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Home My WebLink About0985 ~ ~ _ ~ _ _ _.w - _ . . - - ~ud iasurance preiaiuntis. a the caae may be,_such esoees ehali be credited by the mo~,~ap sub*eclsi~nt : p~ments to be ~de by the mort~a~or. If~ howev~er, the awnthly p~ymea4 niade y thp mort,~or ~a~r cb~ o~ s~,~r a~u ~wt b..~a~t~t to ~~un a~a, t,~m ~,a ,?~nen~. u?d inauran~~e preaniwns,, as the cass mN? be, rvhea the aaane dhall beoooae due and payable, th~en the ; aiortga,gor rwU p~,y to the mo aqy amount neceasucy to make up the deflciency~ on or before the j date whea payment of anch ~roun~rsnts, tauces. asaeesmenta, or inau~rsnae preaaIuma ahall be due. Ii at ~ny time the martgag^o~r shaU teuder to the mostQa~ee in uoordanoe wit6 tb8 proviaiwns oi the note ~ aecar~d hereby. i~illp~ymen t oi the entire indebtedneaa represented thereby~ the nnortg~gee ahall. in cara- puNa~ the utaount o! auch indebtedness, credit to the account oi the most~ugor allp~ymeata made under Na the proviaions oi (a) oi psra~raph 2 hereoi which the mo haa not became obligated to pAy to the Federal Houaiag C'ommiaaioner ~nd aa~? balanoe i~ n tFie iunds accumulated uader the pm~ iaions of (b) oi ssid ~gr~p~ 2. Ii there shall be a defsult nn er any oi the provisions of this mortgage re- ! aultin~ in a pu lic as~le oi the prenaiaes oovered her~eby or if the morEgagee ~oquir~ the property ot~ter~ wise after defa~lt. the mortgap~ee shall app~,y. ~tt the t~me of the ooemmenoement oi auch proceedinga or at . the time the pro is otherwise aoquired, the balsnoe thea remaining in tho i'unds ~ocumulated under se (b) oi ~grap 2 precedu'~ as a credit s?~aiaat tbe amount oi pruicipal then remaining unpaid under f ssid note~nd ahall Properly adj'ust aqy p~ymenir~which a6a11 have been msde under (a) of said paragraph. ~ 4. That he will p~~y sll taxea, asaessments. water rates~ and other governraental or municipal charg~, ~ 8nea, or impositioria. for which proviaion has not been made hereinbefore. and in deiault thereoi the mort~ _ . ~~sg~ee m~y p~y the same; and that he will pramptly deliver tha o~ci~l receipta therefor to the mortgagee. i ~ 6. That he will penait~ commit~ or suRer no waste, iinpairment~ or deterior~tion oi aaid prnperty or ~ ~ an,y part thereoi; and in the event of t6e failure af the mort$agor to geep the buildinga on said premises : ,~a ttiose to be er+ected on eaid premiae~ or impravementa thereon, in good repair. tbe mortgagee maq ~ ma1~e anch repairs as in its discretion it may dcem n~ry for the proper preaervation thereof, .and the ~;:~ti i~t~.amount o! ea~h and every such payment a6aU be innmediate~? due and pAyable, and ahaU be secured - by the lien of this mortgage~, - ' 6. Thst he will pay sU And singular the eoeta. cbuges. and eacpenaes, iACluding ressoasble lawyer's ~ ~!eee,, snd costa of sb~tracta oi titte, incurred or paid ~?t ar~y time by the mort~a~e~ because oi the failure i' on the part oi the mortgagor promptly ~nd fu11y tu perform the agrePments and covenants of aaid prnm- iaeory note and this mortgage, and said coete, chargea~ and eupetises shall be immediately due and p~ay- 1 able and ahall be secured by the lien of this mortgag~e. ~ : 7. Thst he will keep tlie icaprovementa now e~ciatir?Q or hereafter erected on the mortgaged proper~,y, lnsured as m'ty be reQuired fro~n time to time by the mortgagee agsinst laes by tire and other hazarda, ~ ! casuslties, and contingencies in such amouat$ ancl for such pertods as may be required by mortgagee. ' ~ , and will p~yprom pt1y. when due, any premiums on such insuraace for p~yment of which pmvision haa not been made hereinbefare. All inseirance ahall be carried in con?p~u ea approved by mortgagee and ; the policies and renewals thereoi shsU be held by mortgagee and hnve attached thereto loaB payable - clausee in favor oi gad ia form acceptable to the mortgagee.