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HomeMy WebLinkAbout1785 , . ~ : , f _ Ih.~i, i~~ u~Jrt nnur lull~ t.~ +~~ulr:l :t~c .r:uiil) ~~1 Ihi. ;n.~itg.~Lr. thr c..~ ~~.i.,~i I,~ic:l~r! ~n~U~ n•~.t in .~.ldit~.~n 1:~. t~lr ~c.~i;thh pa~ntcnl. unJri Iht lrim. ~,i It~r nnt~ .r:u~~d h~rch~. ~~n !hr ltt.l .L~~ ~~1 r,uh n~.~nt~i unl~l thr ..u.l ~;,~t~ Iull~ p.u.i. ~.ill p.~~ Ihr mui1~;.~~~r th: h~ll~.~~in~: ,~um I.i1 •1n un~.~unt ,uCtic~~nt pri~~~ilc th~ h~~:dtr hrrc~~t H~th funa. t~~ p:+~ thc nr~t muitg:~gc in,u~,in.r p~cmium ~f ih~~ ~mtrumrnt and ~hr mur ,rcu~rd hr~rh~ :~r~ ~muirJ. .,r a m.~nthl~ :har~c ~in hri~ ,d a nH~~cg.i~r in.ur.~n~r prrnuuml ~f thry arc hrld b~ thr ~~:rrt:u) of H~~u,~n~; .~n~ l rh.~n Ik~rlupmrnt. fi~U~~H~: ~1~ If aad w I~ng a. ~.ud u.+tc .~t rtcn d:ur e~Hl th~c ~mtrumcnl ~rr ~mu~ril ui .ur rrin.urcd unJtr iht nm~n~um uf thr ~~u.,n.d Huu,~n~, :~:t. :~n anu'unt ,ufficirnt tu a.cumula~r :n thr hanJ..d thr h~,ldrr .mr 1 I) munih {xwr tu it, du~ J:~lr thr .u~nu:~l in.~rt~.~gr imui:~n.~ prrnuum, in .,r~e~ +u p~~.~idr .u:h h.d~lr~ with fund, a, p:~> .u~h prrmium c~. thr tir~rrt.uy uf Huu~ing and l'rban L)~~rlupmt~u pur.u.uu t.~ tha ~at~.~n.il H~~u.~n~ .n amrn.lrtl. :~ad ~ppli~ahlr Itcgul:~ti.~n. ~hr~r~u~~rr, ~~r illl It .uti~ x~ i.~ng a„aiJ nusr ~•i ~~rn ~.~tc d111I llll~ in,uumrnt a~~ hrlJ hy th~ kcrriai~ uf H.~u,~ng.u:d l'~h;,n lh~clupmrnt. a nwwhly ch:~tgc ~~n Gcu „I muit~:~gr in,ur:incr p~rn~n~ml ~h~~h ,h~l~ hr in ~o :un.~unt ~yual t~~ ~mc tHrlfth II(1:~ uf ~mr-half prr :rntum uf th~ .i.~r.~gr uut.~.sn.ling h.,larki ~luc an thc n.ur c~mputcd ~i1h~~ut ~aA:n! int.> a:~~~unt drl~nyutnat. or prrpaymtn~~: th~ \.um ryual to lhr gc~~une1 irnh. ~f :u». nr~t Juc. plu~ lhr prrmiu~n. tha~ will nr~t brt~mr Juc and p~>:~blr un {+uli:~r..,f hrr ~ud ~ith~r hatanl imuren:r cu~enng thc nh~itga~;rd pr.~prri~. plu. ta~r. a~J a.,~.,mrn~. ne~t Jur un thr maKt~:~grd pr.•~xrt~ ~all a. e,umatcJ M thr in~~rtgag~el Ir+. all .um. alr~ad~ p:+id thercfor d~.~dcd b} thr numt+rr ut m.~nth. ti. rlap~r t+tfi,rr une munth pnur tu the ~atr Nhrn ~u~h graurxl rents, prcm~um,, ta~r.. ~ixi s..r~+mcntc Nilt bctiume drl~nyurnt, such .um~ to t+e hcl.l h~ nwi igaber ~n tru.t 1u {w) +.