HomeMy WebLinkAbout2636 ~ hst. ~n uiJr~ m.~rr tull~ ~u pru~:ct tl?r .e:uril> ut th~. mut~gogt, thr muttg~~;u~, tuFrthr~ w u~..~nd m.~~mtaNi ui ~ne muaini> ~nenie
waler ~M tr~m. o( ~hr m+tt .r:u:rJ hrrrby..~ lhr tin~ J~y ut r~ch m„nth uutil the..~id n.Nr i. (ull> pa~J. w~lt pa~ t.~ ~he mun~.~~,rc ttx (ullvw -
~ng,um~
la! An.~:nuu~u .u~ti:ir~u pru~+Jr ~Ar ha1Jr? harcut v?i~A fun.l. tu pay thr na~! m.~~~~::?gr ~mur.~n~c ptrmium ~t th~. in.uuinrnl ai~J IhC
nu~r .r:urrd hr~rb~ arc in.urrJ. ur a m~~nthl~ ~h.~r~;r un Gru uf a mun~;a~r in.ur.~ncr prcroiur..l if ~hr~ :~ra hrW h~ tIK tir:retar~ u(
II~Ki•in~;:md l ih.m Ik~rk~pmrnt fullaN.:
111 :~nJ lu~~g a..a~J nutr u! r~en d:d: :~nJ thi. imtrumrnt arr in.urrd u~ arr rrinwrtd uihl~t ~h~ pra~i.~un..~f ttk \.~u.~n.J
Huu.~n~; .~o .~m~~un! ,udi:irnl tu ar:umulatr m thr hsnd. u( Ihr h.~Wtr unt 111 munth p~iur lu ih Jur d:~l~ 1hr annu.J muil-
im:ri:u~cr prrniium. in urJ~r tu pru~iJr w.h hulJrr ai~h IunJ. tu pa~ .urh prtmwm ta ~hr ~rrrrtar~ .it Huu,in~::~nJ
l'rh:~n (k~alupmriH punu:~n~ tu ~h~ A:~tiunal FI.K~.iog :\rt. a.:,m~nJral. anJ appli:abk Rtgulatiun. thcrcwidtr. ur
Itl~ 1( anJ .u lun~; a. .:,iJ n~Nr u( r~rn J:~~r and ~hi. ~n.uumr~t ~re hrlJ hy thc ~rcretary ~~t H.w~in~;:~nd l4b:m Ik~~cl.~pmcnl.
m.~nthl~ :b:u~;r lin Gru uf a mun~:~~;r ~mur:~ncr ptrmiunu Mhich .h.Ji hr in an am.~un~ cyual unr-tNrlf~h <I(1'1 ut unr-h:Jt
l l!'_1 ~r crotum u( thr a~~ragr ~~u1.~ao~lin~; hal~nct Jur un thr nutr ~.•m{wtrd r~lhuut la?ing ~ntu :~:r~nin~ Jclinyur~xie. ut
prrp.~~ mcnh:
Ih? .um ~yu.d ~o tl?r EruunJ rrm.. if an~ . nr~~ Jur. piu. tAr prrmium. Ihat w~ll nr~t hr~umr JuC and pa~ahk ~~n {+ali.it, uf firr and
u~hrr har~rJ in,uran:r.u~rrin~; ih~ mun~;.~ErJ pra{+erh . plu. ~a~r. anJ a..c~~mrr~. oe~t .;ui un Ih~ mur~~agrd praprrly la~l a. e~ti-
mat~.l 1.~ Ihr mun~:~~rr? Ir.. .,II .u~n. a1r~aJ~ p:uJ ihrrctur Ji~ fdrJ hy ~hr numt+tr uf m.~nth. tu rlap.r t+t~u~c unr moa~h {+re.u tu the
Jatr Nhc~ wch ~;ruuiiJ rrnt.. ~u~m~um.. ta~r-. ~~~d •~.~r..mrnt, w~ll btcomr Jifinyu~nt..uch wm. tu F+n c~W hy murtg~gte in tru~t
tu p~y .:~id ~;ruunJ rrnh. prrmium.. ta~r,. and.prcwl .~~~t~~mcnl~: and
1~ 1:\II pa~ m~~~l. m~ntiuorJ in thr Iwu prt.rJin~, wh.rcuun. u( th~. par:lj,',(:1(1A JD~J :JI pa~ mrot. tu hr madr unJrr ~F?r nut~ .e:urrd hrrr-
