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Home My WebLink About1004 I hat. m urdrr murr luu> tu pra~rc~ ~nr .ccun~y . undr~ thr trim. u( 1hr n~~ir ,rcur~J M~~h~. un thr hnt da~ u( r:uh mun~h unul iht ~.~id nutr i~ (uUy paiJ. M~II pa~ ~u ~he mu?~~;:16CC IIM ~UIIuM'- ing ~um~: 1a1 An amuunt ,ulfi~irnl tu pru~idr ~hc halJtr hrrra( Nilh funJ~ tu pay Ih~ nr~1 mur~~:a~;r in.uran~r pr~mium i( ihi. in.trumrn~ anJ ~ht nuta ,rru~rd hrrrby arr iowrrd. ~~r a munlhly .har~;c lin liru o( murtga~;r in.wan~r prcmwml i( ~hry arr hrlJ by ihr tir.rrtar> af Huu.ing anJ Urban ik~~lapmrnt a. ta~luM~: Ih If anJ lung a~ +aiJ nuta i~tn datr anJ thi~ imtrument ara in.urrd ur ~rr reimurrJ unJar Ihe pruvi.iun, ut ~hr !v:ai~~n•~~ Huu.ing :\rt, an amoun~ wt6cirnl w acrumula~r in ~he hand. u( ~ht huWrr unC 111 mao~h prior tu it. Jur da~r ~hr cmnual murt- ~a6e imu~ance premium. in utJtr ~u pruYiJe wrh holder wi~h (unJ. iu pa)' ~u:h pt~mium lu ihr Srcrcl:uy u( H~w.ing anJ t!rban l~velupmrnt punu:mt w ~hr Natiuoal Nuuting A~1. a~ amendtJ. ~nJ applicabk Regulatian.lF?ir~undzr. ~~r 1111 I( and w I~~ng a. ~aiJ nutr u( zvrn Ja1e and thi. in~lrumen~ a~e heW by the tircrctary of Ni?u~ing :mJ Utb:~o Ikvrlupmrnt. a munthl~ clwrge lin lieu o( a murl~e imurancr premiuml which +hall hr in an amuun~ ryual t~~ unr-~wclf~h l lll'1 ~~f une-halt 111?1 {+rt cenlum o( lhe averagt out~lanJing balanct Jue un Iht outr rumputed wilh.wt takin~ inlo a..uunt Jrlinyuen.ir. ~x prepryments: Ih1 A.um tyu:d lu 1he g~uunJ rent~. if any, ne~l Jue. plu~ Ihr prtmium~ ~h:?t will nr~l hecume dur :mJ payahk un {+uli~ir. ~~f tire and ulher haiard imurance c.~~~rrin~ Ihe murlg~grJ praprrty, plu. taties anJ ~~~s.menu nc~t Jur on Ihe mu~tg:+geJ pru~xrly lall a. e~~i- matrJ by Ihe mun~;ageel le.s a~~ wms alrrady p:iid thercfur JividrJ hy 1he numlxr ~~t mumM to el~pce ixfore onr munth prior t~~ ~hr date whrn wch grouml rrm+. premium.. ~~~ec. and a.sr~.mtnts will t+e~ome Jelinyurn~. w~h +ums ~o t+e heW hy m~~ngagee in tru.t to pay wid gruunJ reots. ptemiums, ta~ts, anJ ~pccial a~~a~~mentc; anJ Icl All payment. mentiunrJ in thr tw~i prerrJing,ubcectium of ~hi+ paragraph and aU p•ryments to t+e maJe unJer the nute ~ecureJ here- hy +hall I+e added tugethrr anJ ~he a~regate amuunt ~hereof ~h:~ll he paiJ by the murt~gur ea~h munlh in a.inglr paymenl tu hr :~p- plied by thr mortg~gee tu thc fa11uN ing item~ in the urJer .et (orth: 111 premium chargrc unJer the contra~t ot in.ur~nct wilh Ihr Secrctary ot Fiiwtiing ~nJ Urt+an ikvtlupmrnt. ut munlhly chargr lin lieu uf murt~e imuranre premium). ac thr ~a.e ma;r ix: 111) gr.~wxi rentc, ~axec. a~.ts.ments, fire, anJ u~her har.ud in,ur•rnce prrmium+: 1111 intertst un the note xcureJ hereby::+nd IIYI amurtir.ation of ~he principal ot tiaiJ nute. Anp defiriency in 1he amount ot cuch :+y~regate m~~mhly paymeot .hall. unle.. madr g~~xl b~' the murtgagur prior tu the du~ Jatr ut the ne~t wch p:+yment. romlitute an e~•em af default urxfer 1hi+ murt~gr. 