+wl gruun~ rrnu, pcrauum~. warw an~ apc:.:ial a„r,+mrnt.: anJ Ic? :\II payni~nl~ mrntiunrd in thr two p:~vrd~ng ~ut+cectiom .~f'thi~ paragraph and :JI paym~nt. to tk ~naJr ~lAJrr thr nuir ,rcurrd hrrrh~ .fi;,ll tti addrd tugrther and the aggrcgate amuunt therruf .hall bc paiJ by the murtgagor t:uh month in a.in~lr paj mcnt I~~ h~ .~ppl~cd by ?hr m~ul~.~~« ti~ lh~ f~~ll.~w ing ~t~ m~ in thr ~xd~[ ~Cl tuflh 111 prcm~um ~hrr~r. unJrr th~ :untr.t~t uf in~u~an~c N~th the Stcrcta~} ut N.~u~u~g an~ l'rF~n l)~v~l.~pm~nt. ur m.»ithl) Charge lin liru ut rnui t~;.~gr ~n.urancr prcmium?, a, Ihr ~.tx m:~~ tr: ' ~ II i ~n~und rrnt., ta~r.. a..c.~m~nt., fire, anJ other ha~ard ~murancr premiums; ~ 11111 intrre+t un the n~~~r +ctiur~til hrrehy: and IIVI amururauun ul ih~ pnncipal uf wid nutc. ~nv drticirrx~ ~n ~hr am~~um of wch :~gcrrgai~ m.+mhly p:~) mrm .h.JL unl~.. m:Illl LINKI h\ thr n~.xt~.~g~x p~ i~~r tu ihc .iur .l.a~ ul If1C f~c\t ?U~fl ~a}mrn1. ~~•mutut~ an rYrn~ U~ ~~t~:+ul~ un.trr ~h~. m„rtg.+g~. I hr pl~q~~:ll;CC 116~~ .Ui1C~1 a~~~:11C ~tl:~rgt~~ nut ri, a~~r~.l tNu ~rM~ ~':1 ti~r ca~h ~I.dl.~r ~[I ~~~f ra~h pa>mrnt nwrr than hftrrn t 1~~ uay. in :~rrrar. tu iu~ri thr r~1~a ~~prmr imol~r.l ~n handl~ng delinyurnt p.~~mrnt+. Z lhal :1 the tut:~l .~f ~hc pa~mrnh m.idr h} thr morlgaeur unJ~r ~hl uf p:uag~aph pr.cr~in~; ,t:.Jl r~cr~d thr an~:~unt uf thr p:~ymcm. a~tuall} m:n1r M thr m.~rtgagrr. f~~r cn~und rcnt,. ta~~~ and a.tir.~mrnt, an~f ~n.u~.,i~c prrm~uu~•. ~hr :.~.r in.~~. h. .uch, exce» :~t the op~~on uf the m~xtgaget, shsll, br crrJitrJ on ~ub.eyurnt paymenn tu t+r maJr by the mortg:?gur. ~r refun~icd to the nwrtga~.~r If. hu~.e~rr. thr nx~nlhl~• pa~mrnh madr h~ thr murtga~ur un~l~r IM ut par.+gr.iph pratr.lmg .hall nut I+r uillicirnt 1.+ p.?y ~;ruund rrnt.. ia~r~ and a.~r~.m~nt+ am1 imur:+ncc prcmium.. Ihr ia,r may t+e. Hhr~e thr v~m~ .halt hr:.~mr dur anJ pa)nbk, thrn Ihe nw~rtg.?g~~r .h:Jl p~~' tu th~ m.atgagcr any anwunt n~-~~ti.ary t~~ m.~?t up thr dtfii~rn~}, un ar t+af~~re thr datr when parnxnt ut .u~h ~ruunJ rcnt., ta~~ti. a,.~..mrnt.. or ~nwran~e prrm~um. ~hall t~ du~. 