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Home My WebLink About0292 2. ThN, in ardet ~a tuNy lo protat the security oi this mart~e. tAe mottp~a. to~ether vitA. ud in additio~ ~o, the monthlY paYments under tAe terws d ~he note secund hercbY. ~ the brst d~y d e~ch aaS}th until tAc s~id iwte is IuNy wiN p~r to tlx aa~tp~ce the (olbw- ins wms: (a) An ainouet wQkisnt ~o Ptovile tM Mflder hereot with tunds to p~r the neXe mo~tp~e inwrana premiwn it ~his insuument and tbe note secuned hersby are inwred. or a monWy char`e lie lieu d~ mort~e inwrance py~jY~ jtMy ~ held by tAe Secretary ot . ; Housix~ and Urb~n Deveio~t as follows: ` N (p 1/ an~ w lonj a~id note d even d~1e and U~is insuuu~ent ~re inwred or ~te reh~wred u~~ t~ovisioe: of the Nuional , ; Housin~ /1ct. ~n amoue~ wl~cient to accumulue in the Nandi ot the holde~ one l ll a~oeth Orior to its due date the annwl mon- p~e i~u~noe ~eaaw. io ordet to pwvide wd~ Aoidst wiW tunds to psy wch /rsmiuw to the Secrotary of Hwdn~ and J U~b~n Development purswn~ a ihe Na~ional Housins Aci. ss aaended, and aPVlicabk R~NWioas the~eunder: ar j llp It and w lon~ as s~id nwe ot evea date aod thi: instrument are held by the Secrotary ot Hw~si~ amf Urban Uevebpmrnt. a, ~ awnthnr d~u~e (ie lieu ot a unortp~e inwrancY promium) which shall be in sn amouat equd to one-twelith 11112) of one-half . (1/2) pet centws o( the averye outstandiK b~lance due oa the note computed without takin~ into sccounl delinquencies or ~ PnMYments: ~ 1b) A wm eawl to tbe p~ound reats, if any. aext due, plus the pre~uiwns lhat wiU next baane due and payabk on policies ot firc and wAer hazard inwrana covai~ the mony~ed propeny, plus tazes and asaesw~ents neat due on the mort~a~cd property (sll as esti- mated by the mort~a~ee) ku dl wms alresdy pid tbuetor divided by the number ot months to elapu before one month prior to the i - date when wch ~round rcnu. premiums. tues, sr~d uxssments wip Decane delinquent, wch wms to be held by mon~ce in trus~ ~ ~ to pay said ~ound rceb. premiums. taxa. and special assessments: and (c) /?p paymeats wentioned ie the two precedin~ wbsectioos ot this para~nph and all PsYe~e~ts 1o be n+ade unde~ the note secured here- by sMll be sdded to~ether and the agRe~ate amount thcrcot shall be paid by the mortp~ot each month in a siogk paymeot to be ap- plied by the etort~ee to the tdbwi~ iteens in the order set tartA: ~ IU premiwn cMrees under the ca~trnct ot insurance with the Secroary of Housin~ and Ufian Developme~t. or monthy charge ~ (io lieu d n~atp~e inwtanoe premiuml. as tAe c:ase may be: ~ qU p+ound rents. tazes. assessmen~s. firc. and aher hazard insurance prcmiums: llll intercst on tAt note sesurcd hcrcby: and (M amortiutioe of the pri~ipal ot said nae. Any deficiency in the amount of wch a~rKate moothly paYmen?shall. wdess made ~oodby tbe mort~ prior to the due date ot the next such paymcnt, constia~te an eveM o[ detwlt under ttis mortp~e. The mottp~oe may oollect a"late cMrse"aa ~o Qoeed br oeats (4t) ~or esch dollar (!Q ot ach payaient more than 6fteen (IS) days in amus to cover tbe eatrs expense invdvod in handlina delinqueat payments. . 3. 'Il~at if tbe totd ot the payments made by the mortsajet under ot p~ra~aph 2 precedin~ shall exoeed the amount ot the paymencs ; actuallp made by the mort~asee. tor pound rents, tazes and uxssments and inwnnoe promiums, u the cax may be, such ezcess ii the loan is catreat. at t~e optloa oi tLe sat~asat. s6a11. be credited o~ s~bseq~ett pap~eui to be o~de bp the mottse6or~ or retti~ded to the ~ oorts~~or. li. ho~rerer. tke ~oat6lr p~pae~ts wde M the vart6asor ade~(~) ut PangaPti 2 P~'°cedb6 sk~ll aot be safficient te , 'pap Sroaad reats. u:es ud assessoeats nd iasanace pro~ioss. as tbe case snr be. ~an t?e saae s~dl becooe dne a~d