HomeMy WebLinkAbout1936
und~r ib) d l-\&T~U(..!1 2 pren'<1H\f ahiiLll not bill wmdtm~ io P*-Y~To\lnd u.'n\.o, \.~AC';!! JUKi ar IMlr.-f..i
and in.!!urllilc{l j,rt>il\iUnilJ, M th" ~.Ak! tn&.}. b~!, Wh<"ti tho) NJll~ Mulfl t~t dU4l ..nl! paytbM ~ ti"t"
1liL>lij(~or tlh.r.l ~y t.o lh~ m()rtf(a~ An)' amount nK~Y W ua.k6 up the det-:'-nq!. i)t'l or ~lo." t:h.;
dat.e when I-lAyrnc'nt (If INch !l1"1.>und r~nu, \.Al(f!'@, ~t..a. Of i:U...r.~\{'~ pn!imi~ aha!! ~ doe, If
I\t a;'))' tlmt! th@ roortl....or &h&ll ~n4er to t.h. m\l~ il:' tl(:CQ\"\~ ..tt.h u.. pt'Oy'.lola .}( tJ'!Ie ~
8f.'<Ur~ ht'f'",by, (1111 ~\A)'n~l of tb,., _{.iN' ind~~,ind:l re~t;ed tlMtneby, t.hot rDc~ Iflha.li, in car;zt..
puting tnt' llmnunt (,t ,o<h :ndebt.edn..., eft'dit (,t:' tn.. ~lUClt ct tht! Q!O~ &1\ ~ettb rr,~ l.l~
l~e prfJ\i!l:(}I1~ of ~.:5) of. 1-~l"ll4Jr.ph 2 htrrf!')f ...hkh the mv~ t\M 1Wt, ~ obhpted it;; ~'6.,)' \Ai UN
~ ~raJ Howl1l\i C<.."nmtMWI}tlf Ahd Ul.Y baJAnee remAmHl' II.. t.h. f;mJa ~('lm1\J..l.at.ed under the pr'l,na;t;){l,)
of (b) of aakl ~....raph 2. If tht:H1 tAall boil Ii. ddmH und.f:r an}' o! thf, p.i"O\'Woc.t. of th.. m~)~, r..
alJltinj in Q public u.k of the pr~.i.. \.'()v'uoa h_rob)', or it tM ~r'''''''''' .ICq'liine thi' ;lro~rt}' oth<<'.
Wi.!lle ..tt~r dd6ult, th* rllO~ ah&ll apply, ..t th" time of ~ ~n<."'e'n)~,t of lu<ch prt>cf".I.>dinp or At
tht' tim~ the projX'rty i8 ~HW;.&f.! Il(....~ui!,~. \.~e h&j~1(,€ t..~n remaiAi.DJ in lh~ !'undA a.c::;Jl'tiulj.~l und~r
(b) of ~r$..iTavh :l lm,"(~lnll u a (r~ilt ....lIhtt the AmQUn~ of priiKlpill u.m rt'flllllnlnl' unp'tld <mdi\r
"ill nOUlllUlt! J.hall pm~~rl)' adJlat a.ny paynHm~ .hich ..h.,1\ ~\'~ ~n m_ uu<kr (Q) of aAid paraarAph.
4. That h{\ will p.~}' &11 ta,xe#, ~if'nt.8. "'aUT ~i &r.d ott,er' IfO'iernmN'.lt.\ .)T muni"lr.al c'h..ri'",
finE-A, or impoaiHon.e, for which pro"i~/)n hM not bt>t<n made ht!Nrirz~forio, and in ~t.tltt th~N!Ot t..h~ mort~
gagt't! iliA.}' pay L~e ~n'J; Ilnd th.&l he wi\ll'u'(,mpt~y d~li...er th(; .~i.l ~~ipt3 the,..(\'f~r to \he rr.or~<
..
f), ThAt h~ will permit, (:;,;mmit, Of liufhr no wutt', im....lff'llent, or dmrioration (If Mid pr('tW't1.y l)f
any part. theT\'lO!; I\nd iii the "vent ..If. tht> fai!u!"e (If thtl n1Qri<<t.lDf It), Ktf'p the biJi~din.... on ~a.d prem~
ICld thCl;ijit to be en,'dl-d on laId pr",m~, or !mpfO"l!'mt'ots thef'1:t..'ln. in (fI)',;-d fepl\ir, th4.!! mort.a~ m...)'
