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Home My WebLink About2425 . ..r..A~r _ _ 1 - __..~..-...~._...~a - ~ . ~ ~ ~ , r . ~ ' ' • 1 ~ ' ~ t ~ • Z . s . ~ " ~und in~rmoe p~emianos, as the caee nu~ be~ _wc6 e~oen ~hW bs credited by the mortga,~ee oa sub~sequeat p~yment~ ~o bs m~de b~ ~he mort,~s~or. u. howaver. the mont~ pyrments made by the nwrttt~ amder (b) ad Para~'aPh $ Preoedin~ ahall not b~ w~kient to p~~?~o~m d reats. tases and aasesaments and inauriuaos~Freminm~ as the ca~s nuV b0. whea the s~ne sh~ll beoome due ~d pavable. then the mort~a~or 1 p~y to the mor~e any amonnt neoeesary bu msice np the deQc3enq?, on or before the date whea p~yflne~: oi anch ~roua~ rents, t~as, seseeame~b. or inauranoe Premiuma ahall be due. If at Any time t~e a~a~st,~a,g~or sh~ll tender to t6e mortgagee in aa~ordsnce~ ~vith the provisions oi the note secured hereby. ibU t of the entire indebtedne~s regresent~ed thareby, ±he mortea~ee ah~l~ ia com- - pntin~ the anwunt ancb indebtednee~s, credit to the ~co~wnt oi the mort~aBor aU ~?menta made under the provisions of a) oi par~graph 8 hereoi which the mortg~ee has not beoo~ne ob~IiSsted tapay to the Federal Houain~ oner and any balance ng in e iunds aocamwstsd under the provi,siona ~ oi (6) of said 2 Ii there ahall be a defsul~ der sny o~ the provisions oi thia mortgage re- aultln~ in a p lic asle oi the pramiaes oovered hereby or ii the mort~sgee aoquires the property ot~er- ! m wiee after detault, the mo ~agee s6s11 aP ly. at the t~me oi the aanmenoement oi auch procecdings or at , ~~y m the time tbe pro is oth~+e~icwise a~ccluire~t2?e balAaoe thea remsinin~ in the ltiwda ucumulated under es~d no#e snd abill pro~nst sqY P~3?m~en~ h~ich ahall have ~cipsl thea remainiag unpaid under been made under (a) oi eaid paragrapb. 4. TLat he wjll gay all tu~ces. assesaments, water ntes, ~und other governmentai or municipal charges, ifnee, o~r impositions, ior ~vhich proviaion 2uis not been made hereinbeiore. snd in default thereoi the mort~ -~~e m~y p~y the aame; and tlut he will pr~o~npt~! deliver the o~cial reoeipta tllerefor to the mort,QaQee. 6. T6at he will pernait~ canmit, or auffer no aaste, impairment, or detEriontion oi said ~roperty or ~ a~,y psrt thereoi; snd in the eveat of the failure of t6e mortgag~or to keep the buildings on aaid prem~aea an~ ~ho~e to be erected on said premia~a, or unprovementa thereon~ ,in gwd repair, the mortgagee m~y ' • IDskB auCh l+eplL~rs ~ ~II ~ts d3SCret,~OII may deem 1?eC~eatq fOP the pTOper p~b@Y'vs'Liun wiutivi, auu i ii6 :x~ i~ll amonnt of e~u:h and every auch p~U?ment ahaU b~ immediatelY due and p~yable. snd ahsU be secured bT the Hen oi thib mortg~tga. . 6~ Tbat he will gay sil and ain$ular the oosta. charges, ~nd espensea. inclnding r~asoiuble laaryer'a me iees, and oostrs of Abstra~cta oi title. u?curred ar paid at any ttme by the mort~ag~e becauae of the failur8 . on the p~rt o! the mortgaSor promptly and i to periorm t6e agreements and oo~venants oi said pmm- ' isaor~ n+ote snd thia mo and asid coats,"~~~ ~a ~u ~~ea„?trar aue ,~d pa,y Y able:nd slull be secured by lien oi this mortgag~e. ' 7. That he will kee~? the improvementa now existing or he:+~tsr erected on the mori~ Properts?. insnred aa.m~y be required fmm time to time by the mo~~ loss by rire and o er hazarda, easuaitiee. and 'oontingencies in such amounta and for aucb perl~m~? be r~inired by mo and wi11 ps~yp ptly, when da~e~ any premiuma on auch insuranoe ior ~ym~t ai wbich provisio~~ n~ not been m~?de hereinbetoreo All inaurance shall be carried in ooinp~ues approved by mortgsgee and the policies snd renewals thereoi ahall be held by mortgagee snd have attac6ed t6ereto losa payable ~ claases in lsvor oi and in torm a«:eptable to the mortgagee. In event oi less he wIU give imnaediste notioe by mail to mortgagee. and mortga~ee ma~y make proof oi 2ass if not made praaptly l~y mortgag~or. snd each insuranoe oompany concerned ia hereby anthorized and direated to malce p~,yment for auch loss directly to mortgagee instsad o! to raortgagor and mort~a~ee jointly. and the inanrance proceeds, or . ~part thereof, mt~y be applied by mortgagee at ita option eitLer to the reduction of the indebtednee~s : by e~cured or to the restoration or repair of the property damaSed. In event of iorecloaure of ttiia mortga,g~e or other tranafer of title to