11 a1 am i~mr thc m~,itL.~L~a .ti.Jl ~rnJrs tu thc m~ati.~L.c ~n a:cciretar.cr ~~ith tht pru~:~i~+m ~•f thr nolr ~e~ur~J hcrrha. full paymrot nf ihe rnt~ra uxirhtrJn~~+~ rrprr.rntrJ theirh~. the ttk~rl~ag~r ,hall, in cumput~ng th~ am~~unt uf,u:h ind~hlydne,..:rctih ti~ ~hr :~c~~~unt ~~f thr m~xtg:?g~K :~U paymcnt. madr und~r thc pru~~,iun, ~+f 1~~1 uf par:tgr.+ph ' hrr~~~f Hhirh ~hr mu~Ig.~grr ha. n~~~ hr.omr ~~hlic:+t~vf Ii~ p.~~ t~• tht tir~rrtary ~~I Nuu.~ng an~ l rhen Drvrlupnxnt :+nd ant hal:iner rrm:tinint ~n thc t1~nJ~ :i:~urnul:+terl uirlar th~ p+.~~~~~um uf Ihi uf .aid p:uagr.~ph 11 thrrr .h:ell tk a ~ct:~ult urxlrr ant ~~f Ihr p~u~i~~~~n,.~f th~. mr~1~.~ga. ~r.ulun~; in :i puhlic ~:~I~ ~~t thr pr~mi.r~:u~ri~yl hr~~M..~r if Ihr m~~rt~.~LCr .~~yu+ir. thr piuprrt~ ~~~hcrtinr .dtr~ .Ic(.iul~ 1hr m~~rtc.~~rr .h.ill appl~. :~t thr t~mr .,f thr :~~mmrn:rmrni ~~t .u:h pr~+crr.lint. .~t thr um~ thr pn~pr~t~ i, ~~?h.rw„x a:yiu~~i1. thr h.J:+ncc Ihrn ir~n:u:~~~:~ m!h~ fund. .ic~u~nuLac.l un.l~r i~~ ut p.ue~:r.~ph pir:rJinc .s• a rrr.lU .~~:un.t thr amuunt pnn~ip.~l thrn ~rm:u!unt unp.u.+ un.lr~ ..ud n.,tr end .h.~ll pruprrl~ e~l~u.t .~m pe~mrnt. ~~h~. c.hall h.~~~ Fkrn m:~.lr un.tr~ ~,+1 ~,1 ~.u.l paia~~aph. -1 Ihal ha ~~ill p.i~ .~li t.~~r.. .~..~..mrr.i.. ~~:~ir~ i.~lt...~n~l .~thrt L~~~crn~nrnt:J ur muni.ip.il .h.u_c.. tinr.. ~~r ~mp.~.~U~~n.. (~~r Nh~ch pru~i.i,m ha. nut hrrn m:+.l~• hri~isiha•t..rr. an.'. ~n ~Irf.~ul1 th~rc~~f th~ ~n.~rtga~ir ma) p.~~ thr ..~mr: .~nJ th:~t hr N~11 p~.~mptl~ ~Irl~~~r thr uffi~~.cl ra:i~iph lhrrc~ui tu ~hc ~n.~r~~.~Lrr i ` 1 h.ii t:r ~II ptt nut. :uminil. ~n .uttr~ ti~~ ~..~,tc. ~mpan mrnt. Jrtr~ ~u~.iti.rn ~~I .aiJ pru{+trt~ ~,r an} parl thrrrof: :~nd ~n :hr ~~cnt ~ ut thr t.ul~nr ~~i thr m.,it,at.,+ t~, Arrp thr hu~l.lini~ un ~:ud prrm~.c. anJ th.,.~ tu h~ rn~:tcyl un w~J prr~ni.r...x ~mpru«nr_r.t. thrrrun. E in ~;~+.~~i ~rp.ur ;tir mui~Leg~•~ m.~~ m.~lr u::h ~.•r.ur. a. ~n u. dn~ret~.~n n may Jrrm nctir.,an' fur thr pr~,prr prr.~r~.~u~~ii :hri~~~f ~r.J ~ th~ full :urn~uot u! caih .~n.l ~~r~~ ,u:h p.~~ mrnt .h.~ll hr ~mmr~l~ata•h Ji~r .in.l pay.