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and insnr~noe premiuau, ~s the case may be~auch escea iha11 be aredited by the mort~agee oa aubaequent
W~ymenb to be msde by the mort,~~or. ii, however~ the monthly paymenta made by ths mort~or ~
under (b) a~ p~ra~rsp6 8 preoedin~ slull not be s~aieat to ppr~oun d rents. tuea and assesunent~
and inauranos premi~, ~s the caae m~y be. phen ths same dh~?tl beoaae due snd pzysbl then the
mort~agor ahall py? to the mortgagee ~y a~nount neoesauy to mske up ths detkienqr, on or~ore the
date when p~yment of such a?round r8nta,, taxee, aesessments, or inaurauoe pn?miun~ ~hall be dua Ii
at uty t~me the mort,~~gar shall tender ~o the mortgagee in aacordance with the pmvisiaAa oi the note
~ secwced hereby~ irillp~ym
ent oi the entire indebtedneae repreaented thereby~ tha mort,~a~ee ahsll. in cam-
putin~ the amount oi auc6 indebtedness~ credit to the acoount oi the mortga~or all eata made under
the provisiona oi a) of paragraph 2 hereoi which the mor~tg~ee has not beoome obp
l~gated to pay to the
Federal Housiag ioner and aqy balanae renanining in tfie iunda axumulsted under the provi~iona
o! (bj oi aaid ph 2 II Were ahaU be A default under aqy oi the pr~o~viaions oi this mortgage ra.
aultia~ in a p
U~e oi the premiaea oovered hereby, or it the moxtgagee eoquir~ the property ot~er-
wiae sfter delsult~ the morkga,~ee ahall apply, at the time of the ooa~nencement oi such proceedings or at
the time ths property ia otherw~ae aoqnired, the balance then remsining in the f~nds accumnlated under
(b) oi puagraph 2 precedin~aa ~ credit agrainst the amount of principal then remaining unpaid under
said note and ~kall property a uat any paymenta which ahall have been mude under (a) oi aaid paragraph.
4. TZut he ~vill p~y aU tszea, aesee~ements, w~tter rat~ea, aAd other governmental or municipal charges.
8nea, or impositions. for which provision has not been msde hereiabetore. ~tnd in default thereof the mort~
' Qag~ee may p~y the eame; and thst he will pramPtly deliver the o~cisl receipta therefor to the mortgagee. -
6. That he arill permit, oo~n~mit~ or suffer no waate, impainaent, or deterioration oi ~aid property; or
ay
~ay part thereoi; and in the event o! the failure o~ the mo r to keep th@ buildiaga on aaid premisea
and thaae to be erected on aaid premiaea, or impmvementa~
n, in good repair, the mort8a?8~ee m~? ~
mxke auch repairs as in ita 3iscretion it may deem neoesaary for the proper preservataon thereoi. and the
~ tull amount of eACh and every such payment al~ll be imac?ecliately due s~nd p~yabl~ And shalt be aecured
by the lien oi this mortgage, •
6. That he will p~y all and singular the caata. chargea, and expenses, including reseonabte law}rer's
• iees, and oonta oi ~bstracts oi title~ incurred or paid at any time by the moMga~ee becaaae oi the failure
_ on the part of the mortgagor promptly and fully to perfarm the a~greements and covenants of aaid prom-
iaeory n~ots and this mortgage. s~nd said coata~ charges, and expenses ahall be unmediately due and pay-
able and sball be eecured by t3~e lien oi thia mortgag~e.
7. That he will keep the improvements now existing ar hereafter erected on the mortgaged Propertq.
insured ns may be required iro~m time to time by the mo againat losa by tir~ and other hs~zarda,
casualtiea snd contingencies in auch ~?ounts and ~or sn~'od,e as mny be requ~red by mortgsgee.
xnd wiU_ pay pranptiy. when due. any premiums on auch insuraace ior p~yment of which provision has
not been msde hernanbeiore. All inaurance shall be carried in compan~ea approved by mortgagee at~d
the policies and renewala thereof ahall be held by mortg$gee snd hsve attached thereto loss payable ~
clanses in favor oi and in iurm acceptable to the mortgagee, In event oi loss he will give immediats '
notice by mail tA morGgagr,~, and mortgagee may make proof oi Ioes if not made prompt~y by mortgagor. +
and each insurance company concerned ia hereby authorized and directed to make payment for auch =
"loss directiy to m[ortgag~ee instead of to mortgagor and mortgagee jointiy~ ar?d the insurance proceeds. or
. sny part thereoi, may be Applied by mortgag~ st ita option either to the reduction of the indebtedness .
