The URL can be used to link to this page

Home My WebLink About2719 . ' ' • ~ ` . • ~ ~'1 ~ ~ s ~1 . ~ ~J • ~ ~ • . •nd iwnranoe pre~aiunas. as the case m~? bataach exaea ahaU be credited by the mortg~?ee on subseque~t py+ments Lo be made by the mort~r. If, how~ever. the month~ p~yments made by ths mortgag~o~x andar (b) ad para~ph 8 preoedin~ sbaD not be sufficient to p~~T~round reats. taxes aad aase~samente and insnrsn~~s_premin~s~ as the case m~y be, whea the s~u?e s6aU beoome due and payable, then the , mortgagor bsu pay to the mo u aqy amount necesaary to make up the deQctency~ on or before tho ~ = date when payment of auch groun rents, tue~. aasesamenta. or inauranoe premiuma shsll be due. Ii ~ . at any tlma the n~a?rt,Qag~o~r a1~U tender to the mort~gag~ee in ~ocordance with the proviaions of the aote ~ aecu~red hereby~ fullp~ym en! of the entire indebtedneas repreaented therebY. the niortgagee shall. in com• puting the amount of auch indebtedneas, credit to the ~uxount oi the mortg~,g~or aUp~ym enta made under ~ the proviaions oi a) ot paragraph 2 her8oi which the mortgagee haa not become obligated to pay to the R ~ Federul Houaing oner and any balance remaining in the tunda a~xumulated under the pmvisions i oi (b) of aaid ph 2 If there ahall be a deisult under aqy oi the proviaions of tbis mortgage re- ~ anlting in s p lic aate oi the premiaea covered hereby or if the mortgagee aoquires the property ot~er~ ~ . wIee aftsr default, the mortgs~ee ahaU app~?, at the t~nae of the oommeno~aent oi auch proceedings or at t the time tha prop~rty is otherwise aoquired, the balanoe then remsinin~ in the funds xaumulated under ~ (b) ofparagr ph 2 preced' as a credit against the ~mount oi priicipsl then remaining unpaid uader ~ said note and aeball praperiy a~ust any pa~ymenta which shall h~tve beea m~uie under (a) of said paragraph. 4. Thst he will psy all ta~cea. aaaessments, water rates, and other g~overamental or municipal chargee~ ~ 8nea, or impositians, for whtch provieion haa not been ma~de hereinbe~or~e~ and in detault thereof the mort- SdB~e mqy pay the saine; and tLat he will promptly deliver the offici:?1 reoeipts thereior to the mortgagee. • b. That he will permit, com.unit~ or auffer ao waat~, impairment~ or deterioration oi said property or ~ a~ypa~ thereof; and in the avent ot the fuilure of the mortgagror t~ keep the buildinga .on aain premiaea , ~ ~nd ~hoae to be en~cted on said premiaes, or impmvement4 thereon, in good repair. the mortgagee may ~ make anch repaira as in ita discretion it may deem necessary for the pmper preeervation thereof, aad !he tull amonnt of ea~h and every such p~,yment shaU be immediately due and payable, snd ahall be secured by the lien oi this mor~gag~, . . 6. That hs will pay sU and singular the caste, cliarges. snd esPenses. inclu reasonsble lawyer's iees, and ew~ts oi ab~tracts of titie~ incnn~ed or paid at any time by tl~e mortga ~~euae oi the failure - on the psrt of the mortgagor promptiy and fut~y to pertorm the agr~ents and covenants oi said prom• ia~ry note and thia mort,gage, aad saia coata, charges, and eucpenaea ahall be immediateay due and pay able and e6a11 be secured by the lien ot this mortgage. 7. That he will keep th~e improvementa now eaiattag or hereatter erected on the mortgaged Property. inaured i+sm~y be required irom time to time by the mo loas by rire and other hazards~ casualtiee, and contingencie~ in such amounts and for a~ ~may be reqnired by mort~ga~gee, and will pay promptly. when da~e, sny premiuma on auch inanrance tor ~?ment of which pravision haa not been made hereinbefore. All insuranoe aLall be cartied in oo~apa~uee a . the liciee and renewala ther~.wf ~hall be held b mo PP=''~v~ by mortgagee and Pp Y rt8~ and have attached t6ereto loas pay~ble c]anaea in favor o! and in form aaeptable ta the mortgagee. In event of~ loas he wiU give immediate ~ notice by mail to mortgagee, and mortgs~ee m~y make proof ot laes it not made pmmpt~r by mort r " and each inauranee oampany concerned ia herebq suthorized and directed to make payment for au~ch ' loes dir~ectly to mortgagee inatsad ot to mortgagor and mortgagee ~ointly. and the insurance proceeda, or - any thereof, may be applied by morEgaqee at its option either•to the reductioa of the indebtedneas h~secured or to the reBtoratian or repair of the property damaged. ~n