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Home My WebLink About2581 , . ~ . . . i ~ o c~ . : • y ~M ~IId ~iYt~110~ ~1i11AY. Y Ul~ CW nly ~WCh QOM~ /~li~l C2~~~ ~ ~'10l~j~~!! ~1 ili~QY~~ • 1 ~pl~~ ~p ~ ID~ ~ ~l! ]1f0~Or. ~ ~O~IOV~r~ ~ n10i1~ D~a 1l~0 ~ ~ ~R~'~ - OII~!' ~b~ ~ D~Ti~~ = D~~ ~1 ~ ~ /11~C~aOt ~ ~ :'W~ iIId ~qlYl~lOAtt . ~ and insurano~s~p~tt~ ~t ths cw m~ b0. wheo the aaaN ~beaoont dw and p~ysbie~ th_en the . eriort~a~or shaU pq? to the aaJ? ~monnt aeoes~s.7? ~ mat~ np th~ deAcienq. w? or beiore the i, date~ whe~ p~1?ment o~ wch j~rents~ ts~ces. a~eeeamenb. oar insaraa~e Premimas shaU be dua If ~ at any time the mort~a~os' ~ha11 teadsr to the mort~aQee in aooo~danos with t6e P~?isiotu oi the note t aecnral hereby, irillp~yment a~ the e~ntlrs indebtedneas repre~eated therebY. the mort~a~ee sha11. in com- ; pntin~ the amount oi such csedit to the aoooant of the mort~a~or aUp ~~aents made under the pro~viaions o! (a) o~ p~ura~raPh 8 bereo~! which the mort~a~es has not beooone obl'~ated ~o pay to the Fedenl Honsia~ C~o~oam~aaonear snd any balsnoe rematn in the tunds ~ocuanulated w?der the provisions oi (b) at ssid 2. Ii there sbaU be a detanlt nn~er ~ oi the proviaions oi this mortg~ re- sn]tin~ in a p lic ssle os tb?e premisea covered hereby or if the mort~a~a a~o4ni~res the Properht ot~?er- • m ; ~ wise atter detault, the mor~~p~g~es ahall spPly~ ~ at t6e t~me ~ the ooauaenc~nent oi wch prooeedi or at ~ the time the prope is oth rwise a~vquired, the balanoe th~ in the irinds accwcaula under ~~(b o!par~rs ph 2 p as a credit ~gainst t6e anwuntr~[ ~~pal then remaining unpaid under : ~d nots and dull Pr'op~~nst aRY P~?ents which shall hsve been made nnder (a) oi uid parstgraph. . 4. That he will p~y sll t:zes. aasessments. water rates. ~nd other govermneatal or mnniciPal clu~rBes. •~nes. or impositiona, ior which provision has aat be~ m~ie hereinbefore. snd in detault thenof the mort- BaBee a~i? Pa,Y the same; and tbat he will pro~mpt~? deliver the official reoeipts therefor to the ~~rtgagee. i ~ 6. ~?t he will permik co~n~mit, or auRei' no wast0. imP~irment~ or deterloratioa of satd ~rope~cty or ' ; s?n~ psrt thereoi; and in the event oi the isilure oi the mortgag~or to keep the buildings on sun premisea i and ~hosa to be erected on aa~d pre~nises, or improvemenb thereon, in good repair. the mortgagee msy ~ make snch rep~ira as in its discretion it m~~y deem neoeasary for the proper preservation thereoi, and the fnll unount of each and every anch p~yment ahill be imm~dist~Y due and p~?able, snd ahaU be aecured by the lien o! thia mortgag~e. ~ . ~ 6. Thst he wril pa~all and ain,~ula_r the oosts. charg~„ and expenses. incln reasonAble lawyer's tees, and costs of iibetncts o! t~t]e, incurred or p~?id at any titne by the mort~ ~~eeuse of the fiilure on the part oi the mortgsgor promptly aad to pertorm the agreements ~und oovenanta oi aaid protn- issory note and ffiis mo ~?nd asid oosts,fi~~har~es, and expaaaes ehall be immediately due and p~y able and shall be~ecured b~ liea of this mortgs,~e. 7. That he will keep th~e imprevements now exiatirig or hereatter erecttd on the mortga~ed Prop~rt3?. ~nanred aam~? be reqnired irosn time to time by the mo~~e~~ t loss by lfre and other hazarda. casuslties. and oontin~eacies in snch amounts and for such periods as m~~y be required by mortgagee, ~d ~ill p~y promp~y, w?he~ da~e~ an~y p~aiums on auch iwaranoe for ~n~nt oi which proviaion 1us . not been made hereinbefore. All insurance shall be carrted in eompan~a spproved by ~mortgAgee and ` the policies and renewsls thereof shall be held by mortgag~ee stnd have sttached t6ereto Wes p~yable clanses in favor of and in form aaeptable to the mortgagee. In a~?t oi loes he wiU ~Ive immediste - aotioe by msil t~ mortga8oc, and mortgagee may mske proof of loss ii not made promptly by mortgagor, . and ea~h insnrancs eo~npany conoerned ia hereby authorized and directed to m~lce payment for auch losa directlY to mortgaSee inatead oi to mortgagor and mort~~ 3ointiy. and the insurance proceeds. or • aAy pa~t thereoi, ma~y be applied by mortgsgee at its option ei er to the reduction of the iudebtedness ~ hereby secured