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snd inanrance premitm~a, as the cass mqy be~ auch ezoeea ah~tU be crediLed by the mortQa~ee on subaeQu+ent ~
p~ymenta to be made by the mortgaQor. Ii, however. the moatt?ly paymenta made by the morkg~g~o~r • •
nnder (b) o~ parr~raph S precsdin~ aLaD not be au~cient to p~~y~round rents, ta~~es and aaaeasments '
end in,suranc~e~ prem~um~ ~s the case m~~y be, whe~n the same ahall beoame due and p~ynbl then the +
mort~ngor shaU ps~y to the mort,gagee aqy uaount neceesary to make up the deikiency~ on or~fore the ~
date when p~yment of auch ground rents, taxea. a~seeamenta, or insuranoe premiums ahall be due. I! '
at aTMy time the mortg~gor s6aU tender to the mortgagee in a~ocordance with the provieions o! the note !
aecured hereby, fullpa~m
ent oi the entire indebtedneae repreeented thereby. the mortgagee ahall~ in com• . ;
puting the amouni oi auch indebtedneaa, credit to the aceount oi the mortgagnr a1lpaym ents made nnder ~
the prnviaions of (a) of paragraph 2 hereoi which the mor~tgagee haa not become obligated to pay to the ~
Federal Houaing Commiasioner und any balance m t~ie funds ~?ccumulated wi~er the proviaiona
of (b) oi said ph 2 u there ehall be a d~fault un er any of the provieiona of this mortgage re-
anlting in a pu lic aale oi the premiaea oovered hereby or if the mortgagee aoquiree the praperty ot~er-
wiae a#ter default, the mortgs~ee ahall app~y?, at the t~me oi the o~mmencement oi such proceedin~a or at ~
the time the property is otherw~se aoquired, the balance then remainin~ in the funda aocumulated under ~
(b) oiparagr~ph 2 p ~a a credit againat the amowit of prtncapal then r+emaining unpaid under ;
aaid note and ahall pro~uat uny paymenta which ahall have bee~? made under (a) oi aaid paragraph. ~
4. That he will pay all tase~, aaseasmenta, water rat~ea. and other g~overnmentat or mnnicipal charges,
- flnee. or impositic~ ior which provision has not been made hereinbefor~ snd in default thereoi the mort~
~~tges mqy pay the aame; and that he vrill px~omptly deliver the official receipts therefor to the mortgagee.
6. That he will permit~ commit, or suffer no wast~ imp~irment, or deterioration of aaid property or !
E any part thereoi; and ia the event o! the failure of the mortgagor to keep the buildin~a on said premisea ~
and thoae to be erected on aaid premises, or improvementa thereon~ in good repair. the mortgagee may ~
~ make auch repaira aa in ita discretion it maq deem neceasary for the proper preaervation thereof, and the
- full amonnt of each and every such payment ahall be immediate~y due and pa,yable, and shall be secured -
- by the liea ai this mort~qag~~, .
8. That he wiU pay all and aingular the oo~ta, charges, and eupenaes, inclu reaaonable lawyer'a
feeq, sad ooeta of abstracta of title~ incurred or paid at any time by the mortgagee~use of the failure ~
on the part of t'ae mortgagor promptly and fnlly to perform the agreements and covenanta of said pmm-
. iasory note and this mortgag~e, and ssid eo~ts. chareeB, a~ld e~penaes $hall be immediately due and paq-
able and shall be aecured by the lien ot thia mortgsge. -
7. Tlut he will kee~ the improvements now existing or hereafter erected on the mortgaged property~
~ iasured as may be requu~ed from time to time by the mortgagee againat loe~ b tfre and,other hazards~
casnalties, and contingenciea in such amounta and for auch perioda aa may E~'~equind ts~? mortgagee
and will pqppromPt1y. when due. an,y Premiuma an such inaurance for paym~ri~.bf which prbvisibn has .
not been made hereiabefore. All insurance ahall be carried in oonapan~'ea epp'r'oved~ by niortgagce and
the policies and renewals thereof ahall be held by mortgagee and have attached ttiereto loas payable .
clauaea in favor oi and in forna acceptable to the mortgagee. In event of Iosa he will give immediate '
~ notice by mail to mortgagee. and mor~g~ag~ee may make proof oi k~a if not made pmmptly by mortgagor,
~ and each in,suraace company concerned is hereby authorized and directed to make payment for such
~ l~a directly to mortgagee inatead of to mortgagor and mo ~o~ntly, and the insurance proceeds, or
. any thereof, may be applied by mortgagee at ita option~~er.tfl the reduction of the indebtedness
' h~secured or to the re~tsration or repair oi the property damaged. In event of foreclosure of thia
mortgage or other trsnsfer of title to the mortgaged property in eutinguiahment of the indebtednesa
aecured hereb , all right, title, and intereat of the mortgagor in and to any int~ursnce policiea then in force
i
a6all pasa to e purchase~c or grantae.
