Loading...
HomeMy WebLinkAbout0516 ' 1 _ ~~~.u w~~~w~ ~.~..~i .u..~ ~,~~~~uia.~u~a ~c.w~1~.~Ilh~.ni,ui~;.y;r.ItK~mu~~~:.~~;~~i ~~~}r~hri Nu1~..~nJ~u.~~IJ~u~~nlu Ihrnu~nlhly{•.~~mrnl. unJr~ ~hr la~r~~ u! ll?c n.~tc ~c~ ~nrJ I+ctrh\ nn 11K f~t~i d.~~ ~~1 ~.~?h muOl~~ uul~l ll~c ,.~„i i~~n~ ~.~~,i w~u ~~~~h. nlull~;.~~a'c Ihi• I~~Iluu 1114' ~11111? ' ~a~ An .~m,~un1 ~u1L. ~s•nt tr pt„~iJr tlir hnl.irr hrrrut wilh funJ. p~ p.~~ Ihr nral nn~i1~;:~~r u~.ut.~n.r pi.m~um Ih~. n~.uumriH .~nd Ilir n.~~~ .r~u~rd hr~rh~ .~~r in.urrJ u~ muwhl~ ~h:u~:c nn hru m~~tl~.~~r ~n,ur.~nir prcmiunu d thr~ .~rr hrl~l h~ 1hr ~ri ~rl.~~~ ~~f ~~~+u~lill; .mJ l ih.~n ik ~ rl.~pmcnt .t~ I~rUuN ~ 11~ I( .~nd ~u lun~; a~ ..uJ n~Ha• uf r~an data .~nd ~hn ~o.uumrnt :~rc in.u~~J u~ .u~ ~r~nwrrd urnk~ Iha p~~~~~~~u~~~ u( Ihc n.d~uu:J H~NI+111~ .\l l. .~O .~h1~N1111 ~ulhri~ nt tu .~:cum~datr ~n ~hr hanJ. af ~hr huWa r unc 111 munth pnur w ~t. Jur .L~1r Ihr .mnu:J m~~r~- ~:..Er ~i~.ut.~ncr ptrinu~m. m wda~ 1a ptu~~dc wib hulJrt wilh funJ. lu pa~ .u~h prrmwm lu ~hr ir.rri;~r~ a( Iluu.~n~; .mJ l'~h.~n Ik ~a lupmrnt pu~.u.ir~t tu 1hr ^:~l~unal Fl~a~.in~; :~~1. a~ :~mrnJrd. a~d appl~cahk Rr~;ul.+~ian. ~h~tru+idrr. ~~t ~lii 11 .~nJ .a lun~; .aiJ n~a. o( r.rn J.da :uiJ ~hi. in.lrumrni :~rc hrlJ M ihr tirrrr~:u~ u( H~xi.in~: anJ l'rh:m Ik~rlupmrnt. a m~~nthl~ rh:uFr tin ticu ui murt~:agr ~n.ur~nca p~rm~um~ which .h.~ll hr m an amuunl ryu:d tu unr-Iwrll~h 1111'1 uf unrh.Qf ~ II'~ prr ~ra~um u[ lAr ,~~rr.y;t uut.land~oN haL~nrr dur on ~he n~~Ir cumputrd v.~ifi~wt I.~f.mg in~u:a•ruunt Jrlinyurnc~c. ur ~ prrp.~~ mrnl.: ~h~ .um ayual lu thr E~~~unJ rrnt.. :~m . nr~l du~. plu. ~t?r prrm~um~ ~h:~t w~ll ne~t hrcuma duc anJ pa~:~hta un M~I~c~r~ uf firc .~nJ uthrr hatard ~n.ur.~n.r.u~rs~n~ ~hr murt~;.~e~t prupeny. p1u~ I~~e. anJ a,.r.~mcnt, nr~t dur un !hr murt~;.~grJ pruprr~~ ~:~11 r.u~ me~rd h> tt?r mun~;:~grr11~.. all ,~~m. alrcaJ> ~wiJ ~hrrrtur Ji~iJrJ M thr numhrr o( m~~nth. t~. rl:~p.r hrf..r~ une mumh pnur tu thc .I.~~r whrn +urh Kruu~xl rrnt.. prrmwm~_ la~r.. anJ a..r..mrnt. will haxumr JrGoyurnt. .uch .um, tu tx hrld h~ m.~rt~:aEer ~n ~ru.t pa~ wid gtuw~J r~n1.. prrmiun~.. ta~r,. :u?J ~prc~al a,~r,~mrnl.: anJ ' i•\II p~~ mru~. n~rnuunrd ia t~c twu pet~eSui~,uh.ectiun..,t Ih~~ pa~a~r~ph ~nd aN pa~mrnt, ~u hr m:,Jr unJrr ~hr n~ar .eiu~rd hrrc h~ .h.dl hr aJJ~J t~~~;r~hrr :mJ thr a~;E:rtgalr amuum ~hrrcu( ~h~ll ht paiJ hy Ihc murtgagar ra~ h m.m~h m a+in~;lr p.