+hlc. :~nJ .h.Jl hr ,r:urrd h~ Iht lirn .,f tiu. mui t~.iEi ~ h 1 h:~t hr ~•~U pa: :ill .~nd .sngul.~r 1hr:u,t.. ~h.ui:.. .~nat r~prii,~.. ~n~lu.ling rr.i..~n:~hlr L~~~~rt .Ir~...~n.f:.~;t.~~f .ih,tr.s:t.~~t httr. ~ incurrrJ .a p.uJ .~t .~n~ Umr h~ !hr m~ntt.~ticn c~:.~u.u ~d thr ta~luir un ~hr p.,rt „1 thr nNat~.~L~~r p~.~mpth ,~n~ fully tu parturm tht ~ agrr~~iirnt. .~:i.t ~u~~u.~nt, ,.~i.! p~~~ntn.ui~ nutr .~nd thn inuit~:~er. .in.1 .:ud i~~.t.. :ti,czr.. .~n.1 r~p.•n.r. ,h~ll tx immrd~:itrl) duc .ind ~ p;f}ahli ,~n~l ~h.ill hr ~i~Uti'il h~ Ih~ (iilt i~1 th~. mutlC.~Ci ~ ' I h:st hr ~~ill i.~.p thr ~mpr.~~~inrnt. nu~~ .~i,uni hc~r.~tt~r rr~:~tcyl ~~n th~ mutli.~g~~l p~~~pr~t~. ~rnurrd.~. ~na~ tk ~ryu~rrd I~,~m : un:r t~. umr hy thr murt~.+~:rr :~Lain.t I~~.~ h~ hrr .+n.l c*~hr~ t~.vai~t..:a.uiaur.. .uiJ i~~nt~ngrn.'~r. ~n .u:h .~nw~urh :~n~l I~or .uch ptrn,d, a~ ~ ma~ he icywrad h~ nu~~1~;.l~rr. anJ w~ll p.~~ pru~nptl~. ~~hrn ~fur. .~m prrm:inn. ~m.u:h ~n,~uen:r (u~ p.i~ mint ~~hf:h pi~~~~.n~n h.~. n~u ~ Ixen madr here~nlxfurr. Alt ~murancr ~hall t+t ~arnr.l in iumpanir. appruvrJ hy rtwrtg:+gte and the pcrl~~ir~ aixl rrneNal~ thrreuf +hall ~ tti hrlJ h~ nuKl~.~ga'c' .~n~l he~i .~il:~~ha~l lhCril~~ It~~~ p.t)ahi~ il.~u.~~ ~n t:~~~~r ~~f and in ti~fnl :u:i(~lehl~ It~ th~ rlh~rlgaL~C. ~n i~anl ~~1 lu» ~ hr H~11 g~~r ~m~n~~l~.~tr n~~ti.~ h> mail tu m.~i~i.i~~r. .~n.l m.~~tz.~~rr ma) m.~lr p~.ti~t ~~f 1.~.. ~1 n.~t ~n.~~lr pr~~mpth M~nur~~.~~:ui. .~rnl rach ~ ire.ur.irnr :.~mp.~n~ iuncr~na•d h~r~h~ .~uth~~rvrd .ind dir~~t~~! tu ma?~ p.~~mrnt fut ,u.h 1~,...lirrrtl~ t.~ m~~rl~.~~ra ~n.tr.~J uf ti~ ~rx~~tc.~~.r~ .~nJ m~~rli:i~r~ ~~r~ntl). .~n~l Ihr ~mur.~ni~ p~~~r«I.. an> part thrr~ti,f. m.~~ F~a .ipplic.t M m.~rt~.~icc :~t th.rpu~~n r~thri t~, Ihc ~ y, (cJu~u~~n ul !hr ~ntlrhlr~tnr.~ hrirM .r~ulrJ ~•1 f~~ lhr tti.lut.tu.~n ~~r ~.p.ur .~l lhr pr.~~rtly .I.un.~~:rd Itt c~rm ~~1 t~~rr~l~~.urr ~~1 Ih~. nwrt~;.i~r .•r ~~thcr tran,trr [itlr i~• thr m„rt~a~r.l pt~~rr1~ in ~~tineunhmrnt u~ thr in.lrhtr~tnr,. .c~i~~rrd hrrchy. all n~hl. utlr. and ~ intrrr.t Ihr murtg:~gc~r in :ind tu .!m in.u~:~n~r p~~li~i~. Ihrn in I~~rcr ~h:dl pa.. t~~ thr pur~h.