hy .h:Jl ht :~JJrJ tuKrthrr anJ thr :~gg<<~;alr am.~unl ~hrrcu( .h.Jl ht paiJ h~ Iht mur~~;:~guc r:,~h munth in a.mgk pa~ n?~n~ tu hr ap-
plirJ M 1hr mor~~gcr tu tl?r fulluw ing itrr,i, in Iter urdtr ~tt (urth:
11? prrrnium ~har~r. unSrr tF?~ :.~o~r;~~t ut fn.ur.~ncr with tF~ St~rrtar~ uf H.K~.ing and l`rlun Ik~rlupm~nt. .~r munihly ~hargr
lin liru uf mo~~gsgt inwr.~nct prrmiuml. a. lhe ~a.r may 1+e:
111~ gruu~xl rcn1+. t~~t~. a..t.~m~nt+. firr. anJ uthrr h.itarJ inwrnncr prrmium.:
Ifll interc.t~~nthcnutr.t~urcdhrrch~~;.~nJ
11\'i :~murti~atiun ut 1ht principal u(.aiJ nwi.
~~n} drtirirn~~ in thr amoum ut .urh ~~rcgatr munlhly {w~ymtm .hall. unlt.. madr g.w~d h~ ~tx murt~;agu~ prior to thr du~ datr ut thr neu
.u:h p.,~ mrnt, a~n.~itui~ an evrnt ut JefauU uoJrt thi~ martg~g~. 'fht murtgagtr may cullcct a"lal. chargr" nut t„ a~re~d twu rrnt. 1 fur
rarh Jull~r IS11 of rach ~+a~ ment morr Ihan hitrrn: l~i J~y, in :errr:~r. tu c~?~•tr t?ww r~tr:~ ~~Mn.r in~oh td in handling J~Gayurnl pa~ ma n~..
t. Ihat if thr tutal af Ihr {+a~ ment, maJr hy thr mi.rtgag~~r u~xier 1M uf paragr~ph ` prrctJing .hrll r~crrd ~h~ :~maunt u( ttx p:~ymrot~
:K~u:dl~ maJr h~ thc murtgagrr. fur gruurxl rrnt~. ta~r+ and a..e..mtnt. anJ inwrancr prcmium.. a~ ~hc ~a~r n~;~y t~t. wch e~c~~~ at ihr op-
tian ut IF?r mur~~;agrr. ~hall_ tk creditrd on .uh.ryurnl p:~y mrnt. ta ht maJr hy Ihc mu~tgagur. ur rrtunJed t~~ ~hr murlg.?gur. If. M.W r~rr. ~he
monthl~~ pa~ mrn~. mad~ h~ Ihr mortgagur undtr 1 M~?f {wr,~graph prccrdin~; .hall n~~t t+r ,utlic~rm tu paY Bruund rcr.t~. 1a~r~ and a..e.,meot~
:md imur~:i~~ pr~ miam.. a. thr ra~c may ht. Hhrn ~hr ~amr ~h:dl hr:~~mr Jue :~nd pa~ abk_ thrn ~ht murtgagor ~hall pay to 1he m.xtgag~t :my
amvunt nt~r~~~n~ tu mal.r up Ih~ drfici~nc~ ..~n ur hrturr 1!x J:ar w hcn p.~> m~nt ~~t .uch gruunJ rcnt., ta~r., a..e.~mrnh. ur in.urancr prem-
~um. +h.Ji t+r Jue. I( a~ am timr Ihc mortga~;.~r .hall trnJcr t.. ~hr mung:sc~r in accurJance with thr pru~ i.i~~m of Ihr ni~t~ «tiurtJ hereb~•. tull
pa~ ment uf IFk rnurc indrbtcdn~.. rcprr+rntrJ thrrrhy. thr mortg.~gc~ .hatl. in ~umputing thr am.wnt uf .uch indrbttJnr+~. crtdit ti~ Iht ar-
