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Home My WebLink About2290 . . ~ . and insuranos pre~aiu~o~s. ~ the c~es nuV bs~ _snch exc~s ah~ll be credited by the mo~it~ee~oa sabsequ~n~ p~e~yments to be made by the mort,~a~or. i!, however. the monthly piU?ments in~e by the mortgaSor ander (b) o~ F~?ra~'i?Ph 8 Preoedit~ ahall not b~ wlDciant to p~~y~oun d renb. tauces snd asse~sments snd insaranc~e premiums~ as the caae m~yr be. whea the s.~me alhW beoome due and p~y~ble then the mortg~or shAU p~y to the mort~a~es aay ~monnt neoeaeary to malce up the deflcienqr. oa or ~efore the ~ ~ dste when p~?ment o! such aroua~T rentar taues. aasessments. or insuranoe premiums sh~ll be due. If " at aay time the mort,~a~oar ahaU tender to tha naort,g~g~ee in aooordanca with the proviaions o! the Aote ~ aecured hereby. iqllp~ym eat of the ent~r~e indebtednees represented thereby. the mortQa~ee shall. in can- atin~ the amount oi a~ indebtednees. credit to the aooount of the mortgsgor all enta made under ptA . the proviaiona oi a) oi psraQrsph 8 here~! which the mort,~agee haa not bccoane ligated to pay to the Federal Hou~ing oner and auy balan~e in the iwads ucumulated under the proviaions . e u~ o! (b) oi a~id~r~r ph 2 Ii there ahall be a defaWr~under any oi the provisions oi this mortgage re- ~uttin~ in a p liub c aslae of the premises oovered hereby or ii the mortgagee aoquires the property ot~er- wise after deisult, the mo ~ee al?aIl spply, at the t~me oi the oammencement oi auch proceediAgs or at ~ ~ the time tiie pro~y ia oth~a~i~4ise aoquired, the balance then n~ in the funda socumulated under . . (b) oip~ragrap~t 8 p aa a credit a8aiast the amount ui~ ipal then remaininQ unpaid under asid note snd ahall pro~uat sqy pq~?menta ~vhich ahaU have ~ made under (a) oi ssid paragraph. ~ 4. That he wiU p~y aQ tazea, asseeaments, water rates, ~nd ot6er ~overnmental or muuiciPal churSes. 8nes, or impoaitions. for which proviaion lus not been made hereinbefore, and iu detault thereof the morE- ~agee m~y p~y the aame; and thmt he wiU pro~nptb? deliver the official receipts therefor to the mortgagee. 6. Tlut he will permit~ oommit~ or suffer no waste. impsirment~ or deteriorstion oi asid ~mperty or and those~to b~e i'~ on eeaia p t ore~nis~ee; o~im ro e~men~ tfier~.w t in~g~pood re~, the mo 1rtS 8~ ~?~4Y ~ maice such repaira as in its discretion it myr dee~m neo~sary for the proper preservation thereof, and the lnll amount o! ea~ch and every aach payment ahall be unmedistely due and p~Urable. and ehaU be secwred : ~ by the lien of this mortgage, r ' - 6. Ttu?t he wIU psy all and singular the coets, chsrges. and expenses. inclu reasonable lsw~rer'a iees, and oosts oi abatracts of title~ cun~ed or psid at any time by the mort,~a g~~ewe of the failure i on the p~?tt o! the mortgagor pramptb? and i ~to perform the agreements and oovenauta of said prom- ~ issory note snd this mo and asid oaats,~~C:tiatHes. and espenses ahall be immediately due and pa~y- . _ able and ah~U be secnred by~e lien of this mor~g~ge. i• ~ TLat he will ke~aF the improvementd now existing or hern.after erected on the mort8~8^~ P~P~Y. ~ inswred ~sm~y be requu~ed irom time to time by the mo sgsiast loss by flre and other hazards. - i casnalties, and contingencies in auch amounta and for su~ ads ss may be required by mortgagee, ~ • snd will P4Ypromptly, when due. any premiuma on ~auch insuraaoe for ~wyment of which provisiop haa not been made hereinbefore. All insurance shaU be carried in oo~npan~es ~pproved by mortgagee and - ~ the policies and renewals thereof st~all be held by mortgagee and have attached thereto loes payable clauaes in isvor of and in fona aocept~ble tfl the mortgmgee. In eve~t oi loas he will give imme~iiate ~ ~ notioe by mail to mortgagee, and morkg~ ma1? malce proof of loss if not made prnmptly by mortgagor. : M ~ and each inauranoe company conoerued hereby authosized and directed to make payment for auch loss directly to mortgag~ee instead oi to mortgagor and mortgagee jointly, and the insurance proceeda. or = ahqy p~art thereof, may be applied by mortgag~ee at its option either to the reduction of the indebtednesa ~ ereby secured or to the restoration or repaiir oi the pmperty damag~ed. In event of foreclosure of this~> mortgag~e or other trsnafer of title to t~e mortgaged