~,rt u~ t~.~nlrr ~ ti 1 h:~t tl~r murtgagcr m.i~. am lime prn.ling :i .wt upun th~. murlg.~g~. eppl~ Iu tiic ..wrt hevng Jur?wl~:u~rn ttir~r~.l t~~r thr ~ ~pp.~unm~nl rr:~i~rr. .+n~l ~u~h ~~iur1 .hall f~xthN ith :ip~~int a re~ri~ar uf thr prrmi.r~ cu~rrrd htrch~ all and ~ingul.~r. in:lu:lui~ ell ~ anJ .iniular thr irtcumr. pn,fit~. i,.ur.. and re~rnur~ fr.,m ~+ha~evtr v~utee drri~~tif, rach :irK1 rv~ry ~~f Nhich. it h~r,~ r.~prr,.l~ ~ unJr~•t.~~~l. hr~rh~ n~~~rtz.i~:rd ~f .pr.~Yh:dh .rl t~.r~l~ .~nd d~-+~ntkd ~n Ih~ a~.~nUng and h,~h~nJum ~i.~uu. hrr~.~f. .~nJ .u:h rr:r~~rr ~ ,h:Jl h.~cr .~II th~ h~„eJ .~n~l rfFr:ti~r fun:u~m. an~l puwr~. in :~mw~.r rntnntcd h~ ~:.~urt tu rciri~r~. .u~d .u:h appu~ntmrnt .hatf t+c - ma~k h} .u:h ~~,uii .in .i.ImutrJ ryu~t~ ,~nd m:~ttrr ~~f .~hv~luti r~ght t~..aid nti~~tK.~g«•. .~~:•I ~~~thuut r~tr~~nir t~~ [hr .~~tryua~~ .~r ~ ~naJryue~~ uf Ihi ~.~lui ~~1 ~hc• p~upi~l~ ntu~t~.~gi~l u~ l~• tlii Kd~tn~y ~nwl~~n:) wud m.~~t~.iL~~r i~t Ih~ il~l~n~:inl.. .~n~l lhat .uih ~ rent.. pn~fit,. ~n:~~n~r. i..uc,. :in.l rc~~nuc. ,h:~ll hr .~pplir.l h} ,u~h rr~ri~tr :i:i~~rding t~~ thr hrn ui th~. tn.,rtL.t~r :~nd th~ pi.~.ti.~ ~~f.uih ~ ~ court In thr e~cm ul am Jr1a~Jt ~~n thr p.~rt .~f th. m~~ii~:~gur hrirurni~r. thr m~~rlg.i~.~i ag~~r. t~~ p.~~ t~~ thr in~~rlga?,r~ ~~n ~lem.~n~t :t~ .i rea~unahlr mumh~~ rrnlal fur ~hr prcnn.r+ an enu~unt at Ira~~ ~~yu~.alrnt tu une-tNrllch ~ 111_i uf th~ aggr~ga[r uf Ih~ twrhr nw,nthl) ~ ~n~tellmrnt. ~1:1~J~1Il' ID IFII' ~hrn :w~rnt yrar plu, th~ actual :~muunt ut~ thr :~nnuel ta~r,. a,.c„mrnt.. ~~atrr r.ct~.. and m.wancc prrm~um. fur .u.h ~rat n.~t :.,~,rrd M thr .d.~ic..uJ m~,nthh pe~mrnt. i ' 4 1 hat Iu1 i~ thc r~•~~t uf .m~ hrrarh i~f thi. mi.rt~:~gr ~a drfault un thr part uf !hr m~,rtgag~~r. ur Ih) in thr r~r~t th:il am i~f .aiJ - tium~ :N m~mr. hrrrm ~rlrrrr~l t~~ hr nu~ prumpds :~nJ iidl~ p.ud w~Ihuut .irm:~n~i ~,r n,.ticr. .a ~ in thr rrrnt th.~t ;.~.h a~i~l r~rn th~ .tipul.~s~~~n.. a~;~rrmrnt.. :nnd~u,~n.. .~nJ ~wrnanh ~~f,~id n.Kr and ttu~ nwitgagr. ~rr nut July. prumpU~. .inJ (ull} prrta~rmr.i. thrn in • rNh~r e,i any ~uch t~rn~. thr .aid aggrrgate ,um ment~~~nr~l ~n .aid n.