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~tad iasuranca Pre~nfuma. as the eASe m~y bat _wch eoccees aha11 be credited b~ tb~ mort~~es on subseq~nt .
W~yments to be msde by the iaortg~o_*. If, however. the moathly paymeats made by thd'nwrt~or~ ~ '
ander (b) ad Par~~t+?P~? 8 Precedin~ sh,aU riot b~ su!llcient to p~~?~ronnd renb. tixa aad ~asoaemente
~uad insuxu?o~e~ prsmiuma~ as the ca~ee m~r be~ wha~n ti~e same shali beoome due snd pe~y~bt thea the
mort,~agor ahall pa~r to the mortQa~ae ~r snnount n~ceessry Lo make np the deaciency~ on or~ore the
j . . date when p~y~nent of sach ~round renta, taxes, aaeeeatuenta. or inanr~woe Premiums sbaU be due. If
~ st any time the mortga~o~ ahall tender to the rao
rtSa~ee ia ~a~xordsnce with the provtsiona oi the note
aecur~d hereby. tatlp~m
ent of the entire indebtedn~a regresent~d thereby, the m
! pnting the amonnt of such indebteda~s. cradit to th~ aooa~t oi the m iA oom- , 4
~ art,~sgor sll enta mado under ~
: the provisiona oi {a) oi paragraph 2 her~oi w~ticf? t~e mo~ee has not 6eco~ne ~t~ t~ ps~ ~ the- ,
, Federal ~ouain~g CO~ni~ioaer and sny balanoe ' in e funds accumulated nnder the proviaions ~
of (b} o! saidpsra~raph 2-It ttiere ehali be s defaWt un auy a# the prov~iona~ of thia mort~e re. • ,
anl~n~ ia a pu
ub
'c sale of the premiaes ouver~d, hersby~e o~i the~ ~e property ot~er-
a, te
~viee a~ter deisnlt, the mortga~es ahall apply, ~t the co~mencement of auch p~oce~~a~s or at ~
1
the time the pro is otherwise aaYuired, the balanoe thea re~ini~ in the funds accumulsted Under
(6) oiparagrap~p~oedin~~as a c~dit ~gainat the amount o~ principd then remaiai~ uAp~id under
s~d noLe andtihall ProPerr
~j? adluat a~U? P~yments which ahall have been niade under ~a) oi suid paragrapb.
4. Thst he will pay atl t~cea, aasesaments, water rstes, sad other governmebtal or municip~l chargee, ~
~aee, or impoaitions, tor which provision haa not been made hereinbeiore, aad in deiault thereoi the morG~
~ ~+~ee.m~1? PqY the aame; and tlu~t he vviU pra~mptly deliver the o~cial_ re~eiPts therefor to the mort~ag+ee.
6. That he will permit, co~n~mit, or suffer na ~rast~ 3mpairment, or deteriorstion oi said property or _ '
~ unypa~t thereot; and in the event oi the failnre o! the mo r to &eep the buildings on aa?id pre~niaea ~ ~
~ ~nd ~hose t~ be erected oa aaid pr~niaes, or improvements~
n, ia good repair, the mortgagee ms,y '
make auch rapairs as in ita diacretion it m~? deem necessary ior the proper pr~ervatioa theri.wf, and the
~ fnll amount of each and everq snch p$ym~nt sha~ll be immediately due and payable, and shall be aecured
by the lien c~ this mortga,ge, . .
~ 6. That he arill pay all and aingular the costs, charg~es, and ezpenaes, including reasonAble I~~s "
. feea~ snd costa oi abstracta of titte~ wcurred er p~d at any time by the mo becavae af the i lur~e
on the put af the mortgagor pro~mptly and i to pertorm the a~greements~covenunts oi said prom-
issozy note and thia mo and ~aid ooatsu~CC;hargee, and ezpenaes sball be immediate~y due and pa,y-
: ~ble and shall be secwred
by~e lien oi thia mortgag~e. - . I
~ . T
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insured ~sm~y be reqau~ed irom time to time by the mo lass by ftre and other hazards.
caau~tties, aad conting~eacies in sach smoaata snd for anc per~o~may be required by mo
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not been n w
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hereinbefore. AU ir~anrs~nae ahall be c.~rried ~in compa~u~ approved by mo
rt
g
a~
c~
e and
the policies and renewala thereof ahall be held by mortgag~ee wd have attached thereto lo~s paqable
clsuses ia favor und in form sa~ptable to the mo give ~nnn~ediate
, notics by mail rtg~gee, and mo ~~'~t oi lo~s he will n .
rtga~ee m~y make pmof oi loea i~ not made pt~osnptly by mortgag~or~
- and ~ch ina pany concerned ~a hereby authorized and directed to make payment #or auch
loes direct~y to m t~ instead of to mortgag~or and mo Jointly. and the inaurance proceeda. or
aqy thereof~ n~~? ~e app~ied by mortgag+ee at ita op~on ei er.tu the reduction of the iAdebtedneas
h~secured or to the reatorafaon nr repair o! the prnperty damaged. In event of foreclo~urc of this
mort~~ge or other tranafer oi titie to the mortgaged property ~n extin~ui~ahm~nt of the indebtednees
' aeaured hereb~r. alI i~ht, title, and intsreat of the mortgag~nr in and to an,y msnnace peliciea then in force
aha~l pass to the purchaser ot grantee.
