HomeMy WebLinkAbout0483 _ ! t~.~t aa ~u.lr~ n~~u~ tully !u pt~~tc.i ihc .~:tu~ty ul Ih~. ~n.ii~~;~~a ~h~ muit~a~ut. ~ugNhc~ Nith .inJ in ~.1,lu~.u~ ~u ~hc r,tPntt+ly p.~~ ~n. n~. .
.a~~Jc~ !~r tr;m..~t thr u.,~r .c.uir~ Acrrh~..~i~ ~hr n~~~.!ay .~I r.~ih mu~iih unul ~hr..,iJ nutc ~c fullr p.+:d. u~ll p.~y ~uthr ,nuf~~;e~cc ~hr 1~~1!~~..
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1.~1 \n.~n:~eun1 .utii.i~•nl tu pia~idt Ihr hvi.ir: hrir~~i ~.~Ih (unJ. E•.~ti ih~ uc~t ~~i~~i~~.~~:r u~,u~.~n.c p~r~n~um i~ ihi. in.lnur..•+u .~nJ ihr
n~~ic.r:urrJ i~riri>> .~ic ~n.uirJ..~r in.m~hl> .h.~~~r un licu ut v~:,r,~~;.:~•a ~inur.~ncr prrin~tunl it ~lic~ .;~r hrl.i h) Ihc 4~.~rl.~n ~~t
Il,~u.ing.u~~ t ~h.:n Ik•~~I~~puiinl f.~!luN.'
~II lt a~IJ w(~~i+~t e~ ~eiJ itarlC ul c~rn d.~la .u~d ~hh ~n~lfunttut ara fnwird ~~r eri• trimw~d unJrr ihr pra~i.n~n. tif ihr \.,lu~n.d
Ilou~tq} .~n .imuu~q .ulhcirnt I~~.a: umi~l.~tr in thr ti.utJ. Ihc h~~~drr .~nr ~ f: „F~~nth p~ia~ 1~~ u~ dur J.~Ir Ihc .~n~iu:,l :n~~~I
g.~gr ui.ur~occ pirnnum. m~,cdci tu pru~iJc ,wh huWN N:th tuud, tu p.~y wch ptcmiinn tu Ihr Srrrrt.uy u( H.~u,~n~; .a~J
l'rh.~n Ik ~ rl~~p~nrnt pur.u:~n: ?u Ihr \.~t~nn.J Huu.~~i~; :1ct..~~ .~m~nd~d. .~ppl~.ahk ItaguL~u.~n. thr~rundr~. u~
~111 1( and lung ..uJ nut~ ~~f r~rn Jatr .~nd ~iu. ~n.tnun~~u .~rr hrlJ hy ~hr tir.~rlaty uf H~~u~ing .~nJ l'then Ik~clapm~ni. a
munthlp : h~u~;a ~in lir:~ uf a mur~p;.~~;r in,ur;~nc~ primium~ whi:h .h.~tl F+r in .,n ;~m~~ua ~yual ta .mr ~Nrif~h I f; l'1 uf unr-halt
I II?? {+rr crntum the ,+~rrage uui~t.inJin~; F.~lan:r Jur ,~n ~he nute unnputed wnhuut ~aking imu :~ccuum dclinyurn~ie, or
prrpayment.;
thl ,um ~~ucJ tu tht ~;r~iunJ t~nt~. an). nr~I Jue, plu. thr premium. ~had N~11 nc~t t+tcumr Jue anJ pa>ahk ~+n ~x~fi.•ie. o~ fire :~nJ
.~thrr h:v.ud ~mur.~n:r:~,~rring ih~ mun~;.~~:rJ pruprrly. plu, ta~r, .~nJ.,.~r.~mr~i1~ na Jur un ~ht murtK.~cJ piupr~t~ lall :t~ C~1i- :
,n.ilrJ hy Ihc murt~;:~get! lr,~ :dl wm..drr.iJy pa~J thcrcfui ~i~ iJrd b~ Ihr nu~uhrc o( munth~ lo elap~r ht(urt unr munth pnu~ tu ~he
d:~tr Nhrn .si~h gr.~unJ rent~. prrmium.. t.~~c~, anJ .~~.e..mcnt~ W ill hecumt :lrlinyucitt. ~uch .i~m, tu tie RrIJ M rnurt~:~bcr m tru,t
tu p:~~ .:~id gruunJ rent+. premiuma. I,~~e~. anJ .pe:ial a~cec.mente: anJ
l: ? ~!I pa~ mrm. n~~mi.~nrJ in thr ~wu preceJ~n~;.uhxiliun. ot shi. p:u.~~;r.~~h :ind .dl p:,~ mcnt.lu hr maJr urdrr ~hr nutr .rrurrd hrre-
