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Home My WebLink About2357 ~ . . ~ . t O . .s•~,M . ~ s~nd inauranos premiuau~ as the case m~y be~auch exce~a shaU be credited by the naort~agee oa subaequent ~ p~ymenta to be nude by the mort~aQor. u~ ~however. the monthly p~,ymenta made by the mertga~or f under (b) cd para~ri?ph 8 preoedin~ shaU not be sulHcient to pa,y~e~ound rents. taxea aad aseeaaments ~ and ibsur~nc~e~ premiun~ aa the case m~y be. when the same ah~ll ~ome due snd piU?sble then the mortgegor shaU p~y to the mort,~s~ee uny a~mount necesauy to make up the deflciency. on or ~efore the dAte when p~yment of auch ground renta, taxes. ~saessmenta~ or inauranee premiuma s~ull be due. Ii ~ at aay time the mortgaQor shaU tender to t~e mortgaQee in acoordance with the pmviaions oi the note aecured ~ereby~ tullp~ym ent oi the entire indebtednas represeated thereby, the mortgsgee ahall~ ;n com- putin~ the amount oi such indebtedneas. credit to the acoount oi the mo:tQagor aU ents made under the proviaions oi a) of paraQraph 2 hereoi which the mot~a~ee hss not become ligated to pay to the ~ Federal HouainQ Cbmmiasioner and ~t?y balance remawn g~iin tbe funds aocumulated under the provisions of (b) oi aaid ph 2 Ii there shall be a default under ~ny oi the provisions of this mortgage re- ~ su1Nn~ in a pu lic aale of the premiaes oovered herebys or ii the mortgagee aoquirea the property ot~er- wise after defaulk the mortQa~ee shall apply, at the twae of the commencement of auch proceedings or at ~ the time the pro~erty is atherw~ae acquired, the balanoe then t~emainiug in the funds aocumulated under (b) o!paragraph 2 precedw' ~as a credit againat the amonnt of pru?cipal then remaining unpaid under s~id note and shaU pmperly a~uat any paymenta which ahall hAVe been made under (a) oi aaid paragraph. 4. That he will pay all t~xea, aasessmenta, water rat~. and other govenunental or municipal chargea, _ Snee. or impositions. for which provision ha~ not been made hereinbefore; and in default thereof the mort- gagee m~~y pay the aame; snd that he wiU promptly deliver the o~cial receigts therefor to the mortgagee. • ~ 8. That he wiU permit~ connnait~ or aut[er no waste. impairment~ or deterlor~tion of eaid prnperty or ! any pArt t6ereoi; and in the event oi t6e failure of the mo ~gagor to geep the buildings on said premises ' and tho~se to be erected on said premises, or impmvemeuta here.wn, in good repair. the mortgagee may F nwke auch repsirs as in its discretion it may deem necessary for the proper, preaervation thereof. and the ' ~ iull atnount o! each and every auch payment ahall be immediately due and payable, and ahall be secured ` by t6e lien of this mortga,ge, " . ' ' 6. That he wiU psy ~11 und singular the oosta. charge~, u?d expenses. includi reasonable lawyer's $E iees, and costs oi abstracta of title~ incurred or paid at any time by the ~ortgagee use of the failure on the psrt oi the mortgagor promptly and fully to perform the s?greements and covenanta of said pmm- issory note and tt~is mortgsge, and asid eo~eta~ char~ee, and e~cpenaes ahalt be immediately dne and pay- able aad ahall be secured by the lien oi thia mortg~ge. . ' 7. That he wIU keeF the improvementa now exiatiug or heresiter erected on the mortgaged property. insured asm~y be requ~red irom tirae to time by the mQ against loss by ftre and other hazards, casuaitiea, and contingenciea in auch smounts and for su~'oda aa may be required by mortgagee. ~ and will pay pronaptly, when due. any premiwna on auch inaurance ior ~ayment of which provision has no~ been made hereinbefore. All inaurance ahall be carried in oomp~ues approved by mortgagee and . the policiee and renewais thereof ahaU be held by mortgagee and h~ve attached thereto loas payable . clauses in favor of aad in form soceptable tfl the mortgagee. In event oi loas he will g?ive immediate • natice by mail to mortgagee. and mortga~ee may make proof oi loss If aot made pmmptly by mortgagor, snd each inaurance ~company conceraed ~s hereby authorized and directed to make payment for such lass directly to mortgagee inatead of to mortgagor and mortga~ee jointly, and the inaurance proceeds, or uiy thereof~ may be applied by mortgagee at ita option either to the reduction of the indebtedness h~secured or to the ratoration or repair of the property damaged. In event of forectosure of thia mortgage or other tranafer of title to the mortgaged property in extinguishment oi the indebtedneas aecured hereby. all right, title, and interest of the mortgagor in and to any insurance policiea then in force ' ~ a6all psas to the pnrchaser or grantee. . . . 