the mortgaged properky in ' ' ent oi the iadebtednems secured he~reby, all right, title, and interest oi the mortgaeor in and to an,y ~naurance policiea then in forc~e . sbsU pass to the purchaaer or grantee. - - ~ 8. That the mortgag~ee m~y. at any tima pending a suit upon this mortgage, apply to the court hav- . ing ~arisdiction thereof for the appoimm~ent oi s receiver, and such oourt shxll forthwith appoint a receiver o! the premises covered hareby all and a , including all s~ siagnLr the inca~ne. Proflta. . issues,.and rgvenaes from whatever sonroe derive~e~ch snd every oi which, it being expreasly under- atoocl„ ~e hereby mortgaged as if speciflcally aet fortb and described in the granting and habendum clauses = hereof. and anch rec~eiver ahall have all the brosd and effec~ve functions snd powera in anywiae entn~sted by s oourt to a receiver. and such appointment ahall be made by anch eourt ~s an admitted eqnity and a matter oi abaolate right to aaid mortgagee, and without reterenoe to the adequacy or inad- equacy of the value of the property mortgaged or to the solvency or insolvency of said mortgs~gor or the defendanta, aad that such rents, protita, inco~ne, iaanes„ and revenues shall ba spplied by auch reoeiver aooo~ to the lien of this mortgage and the practice of auch oa~. In the avent of any default on the ~ part oi e mortgag~or hereunder the mortgagorsgr~a to p~,y to the mortgagee on dem~nd s~s a reasoir . able aionthly rental for the prnmisea an amount at least e4uivalent to one-twelfth oi the aggregate oi the twelve i»ont~ily inatallments payable in the then cuneat year pins the ach~l ~nount of the u?nwl t~uces aesesam~?ts. water rat~s, snd insurance premiums ior snch yeu not eovered by the aforeauid mont~ly p~syments. ~ - ' 9. The mort,gagor further covenants that ahould thia mortgage and the note aecured hereby not be , eligible for insurance under the Natioaal Housing Act within 0.DA~S . from the date ~ereof ; (writtea atatement oi any- o~cer of the Federal Hous~ A~is tion or authorized ag~ent oi the Federal ~Iousing Commias~oner dated aubsequebt to the 0 DAY time iro~m tbe date of thia mortgag~e, declining to insure asid note and. thia ~aiortg~g~e, being ~deea~ed eonelnsive praoi of such in- eligibility), the mortgagee or the holder of the note may, at ita option, declsre all sums secured hereby immediately due and pay~tble. . - - - . - 10. That (a) in the event oi any breac6 oi thia mortgage or deisnlt oa the put of the mortQ~or or (b) in the event that any of said siuns of money hereia t~eferred to be not promptly ind fuUy paid w~th- ` • out denoand or notice, or (c) in the event that e~ch and every the atipnlationa. agree~nents. oonditions, ~ and covenants of aaid note snd this morlgage, are not du~r. promptly, and iully p~rformed; ~then in - either or any auch event, the said aggregste aum mentioned in eaid nate t6en remaininS unpaid with int8rest acerued to that time, snd sll naneya aecured hereby. a1u11 beoome dne and paysble fort~wit6, or thereafter, at the option of s~id mortgag+ee, ad iallq and oompletely us i! all oi the said sums oi money . wer~e orgtnally stlpulated to be paid oa auch day,sny thing in said note or in thia mortgag~e t~ the con~ry ~ notwitl~standing; and thereupon or thereatter, ~t the option oi said martgag~ee, wit6out notioe or demamm ~d. ~ ; auit at lsw or in equity. may be prasecuted as if all moneys secured hereby had mstured prior to its inati- ~ t - tution The mortgagee msy forecloee thia mo as to the amount so declsred due andp~yable. and ` ~ the aaid premisea shaU be aold to sstiafy and p~sy~same together with costa, e~cpensea. snd allowaacea. t In caae o! p a r t i a l ioreclosnr~e of this mo r t g a g e, the mo r t g~ a g e d premiaes ahail be soW aubject to tbe eon- ~ E - tinuing U~ oi tbia mortgag~e for the amount o! the debt n~ then du~ and unpaid. In auch case tt~e pro- ` visions of this P~ragi'sPh a~? u8~in be ~vsiled o! thereatter irom time to time by the mortga~ee. ~ ~ ' ll. That the mortgs~or wiU ~ive ~iate ~ no~ioe by ma~l to the mort~,gee oi aqy oonveyanoe, . s trawafer. or chsnge of ovirnership oi the premis~. ~ ~ 12 That no waiver of an~r oovenant herein or oi the obli~at~on aecured hereby ahaD at sW? tim~:~ t ~ thereafter be held to be s waiver oi the terms hereoi or o~ the note aec~red het~eby. • s~~ ~ 1 .