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andsr (b) od paragraph S preoediu~ shall aat be au~bie~t to p~ ~tound re~ta, t~u~es and ae~ee~nnenb.
and insur~unoe~p~m ~mos, as t~e case m~? be~ when the same a6a11 bscome dae and payabl thea the ~
mo aldallpay it~ the mort,~a,~ee an~y anaonnt necesaary to malce up #he deScienqr, on or~ore the c. ~
date w enp~ym
ent of snch~cound rents, ti~es, ~sseaamenta or inenranoe prsmiums s~ll bs dne~ Ii ~ ~
At any time the mortQagnr shail .teader to the mortga~ee in a~oardanoe with the provisions a~ the aots
aecnred hereby, iuU p~ent oi the sntirs indebtedneas repreeented therebY, the mart~a,~ee st?s11. in ooa~
puting the amonnt oi anch indebtednese. c~red3t to tho acoonnt o! the mo all enta m~ide under
the pmv~ions of (a) o! paragrsph 8 hereof which the mortgag~ee has n~~ieoome~~~l~
ted to p~? to the
Federal Honsing Commiasioner, and bslanc~ remaining in tbe innds accum ed under the ~rov~ '
sions oi ~ b? ~i aaid ph 2 Ii~ere shaU be a defautt nnder aRy o! the proviaiona of this mortr~
gage reenjting in a. p~ o! the premisea oovered hereby. or i! the mort,~tg+ee aoqu~s the pro
otherwiae afte~c default, the mo shall app~y. at the time of the commen~anent o! auch pr~~c~eei in~s .
or at the time the pmperty is ~iae acquired. the balanoe then reniaining fa the f~mds aocnmulated ~
nnder (b) of ~h 8 precedin~ aa a credit against the amonnt of prlndpal then remsining anpaid
nnder aaid note~afiall F~P~b? adi~t ~3? Pe?3rments which ah~li have been made ander (a) at aaid• ~
P~aP~ '
; 4. That it willp~y all tsuces, assesaments. w~t~ rt~ and other grovernmental or ~un{dPal char8~s,
~nes, or impositions„ ior which pravieion hare ~not been ~e hereinbeiore, ~tud in de~ault thei
eof the mortr
. S~S~ee m~y PaY the aame; and t6at it will PromPtlY deliver the offidal receipte therefor to the m~rtga8ce~~ •
6. That it will perrmit~ commit, or auSer no waate, impairment, or deterioration of aaic~'property br ~
any part thereof ; and in #he event of the failnre oi the mort~ag+or ta keep the bnild~n~s on aadd premiee~ ~
aad thase to be erected on aaid premises, or improvementa theireon, in good repair, t-he mortgagee m~y ;
F ~ make auch rep~sira aa in its discretion it m~,y deem neceeeary for the proper preeervation thereot, and the ~
inll amonnt o! e~ch and every such ~yment shall be immediate~y dae and payabley and sh~U be aea~s~ed . -
by the ken of this ma~kgage. - . .
. i
. 6. That it will pay sU and siu~alar the oo~a, ch~?r8~es, and eapeases, incln ~g r~aaonable law~?er'a ~
~ fees and co~ta of abstraats of tit~e, ~eurred or paid ata~! t3me by the mort~ad~~ because of the iailure ,
on t~e pait of the mort,gx~ar promp and fnl~jr to pertorm the agreementa an~ covenanta oi aaid pro~nis-
aory note and thia mo~ag~e, and 8ai~i~os~, charg~, snd espenaes ahalt be: im~aediat~y dn~ and p~yable ~
F; _ and s6all be eecnred by the lien of tt~3a mortgag~e. . j`~
j 7. That it will keep the improve~nenta now ezieting or hereaf'ter m~ectecl on the mortgaged Pro , s
~ - inaured aam~r be required trom tam~e to time by the mortgsgee against laas by Sre and other hau~, ~
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~ r by ~nortgag~ee and the pol~ciee and renewala thereof sball be held by mortgagee and have attached thereto
t looss p~?able clauses in favor of sud in form acoept~ble to the mortgagee. In event of loss it will give ~ _
; immediate notioe by mail to mort,gagee, and mortgageemay maice pmo! o! loea it not made pr~npt~y by
mortgagror, and each insuranae oompany conoerned is hereby sufhorrized snd directed to mage p~yment ~
` for snch la~a directly to mortgagee inst~ead of to mortg~,g+or and mo joint~y and the insurance
~ ~roeeeda, or any. thereof, may be Spplied bY mortgaSee at ite ~ther to the rednction a~ the
indebtedne~s h~secured or to the restoration or repair oi the Praperty damag+erl. In event o! for~ ,
closnre of this mortgag~e or other traasfer of title to the mortgag~ed pmpe~ty ia e~n8n~hment of the
indebtedne~s ~ hereby, allu~~tle, and.inter~t of the mortgagor in a~d to at~y, inaurance po~ides
then in #orce shall pasa to the p or grantee. . ~'q
. 8. That the mork8s8'e~ ~Y. timepending a su~ upan th~s mor~gage~,app1y to the couit hav- i•; }
~ ing jnriadiction thereof for the appomtment oi a reoeiv~. and sach oonrt absll iarrthvvlth s point s
receiver o~ the premises oovered her~by sll and singular, inclnding all and ~the ineaane, pro8ta, ;
isaues~ aad revennes fmm whatever sonrce derived, each and every o! which,~ It beiag ezpresaly nnder- ~
stood, is hereb
y m
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hereaf, and such r~ceiver ahall Lave all the broad and e~ective fnactions and powers in anywiae .
