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Home My WebLink About0044 ) 1ci ~ ''IAa~, in ardr~ murr fuil> tu p~u~r.l tF?r .r.unq uf th~. mu?l~.~~t. lhc muil~.,~;ul. ~~y;c~Arr wqh.:~nJ ~n aJefui~~n to. ~he m~~A~htj pr~ mrnl. und~~ il?r t~rm. ut ~Ik n~Nr .r:ured hrnh~. „n ~hr fir.~ J,~> ~~f rach m~auh until 1hr wiJ nwc i~ (ullp ~uiJ. will p.~~ w ~hr mu~t~;akcr Ihc f+~Uuw - m~ .um.: ~:~1 ~1n amuum .uffi:hm tu pr~~~iJr tF?r huldrr hrr~uf wi~h funJ. a~ p:~y thr nr~t m~~rtg~~;r in.uumcr prrmuim if tAi. m.trumrnt anJ ~hr nulr .e~urrJ Arrrby arr in.urrJ. ur munthl> ~har}r Iin liru uf a m~~rt~,.~~r in.ur:~n~r prcm~uml if tht> are hrlJ by ~ht tirctrl,~r~ u( Nuu~ing:~od Ulbcm Iktrlupmrn~ a~ (ulluw~- Ih If :mJ .i~ lung a..aiJ nw~ u( evrn Jatt anJ ~hi. in.irumrnt •rrc io.urcJ ~u arr rrinwrrJ unJr~ 1he p~uci.ium uf thc t~;~tiun:J ti~w.in~; Act. :~n :~muunl .uf}icirnl to:KCe~mul:~tr in tl+t haoJ. uf Ihr MdJer unc ( I) mumh pri~w w il. Jue Ja1r thc annu~~ murl- ~::~~r in.uranrr p~rmium. in urder ~a pruviJr .uch MdJtr wilh (uMl. u~ pay .uc1? prtmium a~ ~he tiecrctary ot H~~u.ing anJ U~Aan Ik~rti~pmrm {wr.u:mllu Ihr N:uiun:J Nuu~ink Act.:~. amroJeJ. ~nJ applicahk RrgulatnM. the~cunJer. ~x UU 1( anJ .u lung a. .aiJ o~Nr uf tven Ja~r aflJ ~hi. in.trumrn~ a~r hrkl hy ~At tiecretary af Huu.ing:~nJ Urban Ikvek?pmrat. a munthly cha~ge lin lieu vf r mun~w~r imur.~n:r przmiu~l whkh .halt t+r in an amuunl eyu~l t~~ unr-Iw•e1ftA 1111'_1 ul one•twl( 111'_1 pt~ r~ntum uf thr averaE.e ouh~anJing f+alan~r Jue un the n~Nr rom{wltJ withuul ~ukink into acc~wnl Jelinyuencie. ar prepr~ mtnt.: ~ - - tb1 A~um ryuat tu the Eruund rrot~. if :~ny. nru dur. plu. the prrm~um. Iha~ witl ~e~l hec~~me Jut anJ pa~abk ~?n M~licie. u( fire aod whe~ AaruJ in.u~an~e r~~vtring ~ht murtgagaJ praperly. plu. ta~r, anJ a..t..mem. ne~~ Jue un ~he m~a~~gtJ p~upeny lall a. e.ti- malea! hy thr morlg:~rr ~ k.. ull .um. atrraJy {+riJ Ihrretor dividrJ hy ~ht numhe~ of month. lo rlap~e t+e(urc onr maolh pri~x lu Ihe Jutr w hro wrh g~uunJ rent.: p~emium.. Iu~e.. :mJ a.~e.~mrnh will hecWne Jelinyuenl. .urh .umr ta he hekl by m.u~~te in lruu tu pap .:eeJ gruwx! rtnt+. premium~. le~r,. anJ ~pecial a~~t.~mrnt~: a~xl 1r1 All paymrnt. memiu~rJ in ~he ~wa prectJin~:.uh.r~tium o(1hi. paragraph and :~11 p~ymeol. tu he m:,Je unJtr ~hr nwe.ccured hrre- hp .hall t+e :alJtJ lugether anJ the a~rrgate amount tlxreu( ~hall ix paiJ b~~ tlx murtgagor rach munlh in a.in~ k pa} m~n1 to he ap- . plinl hy Ihe m~+rt~agee tu the fullawin~ itrm. in the o~Jrr .tt forlh: 11~ premium rh:,rge~ unJer tF~e contracl inwrance v?ith 1hr Srcretar~ u( Huu~ing anJ UrM:m Ik~•rlupmtm_ ix monlhly chargc lin lizu o( mort~e inwrance premiuml. a~ the rr~e may he: 1111 gruu~xl rrnts. ta~es. a.