HomeMy WebLinkAbout1712 ~ , i i
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~d iow:ana pe+eeoimn~. as tb?e ws my? ~wch eoccer shaU be creditsd b~r the mortsa~es on aub~equen~
pyrments ~o b~ made b~ tL~ a~ortp~or. Lowev~er, ths monthl~r p~meuts m~ b~r th~ mo~or
ond~r (b) d pasa~raph $ Dreoe~i~ shaD not M~t renb. tu~es aod as~saat~nts
~ and insnraDOS~ as the cas~ m~yr b0. when the wos beoo~n~ dw ~nd pqrab~t, _th~n the •
. most~r shall p~ ~ atyr aauount aeoe~sstr: ~ malce t~p th~ deflcia~r. on or beTore th~ .
; dst~s when pqm~t a~ wch jpn~reota~ taxe~. ~aeesemanb, o~ foswranoe P~n~nms s6aU be due. Ii
at aq~? ttms t~e ~~6aU tender to t~s mort~i~es. in aooordanoe with the provisions oi the not~
~ecu:+ed hereb~. tbllp~ymeot a! the enNe~s repra~ented thereb~. tl~e ma+~'t4'a~ee a~n oom- •
~ the amount oi soch credit to the ~oonnt at tLe marti+~or aU ~t~ nnder
p~ovisiona at s) ad para~raph 8 hereoi which the n~crr~ has aot beoome o~ted tr.~MY bo the
snd an~ bslanoe reca~in innds aocum~ted nnder thd proviaiona
8 Ii there ehall be ~ defwlt nn an, ot the provisio~ns oi thia mort~ rs-
snltin~ in a ssle ot t~ ~oovar~ed~ theyt~ne ai the t~oi wrch pr~oa.'~dip~~n~~
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wLe afte~r defan~, ths ~a~es ~?P .
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4. T6at ba win p~ an nse~, aa~ee~meats. ~ater rates, and otLer govarame~?ta] or municlpat ch.reces.
f~a„ a~ imposit~oo~. ior which proviaion has not been made hereinbe?ore. ~?nd in deiattlt thereoi the mortr
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; 6~. T6at he wIU pesmit, oommit, or wSer no waste; imps~rmenk ot dete~iorat~ o~ uid P?~Y
~ aq~~u~{ t6ereo~: snd in the eiv~t oi the failnrs at the ~O ~eep tLe b~aild~n~ on win prem~aea
and ~se to be ere~fed oa said premises, or improvemen~ ia ~ood rsps~r,~ th~ d
t~he M
maloe wch repaiss as in ite diacretion it aW? deem uaoessar9 Pi'~P~' Ps'e~?a
it~ll amount af each snd every anch p~nnent ahall be immediste~ due and p~yable, snd sball be secured r
' b~ the lien a~ this mo~a~.
d. 1'hat 1re will -pa~r aD and the oaoa, char[~es. and exPenses~ ~l n~ rea~onabie la~?er'a •
iees,~ snd ~ as ~~hstra~b o~ titi~a~rt+ed or paid at an~ tims by t6e n~~~s~~ becsuse of tbs failure -
an the part a~ the mortB~' P~PW? and to pertorm the a~r~mnenb snd cavenants oi ssid proio- `
i~so~r note and this l~~thia~~~~c~ s~all be immediatdy due and pa~y
abss and shaU be secure~n~ m~r~~~e.
Q. Tbst he will the impt+oveauents now exisNn~ or hereaiter erected oa the mart~a~ed P~Y. ,
inwred ~u• be ra~~i~ed, iran time to time by the mo laa by lire ~nd other hasards,
um~
' pu~lties. and cont~ngaacies in anch amounb snd iar a~W~ ~ m~y bs required by mort~ag~ee. ;
! and will p~,yp~omPt~?. a?1~ea dne~ a~7 Premiums on swh insurano~far psyment oi ~rhich provision has .
' not been made Lsrsinbetore. dll insnrance ahall be carrie~d in aomp~
es approved by mortgagee and
nb t
the polides snd renewaL thereoi ahall be held by mortga~es ~nd have attach~d thera#o laa payable
elanses in Lvor a~ snd in form sooeptable to the mortga~gee. In eveat oi loes he MriU ~ive immediats _
notice by mail to mart~ages, and mort~~ee ms~y make proo~ os I~ss ii not m:?de P~?P~Y b7 .
' and each insaranoe eompaqy oonoerned ia hereby suthorised ~nd directed to nulce payment for such .
; - las direatiy to instead oi to mortgag~ar and nw ~ointly, snd the insunnoe prceeeds. or .