h~ ~hall bc :~d~~J Iu~.tlh~r .~nd Ihi .~~;~ri~:de :,m~~unt Ihtrc~~f ,h:dl hr p..~d h~ !ha ;n~~t~}:~}r~~t r:irh m.~ntl~ ~n a~~n~:lr p.i~ mrm 1~~ t+r :~p-
pNrJ hy thr murt~;.~grr lu Ihr (ulluw ~ng it~mc io thr .~rder .rt furlh:
111 prcmium ch:~rgr. u~~Jer Ihr:~~ntracl u( ~muranrr Hhh Ihe ~trtelan~ u( Huu,inc :+hJ Urh:~n I~vrlupmen!. ur monlhly ih:~r~e
Un lir:~ uf ru~riK:~~e inwran~r prrmiu~nl. a. tha ca~r m~~ t+r:
I III ~~uun.l rrn~ti. c~~e..:~.~ec~mtn~.. tire, anJ :+Ihrr haiarJ ui,ur,~ncr prrm?um~: ~
1111 intrrr~t un 1he nulr ~tcurrJ hereb~ : and ~
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~ IV 1 ami~rt~r:thun u( ~hc pri~xipal u( ~:~id ovtc.
:~n> drfi~~ca~y m tht amoun~ ut,uch ~gl;rrga~c munthl~~ paymrnt tih:Jl. unle.. made ~:~K~.1 hy the mortg:,g~~r pri~~r t~~ thc ~tur d:~tr of Ihr ne~1
.uch pe~ mrn~. a~n,utwc an rvrnl ut dr(ault unJer thi~ morlg:~ga "fhe mur~gn~zee ma~ cullect a"lat~ ch:u~:e" nut t~, r~.reJ rrnt. ~'rf for
r.~:h Jui!ar ~S 11 uf r:~i h pa~ mrnt morr th:~n fifttrn f 1 V Jay. in arrtar. t.~ co~er ihr e~~ra rtpen.e in~~,1~eJ in hanJlin~ delinyurnt p:~~ ~nenl~
Ih.~t if ~hc total uf Ihe ~:~ymrnt~ made by tFx m.~rtgagur undrr 1M uf p.~ra~;raph ? prerrJi~g ~h:dl etrrrJ the :imuunt uf ~hc mcnt~
acw:dly mad~ h~ thr m i~::~Kce. (or gtuunJ ?rnt~. ta~r. and a,.r„mem, :u~d in,ur.~nrr prrmium~. :n Iht c~~r m.~~ h.. w:h r~cr„ if tLP luan i~. i
c•urrent, at the optio4 the mottgagor. chall, be credited un subseyuent payme~tc to be made by the Rtnfl~a~of. of fClUO~e~I to the
morigagor. 1(, however, thc moothly payments made by the mortqaRor under (a) of pareqraph 2 precedinR shall not bc su(ficient to
F~Y Rround rents, tax~s and a~arRSments and in~urance premiuins, a~ the case may be, wh~n the tiame shall becc~me due and pav-
.iLle. thro the mortRaKor ~hall pay ~o eh~ mortRaqee aoy ;unount nec~~~a?y to m~~l•c up the de(iciency, on or bc(or~ th~- dat~• a•hen
pa~~m~nt of ~uch Kround rent., taxe., a:ses.m~-nts, or iosurance pr~u~iums .hall bc duc. If at any time the nwrt~Ca~or shall tender ~
ro the marr;;a~r~ in :i~corJar.rc• r ith thc provi~ion~ o( thc note secured hcmbv, ful! paymcat of the cntire indcb~c~in~•~s reprccent-
~~d themt~v, the :nortKaKrF ~ha11, in cumputing the .~mount of coch ioJebtrdnesti, credit to the account o( thr mortF.+~or all payments
madc nn~i~•r thF prnv;sian~ of (a) o( paragtaph 2 hercof which the mottKaKee h:~s no1 become obligated to pay to the tie~retarp of
Huusin~ and t'rFrin 1)t•velop:nent and any balanc~ rc•mainiaR in the funds accumulat~d unJer the pro~•isions of (b~o( yaid