~t~.ment~. fire. anJ whrr AaiarJ in.urance premium.: f NI interect on ~he n~xe .ecureJ he?eh~•: a,xf ~ - I IV 1 amurtization ~~t Ihe princip:~l uf ~aiJ n~Ne. T t Any deficieocy in ~he amuum ot wch:~reg~te mun~hl~ p:?ymem +hall. uMe.. maJe g«wi by the mort~~x priur tu Ih~ J Jrtt ~?t t~nezt~,it'`O w~h paymeM. cun.tilute an r~•ent uf Je(autt unJer thi~ murt~c. The murtgagce may ralkct a"lale clwrge" n~a to t~ree cent. 1 t~ir ~ earh dullar IS!! of ta:b paymml more than fiitcen 11 tl day. in •r~rear. tu cover the r~tra e~ptn~e im~~IveJ in hanJling JelinQucnl payment.: Th:a it tF?r tot-rl oi the p:~ymenh made by Ihe manp,agor unJer 1 hl of paragraph prec~fing ~hall e~ceed tlx amount of the payment. :Ktually made by the mur~g-aget, for grounJ rentc. ta~e+ •rnd a.~t~~meot~ ~nJ in.urance prcmiums. as the cace m~y trc. wch exct.~ i! !he loan is ~urreat, at the option of t6e mortgagor. shall, be credilcd on rubaequent payments to be madc by the mottgagor. or rc(unded to the mortgagor. 1t, however, the moothly paymeots made by the mortgagor under (e) oi p~tagraph 2 preceding shall not be sutiicient-to pay ground rents. taxes aad assessmenls and iasurance premiumc, a~ the case may be, whca t6e same shalJ 6ecome due aad pay- able. then the mort~aRor shal! pay lo the mortgagee any amount neceti.ary to make up tl~e deliciencr. on or beiore ~hc date wheo paymeat o( sucb ground rents, laxes, asscssmeuts, w iasurance premiums Khall be dne. (f at-any titde the mort6agor shal) tendPr to the mortRngee ia accordance with the ptovisionx o( thr oote securcd hereby, tul) paymeut o( the entire iodebtedness represent- ed thcreby, ihe mortgagee shall. in computioR the amouat o( cuch indeb~edness, credit to the account o( t6e mo~tRagor al) pa}mests made under the p?ovisions of of paragraph 2 hereo( which thr mortgaRre has noi become obligated to paZ {~u the Secretary o[ tlousinR aad l,4ban Devclopmeat ead any balance remaininR in the (unds accamulated under t6e provisions of (e) oI said paraqraph 2. Ii there sha11 be a de(aull under any o( the provicions of this mortgagp. resulting in a public sale o( the prewises covered hereby, or it the a~ortgagee acquires the property o~hern ise a[tet defauit, th~ morlgagee shall apply, the th~_time o/ the commencemeot of such proceedin~ or at the ~ime the property is ot6er~+i~e acquired, the balance thea remainiog in tbe tunds ~ , accumulated uuder (b) af pa~agraph 2 pteceding as a credit egaias~ the amount ot principal then remaining unpeid under said aote and sha!1 ptoperly adjust aor p•aymeats w6ich shall have been made uader o( said parap,raph. d. That he will pay all ta~e~. a+ee.~ment.. w aler ra~e~. anJ other governmeorrl or municipal clurge., fir~.. w imiw~itioac. tur whuh pro- v+.i.?n ha~ out t*cro maJe hereinhefora anJ io JefauA Ihereot !hr m~irlga~ee mry ~+a~~ Ihe .ame: :~nJ thal hr w i4 promplh• drli~tr the ufficial rereipi. thrre(ur to ~hr monFagce. ~ Thel he will permit. a~mmil. ~x wtTer no w•r~te. impairment. ur deteriuralNm of ~aid propeny oc any part thereof: ~nJ in Ihe event af thr tailure ot the mon~gor tu keep ihe iwilJing. ~?n wiJ ptemitir. •rnJ thoce to tie trertnl on wid prcmi.es. ix improvemrnt. thereon_ in gu.xi re- ~ ~+air. the mortle•rgee may make wch rep•rin a. in itc Jiuretiun,it m•ry Jeem necec,rry tor Ihe proper precerva~iun ~here~~t, a~.l the tull amiwnt of cach anJ every wch payment ~ball he immeJia~ely Jue rnJ payabk. aml ~hall he .ccurttii by the lien of thic mortgage. 