HomeMy WebLinkAbout2488 ~ ' ' : _ . • _
- - : ...~.r ' .
~ , ~ ~ti
+ ~ ~ ~1~N~ Y ~ C~N lD~ N1C~l l~00~~ ~h~11 b0 Q~L~ ~ ~N 1b0~~a ~A ~l~Q~t
~ ~111M1~ ~0 ~ ~ ~ aN ~OR~Y~lt'~ ~M IDOil~ p~1MDtf.illAi~A ~ ~!0 IDOl~~'0't,
I rmd~r (b) at ~ar~raDh ~ 0~ sbaD not bt ~ent to ~ renh,~ tas~s and aMe~nt~ ~
; . .~insyranoe pi+emiam~, as t~rs c~s m~,y b~, whaa ttie ~ame beooene dns aud then the ~
at~all pqr to t~s um~oun! neoewr~ tio aute op t6s del~cienqi.
o~ors the
i, , dats whea pymant ad ach IPn~~?~~• ar inwranos P~rao4imas shall be due. Ii ~
1 at aa,y time tlrs a~ortsa~oe a6aU tender ~ ths nast~es in aooozdsnoe with the pravLi~as o! the note
aecured hereb~~ irillpyrment~ the et?ti~+s rep:+e~snted #h~et+eby. t6e mort~a~ee ahalt. in cwa-
~ the a~ooount o~ anch indebtedoe~s. credit to the account ai tlrs mort,~a~or aU~?m
enta made under
~ ~ha provi~iona a~ s~ ad p~sa~raph S hereof which t4e aw~rt~a~es has not beoome obl~ted to Wiy to the
~ _ I+~ederal Housia~ and aay baLuroe r~e~a~inin~fn ttie innds aocim~ulated uader the provisions
of (b) c~ asidP~~ S. Ii there sball bs a defantt un sqy oi the provLions o! thia morlkgaQe~re- ~
a ~~~~~v~r~d herebq or ii t~ ~rt~a~esaoq~i~s the property o er-
! _ ~ sp . at the t~e ot the oomme~n~at oi auch procecdu~a or at
' t~s tims the pro is ~herw ~atuire~t6e b~lanoe then in the iwida ~ocumulated under
? (6 ~ g~8
~ ~s a credit a~a~nd t6e amount~~a~~~ then remaiain~ unpaid under
~ ~d pro*p~~t any p~ym~ta which ahsil have made under (a) oi aaid par~raph.
~ 4. ZLat hs will p~ all tsse0. a~ee~o~eata. water rates. and other ~overnmeutal or municiPal ct?>u'He~.
f ~nes. o~' imPo~itiona. foar ~vhicl~ proviaion has not beeu made here~nbefore, and in deiault thereof the mor~ ~
~ la~ee mU? P~1Y ~ saune; and tlut he ~111x+omPtU? deliver the o~cisl reoeipts thereior t~ the mortgagee.
~ 6. That hs will permik c~+~mit, ar auSer no w~e; imps~ira~8n oar detsrioration ai ssid property, or - I
ao,~ t6ereo
i; an
d i
n t
he evea
t o
f t
6
e l
a
i
lnre o
i t
h
e- a ~
a?
r t~
o
r~ l c
e
ep t
he b
u
i
i
d
i n~
s o
a aaid premises ~
j. o b~ e~
e d a
n a
s
i
d p~ n~; or im
provam~ats t
h
e
r~
n. in g
o o d re
p
s~r, t
he mortgaeee n~?
~ inll ~pnuun!
~~e~ch
snd every~anch~
ipsy
~t s6aU ~edistel,y d~
i
d~snd a~haU be e~ecnr~ed ~
~ by the lien oi this mort~er. .
6. T'hat hs will p~,1? all snd r the c~osts, cl?araes. and e~cpenses, incln r~asonable law~re:'a
iees, and oosts oi abstracts af titl~~urred ~ paid at aqy ttme by the ~use oi the tailure '
° on the part o~ the mort~aQos PranPtty sud to perform the s~reemen~coveaants of s~id prom-
' isso~ry nots and thia and uid costa.~~ c~ar~es~ and ea~p~s~ stull be iaamediately due snd p~y-
able ~nd shall be securedn~ li~ a~ th~.s mort~a~e. - ~
• 4. ~at he wiU keep th~e improvanents now existin~ or heresfter ereeLed~an the mor~tga~ed P~Y. ~
~ insured asm~? be reqaired iran time to time by tbe aw nt~~ee~ loss by 8re and other haurds.
snd contin~cies in n~ch amoanta sad ~or a ~ch ~ may be required by mor1kgs~gee~
1 ~~p~ppro~ptbr. ~?I~ dn~ any premiuma on such iASUranoe for t of which provision has • _
na! be~n ma~ her-
einbefore. All iASnnnce ahsll be carrled in cma es approved by mortgaQee iud
~ be n
- t~e po8cies snd renew~ls thereo~i ahsU be held by mort~gee and ve at~a~ched thereto loes A4yabk
~ clansea in i~vor of and in loim aooeptable to the mortgaQee. In ev~?t oi Ioss he wiU glve immediste
I ~ noti+oe by mtil to mortgagee, and n~u~ m~? mate Proo~ oi bss if not msde pt+o~mptly by mortg~gor.
snd each inanranoe company conoerned her~y anthai~ aad directed to m~ke payment for auch
lws ai~,ectt,y to ,r~a~e in~e~d a~ to mortgagor and mo joint~y, and the insurance prooeeds, or
~ _ a~y thereoi,n~~oay be ~?pplied by mortga~ee at ite optlon~ai~er to the redndion of the indebtef nems
o y ?p
, y secare~ ~r to the rea~ntioa or repnir of thep perty dama~ed. In event oi forecloaure o th~s
~ or other triwster o! tltle to the mor~tSa~ed proPertrY i~? ~~W~ment of the indebtedness
~ e
sai~~~hereb ~ sll ~ht, tit1e, uid intereet oi the mortg+~gor in snd to sWi ursaoc policiea then in fon~e
shaIl paas to ~ puri~6~ser or ~rantee.
