HomeMy WebLinkAbout2592 4 ? - . . ~i . . ? .~_.~~f.L~ r+~lw~w~'~a+T
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~ud ~ pe~nimo~. as tlu we m~r ach ea~oero~ shaU bs credited b~ the ~ort~a~ee on wb~equent
p~nl~ ~o b~ aucle bp? ~ mpstia~or.~i. how~vrr. th~ mattht~ p~t?n~b made b7 !h~ a~o~rt~oa~
' oa,d~;r (b) c[ p~arasraph = preoedi~ ~luII nat b~ a~t to p~? re~b,~ t~sxe~ snd aaie~aonenb
~ and insaranoe~ia~ ss tLe ca~s m~Ur ber whtm tl~ wns ~beoom~. d
i and payablq then the
a
b s
1
Ip~ t
o t
h
e a
a
y ainount n
e o e w
r~ b~ maice o
p the d e
d
c
i
e
n
q
y, on or before the
~ p~ymM
t o~ a~ch jpb~ic+~b. taaes, a~seesmes~b. ar inwraros Prerniunu shaU be due. I!
' ot aq,T ti~ne the ~r~a~ar shal! te~d~er tio the mort~a,~es in aooasdanoe w~ith the prQVisiau oi the not~
~ iecured hareby. ibtlp~ym~
t a? the ~ti~+a indeb~edae~s repreiented thereb~. the most~a~es ahsU. in e~ona-
p~tia~ the amouat od snch indebtiednass,~ credit to the acoount at the aU ea4 made under
the provisions o~ 4) ~d prra~raph S lrereoi which the n~a?ry~s~es has aot o~ted to p~y to the
. gede~i goudu~ anii ao~r balanoe ri~a~iinin~ in tbe iunds aocumnlated under the provisions ~
~ ~ a~ (b) af sai~d 8. If thera sball be a deianlt nnd~ ~y? a~ the provLions oi t63s mo ~a~e re-
. ad~n~ ia a p~~
~c~ the pretnises oovered hereby or ii the n~ort~~ee~o qnires tl?e propeictY ot~er- ,
wLe aiter dei~wlt. the mo ~ee s6aD upply. at the t~me ai the t o! auch p or at
the tPima the prope~r~ i~ atluu~w3se aoquired. tbe balaace th~? in the i~nds saumula . under
. : tb ot Pn x as a credit aQainst tlre aaoount~i~ jp~~pal then renutinin~ unpaid under
~ ~d ~~~1 ~~~~wt ~ny p~ta which shall have b~ nude nnder (a) oi satd pu~gr~Ph.
4. Thst he wIU p~ all tues, aasea~ao~ent~, wstear rates. and other ~overame~ntal ar m~nicipAl chargee.
llQes, or impaitions, io~r which provisioa has nat been made hereinbefare. and in default thereoi the mort~
~ ~11 P+1Y the aame; and thst he aiQ pramptb? deliver the o~cisl s~ec~ip~s therefor to the mortga~ee.
- 6. That he will pe:mit, oomu~il, or suSer no aast~ ~np~irn~ent, or deterlorat~on oi aaid praperty or
: ~4T ~~i; and in the ~?t ot the iuilura oi !ho mart~i~oor to l~eep the b on e~iu pre~cuses
~ = and to be et+ected o~ asid p~re~nisea, or improvsmeats the:+eon. in ~ood rep~ir~~e mortBaB~ ~Y
, ibD amount
ot~~ie~ch
snd e~~s~ch
pa~yrui~t aLsU ~ediafsl~ d~
a
d pa,~~and ahaU be ~secured
. ; a
~ bythe lien a~t6is:nort~a~e. _
~ •
, 6. Thst lm ~riU psy all and s~in~ eost~s. chsr~ei, and ezPense~. in~ludiag reawnable Isw~rer's `
, ~,and cab of abstracta oi title~ ar p~id ~n~y time by the naort~~ee because oi the f~ulure
an !he p~rt a! tLe mort,~Bor promptiy snd ta perfonn the a~reenneats and covenants oi said prnm-
~ itiaaic~ nots and thia nKU~~ a~ aaid oosts.~~c~anes, aAd ezpenses e~halt be immedtately due and pa~y
. ab~s and sbsU be eecured by tiez~ of thts mort~~g+e.
~ Z. T6at he ~vill the improvemenb n~ow e~tin~ o~ herea~ber er~ecte~d on the mort~~ed P~Y.
~ fawred asmay be re~i~ed irom time to time by the mo loss by 8re and other hasar~s~
~ . capultiea, a
a
d ean
t
i
a~
e~
c
ies i
n a
n c
h an~oun
b an
d tor a~
~ma,y b e reqn
i r
e
d by mo
r
l t
g
a
g
e~ .
a~at be~e~a
~~w~~. au~e~ a
n,
y p
r
e
minms on such insara~~oe tor t o~ which p
r
ovision h
a s ~
~.~~-1. • A
U insurance ahsU be carried in oom es sppr~ved by m~ ~
- ths poiides and rsnewais thereot ahsIl be he~i by mortg~ee and ~
ed thereto psy a
dsnses in iavor of at?.d in iorm aooept~?ble to the martgs~es. In e~vent oi loas he will glve inwediate
natics~y msil to mort,~ee, and mortga,~ee msU? mate proof of bss ii not made promptly bp mortgag~or,
and e~d? in~uranix ewnpany eoncerned ia hereby authorised ind directed to mslce payme»t for snch
~ joss directiy to nuirtgs~ee iast~d oi tu mortgagor snd mort~e jointly, and the inauran~ce proceeda, or
~ thereoi, m~? be applied by mortga,~ee at ib option ei er to the reduct~on oi the indebtedness
~ aecux+ed or to the resLora
t ion or re
p
a
i
r o
i t
h
ep p e
r t
y d a
m a~
e d. Lt event o! foreclaeure oi t h i
a
mort~a~+e or other triwsfer of title to the marlt~;aaed propert~r ia ' ent oi the indebtedneas
. h
e
t
bp, a
l
lp~~f~ht, ti t o
i t
he mort,gag~or i
n s
n
d t
o aqy poli
c
iea t
hen i n foros
tbe e~aaer
8. T6~t the mort,~ages m~Y. st aW? time Pe~dini a suit npon thia ma ~g~e. apply to t6e court hsv-
. iat urLdiction thereoi ior ths appQialmeat oi a seoeiver. and auch oourt~~ siull iorthwith appaint a.