~t~ thrn ~rm:ur.~L unp:ud. ~~ith int~rr.t x:rur.l !h.~t t~mr. .~nd all - ~n.,nr~..riu~rJ hrrrh~. ~hall hri~nnr du~ :u:~l p.qehlr Gn1h~~ ~th. ~~r 1hrr~attrr. .~t th~ urt~~~n ~d .:u~l m.~rt~;.~gcr. a~ h~ll} .ui~t :umpletrh ~f all ~+1 thr ~.ud ~um~ „t nxmr) ~~rrr ~L~ti.~ll} .t~puL~trd U, hr p.u~l i~n .uch .la~ . smthia~ in ..u~I m~tr ~~r in thr, nr~~tga~:r 1o thr :~~nUan nulNuh,i.~n.ling, anJ thr~ru~m ~~r ihrre.~ltrr. at Ihr upt~un uf..uJ murtt.~LCr. ~.~th~~ut n.•h:r.u Jrma~iJ. ,uit .~1 Liw in ~yu~t~. ma~ h~ pr~nr:ulr~i e~ it all nn~nc„ .clurcJ hrrrh~ h:~~! malur~d prH,r t~~ ~1. ~mt~tuhrn 1 hr m~~rtE.~Err ma? I~aritn.r lhi. nH~rtt.i~r. n, t~~ thr . - .~nx~unl ,u drel:~rc~l ~tur and p:~~:~hlr. anJ the .:u~l prrmi,r. ,h.~ll t+a ~.~hl t~r ,.iU.t~' anJ pay thr ~.~mr tugethrr wnF~ a~.l.. r~prmr~. and =.:Y all~,w.in:r. In c.~.r ~~I p.~~ti.~l I~~~r:l~nur~ .~f Ihi. muil~.i~,~. thr m~~rt~.~gcd prrm~,r~ ,hall hc .~~I~f .t~h~rit t~~ thr ~.~ntinuin~ I~~~ ~•f thi~ nrrrl~:.~gr tri ~hr .un.~unl uf Ihr ~Irhs n~~t thrn .1uc .u~~i unp.u~l In .u~h c.i.r u~r pr~~~~,urm ~•t thi. par.i~,i.~ph ma~ .~~.un hr .~~:~il~~~l ut lhrraaltrt fnun t~nir t~• linu h} thr m~altiegcr . - ill 1 h.~t ~hr iu.,~t~.~e„~ ~~~II immr~li:it. n„~~cr h~ m.ul ti~ thr ~n~~rlK.~grc.~t an~ :un~.>eixr. ~~en.lr~. ~ha~~gr ~~t uwninhip ~~f 3 th~ pri•tni.r. I 1 I h.~t m. ~~.u~ri ~.1 .u~y cu~rnant hrr~m ~~r ~~f thi ~,hli~:~ti~~n .~~urrd hrrrM .h.ill .~t an} um~ th~r~aFlrt tk hrld tn t+r .i N.u~er u~ ~ - Iha tr~ m, hr~«~f ~~1 th~ nutr ~rcurrd herrM•. ~ i_'. I tia~ if thr ~n~~rlg~s~•r Jcfault in any ~~f thr c~~v~nantti „r ~giermcnh cunt.unrJ hrrrin. i,r in ..~id n.~tr. thcn Ihr ~ni.rtd.~grr m:+> ~+rrf~~rm thr .:unr. .~n.! ~II r~prnditur~-. (inrluding rea.o~ahlr :,uurnr~'~ frn) maJr hy thr mur~g.~gre in du~ng .h:Jl Jra.+ intrrc,t ~t the - rate +et furth in lhr rw~tr .rrurrJ hrreh~. and .hall hr rcpay ahlr imm~vtiatch and Nrth~~ut drm.~nJ M Ihe rtxxtgagar tu thr rtwtttgagee. and. s~ tugethrr Nuh intrrr~t an~l c~+.h .~ccruin~ thrrr~,n..hall t+r.c~urrJ h~ ~hi. m~xt~ngr. ~ ~ gg ~~~17~4 B~~xi - - - - - - , . . _ _ . _ .s _ _ - - _ . ~ . . . _ _ .