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HomeMy WebLinkAbout0319 Ih.d. in u~d.r murc full~ 1~~ piutr:l Ihr .r.utU~ ~•1 Ih~. ~uuuE.~Ec . thc na~t~~:.~E.~~. 1~~}c1Mt w~tA .~nd ~n.~dd~u~~u lu. thr ro~~nthh p.~>mcnl~ wnl: ~ Ihr Ir~m. u( Ihr nutr .r~ utrJ hrirM . un Iha h~.l J.~> u~ r.~, n~~~„~,~n ~,~~ui ~n~ ..ud n.Nr lull} pa~d a~ll pa~ lu 1hr mu~1~.~~rr Ihc lulluw 1.~~ •\n.~uu~u~u .ud~.irn~ ta ps..~~~k Ih~ 1~..IJ.~ h~+r~+i Nith fund. lu p.~~ Ihc nr~1 muil~;e~;r ~nwtateir prrmwm ~I thn ~u.lrumrnt .~nJ ~hr a~~~r .r:ura•J hrtrM .ur in.urrd. w.~ munihl~ ch.u~;c I~n hru m~nlNagr in.u~.mcr ptrm~um~ i( thr~ are hcid h~ thr ~resclat~ ut 11~NiV11l; anJ 1'~h.~ii Ik•~rl.~pma'nt a~ I~dluw~' . ~11 If anJ .o lun~; .~...uJ nu~r uf r~rn.Lnr .~nd th~. i!~.Inunrr,~ atr ~n.u~rJ ut arr rrin.urrJ iinJrr thr pru~„~um Ihc '~.~huu.d H~~u,~nE :~ct. an amuunt wtG.~rnt tu ac:umulatc ~n th~ hanJ. ~~f it?~ h~~{drt „nr 111 muiuh pnu~ !u ii~ dur dalr 1hr .~nnu:J murl- ~;a~e u~.ur:~n~r p~cmium. u~ urJrr t.. p~uvdr •wh huldrr Nilh (unJ. ~u pa> wrh prrmwm tu thr 1r.rctar) uf H~a~+~ng anJ t'rhan I~r~rlupmrnl pur.u.uu tu ~hr !~.~tian:J Iluu.in~; :~rt. :~mrndrJ. anJ:~pp6~:~hk Rr~;ul:~~iun. thrrcunder. ur lll; (t .~nd tvn~; a..~fd n"tr ut r~ro datr and ~hi. ?mtrumrnl arr hr1J M ~lx Src~rinr~ 01 Huu.~n~; :~nd l'rh:m Ikvrlupmrnt. a munlhl~ :har~;r lin I~ru u mnr1~;:~Er ~o.ur.~n.r prrm~uml wh~rh ~hali hr ~n an amuunl ryual a+une ~wrltth 11l121.~t aae-ha{i ~ I'?1 prt ~rnlum u( tht :~~are~r uuh~.mJ~ng h:J.~nca dur un Ihc nutr cun~putrJ w~lhuut lakm~; mlu e~cuunt drhnyurnc~r. ui prrp.~> mrnt.. ' Ih~ A.um ryu.d tu ~h. ~;r.~u~xl rrnt.. it am, nc~t dur. plu. ~h. psrn+ium. that v.~11 nr~t tk:a.mr dur and pa~ehle ~•n M~fiiir. ui li~r :~nd uihrr h.v:uJ ~nwran:r ru~rr~n~; thr man~;aErd proprrt~. plu. t.~~r.:~oJ a..r~.mcnt, nctt Jur un tAr m~.~tgagrd pruprrl~ lall a. r,~i- m:ard h~ thc mu~l~:.~~rr? Ir.. all .um. alrr.~d~ ~+.uJ thrrc(ur Jnidrd M thr numhrr ~~f mumh. a~ al:~p.r hrfure ~~nr mumh pri.~r Iu Ihr datr wh~n ,uch g~uunJ ~em.. prcmium.. t:~~r.. anJ a..r~~mcnt. Mifl hrcumr Jehnyurnt. .u.h wm. tu hr hrlJ h> murt~;:s~;rr in ~ru.~ tu p.~~ .aiJ EiounJ ~rnl~. prcmium~. W~r.. anJ ~prr~al a..r..mrn~.::mJ 1~ ? -10 p:~} mrnl. m~nUunrd in Ih~ Iw~~ prrcrdin~; .uh.r: Uun, thi~ par.~gr.~ph anJ all pa~ mrm. ~u hr maJr undrr ~hr n~Nr .rcurrJ hrrr M.h.~11 tK .~JJrd ~~h;rlhrr and Ihr a~;~:rr~:atr .~m~~unt Ihrrru( .hall ix pa~J h~ Ihr mungrgor r~rh munlh in .