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HomeMy WebLinkAbout0939~opK ~ ~` arld inatl rarcc pri~lllitlr'r13, as t11e cue inlay ba,. $tt%h HiccBOA stLr2-11 I't~ ~r~-~ii7a~i by tht: il,(;rtgr~gee i>n a}ut~se~lut}t-t ;inyrttents tc, be n-Rda by the rnor-t.g+~ur. It, tlv~'+~i'(~r, t~ xit~uthl,~ p1~yrE~;<utTS r~lslde t}y the mz>rtgagot' lulc{er (b) of p$r~rap2lL prc•~l{rlg sh~li I,ot l,~ r~,~ il~ i recta±l 7r`~ita, t~~~ ,~•~d »arnE!lts aril illsrtranc;F ~Irerr;iuttla, as the er+ise rl~t~ b~, whea ih~ r>t~x=s ~ f~xt~ clam ar,r3 ~'t+<yats~ t?-cn the 17l[~rtyr~or shat pay t<! the u~ortg guy arr;aurlt ri~8y t~1 +;s up the des'ieier;ey, ors t1Y ~efur•e thy' tiAt~~ lvtten p$yr718nt o° s[.tc?l ~rc?tznrl r~~ts, ta.~r~, tom, t-r• itrr;trlc.~+ pY~niua~ ~h~tt t~ d.fz. If at arty tim® the st~+Jrtgagvr shall tsuci~r tt; tks rnar~l (n ~cr-da-tlr.~ ~{tlt tt=t iaa-E?visisn# of the note secured hereby, fill payz~lent of thz ex-tira il~ebt~dn~,x r-ep~t~ ill:at~y, ~e ruortgdg~~ shad. in ~un2 puling t?~e an~oant of stioh {ncie3?t~Eir., cry{ik tv the a.-cunt of t.h~ rzturt~~or ai! ~}a~rnenf.~ mane i!ilder the provisiorle of (a) of t3arA.~raph 2 hale~of ~•hieh the trort~~~ times ilo£ b~~r oblrgate'c! to pay to the 1''cxlerAl H.:ult;irtg Commissioner ssnd ~ t>al.~ince Yemainin {u lands ae:ciunultt4te•d undue t'~e pra.•iaions of (b) of aai~3 p~as•agratlh `L. If they shrill tape s defatl{t tamer wry cd Lire pl~cT•risiort.a of this raortgt:ge, r~•' salting irl a public >tslc of the prr*~z;ia~ covirTr•~l 1`ie>eby, of {f tllR ntartgagc~ rscgtair~a the property ot}1er- u•ise Aft;~r defau{t, the mor°tgs,~ee ntredll appt}•, a± et-a time of the c,,ar,rtnTencerltent of such prcx~Eedinga or at the time the pro ~erty is ati;erwrxe a~uire~ti, the brltlrurce then r~lcraining iv tide fun3a acra!rnulated under (b) c:f p€ra(~TAp~r 2 pr~c~iin ar- a crc~E3it. against ttte arnonnt o~ r{ilcipat th¢n t•t~dnaining Unpaid under said nrlte x~ld shall pt-o~~~:r!}• adjust any pnyrnenta which shall t!atia ~t~,l n>a$9 under (a; of aald paragrtlph. 4. That he re'{lt p,'r;y all tax;=a, assc~I~lentq, r`<•atfir rst~, ana other gov©rnrllental o: municipal charf;es, fines. Or im;x>aitionS, far which pravii>;ian IIAx not t_,ecn rtl€.de hsreinlrefare, snrl•-{tt clrfAUlt tiTereof thc• mort- SAS:'Z' Il1A}' ;,Ay file aar_le ; a;~d that tle wiL' p2-umptly deliver the ofllcil~l rtrepta therefor W the n:vret;rigee. E,. That hc: will permit, commit, ar suffer no ws.s?e, irr;izairtnent, or deterio:•ation of said prapert}• ar oily part ttlereaf ;and in the