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~ nndar (b) a~ ~?r~ raph S preosdin~ s~ull aot 1~e wt~cie~t to pw s r~nnd raib. ta~aes and are~amanb. '
and in~uraaco~preriiuma~ as the aw mq? bej whea the wns :~hs~ll beoaaae due aad p~y+~b10. theac? th~
i~ mort¢s~or shallp ~o the m aRy ~ma~nt neoeesar~ to ra~ up th~ deacienq. on or befors th~ ~
m
~ dste v?henp~y~
en~ af auch " r~bs, t~?~tes. ~saeesmanta. o.~ in`uranoe pr~ninnas ahu~l be daa: Ii ~ ;
at time the moct~~o~r t~Wder to the ~~aortga~ee in ~uoc,v~rdsnce aith the proviaions of t!?e notis ~ t
- secwrod hereby. iull psyment oi the entir~ i~?det tednees represen'ed therebY. tt?e morl~~ shsll. in con~ ' ;
, ~ Dutin~ the'~anonnt of auch indebtedaesa. credit., to the acoount o~~ the m ait enb made undsr E
the provisiwLS af' ~i, oi P~raBr~?P1~ S ber~ wh ~ch the mo~tga~e 3 Las ni~~ie
~n~~l~snted to pyr bo the ,
Federai Housing C~ ~nmias?oner, su?d balan ~ remgiaing ia 1 t~e iruads a~cmm ~nder t~?e provi- .
_ sions af tb) o! aai•i ,...~h 2. It~ere ~hall be a default uadear any oi the provisions of thia ~nor~ .
. ~~aQe resulting in. a pu lic ~ale at the premia~ c overecl hereby, or if the morkgag~ee iroqutres the pro ~
•al ~
QWerWise atter def:wlt, thu mo t~a~ ahstt apj~ly~ at~ the time oi the commenoemeut oi wch p
. or at the time the ~~ro is otii
-erwise ~oquired, the J~alauce t~~en remsinin~ in the !'unds ~nmulated~ . ~
nnder (b) ot par~,gca~p~~
preoeding as s aredi~. agai~at the amount of pa~3nciPi?l.thea r~naining nnpsid . ~
~ undor aaid note anc~ lu P:'cPerU? adiust au~? l~a,ya?enta which ~ha11 hav~ be~? made nader (a) of a~id . ~
P~SraP~ , . ~ .
4.. That it w;ll ~~r all t~uces, aaa~smenta, a-atsr ratea. and o:her mm8ntal armunidpal ch~r~,
g~v~e me
~nes. or impoaition~~ for. which pravision has not been made herei abefoib, snd in detault th~reo! the mort~
, ~ee ms~r pay the :ia~me; and tLat it ~rill pr~mFtb? deliver ths o9icial receipta thereior tio:the mart~agee~ ~
~ ~ b: That it ~vill permit, ooaunit, or suffer no waste. impairmcat~ or detsriorati~ oi sa~d propert,y or ~ ~ .
~ psrt thereoi; a•id in~the eveat of the iailurr• oi the mort~r to l~eep tbe bnil on aaid pramiaes
aqy rt
and those to be ere~:t~ed oa said prelniaes, ar im prD~
ementa en~un. ia ~ood raPa~'. e mortS~ee m~Y
• n~s~ke sach rep~irs ra ih ~~a ~discretioa it ,may de:~a ne~eaaary ior tbe pruper preearvatian t~iereol, az?d the
~ ~~nll nmonat o! each and eti
ery snch p~,yment ab aU be immedi~teiy .dne an~i p~y.ablg and aluU be sea~red .
by t
he l ien o
i t~
h
i
s m~rtgag~e. ,
: ' 6. That it Will pa,y i11 and aingalar the aoc:ts, chnrg~es. and azpeoses, inctadin iw~son~ble 3awyer's
. Iee~ and eo~ts o! nbstraats of titie, incnrred a• paid at~ay timcr by the ~ag
~~use o! the fsilurs .
