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Home My WebLink About0772 . ~ ~ • . . ~ ~ . ~ ; ' ~ • ti~ ~ ~ snd insur~nce preminma, as the case m~y be~snch e~ccees ahatl be credited by the mort,~agee on aubeequen! psymeats to be made by the mortgagor. li. however. the monttil,y p~yments made by the mortgag~or ~ nnder (b) o~ para,~raPh 8 preoedinB ahaU not bs su~cient to pa~ygrour>d renta, t~uces ai?d aaseaaments ~ and inauranc~e~ premi~ms, aa the caae msy be~ whea the aame at?~ll tiecome due u?d pu?able, then the mortgagor shall p~? to the mortgagr.e aqy amount nec.easary to make up the deflcieacy~ on or before th~ { ~ date when p~rment oi such ground renta~ tauea, asaeesments, or insur~ca premiums shaU be due. ~ at any time the mortgagor ahall tender to the mortgagee in ~uxordance with the proviaions of the note ~ aecur~d hereby, fi~llpaym ent o! the entire indebtednesa repreaented thereby~ the mortgages shall. in com- ~ puting the amount o! auch indebtednesa, credit to the acoount of the mortgagor aUpaym enta made under t the proviaions of ~a) oi pau~a8raph 2 hereof which the mortgagee haa not beconae obligated to pay to the ~ Federai Housing Commieaioaer snd any balance rem in the funda accnmulated under the proviaiona o! (b) of said ph 2 Ii there ehall be a dcfaul~er say o# the provisions oi this mortgage re- aulting in a p L~e oi the premisea oovered herebyt or if the mortgagee acx~air~ the ProI~rtY o~~'- ~viae after default, the mortSa~ee ahall app~y, at the tune of the oommencement of such proceedinga or at ~ the time the propert;y ia otherw~ae acquired, the batanee then remaining in the tunda accumulated under ~ (b) ofparagraph 8 p aa a credit against the amonnt of principal then remaining unpaid under ~ aaid note and shall pm~ust a~? P$Ymenta which ehaU have been made under (a) of said paragraph. ; 4. Th~~t he will pay all ta~ces, asaessmenta, water ratea, and other governa?ental or municipal charges. ~ Snea, or impositiona. for which proviaion haa not been made hereinbefore~ and in default thereof the mort~ • ' gag~ may pay the aame; and that he will prompt,~y deliver the official receipte therefor to the mortgagee. : 8. That he will permit~ commit, or suffer no waate, impairment, or deterioration of aaid property or ~ - sny part thereof; and in the event oi the failure o! the mortgagor to keep the bnildings on said premis~ ~ . atid those to be erected on said premises, or improvementa thereon. in g o o d re p a ir. t he ino r tgagee may ~ make snch repairs as in ita discretion it m~y deem necessary for the pmper preservation thereof. and the ' fnll amount of each and every auch payment ahall be immediate~y due and payable, and ahaU be secured ~ . by the lien of thia mortgage, . ~ 6. That he will pay all and singular the coeta, charges, and expena~. including reaaonable lawyer'a ' iees, and coats o! abstracts of title~ incurred or paid at any time by the mo because of the failure _ ` . on the part of the mortgagor prnmptly and fully to perform the agreementa~ venants of said prom- ~ . 3asory note and this mortgage. and said costs. c.har8ea, aqd ezpenses shall be unmediately dus and pay- ~ able and ahall be aecured by the lien of thia mortgage. . ~ That he will keep th~e impmvements now exiating ar hereafter erectcd on the mortgag~ed Property. inanred aa may be reqnired from t.ime to time by the mo against losa by fire and other hazards~ casnalties, and contingencie~ in auch amounts and for su~ oda as may be required by mortgagee. and ~vill payprompt~y, when due, any premiums on such inaurance ~or }~ayment of which prnvision haa ~ ~ not been made hereinbefore. All inaurance ahall be carried in oompaniea approved by mortgagee and ~ ~ the policies and renewala thereof ahall be held by mortgagee and have attached thereto losa payable . cl~usea in favor of and in form acoeptable to the mortgagee. In event of loss he wiU give immediate notice by mail bo mortgagee, and mortga~ee may make proof of loss if not raade promptly by mortgag+or. and ea~? insnranc~e oompany concerned is hereby suthorized and directed to make payment for such - ~:loss directly to martgagee instead of to mortgagor and mort jointly. and the inaurance proceeds, or any thereof; ~ay be applied by mortgagee at its option ~r to the reduction of the indebtednesa . h~secnred 'or to the restoration or repair of the property damsg~ed. In event oi foreclosure of.this ~ mortgage or other tranafer of title to the mortgaged pmperty in eatinguiahment of the indebtedneaa secured hereby. sll ri8ht, title. and interest of the mortgagor in and to any insurance policies then in force ahaU pasa to the purchaser or grantee. . . 