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Home My WebLink About1043 ~ .v...~r rr..•. ~ t• ~?flv~~: rr.v• ~ _ 'w r.~~ _ _ _ . . • O . . - O . r . . ~nd inaursuoe premiums. a~ tlie cye nu~ ~akh edcoer slyq be credited by tbe mort~s~ee on wb~equeat p~yments Lo bs m~ds b~ ths aart~oz. ~ lwwever. the montl~I,~ pa3?ments made by the mort~at~r nnder (b) a~ pata~rsph $ Dreo~edint sbaU not b~ a~lckat ~o p~~ ~e+ound ranta. t~ucea snd as~esement~ and insurancs~iu~. ss the ca~e~ma,1 b0. whea the wne ahall beoome due aad p~U?abl then tbe aaortga8~or ahali p~ to the ~n,y amouat neoesssr~? ~O make up the def~cieocY. oa or~orc the date when p~ymen! o! such~renta, tues. aaeeeaments. or iasurance premiums ahaU be due. Ii at su?Y time the mortgaBor ahall tender to the mort~s,~ee in a~ooordance witb the proviaions of the note aecured hereby. fuUp~me~nt oi tbe entire indebtedne~aa represented thereby. the mort~a~ee ahall, in com- putiag the amount a~ a~ch "v?debtedness. credit to the aco~unt oi the mortgagor all pa~rmenta made under . the provisions of ta) o! psragriP~? 2 hereoi which the mort~ag~ee has not bcoome oblig~ated to pay to tbe Federi?1 Housing and aqt? balsnoe remaining in the funda accumiilated under the provisions . oi (b) of said psr~gnph 2. Ii there sha11 be a defaalt nnder aa~y oi the provisiona of thia mortgage,~ re- sulting in a public sale ot t!?e preraises covered hereby; or if the mortgaQee aoquires the pmperty other- v~ise after detautt, the mortSs$ee ahali aPP~Y. st the hme of the oomm~ncemeat of such proceedings or at the time the property ~s otherw~ae acqnired, the balanoe then rennainin~ in the funds accumulated under (b) of paragrsph 8 pr~~as a credit a~gsinst tbe amount of prmc~psl then remaining unpaid under ssid note aad ahall properl~? uat anY P~y'ments whicl? sha111 hsve becu m~?de under (a) of said paragraph. ~e will psy aU ta~cea. aaseasmenta~ wster rates. and other governmental or municipal chargea. Sne~s, or impositions. for which proviaion has not been made hereinbefore, and in default thereof the mort- B~Be~ ~Y PaY !he aume; and tlwt he ~vill pro~mptu? deliver the o~cial receipts therefor to the n:ortga~ee. 6. Thst he wifl permi~ co:nmit, or suffer no waate, impairment, or deterioration oi aaid property or an,y part t6ereof ; and in the event of the iailure of the mort~ager to keep the buildinga on said prem~ ~ and those to be eracted on ssid premiaes, or unprovementa tbereon, in good repair. the mortgagee may malce auch repairs as in its discretaon it may deem neoessary for the pmper preaervation thereof, and the iull hmoun~ of ea~ch and every auch payment ~hxll be immediatel,y due and payable, and ahall be secured by the lien of this mortgag~e. . g, Thst he Rill psy aU snd singular the costa, charges. and expenaes. including reasonable lawyer's ~ lees. sad c~oeta of abstracta oi tatle~ incurred or paid at any time by the mortgagee because of the failure on the part oi the mortgs8or promptly and in11Y to periorm the agreementa and covenanta of said prom- iaewry note and t6is mo a~ and said c~ata, chargea~ a~nd espenses ahalt be immediately due and pay- able and aball be sec~red by t6e lien of thie mortgage. That he ~vill keep the impmvementa now exiating or heresfter erected on the inortgaged pmperty. inaured as m~y be requu~ed fr~a time to time by the mo t~agee againat loes by fire and other hazards, caaualties. and eontingenciea in such amounta and ior auch periods as may be required by mortgagee. ana Will psy promptlY, when due. ~ny preiniuma on such wsurance for payment of which provision has 0o apan not beea made hereinbefore. A1I insuranoc ehall be carried it? oona iea approved by mortgagee and the policies and renewais thereof ahall be held by mortgag~ee und h~?ve attached thereto loes payable clauses ia favor of snd in form acceptabie to We mortgage~. In event of loss he will give immediate notice by mail to mortg~?g~ee, snd mortes8ee ma~? make proof o! lo~ess if not made promptty by mortgagor. ~ and each inaurance company concerned ia hereby sutl?orized and directed to make payment for such laes directly t,o mortgag~ee instesd of to mortgaBor and mo t8a~ee ~ointly. and the insurance proceeda, or any part thereof~ may be applied by mortgagee at its option e~ ither•to the reduction of the indebtedness hereby Becured or to the restorstion or