HomeMy WebLinkAbout2272
(}
t:. k'
~l ,
5B r'bf 170
.}
I
ah.! !n&lirA.LH'" !H"imllumA" U the C~ ma.)' bt\, W-.h,Itl_~~"4H \Po> tltl,lite.l hy the rnortgll6\"C Ill) illIb,"":lueut
P"LymentJt It) l-e mAdf? by th... ;l"tDrtiTat.......r. it. Ml'fe'VU. ~. roJiit;t,\)' \>AY;ll(!fliA mAJt' (J)' the mi:J.t.jl......,
un1ttr (b) of p.uaarapn 2 pr~i~ sh.tJl oot b. I\lft\denl i.Q P&y JTOUnd rl!'1lt.., l.u~ And A.U~Illt'Jll&
a.nd i~ur/lnc~ pretnlmna AS tM t'~ mAY bf, whft\ the Mmt" aha.ll t~~ dut'! and l'Ayabll', then the
mortgqor llh~!: pay ~) the mortj[~ any lIJl1ounll\t'CHUry t.o mA-ke up the delXlt'nq:, on or before lht>
dAt-t! when paymenl ot IUch IrfWnd rtmU, t&2:M, ~'1'lt"tlt... Qr IIaUTAn('(' prt'tlllUnU ~hali he dUe. If
at MY time the mon..c-a.or thaJl ~ncWr to till! nl<)r1il~ in ~rord&llu' VI ith the pUJ\'l.ioM of tht' note
lW!Cured hereby, full p..)'~nt ot thfl enU~ i~~nMO ~p~nt.f'd lhu~y, till' mi)rtlait~ ahAI!. In com-
putina the ilffiount of loch indf!btednfilN, cf\.'ldit to UtI.' ~c()unt d the rnoM..s~r a.ll pa)'il\t'nt.' 1Il11.1{' UlHll'r
the pruvialoli~ of (Q) (,( pou...,..~'Ih 2 MrE<Of whkh the mort.<<.~ haa nol b<<ooH~ 001l.5t,'<I to pay to tht'
F~lera1 Houai.naCommi..Mioncr i.nd any ba1ante re:mainin, in the (uncia ACcumul2.t~t unda thc pro\ l~lIJlI'"
of (b) ot ....id par~r.ph 2, If lher't! ahaH be A dd&ult uudu any cr lh~ t1roviliona of thlll ll1ortllllRl" l\,-
au!tu1& In Ii publk "1~ of the pNJmill6lll ('OVHOO h.-NIb)'. or if the morli&&"t"e lk"'qulr,"O the ~)r\)p\-rty othi.'r-
wL.e after default, t.ht m(Jrt&~ .h.lI apply, at the time of Ule ((..'mmen~ment of /luch prOCf't'(llng!l or at
L~~ timt' th~ pro~rty it Oth~fw~ acquired, ~e b.alan~ th. en ~mAini~ in th(' lunda aC(l~ll\ulatf,1 ullda
(b) of par&4{uph 2 pr<<ed.n( u a cf"('(i1l acralnat thE- a.mount of [JrinClpal then rl'rnalnlng Ilnpald und..'r
Mid oo~ a.nd l\MJl pru~r1y IldjlJ.lft a.ny ~)4yml'nu which _hall hA\'e been mAd~ under (a) of ~l!lid J.ar~:rllph.
4, That he will pAy ail tAxN. a.ueumt'ntA, "a~r rates, and other govtrnment!tl or nlUliIClpa.! di/l.rlil'3,
n.nM. or impoaitiona. for which provaion has not ~u made her~inl-'jf'ror~, and In d~fallll thHf'<..( th.' mort.
i'~~ m...y l-~ lhi.' UTne; find t.lat he will ph"tmptly d~livt'r the offidAI re<:~ip13 therefor to the n:OI tK"g~"t...
6. That hi! will Iwrmit. commit, or &uffer no wutt', lmp-Aimwnl, or deterlMAtion o( 81ihl property or
A..!I~ part thereof; and in th~ ~\'tnf. of. thl! fal!ll~ of the mort<<...-or to.k~p the t.JUildil1t& on alllo prcnl!JwlI
lU1{} L~~ to 00 ef'~ttoQ on uld prem~, or impro\'ementa tnt'ft'Oi1, In I"'<.wx! ~palr, the l\1ortl{~g('{' may
mAke I!u,~h "1*i~ ag in itll diB<rrlion it ~y ~m n~ry for th~ proper prnel'vatwn then,.!, and tb,>
full Amount of eACh and evr;ry .u.c:h paymffit IhAll be imrntldiat.tJy due .nd ~)'Abl(', and ahall be 8t:"(:un'<:l
by the }i('n of thill morttl&&e.