make such rn>Aln &1\ in its dts-:tetion it may dewrl fl~<<lNary ftfr tho J.tNpItt' ?i'efM'tvation UH.,f't1Of, ..ttd ti'.t
i\~1I p.Jnour.t of eaeh &1;0 every guch p3)'tI\l'nt ",!)$.i.l b~ irnme.diAt(~ly dut.' ..uti pAyt.hle. and llhaJl be ~u~.!
bj' tho lien ot tlns mortgJi.l~~
. .
g, That lw will PAY all a.nd ~ingu\.&r ti~ C<)I!>Ul, dl.~, Ilnd i!xpenM8, inrludinf r~~ lawYf't'.
f('('A. &.Ild coaU of llDatud.t or titlt" Inc\JTr06 \>1' paid at MY tim~ b.v th.. l'th..rt<<~ b<<!luae of the l.ilut'C
~n thc put.. {)f th~ mortga.glJl' promi;tly AndfuUy tQ Vt"rl,'nn th(\ J.g~nH~r:lA lU~lt t'J\'~n.nu ~f wd prt::>!n~
IMMY nol~ ~fid tiua mt)rti:al'~l IIpd Mold COIl.t6, t"h~, a.nd uper~ ahAlI 00 Immt>d.attly dl.l~ and poy.
-.bIB &nd IlhsH be ~urOO by th<~ iit'fI (It thi.- mQrt.., -
'7, ThAt hi; wi!! ke'ep th{! ImprovE-m'!."nt.\ now f'xiatinl' Ol' h~l'll!4ftet ~~t.oo on the rn~.....-ed P~.
iftJ~ur~ u m~y ~ n'qUlft'{i from time to time by th~ mort.&~ s.rain4t }.og by fh~ and other hu~
c.&l!ualtiNl, And c.ontin.geneins in !lH'h &mounta and tot &ueh p.e'rloda &a mAY t:~ N'QuirM by ml_'r"~.
and will pay vrnmp~y.. when due, ~ny prt'...':n!um. on auch ~rJ,.aurwce for f>>&)'nH:'"''tt (if whkh prt.:vitlion hM
not ~~n Ill.d. hei('lr\Ddl)f,~, All m~\Jrance !\hal! ~ carn""l In Ci.'>mpanI8 $ppruv~ by mortl'~ and
the T)\jlid~'1I ftl'id UllcwAJll Ui'!T;;d .hall b~ hl'}Q by mort.~ And haH~ att~hf'd thf'reW k_ P.yahiE
dAlUM in r","or ,A and in !Qnn a('ffpt.ble to th~ mortg..~. In e\""nt of !(l>U 11.. wilt ri\~ immMiau
notj~~ Lv mAil to nK~f'~.Jlge"l', lUHl mortl~ may nHllt proof of loq If ltf..'}! made pt'(lmptly by mortPCOt',
and (><v.~, in.lUtiUlC~ ('.umpalij' i~Qne:erne.d l~ hereby authori;:<l'll llnd dir?'<'lE>(! to maiH' pA)'m4!'nt fo!" '\lCh
lc~a diredly t;:.. mortg~ inste~d of to mortgllgm: ~nd mortlaK~ jointl,., and thl' in*lJranee PfT~, {Ii
any part therwf, may be applied i.y nJo.-tgllioo at ita uption 'Hther k> the ~ucH!.'m of Ow if;d~btedn~
ht'r(~b... ~urcd or to thf' j"Vjl(lr~tinn or r.-pAir ;)f the propi'fty danlA3','d. In ~H'nt of (o~k>8Utt' 01 thi&
n1o{t€t.Ee or OUH~t tr.na!~r of Uti\} w the moritfAi{'>(! pf(jpt','t.y in ~xtiniui.hmf!i1t :'If the IndebtM~
Wt:uH'(ib-arooy. ~ll ri.ht. litW. lino ln~r~t (It th~ mor1g&ICvr in aud to an)' in.l!urante policifil then in {o<<:'f:'
lhall pU3 to the purchliHl' or ir~nt{~,
8, That t.he ro{.M&'A&~ m~r, at any Um(j {W'ndiHS; ~ suit Up<'H th~ :nortgl\g.!, apply to th~ C(~rt ~v.
