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aad tnaurance premiums, as the ~aae may ba guch exceas $hall be credited by the mortgagee on ~ubsequent j
payment~ to be made by the martgagor. ~f, however, the monthiy payments made by tho mortgagor ~ i
under (b) oi paragraph 2 preceding ahall not be eutl~cient to pay gr.ound rents, taxes and assessment8
and inaurtince premiuma ~s th~ case may be~ when th~ eame ahall.become due and payable then the
mortgagor sha11 pay ta t~e mortgagee any amount necesgary to make up the deftciency~ on or ~efore the
date when payrrient o# such ground rents, taxes, asse~smenta, or inaurance premiums shall be due. If
at any time the mortgagor $hall tender to the mortgagee in accordance with the provisions of the note
aecured hereby, full payment of the entire indebtedness represented thereby~ the mortgagee ahall, in com-
puting the amount of such indebtedness, creciit to the account of the znortgagor ull pa~ments made under
the provisiona of (aj of paragraph 2 hereof which the mortgagee has not b~come obl~gated to pay to the
Federal Housing Commis$ioner and any balance remaining in the funds accumulated under the pravisions
of ( b) of said paragraph 2. If there ahall be a default under any of the provisione of this mortgage~ re-
aulting in a public sale of the premises covered hereby, or if the mortgagee acquires the property other-
wise a f t
er de fau l t, t
he mo r tgagee a ha l l app ly~ a t t he time o f t he commencement o f suc h proceedings or at
the time the progerty is otherwise acquired~ the balance then remaining in the funds accumulated under
(b) of paragraph 2 precedin as a credit against the amount of principal then remaining unpaid under
aaid note and shall properly a~just any payments which shall have been made under (a) of said paragraph,
4. That he will pay all taxes, asaeasments, water rates, and other governmental or municipal charges, ~
flnes, or impositions~ for which proVieion has not been made hereinhefore, and in default thereof the mor~
gag~ may pay the same; and that he will promptly deliver the officiat receipta therefor to the mortgagee.
6. That he will germit, commit, or suffer no waste, impairment, or deterioration of said property or ~
any part there~f; ~nd in the event of the failure of the mortgagor to keep the buildings on said premises''•-,, ~
~nd those to be erected on said premises, or improvements thereon, in good repair, the mort~agee may j
make such repairs as in its discretion it may deem necessary for the proper preservation thereof, and the
~ full amount of each and every such payment shall be immediately due and payable, and ahall~ be secured ' ~
~ by the lien of this mortgager .
6. That he will ~pay all and ~ingular the costs, eharges, and expenses~ including reasonable lawyer's .
lees, and costa of abstracts of title~ incurred or paid at any time by the mortgagee because of the failure •
on the part of the mortgagor promptly and fully to perform the agreements and covenants of said prom- • ~
issory note and this mortgage, and said costs, charges, and t~xpenses ahall be immediately due and pay- ~
able and shall be se+cured by the lien of this mortgage. ~ '
~
That he will keep the improvements now exiating or hereafter erected on the mortgaged property~
inaured as may be required from time to time by the mortgagee against losa by fire and other hazards,
casualties, and contingencies in such amounts and for such periods as may be required by mortgagee,
~ ~.and will pay promptly, when due. any premiums on such irusurance for payment of which provision has
ti not heen~made.hereinbefore. All insurance shall bc carried in companies approved by mortgagee and
- the policies~-and renewals thereof ahall be held by mortgagee and have attached thereto loss payable
' clausea ~ favor of and in form acceptable to the mortgagee. In event of loss he wilt give immediate
notice by mail to mortgagee, and mortgagee may make proof of loss sf not made promptly by mortgagor; -
. and each insurance company concerned is hereby ae~thorized and directed to make payment for such
loss direetly to mortgagee instead of to mortgagor ~nd mortgagee jointly, a~d the insurance proceeds, or
any part thereof~ may be applied by mortgagee at its option either to the reduction of the indebtedness
' hereby secured or to the restoration or repair of the property damaged. In event of foreclosure of this
i mortgage or other transf~r of tttle to the mortgaged property in extinguishment of the indebtedness
Secured hereby, all right, title, and intereat of the mortgagor in and to any insurance policies then in force
. ~ ahall pass to the purchaser or grantee.