6. That he w ill pay all anJ +ingular the costc, ebargec. •rnJ e~penses, incluJing reaconabk tawyer'~ kes, rnd eextt of abs~raets ot titk. in- ~ currcd or {+aid at any time by the mort~e;?gee hecause ot ihe failurc on the pan of tlx mongag~x promptly an~i fully tu perform tbe agreementc :uiJ raven•rmc.~f SaiJ promitsary note and Ihiti monp,:sge. atni +aid c~ntc. rharges. and e~pence< <hall be immediatdy Jue anJ payabk and ~hall hc .ccured hy the lien of this morl~ge. That he w•ill keep t!x impu»ement~ now e~i.~ingor hrreafter ertcteJ an the mort~;agcJ propeny. imureJ ac may he requireJ trom time to time by the mortg:4tee ;~ainst kns by firt anJ olher h:uafdc. cawahirs. and conlingencic~ ia ,uch amounh •rnJ tor wch perial~ a~ may tx required by m~xt~:?gee, and will pey promptly. v?hen due. any premium. oe wch inwrancetor payment af which pr~wi~ion ha. nw heen maJe hereinhe(ure. AI! inwr•rnce ~hall t+e rarrieJ in companie~ approve~i by morlgagee anJ ~he policics anJ renewai, thereo( chalt be heW hy mortg•r- ger and 6ave att:~ha1 theretu los. payabk cFauses in favor of and in torm acctpt~bk to ~ht mort~ragee. !n event of lo+~ he wiU givr immeJiate notire by mail tu murtgagee_ and mortgagee may make proof of Mss it nd maJ~ promplly by mort~ragor. and each inwrance company con- cerned ic herehy :wtMxized and JirecteJ ta make payment (or ,uch luss direcUy ta mungagee inatead of to mongagor anJ mongagee join~ly_ i anJ Ux inwrance proceedc. or any pan thereof, may t+e apptinl by mortgagee at its option either to the reduction of If~e indeMednes. bereby i .ecured ar to the restoration ~x repair of ~he propcrly damaged_ ln evem of torecb~urc of thic mongage or olher tran+fer o( titk to the morl- ! gageJ pmpeny in extinguishmenl of tht irnlebteJnes~ serured hereby. all righl, tilk, and int~rest of 1he mortgagor in •rn~i ro any in~urance poli- 4 cies ~hen in torce shall pass to the purchaur or grantee. ! 8. That if the premiux. or any part thercuf. tx conJemnr~f unJer any puwer of emineol Jvmain. or xyuireJ for a public u.e_ the Jamagr.. ~ , proceeJs. anJ the ronsideration for such acquisition. to the e~tent of lhe full amuunt of imlebteJneci up~~n thi. Mor~gaga anJ ~hr Nixe .ecurrd ~ bercby remaini~ unpaiJ. are hereby acsigneJ by the Mortg:~tor ~o ~he Mortp,agee anJ chall he paid (o~thwi~h to ~Ix Mon~tet ~a t?e applied by it an ;ucoum of ~hr inJebtcoess secured hereby, whcther Jue or not. ~ H. nlat lht murt tt ma at an tifllt ~ gag y. y penJnsg a suit uport thic mortgage. apply to Ihe cuun having jurisdiction ~hereof tor Ihe app~~int- € ment ut a receiver. anJ such caurt shall