inK juri.i.rlktion ther~.}f for the &f1PQinlm~l1t of t\ fE'CeIVt'f, and AUen rouri ilha\l (o~.dth appoint lO
tfX~i\'u of the prl'miB-f::& ('over~1 h~n'hy All and ainiulllf. Including !ill and IllnrulAt' t.h~ U'i<='~. ~.
IMUOO, .and ~\'tnu~ fr-om wh.t.t~\'€'f 8Q!jr~ d~ri;;ed, ~h and f!Vf:'r'i of which, it b\~in.r e~pN!iUl.)' under-
&h).()(j, iA he-rl'hy mort~i M If ~pN~ltk~ly ~ forth and oMC,ibf,d in the vantil'll u4 h~um cl.~
here-of, and lluch rl!'C~lver ~hR.1l h....:e Ai! th.e broad ,.0.1 €rffe('H\'@ bmdiOM 8.t\<! pl1'lun in t.1tyw*,"
..nt ru..4t~.".j by II t(.\,lrt t,.-.. 3 r<<:t:i n;f, and IUleh aw,int ~t ~h.~1l 00 mi.cll.\!:l)' SiKh court tit .n A.dmltt.oo
equity and 1\ mAttu or a!~)lut~ right to i\Ald mQrt~~, and without tdHt'nc~ td t!ll\! &UilQua.c:.' or ina;:d.
{'quaey of tiw VAlu.. or the proiW:fty murt~liged or tQ the IiKtlv('llCY Of In,,}I\~n(;>' t1! Mid mortK~$Ur or th~
d...tfmdanUt. $nd thAt auch ft'nb, IH'ot1~, 1!1(,C4'lH" wuea, !and r~V;JnUM i!nJiH b..;' appl~ by such r<<€h,er
acrordin, to t.h~ Hen of lhilO rno,tgB.ie awl tht; practke of l'iyo::r. tour1.. In thX" f!\'!1it r;f any {~f,,~lt on th",
p.art of th(J mortgAltor hni!undtfr; the mortPZ"r qr~ to t>>ly tt; !..he mr..H'~ m'l Mrn&rl(l U a reMOJl.
Able monthh' rmt&i for the prf,mlan an 6.mouot lit leASt ~ui\'ak'-nt to (tM-t~eltth (~h} of th~ ~w
of the twelve monthly lIu;t:!ilrnentii pAyable in the t.h(:l) CUfTt'nt YUT pllU the sctl.llll Amfmnt {If tht; .rH'lWl-l
t.",X!'110 MM~llif'nts, wlitJ:>r fatt'il, And iMurAnc~ premiunu fer IUU~ y~.ar nal cO"l'ereJ by L">e afqr~d
mon th.I,' f.o&)'ll1 ,;on is,
. . 9. T:"H!fnort~lif!Oi' I\lrthH CO,v€l,lilnta that ,~}w:J!.d thi~ 11,'oril~-r; t!:~, the note &<<qri7-i h~~e-br not ~
el!gl.h!e fOT, HUUrlmCe uncia th.~ t-Hll1f.>?.\l.1 H,(t~lilin, Ad ~ilthm ,ay Vt\l ~ !p)m l~1e tjtt':O h~rd
(wntten lr;l.Jilt.,rnent of tWY OffiCH of t.hff r ~nu H~mg Aumtn.l.tralwH or ti\jt.iv.)n;!.~ >'ut of ~
f<cJ~l'a] HoW.inf( C.(..rnl'r~i~lOnt!1' :aW I!u~tu~nt to tht' :;0, OA~. . ti,rti"-: 11"Ot1'i th~ a.tf, \}f ~
mortgage. dedtning tn H1.'Uf'l! !lJ.i\d ry:,tt; And lru.a m;)rtg~K'!;, ~ln. ~\t:d (cljrlfH.lliVe pn:.of of Jucli tn-
eHgibilhy), the rrH.'ll'tglt.g~ or th~ holder of tM fl(Jte m...y, at ita option, lktb.re .u l~ ~\H~ ~y
imrntJ>(U.t~ty dLO-e and p3ywj~. -
W Th~t ((i) In tht'J ~vent of $..ny bff..&dl r,f tt:1.3 f1'h)ri.tr~ or .,...f&ult O'n t.h~ ~,....rt at ~~," ~o~) m'
(b) in th~ t'''~':lt thAt lifiY of uld 3Uff~ d ffiQflt'i}' h~!Ni\rl ,~f",T~:i t.(. b~ hf~ pmmpt!r a1'!<i fu~!y pal#'llttth~
out detn""nd or n'L>t~(i(., or (d hI, th~ o!!v~t tll.*-t. ~ and I$'lff1ry !)w gii})uU\b~, .-r~~t4. .