~.wnt u( tha: muril;.~~ur all pa~mrnt. maJr unJrr thc pra~i.ium uf Ia1 ut par.~~;raph' herruf which thr mart~agee ha~ nut fxti:~~mr ubligattJ to
~+:~y to thr Sr~rctan .~t H.w,ing and lirban Ik~~l.~pmrnt anJ :~ny h,lan~r rem:unm~: in the funJ. accumuialru u~wlc~ t~.e pr.:: ~:;:ti,^.; a~ : ht
s:?id prra~,raph'. If ~I?ere ~hall he a defauU urxier am ut !Irc pro~~i~iun~.,f thi. mur1~;.~~:e. rrwl~in~e in a puWir sak ut ~hr premi.e~ co. rred hrre- _
hy. ur if tht murlEagtt a~yuitt~ lhe ptuE+erl}' uthetw ix after default. Ihe murtgagee ~hail apply. at the time uf tht cummrnctmros .~f ,uch pru-
creding, or al tlx time the pro~+er1~~ i~ uttxrwi.r ac5ui~td. thr t•:.!ro~Y tht~ remaining:n ~he tunds ~ccumulatrd urnler Iblot p:uagraph' preced-
i~, a. a creJil againc~ ~t~t amuunt uf principal thtn rrmaining un~+;~id under ,aid notr and ~F?:wll properl~~ :nljust any p•r~ menu W hirh .hall havt
heen made undrr 1 al ut caid patagraph.
3. "Ihat hr will ra~ aU ta~r~. a..e.~mrnt._ watrr ratr. and uehtr ~;uvernmrn~:J or munici~+al chargrc. hne.. or impo.itium. tor Khich ~+ro-
~i.iun ha. not t+tcn madr hrreinhrfur~. anJ m JcLwd thrrr~~~ thr m~~rt~:~grr m:~~~ pay the .ame: anJ Ihat ht Nill prumpth ~li~er Ihr •~flicc+l
re:ript. thrrc(ur tu thr mort~::~~!Ca ~
"I~h~t hr w ill prrmil. commit..~r wtlrr na Na.tr. imp.~irmrnt..+r Jrtcrior.~tiur of raid pruprrt~ or •rm {+rrt thzrcuf _:nJ in tht rvrnt uf the
(ailure of Ihr murtg~gor ta Aeep ~t*r bwlJing...n .:wiJ prcmi,~. ~nJ tho~e to hr errrleJ on ,aiJ prrmi.e.. ur impravrmrM. thrreon_ in gixKi re-
pair. Ihr murl~:+gtr ma~ ma~r wch repain a, io it~ di.crrtiun it may Jeem nere.~•rry for the pru{+er prr..rn atiun thrrrof. :mJ thr full amoun~ uf
rach and ever~ .u~h {u~ mrnt ~hall he immrdiatrl~ Jur and pa~ahk. anJ .hall h~ ~ecurrJ by Ihr lira oi ~hi~ murtgc~~r.
b. "fhat he w ill ~y :dl and ~in~tular the ci~.h. rhatgt._ anJ e~prn~e.. incluJing rea.onabk lav?yer'c feec. and ru~ts of ah~tr~ct~ o( titk. in-
.urred ur paid at am• lime by Iht murtgagr~ hrcau.e u( ~hr failurr ~~n the part of the mort~gix prumpth and (ully to per(orm ihr a~;rerment~
:~nd co~~nanh of w~d promi.wty nutr a~J thi~ muttg:U;t_ anJ .aiil co,h. char~tr~. :mJ e~prmt~ ~hall i~t immediately Jue anJ pay•rhle and ~h:~11
t+r ,rcurrd hy thc lien ot thi. mort~.agc.
