HomeMy WebLinkAbout0832 hr.v~n;; t~r:~~?-ity over C4i~ lien of this Nortgage, the Morthahor shal~ make tl~e
~lep~~si :s rc~~uir~•~' by ~1?~ s Pa; ~;~rapl~ I anly tn the even~ o( the termination oC
•.~~ci~ .,1,1 i~;.~' .~,i~ ~~~Nt~•~ ~1~~• ~~ri~i ~n.~r~~;.i,;~ ~?i similttr in::truincnt. Thc *lort~~aFoi'
:.11:1~~ ~_IVI• ~1l~)111~•~ (1~)~1~~•~ 111 ?:I~I~.I11},~ ~~1 ~jll` ~~l1Ttl~~1l;t't• p~ ~~1C occurrrnc.• Of
th~ ~;~r:l u,••ntl~in~~l ~•w•nl. All .~rli :~uw~uulti Sodr~~~tslt~~d ~lilh lh~` !1.?t't.;:~~;a.a•
1i:1::~ ~ ~i~ ZIC~~~ ~~y ~~Il' :'N~f11•71•~~~•~ ~~r :IIIV :1•!1•Ill l~CS1~;f1Att`~~ ~)V 1~ ~ {11 ~C~ISC (ll
~~5r~1 ~~nl~~ lur 11~~• (~:1~/IpC11C nr 5~~rie ;~ri?~in~l I~~nls~ pt'emiu~nS~ tAXrS~ ~38~SSmCntS,
w.~tc•r r:~tc•~: a~•1 oth~r govcr:~~n<~nral ci~•~r~;~s. No interest shall he payable l~y
tl~~~ ~i~~rtra~c^_ on any s~u~ so dcpo:: i cc~~ . ~
(b) All amounts req~iired to bc ~eposited with the Mortgagee rnonthly in
accordance witl~ Paragraph 7(a) llereof , and the anaunt of principal and interest
to be osid each month o~~ account ot the Note, shall be added togethcr, and the
aggregate araount thereot shall be paid Uy the Nortgagor tu the Mortgagee in a
sin~le payment to be applied by t1~e Mortgagee on account uf the Indebtedness
of the Mor[gagor purs~~ant to the Note a~x1 this Hortgage (to the extcnt that
monies are availabl~ fr~m the amount so deposited), in the order, any provision
~t tt~e Note to tl~e cc?ntrary notWithstanding, as follows:
first, to th~ :?mounc of svch preund rents, if a~ly, fire and other
hazard insur~nce ~~reeii ~~^s, taxes, . assessments, water rates anc!
oLi~er govcrnm~-nta! : har..^,:_s required to be pai3 u~Jer the provisions
oi this rMrt~a;.~ ,~r= ~F.at~~ver sequence Che Mart~a~ee may excl~~sively
!ctcrr~ine;
arcon~i, to int~~r~~::'. 'uc c?n lhe I~otc;
C~~: i~} ~ t0 Lhr :~1 1 H~' 1 ii:l l•t~tl• nIl th~~ No[e; 3R(~
fourti~, [he r~~main~lr:- to tl:e lace char~es, i2 anv, referre3 to in
the N•~te.
i~ny deticiency ~n ~iee amuunt ~~f an~• suc~~ ags;regate monthly payment shall,
unlcss paid by the P~ertgap,or pri.or [o tF~e due date af the next such deposi [
~ayahl~, constitut~ aa ~~:ent oi :le:..~~2t ?.rtder this Mortgage.