pay- ; able. the~ t6e eort~sot s6~11 par to. t6e ~oRs~ee uy rroaat iecessur to ~ate ap ttie de(icie~c~. o~ or betore the dats,when parieat oi srch ~roa,d reats. t~:es, assess~ents. or iasoruce pr~iu~s s~~ll be dae. It at uy tioe c6e mortgagor sLal1 twder to t6e vort6a6ee i~ accordasce witk the provisions oE the sote secarad hereb7?. t~ll p~~eat of the estire indebtedsess reptesent- # ed tderobp, tke ~ott6a6ee ~Lall. i' caapatiag tLe amoont ot such indebtedtess. credit to t6e ~ccoaat of the oorl~aaor dl pa~eoca ~de aader t~e provi~ions of ot pua~rap4 2 6ereot ~r6ich the ~orts~~ee has aot beco0e obli~ted to par to.tLe Sec~etar~? of Hoosias asd Urbu De~elopoe~t aad anr balasce resaiai~6 ia the timds accuoleted aader the pco~?lsions ot (bj o( said para~tapi 2. lt tlete ekall be ~ dela~lt aader aar oi ttie pro~isioas ot this aortpse, resoltlns is a pablic sale of the ptemi~es co~ered herebp. or it tLa sott6a6ee acqoites the piopertp olherwLe ~ke~ deiaalt, t6e a~ort6aRee s6~11 applr, etie the time of tLe cosseace~t o[ soc6 ptoc~eedta~,s or at tAe tt.e the propecty ia otLerwise acqsited. tne bal~ace thea rcm~iniag in t6e taads_ i pro accualated wdet ~6) oI p~ra6np6 2 pceced'u6 u a credit ~s~iast tbe uoaat oi pri'cipal tken remainiu6 anp~id ander s~id aote ud s6a11 properip adjost any para~eats M?bich shall tia~e beeo made a~dcr o( said para~epb. 4. •Iliat he w~i11 oay a11 taxes, auessments. water ntts. and other govemmental or municiQ~l charges. ~hnes. or impositions. (or which pro- vision has not been made hereinbetore, and in defaul~ thereof the munga~ee may pay the same: and that he will prompily deliver the official ~ receipts theretor to the mortgagee. ~ ~ S. 1Lat he wiU permit. commit, or wfter no wute. impairment. ot deterioration ot said Property or a~y Part the~cof; and in the eveot ot 1he # tailure of the mort~or to kcep the buildinas on uid premises and those to be erected on said promises. or improvements Uxreon. in good re- ~ pair. the monga~ee may malce wch repairs u in its discrctian it may deem necessary for the proper preservation thereof, and the tull amount of ach and every s~ich p~ymeot st~all be immediatdr du~ and payable, and shall be secured by tbe lieo of this mortpse- 6. 71ut he will pay all and sing+ulu tl~e costs. charaes, a~id expenses. inchdio~ reasonabk iawya's kes. and costs oi abstracts ot titk, io- c~med or paid u any time by We moripgee becwse of tbe failure on the part d the mortp~ar Prou1W~Y and fudy to pertorm thc agrcements and covenants of said ptanissory nwe aod this mortga6e, and said costs, char~es. and expenses shall be immediately due and paysbk and shall ~ be secuted by the lien ot this mottp~e. - ! 7. That he wi8 keep tbe improvements now eaiuing or hercatter ercctod on tbe mortpsed property inwred as may be requircd tron~ time ~ to time by the nortaagee against lou by fue and wAer hazards. awaltia, and contin~encies in such amounts and tor such periods as may be required b~r nwrt~te. and w~iU p~Y PromW~Y• N'he~ due. any ptcmiums on wch inwrana tor paya~eat of which ptovision has not been made hereinbefore. Ap inwranoe ahall be curitd in canpanies apptoved by mortp~ee and tbe policies and rcnewals tMereof shall be heW by mortga- gee and have attached theroto bu payabk clwses in tavor of and in torm acceptable to the morlpaee. ln event ot bss he will give j~nmediate notia by mail to mort~ee. and anoA~agee may make proof ot loss it not msde P~~P~fY M~ and each inwrance company oon- amed is hereby wthorized and directed to make payment iw wch loss directly to ~ott~a~ee instad ot to mortpaor and mort~a joinUy. and tAe inwrance proceeds. or any paR tl~eot. may he appliad bY a~ort~e at its optan atber to the reduction of the indebtedness hereby securcd or to the restoration ar ropair of the