HomeMy WebLinkAbout1362 ~ "i~h.~t hr ~U {~~•tnut. ~ nn~m~t, u~ .utt~•r ni~ ~ra~1i~, un~~:~~nn~•nt, ur ~1~te~rwr.~it~,n ~~t ti:~u! ptn~H•rl~• ur .~n~' ~~att
lhrrrrl. .+nd ~n tlir ~•~rnl ~~1 thr 1:?ilutt• .~C fhi~ rn~~t1E;.~~;ut tu krr~~ Iht• bu~ld~:~~s i~n s.~ul prrm~tirs an~l lhuse l~iht•
~•rr~•trd „n tia~d F+~t•nu.r.. r,r imp„~~~•m~•nt~ thr~run. ~n ~;u~x1 ti•p.~~r. Ihr m~~tt~;:~~;t•i• ma~• muk~• ~uch ~~•~r~?r~ ~n ~tx
di.rn•I~~.n ~1 ma~' dt•~•m nrcr~~.~~~ t~~t lh~• ~~ruE~~~r pm`i~r~~ulwn thi•ti•.~1. and th~• full am~~unt ui ~•.~i•h an~l c•~~•r~ ~uch
p.~~uirni sh.~il bt• ?mnu~~ii.~irl~ dur .~nd p.~~:~hl~•. .~nd ~hall b~~ se•cuteYi b~ thv lu•ti ~~I th~x tnu~l~;.~~,t.
h~ft~.,t h~~ ~eill .il! .ued .~n~;ut.u thr cu.is, i•ha~~;r~, and ~•ap~•n~rs, tn~ ludin~ tr.~ti~m:~bl~~ (uw~~r~'~ f~•e~,
.~n~i ~~,.t. ~~f .ihstr:ict. t~tl~~. ~ni u~n~d ~~r p:~~d at :m~' t~me bt'Ih~~ murt~;:~Ke•i~.tx•~;u~~~• ih~~ (s~ilun• un th~• ~w~rt
Ihr ,,,,~rtF;.~~~.,r pr.~mE~tl~ .~ml fi~ll~ lu EK•~lur~t~ ttic~ :~~;t~•~~m~•ntx .~nd cu~•~~n:~nt~ uf s:ud pr~~ri~~~ur~' nuti• :~nd Il~~` murt-
~;:~~;c•. .~nd ~.~td ~-~,.t~, ~ h.~t~;r., .~tid i•xFx•n~t•ti ~?t:~ll b~• ~mm~•di.~t~•I~' dur .ind E~:~~~abl~~ :~nd ~lu~Il b~• ~ri~ut~•d h~• lh~•
l~i•n rt tht~ m.,tt~.~~~•.
_.l~lr.~t tir u•~I1 k~•r~, th~~ uu~~~u~r~nrnt. iiu~~ e~xtstin~~ ut h~~~rafter Pr~cled ~m the• murt~.~K~•d ptuEx•rt~•, intiure•d ~~s
r.;.~~ h~~ re~~w~~~d Irom ti:nr t~, t~m~• b~ th~• mrttF;:~~;~•r :e~;a~mt luss h~ fire~ .~nd ~,ih~•e hazatds, casualt~es, and cunt~n-
~;~~n~ ~r. tn ~urh :~m~,unt~ .~nd tu~ ~u~~h p~~r~~xl~ :~x m.~~' b~• requ~tr~1 h~• murlKa~;e~•, .ntd w~~ll pay~ prumptl~•. w~ht•n dur.
