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Home My WebLink About2664 w ~.w~_•..r~_~-+y.~~G . ' - _ _ . • '_T' _ ' =fi~`.' . - - s .aa~.~~~r - ' - riY - and insnranos premium~. as the ca~e m~r be~ _attch eocoea shali b~ aredit~d by the mort$i~ee ot~ ~ybaequent p~nnaab to bs made b~r the mosk~a~or. it, however. the monthty payments m~ie. by the' nsortgagor ~ nnder (b) a~ para~raph S preoedins shall not b~ wAlcieat to p~1? d reab„ tues ~tnd aaaessments and inaur~nce~p ums, as the caae m~y be. when the ts~me beoo~ne due snd payable. then the mortgagor ahall p~iyi to the mort,~a~es any amount neceseary to auke np the deflciency~ on or before the dats when psyment o! auch ~rouad reats, tases, ~esessm~ta, or inauraaoe preaniuma ahall be due. If at any time the mort,~~or shall tender to the mortasgee in aucord~u?cs with t~?e Provisions oi the note secured hereby. f~llp~ym ent oi the entire indebtedneaa represeuted thereby. the mort,~~g~ee shall. in com- ~ pntin~ the amonnt of auch indebtednees. credit to the aooount oi the mort,~aQor aUps~yments made under the provisions of a) oi p~uragraph 2 hereoi which the mo~ h~s not beoome obligated to pay to the Fedenl Honain~ oner and ~a,y b~l~nce n~ in e iunda aocumulat~ed under the pmvisions of (b) oi said 2. I! thei~e ahall be a defanlr~ t wder any oi the provisions oi this mortgage, re- s n l t i n~ i n a p l i u~ c s~ a l e ~of the p r e m i a e s oovered hereb y s or if the nwrt,~ag~ee aoquires the pmperty other- wiae aiter default. the mortg~ee ahall apply, at the time of the oomznenoe~aent of auch proc e e c~ ings or at the time the property ia othera~ae aequired, the b~lanos then in the i~nda accumulated under (b) oiparagraph 2 p as a credit ~~gsinat the amountr~f~psl then remaining unpaid under s~id note and ahall properr~uat anY P~,Ymenta a?hict? ahall h~?ve made nnder (a) of said paragraph. 4. Thut he will p~y ~11 tazes, asseeaments, a+ater i's?tes, and other goveramental or municipal charges~ 1~nes, or impositions. for which p~+ovision has not been made hereinbefore, and in default thereof the mort- gdgee ma~y pay the aame; snd that he wili promptU? deliver the o~ci~l receipts therefor to the ~ortgagee. b. Thst he will permik commit, or auSer no waste, impairment~ or deteriontion of said property or say part thereot; and in the event oi the failur~e o! the mort~?a~or to keep the buildinga on said premises and thaee to be erected on said premiaes, or improvements thereon. in good repair. the mortgagee may make such repaira as in its discretion it may deem neceaeary for the proper preservation thereof. and the i full amount of each and every auch p~yment ahall be immediatel~y due and pa,yable. and ahall be secured ; ~ by the lien of this mortgag~e; y 6. Thst he will pay all and sineular the costa, char~ges~ and espensed, inclnding reasonable lawyer'a ~ i iees~ and coets of abstracts oi title~ incurred or p~d at any ti~nne by the mort~a~e~ because of the iailure ; on the p~rt oi the mortgagor pro~nptJy and iuilly to perform the agreementa u~d covenants of said pmm- ~ iaaOry note ~nd this mortga~e. and said c~osts, char~~, and ~cpenaes ahill be immediately due and pay- j ~ sble and shaU be sec~red by tde lien of thia mortgage. • T1~at he will kee~ the improvements now euisting or hereatter erected on the mortgaged P~PertY. i insnred asm~y be requued from time to tirae by the mo loss by Rre and other hazards, ; casualties, snd oontingencies in auch smounta and for s~ o~may be required by mortgagee. ; and wiU p~r~ pzamptly. when du~e~ any prezniuma on such insuranoe !or payment of which provtsion haa ~ , not been` m~cde hereinbeiore. All insurs~nce ahall be carried in oomp~u ea apprnved by mortgagee and the policies and renewals ther~of shall be held by mortgagee and hsve attached thereto losa payable ' • clauses in favor. oi and in form aeoeptable to tt?e mortgagee. In event oi loaa he will give immediate ; notioe by m~il to mortgagee. and mortga~ee msy make proof oi lo~s if not made pmmptly by mortgagor. ; aad eact~ insaranoe compsny concen?ed is herebq authorized and directed tfl make payment for auch ~ lo~s~iiirect~g to mo uistead oi to mortgsBor snd mortgagee jointly, and the insurance proceeds, or 1 c~~rp~ thereoi, ~applied by mortgsg~ee at its option either to the reduction of the indebtednesa ' hereby secnred or to the reatoration or repair of the prnperty dama8ed. In event of foreclosure of this ' ~ mortgag~e or other transfer of title to the mortgaged property in extiagviahment oi the indebtedness secnred hereby, all right~ title. and intereet of the mortga,g~or in and tfl any inaursuce policies then in force ahall psae to thf purc6aser or grantce. 