HomeMy WebLinkAbout0315 . . , . . . ~ . . . ' . ~ . . ~ ~ . . . . .
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~ and insus~nos presnimns. as tho cass m~ ~such eacoea~ shall be credtted b~ the mort~~
pa~menb tio bs mad~ b~ the mort~a~or. hopever. the manthl7 p+U?ments m~de b.1
~ ander (6) ad D~'+~raW? S Preobdin~ shaD aot b~ sufDcient to p~ ~rou~nd renb, taS~a. i
: ,tnd iasnr~aos_ _presni~mn~ ~s the ca~es m~y be. whea the s~me ~tuit beooma aoe ana p
mozt,~s~or ahsll p~U? to the m~~ee ~uno~nt necessarY ~ make up !he deflciancY. ~
~ dats wha~? pymaent oi aach ~oand- reata ts~cea. aaeeeame~t~s, or inwra~e Pre~niums a
a! atp? tinne the nwrt~or_ sbaU tender to the awrkB~ee in a~ooardanoe with the provia9
secur~od hereby, fallpsyn ~t of the entire indebtedneas repreees~tal fhereby. the mort~~
~ pttttin~ the amount o! sach indebtednaee. credit to the su~nnt oi the mort~a~or a11 ~pm~
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~(b) ~~d 8.' u there shsU be a defautt nn a~? o~ the Frovisions o! th
snltia~ in a lia aale a~ the premise~ oovered hereby or ii the mortQaSee~oq~iras th~
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the ~ the pro $ is oth aa a
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amonnt~i~`~p~~c
Pa1 t~hen
r~~u~i~in~i~
~ f~'~b and ~6~U~*~~~mt aRY P4~eata which ahall Lave been made nnder (a) o!
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~ ~ 4. Tbst he will p~y ~11 tiuces~ aasesemeats. vvater ntes. and other ~ove~rnmental or m~
i ftnes, or imP~~ons. for which proviaion h~s not been made bereinbefore. sad in deiault 1
~~ee u?~1~ P~1 the asme; and ttut he ~rill promptly daliver the otflcisl reoeipts therefor t~
- - ~ ~ ~ '
- 6. T6at
ha_v~ili ~it, ~it, ~'suS~ aa waste, impafrmen or ~orat~~ oi a
,h
an~r thereoi; and in the ~rent oi the iaiture at t~he m ~ keep tbe build~ ~
d or im vementsa~ in ~ood repair. the
. sai P~
~ r, and h~ose to be erect~d an premises,
mate such re
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a as in ita discretion it may deem nee~eeaary ior the proper preservstion
. , = iqll ~mount oi e~ch and every a
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, , ~ b~ the ~ie~ a~ tbis mort~~ge.
~ = 6. Tbat he will p~y all snd a~In~?r the cats, ~2~ar~ee, ~u1 eocPenses. incl~dia~ re~
ieos, snd oab ai ~tracts oi title, urred ar p~aid at any time by the mor~t~ee becs~
on the p~rt oi the mortgag~or prompt~Y snd i to perform t6e aQreements snd oovena
• - iesozy trote and this mo~g~ ~nd aaid snd espeases a1~U be immedi~t
able aad s2ull be aecured
br
y the lien o~ this ~ag~e. .
~ 4. Tbat he will lceep th~e iaiprove~n~ts now e~dst~ng or hereafter er~cted on ~e mos
insured asm~y be required i~co~n tinne to time by the mo~ ~ loss bq flre an
p~cs, snd contin~encies in auch announta and for s peri as m~y be re9uire
~ and wiII pgy pro~mp~hen du~ sn,Y Premiums on snch insuranoe far t o! wh~
u_
not be~ ms~de ore. AD insurutve ahsll be carried in cam es approved b;
the pdides and renewals thereoi ahsll be held by mortgaaee and ve ~?ttached the~
- clsases in favor od snd in lorm aoceptable to tl?e mortgagee. In e~v~t o~ loss ~ie wil'
. notioe by mail to nx~rtQa~ee, aad mor#ga~ee may make proo~ of loes ii not made praapl
. and each in~aranoe oompany concern~d u hereby sutthori:ed and directed 'to make p
~ ~ loss dii+ectty to mortga~ee instead oi to mortgagor and mo 3oint~y. and the iwsur
~ ~ypa t6ereo~l~ may be spplied by mortgagee at its option~i~ to the rednction of
herebyrtsxured or to the r~storati~ or repair oi the roperty damaS~ed. In ev~t of i~
. mort,~ag~e or other trunsier of t~tle to the mortS~ P~A~Y ~~~~shment ~
~y~ alt ~ht~ title, and interest oi the mortgs~or in snd to any ur~woe poli
s6aU~p~p Lo tbe p~riehaeer or gr~ntee. .