hereby secnred or to the re8toration or repair of the prnperty damaged. In eveut oi foreclosure of this
mortgage or ot6er ttranafer of titie to the mortgagecl property in e~ctinguiahment of tl?e indebteaneas _
secured hereby, all right, title, and interest of the mortgagor in and to any insarance policies then in force }
shall pa~s to the purchaser or grantee. - ;
8. Tivtt the mortgagee may, at any time pendiAg a suit upon this mortgage, apply to the oourt hav- ~
ing juriadiction thereof far the appointrnent of a receiver. and such oonrt ahall forthwith appoint i ~
receiver oi the premises covered hereby all and aiagular. including all aad aingular the income, prafits, ~
iasues, and revenuea irom whatever aource derived~ each and every of which. it being expre~sly under•
atood. is hereby mortgaged sa if apecifically eet iorth >tnd deacribed in the granting and habendum clauaea ~
hereof snd such rec~ver ahall have all the braad and e~fective functiana and powers in anywise ;
entrue~ed by s co~u~t to s receiver, and such appointment ahall be made by such court as an admitted ;
equity suid a matter of abeolute right to said mortgagee, and without reference to the adeqnacy or inad• =
equscy of the valne oi the property mortgaged or to the aolvency or inaolvency of said mortga~or or the ;
defendanta, and that such renta, profits, incom~ iaeuea, and revenues shalt be applied by such receiver ~ •
sawrding to the lien of this mortgage and the practice oi such courk In the event of any default on the ;
part of the mortgagor hereunder~ the mortgagor agrces to puy to the mortgagee on demaad as a ressan- ~
able monthly rental iar the prem~ses an amount at leaat equivalent to one-twelith (3i:) of the aggregate ;
of the twetve monthl,y installments payable in the then current year plua the actusl amount of the annual ~ :
~
n~
~ en~ water rat~es, and inaurance pt~emiums tor aych year not covered by the aforeaaid ~
1 -
; 9. The mortgagor further covenants that should this mort~ge and the note secured hereby not be :
eligible for insarance under the National Housing Act within 3U dqYe from the date hereof ~
~ (written statement of any officer of the Fe@eral Housing Adminiatration or authorized ag~ent of the a
~ Federal Housing Commissioner dated aubsequent to the ef oreeaid time from the date of thia ~
mortgage, declining to insure eaid note and this mortgage, being deemed conclosive proof of such in- ;
eligibility); the mortgagee or the hotder of the note may. at its option, declare all suma eecured hereby !
• • iramediately due and payable.
20. That (a) ~in the event of any breach of thia mortgage or default on the part of the mortgegor. or ~
(b) in the event that any of said sutne of money herein referred to be not promptly and fully paid with-
out demand or notice, or (c) ip the event that each and every the atipulationa, agreemenfs, conditions,
and covenanta of said note and thie mortgage, are not duly, promptty, and fully performed; thea in
_ either or any $uch evenk the said aggregate aum mentioned in aaid note then remainit~ unpaid, with
interest acerued ta that time. and ail moneya aecured hereby, ahali become due and payab~e iorthwith,
or thereafter, at the option of said mortgag~ee. aa fully and completely aa if all of the said auma of money
were orginally $tipuiated to be paid on auch dsy, anything in said note or in thia tnortg~ge to the contrary
notwithstanding; and thereupop or thereafter, at the option oi aaid mortgag+ee, without notice or demand, ~
suit at law or in equity, may be pro~ecuted as if all moneya secured hereby had matured prior to its inati- -
tution. The mortgag~ee map foreclose this mortgage, as to the amount so declared due and payable, and
the aaid premises ahall be eold to satisfy and pay the asme together with coats, expensea~ and allowances.
In case of p~rt.ial foreclosure of this mortgage, the mortgaged premisea ahall be eoid aubject to the oon-
~ tinuing lien of this mortgag~e for the araount of the debt not then due and unpaid. In auch case tfie pro-
+ visions of thia paragraph may again be avaited of thereafter from time to time by the mortgagee.
~ ' 11. That the mQrtgagor wiU give immediate notice by mail to the mortgagee o! any conveyanoe, -
~ tranafer, or change of ownerahip of the premises.
; 22 That no waiver oi uny eovenant herein or of the obligAtion secured hereby shall at nny timie
thereafter be held to be a waiver oi the terms hereoi or oi the note aecured hereby.
i, , O.R.
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