forthwith appoint a receive~ ot ~he premius covered hereby all and singular. incluJi~ all anJ .ingular j the incoma pr~~fits. issucs_ and revenues (rom whatever wurce Jerived, each and every ot which. it being exprescly unJersl~wd. is hereby ~ mongagnf as if specifically se~ tonh arnf de~cribed in the ~reming anJ habenJum clausec hereof. and .uch receiver shal! have •rU the bruaJ anJ ~ etiective functinnc anJ powerc a~ywise entrusteJ by a court to a receiver_ and cuch appointmen~ ~hall tx maJe by ,uch court a~ ao aJmineJ equity and a matter of absolute right to caid mortp,,;~tee. anJ w•itMwt rcference to the adequacy or in•rdequxy of Ihe value of tF~e property m~~n- _ l:aged or to ~he .alvency or imolyenry nf wid mortp,aFor ~~r ~F?e dctendanh. and Ilw~ wrh rentc. profih. ina~me_ i~.ue._ anJ rr~ rnur+ .haN he -rpplic-~16y such receiver accurding to ~he titn of this martp•rge anJ the practice of such coun. !n the event of aay default on the pan ot the mort- g:ig~x hertunder. !he morlgagor agrees to pay to Ihe mongrgce on demarul as a reasonabk mvnthly rental far Ibe premi~es an am~wnt a! ka~1 equivaknt tu one-IwelNh 11112) of ~he ap,~ueg+te ot the twelve monthly inclallmems payabk in the Ihen current year plus ~he aclual amoum of the annual taaes, acxssmem~. wate~ rates. and inwrance premiums for wch year nd covered b~• the afaresaid monthly payments. • 10. That (a1 in th~ event of any txeach of this murt~ge or default on the part of Ihe martiragur_ cu 16) in the event that any u( w~iJ .um. money herein reterreJ to he nW promptly and fully paid without JemanJ or ndict. or Icl in tt~e event that e•rch anJ every ~he •tipulation.. :?greements. conditions_ and covenants of ~aiJ natt and lhis mon~e. are no1 duly. promplly. and fully performed: ~hen in either ~~r any uich evem. ~he wiJ:?ggregate sum menuone~l in wiJ nvte then remainingunpaid. with interest accrued to that ieme. anJ •rll money+ucureJ hereby_ .hall txcome doe anJ payabk torthwith~..x Iherea(ter. a1 ~he option o( wiJ m~~rtp,agte, ac tully anJ completel~ •rc if all of the wiJ wms i~f mon- ey were originally uipulatnl to he paid on wch Jay, anything in said nMe br in this mortgage to ~he contrary rw~withuanding: anJ thereu~wn or ~hereafier. a11he option o( wid murtp,agee. without ~x~tke or Jemaed. wit at I:aw or in equity. may fx pro~ecuted a~ if aN money..crureJ hert- by h:Nt m•rtureJ prior to its institution. The mortgagee may forccbst thi+ m~xtgage. as to ~ht amiwnt ~ JeclareJ Jue and payabk. anJ tht •aid prcmixec sh~ll Ae sold 1o saticty and p•ry tlx samt ~ogtlher with rmts. e~penu~. and •rllowances. In race ~f partial (arecbwre ot thic mongage. the mongaged premises shall lx wld subject to ttx conlinuing lien ot Ihic murtp,aNe tor the amuunt of the debt n~~t then Jue and unpaid. In wch case the proviuons ot ~his paragraph may again he avaikd uf tlxreafter ftom lime ~o ~ime My the mvrtgal[te. ~ ~ ~ ~ ~ ~ a~x 27~2: 44 ~ . ~ ~ . _ - ~ ~