HomeMy WebLinkAbout2944 S. ~T1~at 1» wiq pKwit. cas~it. ~ suEtK no w~stt. i~p~irwMt. a~ d~teciontia~ at s~id P~O~Ky a~1? P~
thewa~; ~ad tn ti?~ ~vtnt at th~ t~liue~ d ~M. ~oet~o~ to kNp tM ~lWiap a~ aaW pe~~ists ~~d tbos~ tob~
:cect~d on ~ak pr~wis~s~ or iwprovew~~ts tl~na~. i~ ~ood c~p~i~. tM watp~ a~r w~k~ srch c~p~in a M ib
discntion it aNy d~~t nacsss~cy t~ tb~ pcop~~ ~es~v~tlo~ th~nat. •ad tbt tull a~owt d~~ad ~wey snch
p.ya~aat sU.U b~ iN.d;ac•tr du~ •ad p.y.bts. aad sbaU be secread by tM li~e d ebis no~t~.p.
6. Th~t b~ a~lt p~y •11 aad sin~ula~ t?e casts. ch~~~es. ~~d ~xpei+s~a. iactudis~ ~soaabl~ la~ry~'a te~s,
•ael costa ot abstncts af titbe. loc~yr~d a p~id at aay tiee by Uk watp~ .becaus~ of th~ failue~ on tbe p~~t o[
the a~o~ta~a~ ptowptly ~nd tuUy to peefaa tb~ aaeeweaRt aod covNaats oE sa~id 'peoaissory note ~nd this mort-
p~e. asd said costs. ch~n~s. ~ad eupenses slull b~ ta~oedLMly due ~ed p~y~ble arid sball be secured by the
ltee at this aa~tt~~e.
7. 1'IMt he will keep tAe improvemeqts now esjstia~ a h~ceaft~t ecected oa tbe moct~tad pcopeKy. insurod as
en~y be raqulred froo tlme to tia~e by tbe aatptee api~c toss by Ftce .ad och.r l~..s.cas. caswltfes. aad coatin-
~eaeies ia sucM aaounts aad ta such pcciods ~s o~y b~ cpuicsd by aatp~ae. ~od wiU p~y p~ooptly. aben dne.
aay pcealuos oa sneb ins~uance Eo~ p~ymeat of which pcovialoa i~s aot ba~a asade beceinbeEae. All insurance
sbaQ be cacried in caop~aies ~pprowd by matpgee and the policies aad renew~is thereoE alall be held by awei-
gagee and hava attacbed thereto loss payabte cl~uses ia fava of ~nd ia fam ~ccept~ble to the mat~pgee. In
eveat of loss he will sive immediate ootice by ~wil to aat~pgee, aed aortQa~ee owy ~loe pcoof of loss if sot
a~de promptly by matg,~ea. and each insurance cobp~ny ceocemed is hereby anth~xised aad dtrected to make
p~Ymeat Eor snch loss dieectly to a~ozt~agee instead of to moct~peo~ aad uatPgee )Qintly, and the ias~nce pro- •
ceeds, or aay p~rt theeeof. aay be applied by mo~tgagec at its optioa eithec to the redaction of the iadcbtedness . t
bereby secured or to the restontioa a repaic af the propertq damaQed, In event af forecle~ure of tbis nart~age or
other traasfec af titk to the moct~aged propeity ie extfingniahmeat at tbe itdebtedness secured hereby. all right.
titie. and interest of the mortpga ia aad to any insaraace policies then ia force shall p~~s to tbe pnrcbeser a
grantee. .
8. 'That the mortg~gee mey. at aay time pendia~ a auit upon this mo~tgage~ apply to the conrt haviae jurisdic-
tioa thereoE fo~ the appointmeM af a~eceiver. and soch caut shaU foethaith appoint a receiver af tbe pcemises
covered bet~eby all aad a}ogular, inclodiag all ond aiagular the iacooe, pccEita. issues, and reveanes fe+om ahatever
sonrce derived, each wd every of whicb. it beiag expeessly m~derstood, ia hereby mwt~ged as if speciEic~lly aet
foeth and descdbed ia the g~aating and babeodum~uses hered. ~nd sucb receivec alwll lwve all tbe bro~d snd .