event oi foreclosure of thia mor~gage or other transfer of title to the mortgaged pmp~rty in eztinguish~ment of the indebtedneas aecured hereby, all right~ title, and intereat of the mortgagor in ~nd to aqy inauranoe policiea then in force ahaU paas to tha purchsaer or g~?ntee. . _ & That the mortgagee may, at aWr time pending s an~t upoa thia mortgag~e, aPP1Y ~ the oourt hav ing ~uriadiction thereof far the sppointrneat of a reoeiver. and auch caurt ahaU forthwith appoint a recPaver ot the premiaes covered hereby all and einSulai', including aU and singular the inoo~ne, proflts, iasnee, and revennes irom whatever souree derived e~ch and every oi ~vhich, it beiag ezpressly nnder- atood, ia hereby mortga:ged sa if apeci~icaUy set fortti and described in th~ granting and habendum clauaea hereof and auch receiver shall Lave sll the bros d and effective fnnctions snd powexa in anywiae entrua~ed by a conrt to s receiver. and sach appointment ahall be made by such caurt as an admitted - eqnity and a matter~ of abaolute right to esid mortgagee, and withont reference to t6e adequacy or inad. • equacY of the value oi the property mortgaged or to the aolvency or insolvency o! said mortgag~or or the defendants, and that auch rents, prn8ts. incom~ iasues, snd revenuea shall be applied by such receiver~• aaw~ to the lien of this mortgage and the practice of auch courk In the event of any defanlt on the part o! e mortgagor here~mder, the.mortgag~or agrees to pay to the mortgagee on demand aa a reason- able montlily rental for the premisea an annount at teast equivalent to on~-twelfth (~s) of the aggregate , ot the twelve monthly inatallmeats p~?able in the tben cnrrent year plus the actual amount o! the annual tases aeseaaments, water ratee, ~md Insaraace premimns for anch year not covered by the aforeaaid montfily payments. 9. The mortgagor further covenants that should this mort and the note secured hereby not be eligible for insurance nnder the Natioual Housing Act within ~DAYS from the date ~ereof (written statement of any o~cer of the Federal Housing Adiniaistration or anthorizet~ agent of the ~ Fed~eral Housing Commissioner dated subsequent to the ~ f}Av: j time from the date of thia mortgage, declining to insure said note and this mortgage, ing deemed oonclnaive proof of such in• eligzbility), the mortgagee or the holder of the note may, at ita option, deciare all aw~s secured hereby immediately due and payable. 10. That (a) in the event of any breach of thia mortgage or defautt oa the part of t~e mortgagror! or ~ (b) in the event that any oi ssid attms of money herein referred to be not prnmptly and fullq paid v~nth- out demand or notice, or (c) in the event that each and every the stipulationa, agreement8. oonditiona, and covenanta of said note and this mortgage, are not duly, promptly, and fully performed; then in either or any auch even~ the said aggregate sum mentioned in Said note then rea~aining unpaid~ with interest accrued to that time, at~d all moneys secured hereby, ahall become dus aad payable forthwith, or thereafter, at the option of said mortgagee, as fully and completely as if all oi the aaid auma of moneq . were orginall~r stipulated to be paid on Such day, aaything in aaid note or in this mortgage to the oon notwithstandwg; and thereupon or the~reafter, at the option o! said mortgagee. without notice or dema ~,d auit at law or in equity, may be proaecnted as if all moneya eecured hereby had matared prior to ita insti- tution. The mortgagee may foreclo~e t~his'mortgage, aa•to the amount so declared due andpayable, and " , the aaid premises ahaU be sold to aatisfy snd pay the aame together with cwate, eupenses, and alIowances. In case of partial foreclosure ai this mortgag+e, the mortg~g~ed premiaee ahall be aold subject to the ovn- tiauing lien of thia mort,gag+e ior tbe amount of the debt not then due and unpaid. In such case the pro- viaiona of this paragraph maq again be availed of thereafter from time to time by the mortgag~ee. 11. That the mortgagor will give immediate notice by mail to the .mortgag~ee oi a~y conveydnc,~ ; tranafer, or chang~e of ownerahip o! the premiaea. . ~ : 12. That no waiver of any oovenant herein or oi the obligstion aecw~ed her~eby ahall at any tin~e : therea#ier he held to be a waiver oi the terma hereoi or of the note secured h yR~ :E . , . ~ r E t