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Home My WebLink About1317 ~ ~ ~ and iasnsanoe preniamr, a~ the are mp aueh i~ioea chall b~ ciredited b~ t6e morts~ee oa wb~eqoest pqyments ~o be mrde b~ the mort«a~or.~, however~ the ma?tbb? p~yments msde by tbs moet~a~o: nnder (b) a~ para~rap6 8 pz+eoedins a6ali not b~ wlnciedt to pa~~r~oun d r~b. taaas aod as~enroeats ~ and inauranoe as the c~w m~y be. when ths wne ~Lsu beoome dns and pqrab t6en the w ~L mort,~s~gor p~ to tbe aqy amount n ~sasry ta make ap the defkknq?. oo ar~ors the ~ date when p~yment oi snc~~ira~ta,~ t~uces. a~sessin~~ ei~~s, or insur~nc~ ~+r~miums shsU be dne. 1t at any time t6e morttag~or sh~ll tender to the mort~agce ia aa~ordaaca w?ith tbe provLiwis oi the note aecured hereby. ibU t ai the entira indebtednees repraented thereby, the mo~rt~ee ahall. io ooin- a~ putia~ the amount soch indebtsdness. cr~dit to the nccount oi t1~ mort~or aUpaym~nts msde under the proviaions oi (s) oi par~raph 8 hereoi whict? the mort~agee has not beoane obli~sted to p~y to the ~ Federal Housing and an,~r balanoe r~mainin~ in the funds aocumuLted uncler t6e proviaions ' oi (b) o! asidu~u~grapb 2 Ii there shsU be a deiwlt w?der ~r oi the proviaions oi t6is mortg~e re- aulting ia a p bHc aab ai the premiaea oovered hereby, or ii the mortgagee a~oquires the property ot~ee~ wiae aiter defanlt, the mortgag~ee ahaU apply, at the time o! the oommenoement o! auch prooeedings or at the time the prope is othervriae acquired. the balance then remaining in the innds aaumnlated uader (b) ofpara,graph preoedia~_aa a credit against the amount oi princip~l then remaiaing unpaid nnder asid note aad shall pruper~y ad~uat u~y p~ymeots which ahall have been made under (a) of aaid par~raph. 4. Thst he wIll p~ aU tuea, asaeamnenta. water rat~ea. and other gmrenunental ar mnnicipal charBes. llnes, or impoaitions, ior which proviaion haa not been made hereinbefore. and in default thereoi the mor~ g~g~e no~ p~y the same; aad thst he will pramptl,y deliver the otflcial receipta thenior to the ~ortgagee, 6. That he will pernnik oommit, or auffer no waste, impairmenk or deteriontion of said property or ~ an,y part thereof; snd in tbe eveat oi the iailure ai the mortgag+or to keep the buildings oa said premisea and ~hoee to be ere~ted oa asid premiaes. or improvementa theri.wa. in g~ood rep~tir. the mortgagee nu~,y ~ make anch repsi~t as in its discretion it may depm uecessary for the proper preservat~On thereoi. and the fiiU amonnt of ~ach and every such payment ahall be immediately due aad p~?able, and ahall be secured by the lien oi thia mort~g~, ~ ' & Thst he wIIl p~ all and eing~lar t6e costa, charges~ and ezpenses, incl reasonabk lawyer"a ' fe~ and oosts o! ~tra~s of title~ incurred or p~id at eny time by the mortgag~ee~use of the fiilure on the part o# the mortgagor pro~nptly snd inlly to perform the agr~ements and oovensnta of said pr~n- is~ory-note and this mortgag~ and aaid eo~ts~ char~es~ and expenaes ahatl be im?med'ut~? dne and p~y- able and shsU be aecured by the lien of this mort~~ge. . • That he will kee~ the improv~ente now exiating or het~eaiter erected oa the mo,rtgag~l propearty ~nsured as m~y be reqmred frona time to time by the mortgagee nst lass by 8re and other hasards, la s caaualtiee, and oonting~ncies in such ~unounts and tor such perl as ma,y be required b~ mortgage~ and wiU psy promptly, when due, any premiums on $uch inaur~nce far ~yment o! which prnviaion h~s not been made heninbefore. All inaurance ahall be canied ia comp~u es approved by mortgagee and the policies and renewals thereoi shall be held by mortgagee and bave attached thereto loes p~yabb clauaea in favor of and in iorm aooeptsble t~ ttte mortgagee. In event of loes he wiU give immediate notice by m:il to morkgage~, and mortgs~ee may make praaf of loss if not made pramptly by mortgigor. and each inaurance eamp~ny concerned ~s hereby authorized and directed to make pa,yment far snch ~ loaa directly to mort,g~g~ee inatead of to mortgagor and mortga~e jointly. and the insuranoe proceeds, or ~ a~~y ~art thereof. m~y be spplied by mortgagee at its option either to the reduction of the indebt~dneas ~ ereay seeured or to the reatoration or repair of the property damaged. In event of io:+eclasure oi this j mortgage or other