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Home My WebLink About0754 'Ihal, in urdcr murt (ully lu prutrcl Ihr.t.unt~ ut ~h~~ muneage. ~hr muub.,gur, lugrthr~ w~Ih..u?J in.~JJu~~~n tu. thc m~~n~hl~ paymrnh unJer ~hr ttrm+~?f ~hr notr ~rcurcd hrrrhy. an ~tK fint Ja1' rach m.~oih un1i1 ~hr ~aiJ nu~r i+ (ult~ paiJ. will pay tu lhr mort~;.+~;rr ihr (uU.~N - ~ng .um+: lal .An amuuol .ulficirn~ w pru~iJe the hulder hrrro( Mith (unJ~ ta paY Ihc i~r~t mu~lga~;r imur.~ncr prrmium i( Ihi+ imuumrnl and Iht nutr .ecurcd hrrrh~• are inwrrJ. or a munthly rh.~rgt 1i~ Gru a( a mun~;agr iowran~r prcmiuml i( ~I?ty arc htlJ hy ~hr tirrrrt:u~ ut ~ Huu.in~anJ Urban ikvrlupmrnt:~, tulluw+: ' 111 It anJ .u lung a. ~aiJ nwe u( even Jatt aoJ ~his imtrument ~rt inw~rJ or are teinsureJ under the ptuvi+iunc ot Ihr Naliunal . Nou+inb Ac1. an amuunt ~ulf'irienl to accumulatt in Ihe hrnJ~ uf the hohltr une 1 U mi~nt6 {*rior to its due Jate 1ht :ennual murt- , gage in.urance premium, in otder to pro~iJe +uch Aoldet with (unJ~ w pay cuch ~remium tu tF?e tierrrlary of Hou.ing ~nJ Urban Ik~•elupment pur~uant to the National H~w~ing Ac1. ac amenJed. anJ applicabk Rtgula~iun. thereunder. or IIU It anJ .u lung ac caiJ nute ot tven Jate •rnJ ~hic imtrument are heW hy ~hr Seratary of N~w.ing anJ l!rban Ikvtlupment. a monthly rhargc lin lieu ot a morlgage imuranre premiuml Nhirh .hall he in an amount ey~e:,l to une-~wel(th I Il l21 ui une-h:df 11/'1 ptr rtnwm o( the aver•rge uutstanJing t+:dance Jue un the nWe cumputed wilh~wt t~kinE intu ar.oum Jrlinyurncir. or 1 . 1 p~epaymtnt~; lhl A.um eyual tu thc gruunJ rrn1~, it •rny, nttit dur, pluc the premiums thal will ne~?1 becume due anJ payabk on pulirir~ ut fire and ~r ~ lHllif I1:IZJRI IO~OfJOI'i l'OYet10~ llli OlOflg:l~,'ftI p~0{1tf1y. PIU~ lAtCt :fIW :1~St5[fI1C011 OC\t UUC U~I IIK mwtbugcu ~~iv~wiiy ia~i u~ C+:i- mated by the mortg:~tel lec. all wm~ :dreaJy paiJ Iherefur Ji~ iJed by Ihe number ot monlhc to elapst before ~~ne monlh prior ti~ the Jalr Nh~n_such gruinxl_rentc. premium.. taLe.. anJ a.c~stimenl~ witl t+tcome detinquent, sucfi sums to t+e held by mor~gagce in tru.~ _ _ _ . _ ~ to pay .aiJ grou~xf rents. prcmiums, ta±ees, and spn:ial a~ces~men~s; anJ Ic1 All payment+ mrntioned in ~he two prtceJing wbsectiuns ot this pa~agraph and all paymenls to be maJe u~dar the nwe .erured here- hy shall t?e added 1~ether and Ihe aggregatr amount lhereot +hall be paiJ by the mortgagor rach mon~h in a~ingle pa>•ment w tx ap- ptieJ by the murtg:~ce to the folluwing items in tht order set torth: (U premium cAarges unJer Ihe cuntract ot insurance wi~h Ihe Secrctary ot Huu.ing and Urb•rn Devel~~pmen~. o~ monthly charge (in liru uf murtgage insu~ance prcmiuml, as the case may t+e: 1111 grounJ rents, ta~ec. a,+escments, fire. and othtr h:~ard inwra~ce premium.: 1111 interest on the note secureJ hereby: a~i IIVI amortiiatiun uf the p~incipal ut said nwe. Any Jefiriency in the amount ~t such :~gr~gate munthly p~ymrnt ,hall, uNes~ made g~xxf by the mortg:+gor prior to the due date ot ~hr nert wch p:iyment, comtitute an event of default under this murtg:~e. The mung:?Kee may culkct "late eFwrge" not to exceed tw~o cents Ilcl tor each doll•rr ISI1 ut rach p:?yment murc than fitteen 1151 Jays in arrcars tu cuvtr Ihe ertra expense involveJ in hanJling Jelinquent payments. 