8. Thst the mortgag~ee may, at say time peudin~ i suit npon this mortga,g~e. apply to the ~ourt hsv= -
ing ~uriadiction ther~of for the appointinent of s receiver, and auch oourt shall forthwith appoint a_
r~oeiver of the premis~ e~vered hereby atl and a' , including sll and ain~nlar the inconne, px+ufits.
issnea, and revenaes from whatever soun~e deriv~each and ever~r ot whicb. it b~ing expreasly ~nd'er~- . -
stood,,is her~eby mortga~ed aa if 8peciHcally aet forth and deecribed in the granting and habendum clauaes
`bereof, and such reoeiver ahall have sU the broad and effective~ fnnctions and powers in anywise -
: eatri~ated by s eourt to a receiver, and auch appointment ahall be made by sach eourt a~ an admitted -
equity aad a mstter of absolute right to asid mortgagee, and wlthout referenoe to the s~dequacy or inad-
equacy oi the value of the property mortgag?ed or to the solvency or insolvency of said mortgagor or e,
: - ddeadant~, and that anch renta, prn~ta, incom~ isauea, and re~venues ahall be applied by sucli'receiv~
er ~ -
aooo~ t~ the lien of this mortgage and the practice of snch oourk In the event oi any default on the
; ' put of e mortgagor hereunder~ the mortgag~or ~reea to p~,y to the:no on demand as a reaaon- '
~ a~ble monthly rental for the prem~aea an smount at leaat equivaleut to on~-tw th (~,'ls) of the aggregats . s~
of the t~velve mont~ily installments payable in the then current yesr plus the actual amount ot the annual -
. tazes as~menta, water rat~a, and insurance p~emiuma far sach year n~t covered by the sttot++e~~said =
~ ~ moa~t~Iy psymenta. _ - . ;
9. The mortgagror further covenanta that should thia mort and the aote ~secured hereby not be .
eligibte for insurance under the Nationsl Housing Act within ~~0 d eye from the date hereoi
~(writtea statement oi any o~tcer of the Federai Honaing Adminiatration or authorised a~ent of the` -
Federal Housing Commissioner dated aubsequent to the aforesaid time from the date of thia •
mortgage, declining to inaure aaid note and thia mortgag~e, being deemed concluaive proof of aach !n- ~
_ eligibility), the mort,g~agee or the holder o! the note may, at ita option, declare all auma secured here~by
immediately due and ~payable.
~ 10. That (a) in the event of any breach of t~fiis mortgage or default on the psrt of the mortg~g~r, or
( b) in the event that any of aaid sums of money herein referred to bb ~ not promptly and fnlly paic~ wit~-
, out demaud or notice. or (c) in the event that each and every the stiputationa, agreetnents, condltio~s,
u
aud coven~wts o! said note and this mortgag~e, are aot da~y. Prompt1Y, and fuUy pertormed; then:in
e~ther or any such ~event, the aaid ggr~gate sum mentioned in aaid note ~hen r~msining unpaid, .with '
interest ~tocrued to tlist time, snd all moneys secured hereby. shall beoo~ne du~ aud pqqable iorthwitti.
or thereafter~ at the option oi said mortgagee, aa fuUy and completely as if atl of the ss~d aums of mon~q . ~
were orginalTy stipulated to be paid on auc2t d~?, ~at~r thi»g in said note ar in- thia martgag~e to the ~n
not~?ithst~nding; nnd thereupon or thereafter, at the option oi eaid mort~ag~ee, without notioe or dea~u~
• auit at law or in equity. may be proesecuted as if alt money8 aecured hereby had mstured prior to its insti-
b~tion. The mort~gee may ioreciose this mortgag~e, as to the amount s~ dectared due and~~ayabte, and
~ the said premisea ahall be aold to aatiafy aud pay the same together with costs, e~~pens~a. an a~lowsnaea. r
' Ia case oi .psrtial foreclosure of this mortgaBe, tLe -mortgsg~ed pr~aises ahall be aold sabject to the con-
. tihuing lien oi this mortgage !or the anaount ot the debt not then due and unpsid. In auch case the pro- ?
vlaions of this P~raBrsph msy again be avuiled of thereaftsr imm time tfl time by the mortgag~ee.
11. That the mor~t~gor wlll ~ive immedlate notioe by nuil to the mortgag+ee oi any oonveyance, _ '
transfer, or chang~e oi ownerahip of the premiaes. . .
12. That no waiver oi any covenant herei~a or ot the obligation secured hereby ahsU ~it any t3m,e
theresiter be hetd to be a wsiver oi tbe terms hereoi or ot the note aeeur~ed hereb .
. ~ QO~~ VV .r_