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Home My WebLink About0193 • ~ w r . ..A?. M . !,1~. .~,ss ~r.~ «t ~ ~ •~~i : .a .t. . • f' . :~~,r • Ir!r.' ~.r,~: _ ~ - • ..wrr . . . , . ~ ~ ~ 1 . ~ . . . s 'A ' w ~ ` + 4 ~d im~o~ p~imu~„ ~s the we m~yrp~, weh ~~cber ~ b~ e~ited by the mort~sq~ee an subsequ~t py~aenb ~o b~ m~d~ b~ th~ mo~t~a~ur. Yt~ ho~?ever~ the aan~ly p~ymenb made by the mort,~a~or • auadd~r (i~) ad p~s~nph ~ preoedin= ~h,~li tdot bw at~c#~att tA poy d rent~, t~cea and x~stastYteab and ipsurano~p~iu~ at the t~ m~y? be, ~rltep the uma ~beoo~e dne atad pRyable, then the ' mort~a~ar a6ati pyr to tha mortsa~ss u~y amauat neceeaary La mate np the dalkieacy, on or before the + date whao pa~rmrent a~' such sround rea4„-ts:ea. aaAeaameats, or iasur~oe premiums sha11 be due. If ~t any t~me the morts~or s1uU t~ender to the mortaa~ee in ~wcordance witt~ the provisions of the nate secured hereby; iiillp~ymant oi the entix~e indebt~dneas repre~ented thertby. We mort~~ee ahall. ;n com- pn#it~ the ~ount oi such indebtedne~s, c.redit ~o the sccount oi the mortQa~or all p~rments mwde under the provisiozu a! (a.) ot p~r~raph 2 hereoi which the mo has not beoome abl~ated to ps?y ta the u n~ Federal Houaiu~ Co~aniaaioner snd any balsnce remsini in e funda accwnulsted under the provisione ~ oi (b) of a~?id pl? 8. I! there she~ll be a def~ult under auy of the pxovisions ni thia mortgage, re- a ?i . wltin~ In a lia s~le ot the pr~aiaea covered herebY. or ii the martgaQee aoquires the property other- . wiee after deiaul~ th~ mort~a~ee ah~U apply, At the time of the comraencement of auch proceedings or a! the titne the property ~s otherw~ae acquired. the bat~nce their remainin,Q in t~he funds uccumulated under ~ (b) afp~x~ ph 2 p as a credit againat the amount oi prtncipsl then remaining unpaid under aaid nota and ~shall properlq a'ust sny p~yments which shall hr?ve been made under (a) of aaid paragraph, ~ 4, Tlutt he will psy all taxe~, a~menta, watar rst~, and other ~avernmental or manicipal chargea~ . ~lnes~ or impo~itions. for which proviaion has not.been made hereinbeiore~ and in d~fault thereof the mort-_ ~ ' ~~ee may p~y the aame; and that he wiq proinptip deliver the o~ci~t receipts therefor to the n:artgagee. . 6. That he will pernnit~ ca~nmit~ or sutler ~o waste, impAirment, or deterioration of aaid property or aay p~tt t~hereaf; and in the event of the failure of the mort,~ag~or W keep the buildinge on aaid premises ~?nd those to be erected on aaid pr~nisea. or itnprovementa thereon, in good repair, the mortgagee may ~ m~?Ice aurh repaira as in its discretion it may deem necessary tor the proper preservation ~hereof~ and the iuU smount of e~ch and every ~uch ~ayment ahall be immediately due and payable. and stiali.be secured . by the lien a! this mart,~a,~e. . 6. Z'h~~t he will p~,y all u?d ai~yular the casts, chargea. snd expensea. including reasonable lawyer'a tee~, aad casq oi ~tx,xcts of title~ mcut~xv~d ar paid at any time by the mort~agee because of the failure on the put of the mort,aagor promptly and iuily to perform the agreementa and covenants of said prom- i~ory note ~nd thi~ mortgage, aaid said casts~ charaes, ~d expenaes ahall be immedia~ely due and pay uble and shall be ae~ured by the lien of this mortgage. That he will keep th~e improvements now exiatin~ or hereaiter erected on the mortgagecl praperty~ inaured as ma,y be requir~d iram time to time by tt~e mortgagee againat laas by tire and other hazards~ . cisualt~es~ and coatin~encies in such a~ounts and for such period~ s~a nuy be required by mortgagee~ - and wiU psypro~ ptly~ when due, any premiums on auch insursnce for ~??ayment of which provision haa not b~en n~ada hereinbefor~. AU inaurance ahall be carried in companiea ~pproved by mortgagee and the policie~ a?nd renewais thereof sh~ell be held by mortgagee and have attached thereto loss payable clsuse~ in #svor ni snd in torm acc~eptable ta the mortgagee. In event of laaa he will give immediate notice b mail to mortgs~ee, awd mortgagee may make prooi of Ioas if not made promptly by mortgagor, , and ~ inuursace campaay concerned is hereby sutharized and direrted to make psyment for such loas dit~ectiy ta mortg~e instesd af to mortgagor and mort jointly, and the insurance praceeda, or . s~,y ~rt thereoi~ may be applied by mortgagee at itm option ei er to the reduction of the indebtedness hereb y sec n r e d o r t o t h e r e s t o r a t i o n o r r e p a i r o f t h e p roperty d a m aged. I n e v e n t o f f o r e c l o s ure of this mart~?