event of the fAilure of the rrlnrt~ttgTJr tct {«~p tt-ie iruildirlgs on r~iia prcrl;ise~ ar,d tiro ~• to tie erected an timid pr•enlig;:r-, or impravemcnta t ~-~~n, {n gwc-I repair,ttte mortgagee ma}~ make such rE'pati'E as In lta cli; cretion it may cir'znl neceaas.ry for thE' proper preservation ttlE~ret~f, and the full amount t,f each And every such pYyr*.lent shall tre inlrnc~-liatcl3' ;-i;;a and ;;aya>r~1F, and shall l>e sE~'ured by tht~ lien of ttii6 rlartgr~ge, t. Th..t he will pay ali Aricl sirgul4r t}le cc>sia, chrsrgra, and exlren,r~=. including r€:sa-onai,le fret'}'er`a fees, Arld casts of ab:~tracty of title, incurred or pi~id at any tlme b}' the mortgagee .'l'cAtl>3e Of felt' fai`:tlrc on the' part of tale mortgAKar promptly arld fully to perfUr;n t}it' agrrernenta And ca~'enar=.ts of said pranl- is-sort' note and this nlertgagc, and laid carts, charges, And expenses ah:sil ~ itnnlc(iiRtely due And ;>aj'- st,ie and shall tx: sc~-ured h~• the lien o1 thin nlortgrt~. ;'. 'I'ilat i;e K•iil kz~p the improvenlerl~ not'' existing or hereafter erected on the mortgage<I ftrc=pert} , inaurE~Ei as may i,e rcYlilireci from tide to time by the martgagE~ sgAirist lass ti j• fire Anil other hazar(is, caaublzies, and eonlirlgencies in such ~~mautltP and for such x:.tticscis a_9 nla}' t1e rc~uirc~cl b nu~rtgagEe, xrld will ;}ay ;,rc,mptiy, µ'hen due, Alit' pr(=iniunlF on ritlch insurancE for pteyrneut of w}iich praviaian }laa not bcti,i made tlereinlxfare. All inaura;lce shall t?e carried in corn'¢>snles apprE;v<<-t t,}• mortgagee and the ;?;~liciE-s and rene'•~nli` theret_~f r~tisll t>e held fly mortgagE~e Ar.ci 11R~e ettac};E-d kherrt~~ l:ae ;,a}'able clauses ill fa~•r>r r,f antl in fr,r:r. ar;ceptabie to the mortgagee. In Event of loss he «ill give irnrlcdiate n(,t{t£ ~~~; nifili i0 mJrt~af~eP, anti 17101 eti'agl'e R1Lt}' rr1r;)`;i tarcxrf of li_iBIS if r,Ot rllhcjC: prcimpily :11' martK.agnr, and teach insurance cornpar(y C('ilCern£:i, is tiereb}• r;uthorizE~cl And ciir'r_tc=d to make payrtient far suet: 1[_u3a directly- to mortgagee instEad of to mortgagor anG mortga~ee ;c;irltl}•, And the 1n3UrAI1Cr; nr~•cE'!':js, c,r- nny ((fart t,}lerc~uf, may he applied by. triortgagee at its option sit ler t~.t the rc-(,union of tt-ie irl(le',teclne3s hereC3t• SPCIFrf•C! or tc~ file restorPtiorl or re;.;air of the property danlagE~(i. In e~'ent of forEzclosure c,f ti:i5 Izlvrtglsge or other transfer of title to ttie morttCt+gett property in extiriguiahment of the indebttdne5a st_>curc~l hereby, all right, title, and