entrasted by s oourt to a reoeiver, and s~ch appointa4ent ahall be made by anch oourt aa an a~dmitbed
~ eqnit~Y ana a mattei of absolute right to asid mortgag~ee, and withoat referenoe ~o the adequacy or in~de-
. quacy oi the valne ot the property mortgaged or to the soivency ar iasolvency of said mortgsgor or the '
defendants, and i~oat auch rents, proSta~ incame, i~ues, and revenue~ shall be applied by snch receiver ~
, saoori3ing to the lien oi this mortgage and the pra~ctice of ench court. In the eve~nt of any detanlt on the •
par~t of t~e mo~~
r hereunder the mortgagor agrees tfl pay to the mortgag~e on demand aa~ s reason
~ . sble monttily ren
t a~ for the~ pre~mise~ an amount at least equivatent to one-twelith ~~ifis~ of the aggregste ~`,i
of the twelve monthly installments paj?able in the thcn curr+ent year plua the actual amonnt of the annusl " s;
; ta~ces, ass~ssments, water ra~ks, and inauraaoe pra~iums ior such yeat not eover~d by the aioreaaid ~
- moatlil3? P~Yments. • • ~
~ 9. The mortgaga~r tnrther e~ivenants that ahould thi~ mortgag~e'snd ths nbbe secured hereby not be . '
eligible for insuranoe under the National Hona' Act within ~ from the date here~f
~:(wrlttea stateaneat a~ any offic~' of the Federai~ouain8 A or authorized agent of the Fed-
eral Housing Commissioner dsted snb~equent tio the time from the date ~2 this
bility~
mo~rtgagee~or~th
~ol~ ~the~n
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ptton, deela=+e aU eums secut~ed hmreby i~~ ;
sxely dne snd payabt~ ' i
~ r 10. _ T!~ (a) in the event of any breach at this mortga,gg or dedault on th+a part o~ the mortga~gnr o~
'(bj in the event tha~ any o~ said amns of nianey herein refe~n~ed to be nat t~tly sud-fally psid w~t~ i
ont demand or notioe, or (c) in the eveat tl~t each and evety ~he ati w~s. agre~nents, oonditians,
: and oovenants ai ssid note and thia mortgag~e, are not dntY Aro~m . sad fal~j? pertormed; the~ ia
_ either or any sach evea t~ ssid aggregat~ smm mentioned ~n said nate thm rie~inin?g tmpai ~vith
~ interest acaued to tbat~inte, and aU moneys Secured hercby, ahall beoome d~e and payable fo~with;
. or tlher~fter, at the option ot eaid mortgagee, a~ fally and oo~n~
pletely ae i! aU o! the said sums of naney. . -
were originally stipulated to be paid on st~ch daY. saYthinB in aafd note ar in this
aotwithataading; and thereapon or thereafter. at the~{~ of asid mortga~wltho~
noticte
o~ir .
~ de~and, snit at law or in eqnit~?, ma,Y be Pro~ecnted ss ii ali moaeys secared heraby had matured prior t~ ~
its institution. The mortg~ee msy farecloee tbis-morEgs~e, as t~ the amount oo declat~td dne sad p~?.
a~ble, snd the aaid pre~ises sbsU be aotd to sataiafY aad pa,y the eame to~the~r ~vitLcos~, and '
allowsncea. In case oi~ foreclosnre od tbis martg~g~e, the mortgaged sl~alf be suld sn ject
to th~ contin~in~ lien o~ t6is nortQ~g+e iar t6e amonnt oi the debt not th~en and uapsid, In wch caae
~ the provi8ions o~ this Psrs~graPh ma~ aasin be availed o! t~heresfts~r irom time bo? time b~ the mortgagee` .
1L That t~e mortQag~or ~viUg~ve immedia,te n~fi.ioe by ms~l to t~s nwrt~a~es a! s~ co~o+eyanc~ -
trsnder. or chat~e oioWnership oithe pr~emisea.
~ ~ 12. Tt~at r.a w~ o! ~np covenant herein or o! tt~e obligstte~e secnred hereby s~aU at ~r tims .
t~ter be held to be a watver oi the tm~ms herea~ or od !he note secured heareby. ' _ .
. ~ $8 25Q
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