or to the restoration or repair of the perh? dams~ed. In event of foreclasure oi this - mort,~ag~e or other transfer o! title to the mortg~ged ProP~rt~Y ir? s~ctin~i~shment of the indebtedneas sec~u~ed herebY, a11 ~ht, title~ and interest oi the mortgaSor ~n and to aa,y insuranoe policiea then in foroe aball paas to ~he pur~ichaser or grantee. - ~ : 8. Thst the mortgag~ee msY. at ~u?Y time pendin~ a snit npon th~s mortg~e. apply to the oourt hav ing ~nrisdiction. thereoi for the appointment of a receiver. and such eoart ahall forth~?Ith appoint a reoeiver oi the premises eoverecl hereby all and singular. inciudin~ all ~nd~~u Lr the inoome. Proflta. iasues, snd rev~nnes ironn whatever souroe derived~ each and ev. of ~vhich,3t being ~xpressly'ander~ atAOd~ is hereby mortgag~ed as if speciflcaUY set ioz~ and deecribed~ the grantin~ and hsbendum clauaes hereoi. snd auch receiver absll have all the brosd and eRective functions and powen in anywise . entrusted bY a oonrt to a receiver. and suc6 appointmeat s~uU be made by sach eourt as an admitted eqnity and s_ matter of ibeolute ri~ht to ssid mort~s~ee, and without referenoe to the adeqw~cy or inad- ' equacy of the vslue oi the property mort,~ag~ed or to the solvency or ipsolvency of aaid mortga~or or t6e ' defendants, snd that anch renta. ProBts. woane, issues. and ravenaes shall be applied by suca receiver ~ uoo~ to the lien o! this mort,~age and the ~practtce o! auch ooark In the event of sqy detault on the ~ put o! e mort~gor hereunders the mortgagor agrees to psy t~ the nwrl~ on d~nand as s reaso~ t able mont~ily rental for the prem~sea in amount at le~st equivalent to an~tw th oi the aggre8ate e of the t~velve monthly installments psyable in the then current year pins the actual iunount oi the annual ' ta~ca ~ses~ents, ~rater ntes, snd insurance premiuaas !ar anch yeu not covered by the afores~id s mont~ly pa~ymeats. ~ ~ 9. The mortgagor further oovenants that ahould this mort~ag~e and the note aecured hereby not be ~ eligible for insurance under the National Houaing Act within 3U Qq ~ irom the dmte hereof ~ (writtsn stutement of any officer of the Federal FIcuaing Admintstrs~ion or suthorized a~~ent of tha ~ Federal Houaing Commiasioner dated aubsequent to the 30 time from the date of this F mortgaQe, declining to insure aaid note and this mortgage, .~~deemed conclusive proof of auch in- ~ eligibility). the mortQag~ee~ or the holder of the note may, at ita option, declare aU sum,s secured hereby 4 immediately dae and payable. 10. That (a) in the event of any breach of this mortgage or default on the put of the mortga~or. or ~(b) in the event ttu~t any of asid suma oi money herein referred to be not promptly and f1~llq ps-id with- = o u t d e m a n d o r n o t i ce. o r ( e) i n t h e event t h at each and ev e r y-the atipulatio~ s. a,~ r e e a r e nts, oonditions. ~ u?d ~ovenaats oi said note aad this mort,ga~e. are not d~•y, prom~p~ l y. ~a iunq ~ro~a; then in ~ either or any such event, the saidaggregate aum mentioned in saici note then i~emaining unpsid, a?ith f interest ucr~ed to that time, sad sll moneya aecured hereby, ahall beoome dne snd psyabk forthwitb. ~ or thereafter, at the option o! said mort~agee, aa fully and oompletely sts if all oi the said wms oi money . _ were orgiaall~? stipulated to be p~id on such dq,y, an,ythin~ in said note or in thi,s mortaa,~e t~ the oentrary ~ notwithstand~ng; and thereupou or there~iter, at the option o! aaid niortgag~ee, without notiae or denuad. suit st taw or in equity. msy be Prosecuted aa if sU moneya ~ecured 6ereby had matured prio~ t~ ib inati- ~ _ tution. The mortgag~ee may foreclaee this mort~sge. as to the s~wunt so decisred dae and }~ayable. snd the aaid premisea shall be sold to satisfy and p~y the aame er a?ith costs. and albaranoes. - In c~ee oi partial foreclosure of this mort~s~e. t~he mortga;g~prenaiaes shaU be~jeet to tl?e oon- tinuing lien of thia mortga~e for the amount oi t1k debt not tben dne and unpaid. In audt aue the pro- • visions of this pars~~Ph ms3? aSain be svsiled oi thereaiter iro~n time to tlme b~r the mort~a~ee. : ; ' . . _ ~ ' ~ . ~ ~o~~ ~:12 ~c~ 177 ~ ~ - . , - , . -t~