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Home My WebLink About0023 . _ u '.ie.~ , i„'1 _ . , ~ ; t. . ` an~ insnranoe premimna, aa the caae mai? be~auch euoeea ahall be credited by the mort,~a,~ee on wb~eqnent . { p~ymenta to be ~wde b~ the mort~s~or. . however. the monthly pqmeats made by th~ mort~~ ~ ~ onder (b) ai Par~saP~ $ Pr~din~ aZuII not be a~ciea! to pa~y~round renta. ta~~es aad aseesaine~at~ and inanranoe~inao~s~ as the caas m~1? be, wtieu the a~me ahall beoome dne aad p~yabl tLen the i mort~a8or slhaU pq~r to the mortgagee anY amonnt n~oeesat7 to m~&e up the deflcienp?. oa or~ore the . : date ~vhen p~yment o~ aach ~ronnd reats, tase~, aaeesameats, or insuranoe preminma ahaU be due. Ii ~ st any time the mort~a~or ahall tender t~ the mort~a~ee in ~ooordance wifh the provisions of the note f ' secwred hereby. fu11p~ym ant oi the ant~re iudebtedneas reprsseated thenby. tha mo~rt,~aQee shs~U, ia co~oa- • ~ puting the suonount of anch indebtednee~s, credit t~ the acoount oi the mortga~or sll eats m~de under the provisiona o~ a) oi pa~ragraph 8 hereoi which the mor~k~Ca~es has aat beoo~ne o~ted taP~l? to the : Feder~l Honaing ~onsr And any balance rmnainia~ in th~ i~mds ~ccumuLted under the proviaioni s oi (b) a~ aaid 2 Ii there shall be s defanlt nncTer an,y ai tha pr~vLdons, oi thia mo t~e rs-- : aniting in a p lic sate of the premiaes oov~ered hereby or ii the mortg~ee aoquires the prope~irtY ct~er~ ' wise after defsnlt, the mo sLall ~pP~?. at the t~me oi the oommencement oi such proceed'w~s or st the time the pro ia oth~e~i~~ ac~quired. the balaace the~ in tha lboda accumulated under a ~ired (b) of paragraph 2 pr~c~as a credit against t~?e amonnt of partn pal then remaining nnpaid nnder . ~ s s id nots sad sha11 pro p e t l y uat aay peymenta which ahaU he~ve been made under (a) ~ oi aaid p~sragraPh. ? 4. T~?t he will p~,y all t:uca; aaaeAaments, ~vs~ter nt~, ~nd other ~overament~J or mnnicipal chuges, ~ ~ 8nea, or impoaitiona. for which proviaion has not been made hereinbefore~ and in defanlt thereoi the mor~ ~ ~a8'ee m~? Pa~Y the a~ume: and that he will PTO~nPt~j? deliv8r the official receipts theretor to the morkg~ee. . 6.. That he will pezmit, oommit, or s~Her no ~ast~ impsirmen o~r deterloration oi said propeity, or ' any psurt thereof ; and in the event of the iai~ o~ t6e mart,g~g~r~~ ep tLere ~~e mo ia p~ ~ ' and thvee to be erected on said pr~, or pmvements thm~eo~, 8~ A~'. , c : make anch repaira sa in ita diacretion it m~? deem aeceaaary for the proper preservatioa thereof. at?d the ~ fbll amount o i e a a h an d every sn c h pay1nen t a h a ll b e i m m e d i a t e l y due a n d p a yab t a and ahall be aecared ' by the lien o! this mortgsg~. f ~ 6. That he will pay sll and aiug~ula~c the cASta, chsrges. and e~cpenaes, incivding iwsonabte lawy~ac's ~ iees, and oo~ta oi abatracta o~f titi~, incurred or paid at any time by the mort~a~ becaase of the lailnre ` on the pa~tt of the mort,gagor pro~?ptly and i to pertorm the a~reements snd caveaants ot said proza- ~ ~ isaory n~obe snd thia mortga~ and aaid ooats,~ c~, sad ea~penses eha11 be immedi~ts~,y due snd p~y- - ~ able and ahall be aecured by ti~e lien o~t this mortgage. - _ ~ € 4. ZLat he will k the improvementa now esisting or bereafter erectcd on the marl~ga~ed Pi'oP~Y, inanred as•ms~? be re+~ from time to time by the mo~~ loaa by flre and other h~zards. . casualtiea, and contingeacaes in such amonntg and ior anc~ perio~s as maj? be re~lyired bY m°ritg~ and wiIl paypr ptly, when duc, aRy premiwna on auch iasuraaee tor t of which proviston ~ not been mad her~inb~fore. All inaursnoe ahall be carried in oan ea approved by mortga~ee snd ~ ' the 'ciea and rene~?als thereof shall be held by mortgag~ee and ~ ed thereto losa payable clana~ea in favor of and in form soceptable to the morkgagee. In event af lo~s he will glve immediats nat~ioe by mail to mortgag~ee, and mortg~e may make proof ai lo~s if not mada pranpt]~by mortgagor. rtgag . - and ~h inanrance oamp~at~y coneerned is he~by authorized snd dire~ to make p~,yment for aneh loea di~c~ to n?ortga~ instead o! to mortgagor ~nd mo~~a~joint~y, an~ ~the insurance pm~da,~ or an~r thereof, may be apPlted by mortgagee at its option et to the redaction of the indebtedness h~secarecl or to the r~toration or repair of the roperty dama~ed. In ev~t of foreclosure oi ttiis ~ mortgag~e or othe~ ~an~er of tit~e to the mo~kgage~ prop~y in ishment of the indebtedneas aecured hereb~r. aD right, title, and intereet of the mortg~e~r in and to ~y policiea t6~a in ioroe . r ahall pasa to the pnrchaser or grantee. . . . ~ 8. That the mortgagce maY. at aay time pending s anit npan this mort,~~e. aAP1Y !o the co~rt hav- ' ing ~mrisdict~on thereoi ~or the appointrnent ai s receiver, anck,~pch oourt adall iorthwith appoint a reoe~ver e~ the pre~niaea om?ered hereby all and s , inclnding all snd siugnlar the iaoo~ae, Proflts. = . issues, and revennes ~from what.ever sonro~ deriv~each and every oi•~vhich, it being expreasly nnder- atood, is hereby mortga,g~ed ae if a~peciftcallY aet forth aad described in the gra~lting an~ habendmon clauses . hereof, and anch xeceiver shaU have all the broad and effective fanctions and povvera in anywisa entrusted by a cburt to a receivers and snch appointment ahall be made by such caurt as an admitted eqnity and a matter of absolute nght to aaid mortgagee. and withont rrSerenoe to the adequac3? or inad- eqnacy of the value o! the pmperty mort~aged or to the aolvenes? or insolvency oi aaid mortgagor or the „ de~fendante, and that auch renta, pro8ta, iacom~ iaenea~ abd r~.wennea ahall be sppUed by sach receiver - acco~to the lien of this mortgage and the prs~tioe oi such oonrt. In the event of aqy defanlt on the " part of e mortgagor hereunder the mortgagor agre~ to paY to the mor~tg~ee on demsnd as a reason- sble mont?ily rental for the remises an amount at least equivalent to one-twelfth (3i:) oi the aggregate of the tweive monffil,y instal~aaenta payable in the the~n current year ptns the act~l anwunt of t6e snnual . taz~ a~ments, watsr rates, and inauranoe premiuim~s for such year n~ oavered by the aioreeaid mont~? paymeats. . . . 9~ The mortgagor fnrther covenanta ths?t ahould this mortgage and the note secured hereby not be ~ eligible for insurance under the National Housing Act within A irom the dats fiereof (written statement oi any officer of the Federal Housing Admi ti~ or antLorized agent oi the Federal Houaing Commiasioner dated subsequetit to.the 3~1fS time fro~m the date of thia ' mortgage, declining to insure said ~ote and- thip ~mortg~ge, being deemed oonclusive proof oi snch i~ - ' - eligibility), the mortgag~ee or the holder of the note may. st its option, declare all swms seeas~ed hereby . immediately dne and payable. . - - 10. That (a) in the event of any breach of thia mo gsge or def~ult oa the p~art o! the mor~~ r. or ( b) in the event that aay of aaid sums of money herein eferred to be not promptly and fully psid~ wittN . oat demand or notice, or (c) in the event that each and every the stipula~on~, ~gr~ents, condibons, . and oovenants of said note and this morkgag~e, are not du~Y, P~p~Y. and fully performed; ~then in either or any such event, the saida~ rg ~gte snm mentioned in aaid note t~en rn~sining anpaid. vrif': ~ intereat accrued to that time. and ail moneya aecnred hereby,-shall beoo~e due snd payabte iorthwith, ~ or thereafter, at the option of said mortgag~ee, ss fully and oo~?pletely as if all o! the said a~ums of money _ ; were orginaU~r atipnlated to be paid on such day, anythin~ in said note or in this mortgag+e to the contrar~? ~ ttotwithstandu?g; and thereupon or thereafter, at the option of said abortgag~ee. without ~tioe or deru~d, suit at law or in equity, may be proeecuted as if sU moneys secured hereby had matured prior to ita it~ati- " tation The mortgagee ms,y foreclo~e thia mo aa ta t6e sunonnt so declared dne and ~qab1~ and " the said prerniaea ahall be aotd to satisfy and- p~y~~a~me together with co~ts, e~cpenaes, an~ allowancea : In case oi partial forecloanre of this mortgage, the mortgag~ed premisea shall be sold subject to ti~e con- ~ tinuing lien of thia mort~ag~e for the amount of the debt not then dae and unpaid. In auch caa~ t~~ro- ~ ~ visiona of this ParaSrsPh ms~3? a8ain be availed o! th~reaiter iram time to tinne by tbe mort,~agee. : ` 11. That the mort,gagnr ~rill give i~ma4ediate notioe by maii to the mortgag~ee oi : y~ cAnveysnoe~ ' ~ trsnafer. or chsnge of owaerahip oi the premises. ~ ~ ` ~ ~ 12 T6st no waiver of any eovenant her~ein or of the obli~stion secur~d hereby s~ st ~p~ s ~ thereafter be held to be a wsiver of the terms hereof or of the note secured herd~y. ' ' ~ ~ ~ . . ~ . - ~ - -