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Home My WebLink About0608 , . . ~ ' ~ . ~ • • , . ~ ' ; and insnr~ncs p~+emimns, aa the case m~r be~ancL exoees sh~ll be credited by the mortgagee on subaeque~t ~ p~y~ments to bs m~de by tbe nwrtga~or. u, hoWever, the monthly pqyaienfi~a aude by the mort,~a~or ; ander (b) o~ p~ur~raP~? 8 Precedin~ s6a11 not bs su~cient to p~1?~roumd rente. t~?aes and assesaYneate ~ and insnr~?nce remi ~s the case m~? be, when the same ahall beooana due and p~abl then the ; ~n~ ~p was,, mort~or s~U pay to the mor~~ ~uy? amaunt neceeeary to make up the deflciency, on or ore the ~ ; date when payment ot such ~roun- d- rantq, t+u~es, a~eeaments. or insurance premiuma ahall be due. It _ i at aoy tims the morkgaQor abaU tender to the u?ort~ga~ee in a~ocordance with the proviaiona oi the note aecured herebY. fiillp~m ent ot the enti~te indebt~dness repreeented thereby, the mortgagee ahall. in coJn- i putins the amount oi auch ind~tsdnera, credit to the acoount oi the mort,~a~or aU p~yments made under the provisiona oi (a) o! paragraph 2 hereoi which the morkga~ee has not beoome obligated to pay to the ' Fedenl Houaing Conunissioner and sny balanoe ri~ m the funds aocumulated under the proviaiona ~ oi (b) oi said ph 2. If there shall bs a defautt un er aqq of the provisions oi this mortgage re- ~ sultin~ in a pu lic aale oi the premiees covered hereby or ii the mortgs~g~e aoquir~ the property ot'her- ~ : wiae atter default~ the mortSa~ee ahsll app~li, at ths t~nae of the oommencement ot auch proceedin~s or at ~ _ . the time the pro~ is otherwuse ~oquired, the balance thea r8msining in the funda aacumulAted under (b) o!paragrap 2 p as a credit against the amount of prmc~Iul tben remaiuing unpaid under ~ said note and shall prop~w~t anY PaYments which ahall have been msde under (a) oi said pan~graph. . 4. That he will p~? all ta~ea, aeseeaznenta, wster ratee, and other gmrernmental or municipsl ~-h- ar8~. ~ flnes, or impositiona. for which proviaioa has not been made hereinbeiore, and in default thereoi t6e mort~ ! gag~ee msy p~y the same; and that he wiU gromptly deliver the o~cial reeeipta therefor to the mortgagee. b. '1`hat he will permit, c~ammit~ or auffer no waste. impairment, or deterioration oi said ~roperty or E any patt thereoi; and in the event of the tailnre of the mort~a~or to k¢ep the buildin~a on aud pr~misea - ! . and thoee to be erected on aaid pr~?ises, oz impmvements t~iereon. in good repair, t6e mortg~gee may ~ make anch repairs aa in ita discretion it m~y deem necesasry for the proper p~rva#ion tbereof, and the . fall amount oi each and every auch payment shaU be immediately due and payable, and a6aU be secured ~ ~ '3 by the lien of this mortgage, ~,?t hs ~i ~p au ~a ~?r t~ oo~, ~na ~n~~t~i~.son.t,~ u ~s ! and co~ta of abstracta of title~ incurred or paid at any time bp the mo uae af the i~ure eee, co ' ~ ~ on the part of the mortgagor prnmptiy and fu yto periarm the agreementa sn covenants e~ saidpr~~m• i- F ~ ieaory note and thia mo ~e anci s~id costs.~c:har~ee, ~d espcnses ahall be immediatebt due sod pay- ~ ~ sble und a6all be aecured bt y the lien of t~?ia mortgage. 7. That he wiD keep th~e improvementa now e~dsNng or hereat'ter erected on the morl~ P~PertY. j inswcea ~s m~y be required irom time t~ tiaae by the mo a~a ~'nat Ioss by flre and er h~tsatds. caaualties, and contingencies in auch amounta and for au~ oda as may be reQnired by mort,ga,gee, and will pay ptly, when due, an,y premiwns on auch insurance for ~ment oi which proviaion haa not been e hereinbefore. All inaurance shall be carried in oompawes apprnved by mortgagee and ' the p olici~ and r~newals thereof ahall be held by mortgagee and have attached thereto losa pa,yable claases in fsvor of and in form aa~eptable ta the mortgagee. In event o i losa he w i ll give i n a m e d iate no4ae by mail to mortgagee, and mortga~ee may make proof of loss if not made promptly by mortgagor, and esah inauranoe oompanq concerned ia hereby suthorized and directed to make payment for auch . ...loes direct]y to mortgagee instead oi to mortgagor and mo ~ointly, and the inaurance proceeds, or aay thereof, ma,y be applied by mortgagee at ita option~~er•to the rednction of the indebtedneas ~ h~aecured or to the restoration or repair of the roperty damaged. In event of