'll~ murtgager may collrct a"la~e ~h~rge" nw to eueed tw~~ rrnt. i_'c1 tur each Joll•rr ISII of each payment murc than fitteen 11~1 Jay+ in arrear. a~ cuver ~hr eatr:~ r~{+rnce involveJ in hanJling Jelinyuent pa~~menh. z. That ii ~he towl uf ~t?e payments madc b~~ the mort~gor ulxfer lM o( p:~ragraph ' preceding sh:+ll rxcetJ the amuum ~~f ~hr payment. actually made by the mong•rgee. for ground rent.. ta~rs and a~se~sment+ anJ inwrance prtmiums. as the ca~r may tx. ~uch e~~es+ at the ~~p- tion of ~he murtgagee. shall. t+e c~editeJ on wb~equent payment. to t+e maJe hy the mortgag~~r. or returxleJ t~~ the murtgagor- If• hawe~•rr. thr monthly {+aymtnts maJe by the mortgagor undrr 16) ot paragraph 3 precrding ~hall not br sufTicient to pay grounJ rent~. Crxes and :++se.+ments and insorance premiums, as ~he ca~r may be. Nhen the wme shall txtiome Jur and payable. lhen tht morlg:~ur ~hall pay tu the mortg~gre :my amount necessary tu make up the Jeficiency. on or hefore the date whrn prymenl ut wch t ruunJ rent.. t~~es, a~se~sments. or inwranre prem- iums chall he Jue. If at any time the mortg:+gor +hall tenJer to the mortgagee in xcordanre wilh the provisionc of Ihe nate ucureJ h~reby. full payment of Ihe entire inJebtrJne.. representrd thercby. the murtgagee ~hall. in compu~ing the amount ot wch inJebtednesc. cr~dit to ihe ac- count of the mottgagor all p•ryments maJe ur?der Ihe pruvi.iom of la1 of p•rr~graph 2 hereof v?hich the mort~gee has not t?ecome ubligated to pay to the Secretary of H~wsing a~d Ufian [kvelopment ~nJ any t+alance remaining in the funJ. accumulateJ under ~he pruvisionc of IM ot +aid par•rgraph 2. It therc shall t+e a default under any ut the provisionc ot this mortgage. resulting in a puMic salt of tt~ premi.e. ru~ rred here- by. or i( tlx mortgagee acyuires ~he prupeny otlxr~~ise aiter detault, the mortgagee shall apply. at the time of the a~mmencrmrnt ut .uch pr.~- , ceedings or at ttK time the properry is othenviu acquired, the balance then remaining in the funds accumulated under 1 b) ot par:+graph preced- ing ac a credit against tFx amuunt of prirx:ipal then remaining unpaid under said note and shall proF+erly adjust any payments which .h~ll h:+ve txen made under la) of said paragraph. ~3. Th•rt he w ill pay all tarec. ~~.e~cment~. water rate+ anJ olher eo~ernmental or municipal rhargr.. finr~. ur impo.itiun,. tor whi.:h pro- vi~ion hac nut t?een maJr hereinhrfure. and in Jrfault there~•f the murlg:+gee may {u~• ~hr .amc: and th:d he will prumpUy Jrlivcr Ihr .~dicial rereipt~ theretor t.? thr murtgager. S. That he wilf permit. rommit. or ~uHer no wa~te. impairmrnt. or deterioration of saiJ pro{?erty or any p:+rt lhereot: and in the errnl ..t thr failure of the m.?rtg•rgor to keep the builJings on wid premiceti anJ th~»e to 1?t erectni on wid premi.r+. or impru~ ement~ Ihereon. in g..ud r~- pair. lhe mortp,:~ee may make wrh repain a~ in it~ Ji~crelion it ma~• Jeem nececsary tar Ihe proper preservation therent_ anJ ~I~ tull amuun~ of each anJ ev~ry wch paymen~ tih~ll be immediately Jue and payable- a~d chall be secured by the lien of thic mortgege. 