HomeMy WebLinkAbout1960 ~ "Th.~t ,.~cil E~r~r,~t, ~"..,...it. ;~t ~.u(irr ni~ «~a~te•. ~mp.~irment. ~~t cic~tr~~.~r.~tt~~;i >.~u! F~;,,{~rrt~ ~~t .~n~ ~~.~~t
I~li•It'::f, :~:li~ iti Itlt• e•~i•t:l ~d I~It~ I.~ti~lte• i~l f}~t~ 1~`U!I~.~~,tN (u ~t'i•(~ If1P f1111~l~Itl~!ti ~~il ~.~It~ ~llt'!'ll~c'ti :1(1'~ I~1~~~P Inl~t•
e•r~.t<~d ~~n .:~~d E+n•r.:t~~•~. ~,r i~r.Fn~,,.~~~re•nt. t>~c~r~~rn. ~n ~u~xi rr~~.~ir. thr mutl~;aK~•e~ r.~:,~ e~.~l.~~ sueh rr~e~tr~ ~n it.
~lt~rtrt~un ?t ma~ dt•rrr n~~c~•~~.+n t~~t thr ~~t„4~~~r E~re•s~•t~at~~~n tht•r~~~~l. :~nd Ih~~ fu!1 anv~u~~t ~,t ra~•h .~ni1 re~~r~ ~ueh
E~.~~:~.~•nt ~!i,~ll 6r ~mr.u~~'ti.~t~•l~ du~• .~n~! 4,.~~,~h1~•. .~nd ~h.~ll br u•cutc~d 1~~ the ~~c~n ut Ih~~ m,~tt~;<,E,c.
h'fh.~? !it• ~ctll ,t'.1 .~ni! :~nF~.ul.+r t'ir rust~. r}:.~r~;c•~, :~nd ~~xpt~n~es, inclu~lin~; re~c~s~~n:~blr I.nr~~•r'~ f~•~~~.
.~m! e~~.t. ,~t .~h~1r.+rt~ ,,f t~ile•. ~ncurre•~1 ~~r E~aid :+t .~n~ itir.~~ h~•thc• m~~rtkaRe•e bFCausi• ut tht~ ia~lu[e~ ~~n Ih~• p.~tt ~~t
th~• ...,~rt~;.,~~,~r pr,~cn;:th .~n~! f;:il~ prrturm th~• .~E;re•e:n~~nt~ .~nd re,~~c~n.~nts uf sa~d pru~^~~~~,r~~ n~~te• :~nd th~s murt
.u~~? .,.id i•~~>t.. cl::~r~;i•:. .~nd e•xp~•ns~•s sh.+ll br r.n~tird~atel)' du~~ und p.~~:~ble .~nd shali br srcurrd b~ ll~t•
1?i•n ,d tht. r..:~~rt~.~kc•.
'~I~l:.+t he u•~II ke~rE~ thc~ irnE~r~~~c•~~~~~nts n~~~~ e~x~st~nK ur hrrt~aftrr ere~cted ~~h thc~ m~~rt~;a~;:~d prupe~rt~, ~nsumd as
c~,~t hc~ re~qu~~rd frum t~a~r t~~ tir.x• ht the~ rr~~rt~,.~F~•c~ ;~K,unst I~~ss b~~ f~m .+nd c~t}if~r haz.~rds, casu~ilt~es, and e~~nUn-
~rnrit•. ~n such .~muu:~th .ind f~~c .uch p~•n.K1. u. sr.c~~ be rc~qu?re•d h~ mi~rt~;~~~;ee. und u•~il pat prc~mptl~•. ~rhen due.
