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_ . etnd ineurance prciniume, a$ the ca$e may be euch Qxces~ ahall be credited by the mottgagee on subsequeni
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paymenta to be made by the mortgRgor, ~i~ however~ the m~nthly payments made by tha mortgagor
~ under (b) o~ paragraph 2 prece8ing shall not be euf~cient to pay 8~round r~nta, taxes and assessmenta
~nd ineurRnce premiuma as the case may be, when the asms ahall become due and payable, then the
mortgagor eh~ll pay to t,~e mortgagee any amount neceasary to make up the deftciency~ on or before the
date when payment of such ground rents, taxes, assesaments~ or ineurance premiwma ehall he due. If
~ at any time the rnortgagor shall t~ender to the mortgagee in accordancs with the provisiona of the note
aecured hereby~ full payment of the entire indebteciness represented ~.hereby, the mortgagee aliall, in com-
puting the amount of auch indebtedness~ credit to the account of the mortgagor ull paxmente made under
the provisions of (a) of paragraph 2 hereof which the mortgagee has not become obl~gated to pay to, the
~ • Federal Housing Commissioner and any balance remaining in the funda accumul~ated under the provisionb
of (b) of said paragra~h 2. If there shull be a default under any of the provisione o# this mortgage, re-
• aulting in a public sale of f.he premises covered hereby, or if the mortgagee acquires the property other-
' wise after default~ the mortgagee ahall apply, at the time of the commencement of ~uch proceedings or at ~
• the time the property is otherwise acquired. the balance then remaining in the #unds accumulated under
~(b) of paragraph 2 preced:ng a~ a credit against the amount of principal then remaining unpaid under
said note and shall properly adjust any paymenta which shall have bQen made under (a) of said paragraph. :
4. That he will pay all taxes, assesaments, water rates, and other governmental or municipal charges,
' ftnes, or impositions, for which provision has not been made hereinbef~re, and in default thereof the mort- _
. gagee may pay the same; and that he will promptly deliver the official receipta therefor to the mortgagee.
~ - 6. That he will permit, commit~ or suffer no waste, impairment, or deterioration of said property or •
. any part thereof ;~nd in the event of the failure of the mortgagor to,k~ep the buildings on said premises
~nd thuse to be erected on said premises, or improvements thereon, m good repair, the mortgagee may
" make such repairs as in its discretion it may deem neceasary for the proper preservation thereof, and the
full amount of each and every such payment ahall be immediately due and payable, und ahall be secured
by the lien of this mortgage, , ~ ~
6, That he will pay all and singular the costs, charges, and expenses, including reasonab2e lawyer'a
fees~ and costs of abstracts of titte~ incurred or paid at any time by the mortgagee beeause of the failure
~ on the part of the mortgagor promptly and fully to perform the agreementa and covenants of said prom-
. . isaory note and thia mortgAge, and said costs~ charges~ a~d expenses ahall be immediately due and pay- ~
. able and ehall be secured by the lien of this mortgage. -
~ 7. That he will keep the improvements now exiating or hereafter erec~ on the mortgaged property~ ;
inaured as may be required frnm time to time by the mortgagee against lose by fire and other hazarda,
- casualties, and contingencies in such amounta and for auch periods as may be required by mortgagee~
~~nd wilt pay promptly, when due, any premiums on such insurance for payment of which proyision has '
not been made hereinbefore. ~ All insurance shall be carried in companies approved by mortgagee and ;
~ :the policiea and renewals thereof ahall be held by mortgagee and have attached thereto loss payable ;
~ ~'clauaea in favor of and in form acceptable tca the mortgagee. In event of loss he will give immediate ~
~ noticd by~n~il tc~ mortgagee~ and mortgagee may make proof of loss if not made promptly by mortgagor~
~tnd esch insurance company concerned ia hereby authorized and directed to make payment for ~uch
loss clirectly to martgagee instead of to anortgagor and mortgagee jointly, and the insurance prceeeds, or
any part thereof~ may be applied by mortgagee at itss optian either to the reduction of the indebtedness
hereby Becured or to the restoration or repair of the p~operty da.maged. In event of foreclosure of this
mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtednesa .
