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and insuriunoe premiums, us the caae m~r bezauch e~cceea shsll be caredited by the mortgugee on aubsequent t j
pe~ymenta tio be made by the mortgagor. ii, however, the mont~hly ~yraenta made by the mortgag~or
ander (b) od psragraP~? 8 Preoediag ahaD not bs aufficient to pa~yground =eats. taxes and aaaessmeuta
and inanranc~e~~remiums~ as the caee ma~y be, when the eame shsll beoome dne and psyabl then the ~
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~ mortgagor sltiall p~? t~ the mortSagee anY anc?ount neee~saary to make np the deticiency. on or ore the
date whan p~nent oi such ground renta, taxea, assessments, or insuranoe premiuma ahall be due. It !
~ at any time the morteaBor aha11 tender to t~?e mortgagee in aooordance with the proviaions oi the note ~
aecured hereby, full payment oi the entire indebtednesa repreaented thereby. We mortBsSee ahall, in com• '
pnting the amount of anch indebtednesa. credit to the account oi the mortgagor allp~ym enta made under
the proviaiona ot (a) of paragraph 2 hereof which the mor~tga~ee haa not become obligated t4paY to the
Federal Houain8 Com~~ioner and a~y balance remaining in the funds accumulated under the pmvisions
. of (b) oi aaidparagraph 2. If there aha11 be a default under any o~ the proviaiona of this mortgage re- .
aulting in a public aale of the premiaea .cRverecl hereby, or if the mortgaeee aoquirea the pmperty ot~er~
wise aitsr default. the mortBa~ee ehall apply, st the time of the commencement of such proceedinga or at
b~ ti ~
e the p
ppher~typ ia otherw~ae ao9uired, the balance then remaining in the funda accumulated under
paragr ~din~~as a credit against the amount of principsl then iemaining unpaid under
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4. That he ~vill pay sll taaes, aaseasmenta, water ratee, and other governtnental or municipal chargea,
~nee, or impoaitions, for which prnvision has noi been made heninbefore. and in default thereof the mor~
~ gag~ee m~1r pay the aame; and that he will prompt~y deliver the official receipta therefor to the mortgagee.
g. That he wi11 permit, commit, or suffer no waste. impairment, or deterloration of aaid pmperty or
~ ~ thereof; and in the event of the failure of the mortgagor to keep the buildings.on sain premiaea
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and o~e tfl be erected on said premisea, or impmvementa thereon, in good repair, the mortgagee ma,y
make anch repairs as in its discretion it may deem neoessary for the proper pr~ervation thereof~ and the
. inD amount of each and every such payment ahall be unmediatel,y due and payable, and ahall be secured
~ by the lien o~ this mortgage.
6. That he wiU pay all snd aingvlar the oosts, charg~, snd expense~, including r~asonable lawyer'a ,
fee~ and ~ta of ab~tracts of title, incurred or paid at aqy time by the mortgagee because of the failure
on the p~urt of the mortgagor promptly and fuUq to perform the agreementa and covenanta of said prom- '
iseory note and thia mo a~e and said oosts, charges, and eocpenaes ahall be imraediately due and p~y- `
able and aS~ll be aecured
b~t
y the lien oi thia mortgage.
=_r_ That he will kee the improvementa now exiating or hereafter ~rected on the mortgaged property. ~
. ~Y.[qi ~•m~~ ~u _ a._ a___ ~ _l<_~ L~~~..~_
fmm LUne io iime Dy Ule mor~g~ ag~unaL ioaa uy s,rC t~uu vwer uor.e.cua.
caanalties, and oontingencies in auch amounta and for auch periods sa may be required by mortgagee,
and wi11 pay promptly, when due, any premiums on such inaursaee ior ~yment of which provision has '
not beP.n made herembefore. All insurance shall be carried in compa~u~ apprnved by mortgagee and
the policies and renewals thereoi shall be held by mortgag~ee and have attached thereto losa payable -
clanaea in favor of and in form aoceptable to the mortgagee. In event of losa he will give immediate _
~ notics~y mail~to mortgagee. and mortgagee may make proof o~ losa if not made promptly by mortgagor,
~nd eac~ inaurance company concerned is hereby suthorized and direeted to make payment for suc6 .