property ip extinguiahment of the indebtedne8a aecured hereby, aU right, title, and intereat of the mortQagor in and to aqy insurance golicies then in for~e ~ shsll pass to the pur~haser or grantee. ~ 8. Thst the mortgagee may, at aqy time peuding s suit upon this mortgage, apply to the court hav- ing ~uriadiction'thereof for the appointment oi a receiver. and such oourt ahsU iorthwith appoint a ' ' reoPaver of the premises oovered hereby aU and ain~ular. including all and aingular the inoome. pro8ts. ~ issues, snd revennee from whatever sonroe derived, esch and every of which~ it being e~cpreasty under- stood, is hereby mortgaged as if apeciRcally set lorth and deecribed in the granting snd habendum cla~aes hereof and anct? reoeiver ahall have sll the bro~d and eHective fnnctions and powera in anywiae entn~s~ed by s court to a receiver, and such sppointment ahsll be made by such court as ~n admitted eqnity and s matter of abeolute right to esid mortgagee, and withont reference to the adequacy or inad- equacy of the valne of the pmperty mortgaged or to the aolvency or insolvency of aaid raortgagor or the deiendaata, and that such rents, proRts, inco~ne, issuea, snd rgveaues ahaU be applied by auch reoeiver acoo~ to the lien of this mortgage and the practice of such courk In the event oi any defanlt on the i part of e mortgagor hereander! the mortgagor agreea to p~r to the mortgagee on demand aa s reaaon- ' able monthly r~ntal for the pr~n~ an amount at least equivalent to one-twelfth (~s) of the aggregate oi the tivelve monthly instaUments p~aysble in the then curreut yesr plus the actnal amount of the annual ta~cea aaseaaments, water ratea, snd insuranoe premiums ior such year not cavered by the siforeaaid ? mont~ly psyments. `r, 8. The mortgagoY further covenauts that ahould thia mortgage and the note secured hereby not be eligible for insuranoe under the National Housing Act within 30 dApra from the date hereaf (written statement of any officer of the Feders~l ~iousing Adminiatration or authorized ag~ent of the Federal Housing Commiasioner dated subseqnent to the aforeeaid ~e irom tbe date of this mortgage, declining to insure said note swd thia mortgage, being de~med conclusive proof of such in ; eligibility). the mortgag~ee or the holder o~ the note may. at ita option, declsr~e all aums secured hereby immediately due and payable. . 10. That (a) in the event oi any bresch of tfiis mort~ge or default on the pxrt of the mo~g~ r, or (6) in the event that any of said sums of money herein reierred to be not promptly and fully pai~ withw ~ out demand or notice, or (e) in the event that each and every the stipalstions, agr~nta. conditions, and covenants of said note and this mortgag~, are not duly, promptly, and fully perfornied; then ia either or any auch event, the said aggreguts sum mentioned in said uote then remaining unpaid. with ~ intereat aocrued to that time. and all n~uneya securpd hereby, st~all beoome due and psyable lorthwith. ~ or thereafter. at the option o! said mortgag~ee. as fuAy and oompletely sa ii ail of the said aums of money ~ were orginally atipulated to be paid on auch dsy, anything in said note or in thia mortgage to the contrary notwithatand'wg; And thereupon or thereaiter. at the option of eaid mortgag~ee, without notice or demand, ~ auit at law or in equity, may be pm~ecuted as if ull moneya eecur~d hereby had matured prior to its insti- tution. The mortgag~ee may forecloae thia nartga~e, as to the amount so declared due andpayable. and ~ the aaid premises shall be aold to aatisfy and pay the aame together with c~ts, expenaes. and albwances. ; In caee of partial foreclosure of this nwrtgage, the mortgaged premisea ahall be sold subject to the eon- ~ tinuing liea of this mortgag~e !or the amonnt oi the debt not then duie and unpaid. In auch case the pro- ~ ~ visions of tbia paragraph may again be availed oi thereafter from time to time by the mortgag~ee. ~ 11. That the mortgag~or will give inunediste notice bq mail to the mortgagee of any conveyanc~ E tranafer, or change o! ownerat?ip of the premiaes. ~ 12 That no wsiver of ~a,y covenant herein or oi the obli~ion aecured hereby ahsll at any tin~e ~ thereatter be held to be a wsiver of the terma hereoi or oi the note aecured hereby. ~ ~ ~ - ~ e~qx 8fi ~ 489 ~ ~ _ _ ~