,~nt pn•m~um~ c~n such ~n~ur.~ncc~ lur pa)•mrnt ~~I «•hich pro~~~siun tia. nut be~E•n madc hE•r~~inhc(urr. All insurance
~l~.~Il t~r c.~rcird in crm4~:~ni~•: .,pE+r~~~rd h~ murt~;.+k~~t~ .~nd th~~ pulicirti and reneti•als thrt~ of sh.+il bt~ h~~:d b~• murt-
~~,~'~,e~r ,~~~i h;~~r :~ct:u hrd tt;c•rrtu i~~~~ G~:+~ahle ci.iusc~ti ~n (at•ur ~~f and in furm accept:+bie tu the mutt~;aKre In
a~~r:it ~,1 luti~ hr ~~iI! Rnr ir,,,,c•di,~lr ttott~-r h~ m.+tl tu murt~;aRee, and mort~;.iKec~ ma~' mal:c prouf uf l.>s~ ~1 nut
r-,~dr ~~t:~r~E~tl~ h~ m~~rtk.+Rur. :~nd t•ach ~nsur:+ncc~ c~~mpan~ cunce~rned is h~~reb~- authur?z~•d and dtrrcted to mak~~
F~,~~ ~r~•nt (ur ~;ich I~~ss dirertl~ tu murc~aKc~e in~tc~ad c~f to mortK.~~~~r and mortga~;ee juintly, and the ~nsurance E~ro
crr~~s, ;>r ~+m E~.+rt thereul, ma} be ap~~lEc~d b~• muttKa~;ee at tts optlon etther to the reduction uf the ~ndebtrdness
',~e~r~~t~t secumd .~r tu !he r~•~t.~ratwn ur repa~r o[ the pruper[~ d~mt+kt~d- In e~ent .~f fureclus>>re of this m~~rSKaRe ur
; ,~thc~? tr.,r~-.f~~r v( t~tlc t~~ the mc~ri~;.~~ed prupert~ m extinKu~shment uf the ~ndebtedness secured hereby, all nkht.
t~tle~, and intere•~t ~~f the~ m~~rt~~:+Kur in and tu ,~n~• insurancr ~,oltc~e~ then ~n furce shall pass tc. the p~urchaser ur
~c.int~•e•
2+ Thut thc• m~~rtR.+Kec• ma}. ~t anti• hme pendinK a suit upon this mortKage, appl~• to the court h~~~~tnk ~uucdic-
; ti~~n there~ut for th~ .,ppu~nir~ent uf a recei~er. .~nd such court shall forth~•~th appuint a tece~~•er of the premi~c•s
f cu~.~~rrd tic~reb~ .+1! and stn~;ular, includ~nk all ~+nd s~nKular the ?ncome, profrts, ~ssue~, and re~~rnue~ from w•hatc~~•er
~~~urr~• deri~cd. c•ach and t~~~en .,f k•h~ch, it beinK ~~xprrssl~• understu<~d, ~s hereb}~ mortgaKed as ~f ~pectficall~~ ~c~t
" t:~rtt~ .,n~j c=~•~~•rihc~d ~n !hr Kr<~ntinK ,anc~ h~~brndum cl,iuseti fiereuf. ~+nd tiuch re~-e~~•er sh.all h~~•e all the br~~ad ~+nd
~ rft~~e ti~r tun~ tiun~ and E~~~w~c~rs en an~~cis~~ ~•ntrusted b~• a court tu a tecen'er, and such ~,ppuintment shall be madc~
y hti .ach c~~urt an admitted equitc and a matter of absolute nght to said muttge+gee, and witho~t refetence to the
.~;'.r:~u.+~ ti~~r s:~~~dc•qu.,c~ c~f the ~~~+luc• uf the prc~pert~• mortga+ged or to the sol~•enc~• or insol~•enc~• of satd mortKa~ur
.~r :he drfc•nde~nt~. ~+cid th;~t ~;urh rrnts. prutits, income, issues, and revenues sh 1 be glted b~• s~ch recei~~e~r
_ .~~rci~nR t~~ the~ !u•n ut th~s murtRaRe and the pract~ce of such court. ln the evenl~~an~• ~efaol~Qn~ he patt of the
= ~~rtk,,k.~r he•re~~~ndc•r, thc~ r^~~rtK~,Re~r a~,t:•~~x to F~a~ to the m~>rik.~~,ee un demand as a teasunable mont~il~ rental tor
- th~• F~rr~•• i~~~s .+n .+-~,~iint at le~+~t eqwti alent to c~nc•-t~relfth 11 1') ~~f the ag~regate of the tw?~1v~ Mri11Ml}' install-
_ nt~ E~a~.+'.~:r in the t}ien currc•r.t ~ear plu~ tht• actual amount of the annual taxPs, assessments, v~ater rates, and
:r,~:ir.+nc~• prt~~r~ums fur such ~•~•ar not co~~ereci b~ the aforesa?d monthl~~ payments.
