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Home My WebLink About0298 ~ . _ - ~ / ~ ; . . , •nd insaranca premina~s, iu the case may be~ancli sxceea shall bs credit~ed by the mort~a~ee on sabsequent ~ p~nenta to bs m~de b~ the n~ortQa~or. u, however, tl~s monthly p~Urmenb made by the mortQa~or ! aader (b) ad pera~ri?ph 8 preoedin~ slull not b~ sufficient bo p~~ ~e+o d rante. tua and assesamente and inanranc~e~ prenaiun~ as t6e case m~? b0. whea ths same ahall ~beoo~me due and F4yablq th~sn the mort,~agor at~sU p~y to the m rt~~ee sa,y ~aonnt neceeaary to m~ke up the deflcienqr, on or beiore the ; ~ date when payment of auch g n~wn~ rents, tazes. ~aseesments. or insuranoe premiums ahaU be due. Ii a t a q y time the mo r t g~ g o r d?all tsnder to the martgag~ee in aocordsnce wit4 the proviaioas oi the note ~ secured herebY. f~ A~1?ment oi the entire i n deb t e d ness repreeen t s d t h e r+ e by. t he m o r t,~ s g~ e e a h a l l. in oom- puting the suw~nt oi auch iadPbtedness, credit to the account oi the mort~agor sUpsym enta made under ( t he.provisiona oi a) oi par~grap h 8 hereo f w h i c h t he mo h a s ao t b e o o me o b l i y a t e d t o p~y t o t he ~ Feden~l Houain~ ~oner and aqy balanoe rie~n~ning~iunds accumulstcd under the proviaions ~ ~ oi (b) oi aaidu~ph S. If there ehall be a default under aay oi the pravisions o! t6is morltea~e, re- I ` anltin~ in a p lic aale oi the premises oovered hereby or ii the mort,~agee uires the property otheY+~ 4 wiee atter deiault, tha mortga~ee ahall sPpl~?. at the t~me oi the eomn?enceruen oi such proceedinga or at ( the time the pro~y is othervv~se aoquired, the balanoe then re~uinin~ in the funds accumulated under ! (b) o! p~ 2 p as ~ c~dit ~gainst the anwemt oi p~ac~pal then remaining unpaid under ; s t ~ i d n o F~ s h ~ ~ ll p r o~us t a n y p~ y~enta a?hich +~ull 1~?~?e been made under (a~ oi said p a r a g ra ph. 4. That he will pay aU tauce~ ~aseeaments, wster rates, snd other governmental or muinicipal charges, ~ !lnea, or impo~sitions, for which proviaion has not been made hereinbefore. and in defaWt thereoi the mort~ ~ ~agee may pqy the same; and tbat he will promPtlY deliver the official receipts therefor to the mortgagee. b. That he will permit, oammit, or suHer no waste, impairment, or deterioration o! aaid pmperty or ~ any part thereoi; and in the event oi the iailnre of the mortgag~or to keep the buildin~a on aaid premiaea ~ and thaee to be erected on said pr~nisea. or improvementa thereon, in good repair. the mortgagee may ! make anch repsira ius tn ita discretion it ma,y deem nec~aary for the proper preeervation thereof, and the !nll amonnt of each and every auch psyment ahall be immediately due and payable, itnd ahaU be secured by the Hen of thia mortgage. , 6~. Tlwt he wiU p~r all and singular tlie ooate, charges. ~nd espenaes„ including rcaaonable lawyer'a iees, and co~ta of abatracts o~ title, incurred or paid at sny time by the mortga~ee becauae oi the iailure on the psrt of the mortgxg~or promptly and fuUy to pertorm t6e sgreementa and covenanta of aaid pmm~ • iasory nate and :his mo ~ge and aaid oo~ata, chargee, aqd e~cpenaes shall be immediate~j? due and pay sble'und shall be eecuired by t6e lien oi t4ia mortgage. ~ ' 7. Thut he will keeF the improvements now exiatiug or herea~iter erected on the mort,gaged Pmperty. . - inanred as m~y be r~quued fmm time to time by the mo againat loas by tire.and other hazard~. caaualtiea, and contingenciea in auch amounts and for a~ od~ as may be required by mor~t~;agee, . snd will p~,ypromptly. when due~ sny premiuma on auch inaur~aee for payment of which provision haa not bcea made hereinbefore. All inaurance ahall be carried in oo~mpa~uea approved by'mortgagee and ' the policies and renewals thereof ah$ll be held by mortgagee and have attached thereto loea payable clsuaes in isvor oi and in form aooeptable to the mort~gagee. In event of loaa he will give immediate notice by mail to mortgage~ ~nd mortga,~ee ma,y mske proof of lo~ea if not made pmmptiy by mortgagor, . ~d ead? inauranoe eompaqy conoerned ia hereby authorised and directed to make payment for such . loea directiY to mortgagee instead of to mortgagor and mo ~a~e ~ointly, and the inaurance proceeds, or aay thereof~ msy be spptied by mortgagee 8t it8 optioA~ either•to the reduction oi the indebtedneas , h~secured or to the r~toration or repair of the property daTnaged. In event of foreclasure of thia ~ mortgage or other tranafer ai titie to the mortgaged prnperty in _ eztia$uiahment oi the indebtedneas - secured hereb y. aU ri g h t, titl e, and interest of the mortgagar in and ta any msnrance policiea then ia ioree . shall pass to the purchaser or grantee. . 