8. That the mortgagee may, at any time pending s auit upon thia mortgage, apply tfl the court hav- . ing jnriadiction thereof for the appointment of s receiver~ and euch oourt shall forthwith appoint s ~ reoeiver of the premises covered hereby all and aingular. includiag? sll and.singular the income. proftts, iaauea, and revennes from whatever source derived~ each and ever~r o! wluch, it being expressly under- . stood, is her~by mortgaged as if apeciftcaUy set forth and described m the granting and habendum clausea • ' hereof, and such receiver shall have all the broad and effective functiona and powera in anywiae entn~ated by a court to a receiver, and such appointment ahall be made by such court aa aa admitted equity and a matter of absolute right to said mortgagee, and without referenoe to the adequacy or inad- • equacy of the value of the property mortgaged or to the aolvency or insolvency of said mortgagor or the defendanta, and that such renta, proftts. iacome, isaues, and revenuea shall be applied by such reoeiver ' acoord~ng to the lien of thia mortgage and the practice of auch courk In the event of any default on the part ot the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reason- ; able monthty rental for the premises an amount at least equivalent to oue-twelfth ( 3is? oi the aggregate o! the twelve monthly installments payable in the then current year plus the actual amount of the annual ' ta=e~ assessmenta, water rates, and inaurance premiwne for such year not eovered by, the aforesaid . mont~ily paymenta. - 9. The mortgagor further covenants that should this mortgage and the note secured hereby not be ` eligible for inaurance under the National Housing Act within 80 pAY~- from the date ~ereof ' (written statement of any otficer of the Federal Housing Admimstra~ion or authorized ag~ent of the ; Federal Iiousing Commissioner dated subsequent to the 3Q QqY~ time from the date a~ thia mortgage, declining to inaure said note and this mortgage, being eemed coir~lusive proof of such in eligibility). 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 of ~his mortgage or default on the part of the mortgagor, or (b) in the event that any of said suma 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 atipulations, agreements, conditions. and .covenanta of said note and thia mortgage, are not duly, promptly, and ful~y performed; then in either or any such event, the said aggregate sum mentioned in aaid note then remaining unpaid, with interest accrued to that time, and all moneYa secured hereby, shall beoome due and payabie forthwith, or thereafter, at the option of said mortgagee. a$ fully and completely as if all of the said suma of money r ~ were orginall~r stipulated to be paid on such day, anything in said note or in this mortgage to the contrary ~ notwithatanding; and thereupon or thereafter. at the option of said mortgagee, withont notice or demand, suit at law or in equity. may be prosccuted as if all moneys eecured hereby had matured prior to its insti- ,°c,.°d ' - tution The mortgagee may ioreclose fhis mortgage, as to the amount so declared due andpayable. and ,:~'o ' the said premises ahall be sold to satisfy and pay the same together with costs, expenses. and allowances. ' In case of partial foreclasure of this mortgage, the mortgaged premiaea ahall be sold subject to the con- ~ tinuing lien of this mortgag~e tor the amount of the debt not then dae and unpaid. In auch case the pro- ~p ~ visions of thia paragraph may again be availed of thereafter from time to time by the mortgagee. - • ~ 11. That the mortgagor will give immediate notice by mail to the mortgagee ot an,y conveyance, ; ' tranafer, or change of ownerahip of the premiees. ~ 12. That no waiver of any covenant herein or of the obligstion aecured her~eby sha11 at any time ~ _ : thereafter be held to be a waiver of the terms hereot or of the note aecured hereby. ~ ~i