trin~fer af title to the mortgaged property in extinguishment oi the indebtednesa . ; eecured hereby, all right. title~ and intereet of the mortgagor in and to sn,y insuranoe policies t~en in force ` shaU paae to the purcliaser or grantee. _ s 8. That the mortgag~ee m~y. at aqy time pending a suit upon thiu morEgage. spply to t6e eourt Iiav ing jarisdiction thereof for the appointment of a receiver~ and auch oourt ahall forthwith sppoint s re~eiver of the premi~ covered hereby all and aiagular, iacluding aU nnd singulu t6e iaao~ne~ profitsr isauea, and revenn~ fran whatever souroe derived~ each snd every of which, it beina eupreesly nnder_ atood, i~ hereby mortgag~ed as if apecittcally aet forth and d~cribed in the granting and habendnm clausea ~ hereoi, and anch reoeiver ahaU have all the brosd and eRective innctions and powera in snywise . entn~stea by a court to s receiver, and suc6 appointmeat ahall be made by aw~h ~ourt as an sdmitted ' equity and s matter of sbeolute right to aaid mortgagee, and witlwut referenee to the adequacy or inad• equacy of the valne of the property mortgaged or to the solvency or insolvency of aaid mortgag~nr or the defendants. nnd tbat such re~ats, proiita„ income, iasuea~ and revenues shsU be spplied by awh reoeiver aa:ordiag to the lie.n of th~'s mortgage and the pnctice o~ auch oourk Iu the evmt of sAy defsult on the ~ part of the mortgag~or herennders the mortgagor agreea to p~?y to the mortg~ on danand as s reason- able monthly rental for the premises an amount at teast equivalent to one-twelfth t3i:j of the aggreg:te of the twelve moath~,y installmenta payable in the then cunent year plus the uctusl amount of the snnoal tazea aasesaments, water ratea, and insurance premiums 'for such yeu not oavered by the afor~aid mont~ly pspmeata. 9. The mortgagror further covenanta that should this mortgage and the note aecured hereby not be eligible for insurance under the National Houaing Act within 30 daye fram the dste hereof (written stat~ement of any officer of the Federal Housing Adminis~ration or anthorized agent o~ the Federal Housing Commisaioner dated subsequent to the af oresa La time from the dste of this mortgage, declining to insure said note and this mortgage~ being deemed ooncluaive proof of anc6 in- eligibility)~ the mortgag~ee or the holder of the note may, at ita option. declare sll snms secured het~eby immediateTy due and psyable. 10. That (a) in the event of any breach of tfiis mortgage or default on the part of t6e mortgag~ar, or (b) in the event that any of said ~wna of money herein referred to be not prumptly snd fnUy pzid with- out demand or notice, or (e) in the event that each and every the stipuLtions, ~ts. c,onditions~ ~ ~nd caven~at~ oi a~ld note ~nd thL mort~tge, are not du1Y. P~Ptiy~ and fuUy periormed; ttku tn either or any such event, the eaid aggtegste sum meationed In eaid note thea rem~inina napsid, with intereat accrued to that ti~ae, and all ~neys aecured hereby, ahall beoome due snd psyabk iorthwith, or thereafter, at the option oi said mortgagee, as fuUy and oanpletel,y aa if sU of tye aaid aums of money ~ were orginaUy atipulsted to be paid oa such day, aaything in eaid note or in t6is moe~t~g~e to tl~e oonEtary notwithsts~nding; aad ther~.wpon ar thereafter, at the option o! eaid mortgage~ withoot ~wtioe c~ dem,snd, auit st law or in eqnity, msq be prosecuted aa if all moneya eecured hereby had tnstnred prior to its iasti- tution. The aartgsgee may forecloae thia mo . aa to the amonnt so declsred due snd~a~sb~, and the aaid premiaea shall be sold to ss~tiafy and pa~ same together with costs. exPenses. snd atbwaaoes. In csee of partiat foreclosun of ttua mortgage. the mortgaged premia~s shaU be sold aubjeet to the ~on- ~ tinuing lien of thia mortgage for the Amount of the debt not then dne and unpsid. In such case tlre pro- visions of this paragrsph msy again be svailed o! theresiter iro,~n time to time by the mostaa~ee. • ' il. Tlut the mortaagr?r will give immediate notice by mail to the .mortga~ee oi any eonwqrano~ ~ no trsnsfer. or chsag~e oi owner~hip of the premises. ~ ` 12. Tbst m waiv~er o! any covensnt herein or oi the obli~stlon ~ecnred hez+eb~r shaU st a~ tims i thereaiter be Ldd to be a wsiver oi the tern~s hereoi or ~i~he qp~e,~ecut+ec~~~b~r, ~ 8t~;~~ 11t1 r~cE 1 L~