8. Thst the mortgagee may, st any time peading a anit upon thia mortgage, apply to the oourt haw iag ~nrisdiction thereof for the nppointment oi a receiver, and such eourt ahall forthwith appoint a receiver ot the premises covered hereby all and eing~lar. including ~U and singular the income, pmfits, iasuu~, and re.wenues frnm whatever souroe derived, each and every oi whic,h, it being expressly under- atood, is hereby mortgaged aa if specitkaUy aet iorth and described in the grantirig and habendum cl~uaea hereof, and auch receiver ahaU have all the bmsd and effe~tive functions and powera- in anywiae - entrnsted by a couit to a receiver. and auch appointment ahall be made by such court ss an admitted equity and a matter of abeolute right to aaid mortgage~. and ~vithont referenoe to the adequacy or inad- equacy of the value oi the praperly mortgaged or to the 8olvency or insolvency of said mortgagor or the defendante, and tbst auch r~nts, pmftta, income, isauea, and revennes ahall be applied by auch receiver ' aooo~~ to the lien of this mortgage and the practioe of such conrk In the event oi any defiatt on the part of t_he martga~or hereunder ttie mortgagor agrees ta pay to the mortgugee on demand aa a rPaaon- able monthly rental for the prem~ses an amaunt at least equivalent to one-twelfth of the aggregate of t6e twelve monthly installments payable in the then current yesr plns the actual amount of the annual tas~ aasesamenta,. water ratea~ and insurance premiums for auch ye~r not covered by the aforesaid _ mont~ly paymenta. ~ 9. The mortgagror further covenants that should thia mortgage and the aote secured hereby not be eligible for insurance under the National Housing Act within 34 ppyg irom the date fiereof (written statement of any officer of the Federal Iiouaing Adminiabc~ition or suthorized agent of the Federal Iiousing Comrruasioner dated subaequent to the 3Q DAYS time from the date of thia mortgage. declining to insure said note and this mortgag~e. l~eing deemed coir~lusive proof of such in eligibility), the mortgagee or the holder of the note may, at ita option, declare all auma secured hereby - immediately due and payable. 10. That (a) in the event of any breach of tfiia mortgage or defsult on the part of the mortgagor, or (b) in the event that any oi said swns af money herein referred to be not pmmptly and fully paid with- out demand or notice. or (c) in the event that each and every the atipulations, agreementa, oonditions, and covenanta of said note and this mortgage, are not dntq, promptty. and #ully perform~ed; then in either or any such evenk the said aggregate sum mentioned ia said note t3~en remaining unpaid. with ittterest acerued to that time, and all moneys secured hereby, shaU beoon~ due and payable forthwith, or thereafter. at the option of said mortgagee, as fully and oompletelq aa if alt of the said sums of moneq : were orginall~r stipulated to be paid on such day. anything in ~aid note or in thia mortgage to the oontrary i notwithstanding; and thereupon or thereafter. at the option of said mortgagee, withont notice or demand, auit at law or in eQuity, may be prasecuted as if all moneys secured hereby had matured prior to ita inati- tution. The mortgagee may torecloee this mortgag^e, aa to the amount ao declared due andpayab1~ and ~ the said premises ahall be sold to satiafy and pay the same tog~ether with oosta, ezpenaes, and allowances. In case of partial foreclosure of thia mortgage. the mortgaged premi8ea shall be sold subject to the con- tinuing lien of this mortgage for the amount of the debt not then due and unpaid. In snch case tlie pro- viaions of tt?iu paragraph may again be availed oi thereaiter irom time to time by the mortgagee. mo il. That the mortgagor will give immediate notice by mait to the mortga any , vey transfer. or chang~e oi ownerahip oi t6e premises. ~ f~_~ ~'7 12. Thst no waiver oi aay cove~ant herein or oi the obligation eecured hereby shsll st sny time thereafter be held to be s wsiver at tiw t~ra~s hereof or oi the note aecut~ed hereby. . ~