aecured hereby, all right, title, and interest of the mortgagor in and to any ineurance policies then in force 3
i ahall pass to the purchaser or grantee. ;
S. That the mortgagee may, at any time pending a suit upon this mortgage~ apply to the court hav- i
ing jurisdiction thereof for the appointment of a receiver~ and euch court shall forthwith appoint a ;
= receiver of the premises covered hereby all and singular~ including all and aingular the income, profits,' ~
issues, and ~venues from whatever aource derived, each and every of which~ it being expressly under-
. stood, ie hereby mortgaged as if apecifically set forth and deacribed in the granting and habendum clauses
~ hereof, and auch receiver ahall have all the brnad and effective functions and powers in anywise
entrustesi by a court to a receiver, and auch appointment ahall be made by such court as an admitted
~ equity ar?d a matter af absolute right to said mortgagee, and without reference to the adequacy or inad-
~ equacy~ oi the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the
~ defendanta, and that auch rents~ profits~ income, i~sues~ and revenues ahall be applied by such receiver .
t ' according to the lien of this mortgsge and the practice of such court. In the event of any default on the ~
# ~ part of the mortgagor hereundert the mortgagor agrees to pay to the mortgagee on demand as a reason-
! able monthly rental for the premises an amount ~?t least equivalent,to one-twelfth (1;12) of the aggregate
; of the twelve monthly instaltments payable in the then current year plua the actuai amount of the annual
taxes asaesaments, water rates, and inaurance premiuma for such year not covered by the aforesaid
; ~ ~ mont~ilY PaYments. , -
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' 9. The mortgagor further covenants that should this mortgage and the note secured hereby no~ be
eligible for insurance under the Alational Housing Act within 30 days~ from the date her~of
~ (written statement af any of~cer of the Federal Housing Administration or authorized agent of the
i ~ Federa2 Hous~ng Commissioner.dated subsequent to the sForeg$id time from the date of this
- mortga~e, declining to insure said note and this mortgage, being deemed corr~lusive praof of such in-
~ eligibility), the martgagee or the holder of the note may~ at its option, declare all suma secured hereby
~ immediately due and payable.
10. That (a,) in the event of any breach of t~his mortgage or default on the part of the mortgagor, or
F~~ (b) in the event that any of said sums of money herein referred to be not promptly and fully paid with-
out demand or notice~ or (c) in the event ~hat each and every the stipulatione, agreements, conditiona~
; ~ and covenants of said note and thia mortgage, are not duly, promptly, and fully performed; theh in
either or any such event, the said aggregate sutta mentioned in aaid note then remaining unpaid, .with
interest accrued to that time, and all moneys secured hereby, shal~ t~ecome due nnd payable forthwith,
or thereafter~ at the option of said mortgagee, as fuUy and campletely as if all of the ~aid sums of money
: i ' were orginally stipulated to be paid on auch 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,
~ suit at law or in equity, may be pr~secuted as if all moneys secured hereby had matured prior to its insti- ~
i tution. The mortgagee may foreclose this mortgage, as to the amount so declared due and payable, and '
the said premises shall be sold to satisfy and pay the same together with coata, expenses, and allowances.
' ~ In case of partial foreclosure of this mortgage, the mortgaged premises ahall 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 pro-
visions of this paragraph may again be availed of tliereafter from time Lo Lime by the mortgagee.
11, That the mortgagor will give immediate notice by maii to the mortgagee of any conveyanc~e, ~
~ ~ tranafer, or change of ownership of the premises. ~
' 12. That no waiver of any covenant herein or of the obligation aecured hereby ehall at any timre
~ thereaiter be held to 1oe a waiver of the terms hereot or of the note secured hereby. Q, R 1
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