~~ mcnt tu tk :+p- phcd h~ thr mun~;:y;rr tu thr t.~ll.~w inE itcm. in Ihr urJer .rt (urth: ~ 11? p?rmium.h:.~gr~ undrr 1ik ~unuact ~~f in.urancr Mith thc tircrr~ar~ ul H~~u.in~; anJ t'rhan Ik~rlupmrm. ur r.innihh ~har~:r un 6ru ui mun~;.,crimur~ncr prrmiuml. a. thc.a>r m:.~ l+r: . ~ 11~ gruw?J rrnt.. ta~r.. :~..r.,ment.. fitr. and ulhrr haiarJ imur~nct prrmium~: : ~111 m~rrr.t un ~hr n~Hr ~r:urrJ Iturehy::~nJ ` 1 I~' 1:~murtitatiu~ ut thc pnn~ipa! ut ,aid a~~tr. - an~ drh~ieni ~ in tha :,muunt .uch a~rcdatr munthl~ paymem ~hsll. unk.. m:~Jt g~x~J M thr murtl;:~Kur priur tu tt~e Suc d:ur.d lFK RC\1 .uch pa~ mrnt. c~~n.titutr an ~vrn~ u( drf~ult urnlrr thi. monK,ytr. Thr murtg:4ere ma~ rolk~l a"latr charke" ~ut lo t~ctrd tNO cent. l'r1 for ~ racfi Sullar ISf ? of rach pr~ mrm more than fiftrCn 115? Ja~. in arrcar~ ti~ co~ er thr e~tr~ r~prn+r in~ulveJ in hanJling Jrlinyurnt paymrnt.. ; z. l hat i( ~ht w~al af ~hc pa~ mrnt. maJt h~ thr murt~ur unde~ th1 u( parrgt~ph prec~d+~?~e .hafl e~~erd ihr amuun~ i•f the pa~ mrm. ~ :wtuall~ maJt h~ thr mort~;:~r~. fur gruunJ rrnt.. w~r+ anJ a..r++mrnt+ and in.urance prrmium.. :n ~hr ca.r ma> t+r. .wh r~cr+. i( th~ loan i. ~ curreot. at th~ aptiun o( tl+e mcxtgagor, s6a11, br crcdited on subsequent payments to be made by thr mortgagor, or re(unded to th~ mortgagor. 1(, fiowever, thc- munt~ly paymenls made by th~ mortgaqor uuder (b) oI parap~aph 3 precedinR shall not bc sufficicot tn _ pay Rround rent~, taxes and assessment+ and ia+uraoce premiwas, +s the case may be, wheo the vame shal! become due and pay- abl~, then th~ mortKaRor ~hall pay to thc mortgagee aoy :uaount occe~;.ary to make up the de(iciencp, oa or before the dat~ whrn payment of ~u.-.h ~round renes, taxrs. ass~ssmcot~. or in~uraocc prcmiua~s tihall be due. 1( at any timc thc mortqaKor shall tendrr to 1he mortKaRee ia accordance with i~e prwvisions uf th~ oot~ secured ht~rrby, full paym~al uf the entire indebteJn~•s~ rrpre~ent- ~d therFby, the mortqagF~ shall, in ron~PUt10~C lAe :+moun~ of such ind~btrdness, credit to th~ accaunt o[ tAe mortRaF~r all pa?m~•nt~ madr uaJ~r th~ provi~iun. o( of 4wraqraph 2 hrrcof w6ich th~ mortRag~~ hes not b~comc oAligatrd to pay to th~ til'~'fCIJ~Y of HousinR and 1!rbaa UCVI•Iopmcot and any t~:11dACP fl'RlaIAIOR in th~ ~und~ a~cumulat~d uader thc provisions o( (6) ol said paragraph I( ~h~•re~ .hail be a de(ault uader any o[ the provi.ioos o( t4~i. martgage, resullinR in a public sale of tfie premi.es ~ov~red h~•reLr•. nr i( thc mortKaRc~ acquin•. the prop~rt~• oth~rwise a(ter de(ault. th~ ~o?