repair oi the property damaSed. In evept of foreclosure of this mortgage or other tranafer of title to the mortgaged property in extingui~hment of the indebtedness secured hereby. all right, title, and intereat oi the mortgagor in sad tfl any inaurance policies then in force shall psss to the purchaser or grantee. ' ~ 8. Thst the mortgagee ms,y?, at any time pending a sait upon thia mortgage. apply to the court lu~v- ing juriadiction thereof for the appointment oi a receiver, and auch court ahalt forthwith appoint a receiver of the premises covered hereby ail and singular, including all sad.singtilar the income, pmfita, iasues, and revennes fram whatever aw~roe derived, each and every o! which. it being expressly under- atood, is hereby mortgaged as if apecific~lly aet forth and described in the granting and habendum ciauaes hereof, and auch reeeiver shall have sll the brosd and effective iunctiot?a and powers in anywiae . entrusted by s court to s receiver, and sudt appointment ahsil be made by auch court aa an ad~itted equity and a matter of abealute right to said mortgsgee, and without relerence to the adequacy or inad- " equacy of the value of the pmperty mortgsged or to the solvency or inaolvency of.said mortgagor or the . defendants, and that aach reats, prnfits. inco~n~ isaues, and revenues sball be applied by anch receiver according 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 mortgagqr agreea to paY to the mortgagee on demand as a reason- abte monthly rentsl for the premises an araount at least equivatent to one-twelfth (3i:) of the aggregate of the twelve monthl,y inatallments payable in the thea current year plua the actual amount of the annual ta~ces aaaesamenta„ water rates, and insurance premiama for such year not covered by the aforesaid ~ mont~ily payments. . 9. The mortgagor further oovenauts that ahould this mortgage and the note secured 6ereby not be ~ eligible for inaurance under the Nationai Houaing Act within 3p ppyg from the date hereof ; (written statement of any o8'icer of the Federal Houaing Administrsfion or authorized agent of the ! Federat Housing Commissioner dated subsequent to the 30 time from the date of thia ~ mortgage~ declining to insure said note and this mortgage, ~~~~leemed concluaive proof of such in- ~ ~ - eligibility), the mortgag~ee or the holder of the note may. at its option, declare all sums secured hereby ( immediately due and payable. j 10. That (a) in the event of any breach of thia mortgage or deiault on the part of the mortgagor, or ~ (b) in the event that any of said sums of money herein referred to be not promptly and fully paid with- out demand or notice. or (e) in the event that each and every the atipulations. agreements. conditions, ; - and covenants of said note and this mortgage, are not duly, promptly, and fully performed; then in j either or any such event, the s+Pid sg~r~e~tte aum mentioned in said note then remainin~ unp$id, with interest accrued to that time, and all moneys aecured hereby, shall become due and payabie iorthwith, ~ or thereafter, at the option oi said mortgagee, as fully and campletety ae if all of the said sam~ of money ; were orginally atipulated to be paid on such day, anythiag in aaid note or in this mortgage to the cantraty ; notwithstanding; and thereupon or ttiereafter, at the option of said mortgagee, without notice or demand, suit at law or in eqaity, msy be proeecuted as ii sil moneys aecured hereby had matnred prior to its insti- tation. The mortgagpe may foreclose this mortgag~e. aa to the amount so declared due and payable, and , . the said premises ahaU be sold to sstisfy and psy the same tog~ether with casts, expenaes. and allowancea ~ In case of partisl forecloaure of thia mortgage, the mortgaged premises ahall be sold subject to the con- tinuing lien of this aaortgage for the amount of the debt not then due and unpaid. In auch case t~e pro- visions of this p~ragraph may again be availed of ther~eaiter from tirae to time by the mortgagee il. 7~hst the mortgagor will give imm~diate notice by mail to the mortgagee of anq eoaveynnce, transfer. or- chsnge oi ownerahip of the premisea,: 12. That no waiver oi any oovenant herein or ot the obligation aecure~d hereby shaU at any titn~e thereaiter be heZd to be a waiver of the ternaa hereof or oi the note secured hereby. - - • ~.0'~