~+e or other trr~na~fer ~ri title ta the mortgaged grnperty in extinguishment of Lhe indebtednesa ~ aecured her~eby. all right~ title, and inter~e~t a!' the mortga,g~or m and to any insurance policiea then in force shall pass to the purchaaer or grantee. _ 8. ThAt the mai~t,~a,gee muy~ at any time pending a suit upa?n this xt~ortgag~e, apply to the court hav- in~ jurisdiction thereoi for the appointment of a receiver, snd such oourt ehail forthwith appoint a r~ceiver of the ~remises covered hereby a~ll and aingnts?r, including all and aingular the iacorne~ profits~ iasu~ uid revenues !'rom whatever source derived~ es?ch aad every of which, it being exlreasly under- atood, i,s hereb~ mortgaged as if specit~cally eet lorth and deacribed in the grantin~ and habendum clau~ea hereoi, snd ~uch receiver shaU hsve all the broad and eftective iunctinns and powers in snywise entrnsted by a court tfl a receiver, u?d such appointment ahall be made by such court as an admitted eeYuity atid a matter af abb~olute right to said mortgagee, and withoukreference ta the adequacy or inad- a~,ay n~ ;;a t,~~ ~u~c.he p~nperty mortgaged or to the aolvency or insolvency of said mortgagor or the ' ts, profita, incorne~ ieauea, and reveaue$ ahall be applied by auch receiver • scoording to the lien of this mortg~ge and the practice of such cout~t. In the event ~f any default on th~ psrt ot the mortgs~gor hereunder~ the mortgagor agreea to pay to the mortgagee on demand as a reasan- able monthly rental for the premisea an amount at least equivalent to one-~welfth (l;lY) of the aggr~egate oi the twelve monthly inatallmenta payable in the then current year ptua the actual amount of the annual ta~ces aaseasmenta. water ratea, and insurance premiuma for auch year not covered by the aforeaaid monL~ilY P~Y~~~ • . 9~ The mortgagor further covenant~ that should this mni~tgage and the note secured hereby nut be eligible for insurance under the Natiot~al Housing Act within~ii~st' Oays from the date hereaf ~ (written statement of any officer of the Federal Housing Adminiatration or authori~ed agent of the Federal Housfng Commisaioner dateci sut>sequent to the ~5is~ty l7ays tame from the date of this mortgage, declining t,~ ineure said note and this mortgag~e~ being deemed ~nclusive proof of such in~ eligibility), the mortgag~ee or the holdei• of the note may~ at its ~ption~ declare all sums $ecured hereby immediately due and psyable. ~ 10. That ~a) i~n the event of any breach of this mortgage ar default on the part af the mortgagar~ or (b) in the event that an~? of esid suma of money herein referred to be not promptiy and fuliy paid with- out demand or notice, or (c) in the event that each and every the stipulationa, aQreements, conditions, and coveru~nb oi ssid note xnd this mom~~tg~, sre not dulY, D~wmptly, and i'ully periormed ; then in either or any aucii event, the said aggregate sum mentioned in aaid note then remaining unpaid, with antereat accrued ta that time~ and all money~ secured hereby, shsll l~come due and payabl~ forthwith~ or thereafter, at the option of aaid mortgagee, as tally and completely as if al! of the naid sums of money were orginally atipuluted to be paid on auch day, anything in aaid note or in thi~ mortgage to the contrary notwithatanding; and thereupon or thereafter, at the option of said rnortgag~ee, without notice or demand, suit at law or in equity, may be prosecuted as if alt moneys secured hereby had matured prior ta its insti- ' tution. The mortgagee may for~close this mortgage, as ta the arnount sa declared due and payable, and the said premises ahail be sold to aatia#~and pay the satue t~ether with coata~ expensea, ~nd allowancea, Itn case of partiAl foreclosure of this mortgage~ the mortgaged premisea shall be sold subject to the con- ti~uing lien of thie martgage for the amoxlnt af the debt not then due and unpaid. In auch case the pro- vieiona oi this paragraph msy agsin be availed of thereafter from time to time by the mortgagee. ~ 1 , ~ aaaK ~i3 ~.9~ _ . _ _