on the pait of the m=~rtgs,go~ ~romP~iy and falb? to ~eriorm tihe ~greem?en~~~xl -no~vensnta c?! aai~i p~is-
~ aory note and this n ortgaga, and s~i~i~ ooste, cha:•ges, and e~c~e~s shalt bs i~~modiate~? due and p~y.able
' ~ and ahaU be secure~ by.the Hez? ai thia mort,gag~s . ~
~
i Tlu~t it will keep the ~nprove~ment~s now e:iating or bereFlter e~re4ted o~t the mcxtga~ed property. ~
E ' ~ 3asured as may'be :~equirecl !~m time to time 1?y the mort~g+ee ~ainst las by S~ro and other bas~urds,
~ casualti~, aad caating~encieay inclnding war dt:mage in snch smiouats and ~or such period~ as ma~y be .
' r~
wred by~ mort,g~;e~ and willp~y protn~tiy, x-hen du any pre~nina~t on wch inauranoe !or paymeat at -
wliich proviaion ha: i~ not heen m~rde hereinbeiare. All~ursna: ahall be can~ted in oanpswies approv~d
. by mo gagee and tt :e policiea and rene~rals theraof aha11 be held by morkg~ee aad have attached thereto , .
. ~ l~s p~~sble cla~sea in favor of and in form acx~eptable_to the mostQages. In event o~ loss it will gi~re
immediste notice b~• mail to mortgagee, and mc~rtgageemay m~ke proof a~ loss i! not msde pra~nptly by .
•~.mor~gagor. and e~ach insuranee eompany eoncern~d ia hersby author3~ced ~rd d~ti+ectsd to au~e p~t,yment -
~ for such lo~s dire~tq to mort~g~e instead of t~ mor~gagOr snd mapt~g~s ~oint~?. ~nd ths insnr~s
'~troceeds, or any ps rt ther~ot, may be 8pplied by moxt,gagee 8t its o tion eit~her t0 tLe reduct~on~ a~ the • • t
indebtedn~s hereb: - secu~d or to the restorata on or repair o! tl?e 3u+oPertY d~ag~ed. In eve~nt ad iore- -
- . clo~ure of this moriga~e or other tranafer of t~tte to th+e mortg:~gaed property fn eztinguiahment o!- the -
indebtedness secure~i hereby, all ~ titl~ and. interest ot t~s m,ut,~gonr in an~d to su~,y inauranee polides
. then in force aball rasa to the pnri~ or g~ra~~tee, ~ .
. 8. That the mo rtSagee ma,Y. at a~r time pE ading a sni~ npou thia a~ort,g~g~e. aPA~jr to the court hsv-
~ ing ~urisdiction th~~reoi for the appomtrnent ~~P a reoeiver, snd sneh oonrt ahaU forthwith appoint s• i
i receiver o! the pxraaises eovered hereby sU sh~i singular. inclndIn~ all and~ the incam~ pro8ta,~
i - issu~s,, and revenu~a lrom whatever source d~rived, each and evaty of whicb,~t ~ e~cpress~y nnde~.
stood, ~s hereby mo~ tgaged as it speeiBcally set i
orth snd describud in the granting nnd dum cianae~s
hereol, ~ and such receiver aba~l have all the broad and eSective tnnctions and powei~ in suywise -
en~isted by a cont t to a i~eoeiver, and such a~~pointmeat shall ne ms~de by such oourt as au admitted -
: eqnity and s matter of abaolnte right to aaid mortg~g~, and withotrt reterenoe to the udequacy or insde-
. quacy ot the value ~~f the pmpert~r mortgaged ar to the solvency or insfllvency ot aaid mortgsgor or the ~ •
defendanta, and tlux such rents, P~~, incosr,e, issnes, aad revenues ahalt be ~?pplied by snch x+eoeiver
acoording to the Iieai of thi9 mortgagoe and the practioe of -aueh ex~urt. In the event oi aay deianlt oa the .