- 8r T~st ti?e ~t~ort~agee maY. at any time pe~adiu~ a snit ~ snch oonrtr~ ah~llpi ~
in~ nriediation thereoi for the appointment oi a seoelver, _ or1
' ~ver o~ the premises omrered hereby ~ll aad aingalar. incladin~ all snd a~a~lar th
iasaes. a~l reve~nes irom ~uttever sonroe derlved, e~ch snd e.w oi wbic2~, t bein~
' stood; ia hereb~ nart~a~ed as if speciRaUy set forth snd descrlbed~ tbe ~rantinB snd 1
hereo! and ~anch reoeiver ahaU have sq the brasd and eHect[ve ianctions and po
eatrns~ed by a oourt to a reoeivert and such xppointm~t ahaU be nude by such ca~
~ eqnib? and a mstter of absulnte r~tt to said mort,~a~ee. and withoot referenoe to the
equac~ of the valne of the propert~ mort~~ged or to the aoh?enq? or in+wlvency of ssid
- defeadsnb, and thst anch rents. praflta, incom~ issues. snd revennei ahsU be appUed
aaw~to the lien oi thia mo~ge.and the practioe oi anc1~ oourt In the event of ~
put oi ~or herennder the mortgagor~r~s to p~r to the ~
trtgag~ee~ de~
tal for the an anaoant at le~st eqniv~t to one- ~'ns,
on ren
able m
~
oi the twetve monthly imtal~payable in the then current year plns the actual ~
;
not covered
ear
taue~ ass~sments, water rates~ and msuranoe premiuma for wch y
: mc~t6br pa~?meats. .
9. The mortgag~or: further oovenanta that shonld tLis mortgage and the nate aecu
~ elig~ble for inaurance under the National Hoi~sing Act within - 30 daye iri
(written statement oi any o~cer of the Federal Housing Adminiatration or sutLor
Fed~al Honsing, Commisaioner dated subsequent to the e f oresa id time irc
- - ~ ~ mortgag~e, declining to i~aure s~id note and thia mortgage, being .deemed conclnsive
~ eligibility), the nartga~ee or the~ holder of the notc may. at its option, declare all au~
, immediately due and payable.
10. That (a) in the event of any breach of this mo~t~age or defauit on U?e part oi
(b) in the event that any oi said suma of money herein efe~red to be not promptly an
~ out demand or notice, or (c) in the event that each and every the atipulations, sgree
, ~ and covenants oi said note and thia moifi,~ag~e. are not duly. prom~tly, snd fuUy pe
i ~ either o* any auch event, the aaid te awn mentioned in asid note then remai~
inter~t socrued to thst tin,e, aad ~eys secured hereby, shaU become dne and 1
_ or tbereafter. at the option of aaid mortgagee, es fuqy and completely as if all of the s
I; 'were orginall~r stipulated to.be paid on auch dsy,~nything in said note or in this mortg~
~ not~+rvithatanding; and thenwpon or thereafter, at the optton of aaid ~rtgagee. withou~~
iI
, auit at 1a?w or in equih?. a~Y be Prosecnted as if all moneys secured hereby had mature~
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The mort .
tution
I:_ - the aaid premisee s~U
be~sold to sat.isfy and p~~ eame together with casts, espens
- mort remises shsU be eold
f mo the
I~.~ Iit case o! psrtwl foreclosure o this rtBaBe, 8~8'~ P
! tinuing lien of this mortguge for the amount of the d~t not tl~en due and nnpsid. Iu
t: ~ visiona o! t6ia paraaraph may s~ain be avsiled of t6erEafter irom time to,tinse by the
1!. Tt~at ttie mort~a~or will ~ive immedi~tte notice by msii to the mortga~ee c
trsasier. or chtueae oi ownerahip oi the premi~es.
F r ~ 12. Tlut no waiver of aq~? cavea~nt herein or ot the abltrstian aeau+ed hereby
t6~ereatte~ be held to be a wsiver oi the terms hsreoi or o~ the note iecnred hereby.
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