HomeMy WebLinkAbout1269 ~ , • '
~ ~Od ~AW~'i110~ pl+~i111~ Y t1N CYO Dly M1C~ ~0lM ~1~11 b~ C~Led ~i!
pqmlOti ~0.~ fi~ ~~N ID~0l~pj~0?.~ b0~1~lri ~N II~~ p~y~b~lal~f~ j
aM3~r (6) a[ para~raph = p~o~dint thW not b~ tio pq r~nb. tua and aaeanaenb
~d i~u~~ ~p~~ ss #t~a ca~ m~T b0. wh~ tke eaa~ ~beo~ne due and p~;~bk~ en tbe
~ mort~a~or s6all pq to tbs 'p~~ ~~t neoe~aar~ ~ mats np tlrs deflcie~y. on or ore the
a~te whan p~ymen! a~ an~ r~ab„ ta~tes. a~nenb. or fnsuranos P~'em~uma ahaU bs due. Ii
; at aay time t6e most~a~ot' ahaU tandes `o the mort~~es in aoooardanos with the provisiwu of tha note
i aecured he~cebY. ibU~
t ai the entit+~ iadebteduess ~tec1 therebY. the mort~a~ee ahsll. in oann-
; p~~ the atnount oi wch indebte~ee~, ct+edit to the aooount at the mort~a`or allpay~
enb mule under
; ~
h
e c+
o
v
i d
o
n s a~ s) o~ p
~
r
a~ c
a
p
h 8 hereo~ which the n ~
a?
r~
o s has not beoame ob~ated ~o paU? to the,
; snd an~ b~
l~
n
o s re~n~
i
n t
b
e i
n
n
d s accum u
l
a
t
e d un
d
e
r t
he prov i s
iona
~(edb 8. I! there a1~aU ba a datantt un ~ua~y o~ the proviaions of this m~~ ra-
snltios in a s a
k o
i t
h
s p
r
e
m
i a e s oo
v~
e
r
e d h
e
r
e
by or i i t
h
e m
o
r t~~
e s u'+ 4
u i
r
e
s t
h
e p
r
o
p~ e
r
t
y o
t
h
e
r~
w
i ~ e a
i
t~
r d
e~
k ~?a n~~~~ ~ . a
t t
6
e t~
m
e o
i t
h
s a o
m
m
e
n
o~
e
n
t o
f w
c
h p
r
o ce
e
du?gs o
r a
t
tl~ ttme the pro it b~laaoe then in the fnnda aocumuls
t
e
d under
~ b~ ~ p~
8~ as s c
r
e d
i
t ~
a s
t t
l
~ e amoun
t~~
p~
l t
h
e
n ~ n i
n~ u n p~
i
d u n
d e
r
u s
t a
n~
y ~
y
m~
t
s w
h
ich ahaU ha~rs m a
d
e un
d
e
r (a) o
i a u
d psra~rsp
h. ~
,
~ 4. ' Tbat h~e will p~y aD tase0. asse~mn~ts. witter rates, and other ~overnmentsi or municipsl chArges,
tiona. ior which proviaion has not been made hereinbefore. and in detault thereoi the mort-
~io~y~~he aune; ~nd that he will promptly deliver tbe o~cisl reoeipb therefor to the ~ortgagee.
b. Tf~at h4 Pesmik oo~n~it, or sufter no waste, impairment, or deterioratiou ot said property or
ste,
~ ''~p~t ';'and in the event ai t1~e i~lnre of the m to keep the bnil on saia premisea •
~ # and ~hae to ba ' on ssid premises. or improvementaa~n. in ~ood repair. tbe mort8agee tna~?
~~e such rep4~ ib disctetion it may deem neoeesary for the proper preseivataon thereol, and the
. inU amonnt oi snd every such p~yment ahall be immediately due and p~yable. and shaU be seaured
~ ~ ~ b~?,t~ferlien c~ ~anort~a~e~. -
Tha~ ~s wiU pay all snd sin~ular the cats. cbar~es, and e~cPenses. includin~ reasonable haryer'a
iees, and oosb oi abstra~cts a~ titia incnrred or psid at aqy time by the inor~~ because oi the failure
si
on the part o~ the mortga,~os PromPW? aad t~ periorm the ~e~eementa u?d ouven~nts of said prom =
issory aote and tbis mark~a~ ~nd said oosts, and e~cpenses aluU be immediat~ely due and p~•y- •
abk and ahsil ba aecnred by lien ai this mort,~a~a. .
T6at he will Y the improv~ne~nb now e:istin~ or hereaiter erected on the mortgag~ed P~P~Y.
- insnred asm~p be req~u~ed iran time to time by the m loss by flre sund other hasarda
disaalties, snd coatin~ei?cies in anch aanounts and ior a~c~ perlo~s as m~y be required by mortgaeee,
~ and wi1l pt~y ptl~y~ when dn~e~ suoy premiams on such insuraaoe for ~yment oi which provision has
~ nat b@es? o hereinbetore. AD insuranoe shall be csrried in oomp~n~es . approved by mortgagee and
I tha policie~ -~•renewals thereoi ahaU be held by mortg~ee snd have attached thereto loss payable
~ clanses in favar'oi and in torm aooeptable to ths mortgagee. In e~vent ot lae~s he ~viU give inamediate
' b m~jl~o ~?ort~ag~ee, snd mort~~ee may maice prooi oi loss if not made FromptlY bj? mortSaSor.
