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~nd i.n~urance premium~, aa the case may be ~uch wcceas ahall be credited by the mort~r~ee on pubsequeut;
p~?men~x to be ~ada by the mortgagor. ~f, however~ the monthly payments m~c~e by the mortRagor, +
under (ba at ~aragraph 2 pr~ceding ahaU not be au83cient to pay ground rent~s, taxes and asse.~ssmenta ~
~ . ~a ~ur~~-~i~ as the case mey be, when the ~sme at~all become due and payable, then ~he ~
mortgagor sh~ll pay to mortgage~s any am~unt necessary to mako up the deficiency, on or before the !
date when p$yment oi euch ground renta~ taxes, ussessments, or ineuranca prerniume ahall be due. If (
at a.ny time t,he mortgagor shall tender to the mortpcagee in accordanc~ with the proviaiona o~ the note ~
aecured hereby. full payment og the entire indebtedness repreaented thereby, the mortgagee ahall, in com• j
~ puting the amount of $uch indebtednees, credit to the account of the mortgagor all pa~?ments made under ;
tlze provieions of (a) of paragraph 2 hereof which the mortgagea has not become obligated to pay to the
j;, ~`eder~l Housing Commiseioner and any balance remaining in the funds accumulated under the provisiona ~
- of (b) of said paragraph 2. Tf there shsill be a default under any of the provisions of this mortgage~ re- ~
, eu[ting in a pubtic sale of the premises covereci hereby, or if the mortgagee acquires the property other- 1
wise after default, the mortga~es ahall apply, at the time of the commencement of such proceedings or at
~ - the ti.me the pmperty ia otherwise acquired, the ~alance then remaining in the funds accumulated under
~ (b) of paragraph 2 preceding a$ a credit again$t the amount of principal then remaining unpaid under
eaid noEe and ah$11 properly ad,juat any paymenta which shall have been made under (aj of eaid paragraph. ,
j. 4. That he will pay all ta~ces, assessnaents, water rates, and other governmental or municipal charges, ~
i flnes, or impositions, for which provision has not been made hereinb~fore, and in default thereof the mort- #
I g?ages may pay the 8ame; and that he will promptly ~eliver the official receipta therefor to the t,r.ortgagee., ~
6. That he x?ill permit, commit, or suffer no wast~, impairment, or deterioration of said~ 1~roperty, ~r : ~
sny part there~of; and in the event of the failure of the mortgagor ~to keep the buildings ~n'aaid~p~emis~s
sad those to be erected on said premises, or improvements thereon, in good repair, the~zfwrtgagee may'. ~s ?
~ make such repairs as in its discretion it may deem necessary for the proper preservatior, ;tliereof,. and fhe ~
tull amount of each and every such payment shall be inunediately due ~nd payable, and atiall be aecured ~
' t by the Iien of this mortgage,
. , ~ _ ~ ~ ~
. 6. That he will pay all and singular the casta; aharges~ and expenses, including reasonable lawy~r's
~ _ fees. and costa of abstracts of title, incurred or paid at any time by the mortgage~ b~ecause of the failure
, on the part of the mortgagor prnmptly and fully to perform the agreements and covenants of ssid prom-
~ i8sory note and thia mortgage, and s~id costs, charges, and expensea ahall be immediately due and pay-
able and ahali be secured by the lien of this mortgag+e. ~
. That he will keep the impravements now existing or hereafter erected on the mortgaged property,
' insured aa•may be required from ti?ne to time by the mortgagee againsZ loss by fire and other hazards~
casusltiea, and contingencies in such amounte and for saeh periods as may be required by mortgagee,
~nd will pay prnmptly, when due, any premiums on such insurance for payment of which pmvision has ~
,;~not been,~nade hereinbefore. All in~urance shall be carried in eompanies approved by mortgagee and
~ ~.•''the polici~s;'and renewals thereof ahall be held by mortgagee and have attached thereto loas payab~e
~ ~lauisea ~n 7~~ror of and in form acceptabte to the mortgagee. In event of loss he will give immediate
~ : v notice~ by•a~iail to mortgagee~ and mortgagee may make praof of loss if not made promptly by mortgagor~
f snd~ eaeh inaurance company concartted ia hereby authorized and directed to make payment for such .
