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' snd insnranoe p~emimus, as tbe ca~e myr ~sach eocoea shall bs aredited b~ ths m oa aub~eqnent ~
~ p~menb to bs m~de b~t the mort,~a~r. ~ however, the nsanth~ ~ts m+K~? ?;the m°st~s~'o~
~ ond~es (b) at par~?ph S p~eoedin~ aLaD not b~ suledent to pa~,~~oun
d renb. tuea and aasessmants
and inau~~aos~u~ ~s the c~us m~U? b0. ~vhea the s~me shaU beooins dne and p~l~blet tlcea tha
~ n~rtQaQor abalI pp? to tbe sa,j? amount neceesae7? ~o make np the ~cieacy, on or ~ore th~
~ dste when py?ment oi a~ch~rents. tsses. aaseesmeats. or inauranos preani~ms ahaU be
r at aoy tvne the ~o~r~ai~ s6a11 tender to tha mor~~ee u? a~ooordsacs wit,h tt~i provlai~ of the ttots
secured herei~y, iuil t af t~ie eatt~a indebtsdn~ss rspres~nLsd tht.reby, the mor~~s~ee ahs11~ ib co~n-
~ ~ patin~ the amonnt snch indebtedAess. credit to the a~ooount oi tbe mort~a~or ail~rtn
eats made under
j tbe provtsions o~ s) c~ para~raP~h 8 hereoi which the ~cw~r~~ has not beoome obligated to p~r to the
' 1 Faleral Houain~ and sny b~lance in e iunds aocunnulated under the provisions
n
~ oi {b) oi ~id par~r+?p~h 8. Ii there shaU be a dei~utt un any of the proviaions of this mortQa~e re-
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4. Thst he will p~y aU teu~es, aseeeaments, water ntes, and other ~overamental or muoicipal charges,
~ '
1. ~ or impositiona for ~vhich proviaian has not been made hereinbeiore, and in default thereoi the mort-
~~ee ma1? P~sy the aame; ~nd that he ~viU pro~mptiy deliver the o~icial reoeipts therefor to the mort~a~ee.
~ b. That he will permik oommit~ or suRer no w~ste. iml~airment~ or detertantion of aaid ~roperty, or
an,y paurt thereoi; and in the event oi the iailure oi the martga~or to keep the buildings on said premises
snd ~hose to be erected oa said premi~es, or improvements ttier~on, in aood r8pair, the mortgagee mqy
` ~Ice anch rep~ira as in its discretion it may deem necesa~ry ior the proper preservation thereoi. and the
~ . " inn ~mowit of each snd every anch p~lrnaent ahall be immediateiy due and p~?able, and ahsll be secured
~ by tbe lien o~ t63s mort~a~. .
6. That he wIU psy aU snd the c~sts, clurges, and espenaes, inclndin~ reasoaable la~y~~s _
~ iees, aad costs of abstra~cta oi ti~~~rred or paid st any time by the mo becswe o! the fa3lure
on the put of the mortgagor P~P~Y and rbo Pe~~d ~~ahaU
~innd~tely due~~d p~y- .
~ iasa~y n~ote and taus mo and cbar~ed, eacpenses
. . sble snd al~ll be secnred
by~t lien af rtQa~e.
. Thst he aiU keep th~e improvementa now esistin~ os hareaiter erected on the morkgaQed P~P~Y.
. insured aam~? be required iroaaa time to time by the mo ~~ee ~,inst Ioss by flre and oti?er ha:ards.
~ _ cssw~lties. and cwnt~ngencies in such amounts and :far snch peno~s ~s miU? be re4uired by mo
. - ~nd wiU psy PtIY. when due~ sny preiaiuras on such insnraaoe for t oi whicL provisio~~~
not bee~n e hereinbetore. AU insnrance ehall be carried in co~n es approved by mortaa,~ee snd
~ the policies and renewsls thereoi absll be held by mort,~ag~ee snd ve attached thereto loes psyable
clanses in iavor of and in iorm accePtsble to t2f¢ ~~r~ ~~r~~ 4?~u 8~v~ ~~iat~e -
~ not~oe by mail to mortgx~ee, snd mo~rtg~ maY mske prooi oi loas ii not mAde P~Pt1Y b3? ~rt888or• .
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snd each insnranoe co~npan,y conoerned hereby uuthoriaed and direeted to make payment for such . .
laas airectly to mortg~gee instead of to mortgagor snd mo ~omtly. and tbe insuranoe praxrds. or
. ~ a~y thereoi, may be applied by mortgaQee at i~ option~er'to the reduction oi the indebtedness
h~secwted or to the reetorAtion or repa~r o! the properrY dam~S~ed; In event ot ioreclosnre oi this
_ ~~~t,ga~e or otb~ trsnsfer oi title to the mortgaged pmperty in ~~iahment oi the ind~bt~edne~s
u~e~hereby. aU t, tit~, snd intereat oi the mortgagor in an~i to any ura~noe pollciea then in ion~e
~ absU pass to the pu~aae~r or ~ntee.