! nt'~nce oampeua,y conoerned ~a hereby sathorized snd direct~ed tfl make psyment ior auch ~ ~
, d~~tolm[ortgsgee instead o~ ta mortgagor snd mo ~ointly, and the insurance prac~eda, or
~ ereoi~ m~y be spplied by mortgagee at its option~er•to the red~ion oi the indebtedness
~ ~a~r~•~ to the r~toration or repsir oi the roperty ~s8~- In event oi foreclosure of this '
~ mo or pt~er tranafer oi title to the mortg~e~ pro`per~y in extin~uishment of the ind~tedness
1 , ~ili right, title, and interest of the mortg~gor in and to an,y insurance policiea then in iorce
~ s6aU paas~ti6'~e pnrchaser or ~tsatee.
g, That the nnortgaQee m~y?, at any time peadin~ a suit upon this mortg~ge. sppZy to the court hsv-
in~ nrisdiction thereof for the appointment oi s receiver, and snch oourt ahall iorthwith appoint a
. ~ ~ver oi the pre~?iaea oovered hereby all and ulir, inclndin~ all snd a~'~~ the income. pro8ts,
~ issues, and revenaes fran whstever sonroe derive each and eve~y a~ which.~t beiwe e~cPresslY nnder~
; - atood, is hereby mort~aQed as ii speci8cally set forth and described in the granting and habendnm clauaes
; hereof snd snch receiv~er s~sll luve all the broad and eHective ianctions and powera in anywi~e •
1 enttrus~ed by a eourt to s reoeiver, and auch appointmeut aluU be mad~ by auch oourt ss an admitted
equity and a au~tter oi abs~lute rig6t t~ ssid mortgagee, and without reierenee to the adeqw~cy or inad-
; eqnacy oi the v~Jue oi the property mortgAged or to the whrea~.y or insolvency of said mortgag~or or the
~ defendants, and thst such reats, proRta, inoame. iasnes. aud revennes shaU be applied by such receiver
aooo~~g to the lien oi thia morfi,Qage ~tnd t6e practics o! snch oourt. In the event of any default on the
1 - put oi t~?e mort,gag~or hereunder! the mortgagor~rees to ps,y to the mo on demand as a reason-
able manthly reatal ior the pr~~aea an amoant st least eqnivalent to wre-~ (~is) o! the aggregate
~ of the twelve monthly instalLnenta p~,yable in the then current year plus the actusl amount of the annual .
~ tsses assessments, water ntes, snd inaurance premiuma fo~r aach year noR covered by the atoreaaid
mont~ p~ym~ts.
` ~ ~ Th mo r farther oovenanta that should thia mo and the note secured hereby not be
9. e rtgago
~ eligible for insurance under the National Housing Act within 0 daya from the date fiereof
~ ( written statement oi any o~c~er of the F~deral Hoaaing A
fdminis
a~iqn or suthorized agent of thia
i Federsl Housing Commissioner dated subeequent to the La time irom the date
~ mortgage. declining to inaure asid note and this mortgage. being deemed oonclusive proof of such in
r eligibility), the mortgag~ee or the holder of the note may, at ita option, declare all sums secured hereby
iaamediately due and payable.
,
~ 10. That (a) in the event oi an,y breach of thia mort~g~e or default on the part oi the aartgsgor~ or
` ( b) in the event thst any oi said suma of money herein referred to be not promptlq und fully paid with-
out demand or notice, or (c) in the event that each and every the, stipulations, Agreementa, oonditions,
and covenants of aaid note and this mortgage, sre not du~r, prom ly, and fuUy performed; then in
either or any such event, the said te suia mentioned in ssi~note then remainin~ uupaid with
si
~ intereat su~crued to that time, and sl moneys aecured hereby. alvU' beoome due snd psyable fort~with,
or thereafter, at ~ne opt~n or ~a ~rcea~, ~ ruuq ~,a ~np~t~ar ~ ~ ~i or t~ ~a ~ or ~~y
i were orginaU~? atipulated to be paid on such day.anything in aaid note or in this mortgage to the eontrary
~ notwithstandu~g; and thercwpon or thereafter. at the option of said mortgagee. without notice or demand,
- auit at law or in equity, may be proeecnted ss ii all moneya secured hereby had matured prior to its inati-
~ tution. The mortgag~ee may forecloee thia mortgsg~e, as to the amount so declared due andpayable. and
the said premiaes shall be aold to sstiafy and psy the sanre together with oo~ts, expenaea, and albwances.
In csse oi partial forecloaure o! this mortgage. the mortgt~ged premis~ ahall be sold subject to tt?e ooa-
tinuing lien oi this mortgag~e for the amount o! the debt not then due and unpaid. In auch caae the .pro-
~ viaions of this Para~'8Ph maY ~gain be availed oi thereafter iroaa time to time by the mortgag~ee.
~ .
~ 11. Thst the mortgsgor wiU give innrmediste notiae by msil to the mortgsgee oi any conveyano~
: tranafer. or chsnge oi owner~hip of the premisea. - .
€ 12 That no ~vaiver oi aay oovenant herein or ot the obli~ation aecured hereby aha11 st xny tim~e
~ t6ereaiter be held to be a waivez~ ad the ternia hareoi or of the note secured hereby. 0. R!
~ ' 80v[ ~ ~~7c7
~ _ _ . • .
~ 4- •
_ _ . _ _ _ . .
_ z _ . _ _