~R~R~~ shall apply. tAe th~ time o[ th~ _ ~omm~pcrmeot of ~u~h proce~dinK.~ or at the tim~ th~ property i. utherrise acquired, th~ balance then temaininR in the (unds accumulatrd und~r (d) o( p:~ra~;raph 2 pteci~ding as a credit a~ainst the amouat oi prin~-ipal th~•n remaining unpaid under said note and hhall properly adjust an} p~y~u~nh which shall h:~ve• i,een madc under o( sai~1 paraRraph. 3"I h:u hr w~ll pe~ ell ~.~~r.. :n.r..mrnt.. watrr rrtr.. and uthrr ~:u~irnmrntal ur muni~ip:d ~h:u~r.. tinF.. ar imM~.hiun._ fur w hich pru- ~ivon h.~. o~.t hrrn maJr hrrr~nhr(mr. :~nd ui Jr(.ud1 ~hrrru( IFh murl~.~~cr m.~~ pa) thr .:~ma. anJ th:d he w~ll prnmpll} J~li~~r Ihr ntii:~.d rr~r~p~.Ihrr~(ur tu thc m~~.t~eL~C ~ Ih.u hr will prrmi~. cummh. ur.utt~r nu r:~,1t_ ~mp.urmem. ur drtrrior:+Uun of ,aiJ pto{+ert~ ur .~a~ psrt thrrrof::+nd in thr e~~nf of thr f:~~lurc u( ~hr murtg:~?:~~r ~u ~crp tht huifdmg. un ..~iJ ptrmi~r. anJ thu~~ ta 4x rrrctrJ on ,.~iJ prcm~.r.. ur impr.~~rmrm. ~hrr~un. in g~xxi rc- pau. thr m~ntga~;cr m:i~ m:~1.r .uch aprin a. in d. Ji.crruun il ma) Jrrm necc~.an tur ~hr pruprr prr~rn atiun Ihrrc~~l. :,nJ thc fuU amuun~ u( aa~h anJ r~ rn .uch mrnt .h~ll hr immcdi:~lrl~ dur and p:~~:~hk. and .haN k+c ,ta~red M the licn af thi. mortg.+ge. h"I h:u hr ..ill p:~~ all :~nJ +m~:ul.u thr e~~.t.. ~h.,rcr.. .mJ r~y~n.r~. irectuJm~ rra.un.~hk L~wyrr'~ (r~~. :md c~~.h uf ah~trartti ~+f utk. ~n- :urrrd ~rr p.~iJ a~ an~ tim~ h~ ~hr mart~::+~:cr F+~:au.r a( thc f.ulurc un thr part uf Ihr mur~~:.~~ur prumpii~ rnd full~ t~~ pr?(urm ~hr a~rremrnt. .~nd ~u~rrtant. uf .:+id pt~+m~~.ut} n.+tr end tfii~ murtga~:r. :~nd ..uJ r~~.t.. rFwrEr.. anJ e~~+en~r~ .ball hr immrJ~~t~l~ Jur and pa~ahle anJ ~hali hr .c: urtJ h~ thr hrn ~,f th~. m~~rt~;:y;~ ' Ihat hr w~ll Acrp ihc impra~rment. n~~w rv.tin~~~r hrrc.~flrr crectrd ~~n thr m~~rtE:~~:rJ proprrt~. m,urrd a. ma} I+c rryuireJ frum nme t~~ timr h~ thr m~~r1y;.4:cr :~}:.un.t lu.. M tirr .u~d uthrr h:~i:~rJ.- ra.ir.Jhc.. :mJ c~~nnn~cnrir. in ,urh ~muunh :~nJ (~~r .u:h ~riixl. a. ma~ 1*r rrquurJ M m~~r1Ea~~r. ,md will pa~ pr.~mptl~ . whrn Jur am prrmu~m. un .uih imu~ance f~~r p.?yment uf wh~rh pr~~~ i.iun h:n nut hrrn mad~ hcrrinhrturt :111 ~n.ur.