>t T't~.,t :~n the e~em of ~+n~ breach ~f th?s mortKaKe or default on the part of the mottgagor. or ~~n the
rtir:it th.~t .~n~ ~~f ~.~id surr.~ uf r. une~• hrrezn referrc~d to be nol promptl~ and Eull~~ patd w~~thout demand or n~~tice,
in the~ c~~r~? !h;~t c•.+c•h ,ind r~~c~r~ ?he~ stiF~vl.+ttuns, aKreements, ;:ond?tions. and cot•en.~nts of satd note c~nd
thi~ r~~~r~:~.;~;f•. :+rr n~~t dui~. prc~e:ptlt. ..nd futl~ =>rrtormed, then in either ur ~n~• ~uch e~°ent, the ~~+jd ~iKKreKatc~
T :ur.; ;r:c•ntiuned ~n ~.+id note the~n r~~m.,ln~nk un~a~d. u~tth ~ntcrest ~+ccrurd to that time, and .~11 monrr~~s secured
i~:~r~~bt, ~h:~i! b~•c•,~r-~e dur an~ pa)ablr 2vrthw•ith, or thereafter, at the option of said mortgaKee, as full}~ and com-
- pirtric .+s ~f all uf the ~a~c; su~-~c c>f ^~unc~t ~rrre orig~nallc stipulated to be paid on such dati-. an~•th~r.g ~n sa~d
p; n:~?c~ ~~r in th~< r.~,~rtk..+~,e tc~ the c-:,ntr:+r~ notw~~thstandmK, and thereupon or thereafter, at the opt~on of said m.xt~a-
~`x ?;l•t•, 141t~i~~ut n.~tic~~ ~~r ciemand. ~ui: .+t ta~~~ ur in equ~t:~. m~+~ be prosecuted as if all moneys secured hereb~• had
;r.a;::ce~j pnur inst~tstion. 1~he mortKa~,ee ~:at• furr<-lose th~s mortgage, as to the amount so declared due a:~d
- p.,~.,b!~~. .i-td the ~aid prc~~~tiet shali be ~otd to ~~itisf~ .ind pd~• the same to~ether WItFi COStG. E'X~f1tEti,~i!7~ allov:-
.~n~ e~. In c.+«~ ~~f p~+rti~at fc~rc~c:osure of th~~ mort~aKe~, the mortKaKed premises shal! be sold sub~ect tu the con-
tin~ink lu•n c~f th~~ rortKa~;f• (:n the e+rr.uuni the debt not then due and unpaid. ln such case the pru~:tiwnti uf
th~. p~~r,,~;r,.ph r~<,~ aKe,ln he a~.i~led .~f thereafrc•r from time to tim~ bt the mort~aKee.
> 1~~ Ih<,t the• •rurtR~+~ur u~ti ~«e• i:^.:r:rdratr~ ne~tice h~ ma~l to the rnurt~;~~ee of ~m cun~e:~.+nce, tr.+n.fer. .~r
- ch.,t~~,c• ~,µnrr~htE~ ~~f the pre•r^~~c~s.
~~Y 11 Tn.,t nu v:~n.~r of ..n~ c~~cc•nant hc~r~~~n or of the ~~bliKat~on securti~d hereb~ shall at an~~ t~r.~e theteatte~r h~•
~~~~:~a t~; 't~e e tc~!.rt uf thr terms hrreu( or of the nute secured hereb~~.
