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sad inanrancs premiams, aa the c~e m~? ~sach ea~oein shsU bs credited tiy tbe mortg~ee oa aabseqwut
payaneats to be made b~ the mortgaQor. , howovar. tht mont~? p~yma~a~ made b~r the n~ f
tmder (b) ~ c~ Parag~'aDh $ Preoed~tn~ sh~ll not be sa~ciea! ~o ya~pr~aa~nd reab. ta~te~ antl assasmeY?b
and inaurancs~~um~ as the caae nu~Y be, whea the same sball beoome due and p~~able~ then th~ .
~ mortg~goz P~? to the mort~a,~ee aRY amamt neoeeaaty b~ ms~lce np the d~e~cien~y. on or ~ar¢ the ~
date whea payment af auch ~round rents, tuea, aaeeesmeata. or insnranos pr~niums shall be dua Ii
at any time the mortgagor ahAU tender to the mort,~a~gea 3n sccoardsnce Rrith the provisiona oi the nota
seCUred hez~ebY. fallps,~?a~ent oi t6e eat3re indebt~edne~e represented ~thereby, the ntortBa~ee a1W1, in cwn- .
put~ng the amount ai such indebt~edneas, credit to the ~cconnt of the mart~gor all ents m~de undar
the provisions oi a) of paragraPh 2 hereoi which the mor~kgag~ee has not beoome la~ted t~ pay to the
Federal Housin~ ner aud any b~alance r+~ in the irmda aamm~lsted under the proviaioua
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of (b) at aaid 3'» ~ Yf there ahall be a deiunlt an er any a~ the pirovision+r of th~s mor~kg~e~rs• ~
anltin,Q in s p lic aale oi the prewiae8 oovered hereby or if the mort8sg~ee ~?oq.uires the property o er~ ~
aise i~fter defanik the mo ?~ee ahsA sp ly, st the t~me of the oo~mmeaoenaen! oi sneh pn~c~ee
tings or at ~
the time the pra~t ia ath~+ei~vias a+equix+e~the balanoe then in the ibnda ucumnla +ed under ~ i
Qt p~h ~ p as'a credit ag~?inat the amonnt~psl then re~naining iinpsid nnder ,
p~aragra -h
ssid note and shaU properly uat an~y p~rmenta which al~xii have m~de undei' ~a) of aa~d p~ragrxph. .
4. That he will ps~y all taxes, aaee~nents, wster xat+es. snd other goven~nentaI or mnnidpst ch~rg~es, ~
Sn~, or impositiona, for which proviaion has not besn m~?de hereinbetore, and in defatalt thereoi the mort- ~
ga,gee may p~y the same; and that he wiU prompt~j? deliver tLe officisl xeoeipts therefor to the mort~a~ee. ~
b. Thst he will permit, cammit, or a~er no waate, ~mpatrment, or detsrioratio~ a~ said ~raperty or , ;
any psrt thereoi; and in the eveut of the iailnre of~the a~ort,gagor to keep the bnildin~s oa e~ud premis~
and thaee to be erected on aaid pre~nnia~, or improvementa thereon, in ~ood rep~ir. the n~c?rtSagee may -
make anch rep~ira as in ita diacretion~it may deem neo~ary for the proper pre~e~at~oa thereol. and the ~
fall amount of eaah and every anch ps~?ment ahall be immecliate~y dae and p~U?able, an~l shall be aecured r
by the Iien a~ this mortgage. - ~
6. That be wiv ps?y av ~?na a~agular the e~at~ c.}?ug~es, ana mcpeases, incladiag ~nabk Iswyer's
~ecs, and eo~ts ot abatracta of title, incurred or paid at any time by the ~a~ee beca oi the faUure ~
on the part o~ the mort,gagor promptlY and i ~rto perform the ~greemenn~
I~~wd co~venants oi ssid pra~r
iaaory note and this mo~~~, and said oo~ta,n~C~harg~, and ea~pensea shall bs immedi~te~? dne ind pay?- F-:
s~b1e and ahsll be se~urad
b~
y th~ lien o# tbia mortgag~e. ~
That he aill keep th~e improvements novv exiating or hereaftsr e~c+eeted an the ma~rt~ged propert3?,
insnred aam~y be reqntr~ed from time to time by the mo~~e ~loss by Sre and other hazat~ds. ~ .
cssnalties, and contingeacies in anch amounts and for suc~ peri~may be reqnired b~ mor~tg;a~e, -
snd will paypramptXy, whea due. any preminma on ,snch i~iauranoe far t oi which provision has
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not been made hereinbe~fore. AIl inanr~nce ahall be c~ried in aom es approv~d by mortgagee and
the policies an3 renewala ther~eof shall be heid by mortgag~ee and ve attached thereto lo~s payable
clansea ia fsvor of and ~~orna aoceptable to the mort,gagee. In event of lo~s be wiU ~Ive immediate
notioe by mail bo mortgag~ee, and mortg~ee may make proof oi loss if not ms~de pro~nptJ,y by~ mort8agor. ,
` s~nd ~?ch insurance eompaay ooneerned is hereby anthorized aad dir~cted to mahe pqyment for anch '
. lo~a dir~ect~ to mortgagree instead oi to mortgagor and~nortgagee jointly, and the insurance ~mceeds, er
any thereof, may be applied by mortgag~ee at its optioa either to the redactiea~ of ths indebtednees _
h~secwred er to the reatora~ion or repair of the property dama~8~ed. In ev~t oi foreclaure o! this -
mortgag+e or other tranafer of titte to the mortgaged proper~j? ia ent oi the ind~tedn~s _
secnred herebR ail right~ title, and interest of the mortgag~or in and to aa1? ce policies thev in iorce . . -
ahall pse~s tv the pm~chaser or grantee.