6. That he will p:+y all rnd ~ingul•rr the co~1~. charges. and ex{+enses. including reasonabk lawytr's tees. anJ cotts ot abstractti ut tilM. in- curred ur p:?id at any time by 1he mortgagee hecauu af Ihe failure on the part of the mortgagor prompUy and fully to pertarm the agreement. and covenanh of saiJ promis,ory notr and thi+ mong:+ge. anJ .aid cmt~. charges. and expenses shall t+e immedi:+tel~~ Jue and payabk and .hall ' t~ ~ecured by the lien o( this mortg:+gr. 7. Thrt he will kerp the impr~~vement. now e~isting or herratter errcted on the mortg:+ged property. in.ureJ a~ may he reqaired trom ~ime ~ to time hy ~he mortgager against lo~s by fire :ind uther haiarJ~. cawalties. and rontingencies in such :~muunt, and far .uch prriixi~ ati may he reyuireJ by murlg:?gee. :+nd will pay prompUy_ when J~e. any premium. on such in.urance (or payment ~~t which pruvi~ion Iw+ nu~ heen maJe ~ hereinhefixe. All inwranre ~hall t+e carried in rompartie~ approveJ by mortgagee anJ ehe Mdicies and renewal. thereot ~hall be helJ by mortga- gee :mJ have attached thereti~ lo~~ payahle claux~ in favur ot anJ in torm acc~ptabk to the mortgagee. In even~ of lu~~ he will gi~~e immrJiate notire by mail to martgegee. and mortgagee may make proof o[ loss if no1 made prumptly hy mortgagor. anJ each inwrance cumpany con- cerneJ i. hereby authori[ed anJ direcled to make payment for wrh lo~c directly to mort~ee inste:+d ot to mort~gor anJ mortg:?gee joinUy. and Ihe imur:mce pnxeedc. or any part thereof. may i+e applieJ b}• mortgagee at its option either lo the reJuction of the indehtrJne.~ hereby cecureJ ur to the rextoration ~r repair ot the properry JamageJ_ In event of toreclosure of this mortgage or other Iran,ter of tiUe to the murt- FageJ propert~ in r~tinguiihment of the indebtedne~ti ~ecured hereby. all riE,h1. tiUe, anJ interest of the mortgagor in anJ to any insurance ~~li- ries then in tarce ~hall pas~ to the purchaser or gs•rntee. 8. "fhat if Ihe premises. or any pan thercof. be condemned under any ~x~Mer i~f eminent Jomain. or acquireJ for a public ux. the Jamage~. pnxeeJ~. and Ihe a~ncideration (or sueh :Kyui~itiun. to the c~tent ot the full amouN of indebtedne» uM~n Ihi~ ;1lortgage• c~nJ the i~ote ~ecured hereby rem•rining unp~id_ are hereby •rs~igneJ by thr Afurtgagor to the ~lurtg:?E.ee and ,hall t?e p:?iJ forthw ilh to the Mortgagee t~~ tx •rpplied hY it on account of 1he indehtene.s secured hereby. whether Jue ~~r not. 9. That Ihe mortgagee may. at any time pending •r wit u~x~n Ihi~ mortgage_ apply to the coun having juri+Jiction Ihereof (or ihe apEx~in~- ment o( a receiver. and such court shall forthwith appoint receiver ot the prrmices covered hereby all and cinFular. including all and cingular the inr~~me_ profitc. ictiues. •rnd revenue~ (rom whatr~er .ource Jerived. each anJ every of which. it heing erpre~~ly under.t~wd_ i. herehy morlgageJ a~ if specifically tiet forth anJ de~crit?eJ in Ihe granting anJ hatxnJum clauses hereof. anJ wch rereiver ,hall have :?II the bru:id ~nJ eHecti~e tunctionc and powerc in anywix en~ru~teJ b~~ a court lo a receiver. anJ wch appointment chall be made bq wch rourt ac an admiued equity end a m:+tter of abwlute right w saiJ mor~g:?gee. anJ w~ithout reterence to Ihe adequacy or in•rdequacy ot the ~~alue of the properl} m~xt- gaged or a. the .olvenc~ .