effective fuactioas and poarers in aaywiae entrust by a court to a receivec~ and snch appoints~eat shall be ade
by snch caut as an adnitted equity and a metter oE absolnte cight to s~id maKgagee. and Mritbout retecence to the
adeqntcy or iaadequacy ot the vatue of tbe pwpeety moctg~ged or to the solvency or i~olveacy of said matgpga
or the defeadems. and tlwt snc6 rents. prafits. income, issnes, and revennes sbell be applied by snch receiver
accozding to the lien of this oortgage. aud tbe practice of such couet. Io the eveat of any defautt on the p4rt oE the
matgago~ hereuodec. tbe matgagoc agrees to poy to the mortgagee aa deoand ~s a ce~soasble moatbly rent~I for
the premises an amount at least eq~ivalent to oae-twelEth (1/12) d the ~~egpte af the twelve monthty instell- ~
ments payable in the thea curreat year plus tbt actual amonnt of the ananal taxes. assessrneota. w~tee rates. and
insuraace pceminms foz such year nd covered by the ~foc~said awnthly p~yments. ~
9. T6at (o) ia the event of any bceach of this mo~tgage oc detautt on tlre patt of the mort~agac, ~{6) in the
event that ~ny of aaid snms of money I~ereia reterred to be not promptly aad fuUy pid witHout demead or notice,
oc (c) in tbe eve~ that each end every the stipulatioas. ~g~~oeats. cooditioos, and coveaoata of said aote and
this moctgage. Qce nd duly. promptly. aad fnlly- pedoraed; then fn either or any sucb eveut, the said aagre~ste
I sum mentioued in said aote tben cemaioing uopaid. pitL iaterest ~ocrued to that tiiae. ~nd all ma~eys secnred
herebq. sbatl becane dne and payabk focth~vith.~ er thercoRet, at tbe option of s~id ~atgagee, as Eully and coio-
pletely a~ if all of the said sums of aoney were ocigi~wUy stipnlated to be paid oa snch day. anytbiag in said
cwte oc in this ~atgag~e to the con~rary notwit6standing; and thereupoa a theeesftec, at tbe optia~ ef said matg~-
gee, ~rithout aatice or denwnd. snit at law or in equity, may be prosecuted as ~f oll mooeqs secured 6ereby 6ad ~
matured prior to its institutioo. Tfie mortgpgee moy foreclose thia matgp`e. es to the amom~t so declated due and
payable. ond the said preauses shall be sold to satiafy aad pay t6e same together with coate, expenses,end a11aw-
aoces. In case of porti~l faecloaure of this morta,age, the martg,aged prenusea sb~ll be sold anbject to t6e con-
tiauias liea oE tbis mortgage foc the amount af tLe. debt not then due eod unpaid. Ia aucb case t1~e provisions of
this ptragraph awy again be nr~Yied af tbereafter irow time to tia~e by the mortgasee.
10. That tLe mortga~a wlll give immediate notice by mail to the aa~tgagee of any coovey~nce. troasfer. oc
change of o~vnetsbip ei tbe peemites.
11. That no ~veiver of any coveaant ~rein or of the oblig~tioo secuced hereby shail at any time thereafter be
heW to be a waiver of the terms hereaf or of tbe note secured hereby: '
12. T6at if the moetg;agor defaalt in. any of tlie covenaats o~ agreements contained beceia, a ia sajd eate, thea ~
the mortgagee may pedorm t6e sas¢, and alt expeaditntea (i~lading reasonable ottaney'~ fees) made by the
morteagee in so doin` shall drap iatereat at the rate set fat6 in •he aote secnred bee~eby, and shall be repoyable ~
imwediately and ~rithout deawad by tbe matgagor to the mortgagec, ar~. teget6er wit6 interest and costa accruin~ ;
thereoa, shaU be secuied by thia mortgoge. ~
13. tbat the m~il~ng of a written notice a denandaddressed to the ownec oE recocd of the ~uortgagod premises, ~
or directed to.the said awner at the laat address ~ctuaily furnisbed to the icatgagce, oe directed to saWowner at
~aid aort6pg~ed psemises, and a~iled by the United States moils, sl~ll be snfficieat aaioe and de~nd in any
~ case atisiag under this instrwneat aud requlred by the pcovisioas hereaf ot by law.
14. The mort~sgor fortfier coveaants tbat sbonld this a~t ~nd t6e note secorea b~eby aot be eli~ble
~n
Eor inswsace onder t6e Natiawl Honsing Act ~ritbin from ti~e date hereaf (writben st~tesent
d any oEficer af tLe Department cf Housia~ ~u! Urbon Devel t o~ adbalaed sg~eat of tbe Secretary aE Hous-
ing and Urban Develop~eat dated subsequent to the • time finn the date af tbis matpse.
declining to iesure said ade aad thls sartga~e. bela~ dee~ed caoclnsiea pcoof aE snch ineli~ibility). th~ ooctga-
gee ar tbe holdec af tbe oote mey, at its optiae~, declar~se ~II snss ~ned bereby ioaedLtely doe and p~yable.
Tbe covenants bereia coataiaed shal! bisd. end tbe beneEIb asd advaata~jes sball ioore to, tbe aespective •
heirs. e~cecotas, adsiaistrators, snocessacs. aad assi~ns af tLe partles bereto. wbenev~ used, tbe sie~nlor aws-
ber shall include tLe ptnnl. the plaral the sin`ular. ~~d tbe we of any ~eoder sl~11 include all ~endan.
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