.~m E~~~•nuun+. ~~n ~uch ~n.ur.+nce• lur E*:~~'m~•nl ~~I w•h~ch ptu~•~~u~n h,~s n~~t be•e~n madt~ hrreinhe~f~~re•. Al) ~n~urance•
.h,iil hi~ c.+rnr~1 in r~~rnp.~nu•~ .+pti~~u~rd b~ m~~rt~a~;ei~ :~nii ihe• pulu•~rc an~! r~~neaalti then•uf tihali be h~•td b~• murt-
~~.~~;~•e• .~nd h:~cr :~ttai~hrd Ihrtrte~ lu~s p:+~.~bli~ cl.+us~•~ tn I.~~vx uf :~nd tn (otm ar~•e~p~;~ble~ tu thr mutlKaKe~t• In
r~ri~t ;~l l.~s. hr ~~~ll ~;~~t~ ~r,i~~e~i~iati• nulicr h~• m:~il ti~ mu~t~;aKr~•. :ind m~~rt~;a~~t•r ma~• make pr~x~i ul ic~tit nut
~::.~cle• ~~r~~m~~t!~ he murt};a~;ur. .~nd r:~rh ~nsur.~ne•~• c~~inE~an~ cunce•r~ir~l i. hen~bt' :~uthiaiz~•d and due~rt~Yl tu make•
~a~~~ne~nt t~x ~ui-h 1.,~. directl~ tu m.~tt~;.+~;c•e• in~tc•:id ~~f to muttKa~;~x and mor?Kaker µ~~ntly. and the insurince~ ptu
rre~d., ur .~n~ pa~t thi•cruf, ma~• b~• .~ppl~e•d b~• mortK:i~;e~~ at tt~ ~~pt~un rtther to !he reduct~un ~~f Ihe ~ndrbt~~dnc~ss
hrre•t•~• .e•rurt•d ~~i tu th~• rr.ti~raUun ot n•pait ~~f the pr~~peri~• damaK~Y! in e~•rnl uf fureclusure o( this murtKake or
.~th~~r transie•r uf t~tle t~. thr murtKa~ed pr.~i~ert~ in ~~xtuiKu~shmrnt uf the ~nde•btedne•ss s~~c•urc•d hrrrfi~•, ali nRhl,
t~tlc•, ai~d ~ntc~re•ct at thr m~.rtKaK.u ~n and tu ~~nr ~nsuran~•e pul~c~rs then ~n furcc• shall pass to the 4~urchas~~r ex
~,tante~i~
R That th~- murt~;,~~;c~e• ma~~, at ant• t~me Fx•nd~nK a su~t uEwn lh„ murl~;aKr, appl~ !u the court h.~~•~nK ~ur~sd~c-
t~rn there~.~f [ur the ;~ppu~ntment uf a rccen•er, and ~uch court shall forthw•rth appoinl n•<<~n•c~t of the prc~m~ses
~.~~rre•d her~b~ all.~nd stn~;uiar, tnclud~n~;.ill and ~tnKulat the ~ncome, prof~ts, ~ssue~, and re~~•c•nu~•s frum u•hatever
..~urr~~ drn~•ed. each and e~e~r~• ~if w~h~ch. it be~n~; expressl~• under~t~. ~s hrreby motigaKed ~s ~f s~c~[~cally st~t
i~~rth .~n:i de•.rntx~d ~n the Rr.intink and h~+bendum clauses herruf, end such recei~•et shall have all the brex+d and
rtY~~rti~t~ functtun~ and p.•~~•ers ~n ~+mw•isr entru~ted b~• a court to rece~~~er, and such appointment sh:~l] be madr
.~zrh ruurt a. an admittrd ~qu~i~~ and -a mattt•r o( absolute r~ght to sa~d murtg~gee, and w~~thout reterence to th~
e~i~uar~ :nadeqisar~ i~f the ralue .~f the pr~~prth• mariKa~ed nt to tiie sol~~ency ot insolvencq oE said mottgagor
,~r t}~r d~~f~•ndrntti, and that such rent~, prufit.. ~n~•ome. ~ssues, and re~~enues shall be applied by such rece~ver
~.~rd~n,; t.~ th~~ lien oi th~. m.~rtKa~,~ and the pract~ce ot such cuurt. ln the e~•ent oE any default on the part of the
r~~.~rt~,.iR~~c h~-n under. the muriRa~or aKrers tu pa~• to the mottKaKee on demand as a teasonable monthly rrntal for
~h~• ~nc•r~~.~,~ ,,n amount at lea.t equn~alent to one-heelfth (1 '12) of the aggreKate of the twcl~~e manthlp install-
:~:ent~ F~;~~,~h;r ~n the th~-n current ~~eat plus the actual amount uf the annual taxes, assessments, u~ater rates, and
inc!uan~-~~ pr~~r.,iums fur surh ~•eat not co~•ercd b~ thc aforesa~d monfhl~ payments
1'tiat the ~~~ent ~.f an~ breach uf thi~ mortRage ar default on the ~art o( the mortgugor, or ~~~1 in the
r~~~nt tha! :ui~ rf s,~id .ur.,~ of mune~~ here~n referred to be not promptl}~ and [ull~~ p:i?d w~thout demand or nohce.