8. That the mortgagee may. at aay time pending a euit npon tt?is mortgage, apply to the court hav -
ing jnriadiction thereof for the appointment o! a receiver, and such eourt ahall forthwith appoint a
~ receiver o! the premises covered hereby all and singular, including aU and ain~ular the income, pmfita,
iasnes, and revenuea from whatever souroe derived, ~ch and every of which. it being expresaly under-
he
~f~ahnd~sach~~eive~r ~at?ail
h~ave~atl the b
oad
and~~e funct~o~~ and d habeudwn clauses
entrvated by a court to a receiver. and auch a 1~~~'s in anywise
ppointment shall be made by auch court ae an admitted ~
equity and a matter of absolute right to said mortgagee, and without reference to the adequacy or inad-
. equacy of the value of the property mortgag?ed or to the solvency or inaolvency of said mortgagor or the
defendanfa, and that euch renta, praflts, income, iesues. and revenuee sh~all be applied by such receiver
' acxo~ to the lien of this mortgage and the practice of such oourk In the event of any default on the
• part of e mortgagor hereunder~ the mortgagor agreea to pay tfl the mertgagee on demand as a reason-
able monthly rental for the premiaes an amonnt at least equivaient to one-twelfth of the ag~regate
of the twelve monthl,y installmente payable in the then cnrrent year plua t6e actnal amount of the annual
tazes aasesements, water rat,~s, and inaurance premiuma for such year not covered by the aforesaid
. mont~ly payments.
9. The raortgagor further covenanta that should this mortgage and the note secured hereby not be
eligible for insurance under the National Housing Act within gQ pp~~ from the date ~ereof
' (written statement of any o~cer of the Federal Housing Ac~un~s"tYa'[ion or suthorized agent of the
Federal Hausing Commissioner dated subsequent to the30 pAYS tinne from the date of thia
; mortgage, declining to insure said note and thia mortgage, bemg deemed oo~r~lasive proof of such in -
eligibility). the mortgagee or the holder of the note may, at its option. declare all $ums secured hereby
irawediately due and payable. _
10..That (a) in the event of any breach of thia mortgage or default on the part of the mortgagror. or
(6) in the event that any o! said sum$ of money herein referred to be not prnmptly and fully paid with-
out demand or notice, or (c) in the event that each and every the atipulationa, agreements, conditiona,
and covenanta of said note and this mortgage, are aot duly~ promptly. and fully performed; then in
either or any such evenk the said aggregate sum mentioned in said note then remainiug unpaid, vPith
interest aocrued to that time, and all moneya secured hereby. shalt becwme due and payable forthwith,
ur thereafter, at the option of Said mortgagee, as fully and completely as if all of the said sums of money
were orginally stipulated to be paid on such day, anything in said note or in thia mortgage to the oontrary ~
notwithstanding; and thereupon or thereafter. at the option of said mortgagee, without notice or demand. ~
suit at taw or in equity. may be pro~ecuted as if all moneys secured hereby had matured prior to ita insti-
tution. The mortgagee may foreclose tkis mortgage, aa to the aonount so declared due andpay
able, and ~
the said premises ahall be aold to satisfy and pay the same together with costs, expensea. and allowances. i; .
, In case of p~artial foreclosure of this mortgage, the mortgaged premises ahali be sold subject to the can- ~ ~i
, tinuing lien of this mortgagr for the Rmount of the debt not then due and unpaid. Tn anch case tfie pro- C~
~ viaions oi thia paragraph may again be availed of thereafter from time to time by the mortgagee. ~
ll. That the mortgag+or w~ll give immediate notice by mail to the mortgagee oi any conveyaac~
; tranafer, or change of ownerahip of the premisea.
; 12. That no waiver oi any covenant herein or of the obli
~ gation secured hereby shail at any time 'I
~ thereafter be held ±o be a~vaiver oi the terms hereoi or o~ the note sectu~ed hereby. t