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Home My WebLink About0629 ' . ~ . - - . o o ~ ~ ~nd insoran~e premiunu, ~s the c.~se m~y be~auch eaccees ahsil be credited by the mort~e on subaequ~t ~ p~aymenb to be nu~de by the mort~ag~or. If~ however~ the monttily paymaAta made by the mort,~~or ` ander (b) ai Aar+~?P~ 8 Preoedini abaU aot b~ a~cient to pp? d rents, taae~ and assessmente ~ ~ and inaur~oce pnmium~, aa the case nyy be. when the eame ~?~'O1D~ a~a ,~na nw~i~ ea the mort~?Qor a~U pay to the mortgs~gee aqy amount nec~easry ~o malce up the deflciency~ oa ar ore the date when p~yment of such ~ronnd renta, taxes, aaseeaments. or inaurxnce pr~niums ahall be due. Ii ; ~ at any timo ths aartgagor shaU tender to the mortQagee in a~ooardance with the provisions oi the note aectued hereby, Ynllp~yment oi the entire indebtedneas represented thet~eby. the mor#gsQee ahall. in com- pnting the ~unount oi auch indebt~edness, credit to the acoount oi the mortgsg~or at1psym enta made under the provisions of a) of par~raph 2 hereoi which the mot~a~ has not beco~me obligated to p~y to the m Federsl Houain~ oner snd any b~lanoe remainin g~tn tFie funds accumulated under the proviaions oi (6) oi aaidu~u~a~raph 2. Ii t6ere ahall be a default utider aoy oi the provisions oi thia mortgage r~ aultinQ in a p lic eale of the premiaes oovered hereby. or ii the mortgsgce uquires the propeMy ot~er- ~ wise after defautt, the mortga~ee ahall apply~ st the time oi the ooa~nmencement oi such proceedings or at ~ i ~ the time the property is otherwise ~oquired, the b~lannoe then re~aainin~ in the funds i?ccumulated under (b) o!p~ra~rapti 2 p as a credit agsinst the amount of prtncipsl then remsining unpsid under satd note and aluU properly a'ust any paymenta which atull have been made under (a) ot s~id F~ra6ra~Ah. ~ . ~ 4. T~t he will p~,y all tas~, aaseaaments~ wster rate~, and other govenunental or municIpal chargea, ![nes, or impoaitions, for which provision Zus not been made here~nbefoz+e. and in defAUlt thereof the mor~ gag~es m~y p~y the asme; and that he ~riU prompt~y deliver the o8`teial receipts therefor to the ~ocortgag~ee. b. That he will permiit, comm~t~ or aufter no waste, imp~irmeak or deterioration o! said property or aay p~art thereof; sad in the event oi the iailnre oi the mo r to keep the buildia~s on aaia prnmisea ~ . and those to be erected on ssid pre~mises. or improvements~ n. ia good rep~~ir. the mortgagee m~y ~ n~ke such repaira as in its diecretion it may deem neeeaeary for the prnper preservateon thereof. atnd ~the ' inU amaunt of ench and evsry auch p~yment shall be immediately due and payable, and al~U be secured ; , by the lien of t6ia mortgage. 6. That he will pay all aad singular the costs, chsrges, and espenses, iacluding reasonable lawyer's i~s, and ooata of abstracts of title, incun~ed or p~id at sny time by the mo because of the iailure on the part of the mortgagor promptly and fully to perform the agreementa~ venants of aaId pmm- issorY note ~nd thia mo ~ga~, and said coata. chareea. +i?nd exPenses ahall be in~mediately due and pay- ~ + able xnd shaU be secured by t-he lien oi thia mortg$ge. _ f ~ 7. That he ~viU kee~ the iaiprovementa now existi»g or her~siter erected on the mort8'~8~ P~P~rtY, : ; insnred aa m~,y be requu~ed irom time to time by the mo a~s~ nat loas by fire and other hazarda, caauslties. and eontingencies in auch amounts and for suc.~~'ods aa a~sy be required by mortgagee, and will p~ypmm ptly~ ~vhen du~e~ aqy premiurna on such insuraace for ~yment of which provision has not been made hereinbefore. All inaurance ahall be carried in connpan~es aPProved by mortgagee and ~ the policiee and renews~la thereof ahall be held by mortgagee and, hsve attached thereto loss payable clauses in favor o! and in torm aeceptable to the mortgagee. In event of loss he will give immediate notioe by mail to mortgsgee, und mortga~,~ee may make proof of loss i! not made promptly by mortgagor, and each it~anraaoe eompany conoerned ~s hereby authorized and 'directed to make payment for auch loss direct~y to mortgagee inatead oi to mortgagor and mo ~omtly~ and the inaurance proceeda~ or • ; - . ahny~ thereof~ m~,y be applied by mortgagee at ita option~er.to the reduction of the jndebtedness ~ y aecured or to the reatoration or repair of the prnperty damaged. In event of foreclo~ure of thia ? mortgage or other transffer of title to the mortgaged property in extinguishment oi the indebtedneas • secured hereb , all right~ title, and intereat of the mortgagor in and to any insurance policies then in force ' ahall paas to ~e purchaaer or grantee. ~ - . 