f~aragraph I( th~•re .hall be- a Je(ault under any of the provisions of this mortga~e, resulting ia a public sale ot the premi~es
c~o~•Pn-d hereby. or ii the mortgagee acquires the propert~ other~ise ahcr drfault, the•mortRagee shal) apply, the the ti of the
~ommencement o( ~uch proceeding4 or at the time the propert}• is othenvise acquired, thr batance then remaipit~,~the~ua~s
~ccumulated ~~ndet [a) o( paraqruph 2 preeeding as a credit against the amo;?nt o( principa! then re~painin~ unpeid under said note
~md ~6:i11 ~+roperty edjust any pa~•ments ~hich shali ha~•e been made und~r (e) <~f seid paragraph. '
w
s fh.~t he ill p.~~ :dl t.~~~.. :~.~r;.mrrft.. watrr ratc,. .md uthtr go~rrnmenl:d ur m!~nicip:d chargr~. fines. ur impy~itiun,~. f~~r whiQ` pro-
,n~~~:~ h:~. n~~t hirn m:eJc• hrrt~nFk(urc. .mJ in diLwlt Ihera~•f thr m~~rt~.~~:rc mn} p.~) th~ .:~ri~c: anJ thal F?e .~ill prump~l~-ifetiver the f~l~'tci~tl
~r:ripl. Ihrrrf~~r t~~ thr m~~rti.~~rr. ~
~(h:d ifr w ilj ~+rrmi~. c.~mq~ tL ur ~uHer na w;~+tr. imp:urmrnt..~r Jrtrri~~r;,tiun uf ..~iJ pruper~~• or any pan therrot: :~nJ in lht event of the
f;u~i~rr ~~f thr rnurtg.~~ar tu kcep ihe'huiWi?~t~ ~~n .aid prrmi,r~ .~nJ lhu.c to he erer~cd un ,:ud premi~c+. i~r improvemen~s ~hereon. in go~xi rc-
p.u~ thc man~;:~~~r m:~y m:~l;e ,uch repain ac in itt djcr~~tion it m;?~ Jerm necec..,r} for the pruper pre~ervatiun thereof. :mJ ~hr full amounl u(
r.~: h and r~ rr•. .uch p:~~~mtn~.hal?fie immr~liately dur anJ ~yabk, anJ .h:,111+~ .~rured b} thr lien uf thi, murt~a~:e.
h I h.t~ hr H ill pa~ :d1:uUl ~i~igutat the ro~ts. charge~. :~nJ ri~nse<. incluJing rea.a~ahk laa~er'. fee~. and cu.t. ~,t ah.tr.~ctt of ti~lt. ~n-
. urrrJ ,.~id at an~ Nme hy Ihe mcxtgagee hrcause of tht tailu:: on th~ part of ~he murt~~gor pmmptlq :md fully tu perfurm ihe aErirmrnts
~~iJ :~,~rn:~r,t, ,rt ..~iJ prumi~.an• nutr :+nu thi, murlg:~E'. and wid coct., chasgr.. and c~nemr~.hall I.e immeJi:del} dur anJ p.~~ ahlt anJ .h:dl ;
i nc .~iuted h1 thc 1irn.~( thi~ mort~;:~i~- ' %
~ ~ 1 h.~! hc il! I.rrp thr imprwrmcnt, n;~w e~i.tingun c~rrafler rrtctr~! un thr m~~rt~e~;rd pri:part}. m.urrd m:~y tx rryuircd fr~nn timi ;
~ umr h} ihr ~nurtL:~erc .~e.un,~ I~,.. h~ hrr :~nd uthrr h:,r~rd~. ra,u:Jtic.. .~nJ ~onhngencit. in .uch ~mui~nn :~n~ fc~r .urh pen.xt. a. m.~~ he _
rcy~urrJ h~ ~n.~r1L:1Lt't. .Illll Nf~I pr~:mpth. whrn di~r. .~n~ prrmium~ ~+n .u~h imur:mcr fur paym~m ~~f whirh pru~i.iun h:~. nrt t.«n ~~~:idr
~ .