(c) Any e_<cess t~~::ds tha: r.-.~y be acc~r.?ulate~i by reason oE the deposits
~~-•~uirc! ur_-'.c~r Fara~;ra~?t: 7(a) !•c-reo;, ren<zining after payment of the ac?cunts
' ~Ie:,~ri`•~~:~ in rla~~ses ~i:j and (iii) tl~ereof, ~hall be crediC~'d to subse-
iI ,:~c•~-`- :-~~~,,•~~-ti~r mor•~l~1,~ n:=eo~?nr~ ~~i thr sar.~e nature required to be ~aid t!.ere-
I +~rr~c r. if any such a,~c~unt shill exe~ec~ ~he~ estimate therefor, the rior[~agor
~ s~~:~li i~:~-t!~~.~:rst ~3y C '~•t' '~~~~-:-,;a~;ee the amo?~nt ot such deficiency u~on writt?r+
n~~-icc• tiu• r'.ort?.3s:r-~• u! <<:.~ a-roant thereuf. Failure to do so before tL•~ .luc
iat~ si,ci~ amou+it ~ha] l bc ai~ c•v~nc ~f default under this Mortga~c•. i i th~:
~ ~•:ort~;:.,-~~. ~~-~~,~~~~~c; is ~o!~i t~ndei- io:fctosure or is othen,rise acquire.i b} tl~r
,
:durt~;.~,e•~_; .=`'_:e ~lefau:~ t.••• t::~- ~turt;a~~or, anv rE•mainin; balance of the accun?~~-
iat:•~+:s t::~=~_-z ~'~•tag:a;~i: 7~a) l~rrcof, s!tall ~e credited to che principal am~uut
oa:;n„ t,;i i~3r~cc• a~ ~~f tt:~• <~ate ~~E c~;:~:,,c~ncement af fore.-lc~suse rroceedin;s [or
c he :.2 ° rc,,,er y, ~~r as c~` t}~c ~iate the aeorcgaoed property is othe~wisc
s~~ . ~ .
•::~~'IUJCi'~CU:.~ :'Rrl :ll~ p~:l[1S 3;~CC;ficat'Oilti iL~refor Sti8il C!7!!1;`~ "
~ wi!3 =tij ai~~•licahle ra~~~i~ :~al ~~r~i:~•ar,cc=:~ :eguia~ions an~1 r~.Zes usa~ie ni
proa:ti~i:~.:~ted br iawfu~ auth~.~: ~ty, a~~~i- their co~rpletion, sl~all co^~rl~.
~i~~~:~-~~~~'_ 4+~d =,rith ~.hc~ rul~s oC tL~ iinar;' c,t Fire Undetwriters havi~i~; juris-
's~-t ~t~~:.
i~~~ ~ t,,, t~]~rl;;a•;o~ t~~ c~?r~ply with or ~~er=`orm an~ of the
' ~•~ir-~; ~ ~'~~•:,-~~:lt. c ~Tt' C~~;7'~ 1! i(~'IS t~i Cie15 F1c~rcRage req'.11L111+: C~la- '~ay'11C!lt Oi ~It\'
.;t'~(?tt:1L .n]_;. t~.•, t~' .!Or--':t';n: ~ OCc~~~~- it~an C~le principall s'!:C10lIRC (l~ C~1C IO~R
- • ~ .
~ • , ' l~li- :.P[ C ~ : UC St 1~li~ ~ ti1CT ctiarges, dS [~Y'O~ 1 ~E,'(1 !fl Cil@ ~tiO=C ~
~.`:if` .c(~.-, "-,E'i AL 1::; c~~~i [~~t: f.~~~c~~ :.a~•?. ~ ayTent. Ever}~ payment SO tsk'i(~E -'O,~
~ , c ( . ; ; i r~~a_, ,:a~' . - t n ~ .~e~'s fees i r.~_u:-re~t ti~erct•:%) , w' t'~
. ~'~:~r~~un .l~e ~;,:tc o` _.:c'. f~.~,-:aent, at tnc rat~ o~ ~hr~c• ~+crcenc
i Z%. r~_ . 1r~ir ~ cei ,-ts~'. ~t~i, :trt~' _s'~'.' W71ZC~1 7 tji i CeLel'.C i".3:.C Of intert~st 25
. . , t?.i ~ i .:e :,•_'t~~? . i}te i~aTC~;d ;O1 CO t5c ~:or[bafieP Ot? ~tit..3r: ~
R::'~ ~ ~-t' ::E`CI' C:"i }J\' tr • : . ~111 $ MOrt~~all~t Wl til Ti:S~I:Ct LO an~ Si1C~1
~rK•.~., -i:y: .'t• Z:'~E:I-•::_ f~ _:'t'~~11 ~';uli :~onsticu[t` a 1]t:Il Ofl tl.c ~~or'.~a~ed i'1"U~
. i. : ~:1 =-li 3~ r±l~+~ ~ccruir. s~e~s~~uc:lt t0 t~'1C' 1 i.er. O~
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Legibility of writing, typing ~ BOOK~~~7 PA~E ~Ul.,,
or printing unsatigfactorv in - • -
this doctiment for microfilming.
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