6. That ho will pay ail 1I.nd. &.w~l1u- the COlIlf,. cha.rtrtll, a,nd upE'n~. indudin, l't'AMmab!(' !Ilwy,'r'~
leu. ..nd C(J3U of ..bltr&t~ or tItle, IncurN'd or paid at any time by the mcrtlllie>(' ~'~use of tt1l' fBliuro:>
on the part (If the morti~or p\'(lmptl)' Iiltld fllJly to perform tht ~ie-emtnt..t and t'o\'t'l1anb of !1l1l(1 pnlfll-
iMM)' note and thiA mortgage, and u.id COlt., chug., ~Qd tlxpenMle ~all be immediAtt'ly dUt' and P3Y-
.-h!e aJld IIhall rJ\1l!le(:un!ld by the lien of thi. mort,.....
7. That he will KP.<l'p Ow irnprovementA now exiating or here&fteT ere<tro Oll ih" rnortg:ill(....i property.
in.aurL,<l M may be f'fIQu\re<i from Umt: to time b)' the mori4~ ~ain.!t l(~ hy lirt' llnd other hazard!'.
CMUllIUM. &JId CQnting('nck~ in 8uth ..mounta and tor .U<;}I period..'! u may t~ r('>luir"d b)' mortg~~'..."
And will p.ay promptly, when du". an}' j)~iunu on such in.aura.Hce for p.A}'nH'nt of whkh provi!\!lln hii.1\
r~ot been .m~de hereinbefore. Ail i1141.l~lUlCe ..hall be t.arried in "ornpani~ appro\'(,i by mortg;i.ge~' find
tile pol:rlce Etnd renewala thcr~'Qf ,hall be ht'ld by mortj"*-aet'! and ha\'c attat:ht-d thE'fl.!to 10fti' payable
dal.iMl& in favor of and in loon &Cc'~lit.ble k; the mortill&'~. Ir, eVe'nt of lo&.' ht' will giw immedll\te
nc.lice by m~il to rnortgllgN', and rl1ortgllf(~ may make proof of Iou if not made promptly by mort~!liiOr,
a.nd e~h in3Ur~IlC"" comp.,any f;olwerne<i is hHt'hy fiuthoril~ !.na dire-.:ted to milk., !)$ymFllt for such
10$8 dirt:t.:t1y to mortia~<c in!lt.l'ad of to mortgagor and mortga.gt"e jointl)', sfili HH.' in.811rance prl'>CI'<"!". 01'
,..oy part thl'ft'C)(. may 00 Bpplic"d by m!)rtg"~ ~t itA option ~ither to th(' reduction of the Indl'l;t.~dnH',8
hereby 5Kur~d Qr to the r~tontl~n or rqHlIr ox. the properly daEnApl In ~vent of fOff-<:loi'llJr:' of lhul
mortpv or otnt'f tnm,tler of t1tll.~ to the mortgaged property In extlU~_H6t\riH'nt of tin' Indd)t~'dnt'~
I!<<urtod hereby, illl right. title, aad interelt of the mQrt.a~r in and t~j a.ny lnAUrlU\Ce pdiCIC!:a thcllln force
10MB pua l~ the pUrcl1A.lJ(!f or iTlUlte:e.
~_ ~~! t.h.. rn...r~~ nlltY. at any time ~ndini a lult upon thia mortgage, Apply to th(' court hAv,
ing juri&didiotl \hereo! for th!' IlppOinU11tnt of " r~eiv('r, Anti ilucn couri. ;s:ll,ii iVI'~I"i,~, Dr'I~-.;"~ ;;
r~('i','er of UH~ pr~miM'll ;:o\'~r~.d hen-by all and aingulAr, including- All and ~itlgular th~ income, prof!t.!,
iuueI, and N'venuM from whAtever wurct' derivf.ld, eJl<h And e....e<}. of which, It tt{'lllg rxpr>:Mly under-
Iltocod, ta heri'by mort6l~ u it apedfkally let forth and d.<ribed in thl! granting Jind f;l\bcndum dau!\(','l
hfreof, Ilnd iHlth receiv~r shall have all th~ br04d ~nd t"ft'octlVt funetioml and POW('" ill sny....i!!"
eotr\lat<,i by & cotJrt tJ) a r<<'t'iVt"f, and &uch app,ointm~ni ahAIl be made by such ((oint M an 3clmltl~1
equity and a matter of l\tl6-:l1utt.. right to said rnortgll;(~, and WiU10Ut l'derell(,~ to thr adequacy or in/Hi-
equaCY of thl:' '/sluf' of the property mortgagoo or to the 6<..)I...."ncy or in.lolvenq' or r.aid 1ll0rtl{iij{or or the
deftndant..a. ltod that such rt'ntll. profits. income, lMuea, And r~vt'nues /lr.all l:>e applied by liuch rC-<:l'i\,(>r
..;xor...!Inf to th(' Hen of thi!\ rnortgAgt~ and the prAl:tke of luch Nurt. In th~ €Hnt of finy (kfault on th..
part of UH! m()rtga~or her{,i1nder, the mt)rt~~.gor agH~ tD pAy to th{l' rnortgait~ on demand /\" ~l n'MOIl-
able monthly rt'nul {or the pr...rnl&('l8 an afrl(:tlnt at lUiil f'Quivi.l~nllD on~twe!ft.h (I'll! of the i1J1[~r'.i(ltV
of the twelve f1vmthly inAtAllmenta payable in the then current Yf'.ar ph.l!l Ulf~ actusl ciInOunt of Hit' annu/iL
tJuea. ~1T1en~. wat.er ut..., and ins!Jr&oc€i pf@miu014 for 9u;:on p:ar not covo:rN by thf~ afol('~id
mont.hly paymentJ!.