S. That the mortgagee may, at any time Fending a suit upon this mortgage, apply to the court hav- i
ing jurisdiction thereof for t~e appointment of a receiver, and such court shall forthwith appoint ~
receiver of the premises covered hereby all and singul~r, in~cluding all and singular the income, profita,
iasues~ and revenues from whatever source derived, each and every of which~ it }~eing expressly under-
stood, is hereby mortgagec~ as if agecifically set forth and deacribed in the granting and habendum clauses
hereof, and such receiver shall have all the broad and effective funetions and powers in anywise
. entrusted by a court to a receiver, and such appointment ahall be made by such court as an admitted
equity and a matter of absolute right to said mortgagee, and without reference to the adequacy or inad-
equacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the
defendants, and that such rents, profits, ineome, issues, and revenues shalt be applied by such receiver
according to the lien of this mortgage and the practice of such court. In the event of any default on the
part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on derr~and as a reason-
abie monthiy rental for the premises an arriount at teast equivalent to one-Lwelfth (;i~) of the aggregate
of the twe2ve monthly installments payable in the then current year plus the actual umaunt of the annual
~ taxes assessments, water rates, and inBUrance premiums for auch year not covered by the aforesaid
mont~ly payments.
~ 9. The mortgagor further covenants that should this mortgage and the note secured hereby not be ~
'j eligible for insurance under the National Housing Act within 30 dayg from the date hereof ,
; (written statement of any officer of the Federal Housing Administrat[on or Ruthorized agent of the
Federal Housing Commissioner dated sabsequent to the af ores8 id time from the date of this
mortgage, declining to insure said note and this mortgage, being deemed conclusive proof of such in-
! eligibility) ~ the mortgagee or the~ holder of the note may, at its option, declare all sums secured hereby ~
immediately due And payable.
10.~That ~(a) in the event of any l~reach of this mortgage or default on the part of the mortgagor, or
(U) in the event that any of said sums of money herein referred to be not promptIy and fuliy paid with-
out demand or notice, oi• (c) in the event that each and every the stipulations, agreements, conditions,
~ - ~ and covenants of said note and this mortgage~ are not duly, promptly, and fully performed; then in
either or any such event, the ~aid aggregate sum mentioned ir? said note then remaining unpaid, with ~
~ interest accrued to that time, and ail moneys secured hereby~ shall become due and payable forthwith, '
or thereafter, at the aption of said mortgagee, as fully and comptetely as if a11 of the said sums of money
' were orginally stipulated to be paid on such day, anything in said note or in this mortgage to the contrary
notwithstanding; and thereupon or thereafter, at the option of said mortgagee, without notice or demand,
i suit at law or in equity, may be prosecuted as if all monPys secured hereby had matured prior to its inati-
• tution. The mortgagee may foreclase thi~ mortgage, as to the amount so declared due and payabie, and
the said premises shall be sold to satisfy and pay the same together with costs, expenses, and allowances.
In case of partial foi•eclosure of this mortgage, the mortgaged premises shall be sold subject to the con• ~
tinuing lien of this mortgage for the amount of the debt not then due and unpaid. In such case the pra
visions of this paragraph may again be availed of tliereafter from time to time by the mortgagee. ~
11. That the mortgagor will give immediate notice by mail to the mortgagee of any conveyance,
~ transfer, or change of ownership of the premises.
12. That no waiver of any covenant herein or of the obligation secured hereby shall at any time
, thereafter be hetd to b~ a waiver of the terms hereof or of the note secured hereb .
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