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Home My WebLink About1350 i ~"l~h,~l lu~ ~eiU prtm~~. c~~mm~t. sullet f1u ~~Stl. ~mpultm~n~. !I ~le[e•rtuta~u~n ~~f ti:+~~l ptoEx•tl~~ ur un~' p.+ri Ihi~n•.~t, :~nd ~n th~• i•~rnl ~~1 iht• I:~~liui• ~~I thr mutt~;a~;~~t lu krt~p thi• hu~id~n~;s un sa~d prt~m~sa•ti and thuse luhe ~•rrclyd ~,n .atd prrr.i~.~•., ut ~mpr~~~~•r.u•nt~ th~•mun. ?n K.xK! rep:iu. lhr m~~tl~;a~;~•r m:~~• maki~ xuch r~•~k+irs :~s in ilti :1~srrrt~on U ma~' di•rm nrcrs~:u~' fur thr pr~~~K~t ptt•~rt~•:~tu~n th~•trul. .u~d th~• f?ill amuunt ~~i ~•ach .~nd ev~•~y ~uch p.~~r.u•nl ~h.~ll br immi~ciu~t~•l~• du~~ and p:~~abli•. :~nd ~h:~ll hi• sccuted b~• Ihc I~tvt ul ~h~ti mutt~;~K~~. h~Ch.it hr ~c~ll .ill :~nd s~nt;ul:+t lhr ~ u~ls, ch:~e~;~•ti, und c•xpentii~~. ~ncl?~d~n~; n•.~s~inabl~~ I.~w~•e•r'` (ers. ue~1 .•r.t. ~~t ab.trach uf t~tlr. ~ncurrrd ~,t patd .~t .~n~- t~me• h~•thi~ m.utKagrr.be~cause• u( th~~ f.ulun• un ihe p:ut u( thr m.ut~;,~~;.~r prumptl~• :+nd (uli~• t~~ ~xrfu~m thc~ .+Km~~mrnt~ and c.n~enants uf sa~d prum~ss~x~~ nul~• .ind this murt ~;atic•. .~nd .aid cusl., i ha~~;~~~, and ex{x•ns~•~ sfiall b~• ~mm~•d~atc•1~• dut~ and p:~~•able and sh:ill be tircured b~~ thr l~~•n ~~t lh~~ cuutt~;a~;e•. ; Th:~t he w•~I1 k~•rp thc~ unpr.~~~rmrnt. nu~~• ~•x~stinK un c~ reafter erectecf un Ihc mu~t~;:~Ked p~uperty. ~nsunYl ma~ bc~ requ~n~d frum t~mr to tim~• b~ Ih~• m.~tt~;:+~;~•~• aK.~~nst ios~ b~• (u~• :+nd other hatards, c.~sualties, ~nd conl~n- ~;c•nrir. in ~uch amaunts and tur su~•h Ex•n~x1~ a~ ma~• be• requ~red b~• mortKuKee~, ~+nd v?~ll pa~• promptl~•, when due, .im pr.•miums ..n such ~n~urance fur p.+}~ment o( Nh~ch pruvi~~~n h.~ti nut becn made here~nhetore. AU ~nsur:~nc~• sh.~ll be ~•arned ~n romp~nir~ ;~ppru~•ed b~• mort~a~;ee and the polic?~~~ and renew•als ihemof ~h.ill bF held by mnri- ~;:+~;rc~ and h;~~e att.~chrd theret.. lu.s payabl~~ clauses ~n f.i~•.tir uf and ~n f~~rm :~ccept.~ble to ihc mortKaKee. In r~c•nt uf l.~.s he H•~Il K~~•e tmmedtale not~ce• b~~ mail to murt~;aK~•~•. ~nd murt~;a~~•e~ may make ptoof uf luss ~f nut i;~:+dr ~~rumptl~~ h~ mortRa~;or, and c•ach ~n~uranci~ c~~mpan~~ ccmcc~rned ~s heteb~• authorized and dtre~c•tecl te~ make pa~mrnt fu~ .uch I.~.s directl~• lo mortKaKee ~nste~ad of to murtgaKur and mortga~ee jointl~~, and the ~nsurance pro- cc>~•~1s, ur an~• pa~1 thereo(, ma~~ be applit•d b~• mutiKak~~e at ~t~ upt~on eithrr to the rrduct~on u( ihr ~ndebtedness herrb~• ~~curc~d ur to the restoratiun ot repa~r of the properh• damagecl In e~•ent of (ureclosure uf th~s murt~a~e c~r .~ther tr.+nsfrr ~i( t~tle to the mortKa~ed propert~~ ~n ext~n~uishment of ihe ~ndebtednes~ ~ecurcd he~eby, all nKht, titir. and intere~~t of the mortgagor in and to an~~ insurance polic~e~ then in force ~hall p:+ss to the purchuser ur ~;tant c~r K That the• murtg~+Kee may, at any hme prnd~nK a suit uEwn th~s mottgage, appl~• to ihe cour! hav~nK jurisdic- ti~~n thereol tor the appu?ntment oi a rece~~•er, and such cuurt shall fotthwith appu~nt a rere~~•er of the prem~ses cu~•rrrd hereb~ .+U and s~nKular, ~ncludink all ~ind stnRular the ~ncome, profits, issues, and re~~enues from whatever ~.~urr~~ der~~~e•d. each :~nd e•~•ery ot which. ~t be~nR expressl~• understood, is hereby mortga~ed as if speci[~cally set t~~~th ,+n~? d~•~cnbed in the grant~ng and habendum clauses hereot, and such receiver shall ha~•e all the broad and r•t~c•rt~~c funct~uns and por~ers in am•w~~se en!~usted b~• a court to a receiver, and such appointment shall be made h~ :uch c~•~tt as an ade~itted tqu~ty and a matter o[ absolute ri~ht to said mortgagee, and without reference to the ,,~?rqu,~c~ or inadequ:+c~• u[ the t•aiue o( the pruprrh• mortgaged or to ihe sol~~ency or ~nsoivency of said mortga~or thc• dc•lendents, and that ~uch rents, profits, ?ncome, issut•s, and revenues shall be applit~cl by such receiver ~,~rd~nK to the lien of thi~ mott~age and the practu-e oi such court. ln the e~•ent of an~~ default on the pa~t ot t6e :~:~~rtR;~~;ur herrunder, the mortgagor agree~ t~ pa~• ta the mortgagee on demand as a~easonable munthi~• rental tor t'i~• E~rem~ses an amount at least equ~~•alent to one-twelfth (I 12) oi the aggreKate of the twelve monthlyinstall- ^~~•nts p~+c.