9, Tht' mortgagor illrt~~'r ('?\'('Ilfwta that should lhlll n\fJrtJage and tht' !"Int.. 1H~llred hl'(,"by.. ,not t)(.
di~pbl{' for llliHJrlHlce ullon d!~ NatIOl.l,al H:.lU:lIil' Act w!thl!l 30. d&ya (rom the oaV, fH'r,'{Jf
(wntt('ll l\tStHI1l'Ot of any oftkt'r (If we r ~iat\l HOU8\ng AdmmllltretlOl1 or iwthorIznl &!(l'lll of th..
V."j(,fal HOU8iHl{ CornmiuI0fH'r dilt~'d !!UO!'iJ.'quc-nt to the fAfor-~.aid tHi1l' fNin tht' dat(> of Hns
rnortgagt., lh....:linlrlg t'i m&Uf/' Mid nok ftnd this mortj(l1g"f'. h('ing Gt'€m{'(\ (l)llclUl\lVe pr(4)( of !i'.ldl Ill,
t'!iRlbiht)'), th.~ mortg:lgl'~ or the hoh!H ot tht' nnk maL at it<l option, de.dar i' il-Ji 5Ump. SN'U red h...nuy
Immt'd".tdy due ~nd pay/,Dle.
10, That ((I) In th., .''.<'litO! an)' br,'adl of thill mortgage for ,h'fa.ult on the part I)f the' rn"rtgaH"'l!, or
(b) in the event that l\ny (If llo.fwi Bum/) (If money hndn rdt:rrt-d to l;t, wA prl1mptiy 1\111] fully paid w!th-
l1ut ,1f'lIls nd or noHct.. Df (() in the .>VHlt thAt f'.&ch And ..wry tile lIt1puh\tion!. Il.gn.f:!11('ri tA, ('-,nd It :on~.
an.1 c...'.cni\ntA o( ~Aid not~ and this morigagi'. ar.. not duly, promptly, fl.no tuny prrCormt"tj; 1!lt'1I IIi
Plthu or allY 8u;:h evu\t,. the ~id All!;iregat.t. Ilum 1nt'lltWfit'J 111 Mid n(:;t(. Ul€li n.'malf>mg ll/lf4iilL Willi
Hih.re.t an:Tued to that ~HTie, :md all mo:wy~ H'('Uf(".i hen~b)', .hAIl ix~omfc du~ aUllt payable f(l~lh;.;<'lcL.
i'Y thN(:~HH, at Hw option ill !'.aid mort1(a.i~'e. IUS fully and compietdy &.ft if 311 of thr' &aid IHlfllA of IllOlle\
weft' orllinaIlYlitipulatc.d to I)ti r..aid on Bu.::h d.ay. ttr.Ylhin~ in Mid ~lotf: or in thill mortK8Mf to the c{'iilrar>
llotwilhAtandlilg; t!nd Hwreuplifi ur tlwr~Aft(>r, att the optIOn ol 3-a\d rnortKAg..'~. WIthout n011c-: or d(.m~nd_
~\.lIt At iaw or in (..quity. fila}" be pr<..s.ecuu.:~\ M if All money. !-('(und h~r(>by h3d f!latuft'd pri(Jr to it" illl~tl'
lution. The mortgag('(. may f(lredo~.e tilis mort~.~, M to th!! amount, Ill) rlt'dart'd du<:, amI fi.3ynb!.., am!
the ~id premise'! t.hRll t"" 6<)10 to Mtid, !\nd pAy th€ /lame tJ)f"i",ther wiU\ Ui!lA, O.pOl~d, /lOG sll!lw&rl('f'~
In C43<' of putisl fon:'(:.lol!ure of thiJ morti:ag.~, the mortg~t'{j pn'fnilK"8 AhAH bl~ &>)1.1 Aui)j("Ct to th... con
t:nu!f)R hen of thi~ mortgage for the Amount o( the df'bt not then rlu~ enr! unpilId. In Ilurh (,illV' tht. pY"
....islOnJil 0f thit pArnl(r~ph m8.)' apin be Availed o( tht'Yl!aJV:r from tlln~ to time by th" rnnrtgll~~"..
11 That tb.. l1'.ortiagu, will giye imm~du\t~ Iloti('(' by fOail to) UH' mortg_gN' of any COli\l')lWCi'.
tr&H!lfn, M ch.llnift' of own~nhip (If HI(' Dretnl~.
1 ~ That no wah'!f of 1Ul)' COVCl1ant hN'(2in or of th~ ohliglltion ~ocur~1 heN/by I!h$.H n! any tlllV'
tht'~t...r I"" h.ld to l;.l? A waiver of the t.el1Tlt. her.....Jf or .A ~h(' not"! y.,'ured lH'f'ehy.