~ iZ l~hat if the ;r.uttFaKi~r de4.+ult ~n .+n~ of !he ca~enants or a~reements cuntained herein, or in sa~d nut~~. then
!i~e T~:rtF;,RC•e r~.,~ perf~~~^~ the ~ue,r, anc3 .+1: ~•~~~end~tu~es I~ncludinK reasunable attorne~~'~ lees) made~ h~• thr
~rt•~;,~c~r m~~~ ~i~_~in~; ch,,il dra~~: mt~ r.~~t .~t the• r.+tc~ srt for.h ~n the nute SE'CUtt(j }lereb~•, and shalt br repa~.+ble
_ .~-~::~.~trl~ ~.iith~~ut drr.:,,nc~ h~ the~ ^~~.~rtk;.,~;~~r tu ihr mc,rtga~;ee. and. tuKether w~lth tnterest and cu~ts .iccrwnK
":rt~~ ,n. ~h.~i! he~ ~e~ct:rr~? b~ !h~~ ^~uttkaR~•
- th~~t t'tze ~-.+i;~nk~ ~f ~.~~rittc~n n~~tu-r ur d~.^:..n~i~~ddre•~sed tu the ou•ner of record uf the m.ortK.iKed premi~e~.
- ~r -ierrc!eci t,~ the• s.+:d ~~ur,e~r at thc~ 1.+~< <~c?:irrss aetu,+?1~• furn?she~d tc~ the ~^urtkagee, ot directt~d to saidu~xner ai
•,,ri ~~r~k.~krd p~rr.~.,~r~. ~+nd ~ailt•i? b~ thf• l'ntted States m~+iis, sha!! be suff~c~ent not?ce .~nd r~emanci in an}
_ ..~~r .,n.,;;~k unti~~r thi~ in~trur.,c~nt ~,n:~ rey::~rc~c; bti the pru~•isiuns hereuf or taw.
` I i l hr ~~:rtK.~Ke~r f~rther c~nrnant~ tha! s:~uuld thts mort age and the note secured herrb~ not be el~K~hle
- t:: !r~ccr.+nce :.r,~~~r thr \at~~mal I~.,u~tnK :1~t urth~n 30 ~AYS fr~~^: thr date here~~f (written ~t~~t~•mer.t
!.~n•. ~fticrr ~.~f the• l)rp~,rt~:ent ~~t il~~uslnk .~n~ [:rb.+n Ur~~e(cJpmen! or ~+uth~~nzed a~rnt of the Secretart~ ot Hous-
.,:ri l;',.,n (~<•tE•:up:~r~t d~it~~d s~b~eyuent tc~ tht• r1t time frum the c'.ate uE thi~ r~c~NKaKe.
;:~ine, r~~ in~~i:e .,~~d r.<~tc• ~,od !hi~ mortR:~ke. be~~nR drem ~d c~mclusn~e ptovf uf such ~ne1~K~h,l~t~ i. the rr,ur~K.+-
;'s~e• h~~.dc~r "i the• :2ut•• at ~ts c~ptinn, declare- all sums secured hereb~~ immedi.~tel~~ due and pawbte.
I n~• cu~.~•n.,nt~ hc~rrFn cont:un~d ~h.,l! bind. .+nd the bene~its <s~d ad~•antages shall inure tu, the re~~cii~e
: x~•; ut<~r~. ,,d•;~ini~trat~~r~. ~:ici~e«~,~r~. and a~.si~;~s e~f thr parl~es hereto. 11'hc•nrcer use~d, the sinRular num-
i~,;:r ?r~~ ~~1~.,;~,'.. tht• }~li:r.~] ~nF .in~u:.~r. ~,nd the use of am ~;rnder shati ~nclude ali kender~.
_ ~ORx ~v'1V YAC~~~5S
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