3. That i( ~hr total of ~he payments made by the murtgagor ur?der lb) of paragr•rph'_ prece~ling shall exceed the ~muunt ut Ihe payments y.-~~:,~~~ ~n3.lr hv ~~l~gge. tna cr~un~ rent~. taxu and ~±s~+~m~nt~ aixf insuranct Q~emiums, as thr case may t+e. wch e~cesx at Ihe op- tion ot the mortgag~e. ~hall, tx credited on ~ubsequenl payments tu be m•rde by the mortg:igor. or ret~nJed to the mortgagur. If, tn~w•ever, the monthly payments made by the murtg:~or wxier lbl of paragraph 2 preceJing shall not be sufficient to pay grounJ rents, taxes and assessment+ and inwrance premiums, as ~he ca,e ma~• be. when the same sh•rll becume duc and payabk. then ihe mongagor ~hall pay to the mortgagee any amount necz,sary to make up the Jrficieocy. on ur beforc th~ da~r when payment ut such grounJ rents, taxes, assessmems, or insurance prem- iums sh•rll tx due. I( at any limz ~he mor~y~gur shall tender to the mortgagee in :kcordance with the provicions of the note secured hereby, full p•ryment of the zntirr inJebteJnecc represented therebp, the mortg-rgce ~hall. in computing the amount of wch indebteJness, credil to the ac- ccwm of the monE.agor all paymrnts made u~xler Ihe pru~~isions oi !a1 of paragr•rpA 2 h~rco( which the mortp,agte has nut become ot?ligated to pay to the Secretary of H~wsing and Urban Uevelopment anJ any hal~nre remaining in the fmxls accumulateJ under 1he provisions of lbl of said paragraph 2. If there shall he a default urder any of 1ix provisionsof this mortgage, tesulting in a puMic s•rle of the premi~~ ro~errd herr- by, or it the mortgagee acquires ~tx property cuherwise after detault, the mortgagee shall apply, at the time of the commencement uf wch pru- ceedings or ttx time the propeny is otherw ise acquired, the balance tfxn remaining in the (unds accumulated under l b) ot paragraph'_ preced- ing as a credit against the amuun[ of prini-ipal lhen remaining unpaid under caid nott and shall properly adjust any paymenls which shall have been madt u~uler (a) of said paragraph_ That he w~ll pay :JI l~te~. a.,e.+ment.. waier ratz~. anJ aher guvernmental or municipal charges. fines, or impositions_ for which pro- vi.ion ha~ not heen madr herrinF.r(ure. and in Jet~ult thereo( the mort~:~gee may ~+ay the .amr: and Iha1 he will prompdy Jelivtr the ottirial receipt. ~herrfur to the murtgager. S. Tha1 he will permit. cummi~. ur .utier n~, w-•rste. impairment. or Jeteriuration ot ~aid property or any part lhereot::+nJ in thz event of ~he failure ~~f the mortgagor to keep the buiWinF~ on wid premise~ and Iho~e t~~ t+r erectrJ on wid premi~es. or impruvement~ ttxreun_ in g~xx1 re- pair. the mortg:?gre ma~ make wrh rep:~ir. ati io itsJiscretion it may derm neres,ary for the proper pre,erva~ion there~~f. and Ihe (ull amuunt ot rach anJ every such