. ioea directly. to mortgagee instead of to mortgagor and mort jointly, and t6e inaurance proceeds, or -
-any thereof, may be applied by mortgagee at its option ~r to the reduction of the indebtednesa
. h~seeurec~ or to the restoration or repair of the pmpertY damaSed. In event of foreclosure of thia
-~nort,ga,g~e or. other tranafer of title to the mortgaged prnperty in extinguiahment oi the indebtedneas
aecnred hereby, all right, title, and interest of the mortgaSor in and to any inaurance pohcies then in force .
ehall pasa to the purchaser or grantee. .
; 8. That the mortgagee maY; at any time pending a,awt upon this mortgage. apply ta the court hav'
' iag jnriadiction thereof for the appoinl~ent o~ a receiver. and such oourt shall forthwith appoiut s
receiver of the premises covered hereby all and singnlar, including aU and aingular the_ inoome. prnfits,
. iaau~, and revennea frnm whatever souroe derived, e~ch and every o! which, it being expreasly unde~-
stood, ia hereby mortgaged aa i! apeciftcally set ioith and described in the granting and habendum cla~aes
hereoi. and snch receiver ahaU have all the broad and effective functiona and powers in anywiae
entruat~id by a court to a receiver, and such appointment ahall be made by such court aa an admitted -
rua
. eqnity and s mattsr of abaolute right to said mortgag~ee, and without reference to the adequacy or inad-
eqnacy of the value of the praperty mortgaged or to the eolvenr.y or inaolvency of said mortgagor or the
defendanta, and that auch renta, pm5ta, income, issues, and revenuea ahall be applied by such receiver
sec~o~to the lien of this mortgage and the practice of such conrk In the event of any default on the
~
~ pait of e mortgagor.her~eunders the mortgagor agreeg t~o psy to the mortgagee on demgnd as a reaaon-
~ able monthly rental for the prem~ses an araount at least equivalent to one-twelfth (3is) of the aggregate
of the twelve montlily inatallmenta payable in the then current year plua the actual amount of the annual
tszes a~aeaamenta, water rates~ and inaurance premiums ior such year not oovered by the aforesaid "
mant~ly paymenta. ' . . -
~ 9. The mortgagor further covenants that should thia mortgage and the note secured hereby not be
~ elig?ible for insurance under the National Housing Act within 3Q ppy~ frnm the date hereof
` (v~ritten statement of any officer of the Federal Housing Adminis"f,~'~tion or suthorized agent of the
~ Federal Housing Commissioner dat~d subsequeht to the ~0 pAY5 ~e fmm the date of this
mortgag~e, declining to inaure said note and- this mortg~ge, 6emg deemed oonclusive proof of such in-
eligibility), the mortgagee or the holder- of the note may. at its option, declare all suma secured hereby -
immedistely due and payable. . . .
10. That (a) in the event of any breach of fihia mortga or default on the part of the mortgagor or
(b) in the eveat that any o! aaid auma of money herein ref
~erred to be no~ pmmptly and fully paid w~th-
. out demand or notice. or (e) in the event that each and every the atipulationa, agreementa, conditions,
~ and covenanta of said note and thia mortgage, are not duly, promptly, and fully performed; -then in
either or any such a~ven~ the said aggregate snm mentioned in said note then remainiug unpaid. with
k intereat accrued to that time, and all moneya secur~ed hereby, aha11 become due and payable forthwith,
> ' or thereafter, at the option of aaid mortgagee, aa fuUy and completely as if ali of the said aums of money
" . were orginally stipulsted to be paid on such day. anything in said note or in thia mortgage to the contrary
- natwitl~standing; and thereapon or thereafter, at the option of said mortgagee, without notice or demand, ,
~ suit at law or in equity. may be prosecuted as if all moneya secured hereby had matured prior to its inati-
; - tution The mortgagee may foreclos~± thia mortgag~e, aa to the amount so declared due and payable, and ~
~ the said premises shall be aold to satisfy and psy the same together with costs. expenses. and allowancea. -
~ In csse oi partial forecloaure of thia mortgage, the mortgag~ed premisea shall be sold subject to the cwn-
~ tinuing lien oi thia mortgage for the amount of the debt not then due and unpaid. In such case the pro-
$ visiona of th~s paragraph may again be availed o! thereafter fmm tune to time by the mortgag~ee. -
~ ~ il. That the mortgagor will give immediate notice by mail to the mortgagee oi any conveyano~
~ , transfer, or c.hange of ownership of the premisea. . .
~ 12. That no waiver of any covenant hereia or of tihe obligation secured hereby ahall at any time '
~ thereafter be held to be a waiver of the terms hereof or of the note secured here~~it~ .(1~ ~ 1~