~r imolvenc~~ of .:~id m~~rtgagor or the detendant~. and that wch rrntc. profii~. income. i.,uz~_ anJ revenue~ .hall he applied by such receiver according to the lien of thic mortgage :md the practict of such c~wrt. In the event of any defauh un Ihe part of the mort- . gagor hereunder. the mortp.:+gett •rgree~ to pay tu the mortga~ree on Jemand ac a reawnahk monthly rcntal for Ihe premise~ an amuunt at least equivalent to one-Iwelith 11I1'_1 of ihe aucreFate o( Ihe Iweh~e monthly inst•rllment~ p•ryabk in the Ihen current year plu~ the actual amounl ~~t the annual ta~es. ac~e~timentc. water rates. ~nd imurance premiumc for wch yeaz not rovereJ by Ihe afore~aid mimthly pa} menh. 10. 71iat la1 in the evem of any brearh ot thi. mortg:+~te ~~r default on the part of the mortgagor. or Ib1 in the event Ih:+t any of tiaiJ ~um, i~t mimey herein referred to be not promptly anJ fully paid with~wt demand or notice. or Icl in the eveM that each anJ e~•ery the .tipulati~~n.. aFreementti. condiliom. and coveoant~ ot tiaiJ note anJ thiti mort~ge. are not duly. prompUy_ rnJ (ully performed: then io either ur any wch e~ent. thr ~aiJ aggregate wm mentiuned in .:+id note ~hen remaining unpaiJ. with intere.~ acetueJ to that time_ anJ all m~?ney~ ~ecureJ hereb~•. ,hall t~ecume Jue anJ payablt forthw ith. ur therra(ler_ a1 the option of ,aid mort~tee. as fully and completely a. if al{ ~~f Ihe ~aiJ wms ~~f mon- ey Nere originally ~tipulateJ to 1?e p~iJ uo .ach Jay_ anything in s:iid note or in Ihis mortgage to Ihe contrary notwi~h~tanding: :~nJ thereu~x~n or thereatter. at the op~ion u( tiaiJ mortg:+gee. w ith~wt notice or Jemand..uit a~ I:~w• or in equity. may be pro.ecuted if all money• ,ecured here- hy had matureJ priur Io it~ imliwtion. The murtFa~:ee may (i~reclo~e 1hi~ morlga~:e. ati 1o Ihe amount tio declared due anJ pa}aMe_ •rnd the ~aiJ premi.e+ shall be ~oIJ to .ati~fy anJ pay the .ame u.gelher w ith co~t~. e~penu~. anJ :dlowancec. In ca~e of partial foreclawre ot this mort~ge. the mortg:~ged premi.e~ ~hall be ~old .uhject 1i~ Ihe con~inuing lien of thi~ morl~ge (or Ihe amount of Ihe debt nol then Jue :+nJ unpaid. In wrh case the provi~ion~ oi thi~ paragraph may again t+e av:~ileJ of lhercafter (ram time to ~ime hy Ihe murlg:igee_ I I. That Ihe mortga~or will give immeJiate ~otice hy mai) Io tlx mortga~:ee of any con~eyance. tran~fer. or change o( uwner.hip of the premises. 1?. That ~o waiver o( •rny cnvenant herein or of Ihe ohligatiun ~ecurtd hereb~ ~hall at any time thereafter t+e held ~o tx a v?'aive~ of tht tcrm~ hereot or o( the note .ecureJ herehy- ~ R BOOK PAGE .,:~r•-. : _ ~ - ~ ~ 's ~ ~~h~ -