ini+`rest of the mortgagor in And to any insurRnce p<,licies then in force shall pass to ttlE~ purchaser or grantee. H. That the nlortg~ig>•e relay, at an}' time p>`nding a suit ;!pon this rnortgagt_, Apply to t}It court ttai•- itlg ~urisclictian thereof for thc• Appointnl€~nt of a receiver, and such court s'tlail forth' ith Aptr,int a ~__-. r~~cei~z•r of the csr~•miaes covered hereby all and singular, including all and singular the inco:*le, proi±ts, rues, acid rEVenues from Whatever aaurce dcriv~, each and every of which, it tit~ing exprcaaly under- _ St(x,d, iR hereb}• moregag~-d Rs if s;~eifica;i `et for-tt F~Iirl cien<rit>{~d in the granting and ha*}:~nc;u,r claus<s hereof, and such recei~'tr shall ilAVe all the h-oad >lrr:d eftt~tive functions arld ro:~•era in anyFti'isF' ('nirustc~(1 b}• a court tci A recei'er, and such a;;,ointment snail tx~ made b}• such c(,urt A5 are Admitt=ail E.,tilty and a matter of absolute right to said mortgagee, and L~•itheut refcrerlce to the adequacy or lnad- t~4lUaC+" of thi• vAlile of the property mortgaged Ot t0 ttif' solvency Or inSCtlveilC}' of aFid mOrtgAQr,r rir the' iieI(':1(ti'tnt8, aril thcEt t1UCh et:tS, prufit.fi, IIICOii:e, I:?aU~B, i?Ild r`c.'enUeP ShRii J~ A;1p1lEYi ~i}' 9UCtl rPCt'lt'P'' at,cclyd;ng`p( to ttie 1iz•n of tills mortgage knd the prF,ctice of such court. In the event of an}~ dEfauit on til~• ;,art of ttir' rrl~,rtgng(;r tiere'lnder, the mortgagor agrE'e~ to pay to the TIIOrtjZAgC~ C,IS (li:mand a8 s r~~~:>rl- abit' rllanthl°: rclltal fE:r the prr~rni4es Arl A,-rlount at {e..~st equivalent t» nr.E.-twelfth (i:;~) of ti:e agg'regatE of the twel~:e manthiy inst<-tlirTients p;.j•Able in the then c~lrrPnt year plus the actual amount of the annua tllXefi 915f.._~Bln~lit8, :~Htt'r' CatC'$ And ?riJrLr$ilCC prerniunl8 f(SY @UCH }'eRr riot CC)ver('fl Ilj' iliF afOrtaaid ment~il}' ppyntents.. • rl ~h11C' InUCtgtlgt,r fUrtilt'r CU';Pf;alit<5 that S110U1C1 C}li~ rnUT'i fi~ryt_' an(j the' r'i:.;tt• $tCtlt"E!d f1 C,r!•fl:' n(,t iT<• ::;:',1C' Icfr 1nSU2'Aiit_t' tili:lo-•f' till' :~P.t3r)11Y,1 IIOU51njz r:Ct l4'ittiiil ~~ lJ~{\'~J frUln tlis~ Gait-' :it•rtt,1 ".1'rit et'll 5tFa tt'ment t)f al,y (1 S~1Cer Of th(' ~'CKl i'I'i31 1I0U81iig el ll nil; til3tt'At101'+. Ur :LUtittll'1Zit(j 21 t~E'rit l,f tit(• (~e^'"I-a.! 11 C:U5ing t'•rtnl n11351[_sn(~T' dot E'!~ nil ilaf.'+~1!('flt tCl the ~!} Oi., (~ tune frceni the dittF Of tlii< J' 11~!'tgrlL{±', (it{•!illlrl}q" tC, VliSUrE• ~F:I(I !i()t± and tt119 nl!tr't~"?.~2'P, ~,£'tnf.T t{f•E'nif•;i car.riusis•e ;,roof of AtlCti :11 i.