+ble in the then current year plus the actual amount of the annual ta+xes, assessments, u~ater rates, and in~urance prc~m~ums for ~urh ~•c•ar not co~•ereci b~• the a(oresaid monthh• payments. That ~,r in the e~~ent uf am• bre.ich of this mort~aKe or default on the part of the mortgagor, or in the e~c~nt that .+m of said sucrts ot m~~ne~~ here~n referred to be not promptly and Eullp paid w~thout demand or notice. ~~r in the e~~ent that each and ecer} the sUputat~ons, ~greements, conditions. and covenants of said note and !hi~ mi~rtKaRe. are not dul~•, promptl~•, and [ull~• performed; then in either or any such e~~eM, the said aggregate ~ur~ mentioned in c:,ld note then rema~n~ng unpa~d, With interest accrued to that time, and all moneys secured hemh~ .~hatl becume due and pa~~able forthwith, or thereafter, at the option of sa~d mortgagee, as (ully and com- ple:eit~ as ~f all of the sa~d sums of mo~e~~ were originall}• stipulated to be paid on such day, an~•thing ~n said nr~te or ~n thic mur;~~~~e to the contrart• notwithstand~ng; and thereupon or thereafter, at the option of said mcxtga- ~ee. u•tthuut not~ce t•r demand, su~t at lau• or ~n equit}~, R~ay be prosecuted as if all moneys secured hereby had ` ~^~tured prsor t.~ its ?nshtutwn. The mortgagee may foreclose this mottgage, as to ihe amount so declared due and pa~able. and ihe said premises shall be sold, to satisfy and pay~ the same together with costs, expenses.and allow- ~ .+nces. In case of partial foreclosure of ih~s mortgage, the mortgaged premises shall be sold subject to the con- ~ tinu~ng l~en of th~s morigage (or the amount of the debt not then due and unpaid. In such case the provisions uf ' thi~ paraRraph mat again be a~•ailed uf thereafter from time to t~me by the mortgagee. 3 ~ li~ That the mortgagor u•~ll gi~~e ~mmed~ate notice b}• mai( to the mortgagee of any com~eyance, transfe~, or ~ chan~e of ow•nerch~p of the premises. e 11 That no k•aicer of an~• covenant here~n or of the obligation secured hereby shall at any tirt~e thereafter be ~ held ta he a u•ai~~er of the terms hereof or of the note secured heceby_ 1~ That if the mortgagor default in an~• of the cocenants or agreements contained here~n, or in said note, then ~ the murtgagee ma~• perform the same. and ail expend~tu~es (includ~ng reasonable attorney's fees) made by the ~ ~:ortga~ee ~n so doing shall draw• lnterest at the rate set focth in the note secured hereby, and shall be cepayable ; ~ :r^med~atet~~ and w•rthout demand bt the mortgagor to the mortgagee, and, together with interest and costs accruing H thereon. shall be secu~ed b}• this mortgage. ~ 13. that the mailing of a µ•ntten not~ce or demandaddressed to the ouner of record of the mr~rtgaged premises, :>r directed to the sa~d ou•ner at the last address actuall}• furn~shed to the mortgagee, or directed to saidowner at ~aid mortg:~ged premises, and mailed b}~ the United States me~ls, shall be sufficient notice and demand in any ~ c~se ans~ng under th~s instrument and requ~red by the provisions hereof or by law. ~ 1J The mortgagor further covenants that shouid this mortga e and the note secured hereb~• not be eligible f~~r ir.surance under the tiational Nousing Act w•rthin ~i~• Q~t~a from the date hereof (written statement _ „f ..nc off~cer of the Department of Nous~ng and Urban Development ot author~zed agent of the Secretaty of Hous- :`3 s^g c,nd Lrban De~~elupment dated subsequent to the y~ time ftom the date o( th~s mortgage. dec!~ning to ~nsure said note and th~s mortgage, being deem~~A canclusive proof of such ineligibility), the mortga- - Ree or the holder of the note ma}•, at its option, declare all sums secured hereby immed~ately due and payeble. - 7~he cocenants here~n conta~ned shall bind, and the benefits ~nd advantages shall inure to, the respective - ne~:s, ext•cutors, adm~n~strators, successors, and assigns o[ the parties hereto. N'hene~~er used, the s~ngular num- = hc~r sha:! ~ncIude the p2ural, thr plural the stngular, and the use of an~• gender shalt inc(ude all genders. 'ia f' =z i? as = g~~~191 1348 ~ _ F ; ~ _ ~ _ ~ - N~