8. That the mortgagee may. at any time pending a suit upon this mortgage. apply to the cwurt hav- ing jnrisdiction thereo! for the appointment of s receiver, and such oonrt ahall iorthwith appoint a receiver of the premises~covered.hereby sll and aingular. including all snd aiagular the income~ profits, isauea, and revennes from whatever aouroe derived, each and every of which, it being expressly under- atood. is hereby mortgag~ed as ii speciticslly aet lorth and deacribed in the granting and habendum clausea hereof, and anch receiver ahaU hsve all the brosd and etfective innctions and powera in anywise entruated by s conrt to a receiver. and auch appointment ahall be made by such court as an admitted ~ eqnity and a mattsr of abeolute right to aaid mortgagee. and without reference to the adequacy or inad- ' equacy of the value oi the pmperty mortgaged or to the solveacy or insolvency of said mortgagnr or the defendanta, and that such renta, prolits. in~oame. issues, and revenuea shall be applied by such receiver aooo~ to the lien oi this mortgage snd the practiee of such eourk In t6e event of any default an the part of e mortgagor hereunderr the mortgagor agrees to pay to the mortgagee on demand as a reason- able monthly rental for the prem~ an amount at least equivalent to one-twelfth (3is) of the aggregate of the t~velve monthly installmenta psyable in the then current year plus the actual amount of the annual ~ ta:~ saeeaaments, water rat~, and insurance premiuma for sncb year not covered by the aforesaid E mont~ly p~yments. E 9. The mortgag?or further covenanta that should this mortgage and the note secured hereby not be eligible for insurance under the National Housing Act within gp de from the date hereof (written statement of any o~cer of the Federal Houaing Administraho~or authorized ag~ent of the ' Federal Housing Commiasioner dated subsequent to the aforeseid time from the date of this ` mortgage, declining to inaure said note and this mortgage, being deemed conclusive proof of such in- ~ eligibility), the mortgagee or the holder of the note may, at its option, declare all awns secured hereby immediately due and payable. ` 10. That (a) in the event of any breach of thia mortgage or default on the part of the mortgagor, or (b) in the event that any of said suma of money herein referred to be not promptly and fully paid ~vith- out demand or notice, or (e) in the event that each and every the atipulations, agreements, conditions, and covenants of said note and this mortgage, are not duly. promptly, arid fully performed; then in ; ~ either or any such event, the esid aggregate sum mentioned in said note then remaining unpaid, with E interest accrued to that tirae, and all moneya secured hereby, shall beoome due and payable forthwith, ~ or thereafter, at the option of,said mortg~gee, as iully and completely aa if all of the said sums of money were orginally stipulated to be paid on such day. aqything in aaid note or in thia mortgage to the contrary notwithat~nding; and thereupon or thereafter. at the option of said mortgagee, without notice or demand, ` suit at law or in equity. may be prasecuted sa if all moneya secured hereby had matured prior to its insti- k tution. The mortgagee may foreclo~e thia mortgag~e, as to the amount so declared due and payable. and ~ the said premises shaU be sold to aatisfy and pay the same together with oosta. expenses. and allo«•ar{ces. ` In caae of partial foreclosure of thia mortgage, the raortgag~ed premiaea ahall be sold subject to the con- ~ tinuing lien of this mortgage for the ~mount of the debt not then due and unpaid. In such case the pro- ~ viaiona of this paragraph may again be availed o! thereaiter from time to time by the mortgagee. ~ ~ il. That the mortgagor ariA give immediate notice by mail to the mortgag~ee of any conveyance, - r transfer. or change of ownerahip of the premisea. ~ 12. That no waiver oi any covenant herein or of the obligation secured hereby ahall at any time thereaiter be held to be a wxiver of the term.a hereof or of the note secured hereby. € O.R~ ~ ` ~ . e~:~ 87 ~fi3 ~ _ _