. lbea direc'tly to nortgagee in~tead of to mortgagor and mortgagee jointly, and the insurance proceeds~ or -
any part thereof~ may be applied by mortgagee at its option either to the reduction of the indebt~dness
~ hereby~aecured or ta the restoration or repair of the prop+erty darnaged. In event of foreclosure .of this ~
~ mort"gage or other transfer of title to the mortgagecl property in extinguishment of the indebtednesa '
secnred hereL~y~ all right, title, and interest of the mortgagor in and Lo any in~urance policies then in force i
~ ahall pass to the purchaser or grantee. -
; 8. That the mortgagee may, at any time pending a suit upon this mortgage, ~pply to the caurt hav-
~ ing jurisdiction thereof for the appointnnent of a receiver, and such court shall forthv~ith appoint a
_ receiver of the premisea covered hereby all and eingular, including all and singular the income, profi
? . iasue,s, and revenue~ from whatever source derived, each and every of which, it being expressly under=
' atood, ia hereby mortgaged aa if apecifically set forth and deacribed in the granting and habendum clausea
~ hereof and such receiver shall have all the broa d aud effec~ive functions and powera in anywise
entrus~ed by a courE to a receiver~ and such appointment shall be made by auch eourt as an admitted
. equity snd a matter of absolute right to said mortgagee, and without reference to the sdequacy or inad-
~ ~quacy of the value of the property mortgaged or to the solvency or in~olvency of said mortgagor or the
defendants, and that such rents, pmfits, income, issues, and revenues ahalI be applied by such receiver
~ t ac,cording to the lien of thia mortgage and the practice of auch court. In the event of any default on the ~
. part of the mortgagor hereundert the mcrtgagor agrees to pay to the mortgagee on demand as a reason- '
~ Rble monthly rental for the premises an amount at least equivalent to one-twelfth (3iz) of the aggregate
€ { of the twelve monthly installmeata payable in the then current year plus the actual amount of the annual
t.; t~ucea assessmenta, water rates, and ineurance premiums for such year not covered by the aforesaid
r , i mont~iT -
; Y Pa3~enta.
= 9. The mortgagor further covenant~s that shoul~l thi$ mortgage ar~d the note secured hereby not be
R eligible for insurance under the Nationat Housing Act within 30 days frc?m the date hereof
~ ~ (written statem~nt af any officer of the Federal Housing Adminiatration or authorized agent of the
= Federal Housing Commissioner dated subsequet~t to the ~foresa id time frnm the date of thia
f mortgage, declining to insure said note and. this mortg~ge, being deemed conclusive proof of such in-
~j elig?ibility). the mortgagee ar the holder• of the note may, at its option, declare ali sums secured hereby
~ ~ immediately due and payable.
{ ~ • 10. That (a) in the event of any breach of tliis mortgage or defauit on the part of the mortgagor, or
(b) in the event that any of said sums of money herein referrecl to be not prort~ptly and fully paid with-
i,~ out demand or notice, or (c) in the event that e~ch and every the $tipulations, agreements, conditions,
; { aad covenante of said note and this mortgage, are not duly~ promptly, and fully performed, ~then in
; either qr an~? such event, the said aggregate sum mentioned'in said note then remaining unpaid, with
x interest accrued to that time, and ali moneys secured hereby, shall become due and payable forthwith,
` ar thereafter, at the option of said mortgagee, a$ fully and completely as if all of the said sums of money
: wer~ orginally stipulated to be paid an $uch day, anything in said note or in this mortgage to the contrary "
t ~ notwithstanding; and thereupon or fhereafter, at the option of said moi tgagee, ~vithout notice or demand,
auit nt law or in equity, may be prosecuted as if ail moneys secured hereby had matured prior to its insti-
~ tution. Tlie mortgag~ee m~y foreclase this mortgage, as to the amount ~a decl$red due and payable, and
_ ' the $aid premises ahall be sold to satiafy and pay the same together with costs, expense$~ and ailowances. •
3 ~ In case oi partial foreclosure of this mortgage, the mortgaged premises ahall be sald subject to the con-
; tinuing lien of this mortgag~ for tlie amount of the debt nat then due and unpaid. In such case t~e pra
` j vieiona of this paragraph may again be avaited of thereafter frnm time to time by the mortgag~e.
` Il. That the mortgagror will give immediate notice by mail to the mortgagee of any conveyance~ ~
` ~ transfer~ or chang~e of ownerahip of the premises.
~ ~ ' 12. Thst no waiver of any covenant herein or of the obligation secure~ hereby ahall at any tim,e
' ' thereatter be held to be a waiver of tt}e terma hereof or of the note secured hereby~, e~ ~
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