}{iijil't'.'). :tie IllOrtf{is}{t`t' let. the' nUl(if•r- Of the n(a' nla}'. P.t 1tR (ipti~._irt, CItN'IEIYt' all Si.Im° Sf'C'Ur't(i 1 I-- - .::".1!Ilt'C11Atr'll' tilts i11id ;!Ay'::iilE'. 111 That ICi) ill Lhe ('~ei:t (?f atl~' i:rE'flCtl :ef thifi mc7rtgt;ge CiI" :lefaUit Jn tt}e ;3ilT~, Of ttl>_' rnC32•t}~3}~(tl'. ~t' '• i li; '.n(° t'~'!'ni tir~?C &Ily Ur ccild SUri14 (1f ril`JnEy 1:ttrf•ir? refer_cd t0 i~r r1c,l pt'Orn;ttly AnC{ inlly pAid ~t'lti: ,. 11et11ai!(i ~>i' ilOtiCe, UI' (^) in the event tll$t E'8Ct2 Atl e'er}' ttlC• 9t1pUlAtleJ11L, a!(rE•emPnGS, COIi(litlc)n::, ..~.:', t::i~t•liiclrt~ of siiiC! rs'lt~• anrt this rr2!Jrt~;agc, a.re not duly, pri~rrlptfy, Atict fully frerfc:ri72ed; t}len lr, . `i;t'r (ir 11:11 3riCi/ E~`eiit, ti!e 9ald agKregatc° sUrri iilintiorlecl_ !n SAltl nC[;O t}len re,=n1?:lIling Ui,jtlAld, ltlti: r:trrc•st a(•ertiE~d to that finis, and all moneys securc•El Hereby, BttRt; t~-Earr[e clue and ,~}•abte fcr-thk-ill,, ,~ '.ilert•aftr2. at the (;;pion of sAiri nlartgxg~, xs fully and conlplEtely as if all of tttc~ ~sid starrTS of nicni('y • "l •• t?1 v inR!;}' Stl;;UlAted t0 +1t p=tld ()Il QUCH (13}', ally tlling in ~.51i~ nUte ar' lI~ ehtA ITlortg~gt? t0 tt;+r contrar}• x:`,. r,'a•.+•iti~~tal.dilig•; artd thereupon or tht.~reaftor, at th=: optiarr of ~,id rnort~,geQ, wit}lcttt alatice or del?land, 't2;? at la~ti~ or ir: C~uity, n~.~}' t,c ;;ra~cu%ad as if ail n;aaleys ~;~urE'd hereby had Riatureci x,riar to its itlAti- +.' 1~,1: 'I-i;r> rnrrrtgage-i r71A}• fnr~e:laa~ thi8 mortgaagE, Ins t~l thr' arzount a~ E~t*clared c{ue >~nct i~yahle; anti ~.!:t gold prFr,;ist•s :;hail tP sold in satisfy er,(i ;lay the BiErnQ tog'°ther with%ast~, erpE:rtso~, ana alloc~,•ance3. !t; ;H~t• t,f parti..i farr<c{vaurE• of thin mortgage, the mcart~;E~ed ;;rerriaea shall frm Bald subject tr, the can- •_:r;t111if,° lien of this 17:ortt{AgE• for ti, t' anloUtlt of fire (1@i7t r1Gt tt~i£Il role and unpAici. In inch cy>,g t#le pra- _ ,~~~i;i5 of this ;~~ ~-ragrzpt: 1118 j' A}(a'.Ii tK €4VAiIr!d of ttlerc:~f#1~r frurll tune try iirrap `try the rnart~raf#=~e. 1 i "I'ihai flit` nlot~tgag=;i' ~~: ill give imnie:liacr no#iae b}• n7ait trl thr rrtor4gag~-r of ally con~:c~ygri~:t•. 't~rt=~s~t'r, ter chaagc of owrlergtlip of the prert;ine$. lc.'- ~-lat n`1 Vr't?l4'E'r of arty' C04'r'ii%lrit herf3tl Or if ttlE F3bll~iEtl4rl $r~Ur£~ IlErel")Y .~.iiRlf At arl}' tlrC'tC' '.ttl•r(•after l,e held tv ix• a s~.<El•;er of zh=v teit718 hereof cx o~ t.lit; r..rt,~ sec.-`:~csi tlemby.