paymem tihall hr ~mmeJiately Jue and pa} able. and .hall be cecureJ by tht lien o( this mortgage_ 6. That he will pay all and singular the co~t~. charge~. and ea{+enceti. incluJing rtaconabk lawyer's fees. and costs of abslract~ af title. in- curred or paid at any time hy ~he mur~~gee lxcause o[ th~ (ailure on the p~rt of the marigagor pra~mplly anJ fuUy to perform Ihe agrrements and rovenants of said promissory nute and this mongage. ~nJ ~aid co~ts. charges. ~nd eipenses shall tx immediately Jue ~nJ payabk and ~hall ' t+e +tcureJ by thr lien ot Ihis mortg:~ge. ~ 7. That he will kerp thr impruvemenh now r~iving on c~reafter ercctrJ un the mortgaged property_ imureJ a~ may bc requircd (rom time 'r tu time bp the mortgagee ~gain~t lo.s hy fire :+nJ Wher hazarJti. casualties_ and cuntingencies in wch amount~ anJ for wch ~riud~ ac may t+e ~ ~ reyuired by murtgagez. :mJ will pay prompdy. when Jue. any premiumti on wch inwrance (or payment of w•hich provi+ion ha~ not t+een made ~ y Ixrcinhefore. All imur:~nre ~hall t~ r:~rrinl in companie~ appruveJ by murtg:?gec ~nd Ihe ~x~iicie~ and re~ewal~ thercaf shall be held hy mortga- e gee :+nd h•rve altached thereto loc~ pa~~ahk clauxc in (avor of anJ in form acceptable to Ihe mortgagee. In e~ent of locs he will give immediate ~ nutice by mail to mortgagee. and mortgagee may make prcu~f oi liisc if nal made prompUy by mort~tor. and each insurance company con- ~ cerned i~ hereby authoriieJ :,nJ JirecteJ to make payment for such bss directfy to mortg:+gee instead of to mortgagor and mortgagee jointly~. ~ anJ the inwranc~ ~rocerJc. or any part thereut. may t?e •rpplied by mongagee at its option either to the reduction of the indebtedness hereby ~ securrJ ur to the re.toration ur repair ot the property damaged_ In event ot torccbsurc of this mortgalte or aher transfer o( titk to the mort- t;agrJ pro~xrt~ in r~iingui+hment of the ir::tehicdne« securc3 !:c:.-h3•. a!! ri~ht. title. arn! inttrtst of the mortgager in anJ to any incurance ~~li- ~ cieti then in force sh~ll pa.~ to the purcha~er or gr•rntee. R. Tha1 i( the premiuc. or any part Ihereo(_ he cunJemneJ unJer ~ny ~wer of eminent domain. or acquired (or a pub:ic use. the damages. pruceed~. and the c~*n+ideration for such acyui.ition. to ~he rxtent of the (ull ~muum of indebteJ~e~s upon this ~longage. •rnd ~he Plute secureJ ~ hereby remaining unpaid. are hereby as:igned by 1ht ~lortgagor tu the Mur~gagee and ~hall tx paiJ torthwith to 1he Murtgagce to be applied by it an:ui~untof_lheindehlene~~C~WSS~erehy. Nhether due or ncu. ~ 9. That the mortgag~e may. at any time pending a wi1 u~wn this mortgage. apply to the court having jurixliclion Ihereo7~#-or t~int- ment of a rcceiver. and such ccwrt shall fonhwith ap~int a receiver of Ihe premixs covered hereby all and singular. including all aad singular ~ ~he income. profits. iseuec. and revenues trom wh:~tever source derived. each and evety at which. it t+eing exprcssly understuod. is hercby ~ murtgaged a. if +pecifically cet (orih anJ described in ~he granting anJ hatxnJum