~r tn thc e~c~nt th:+t c~ach and e-~•en• the shpulations, a~reements, conditions. and co~~enanta of said note ~nd
~ ;~i. r.~urt~;.~~e. are n~~t du;t~, prompih~. ~+nd Euil~• performed; then ~n either.or any such e~•ent, the said aggregate
[ ,:~.~~ti.~~zeci in said .note then rema~mng unpa~d, u•ith interest accrued to that time, and all mone~~s secured
~ h~~r~~h~. ~hall bt~cumr due and pa~able IorthK~ith, ur thereafter, at the option of said mortgagee, as fullp and com-
~ ~:~~tel~ as if ail uf the suid ~umc oI mone~• w~ere ~nginali}• stipulated to bc: paid oqsuch day, an~•thing in said
nutc~ .~r ~n th~s m~,rt~,a~;e tc~ the cuntrar~ notu•ith~tanding; and thereupon or thereafter, at the optior! of said mortga-
' ~ec•. ~~~~th~~~t n,~t~re .~r demand, xutt at Ia~c or in equih•, map be prosecuted as if all moneys secured hereby had
•r.+tured prior to ~ts institut~on. The mortKagee ma~~ (oreclose this mortgage, as to the amount so declared due and
p.+~able, and the said prem~ses shali be sold to satisfy and pay the same together with costs, expenses.and allow-
` .+nce~. In case of partial forerlosure of this mortgage, the mortgaged pcemises shall be soid subject to the con-
^ t~auin i~Pn of th~s mort a e for the amount of the debt not then due and un aid. In such case the
~ R K" K p provision~ o(
s t~~s para~raph ma~ aga~n be a~•a~led of theceafter from time to time b~• the mortgagee.
~ ltl That the mort~agor w•ill gi~•e ~mmed~ate notice b~• ma~l to the mortgagee of an}• conve_yance. trans(er, or
g change of ow•nersh~p of the premises.
" 11 That no w•an•er of ant• co~~enant herein or of the obl~gation secured hereby shall at an~• time thereaher be
~ `~ric: t~~ be a u•an•er of ihe terms hereof or of the nute secured hereb~•.
~
~ 1Z That if the ^iortRagor defauit in :in~• ot the cocenants or agreements contained here~n, or in said note, then
~ the ^or±K~get~ rr.~~~ terlorr.i the same, and ali expendituces (including reasonable attorney's fees) made b}• the
~ -~or'~aKee ~n co doing shall draw~ interes! at the rate set forth in the note secured hereby, and shail be repayable
~ :T^ediatel~~ and •..~thout der;and b~• the martgagor to the mortgagee. and, together u•ith interest and costs accru~ng
~ !h~~rr.~n, shall he secured b~ thi~ mortK~Ke.
~ l3. that the r.a~lin~t of a wntten notice or demandaddressed to the oaner of record of the mortgaqed premises,
~ r directed t~ the sa~d uw•ner at the last address actuall~• furn~shed to the mort~agee, or directed to saidowner at
~ ~~~d ^~ort~aged pcem~ses, and mailed b~- the United States mails, shall be sufficient notice and demand in an~•
~ .
w{ : ase at~sing under !t.is instrument and reGu~red b~• the pro~•isions hereof or hy law.
~
la. The raort~agor further co~enants that should this mortgage and the note secured hereb}• not be eligible
fur ~ncurance ar.de: the tiational Nou~i::g Ac:t w•tth~n ~ VN1J Erom the date hereof (written statement
~s .,f ~,n~, oftuer of the Department ot Hous~n~ and Urban De~•elopment or authorued agent of the Secretary of Hous-
in~ .~nc i:rban De~~etopment dated subsequent to the ~~AY~ time from the date of th~s mortgage,
- declin:ng to insure said note~an~ th~s mor~~ege, bg~ng deem•~ conclusive proof of s~ch ineligibility), the mortga-
~ Ree or the holder of the note r.iay, at ~ts option, declare ali sams secured hereby immed~ately due and paKable.
.f
The co~endnts hecein conta~ned shall bind, and the benefits and ad~~antages shall inure to, the respective
- he:r~. rxecutors. <~dm~n~strators. succeseur~, and ass~gns of the parties hereto. ~Chene~•er used, the singular num-
~er ~^a:~ inc:ude the plural. the plural the sinqu:ar, and the use cf an}• gender shalt include all genders.
=r
:~i
,:i
r
;
~ ° R 191 1360
BOUK
',:i5
i~:
a~~ -
. . _ ~ . - . . . : . ~
~
"
~ . . _ . _ . . . ~ _ ~ . _