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Home My WebLink About0290 . . ~ - snd insur~,noe premiun~a. as the case m~y be auch exoas ahail be cr~dited by the mortga$ee on,eubaequent • ~nents to bs ttu~de by the mortgag~or. !t, however~ the monthly paymenfa made py the mortgagor ! under (4) o~ p~ra~raph 8 Areoedln~ ahall not be su~cient to p~~?~round rents, taxea aad asaesaments ~ and iusuranc~e~ premi~, aa the case may be, whe~a the s~ume ah~U beoome due and payable then the . mortgagor ahaU p~r to the mortgagee ~r amount nec~aaary tv make up the deticiency~ on or ~efore the t date when p~?ment o! auch groand rents, taxes, aasesameate. or inauraace premiuma sh~ll be due. Ii at any time the mortQagor ahall tender to tLe mortgagee in uccorda~ace with the pmvisiona oi the note ~ aecurcd hereby, fuUpa~m ent oi the entire indebtedneas represented thereby, the mortgagee ahall. in com- i puting the amount oi auch indebtedn~ ct~edit to the aocount of the raortgager allpaymenta made under the pmviaiona of (a) oi paragraph 2 her~eo! which the mor~tga~ee haa not bec,ome obli8ated to pay to the ~ Federal Houaing Commis~sioner And aay balance remaining in the funda acccumulated under the provisiona ! ot (b) of eaidparagraph Z. Ii there aha?U be a default under ~n,y of tAe pmviaions of thia mortgage re- aulting in a public aale of the pre~mis~ oovered herebyt or ii the mortgagee aoquirea the property ot~er- s wiae after default~ the mortga~ee a~aA apply, at the tune oi the oanmencement of such proceedings or at the titne the prnperty ia otherw~se acquired, the balanoe then remainia~ in the fY~nda accumulated under ~ (b) oips~ragraph 2 preced'ng as a credit againat the. smount o~ principai then remaining unpaid under s~d note ~nd ahaU Prnperly adj'uat sqy pa3?mente which ahsll have been made under (a) of aaid paragraph. 4. T'~at he will pay all ts~ces, aasesamenta, water ntes. and other governmental or municipat chargea, , 8nes, or impositions. for which provision haa no~ been made hereinbefore, and in default Lhereof the mor~ gag~ee m~y pay the ssme; and that he will promPtl3? deliver the officisl receipts therefor to the mortgagee. t b. That he wiU permit; oommit, or anffer no wast~ impairment~ or deterioration of $aid prnperty or # ~r part thereof ; and in the event of the failure of the mortgagor to keep the buildinga on Said premises ; and_ those to be erected on said premisea. or impmvementa thereon. in good repair. the mortgagee may t make such repaira as in ita discretion it may deem nec~ssary for the pmper preservation thereof, and the ( ~ full amount of each and evexy such payment ahall be immediately due and payable, and ahall be secured # by the lien oi thia mort~gage, , 6. ~?c ne ~?ui ~ ~a s~~ tne ~ts, ~h~, ~a including reasonable lawyer'a ~ i~s,, and oosta of abstracts of title, incurred or paid at any time by the mortgagee because of the failure on the part oi the mortgagor pmmptly and fuily to perform the agreP.menta and covenants of aaid pmm- ' issory note and this mortgage, and said easta, charges, and expena~s ahall be immediately due aad pay- ; able and ehaU be aecnred by the lien oi thia mortgage. i:- i 7. Th~t he will kee~ the imprnvementa now euiatiug or hereafter erected on the mortgaged property~ ' ineured as ma,y be required from time to time by the mortgagee ag~ainat loss by fire and other hazards~ ~ caaualtiea. and contingencies in such amounta and for such periods aa may be required by mortgagee. : and will payprom ptly. when due, any premiuma on such inauranoe for ~yment of which provision has ~ not b~een made hereinbefore. All insurance ahaU be carried in oompaniea approved by mortgagee and the polici~ and renewala tt~ereof ahaU be held by mortgagee and have attached thereto loss payable clauses ia favor of and in form aa:eptable to the mortgagee. In event of loss he wilt give immediate ' notioe by mail to mortgagee, and mortgag+ee may make proof of losa if not made pmmptly by mortgagor, and each itisnrance company concerned is hereby authorized aud directed to make payment for such . ; ~ lasa directly to mortgage~e instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or ~ ' ~ ~ aoy part thereof~ may be applied by mortgagee at i~a option either to the rednction of the indebtedness ~ hereby secured or to the