Md {-"')'i(ft'i41il~ of ~id ;wtt! a.n.:i thit l!HJ'rlp,p, iN nil't dUlji, N'f.)ffi~L aJ'A t'.;;Uy ~~ ~
@ith~f or an; ~ij;::h ~vj;nt, th~ u.fd ~.t~ ~ m~U~ in .<<3 ;t.:~ th~ Ntm<<.wq,~"
tfl~r~t ~-:-.cru{'J'j t~) thtit Urr.{', ~r.d iL m{J.n~~ ~~, ~~y, *.~H ~.i.;lffl~ a.y>!, And ~ f~
Of' t.~~Na\fWr, ill, thi': uDtu,n of ;<.il'od m!,Tilr~J. u f'uli',' ~n!J c(';"tq;-"~1e~v ~'ii If f!.Jj fJ1 n,,'i' ~~,<:l ~um$ ,:}:f m~
WeN,?(.j~m~!'IY sf,iPuk\~~ tooo ~;d?!'l ~\;d\d~:r. "1trt.hH"~ in ~.ir.,~ ;'i(~"': 0; :r< t."Ii~ rr;i,}rt~ t:~ tM ~~
rtOtwn}..;,towdw.g: iH\~ ~MT$...p,-;n {it dL~Y~Aftpr, ilt tn<" rrpttN. "if !\atrl m~i~, ?i.~ !\ont\~ t)'t'~~,
,",it 8\t b,w or in l1'.o1uity. rn~y ~ pr~"\(,,itt~ 1M if &.it ffl(.~~1" ~1d~ ~~ ~ m"'tu~ pnOf' wiU ~
tutioo, ''fl.;,] hwr. tJ3.~' tl"'~r f{lr'OCj-,~ ~M~ 'IT';<:'trt M h.', thf, ~. 'i'!\-(M'!'lt.. It<) ~~. ""~' ~ P:f::.' . ~
th~ wd pi'em~ ~h$l! h!\\ ~Itj U; w'.lrty ~ p;ll:t ., ~~ ~r wit;i1 ~.lfl,1f:~ ~ '. '. .. .
In <',~ 01 ~~rthil (o~l~lJ~ ,}f u~~ r1:1o'rtpqtf, ~ ~~ ~ ~~ ~ ~d mlbj<<li. -......
Unuinl! U~n d t~t& mOlq~ fOf t..~ am{lUllt '\.<f ~ dI/!'bt ~ ~ ., "","14 ~"'w. la ~ ~... ,...
mion.. i)f tbi! par~raph ma.y ~n be AV8l,H~ -Mtls......~ ~ ~ w ~ br ~ ~,
H. 'Tn.l!.. th~ ro:'jf'~ wiH .i?~ li..~~~ !,!<~j<~ ~ ~U to) ~ ~~ ~ ~f ~~w..
tl'Jl.M(u. Vf" {lllU"~ o! c....'lwl1thip {Jt thll ~'f~~ '
12. Thit no w~i':u n1 ~?iY f~"'~i~flt h~n (;lr :;;f t!\@ (~ipt~~~ ~.. .. fit:UJ ~
thoJl'fJZ.rle.r 00 h~ to r~ ~ W~!V~ of th~ ~,h.."r~f J;;;l' (.1 ~ ~ ~~,~,
I