That Ix ~ill keep th~ impr.~vemcnt. nuK r~i.linga~r hrre~(ter rrected on ihr murtgaged p:upttt~. imurtd a~ may tk reywrtd fri~m time
tu time hy the mortgagrr ag:.in,t luti. h} firr :ind athrr ha~atJ~_ :~+sa!!?~~ ~~nJ atir.rt~cie. ez •.urh ::s.^.ount. anJ for wch ~+ari.xf, :t. ma~ hr
rtyuired h~ murtgagtr_ ~nd will pa}~ promp~h . whrn due. am• prrmium. un wch inwrancr for pr~ mrnt ut .?hich pro~i.ion ha, not t+ern madr
herzinhrfurr. All imurance ~hall hr carrirJ in rumpanie. appro~rd h~ mort~::~gee and ~F?e ~wlicir. and rrnrNah thrrr~?( ,hall he hrld hr mortga- •
ete anJ havr attachrd therelo lo.~ payahle .:Isu.e. in fa~.x a( and in form arceptablr to tF~r m.~rtgagee. In event u( I~..e he w ill ~i~e immrdiate
nwke b~ mail to murlgagte. and mor!g:~gee may make preot of lacc if not maJe promptl~~ by mortgagor. aod each inwranre company con-
rernrJ i. hereby awMttiird aod Jirtcted to make p:wyment tix ~uch k~+s dirccUg to mony-?~tee in,te•rd ot to mort~:agor anJ mortg:?Fer juinUy .
anJ Ihr ~murance pru~red~. ur any {+art th~rrof _ may t+e applitd hy murlg:?gee at iK option either to ~he reJuction a( the indehtrdne~+ hereby
.ccureJ or to ~he rc.turation or rcpair i.f tF~e property damaFrJ. In e~•cnt uf (oreck~wre ut ~hi~ murtga~e or other tramfer ut title to Ihr mort-
E,:+geJ proMrt) in e~tin~;ui.hmrot e~( the inJrhteJne...tcurcd herrby. :+II ri~;ht. titie. :md interr~t «f the mort~:agor in anJ tu any imurance ~x~li-
cir~ thrn in torce ~hall pa.~ to the purrha~tr or grantre.
R. R~at if the premiu._ or any part thrreof. tx condrmnrd unJer :~ny M?Ner o( eminent Jom:~in. or acyuirrd for ~ puhli~ u.e. ~hr Jamagr..
pr.xreJ~. and the con.iJcration for wch acqui.itiun_ to Ihr e~tent o( Ihe tull amuum of inJehteJne.. u~xm Ihi. \turtgrgr. anJ thr \utc ~ecureJ
hereh~ rcmaining unpaiJ_ are hcreby as.igneJ hy thr ~t~.rtga~ur to thr ~tortFa~ee anJ .ha{I he paiJ (urlhw ith to Ihe ~lurtgagee to be appli~d hy
il un acawnt u( the inJebtene.~.ecured hereh~~. whether Jur or n~~t.
'1. "(hat thr murtgagec ma~ . at any time penJing a wit u~x~n thi, mortE::~Er. appl~~ ta thr raurt ha~ ing juriufictian thrreo( tor Ihe ap{x~int-
ment ut a reteiver_ :md wch amrt .h:+ll tonhwith appvint a rccriver ot ~he prrmiuti co~ereJ hereh} •rll and.ingular. io~luJing alt and ~ingular
the ?nrumr. prafit+. ic,ue~_ aod re~eour~ (rom whrtever ~.~urce Jcrived. rach and even uf whKh_ it htin~; r~pre..h~ under•t.x~J. i. hereb}~
~ murt~:+eeJ i( .{+tcificalh .tt fi~rth ~nJ de.~riheJ in the ~ranting anJ hatxndum clauus he~tof. and ~uch recei~er .hall ha~ r.dl thr hroad :~nd
~stectiv~ funrti.~n. anJ puMer~ ~n :ioyNi.r entru~lyd h?~ a ci:urt ta a rrcciver_ and ~uch a~puintment ~hall F+r made M.urh ~uurt a+ an admittrd
eyuit~ anJ -r matlcr of aMulutr ri~ht t~~ .aiJ murtga~:er_ anJ with.w~ re(errnce Io Ihe ~dcyu:rcy ur inaJzyua.y of Ihe ~:~lur o( Ihr proprr~~ m~~rt-
er~rd or t~~ the •uhrncc ur in.uhrnr~ uf .:ud mart~::~i~+r or tFx Jr(rnJ:m~~. :md that .uch reot.. prufil.. mcumr. ~•w~.. .~nJ rr~rnut..h:~tl h~
applied h~ wrh receiver accurJing ta ~he lien ot thi~ murt~:age aed Iht practire of wch awrt. In thr z.em ~~f am Jefault on Ihe part aE tt~r murt-
' gagor htrcunder_ Ihe murt~:sEur airer. ta p::y t~ the mort~:~~;re on Jem.,~~J a~ a rta~unahk munthly rental fur the premi~e.:in .~muunl :d ka~t
~ ryui~alem tu.~ne-1wr1(th 111CI u( thr acF;regate of Ihr twelvc munthly im~rltmentc payabk in the then ~urrent ~car ptu~ the actual amuunt at
~ 1tK .~nnual la~c.. a.~c~~mrah. waltr rate~. and in.ur.~ncr premium~ for ~uch qeat not covereJ hy the aforr~?iJ monthly ~+r~ ments.
