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Home My WebLink About1679 r~++~w~~!_?Mli~.~=+~?•~W~v`.?v-•*-• _ ~L`~~~r'.wi ' •.rr.• .~~.~i~.1' ,...w.+.~r~-+~..,~ ~ ~ . ~ ~7~G~i3 ~ ` ! . and iawraoos p~+emimM, Y th~ cw se~r be~ _w~h ~atoe~ shaU b~ credited by the mort~Qee on subaeQue~?t oW?m~e?a ~o b. m.a. b0r th. mortsa~or. ~t~ bow~ns, tb~ monthly p~ymenta made by the mort~a~or oader (e) od p~ta~ranh ! pero~dia~ ~1u11 aot b~ ~!o p+U~?~round renb, taxa and aasesaineat~ and inwrana as tbe caN my? b~ wb~a th~ wno s~haU beoome due and piyable then the h~ da~ D+U~ ~ fA~~r~nt~i, t~es. are~~ or inaeuraaoe premiuma ~s~hnill beedue t If ~y, ~~pct~ot ~b~ll teader ta? th~ aaort~ee io acoordance with the provisio:~s of the note ~H t oI t4e enttre ind~btedness rep~+e~ented thereby. the mortgagee ahall~ in com- putin~ th~ ~a~indeb~tedow. credit to the acoonnt oi the mortQs~or all pa}?menta made under the provisiona a~ s) a~ ~arasraph 8 dezeo~i wbich the mor~,~ee haa not become obl~gated to pay to the Federal Houdas and aq~ ba4nae remain in the funds ~ccwnulated under the prnviaiona oi (bj at ~sid It thsre ahall be a detault un~ any oi the proviaions of thia mortgage re- ault~a~ ia a po~~~the pr~ni~e~ oovet~ed hereby or ii the mortgagee acqutrea the property ot~er- wiee aiter deisak, ti~ ~a~t~a~ee sha~! ap . at tbe t~me oi the ooaunence~nent of auch proceedibgs or at the time the prop~t is c~?erw~se a~oqnire~the halanoe thea remaining in the fands accumulated under (b) oi para~raph 8 pn~aa a credit ~sinat the amount oi principal then remaining unpaid under uid nols sad st~sD propetc~ utt sny p~ymenta wluch ahall luve been made under (a) of aaid paragraph. 4. Ttiat he wi8 p~y aq tases, aasessmenta, wster rates. and other governmental or municipal chargea~ ~tea, or impoaitions. !or whic6 provision hss not been made hereinbefore, and in default thereof the mor~ ~aQee ma,y pay t6a aame; and t~ut he will pro~mptly deliver the o~ci~l receipta therefor to the mortgagee. 6. That he vviq permit, oommik or suSes no waste, imps~irment, or deterioration of said prnperty ar k any psrt thereoi; and in the event a~ the failure o! the mortgagor to keep the buildings on aaid premisea ~ and ~haie to be erected on said pre~ni~. or improvementa thereon, in good repair, the mortgagee may make such rep~iss as in its discretion it m~q deem neceaaary for the prnper preservation thereof, and the inll amount oi each and every auch psyment shall be immediately due and payable~ and ~dhall be secured by the liea of t6is mort$ag~e, ~ ~ 6. T6at he will pay aU and sinQular the uoete, char~es, and expenses~ including resaonable lawyer'a fe~, snd costs of abstracta oi titie, incurred or paid at any time by the mortgagee becs~~se of the failure on the pait oi the mortgagor pt~o~nptly sad iully to pertorm the agreementa and covenanta of said prom- ieaory note and this mortgage. and said ooata. char~es, syd expenses ahall be immediately due atid pay- sble and ahall be aecured by the lien otthia mortgag~e. 7. That he will keep the imprnvementa now existing or hereafter erected on the mortgaged property, insured as may be requIred tmm time to time by the mort~agee againat loas by tire and other hazards, ex~s~alties. and contingenciea in auch amounta and for aucb perioda as may be required by mortgagee. and wiU psy promptly, when dnp., any premiuma on such inaurauce for ~ayment of which proviaion has not been made hereinbefore. Atl inaurance ahall be canied in companies appmved by mortgagee and ~ the policies and renewala thereaf ahall be held by mortgagee and have attached thereto loss payable " cla~ in iavor oi 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 of losa ii not made prnmptly by mortgagor. and each inaurance company concerned is herehy authorized and directed to make payment for such lasa directly to mortgagee instead oi to mortgagor and mortgagee jointly, and the inaurance proceeda. or a~,yp~ thereof, may be applied by mortgagee at ita option either to the reduction of the indebtednesa bereby aecured or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage or other transfer of title to the triortgaged property in extinguishment of the indebtedness