clau~es hereoL and such receiver shall have aU the broaJ and ~ rtfective (unction. and powen in anywise entru.ted hy a coun to a rcceiver. and wch appointment shall lx made by cuch court ac an admitted ~ equit~ and a matter o( abtiolute right to vrid murtg:~gee. a~d with~wt reference to the aJequacy or inadequacy of the valuc of Ihe pruperty mort- ~ gageJ or tu the wl~•enc~ ur in~olvency uf .aiJ murtgagor or Ihe Je(enJanb. anJ that wrh rentc. profitti. income. is.uec_ anJ revenue, tihall t+e - •rpplieJ by wch recei~er according to the lien o( this mortgage and the praclice of wch court. In the event o( any defa~lt on the part of the mon- :E` g:~~on c~reunder. the mortgagor agree~ to p:.y to the mortg,aget on demand as a rtasonahk monthly rental (or 1he premius an amount at ka~t ~y~~i~aknt to iu~e-twelf~h t 11121 of the :?~re~te ut !he twelve monthly intilallments payabk in tF~e Ihen current year plux the actual amount c~f ~ ~ ~he annual ta~eti. •rssessments. water rate~. anJ inwr:+nce premiums (or wcb year nW covered by Ihe aforesaid monthly payments. ~ 10. That lal in the event ot any brearh o( thi~ mort~ge or defaul~ on ~he part of the mongagor. or Ib? in the event that any of ~aid sums of ~ money herrin referreJ to t+e not promplly and tully paid withcwt demanJ or notice. or Ic) in the evrnt lhat each and every Ihe stipulatiuns. ~ agreement~_ conJitions. ~nd covenants o( ~aiJ note anJ Ihie murt a e_ are not dul rom tl anJ full • r(ormed: then in either or an ~ wch ; R'K Y•P P Y-' Y De ) evenl. the c:+iJ a~regate sum meniioned in wiJ nute then remaining unpaid. with interest accrued to Ihat ~ime. anJ all moneyti secureJ herehy. ,h~ll hecume due and payahk forthwith. or thereafter_ at Ihe option ot said mort~ee. as (ully anJ comp~etely a~ i( all ot the said sumx of m~~n- j ey were uriginally stipulateJ ro he paiJ o~ wch day. anything in s:+iJ n.Hr or en this mortg:+ge to ~he contrary notwith.tanding: and ~hereu~x~n or thereafter. at the option ot caid mort~rgee. w i~hout M~tice or demand. ~uit at law or in equily. may be prosecuteJ a~ if all moneys secureJ here- ~ ~y hy bad m:NUred prior to its in.litutiun. The morlgaRee may furcclote Ihic mortg,age. ac to the amount so Jeclared due •rnd payabk. anJ the s:~id ~ pr~mikc ~hall t?e wW !o ~a1i~(y and pay the .ame toge~her with coct~. e~~+ense~. :md allowancec. In ca~e o( panial (oreck~sure of ~his mongage. ~ tbe mortgaged premitiec ch:Jl 4.e ~oW tiuhject tu ~he cun~inuing lien i~f thi. mortg:,ge for the amount of the Jebt nw the~ due and unp~id. In .uch ~ c~ce the pro. i~ions of this p:~ragraph m•ry :~Eain he a~:~ilyd ot thereatter trum time to time by ~he mortp,agee. I I. Tha1 the mort~:agur will give immediate no~ice hy mail 1o Ihe murtg:,gee o( any conveyance. transfer. or change of ownenhip of 1he ~ pr~miaes. ~ I~. Tll:ll Ml KJIVCf Il( an~• covenant herein or o( the uhligaliim secured hereby .h~ll at any time thereafler he held to he a w~aiver of the term~ hereo( or of the note .ecureJ herehy. O R~~~ ~ BOOK FAG[ ~ : , . , , - ~ <~,~_3. . ~ ~ _ : ~~b,*~,~,~a