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Home My WebLink About0753 ~ tir. ~r ~ .4... .r . . • ~ > .~i . w. .w • ' ( Q , ~ 1 O . •nd i~suranoe pramiunu. ~u tha caae na~y be,_such eucees ah~tl be credit~ed by the mortQ~ee oA aubsequent pqro?enta Lo De taade by the awrt~a~or. u~ however. th+~ monthly p~ymea4 au~de by the nw~~or ~ nnder (b) 4~ P~?ca~raDl? 8 PreoedTn~ ahall pot b~ sulBcient to p~y d rents. ts~ces aad ~saesamenta ~ D ~ and i~uur~cep ums~ sa tbe caae mqy be. when the aame beoome d e sad payable then the ~ . mortgagor slhall ~ to the mort~a~ee ~y unouat necees~ry to m~lce up the d~Rciency~ on or ~eiore t I~ ~ date when p a y ment o! auch Qround rea t s, taxes~ aasesemerits, or iusurance premiuma stu~ll be d~te. ~ at any tlcne We mort~a~or ahall tcader to the mortga~ee in aooo r d i wce w i t h t he provisions o f t he no t e • aecured hereby. lullp~ym ent oi the entire iadebtedness repreeeated thereby. the mort~ag~ee ahall. ;n com• ; puting the ~cnount of snch indetitedness, credit to the acoount oi the mortgagor all p~ymenta made under the pmvisions of (a) of pnraQr~ph 2 hereoi which the mort,~agee has not bc~wme obliga~ to pay to; the, , Federal Housing Commissiouer and any balance remaining ia the funda sccumulated unde , the provis,lona'•• : ~ oi (b) of said par~graph 2. Ii there sha11 be a def~?n1t under sny of the provisions of thia martgage're- ' sultiuQ in ~ public sale of the premiaea oovered herebyt or if the mortgagee ~?cquirgs the_property other- j= . ' wise aiter default, the mortgs~ee shall apply, at the tune oi the oommencement of suct~ proceedings or at : : ~ the time the pro~erty is otherwise acquired. the balanoe then remsining ia the funda accymulated under: ~ (b) oi paragraph 2 precedit?~ as a credit againat the amount of principAl then remaining unpaid under.~ sxid note and ahall properly a d~ust any paY~r?eats w hi c h a h a l l have b e en m a de ua der (a) o i sai d paragrap h:; r. 4. That he will pay all taxes. assesanaents. water rates, and other governmental or mu i l~ ipal charg~s; 's flnes. or impoaitions. for which proviaion has not been made hereinbefore, sud in default theredi t.fie"morG~' ~ee may psy the 8ame; and that he wiU promptly deliver the o~cial receipta therefor to~the n:ortgagee. b. Ttia`the~wiq permit. cbmmit~ or suffer no waate, impairmenk or deterioration oi said property or ` any psrG thereol; and in the event oi the tailure of the mortgagor to.keep the buildings on aaid premises ~?nd those t~o be erected on said premiaes. or impmvementa thereon. ia good repair. the mortgagee may make such.repairs as in its discretion it may deem neceasary for the prnper preservation thereof. and the : full amonnt of each s~ud every such payment shaU be imcnediately due and payable. and ahAll be secured . "L ~by the lien o~ this mortgage. ~ ' . , ~ •'••-6. ThBt h~~will pay all snd singul~r the coste. charges~ and expenaes, including reaeonable lawyer'a '~es, ~and costa of abstracts of title~ incurred or paid st any time by the mortgagee because oi the iailure od'ths~put of the mortgagor prompdy and fully to perform the xgreementa and covenants oi aaid prom- iasory note and th~a mortgage, and said coata. charaes, and Pacpenses ahall be immediately due ~nd pay- - able and ahall be secured by the lien oi thia mortgage. , , ~ . 7. That he wiA keep the improvementa now e~cisting or hereafter erected on the mortgaged prnperty. inaured as may ~e required from time to time by the mortgagee against Io~s by ftre and other hazard~. c~sualties. And contingenciea in such smounts and for such periods ae may be required by n?ortgagee, and will pay promptly. when due. any premiums on such iaeurance for ~ayment oi which pmvision has not been msde hereinbefore. All insurance ahall be carried ir? uom~an~es spproved by mortgagee and the policiea and renewsls thereoi ahall be held by mortgagee and luve attached thereto laes payable ; clausea in fsvor of and in form acceptable to the mortgagee. In event oi loss he will give immediate ~ ~ notioe by mail to mortgagee, and mortgagee may make proof oi loss if not made promptly by mortgagor. . snd each inaurance oompany concerned ~a heteby authorised and directed to make payment for such laes directly to mortgagee instead oi to mortgagor and mort jointly~ and the insurance proceeds, or sny thereof. may be applied by mortgagee at its option ei~r to the reduction of the indebtedneaa he~aecured or to the reatoration or repair of the property dam~ged. In eveat of foreclosure of this , ~ mo or other tranafer of title to the mortgaged properEy in extinguishment of the indebtedness secu hereby. all righk title, and interest of the mortgagor in and to any insurance policiea then in iorce shsll to the purcha~er or grantee. 