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Home My WebLink About0147 44. 'I'hat !f tbe tdal of the paymaa4 made by the Mottg;go~ under paragra~h 19 precediag ~hall escaed the amouot of P~Y~A~ actuall~r ma~by tbe Mortgagee. fa t~~ ~ad ~sxsuneots ~?~d insurance premiwna. as the c~e may be. such ezc~ess ~ shall be ccedited by the Mortgagee, at 14 optlon, oa subsequcat paymenb to ba made by the Mortgagor. If. bowever, the monthly ; payuueab made by the Martgago~ underpar~graph 19 preoeding sball be iasufficient topsy taze~ ud ass~neab and Ins~u- 3 aace pnmtum~. as the case anay be. whea tbe ssme dwll ba.~ome due aad piyabk, then the I~tortgagor shaU pay to the Mortgagee t any amwut neo~ssacy to mske up such defidency, on ~ befors tbe date when payment of such taxe~, assassmer?ta, or I~suranoe premfums shall be due. If ehero ~1 be a dafault under any oE the pravidons af this mortgage raulting In a public sab af the ~ premisas ooveral hereby os if tLe Matgagee acquires the proporty othe:wtse after default, the Mortgagee ~all apply, at the ; time d the oo~uae~cea~eat af such proceediag,t or at the time the property is othe~se acqutrcd, the balac~ce then remaining ; in~ the [wids acctunti~ated uader patagra~t~ 19 preceding u a credit against the amount then rematntng unpaid under sald note. . Rl. Tbat ia the event that this matgage Is g~iv~ea to sccuro a mnstruction loaq faiture oa tl~epart of the Martgagor or the ~ 'aiortgagor s caidractor to can ly wfth tbe te~ aE the Coast~uct~oa Loan Ag~eemern of evea ~ta herewith: which is by refer- ence inco~poraoed bereia, ~ at the optloa af tLe Mortgsgee. constitute a default here~nder. ~ 22. That the Mortgagor has totat and eompbte posseuion of the mortga8~ PrOP~rh' and that there an no lcases, rlghts of poas~ssio4 opti~s a~ agreements of any other nature outstanding with icspect to the use, possession or owaership of the moctgaged ' hereaf. except as may appear in the public recoids of the oounty ia whirb the mortgaged premises are situated as of the date ~ . f 23. The Mortgagor does hereby plcdge unto the Mortgagee, as additional collateral Eor ttie payment ~ the debt heceby secured, all of the renb, tssues and profib of tbe mortgaged property, and dces hereby authorim the Mortg~gee, upon the ~ occasion of any default hereunder. to ~ all tenanb or subtenants af the mortgaged pmperty or any part thereof to pay to the Mortgagee all reucals thereafter falling ue to be applied by the Mortgagee to the indebtedness hereby savred. 29. That iE at any tiaae whik this moatga e is in default tbe matSaB~ P~rtY shaU be abatndoned, vacated or lek unattended the Mortgagee, iE in its discretioa ~ steps Are necasac~? for the protection of the pmperty, shall have the right, ~ power and suthority at its optioa to ~ter upon theprope~ty and to seeun same by changing locks thereon, to paint and repair such premises, and to place sigos therea~ notifying that it has taken posseuion oE th~ premises and it may also place sigai ; thereoa offering to sell the premises subject to its aoquisitioq oE titk thereto by foreclaaure pmceed;ngs or otherwise; ud any 1 such action by tl~e Mortgagee as deacribed ~bove shall not be deem«i to be a trespass or trespasses or unlawful detainer upon such premises. All sums paid or advaaoed by the Mortgagee .in the protection of the mortgaged premises as herein provided shall be charged into the mortgage acoount aad beoome a~ integnJ part thereof, subjeci in all re.spects to the ternu, conditioas and eavenants af the aloraaid pronniss~ry note. and thls mortgage, u fully and to the same eztent as though apa d of the origina[ : indebtedness evidenoed by ssid twce and secured by thit mortgage, eaccepting, however, that said sums shall be repaid to the Mortgagee forthwith upoa its demand and be in additioa to the regular monthly installments pmvided by the pmmiuory note. , } 25. The Martgagee shall have the dght to ~or eutead the indebtedness hereby secured, aad such eictension or modi- ; fication shall not operate as a nk~se of the makers of pmmissoty note hereby secured, said malcers hereby ezpressly waiving notice of or consent to any such e:teasi~ or modificatioa. Partial releases of powons of tbe mort8a8~ P~~Y from the lien of this mortgage may }ikewise begranted by the Mortgagee without such putial nleases oE mortgage operating as a release of the liabiUty of any oE the malcers of the promissory note serured hereby. or other peno~ liable- for tbe payment of said pr°misso*Y note by operatioa af law or othav~rise. 26. ln tl~e eveut the j~risdicdon of the U. S. District Court s6all be imoked b~r ar against ttre kiortgagar under any ~ tht Provisio~ of the Fedeial Banlwptcy Act. such actioq whether voluntary or invoZuntary on the part of tha Mortgagor, shall auta matically, without notice, aeaekrate th~e maturity of~ aU sums of money berein desc~ibed and secured, and the same shall there- ` upon bet~ome due and payable forthwith as fully as if the said aggregate sums of money were orig~inally stipulated to be pQid ` on such date. . 2T. In the event of defauk by the Mortgagoc under the terms snd condjti~s of this mortgage or the pmmisss~ry note secund hereby. and the Mortgagor slwll have eit6er prior or subaequent to said default remo~ved or caused to be removed all or substantially all of the Mortgagor's P~~~ P1°P~~Y from the mortgaged property, then svch default and temoval of personal property shall constitute an abandonment of the mortgage~ pranises by the Mortgagor. Upon acquisition af titk to the mort- gaged pr°Pert~' by the Moctgagee by forecbsure sak or otherwise, the Mortgagee shall have the :nght to remove from the mort8agod Pr°Pe*h' anY and all I p~~y tl~erein contair~ed and no liability shall attach to the Mortgagee to aceount for said personal prope~ty or for ges oocuioned by the loss, theEt a remaval of such penonal propeity. 28. In the event this moitgage e~cumben a oooperative or condominium nnit, a default by the Mortgagor ~n perfoananoe oE his oblig~tion under the Declarahon of Condominium, gy_Laws, House Rules~ or other like doruments, shall constitute a default hereunder. ~ 29. -A c~efault~ by the Mortgagor by non-compliance with any o~ the provisions hereof d of the~; pmooissory note seeured hereby shall entitle the Mortgagee, at its option. to accelerate the maturity of the note hereby secured and demand all sums due and payabk forthwith. U _ I t- STAMP~~ ~ ~ :LiJ~CIviARY~:' ` U:: j_ ~F NEYENUE . __.~;:~-~•7e'=~~~ 6 7 8 0 t - = ~ - _ ~ , ~ ~ - - ~ ~ > :,~..;x (i ~ i,AG[ ~ I ~ ~ . . ~ - _ - av; ."'~~~-~pE~ ~ _ .r~== r . , r