~n~r ~h.~ll tk rarrieJ in cumpanir.:~ppr~nrd h~ m~Klg:i~rr c~nJ Ihr M~licir. anJ rcncw:d~ thrtru( ~h~ll hn c~lJ h~ m~~~tg:~. Err and h.nr auaihtJ tharetu I~~.~ p:nahlr ~I:~u.~. ~n (a~ur ~~(:mJ in furm acirptahlr ~u ~hr murt~;egrr I~ r~rnt u( 1~~.~ he Nill z~~r ~mmrdi:~tr nnt~cr h~ m:~+! u, mu~tg:~~:rr. .~nd mortg:~~ee ma~ maAr pruof uf lu.~ ii nut maJt prumpll~ h~ m~+rl~t:~;~~r. anJ r:+ih m,uranrr rumpam ~~~n- ~rrnrJ i~ hrrch~ .~uth.~riirJ :~nd Jircrltd Io maAr pa~ ment fur +uch k~~~ d~ttctl~ to mortt;:s~er in.teaJ u( t~. mattg:~~ur .md mott~:airr I~~iNh . :md ~hr m.ur:~nrr pr~~rrd. ur .~m p;~rt there~~(. ma~ F+r :~ppl~rd h~ m~~rtEagre al ih upliun zilher tu Ihr rrJucUon u( thr inJehlrJnr+. hrrrh~ .~currJ tu tRr rr~~or:dwn ur rrpe~t ut thr pruprrh J.~mnKrJ In e~rnt o( (urerk~~ure of thi+ murtgaKc ur u1h~r tran~(rr i~f tiflr tu Ihe murt- g:kxd Qrop<<tl m r~tin~;ui.hm~nt ut tht ~ndrhtrJne...tcnrcd hrreh~. att ngfit. title. and intrre~t uf thr munga~ar in :mJ tu :~m imur.~nrr p.•h- ~ie~ then in fur.r ~h:Jl pe.. to thr purch:~~er ar grantrr ' Y"fh:~t if thr ptrm~+a.- or am pert thrreu(. Fx ~~~ndrmneJ under .~m ~,..rr ~,f emin~nt J~~m.~in. ur a:yuucd f~~r puhl~i u.c. thr d.~m,~gr. p~u.~eJ...~nd thr cun.iJrr.~ti~~n tur .urh :~cyw.~uun. tu thr e~ten~ uf thr fuU :~muunt uf inJrhteJnr.. u~~n thi. ~1nrt~aL~. :utJ Ihr \~Hr .~iureJ hrtrh~ r~tna~mng unp.~~J. .~rr hrrch~ .~..~~:nrd ht thr ~l~~rtp,ek~~f Iu lFta' \1~~r1~::~~~c .uld ~hall ht peid i~~rthwhh tu th~ \1ultEa~;rc fu tk appLrJ h~ i~ un :~ccnunt ~~t Ihc indrh~rnr...r~ urrJ hcrch~ . N hrthcr ~iuc ar ~~.t. fh:~t Ihr.mortga~:rr m:~r. al am time ptnJin~ :+.uit u~m thi. murtga~:r. appl~ tu tbc r~~urt ha~ing juti.J~cli~~n ~hcrr~d f~~r Ihr appui~~- ment.~t rrcr~~rr. .md w:h u,un .h.dl f.,rtfiw ith .~p~„,mt recei~er ~~f ITx prrmi.r. iu~ areJ herrM eii .mJ .~neul~r. in~luJin~ :ill .~nJ ,in~:uF.u thr incumr. prufil, i,.ur.. .mJ re~.nuc. (rum wh:ur~rr vwrc~ Jemtd. r.~.h and cver} ~~t waich_ ~t h~~n~; r~prr~,h undrr.tutxS. i~ herrl,~ m~~rt~agaJ if .pr~ifi..~ll~ ~~1 furth :~i~d Jt.rnhrd in Ihc Lr.~nw~~ .~nd h:~F+roJum cl:~u.r~ hcrruf. :~nJ wrh rc.ai~rr ~h.Jl h:~~r :~U tFer hra.~J ~nJ ctlc:t~~r (unciinn, :md puw rr. ~n .e~iy.+~.r rntru.t~J M.~ .~wr1 t.~ rc:riorr :mJ .u~h .~ppuintmrnl .h:~ll F+c mrJa h~ .unc ~~airt a. :m :~JminrJ ~yuit~ and a m.dtcr u( :sh.~ilut~ r~}:ht tr .:u~l mnst~a~:er. :~sid with„ut refrrencr to ~he adryu:~r> ~~r inoJryu:~c~ ~~t u~. ..