8. That the mortgagee m~y. at any time pending suit upon thia mortg~e. sppiy to the court haw . ing ~uriadiction thereof for the appoiutment of A receiver~ itnd such oourt ahsdl forthwith appoint s receroer of the premisea cavered he,reby all and ain,gulsr, iacluding all and aingular the income. profita~ ~ isa,ues, snd r~veuuea from whatever sonroe derived, e~uch and every oi which~ it being enpresaly under• ~ ~ stood, is hereby mortgaged aa ii specifically aet forth and described in the granting s~nd habendum clauaes hereot~ and ~uch receiver shall have sll the bro~td and efl`e~tive iunctions and powera in anywise entruated by a court to a receiver, and auch appointment ah~tll be made by such oourt as an admitted equity and a matter of abaolute right to aaid mortgagee, and arithout reference to the adequacy or inad- equacy of the value of t6e prnperty mortgaged or to the solvency or in'solvency of said mortgagor or the defendants, ~nd t~tiat auch rents, proftta, incom~ ias~es, aad revenues shall be applied by such receiver accordin~t to the lien oi this mortgage and the prACtice of such courk Ia the event of any default on the = p~t of the mortgagor•her~unders the mortgagor ~grees to pay to the mort~agee on demand as a reason- ' able montlily rental for the prem~ses an amount at least equivalent to one-twelfth (3is) of the aggregate ~ of the tarelve monthly inatalUr?enta payable in the then current year plns the sctusl amount oi the annual - taxea asses~ments, water rates, snd insurauce premiums for such year not omrered by the aforeaaid mont~ly psymeata. . ~ 9. The mortgagor further covenanta that ahould thia mortgage and the note aecured hereby not be ~ ' eligible for insurance under the National Housing Act withia ~hitty days irom the date hereof ~ ; (written stat~ement of any ofticer of the Federal Housing Admmistration or authorized ag~ent of the Federa! Honsing Commiasioner dated subsequent to the ihitty days time from the date of this mortgage, declining to insare said note and this mortgage, ~eing deemed conclusive proof of such in- . eligibility), the mortgag~ee or the holder of the note may~ at its option, declare all sums secured hereby immediately due and payable. 10. That (a) in the event of any bresch of this mortgage or defauit on the part of the awrtga~or or ~ -(by in the event that any oi aaid auma oi money herein referred to be not prnmptly and ll~lly pa~d w~th- ! out dernand or notice, or (c) in the event that each and everq the atipulations, agreements, coaditions. ~ - and covenanta of said note and thia mortgage, are not duly. promptly. and fully performed; then in either or any such event, the said aggregate sum mentioned in aaid note then i~emaining unpaid. with intereat accrued to that time, and al! moneys sece~red her~by, shall becoma due and paysble forthwith, or thereafter, at the optiou oi said mortgagee, as iully and completely as if all of the aaid suma of money ' were orginally atipulated to be paid on euch day. abything in aaid note or in thia mortgage to the contrary notwithstanding; and thereupon or thereafter, at the option of aaid mortgag~ee. w~thout notioe or demand, suit at law or in equity, msy be proeecuted as if all moneya secured hereby had matured prior to its insti- tution. The mortgagee may forecloee thia mortgsg~e~ aa to the araount ao declared due sadpayable, and the said premises shaU be sold to aatisfy and pay the same together with coata, expensea~ and allowances. In case of partiat foreclosure of this mortgage. the mortgaged premisea sha11 be aold subjeet to the oon- tinuing lien of this mortgag~e for the amount o! the debt n~ then due snd unpaid. In auch case t~e pro- i viaions of this paragcaph may again be avsiled of tHereafter irom titae to time by the mortga4ree. i ' D. A, P?!:1~ ' 94 fu~ 28 ~ •