8. Thst the mortgagee may, at any time pending s auit npon this mortgage, apply to the court hav- ing ~urisdiction thereof for the appointment of a receiver~ and such court shail forthwith appoint a receaver ot the premises covered hereby all and aingular. including all and aingular the income, proftta. issues, and reyenues from whstever aoume derived~ each snd every of which~ it being expressly under- atood. is hereby mortgaged as if specilkally aet forth and described in the granting and habendum clausea hereof, and such receiver ahaU have sll the brosd and effective fuactions and powera in anywiae . entrnsted by a court to s receiver, and such appointraent shall be made by such court ss an admitted equity and s matter of ab~olute right to said raortgsgee. snd without reference to the adequacy or inad- equacy of tt?e value of the pmperty mortgaged or to the solvency or insolvency of said mortgagor or the . defendanta, ~nd that such rente, proftts, income, iasuea, and revenuea shall be applied by such receiver sceo~ to the lien of thia mortgage and the practice of auch caurk In the event of any default on the part o~ e mortga'gor hereunder; the mortgagor agrees to psy to the mortgagee on demand as a reason- able monthly rental for the prem~ses an amount at leaat equivalent to one-twelfth (3is) ai the ~ggregate ~ oi the twelve monthly inatallments payable in the then current year plua the actual amount of the annual ~ taxea asaesaments, water ratea~ and insurance premiums ior auch year not covered by the aforesaid ; mont~ily psymenta. ` . . ~ 9. The mortgagor further covenants that ahould this mortgage attd the note secured hereby not be ~ ' eligible for insurance under the National Housing Act within thirty days from the date hereof ; ~ (written statement of any oflscer of the Federal Housing Administration or authorized ag~ent of the , ; Federal Housing Commissioner dated subsequent to the thirty days time from the date of this ~ F mortgage, declining to insure said note and this mortgage, being deemed concluaive proof of auch 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 this mortgage or defauit on the part oi the mortgagor. or , (G) in the event that any of said sums of money herein referred to be not promptly and fully paid with- ; out demand or uotice, or (c) in the event that each and every the stipulations. agreements, conditiona, ~ and covenants of said note and this mortgage. are not duly. promptly. and fully performed; then in either or any auch event, the said aggregate sum mentioned ~n said note then remainiag unpaid. with ~ intereat accrued to that time, and all moneys secured hereby, shall become due and payable forthwith, ~ or thereafter, at the optiou of said mortgagee. as fuliy 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 this mortgage to the contrary E notwithstanding; and thereupon or thereafter. at the option of said mortgagee, without notice or demand, suit at law or in equity, may be pro~ecuted sa if all moneys secured hereby had matured prior to its inati- tution. The mortgagee may foreclose thia mortgage, as to the amount so declared due andpayable, and e the $aid premises shaU be sold to satisfy and pay the same together with oosts, expenses, and allowances. ~ ~ In case of partial foreclosure of this mortgage, the mortgaged premises ahall be aold subject to the con- - F tinuing lien of this mortgage for the amount of the debt not then due aad unpaid. In auch case the pro- ~ visions of thia paragraph may agaiu be availed of thereafter from time to time by the mortgagee. ~ ~ , ~ g . ~ ~,~~x 9~ P~~E~5s . , ~ . ~ ~ _