+,~ngk p:~> mrm ~a hr ap _ plird h~ Ihr murt~:.~~:rz t~~ thc [allowing item. tn thr ocJrr ~~t tucth: U~ prcmwm ihar~;r. unJer thr cont~act af imuranrr N~th thr tir~rr~ar~ u( Iliw~~ng:mJ l!rhan Ik~riupmrm, ur m.~nthh ch~rge un hru u( murl~agt in.urancr prcmiuml. a~ Ihr ~a.e ma~ ha : ~II? ~;ruui~f rrnt.. t~~r.. :~..e..mrn~.. fi~r. :~mf uthrr h~~:uJ in,ur.~nce premium.. ~ 111 in~rrr+1 on ~hr na~r .c~ urrJ hrrch~ ;:~nJ - 11~'1 amurtiia~iun uf Ihe prin~ipel af ~aid nulr. :~m Jrtic+rn. ~ m ~hr amuunt ut wch aEbrrgatr munthl~ p:~~ mrnt .hall. imlr.+ m~Je ~~kKl hy Ihr m~~rtgagur pri.H tu ~hr Jur datr uf th~r~ryt ~t .u~h ~+a~ mr~u_ cu~.titulc :+n r~rnt .~t Jttau4 usxkt thi. mu~t~;agr. l hr mortgagrr may rollec~ ~"latc rhar~r'~ n~N 1u eucrJ Iwu cent~ ~ tor 4~ ra:h Jullar ~SI I o( ra~h pa~ mrot mure ~hrn fittrrn 11~1 Ja~. in :urran la c~»rr Ihr r~tra r~ptnu invulvrJ in h:~nJling Jelu~yurnt pa~ me~t~. "Ihat i( Ihr tu1a1 uf Ihr paqmcnl. maJe nc 1hr m~•rtl;:~g~~r unJer IM u( p~r,~~;raph prtcrJin~t ~h:dl e~rrrJ thr ~m~~un1 u( 1Ae p•rymrnh a:tunlh madr b~ Iht mongagre. fur gruunJ rrnl.. le~~+ .~nd a~.e.+mtnt.:enJ m.uranre prcmium~, a~ tht ca.r m~y he. .uch r~re.. it the loan is rurrent, at t6e option o( thc mortqaKor, tihall, be crcdit~d oa subsequent payments to be made by tAe moitgagor, or refunded to the - mortqagor. l(, howevrr, thc moathly paymcots made by IhP mo~IRaRor uuder (6) of pateRraph 2 precedioq shall not bc ~uHicicnl to pay Rround reots, taic~ and asses~~nents aad insuraace premium., ati the case may be, whrn the wame shall bei•omc due :wd pay- abl~, thP~r tfie mor~RaRor ~hall pay to ~hr mortqaKer any ;unounl n~ces.ary to make up the deticiency, on or be(or~ the date when paymeat o( cuch ~trounJ tcots, (JCCti, a.sessments, or insurance prrmiums .hull he duc. It at any time thr ~uottgaRot shall teodt`t to the mortKaKec io accordanr~ with thc prnvisionz o( th~ aot~ sccun•d het~bv, (ull paym~ot of 1hr ~otire IpfIP.b1Cd~@Sti rrpreseot- ed ~hf•reby, thP mortRaqe~- shall, in ~•omputinR th~ amount of ~uch ind~btedness. credit :0 1he accouat ot the mortgaRor all paymPnts madP und~r ?h~ provisiun~ o( o( pataqraph 2 h^wnf rhich th~ martFaKce has not becnme obligated to pay to the Se•~•r~tary oi flousinK and Crban O~•vclupinent and any halan~•~ n•maininR in ~hc fund. a~~-umulat~d uoder the provisions ut (e~ o( said paraqraph 1f thi•re• .hall b~ a J~fault uad~•r any o( th~ provi-:iun~ o( this mortR-rF~, resul~ioK io a public sale of the premises covered hen•b~, or if the mortRrK~~ acquin•s th~ prop~~rt~ othrrMi~~ aiter d~fault, th~ mortRaRee~ shall apply, the the time o( the ~onimc~occmFnt o( ~u~h procc~dinKx ur at thc timc th~ propr.rt~ i. uthcrn+~c acquircd, thr balan~~ thcr. remaining in the (unds accumulat~d und~r (6) o( parahr:~ph 2 pre~eding as a credit aKain.t thP omuuat o( princepal th~n remaininK unpaid uouer said note and ~hall properly adju.t ani• p.~ymrntv which .hall ha.~ be~o made undPr of said paragraph. + f h.~t fir w~ll pa~ ei{ ie~r~. a~~r..mrnt.. wattr r.uc.. anJ uthcr ~:oorromrnl:J ur mum.~pal rhar~;r.. fine+. ur impu.itiunti: f~~r which pro- .~.~,m h.~. nut F+rrn m.idr hrtcinhforr. end ~n drLuiU thrs.a[ th. m.•rtgatirr ma~ pa~ Ihr mr. and lfiat fir wdl prrmptl~ drinrr Ihr utti:~.~l rc.r~pt. ~hrrrf~~r tu Ihr m~.rt~;.~~rr ~ ih.~t he will prnnu. ~ammh. o: wtlrr n~~ wa.tr. ~mpairmrnt. ar Jrtetiur~~iur, u(.a~J pruprrt~ ur am p:~tt tht~ruf.:~nJ m thr c~cnt u( the I~~ ta~turc rt ~hc m~~n~:e~:or tu I,r~p ihc htnldtn~;. ~±n ~.ud pr~mi.r. ~nd thu.r tu t+r ereclrJ .m .:,id prcmicr~. or impru~emrnn Ihrrcun. m g~MKt re- 'i p.ur, thc m~~rt~:a~:rr ma) m.~lr ,urh rrp.ur..i. m ~t~ di.i rr~~on il ma~ Jrrm nrcr.~ary (ur thc ptu~er p[c~rnauim thrrc~~( -.md ttx tidl ;.mouM .,f ~ r.~: h anJ r~en .uch pa} m~m .h.dl hr ~mm~J~.arh Jua anJ pa>:~htr_ :~nd .h:Jl F+e +e~ urrJ h~ Ihe lirn Ihi. murt~:~~r h f ha~ hr N~It pa~ :dl :,nd ~in~:ula~ thr ru~t.. ch:~rE~.. :~nd r~prn.c.. mcluJinE rca~~m.~hk I:~w}er~. fee.. ~nd:u,t, uf ah,tracl. ot ti1k. in- I iurrcJ ar p.~id at :~m umr b} th~ murt~:s~:rr tK::~u.r.~( thr t:~+turr un tht p.?tt o( Shr m~+rt~at.,r prumpt{~ and tu{h t~~ prrtorm tFx :~grrrmem. ~ .~n~i r~~~ rn:~nt. ..ud prumi..un n„tr .~nJ th~, mort~;:,~r. .md .eid ~u.t.. char~r.. .~nd r~(~rn.c+•hall 1*r immed~a~rlc dur anJ pa~ ahlr anJ •h.+tl ~ hr .rrurcJ h~ ~hr lirn „f thi. m~~rtg.~~:c ~ ' Ifi.,i fi~ u~?I Aerp~hr ~mpro.rmrnt. m~w r~i.luilar harr.~ftcr rrril~J ~~n Ihe murl~a~;td pru~rl~. m+urrd.~. ma~ hc rryuurd f~~~m umr E tu umr h~ thr marlE.~~;rr :~~.~in.t 1~~.. h~ fur .~nJ „~hrr h.~i:,rd.. .:~,u.dtie.. .~nd :unungt~c~e~ in .uch :timaunt..~nd for •uct~ prn~xl. a. ~rr:+~ I+c I rryiutrd.h~ m~.rt~.i~;rr. .~nJ will p:~> prumpth. whrn dur. :,m pr~m~um. un .urh inwran~r far pa~mem ~~f wh~rh pr.ni.iun h:n nut Fkcn m.~ilr i hrrc~nTxfurr. All ~n,ur.