( h~trinhr:`~,rc 1!f in.ur.~nre .hall hr ~.:rneJ ~n comp.mieti appro~rJ hp murtgagee nnd thC M~licie~ anJ renewnl. Ihecr~,f .h:Jl he hrid h~ nwni.~-
~ ~rr an.! h.~.c au:,chrJ lhrrrt~• lu,. pa~.~hlt claux, in f:,~«r ~,f .md m t~.rm accep~ahlc to thr mon~::~Err. In z~rnt uf lu~. hr wil! ~_i~r immrJiat~
~ rn.ucr h~ mail tu murtg:~grr. ,mJ mortg:~gee ma~ makt pnwf u( lu:c if nut maJe promptly by mortgagur. :~nJ ra.h imur~nce compar.y run-
~ :r:nrJ i, hcrrtn ;ni~h~~rind :~nd dirr.teJ m:~kc paymrnt fur ,uch Io~. dirertiy to murtgagre in~tcad u( lo m~~rt~.~~ur and murt~::+~er j~~~ntl~.
~ .~nJ ~hr in~ur.~nir pr~~irrJ~. ur any part tfirreof. may t+r :~pplied hy martg:+gte at i~. op~ion either to thc reJuctiun of thr indehtedn~.~ hereh~
~ .~cured ur 1~~ Ihr re.t~~r.~Uun nr rcp:~ir thr pru~xrl~ d:~mac~d. In c~rn1 of forecl~~~urc ~,f thi, m~~rtgn~r or uthet Ir:~m(cr of litle ti~ the murt-
~;:~~;rJ prup~rt~ m e~un~ui,hmtnt u( tt?r inJrMrJne...ecurrd hereh~ ..~11 nkht. tille. .~nJ ~mere~t o( Ihe murt~t~gur in and to an~ imur.~ncr puli-.
:~r, lhen in f~,rce ~h:d! p:~.. to Ihe purcha~er ur ~rantre.
>t. ~~h:~t if the prrm~~e.. or :~n~ part Ihereuf. he cundrmnrJ unJrr an~ ~~wrr ~~f eminent Jum:~in. or a:yuired fur puhlic u.~. th~ J~m.~e~•. :
prixeedc. ;md Ihe:en~iJ~r.~tiun ii~r ~urh acqui,itiun. to Iht e~tcn~ of thr full amuunt of inSchted~r,~ u{+u~ thi~ ~1~~rtgagc. and the Vute .e:urrJ ~
~ hcreM rrn::~ininK unpaiJ. :~rc hrrehp ati.i~ned h~ tht ~lurtga_r,~~r to the ~1ortFacrc anJ +hail he p.+id torthwi~h a~ the \tortgagee !o he applied h}~
~ ~t .~n .~ccuunt uf the indeh~ene., ,rcurrd herrby. whether Jur or nv~. -
Th.~t the m~~rtg,~gec m:~~ .:~t an~ Ume pending a.uit up~m thi~ murtgage_ ~ppl~ to thr :ourt having juri~Jictiun thrrruf (or Ihi app~~int-
~ mrnt ~~f a rece~~er. :,nd ~u:h iuurt .h.dl forthw hh ap{+innt recr~~rr uf the prem~.e. co~ercd herrh~ ~II and ~inguL~r. incluJ~~g aU .uid .in~ular
~ the inc~~mr. prutit.. i~.ur.. .~nJ re~~m~t~ frum Hh:,te~er ,uurcr deri~rJ. ~ach .~nd e~ery o( whirh. it heing e~pre„Iy unJrntuud_ i~ hcreh~ ~
;norie.,~:rd ~c if tiprci~atly .ct (~~rth anJ de:rrihzd in ihe ~ranting :~nd hahrn~um ~!::~~~e~ tirreof.:~nJ cueh receiver ,h:dl ha.e aU the hr.+.~J anJ
etiectn•e tunctiun..~nd p~~N~er. ~n :~n~u i.e enlru~~tJ Fy a«xut to a recei~er. anJ ,u~n appuinlmrnl ,hali ht maJe h~ ~uch ruurt a. :~n ;~dm~ned '
cywty and ma~ter ~~f ah,~dutr nght to ,a~J m~~r~g:~gee. and without refrrenre !o ~he .~dryuacy or madeyu:~rc ~~f Ihe ~ cJur of the pruprrt~ mun- ~