. part ot the mortg~,ror herevndert the mortgagc •r agrees to pay t~ the mo on denaand as a r~so~ `
~ able monthl,y rental for~ the prem~aes an amoun~ . at le~st eqnivalrnt t~ one-tw~~~ of the aggregate
. . oi the twelve monthiy instullmenta paprable in ti~e then current y4~ar plns the aatual amannt o! the annusl ,
taues. assessments, watsr rat~a, and inaurance preminma for ~ch yenr not eovered by the atoreaaid ~
: monthtY Pa3rments- ; ~ ~ .
9. The mortgat;or fur~Iier'tavensnta that e.hoold tbis moartge,~+e ~tnd the nobe seenred hereby not bs .
eligible for insuranc e mnder the National HousingA~ct within iram the date hereo~ ~
~ (aritten atatement ~t an~? o~cer~v~ the Federrl Housing Admini:3t~cation or sntharised agent oi Lhe Fecl-
~ eral Housing Comtr issioner dated sabseqtient t~ the time irom the date oi this
. mortgage, decliniag to iasnre ssid note and thia nwrt,gage, being dee~ned eoncludve p~reoi o! anch
. , bility) , the mortgag ~e or the holdsr ot ths note m sy. at its optioa, declare all aums aecnred he9reby ii~~ . .
~ ately due and payab'e. - -
~ 10. That (a) i~. the event ot say breach of this mortgaQe or detaatt an the part o~ t~e martgi~ar a~ ~ ~
(b) in the ecent tl~.t any of said aums oi moae; • herein reten~ed to be aot prct~tty snd fully psid w~th-
oirt demand or noti~:e~ or (e) in the evant that each and every the sti s~greements, oonditions, .
snd-o~venaata of s:ad not~i snd this mort,ga~e are not dnly pram , and periormed; the~n in .
~v n
. either or aRy suah ~ vent, ti~e ssid aggr~gate su ~n mentioned ~n :ssid aote then rer~asining unpai with -
inter~t accrued to ~lYat tiaie, snd sU moneys sc cun~d hereby, ahall beoo~e due aud payable fo~with. . .
or thereafter. at th~ op~ion ot asid mortgage~ :u~ iuUy and compietsly as ii all oi the Baid sums of money " .
• arere originaUy stipi:lsted tn be paid on snch day. anythu~g in said note or in thia morkgage to the contrar~r
, notv~rithstsnding; a id t6e~~eupoa or thereafte at t~e opt~oa ot ssid mortgag~ee, witizout notioe or .
dernand, suit at la~v ar in e~nity, msy be prosec~ rtod aa if ~il mon~~y~s secnred hereby bad m.~tured prlor to •
~ its institntion. The mortgz~ m~y iorecla8e i~ is mortgaae, as to the amouat io declarec'. due and pa~ .
sfile, and the said ~~eznises ahaU be sold to gati. fy r.nd pay the sune tog~ether with ex and .
~ allowances. Yn casc oip~r tial loreclosuro of ti~ :s mort~ase. the ~nort~a~+ed premises ah be so~~jec,~ .
to the con~inning I~c n o! this mortga~e for tha : moaut nf t~tee d~t not lhea dae and nn d. In such ca~e.
~ , the provesiona o! th;s Para€~raph may ~sin be a va~od of theresftear tro~? time ~ t~ms
b~p :hc a~ortga~~ee.
• 21. Tbat the rr ortQag ~r wiU~ive immedi: te trotws b~ m~ui t~ the mo~t~es o~ ~:y aonvayapoR ~
. transfer, or cbAn,~ ~ d owne rship o~ ths premiees. ~
12. Tbst no w: dver o~ an~? oavensnt herai n or oi the ~atio~ secored ~ shaQ at aa~? timr ~
the~itez bs held t~ bs a waive~r ot ths terms hereo! or e~ th~s ~~ots secured h~e~+eb~. ' ,~.,.w,,, ,
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