~ncc •hall hr Lar~irJ in :~~mp:~nir+ appru~eJ h} m~+n~~~rr .~~eJ ~hr Mdic~e, and rrneu:J~ ~hrrru( .h.~li hr hrlJ h~ m~+rtea i ~rr ..nd h:..e atts:hrd ~herew 1.,.. pn~ afil~ clau.e. tr. f.~~ar ut and m f..tm .~:crp~:~hlt tu the mortg.~~:rr In t~ int ut i~~,~ hr N~Il ~nr imm~dr,da ~ rnH~:r M m~il t~. m~,rt~:.:ger. and murt~.~~;re ~ne~ melr pro~d lo.. d nul m:,Je pn.mptly h~ morlge~;~~r. anJ ra~h in.uren~r comp:+a~ cun- E f irrnrJ hrreh~ authun~rd .~nJ J~rec~rJ m::Ar pa} mrnt (nr ~urh iu.. Jirectl} mon~tagrr in~trad u( tm m~r~~tagur anJ mi~rt~aerr ~u~ml~ . E :md the u~~uren~e pnktrJ.. ~~r an} p:irt ~hrteui. ma~ hr ~pp~~rJ h~ morl~:~~;rr :+t ih u~!li~m eithrr to the rrducuun uf Ihr inJchtrJne., herrh. ~ ~a~urrd ur to ~hr rc.tur,~~iun ~~t rrpau thr pn~prrt~ Jam.t}:eJ ln r~cnl .~t (urrctuwre u( thy. marl~;~cr or uthrr sran.frr ~~f ht{r tu tfir mort- j ga~;eJ pruprrt~ m e~~in~;ui.hmrnt nf Ihr ~nJrhtrdnr~. ~rc:~rrd hrrch~ . all n~;M, U~Ic. anJ ~n~erc.t n( Ihc murtg:,cur in :md t~~ an~ io.ur~n:~ p~~b- ~ cir. th~n in fur~e ~h.dl p:~.• t~~ Ihe pur~h:~~rr ur L?aMrr j x(hat sf th~ prem~,r.. ur .~m patt thrr~+~t. 1x i~~ndrmnrd under ;~n} M~Nrr of rm~nrnt Jom.un. ~~r rryuirrJ tur puhlic u~r. Ihc J.+m.~~e.. t pi~..rrd.. .mJ Ihr c.m.~drr.~u~m far .u~h a_yui.iUun. I~~ Ihr r~tent a( thr full .~m.•unt u{ ~ndtht~dnC.• uMm th~. ~1~~~1~.s~;r. .~nd ~hc \~~t~ ,~cur~J ~f brrrh~ rrm.un~n~; impei~L :~rr hrrihy .~..~~;n~J h~ Ihr ~I~~r:~.~~ur t~, th~ ~1~,rtte}rr .~nJ.h.~ll hr p.ud f~•nhwith tu thr ~lutt~:airr I.~ h. .~pp6rJ h} i u~,n .~.i~~unt ai ~he indcMrnr•• .rrurcJ hrreh~ . Nhrthrr dur or nu: v I hat thc mon~.~~;e~ ma~ ..+t an~ t~m~ pcnJ~og a.uit ~:ix,n thi, m„n~acc. apph t„ thr c~~un h.~. m~ ~uri.J~ctian thrrr~~f fur thc .~~+puint- i mcni rccr~vrr. end .u~h:~~urt .h.Jl G~rthw~Ih appuint ~r~ri~rr ut thr prrmi.r~ c~~~rrrJ herrM atl and,~n~:ul.,r. ~nctudia~:.dl anJ .m~:ut:u ~ thr in:~~mr. pn~tn~. i..ur~. .~nJ rr~enur~ (rum wh:dt~cr .our:~ drri~rJ. cach .~nJ ~~rr~ .~f which. it hrin~: t~prr~.ly undcr.t~h+J. i. h~reh~ 'i m~,tlc:~erJ e. ~f .pr:~hc.dl~ .rt furth .~nJ Jr.inhad m Ihr Er.uihn~..~nd h:~handum il.~u.~~ hCrcof. and .u:h rrirnr! .h.~ll h.~ar .~II thc hru.~~l en.l i rtie.~i~r funru~~n. .,nJ puwrr. m.m}w~•~ rntni.tcd M.~..~urt t~* a rr~ci~r~. end.uch .,pp«inlmrm .fi.~N h~ tnad~ h~ .~iih «~ur1 :~n .~dmmr~i ryuh} .~nd n.i.~lttr ~+f .~h~~dulr n~ht t~~ .:~~J m~,rt~:.~Frr. end v.ilhuul rr(rrenir t~~ Iha .~dttyua:~ ~~r inaJcyu.