8. That the mortgrgee auU?. at snY time Pendi~?~ s sntt upon this narEaa,~. ap ly to the oourt luv-
S
~ in~ ~nrisdiction t6ereof ior the appoiatment of receiver. snd anch oonrt s6aU orthwith sppoint a
reoeiver oi the premises cmiared hereby aD and s~ ulsr, i~lud9n,~ all aAdsingu tt?e inoome. Prolita.
: iasaes. and revenues irom whst~ver source dertved, ~cl? and ev c? whi~b, it beiaQ e~cpreasU? under-
atood. ia hereby a~rt~gaged as if s~peci8ca11Y set iartb snd deecrlb~i~ t~ grantia~ and habeadum clauses
hereoi. aad sach reoeiver shaU have aU the brna d su?d ~ective functions and poaren in ~u?ywise ~
- eatruated by a court to a reoeiver, and sndt sppointment ahall be msde by auch court as sn admitted
eqnity snd s matter of absolate ti~ht to said mortgagee. and witha~t reterenoe to the sdequacy or inad
~ equacy oi the valne oi the property mottgaged or ta the solvency or inaolvene.y of said mortga~or or the
• defendants, and tLat anch reats, prolits, income, iasnea, snd revenues shaU be spplied by such receiver
- aooo~to the lien oi this mort~gs~ge and the pn~ctioe of snc6 coark In the event of any default on the
oi e mortgagor hereunder the mortgagor agrees to paY to the a?a p~ee on demand aa a reawn-
~ abl~e manthly rental ior tt?e premisea an amount at le~at equivslent to elfth ('ns) oi the aggregats
a~ tha t~relve mont,hLy installnaenta p~ysble in the then cnn
ent yesr plus the actual ainount of the annuil
; . ~ t~uces ass~amenta, water ntes. snd insunnce premiums for such ye~ur not.oavered by the afor~aid
F P~~~ -
9. The mortgagor further covenanta that aliould thia nartgage and the aote aPCUred hereby not be
' ~ eligible ior insurance under the National Housing Act within ~p d~~ frotn the date hereoi
~(writtEn statement of say o~cer of the Fed ~~~e i!o ~ n or~
from the~date i this
_ Federal Housing Comm~ssioner dated aubdeq
' . mortgage, declining to inaure said note and thia mortgage, beina de~ned oonciusive proof of such iu-
eligibility). the mortgagee or the holder oi the note may, at its option, declare all anma eecur~d her~by
~ immediately due and payable.
- 10. That (a) in the event o! any breach of tfiia mort~ge or default on the psrt of the mortgsg~or. or
(b) in the event that any of said aums of money herein re~erred to be not promptly and fally paid with-
- out demand or notice, or (c) in the event that each and every the stipulations, agreements. eonditions.
und covenants of aaid note and this mortgag~e, are not duly, prom~tly, and iully perforaned; then in
either or aay such event~ the aaid te sum mentioned in said note then remaiaing unp~id, with
~ interest iu~crued to tlut time. wd moneys secwned hereby. ahall become due snd payable fort4with,
t or thereafter. at the option ot said mortgag~ee, as iuUy and oo~tnpletel~y as if all of the aaid sums of money
were orginall~r atipulated to be paid on auch day,any thing in said note or in this mortgag~e to the con~j
' notwithstsnding; and thereupon or thereatter. at the option o! said mart~agee, witho~t notice or denaxd,
• anit at law or in equity. may be prneecnted as if all moneya secured hereby had matured prior to ita inati-
~ tution. The mortgagee may forecloee this mo;tgage, as to the amount so declared due andpayable. and
" the sAid pret~?is~ ahall be aold to sxtiafy and pay the aarne together with oo~sts. ezpensea, and albwanoes.
In caee of partial foreclosure oi this mortgage, the mortgaged premisea ahaii be ao~ subject to t6e eoa-
tinuin~ Uen of thie nartgag~e tor the amount of the debt not then due snd unpsid.. In anc6 case the pro-
visio~s oi this paragraph msy again be availed of thereafter from time to time by the mortQeg~ee.
~ ~ 11. That the mortgagor wili give immediste notice by mail to the mort~sg~ee of any eonveyanos.
~ traaafer. or c.har?ge of ovv~?era6ip oi the premieea.
~ i2. That no waiver oi aay eovenxnt herein or of the oWigation secnred hereby shall st soy dnM
therestter be held to be s waiver of t6e terma tiereoi or of the note secur~ed hereby.
g~~~ ~.00 ~~3~35
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