. . ~ve~ ad the premises eo~vered hereb~ ~1t and ' . inclndins aD and the inoame, AroRt4
~ i~ and revennes trom whatever souroe derlv~e~ad? and o~ whic6,~t
~beiz?S exPreeslY under-
. rtood, 3~ hereby awrtg~ged ~a if ap~
8cally set iorth sad descri'wi~ the ~rantin~ and habendmn clawses '
• h~reo! snd such receiver a6aU I ve a11 the broad and eHectiva innctiwu ~nd powera in anywise
i. . eatrns~ed by s caurt to a recsiver. and sach sppointment sbaU be made by auch oourt as an admitted
erea e
' - aNity' snd a mstter of absolute ri~ht to asid morts~ee. and withont reterea~e to the ~dequ~r or insd-
; eQw~y od the `nlue oi the property mort,~aged or to the aolven~y or insolvena.y of ssid rrwrt~g~nr or the
+ defendsnb. and tlut auch re~?ts. Pr~ts. ine,ome. issaes. and rev~enoes shail bs applicd by-sndi rec~eiver
' ' to the lien oi fhis mo~ge and the pnttioe ot wch eoart In the event +o~ sqy default on the
; ~ mc~rtgsgar hereundert tl~ martga~g~a~r~grees to p~y to the on dmmand as s reason- •
~ ab~e mo~nth~? ra~ntal for the an amount at le~st ~qnivale~t to one-~ ('Sis) of t6e a~qregate
a~ the twelve montl~r instsl~p~rable in the then eurrent yesr plna the a~p~1 xmoant ot the annwl
; tu ~ts. water rates~ and Insuranoe pt~emiums fo~ w~h yesr not oover+ed by the aforeaaid
inon~r PAYmeab.
' 9. The mortgag~or forther ~ovennata tbat shoiild this ~rt~ge sod ti~ note sec~red hereby n~t be
etigible iar insuraace nnder the National H Act within 30 daq~ iro~n the date hereo! .
a
! (written atatement of u~r ofBoer oi the F~~ HousinQ Adminiatration or anthorized agent of the
~ . , Federsl Houaing Commisaioner dated aubaequent to the a~Eore~aid ~ iro~ the date of this '
; mortgsge, declinin~ to inaure aaid note and this ~rtgage, bein~- deem~ conclusive proof oi anch in-
eligibility), the mortgsg~ee or the holder o! the note may. at ita option, declAre all aums ~ecured hereby
. immediatsly due snd payable.
10. That (a) in tLe event ot aaq breach oi fihis mo~tg~ge or default on the psrt oi the mo~r, or
, ~ (b) in the event that any o1 asid sums of money herein eferred to be not promptly and l1~11~? pai rrith-
. ont demand or notice, or (c) in the event ~at e~ch sad every t6e ati tions, agree~aents, coaditi~ns,
i aad oovenaats oi ssid note and thia mort~e, are not d~r, pro~n ,~nd lully perioraaed; tha~n in
! either or ~y auch event, the asida~re~t
ts snm mentiot~ in esi note then rem~ining unpu with
~ inte~reat aocrued to ttwt titae, and all moneYa secured hereby, ah~U beoome due and payabte i~with,
E or theresfter, at the option of said mortgag~ee. ss fully aad co~npletel~? ~u if all o! the said aums oi money
~ were orQiw~il~? atipulated to be piid oa suc6 dsy,aoy thing in said note or in this mortgage to the eoa~~
' notwithstsndwg; and thereupon or thereafter, st the optwn of aaid mortgagee, without notice or
auit at law or in equity. n~?y be prosecuted aa if all moneya secnred hereby had mstured prlor to its insti- ~
' tution T6e mortgsgee may toreclose thjs mort~e, as to the amount su declared due and p~yabl~ and
th~e asid premiaee shall be aold to ast~isfy and pa~y e sanie together ~vith oosts. expenaes, snd allowanc~. ~
! In case of partial forecbsure of~thia n~rtgage, the mortga~ed premises shall be sold subject to the eon-
' tinnin~ li~ o# this nartgage !or the amount oi the debt not t3ren dne and unpaid. In wch ca8e th~ pro-
, viaicas of this paragiytph msy a~sin be availed of ther~tter iram time to time by the inortgs~ee.
; ~ il. Thst the mortgag~or qriq give immediate notice by mail to the mortgag~ee of a~? eonveyaao~
~ transfer. or chsn~e at ownerahip of the Qremises.
~ ~ 18. Tl~at no waiver o! any oovaiant her~in or o~ the ob1i~?at~on aeeured hereby aha~l st any t~s
~ the~+e~it~e tie held to be s wafver ot the terms her+eot or oi ths note eecured h~+eb~.p R: ~02 ~.A f,E~~~ ~
80~f
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