restoration ar repair of the property damaged. In event of forecloaure of this mortgage or other tranafer of title to the mortgaged pmperty in extinguishment of the indebtedness ~ ~ aecured hereby, all right~ title, and interest of the mortgagor in and to any insurance policiea then in force ; ahall pasa to the purchaser or grantee. j, ; 8. That the mortgagee may. at any time pending a suit upon thia mortgage. appty to the court hav ~ ing jurisdiction thereof for the appointrnent of a receiver, and auch eaurt shall forthwith appoirt a receiver of the premises covered hereby sA and singular, including all and singular the ittcome, profits. ~ stood. hereby mortgaged h f svpecifically aet fortti a~nd described in the granti g and habend~umy clauaees . ; hereof, and such receiver shall have all the bmad and effective functions and powers in anywise ; ~ entntated by a court to a receiver, and such appointmeut shall be made by auch court aa an admitted ; equity and a matter of absolute right to said mortgagee, and witha~t reference to the adequ~cy or inad• equacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the ! defendants, and that such rents, profits, income~ isaues~ and revenne's shaU be applied by such receiver ' according to the lien of thia mortgage and the practioe oi such cotut. In the event of any default on the ; ~ part of the mortgagor- hereunder~ the mortgagor agreea to pay to the mortgagee on demand aa a reason- ! able montlily rental for the premisa an amount at least equivalent to one-twelfth (~;Y) of the aggregate of the twetve monthly instsllments payable in the Wen curreat year plus the actual amount of the annual R . ta~ces assesaments, water rates, and insurance premium~ for such year not covered by the aforesaid ; mont~lY Pa3?menta. - , ~ . ~ 9. The mortgagor further covenanta that should thia mortgage and the note secured hereby not be eligible for insurance under the National Housing Act within 30 days from the date hereof ! (writtQn staternent of any ofl5cer of the Federal Honsing Administration or authorized agent of the Federal Housing Commissioner dated subsequent to the a forea id time fmm the date of this mortgage, declining to insure said note and this mortgage,-being ~eemed conclusive proof of such in- eligibility), the mortgagee or the holder of the note may, at its option, declare all sums secnr+e~l hereby ~ immediately due and payabte. . 10. That (a) in the event of any breach of this mortgage or default on ~ part of the mortgagor, or (b) in the event that any of ssid sums of money herein referred to be not promptly and fully paid with- out demand or notice, or (c) in the event that each and every the stipulatiotis, agreements, conditions, and covenants of said note and thia mortgage. are not duly, promptly, and fuliy performed ; then in either or any such event, the said aggregate sum mentioned in said note then remaining unpaid, with interest aocrued to that time, and all moneys secured hereby, ahall become due and payable forthwith, , or thereafter, at the option of said mortgagee. as fully and compietely as if all of the said sums of money ~ ~ were orginally stipulated to be paid on such day, anything in said note or in this mortgage to the contrary ~ notwithstanding; and thereupon or thereafter. at the option of ssid mortgagee, without notice or demand, suit at law flr in equity, may be pro~ecated a$ if all moneys eecured hereby had matured prior to its insti- ' totion. The mortgag~ee may #oreclose thia mortgage, as to the amount so declared due and payable, and ~ r; the said premises ahall be sold to satiafy and pay the same together with co~ts. expenses, and allowances. In case of partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con- tinuing lien of thia mortgager for the amount of the debt not then due and unpaid. In such case the pro- v~siona of this paragraph may again be avaiYed of thereafter frnm time to time by the mortgagee. ~ 2!. That the mortgagor will give imraediate notice by mail to the mortgagee of any conveyance, , tranafer, or change o~ ownership of the premisea, - : 12. That no waiver of any covenant herein or of the obligation aecured hereby shall at anq time ~ thereafter be held to be a waiver of the terma hereof or oi the note secured hereby. ; . ' ~b~x 93 «~c ~89 _ ~