aecured hereby, all right, title, and interest of the mortgagor in and to any insurance policies then in force ehsll pase to the purchaser or grantee. . - . & That the mortgag?ee msy, at any time pending a suit upon thia mortgage, apply to the court hav- ing iuriadiction thereof for the appointrnent of a receiver. and such court ahall forthwith appoint a receiver of the premises covered hereby all and aingular including all and singular the income, profits, iaauea, and revenuea from whatever eource derived~ eac~ and every of which, it being expressly under- stood, ia hereby mortgaged aa if apecifically aet forth and described in the granting and habendum clauses hereof and such receiver ahall have all the broad and effective functions and powera in anywise entrus~ed by a court to a receiver. and such appointment shall be made by such court as an admitted ecruity and a matter oi absolu~e right to aaid mortgagee, and without referenoe to the adequacy or inad- equacy of the value of the prnperty mortgaged or to the solvency or insolvency of said mortgagor or the . defendants, snd that such renta, profita, income. isaues. and revenves ahall be applied by such receiver - ' acxording to the lien of this mortgage and the practice of euch courk In the event of any default on the . part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reason- sble monthly rental for the premisea sn amount at least equivalent to one-twelfth (31z) of the aggregate of the twelve monthly instaliments payable in the then current year plus the actua2 amount of the annual tazea as~ssments, w8ter ratea~ and inaurance premiuma for such year not covered by the aforesaid mont~ly paqmenta 9. The mortgagor further covenants thst should thia mortga ge and the note secured hei~eby not be eligible for insurance un~:er the National Housing Act within 3U days from the date hereof (written statement of any o~'icer of the Federal Housing Administration or authorized agent of the Federal Housing Comraisaioner dated suhsequent to the aforesaid time from the date of this mortgage, declining to insure said note and this mortgage, being deemed conclusive proof of such in- eligibility). the mortgag+ee or the holder of the note may. at its option. declare all s!~ms secured hereby immediately due and payable. 10. That (a) in the event of any breach of thia mortgage or default on the part of the mortgagor~ or (b) in the event that any of said suins of money herein referred to be not prnmptly and fully paid with- out demand or notice, or (c) in the event that each and every the stipulationB, agreements. conditions, and covenants oi eaid notc and thia mortgage~ are not duly, promptly~ and fuliy periormed; lhen in either or any such event, the said aggregate sum mentioned in said nofe then retnaining unpaid. with interest accrued to that time, and all moneys secured hereby~ shall become due and payable forthwith, or thereafter, at the option of said mortgagee, as fully and completely aa if all of the said sums of money were orginally atipulated to be paid on such day, anything in said note or in this mortgage to the contrary notwithatanding; and thereupon or thereafter, at the option of said raortgagee. without notice or demand, ~ auit at taw or in equity~ tnay be prQSecuted as if all moneys sec~~red hereby had matured prior to its insti- tution. The mortgagee may foreclose thia mortgage, as to the amount so declared due and payable. and the said premises ahall be sold to satisfy and pay the same together w ith costa, expenses. and allowances. In case of partial foreclosure of this mortgage. the mortgaged premisea shall be sold subject to the con- tinuing lien of this mortgag+e for the amount of the debt nat then due and unp~aid. In such case the pro- viaions of thia ~aragraph tnay again be availed of thereafter from time to time by the raortgagee, 21. That the mortgagor will give immediate notice by mail to the mortgaaee ai ~ny conveyance; tranafer, or chang~e of ownership of the premises. • 12 That no waiver oi any covenant herein or of the obligation aecured hereby ahsq at any tirrr~,ee thereatter be held to be a waiver of L~e terma hereof or of the note secu~.he~~0 FAcE 475 ~ ~