~i~ ~~f ~hr ..Juc ~hr ~rnpatlt m~rrl i,c.~l ~•r tu th. ~ul~rn.~ .~r in~~~l~r~t.~ ..u.l mrtt};,re.~r .~r ihc drfrnJ.~~zt.. .~nil Ih.~I ~u~h «nt,. pro~it~. ruumr. i.•ur~. .ind rrL~m~r• .h.dt hr ap~GrJ h~ w:h trcir.rt .~:~urd~nc t„ thi hrn ~,f thn m~.nE.~gc .inJ thr pr.~.hrr .unc ~uurt In thr c~rnt ut .~m Jrfc~ult un the p~rt u( thr morl ~aL~~n c~r~unJcr. thr m~,rl~.ignr u~rr.~ h~ p.~~ t~~ Ihr mn~t~;.~~:ac' ~~n JcmanJ .t• a rra~.mahlr mot~.hh t~~~:d (.~r thc prcm~.c•:+n em"unt 4r:•~i ryui~:drm 1~~ ~~nr-twrlith ~ I~ I'1 „t th~ e~:~:rr~:~tr ~~t th~ tNrhr m„nthl~ m.t:~llmrnt. p.~~.~hlr m thr Ihrn curr~nt ~rar plu, thr :~:~ual :~muunt ~hr .~nnu;,l ie~t~. e••r,.mrnt.. ~~a~rr ra~r.. .~n~ imur.mct prrmium. f~u .u:h ~rar n~~t i.~~rrrJ h~ tbr .~fure,.nJ mnn~hh pe) mrni. iu 1 h.st t.u ~n tAc ~~rnt ~•f .,n~ htce.h !fi~. m.•+t~:.~cr .,r de(aul~ ~~n thc r.ut af the mnn~.~~~~r. ~,r ~ M in ~hr t~rnl ~h.~i .~m ~~i ,;~id •um. ~~f inunr~ hcr~in rrt~r.rd t~~ rk n,•~ ~r~~rt,~~t~ t~~u~ ~.~~,t w~m„~~~ drm:~nJ ~~r ~t.~u:r _.~r i:~ ~n Ihc r~rn~ thet ta~h .mJ r~rn thr .upu~.~u.•rt.. ~cirrrirn~.- .un.lih~~m .~nd ~•~~rn.~nt~ ~,t ..~i.f ~e~~tc an~ Ihi. murlEa~a. :~rr nut Jul~ - pn,mpth . .iad (ull~ pcr(urmcJ: thrn m r~~hrr ~~r :~n~ .urh , t.cnt thr ~,nd .~~}rreatr ,um mrr~Uunrd tn ..~:J n~Nr lh~n rcm:umn~: unp::id w ith ~ntrre,t a~irurd t~• th.~1 nmr. .uul .~ll m~~nr~••r~urcd hrrrhe ,h.dl hriumr duc .~nd p.~~.~hh G,r~hw~th .a thrcr.+(tcr thr .•pt~~m ~•f ,.++~1 m~.~t~a}~r. a. tuth and :~•m~frlrh if .dl „f thr •.~i.t :um. n! m~~n- r} l+rrr un~m.Jl: .upuLded In hr p.~~d :,n .u.h J.s~ .rn: thin~ in ..~~d n~~tr ~~r ~n thi. m~~rt~:.~~r t~~ 1hr.nntr:~n n~~rw ith.t.~nd~nE. enJ thrrcu~,n ~~r ' th~rr.~ftrr. .~t Ihr ~~pU~~r. ~~f ..uJ m,~r~~.~~rr. Huh~•ut n~~uir ~~r drm.~nJ. .uii .~t I:iµ ur m rywh ~n.~~ h pn~.e:utrJ .n ~f .~tf mone~..crurrd hrir- 1~~ h.~d m.~IUrrd pn~~r tn ~t~ m.tnution lhr m.~n~.:_er m.~} furrcl~~.~ thi. murl~;e~;t. t~~ thr em~~unl .n Jrcl.~rc~1 Jur.,nJ p:~~:~hle- nnd thr .,uJ ~rrm~.r..hell hc .~~Id lu.eh.~~ end p.ri ~hi ~-.~tn~' InCtlha'r u tlh:~~.~~ e~ptO~t~. and.dlu+.~.~n.t~ (n ~a~C uf part~.~l t~.rril~„urr ~~t tfi~. m"~I~:.~tc. thr murt~::~LCd prcm~.r• •hell hr .~dJ ,uhlr.l In thr..~rtihn~unE hrn ~~f tM. m~•rlEacr (ar tha .~m~~unt o( Ihr drht n~a then Jur.mJ unp.ud In ~oih ..t~r ~hr proii~~~~~• thi. p.i~.~c~.iph m.~t .~i.i~n hr n~.~il~~i ~~f Ihari.~(ttr (r~.m limr (~mc h} iht' mutt~afti ' 6GOII ~VJ F'ACE ~L) ' ~