toreclo~ure of thia - , morEgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness . secured hereby. all right~ title, and intereat of the mortgagor in and ta any insurance policies then in forae ahsll pase to the purchaser or grantee. ~ . . ~8. Thst the mortgagee may, at any time pendiag a snit upon t~hia mortgage. apply to the court hav- ing jnriadiction thereof for the appointraent of a receiver, and snch court ahall forthwith appoint a receiver of the pr~mis~ oavered hereby all and singular, inclnding all and aingular the income, profita, ~ iasuea, 8hd revennes from whatever source derived~ each and every of which, it being expreasly nnder- ~ etood, ia hereby mortgaged as if apecifically set forth and deacribed in the granting and habendum clausea hereoi. and auch reeeiver shall have all the broad and eltective functiona and powera in anywiae entrusted by a court to a receiver. and such appointment ahall be made by such court aa an admitted _ ~ equity and a matter of absolute right to aaid mortgagee, and without referenoe to the adequacy or inad- - equacy of the vaIue of the property mortgag~ed or to the solvency or inaolvency of said mortgagror or the defendanta, and that such rents, pmfits, income, iaaues, and revenuea shall be applied by such receiver ' aoco~~ to the lien of this mortgage and the practice of such conrk In the event of any defauIt on the part of t~e mortgagor hexennder~ the mortgagor agrees t~? pay to the mortgagee on demand aa a reaeon- able monthly rental for the prem~aea an amount at leaat equivalent to one-twelfth of the aggregate of the twelve monthly inata]Unenta pa,yable in the then curnnt year plua the actual amount oi the annual tases asaesaments, water ratea, snd inaurance premiuma for auch year not covered by the aforesaid ~ mont~ly psymenta. - 9. The mortgagor fnrther covenanta that ahould thia mo gage and the note secured hereby not be eligible for inaurance under the National Housing Act within ~U UAYS frnm the date fiereof (written statement of any o~cer o# the Federal Ho~aing Administration or authorized agent of the Federal Housing Commissioner dat~d subsequent to the 30 DAYS time from the date of this mortgage, declining to insure said note and thia mortgag~e. being deemed oon~:lusive proof of such in-' eligibilitq). the mortgagee or the holder of the note may. at Its option, declare all suma secured hereby - immediately due and payable. 10. That (a) in the event of any breach o! t~is mortgage or default on the part ot the mortgag~or, or (b) in ttw ovor~t that aay of s~tid sum~ oi mo harein roferred to b~ not promptly aad fally pstiti with- u out demand or notice, or (c) in the event tha each and every the stipulationa, agreementa, conditiona, and covenanta of said note and this mortgage, are not duly. pmmptly. and fully perfor~ned; then in either or any auch event, the said aggr~gste sum mentioned in aaid note then remaining nnpaid, with iatereat sexrued to that time, and all moneys secured hereby, shall bec:ome due and payable forthwith. or thereafter, at the option of said mortgagee, aa fully and completely aa if all of the said suma of money were orginall~r stipulated to be paid on such day, anything in $aid note or in thia mortgage to the o~nttary notwithstandu~g; and thereupon or thereafter. at the option of said mortgag~e, without notice or demand, auit at law or in equity, may be proeecuted as if all moneya secured herebq had matured prior to its insti- ' tution The mortgag~ee may foreclose thia mortgage. aa to the amount so declared due and payable, and ' the said premises shaU be aold to satiafy and pay the aanne together with coata, expenses, and allowancea. ~ ~ . In c~se of p~?rtial foreclosure of thie mortgage, the mortgaged premises shall be aold subject to the eon- tinuing lien of thia mortgag+e for the amount o# the debt not then due and unpaid. In auch case the pro- ~ ri~ions o! t~is paragraph may again be availed of thereafter irom time to time by the morEgagec. ~ li. Thst the n~oe~or will give immediate notioe by mail to the mortgagee oi any convey~no~ tranafer. or c.hsng~e of ownership oi the premiaea. ' 12. 'rhat no waiver ot any ooveaa~?t herein or oi the obligation aecnred hereby shnU st aay tim~e nm ' ; thei+ea?fter be h~ld to be s waiver of the t~rms hereo! or of t1?e note eecurad herehy. ~ - - ~ ~