~ 8. T6at the mortQa~es nW?. st snY t~e Pendin~ a snit upon this morlt~~PP1Y to the oourt hsv- ,
{ in~ ~nriadic.tion thereoi ior the appointment oi a receiver, and s~tch conrt fortharith appoint a ~
~ reoeiivar ot the premisea oovered hereby ~11 snd . incindin~ all and r the incame, Pmfits.
reo
issues, and revennes fran whstever aonroe deriv~esch and ever~r a~ which. . t bein~ e~cpresslY underL
~ stood, is hereby mort~gaged as if ape~lly set fort6 and dercribed m the granbnS and habendum ctauses
~ herao~ snd snch reoeiver slull have aD the bro~d and eHective fnnctions and powers in anywiae
e~tn~s~ed by a oourt to a reoeiver, and such appointm~t s1uU be made by auch court as an sdmi#ed
S eqnit~ and a matter oi absolute ri~ht to snid mort`agee, and without reterenee to the adequacy or inad-
I equ~rcy of the vslue oi the property mostgsged ar to the aolvency or ins~lven~.y oi aaid mortgagor or the
~ detendanb. and that such renta. turoflb, income. iasnea, snd rev~tner ~hall be spplied by auch reoeiver
I to the lien oi this mort~ge and the practioe oi auch oourk In the event oi an,y default on the
I ~e mortgag~or her~euoder the mortgagor sgrees to pay to the mortgag~ee on demand aa a reason-
~ able manthly reatal for the~ prea~ses su? amount st le~st eqnivalent to one
twelith oi the aggregate
1 a~ the twelve mont6ly instsllmeata p~yable In the then eurrent ye~r pins the s~ctual amount of the annwl .
` tases, asses~ments, water rates~ and insnranee premiu~ana toar soch yeu no~ oovered by the aforesaid _
` m~thly p~yme~ts. . -
; 8. The martgagor further covensnta that ahould tbis mortgage snd t4e note secured hereby not be
~ eligible for insurance under the National H Act within $0 ~ays ' fro~n the date fiereoi
~ (written stat~ement o! any o~oer of t6e F~ Houaing Adminiatrat~on or authorized agent of the -
? ~ Federal Houeing Commisaioner dated aubeequent to the atore~aid time from the date of thia
~ j mortgage, declining to inanre said note snd this mortga~e, being deeaied canclusive proof of such in `
~eligibility), the mortgag~ee or the holder of the note may, at ita option, declare all suma aecured hereby
¢ : immediately due und payable.
~
; 10. That (a) in the event ot any breach~ of tfii~s mortgage or defsult on the part oi the mortgagor; or
; (b) in the event that any oi eaid s~ms af money herein referred to be not promptly and fnlly paid anth-
~ out demsnd or notice, or (e) in the event tliat each and every the stipulstione, agreementa, conditions,
, and covenants of aaid note nnd this mortgage. are not dubr, pronaptly, and fully performcd; thea in
' ~ either or a~y auch eveat, the saids~ te awn mentioned ia aaid note ~en remainia~ unpaid, with '
_ int~eat ~~xrned to thAt time, and sll mon~eya aecured hereby. shaU beoo~rie due and payxble forthwith,
~ ` or thereafter. A~ ~ Opt10D O~ ~1~ lQ0lt$~'~, as iuUy and oompletely aa ii sil oi tLe said sums of moneq
w?ere orginall~? atipulated to be psid an auch day,anyffiin~ u? a~id note or ia thia mortgag~e to the eontr~ry
~ notwithstxndmg; snd thereupon or theresfter. at the opbon of eaid nrort~ag~ee, wittwut notioe or demasd,
~ i suit at law or in equity. msy be proeecuted as ii aU moneya aecured hereby had matured prior to its inati-
_ . tution. The mortgagee msy foreclose this mo aa to the amount eo declar~d due andpayable, and
E ~ . tt~ ~a g~ ~u ~~o~a t~ ~t,~ty ,~a ~,~?~~e
aame together with eo~sta. e~cpen~ea, snd allowanc~a.
~ In caae o! p~?rtial forecbaure oi thia mortgage, the mortgaged premisea ahaU be eold aubjeet to the oon-
E i . tinuin~ Gen oi-this martgag~e !or the ~awunt oi the debt not then due and unpaid Ia auch case the pro- ~
K visiona of t~lus paragraPh ma?Y again be availed oi thereafter ix~om tiine to time by the mortgag~ee.
~ ~ 11. Tbst tlie mortQeg~or wiq give immed'ute notioe by mail to the mortQagee oi any conveyance,
~ tranafer, or chang~e o! ownersl?ip of the pr~miaes.
~ ~ 12 Tlut na waiver oi aa,y ooves~ant berein or oi the obli~ion aecur~ed hereby iha11 at sny tin~e
~ . there~iter be h~id to be a waiver oi the terms hereoi or oi the n~~te ~ecured h, y. n
~ , J~1 1U~ iki,t .
.
~ - - - - _ - _ . .