~ ~.itrd ~~t t~~ !hc ~ol~er~~ imuh~nct v( .:~id mu~l}atuf i~t (hi d~fenJ:mi.. end th:~t .u~h rcnh. prutit.. ~nr~~me. ~..ur.. .~nJ re~rnue. :h:dl hr' '
.ippfieJ hy wih rirri~er acu~rJ~ng h~ ihr iirn ~~f thi, m~~n~;:~~e anJ thr pr:~.Nce .uch cuurt. In thr e~rm uf :my JeL~uI1 ~.n the , art uf thr mur~-
~ ~~ot hrrtu~Jrr. Ihc m~~rt~.:L~~r .~~rrr~ tu t~~ thr m~~rt ~~LCC un Jrmc~~~ ~:re.unahle munthh rental (or Ihc r~misr~ :~n :~muun~ Ica.l ~
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~ ryu~~elrnt t~~ ~~nr-1~c1(Ih 11!1'1 uf the a~;~reg~tr uf Ihr twrl~r rn.~nthiy imtallment. payahle in the then current ye.+r plu~ thc actuat :~muunt u(
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~ ~hr :~nnuat ta~r.. a..e..mrnt.. N:~ter r:+tr.. .md in.ur.~ncc premwm iur ,u~h ~e.~r nut a,cercJ h~ the :~fure•.~iJ munthly paqmrnt.. -
111. fhat ~:d in ttx eveM nt an} hrrach ~~f thi. niurtt.~gr ~~r drfault un thr p:~rt uf ~he m~~rtgegur. or ihl in Ibe ecent lhat an} uf .aiJ wm~ of
~ munr~ hrrrm rrtrrrrd tu he n~~t prump~h ,ind fully p:~iJ tiithuut demanJ ~tt nus~rc. or I~i in ~hc rarnt that each :~nd tvery the .UpuL~lii~m.
~ .~~rrrm~nt~. ~nnJiti~~n.. :~nJ rn~rn.~nt~ of .:~iJ ~~utr and Ihi. murtgagr. :~re n~~t duly- pmmptly. ,mJ fully perfurmeJ: Ihen in rither ur :~~i~ ~uch '
~ r.ent. the ..~id .~~;err~ate .um mrnliu»«I in ..ud note then remaining unpaid. Nith intere.t ac:rueJ Iu Ihat time. anJ all money. ~ecurrJ nerehy.
~ .h.~l! hrcume Jur :uiJ p:.y ahlr furthw ~Ih. ur thircafter. at ihe opti~~n o( tiaiJ murlgaKee. a~ full~ .uiJ cumpleleiy ati i( all o( the tiaiJ ~um, of mun-
.~`H ~ t ti~~rr ,~ri~~n.dh .tipul:~trJ to he pc~iJ ~~n .urh J.~~ .:m~ thin~; in ~:~id nutr ar in thi~ murlk.~ge te~ the contrary ~otwilh~tunding. and thereuExm vr
~ thrrr.~firr .~t thr ~~pti~~n uf .:iid murt~.~~;er. uithout nuiic~ ur drmanJ. .uil :d I.~u or in rysiity. may ix pro~ecuteJ ac if all munry,.tcured here-
~ h~ ha~} m:~turcd pn~~r t~, it. imtitutiun "ihr mnrtcactr m.~y forerlo.e thi~ m~~rlgaLC. a. t~• ihe :im~~unt dtclarrd Jue and pa}.~hle. and Ihe ~aiJ ;
premi~e+.h:dl he.~~ld t~~.a~i.f~ ::~id pa~ thr ,.+mr togethrr aith co.t.. r~prme,. :~nd:Jluwanri~ 1~ catie of p:~nial foreclowre of thi~ mortgage.
ihe mortgagrd premiu~ ~h.,ll he •~~IJ ,uhjert a~ thr cunUnuing lien of 1hi~ miatg.~gc for Ihe amnu~t ot ehe Jeht nut the~ due :~nJ unpaiJ. In wch ~
_ ~a~e the pruvi~ion. ut Ihi. p.~r.~~raph ms} :~~~un hr :~~:~i1eJ a( Ihrtc:~fter (rom time ume hy thc m„rtgaFce. ~
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