„i thr praprrt~ mort- e.~erd nr tu thr .~,hrnc~ ~~r in.,~hrnr} ~~f .:,iJ murt~.~t~~r .,r thr .~rfrnJ.~nt. .~nd thnt .uch rrnh. pmht,. inc~~mr ~••ur~ .~nd re.:nuc. •h.sli .~ppf~rd b~ .uch rccti~er :~r.orifine to thr Grn ~d Ih~~ m.~~Ire~t anJ the pracNr~ ~~f .urh r~~urt. (n thr e~rnt uf .~m Jrf:~ult ~m ~hr ~:~rt Ihr m~~r;- ~:~c„r hrrcundrr. thc m~~n~.:+~:ar .~~:rrr~ t~. p:~~ n~ thr murt~:.~krr un Jrm:~nJ re.~,an:~hlr munlhly rentat (ur ~hc prtmi.~. .u~ .unuunt :~t Ir:~.t ryui.:dtm t„ ~mc-Iuelflh 1 UI'1 ~~t thr :~~~rrg.da thr t~ehc m~.nthh m.tel{mrnt. p:~}ahl~ in thr Ihcn ~urrrnl yr.~r ptu, Ihr .i:luat :imuuN ~~i thr .~nnu.J tn~e~. :~..r..menl~. watrr r.dr.. .~nJ inwr:~nre prrmium, (ur .u:h }r:,r n~~~ .ucrred h~ thr af„re.a~J mumhl? pa~ mrnh. t~~ 1 h:a ~.il m tbr t~ rnt ~~f am hrr:~rh of thi~ murt~:.~~c ~~r dr(.wtt .~n ~hr p:ut ut ihr m~~rt~:.~E~x. ~~r ~ h? in ~hr c~ ent tha~ nn~ ~rf ..u~i .um. ,•f °:~.~<<~ hrre~n rcfrr.rd t~. i+c m~t pmmpth :imf fulh p.+~J N~1hou1 drmanJ ~~r natiir. nr r m the r~rm Ih:d ~eih and e~en Ihr .UpuLilwn.. .~crrrm.n~. r~~nJ~dum. :~nd ~u~rn:~n~. uf .niJ nolr enJ thi. murt~:a~tr. arr out Juh . pr.~mpth . anJ fully ~~turmeJ: th~n ~n ~~thrr ~•r .ui~ ~u:h r~rni. thr ..nd.~cir~c:ar •~~~~m~J ~n.aid n~~tr thcn remainm¢unpaiJ. ~hh intcre~t :,rcrued thn~ timr..mJ.~ll munr>.•r:urrd i~~rcM. .h.~ll hri~,mr .iur .:ro~! p.n.,fdr f.~rthw~th „r thrrr.~fler. :u the opliun ~.f .aiJ murt~ere. r~ full~ :~nJ ~umplrlrl~ i(:~II uf ~he ..uJ .um. ~~f m~,~i- . r~ urrc ~~r~Nm.sllti .tip~slntrJ t., h: p.,~d .~n .uch J.~~ . nn~th~ng in ..~ut n~NC nr ~n thi, mun~:.~tr tu Ihr:untr.~ry nuiwitb.t:~ndin~: :md ihcrru~u~n ~~r ~htfCe~l~f. AI 1~1~ ~~Qh~~fl u( ..uJ rr.~~nc.~crr. w ith~~u~ n~~r.r ~N t~Cfll:~f1~~. ~IIII .N {du ur m rymh . rn.~1 f`C Q(U~CiUICt~ a. ~f ;~II m~~ney,.~c~ur.l hrrc- h~ h.~J m.~tureJ pn~~r ir tt. ~n.u~uu~~n It:..' murlE.~~:c. m.i~ (uttch~~r thi~ mutl~.~~r. .~.1~~ tbr .~m~~uot w dreLurJ due.~nJ pe}ehlr..md Ih~ ~:uJ prrmi.~~ .h:d! hc .u1J t„ ..~u.i~ .~n~l p.~~ mr .,,mc t~~~cthrr N hh c~~.t.. r~~+anK.. .~nd .~1low:~nrr. In i.~~r ~:uu.d fnrcc6~~urc Ih~. m~~r1E.~ic. thc m~~rl~necd prrmi.r, •h.~ll h~ .uld .u1,sc~t tu tht c.~nl~mun~ Itcn ~~t th~~ m„stge~;r t.,r 1hr am„uM ~~f thr dcM mN thcn dur:ind unp.~iJ fn .uch c:~~c Ihr pr~~~i~iun. uf Ihi. per.i~r.~ph m.~~ .~e.n~ tx .~~.~ikJ Ihric:~(!c~ (rom lim~ Io t~mc M ~h~ murt~;egrr - - ao~r~63 ~ 50~ . . . : , _