8. Tbat the inortga8ee maY, at any time pending a an~it npon this mort~age. app~~T_ to t~?e ooart hav- ~
ing ~nriadi~tion thereoi tor the appointment o~ a receiver. and snch ooart shaU forthwith ~ppoint a
xec~ver oi the premises povered hereby all and a~in~ular, inclnding sll and t2?a inoan~ proftt~.
iasnes, snd revennea frwn whatever aam~ce deri each and eveY7? oi ~?hic6.~
b~ein8 ~A~J
gran ses
stood, is heireby martgaged sa if apeciflcall,y. aet fortli and deacribed ia the ting and hsbendma clatises
hereof and anch receiver ahall have all the broad and efl~ective ianct~ons and pc~wers in su~ywise
entrus~ed by a court ta a receiver, and anch appointment shalI be made by anch coart as an admitted ~
- eqaity and a matter~of absolute right to aaid mortgagee, and vvithont referenoe to the adeqauy or inad-
equacy af the vatue of the prnperty mortgag+ed or to the aolvency or insolveacy of aaid ma~w~r or the -
_ defendaz?ta, and that auch renta, prn5ta, income, iaanes. and revennea ah~ll be ap~lied bT receiver i'.
avoo~n~ to the lien of thia mortgage and the pn~ctive of anch oonrk In the event of any default on the i:;-
p
a
r t ~ o
t t
he mort
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a
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or hereunder, the mort
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s to psy to the mo
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a
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e e on demand as s reaso~
able mon
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h
l
y x~ental for the premises an amount at least e
qtuvalent t~ an~-tw
e
t
i
t
h af t
h
e aggreg~tte '
oi the t~relve monthly inatallments paqable in the then cnnent year plus t
he a~ctusl amount of the aaaual
. --t~cea- asseasmeats, water rates, and inaursuioe-premiums _ for. s
n~
1? .3re~u'_n
a
t oav
e
r e
d_
by t
he a
toressi
d
mant~l? p~ymmta - - _ _
. - .
9. The mortgagor ft:rther covenanta tbat should thia mortg~ge and th~ nots secured her~by nat be , ~
eligrible for insurance under the National H gAct witLin 3'nev irom t6~e date tiereof .
(written statement of any officer oi the F~ude~i~al Honaing Adaunfa~tib~ a~r autlcorized ag+ent o~ the
Federal Housing Commi~aioner dated aubsequent to the ^ time irom the date of this
~ martga8'e, declining ~ to. insure said note and this mortgag~e, oonclnsive pmo~f oi sueh fir
. eligibility), the mort,gag+ee or the holder of the note may, at ita option, declare all atums secared hereby
immediately due and payable.
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10. That (aj in the event of any breuch of tliis nwrtgsge or defsult on the parE oi the mortg~g~or; ot :
1 (b) in the event that aqy of said awr~s of money herein referred to be not pmmptly snd !'ulip pnid antb,
out demand or notice, or {c) in the event that each and every the atipulations, sgreements, eonditians, j-
and covenant~ of said note and thia mortgag~e, are not dnl~?, prom~tly, and iully performed; then ~ .
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either or any such event, the ~said aggregate sum mentioned in said note then remaining ttapu'd~ ~rit,~?
interest accrued to thst tia~,e. and all moneqs aecnred her~eby, shsll beoome dne and pa~yable forthAitl~
or thereafter, at the option of said mor~g~e; ae fully and oo~nplete~r ae if all ai the a~id sums of money ~
were oz
g~nall~? stipulated to be paia on anch ds~Y, auY~~B ~ aaid note ar in this mort~g~e to th~e-oon ' ;
notwithatandmg; and thereupon or thereafter. st the option of said mortgag~ee, ~vithont notioe or a~~ -
suit at lsw or in e9ui~,Y. maY be proe~ecuted as ii all moneys aecnred hereby had matured prlor to its insti- t
tioa. The mortgag~e may forecloae thia 'mortga~ aa to tbe amount so declared due andpay~ble, and ~
.~e aaid premises ahaU be sold to aatiafy and psy the same tog+ether with ooata, expenses, snd aUowancea.
Ia caae oi partsa! forecloanre oi thia mortgage, tlie mortgaged premisea~ aE~all be aoId snbject to the eo~ ~ ~
tinuing lien of this mortgag~e for the amaunt of the debt not then due and unp~id. In anch case ffie pro- • ~
visions of this para~raPh maY again be availed oi theresiter trom time to time by tbe mort~gee.
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ll. Tlut the mortgag~r will give immedjate notioe by mai~ to the morta~t~e o~ ooave~ysncR
tran$fer, or chsng~e oi ownershYp of ths pr~ani~. , .
12. That no vvaiver oi an~? oovtnaat h~rein or of the obligatl~ ae~vred berab~ sb~Tata~~. ~
theresifter be held to be s waiver of ths ter~ns hereoi or a~ ttie not~e secured hereby. _ '