~ any the~+eo~~~~applied by mortg~g~ee at ib option~er.to fihe reductton of the indebtednees -
; .~sewred ae t~ the restontion or repsir o! the proPert~ danu~d. In e~rent o! foreclosure oi tbis -
. or ot6at tramte~r oi title to the mortg~ed propert,y in is~ment of the indebteiness _
bereby. aD ~ht, title, and iat~+est oI the mortas~or in snd to aqy policies then m oroe
~ , aluU paas to t~e paciehaser o~r ~raatee. . ~ . . . '
8. Tbat ti~e mort8~gee m~y. at anY tima l~din~ a anit upon this mostga~e, appbr Lo the eourt ~u~r-
ins ~urisdiction thereof ior #he appointr~t of s receiver. and snch uonrt at~ll forthwitb appoint a '
reoe~vac at the premises eavered hereby all and ai~ular. in~cludia~ ~11 and , the it~oome. Pruflt~. - .
v
. iswes, and s~enr~nes lro~ ~r~}sbever souroe derlv each snd gv oi which,~beint expresa~y nnder-
stood, is hereb~ mo,rtg~ed as if ~ set iorth and describei the~an
t~ng snd habe~dnm clauses . -
; hereo~ and such reoeiver shall hsve a11 the brosd snd e~ective i~m~:ti~s and pa~vers in anywise
e~trus~ed b~ a eou=t to a reoeiver snd anch appointm~t s1uU be made by auch oourt as an admitted
~ ~ eqni~,y and a matter oi absolnte r~ght to eaid mort~sgee. and withait referenoe to the adeqwecy or insd-
eqnacy o2 the vaioe o~ t~ ps+~perty ma p or to the aolve~? or insolvency o~ asid mortQasor or tbe -
deZendants, and that anch rents. Proflt4~~[n o~~e, iasnes. and rav~enn~s shill bs a~lietl by suc~? reoeiver .
to tl?e lie~ oi thia morkgage snd the practiee oi auch ooart. In the eve~?t oi any default on the '
~ aiort~or herenndert the mortgagora~rees to pa,y to the mort~ee oo demand as s reason-
able mant~ rentsTtor the an amount at l~st aiaival~t to ane-tweKth (3i:) ~
~ ot tbe twehro moat~ enb p~yable in the then cn~t yeu plns the sc~ smonnt oi the snnwl
a~sesm~eate, water rate~ and inanranos paremiums i~ axh yaur nat cav~red by tbe atoreasid
, n~ ~~?b- " . .
~ 8. T6e mort~ag~or further ooventu?ta that should t6is inort~s~e and t6e note sewred hereby not be
. eli~ible ior insuranoe under the Nstional H Act witbin ~pp
~YS iroan tLe date ~ereoi
rvritten ata~tement ot sny o~oer of the F~d~ Hovsio~ ~l~In~inistratioa or anthorised a~g~ent oi the
~ederai Houaing Commissioner d~d aubequeht to.the 3p YS - time irmn the date of this ~ .
mw~tQsge, declinins to insure anid rrute and.thi~-wortg~g~e, b~g deenaed oondusive proof oi auch itt -
eiigibilit9). t6e mortg~g~ee or the holder oi the note mqy. st its optia~, declsre sq snms aecured her~y
immedistely due ~nd pq?able. . . ~
_ 10. Tbat (s) in t6e eveat ot anJ? breach o! tfiis mor~a~e or detautt ots tbs part a[ tbs mo or
(b) in the event tir~t any oi said wms oi mone~ he:+ein re~en+ed to be not promptly and in14 i~
t~ .
. ont de~mai?d ar na~tio+e. or to) in t~ event that each and ever~? tha atipu1~tion~, asreements, eondition~.
and oovensnts oi asid note s~ul this mortgs~e, sre not dq~, promptly, ~?nd inl~y perioraied; ~then in
eitber or aqy wch evenk t~e s+?~d te anm meatioaed in iaid nat~ ~~siai~ nnp~ with..
int~d accrned to t6at time, and ~
a aecur~ed her~by. sbaU beooare dae atul pe~y~bk i widl, ~ .
~ or tlhereatter. at the option oi said nart;a~ee. as iully and oomplete~y a~ i! alt at t~e sud sums oi mone~r .
~ were orQinall~ afi.ip~4ted to be paid on ,aich day,an~ in said aote or in this mart~a~e to t6e oQn -
' notwit6standwt: and tl~r~.wpe~n or th~er+e~it8r, at thetl~o~an oi ssid mort~ee, w~ithont notia~e cr de~~ _
~ ~ snit ~t 4w or ia equib?. mt~y be prosecnted as if stl moneys secured hereby had mstured yrio~r tu ib 3nsti-
• tntion. Tlre na msy loreclae this mort~e~ aa to the amoant ~o dec4red dne audy ~1!ab1e. and
~ . _ the ss~d premiaes~~e 11 be ~old to ~?tisiy ~tnd P~,Y- tf?e ssme to~ether with oosts. eac~en~, sadiu~owrance~.
$ . In eare o~ partisl foreciosn?re ot this mortgu,~e. the mortp~ed Premiees shsU be ao aabject to the aoo-
' tinnin~ lie~ of this mort~+e for the aaaount oi tbe debt nat tbea dne and uap,~iiL..~.tt ach e~ue 1~e pro-
~ vLion~ oi this parasraph may a~ain be avsiled a~f there~iter from time to tia~ b~~"
t
b
e mo~t~s~ee. •
~ 11. Tl~at ths mortpg~o~' wiU give immed3ate notiae by mail to tbe inwrt~arwe°~ ane~ ~
~ ~ ~ . ~ne~a~, a~e e~ao~e e[ o~ship ot the ,p~,~nise.. ~ 6ltr~ ~ ~([5~0
12. That no w~ver ot aq~r cuvaant hereia or oi the ob~i~on seeurea hersb~ s1u11 at any time t
~ th+~reafter be held to be a waiver ot t6e terms here~i or oi tt?e note aecured 6erebr.