaid note and this mortgag~e. ~re not dn?~y, promptly. snd fuUy pertornned; then in
~ • either or any such event, the sa?id aggregate sum mentioned in asid note then reinaining anpaid, wit6
~ interest accrued to tlist time, snd all moneya aecured hereby. shsll beoonae due and p~yable forthwith,
~ or thereafter, at the option oi anid mortgag~ee. a~ inUy and oompletely as ii All oi the asid suma of money
; were orginallx stipnlated to be paid on auch dsy, saything in said note or in this mortga~e to the oontrary
notwithatandwg; und ther~.wpon or thereatter, at the aptaon oi a~id mortgag~ee, without notioe or demand,
suit st law or in equitq, may be prasecnted as if sU nwneys secwred he~reby hsd mstnred prior to ib insti-
` ~ tation. The mortga8ee mas? foreclaee this mo aa to the ana~nt s~ declared due andp~yable, and
; the said premises ahaU be eold to sa
~tiafy snd pay~e
same together with oosta. espensea. xnd albwanom.
In case oi par~l forecbsnre oi this nart~e. tbe mort~d ~aisea ehsll be soW snbject to the eon-
; tinuin~ li~ oi tbis aart~~e for the smount oi the debt not ttien due snd unpaid. In wch case tlte pro-
t viaions oi this ParaQraPh msj? s,~ain be availcd oi t6erestter irom time to tlme by the nartgsgee.
F,
~ 11. That the nartas~or wjU ~ive immediate notioe by msil to the mortgagee oi sny oonveyanoe,
~ transfer. or c~n~e oi owaership oi the premi~es.
t 12. ~ut no ~raiver ot iu?y oovesuat herela or of the obli~ation aecured . hereby ahuU at any ti~ae
- thereaiter be l~eld to be a waiver of the tera~s bereoi or oi tbe note secur~ed hereby. ,
~ ; . R.
~ . t ~a: ~ Sfi 33~