Property dama~ed. In event ot torcclowre ot thes mort~e or olhe~ transter of titk to the mort- ~ ~ed property ia exti~uishment o[ the indebtedness securcd hercby. all rijht. titk. and inurest d the mortsssor in and to any inwnnce poli- : cies tl~rn in torce shall pass to t6e purchaser w aantee. ` 8. _That it the premises. or any part thereo(. be condemned uoder any power ot eminent domain. or acquired tor a public ux. the damases. r procoeds, and the considentan tor wch scquisition. to the extent ot the tup amouM ot indebtedness upon this Mortaage. and the Nae secured 2 hereby rcmainin~ unpaid. are hereby assip~ed by tl~e Mtortp~or to the Mortia~ee and s6a11 be paid forthwitl~ co the Mortgagee to be applied by > u on account ot che indebca~ess saurod hersby..vAaher due or na. ~ 9. That the mortp~ee may. at any ume pending a wit upon this mortp~e. spply to the couA havin~ jurisdiction thereof for the appoint- ~ ment oi a rccaver. and such oourt shall torthwith appoint a rcceivu ot ihe prcmises covued hueby all and sin~ulu. including all and sin~ular J the inoome. pmfits. iswes. and rerenucs lrom whateva source derivod. each and every of whicA. it beins expreuly undentood. is hereby mort~ed u if specifiall~r set [onh and desen'bed in the ~rantir~ and lnbeedum clwses hereot. and such roceiva shall have all the broad and etfective (unetions and powen in anywise eowuod by s court to a«ceivet. and wd~ appoiMment shall be made by wch court u an admitted equity and a e~uter ot absolute ri~t to said mort6a~oe. and without re(erenve to the adequacy or insdequacy ot the value of the properev mor~- ~ p~ed or to the ~otvency or insolvener ot said mort~or or the detendants, and that such rents. pro6ts. income. issues. and revenues shall be ~ ~ applied ~y wch receiver accordins to the lien d this mort~e and the practice of such coi+R. ln the event of any detwh on the part of the mort- s to to the mo on demand as a ressonabk nwnth~y rc~W tor the prcmises an amount at kut , ~ p~or hereunder. the mortia~or apee WY ni~ cquivaknt to o~wtwelfti~ (1112) d the aatesate ot the twelve monthly insWla~ents paysbk in the thee current yar plus the actwl amount oi ~ the antwal taxa. aasessa~ents. wuer ates. and insunnce M~mi~lms for such yar not oovaed by the doresaid moMh1Y WYments. i 10. That ts) in the event of any breach ot this mort~age or defwk on the patt of the morlsa~or. or in the event that any ot said sums of _ ~ money hercin reterted to be not promptly and tully paid ~rithout demsnd or notice, or (c~ in drc event thsi ach and every the stipulatioos. : agreements. caditions. and covenants ot said note aod this awtt~e. are not duiY• P~~P~~Y. ~ tu~y 0~~~~: ~n in either or any wch . ~ event. the said aprc~ate wm mentia~od in said note tl~ remai~ uop~id. with interat accrued to that tiroe. and all moneys ucured hereby. ; shall become due snd payabk torthwith. or thereatter. at the optio~ d~aid mort~~ee. as tuNy snd canpktely as if all ot the said sums of mon- i ~y ~~rc o~i~tr ~acea eo ~~a o~ ~n a~r. anythin; in'said note or in dns a~ortp~e to the contrary notwithsandi~: and thcreupon or 3 theroattet. ~ the option af said mort~ee. witFrout naice or deaund. wit st law or in equity. may be prosecuted u it all moneys secured hero- ? by had matured prior to its i~titutan. The mort~ee msy torccbse this awrtsa~e. as to the amouM w declared due and p~yabk. and the said ~i ~ ww ~o ~c~tr ~a ~y ~~e ~o~eet~ .?~m oos~. t allo+wsnoes. In case ot partial t~eclowro oi this mort~ge. tbe morisa~ed preaises sh~l be sold wbject to the continuins pp~ 1~ ' . the amouot ot the debt not then due and u~psid. ln wch , case the provi~oas ot this parasraph may asain be avaikd ot theteatta ftow tia~e to tio~ by the aiortp~ee• • ~ . ~ z ~ BOUK ~ / PAGE - { J'.. :~3 . . _ _