~ t11. That 1~1 in the e~en1 of any hre:~ch af Ihi. m~.r~~:age ~.r dr(ault un lhe part of the murtg~gor. or Ihl io the e~ent Ihat :~m of .:iid .um, uf
munr} hrtcin re(errrd ti~ he n.tt prump~ly :+nJ fuli~ p.~id withiw~ Jemaod ut no?ice. ur Icl in the evrnt Ihal each a~J e~rr~ the .tipulatiun~.
e~rrtmrnt.. condili~~m. anJ cu~an:~nh uf .aiJ rn~tc anJ thi. murt~gr. are no~ July. prompth~. anJ fully prrformeJ: th~n in rither or an~ wrh
e~ rnt_ the .aid :~l:~:rrg:ur wm mcnliunrJ ~n ..iid n~Hr Ihrn rem:~ining unpaid. with intere.t accrued to thal timr. and :dl monep..rcureJ hercl+~ _
.h:J! hrcumr Jue anJ p:~~:~hk furihw i1h. ~~r Ihrrra(tcr_ al the uptii?n ot ,aid morlg:+¢er. a~ (uil~ anJ rumpletel~ a. if all thr .aiJ .um~ u( mun-
~ r} wrre ~ttiginall~ ~IipulateJ Iu F.r p:~iJ on .uch d:+y_ anything in s:~id nute or in Ihis murtga~:e to Ihe rontran notwith.tanding: ~nJ thrreu{x~n or
~ tbcrr.~ftrr. at thr ~~pt;.~n ut .aiJ mur~g:~~:ee. w hhout notice or Jemand. wit at law or m eyuity. may he pro.erutrJ a. if aIl money ~ aecurrJ here-
~ h~ h:~J m:~turrJ prior i~• il~ imtitut~on. Th~ murt~:aerc ma~~ fureclo~e tni, murtg:?Ee_ a.lo Ihe amount u, declared Jue and pa~ahk. and 1he S:+=J
~ prrm~~e~ ~hall tx ~i~W lo ~:~ti~f} anJ p:~y ~hr .amr to~eether w i1h co.t._ r~peo~e._ anJ .dl~.wanrec. In c-r.r of partial fureclowrr of thi~ mortgage.
thr mort~ged premice~ .h:Jl t~e..~ld .uhjec~ ~o ~he cunt~nuing litn o( ~hi. mu:tgngr fvr the amount of the Jeh1 n.+t then Juc anJ unpaiJ. In wch
l'JK' IFK (~f0~ h1O11~ PF IFII\ ~1:IGI~:f:f~1F1 ffld)~ Jcain he a~ riled ~~f Ihrre:dter from time io lime bq Ih~ mortgaget.
I I. That the mortga~:or will gire ~mmrJ~:rtr nutire hy mail to tix mortE.a~ee o( an~ con~eyaoce. ~ran~(er_ or change of rwnenhip of the
prrmi~cc.
1'. ~~hat rn~ wai~er of am cu~cnanl hcrrtn ix of Ihe ohligatiun ~ecured bereb)~ ~hall at any time therca(ter he hcld to tx a waiver of the
term~ herea( or of the notc «currd hereh} . O ~~11 ~(~iJ`j4
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