8. That the mortgagee may. at any time pending a suit~ upon thia mortgage, apply to the court hav- ing jurisdiction thereof for the appointment of a receiver. and such eaurt shall forthwith appoint a- receiver oi the premiaes covered hereby all and aingular. including s~U and singular the Income. profits~ iasues. ~u?d revenues from whatever aource derived~ each and every oi which, it being expreasly under- stood. is hereby mortgaged as if specifically aet forth and deacribed in the granting and habendum clauaes hereol. snd such receiver ahall have all, the broad and eEfective functions and powera in anywiee entruated by a court to a receiver, and such appointment ahall be made by auch Court as an admitted equity ~nd s matter of absoJute right to said mortgagee. and without reference to the adequacy or inad- equacy of the value of the property mortgagred or to the solvency or insolvency oi said mortgagor or the ~ defeadanta, and that auch rents, profita, income, iasues. and revenues ahail be applied by auch receiver sccording to the lien of thia mortgage and the practice of su~h coyrk In the event of any default on the part oi th~ mortgagor hereunder~ the mortgagor agrees to psy to the mortgagee on demand as s reason- able monthly rental foi the prem~sea an sinount at least equivalent to one-tweifth (3is) of the aggregate oi the twelve monthly installments payable in the then current year plus the actual am unt of the ~?nnual tauea aaaeasmenta. water rates~ nnd insurance premiuma for auch year not oover~ by the aforeaaid mont~lY PsYmet?ta. 9. The mortgagor further covenants that should this mortga~ ge and the note secured hereby not be eiigible for insurance under the National I~Iousing Act within thl~ty d~Ys from the date hereof (written statcment of any officer of the Federal Housing Administration or authorized agent~ of the Federal Housing Commissioner dated subsequent to the thl~ty d~ys time from the date of this mortgage, declining to insure said note and this moi~tgage, being deemed conclusive proof of such in- ~ eligibility)~ the mortgagee or the holder of the note may, at its option~ declare all sums aecured hereby immediately due and payable. 10. That (a) in the event of any brpach of thia mortgage or default oa the part of the raortgagor. or (b) in the event that any of said sums of money herein referred to be not promptly and fully paid with- out demand oi• notice. or (c) in the event that each and every the stipulattoru. agreements, conditions. and covenaats of said note and this mortgage, are not duly, prwnptly, and fully performed; then ia • either or any sucti event, the said aggregate sum mentioned in said note then i~maining unpaid, with ~ intereat accrued to that time, and all moneys aecured hereby. shall become due aad paysble forthwiW, or-thereafter. at the option of said mortgaRee, ae fuliy and compMtely as if a1l of the said auma of money ' ( were oiginally stipulated to be paid on such day, anything in said aote or in thia mortgage to the contrsry ; notwithatanding; and thereupon or thereafter. at the option of said mortgagee, without notioe ar dewnd. l, suit at law or in equity. may be proaecuted as if all moneya secured hereby had tpstured 'prior to its inati- 1 tution. The mortgagee mny foreclase this mortgage, as to the amaunt ao declared due nndpsyable, and the said premises shall be eold to satisfy and pay the same tog~ether with costa, expenaes. and albwances. In case of partial foreclosure of thia mortgage. the mortgaged premises shall be sold subject to the con- tinuing lien of thia mortgage for the amount of the debt not then due snd unpaid. Ih auch case the pro- viaions of this paragraph m>ty sgain be availed of thereaiter irom time to time by the mortgsg~ee. : ~ I e; A~ ~O~ ~ac#~~J ~ ' -