- In event of loas he wil[ give immediate . notice by mail to mortgagee, and mortga~ee may make proof of losa if not made pmmptly by mortgagor~ ~ ' I nd each inaurance ooaipany concerned ~s hereby authorized and directed to make payment for such- - oss directly to mortgagee instead of to mortgagor and mo uny thereof be applied b mo ~ointly, and the inaurance praceeds. or , may y rtgag~ee at ita option e~~r.to the reduction of the indebtednesa ' h~secured or to the reatoration or repair of the ; p perty damaged. In event oi foreclaaure of this ~ mortgag~e or other transfer oi title to the mortgaged prnper~y in extinguishment of the indebtedness ~ , aecured hereby, all right, title, and inter~st oi the tnortgagor in and to t~ny insurance policiea then in force t ahall pa~sss to the purcha$er or grantee. ; ~ S. That the mortgag~e m~?. at any time pending s auit upon this mortgage, apply to the oourt hav- ing ~uriadiction thereoi tor the appointment of s receiver. swd auch oourt ahall forthwith` sppoint a i receiver of the premisea cover~ed hereby all and aingv]ar~ including aU and aingnlar tl~e income, profits, ~ ~ issupa, and rtwenn~ from whatever aource derived, ~?ch and every oi which, it being expressiy under- ; atood, is hereby mortgaged as if speciflcally set forth and described in the granting and habendum ctausea hereoi~ and auch receiver ahalI have all the broad and efl~ective functions and powers in anqwise ~ entrustecl by a c~ovrt to a receiver. and such sppointwent ahall be made by such conrt as an admitted equity and a matter of abeolute right to said morlgagee, and without reference to the adequacy or inad- j equacy of the value of the prnperty mortgaged or to tlie solvency or insolvency of aaid mortgagar or the .deiendants. aad that such renta, pmfita, ineome~ issuea, and reveaues shall be applied by such receiver aeoo~ to the lien of this mortgage And the ~ractioe of aach courk In the event of any default on the part of e mortgagor hereunder: the mortgagor ugrees to pay to the mortgagee on demand as 8 reason- ~ sble monthly rentsl for the premises an ataount st least equivalent to one-twetfth of the aggregate - of the twelve monthly installments payable iu the then current yesr plus the actual amount of the annual taxea aasessments, water rates, and insurance premiuma for such year nat oovered by the aforessid mont~ily psymeata. ~ 9. The mortgragor further covenants that ahould thia mort ge and the note secured hereby not be ~ eligible for insurance under the National Housing Act within ~0 de~s from the date hereof ~ (written ststement of any o@'wer of the Federal Housing Adwinistration or suthorized agent of the Federal Housing Commissioner dsted sub~eqaent to the sioressid time from the date of this ~ mortgage, declining to inaure said note and this mortgage, being deemed conclueive proof of such in- ~ eligibility), the raortgagee or•the holder of the note tnay, at ita option, dectare all awna secured hereby ; immediately due and payable. , 10. That (a) in the event of any breach of thirs mortgage or defauit on the part of the mortgsgor, ar (b) in the event that any of said sume of money herein referred to be not pmmptJy and fnlly paid with- out demand or notice, or (c) in the event that each and every the atipulationa, agree~?ents, oonditions, and covenants of said note and thia mortgage. are not duly~ promptly, and iully performed; then in ~ either or any auch event, the said aggregate sum mentioned in said note then rema~ning vnpaid. wiW intereat accrued to tliat time, and all moneys secured hereby, ehall beoome due and payable forthwith, or 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 con ~ notwithstanding; and thereupon or thereafter, at the option of said mortgag~ee. without notioe or deman , - suit at law or in equity, tnay be prosecuted as if al! moneya eecured hereby had matnred prior to ita inati- tution. The mortgag~ee msy foreclose thia mortgage, as to the amount eo declared due and payable, and ' the said premisea ahall be sold to satisfy and pay the same together with oosta„ e~cpenses~ and allowances. • In case of partial forecloaure of thia mortgage~ the mortgaged premiaea ahalt_ be eold suhject to the c~on- ~ tinuing lien of this mortgag~e for the amount of the debt not then due and unp~aid. In such case t~e pro- - visions of this paragraph msy agau? be availed of thereaiter from time to time by the mortgagee. ' 11. That the mortgagror wiU give immediate notice by mail to the mortgagee o! aqv conveyanoe, j tr~wafer, or change oi ownership of the premises. ~R;~ 12 1'hat no waiver oi say covenant herein or oi the obligation aecnred hereb"q shalI"~ a~ft~~~ thereatter be held to be a waiver oi the ternis hereoi or oi the note eecured hereby. i . . ~ - . _ - _ _ - r:~ .~u;