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Home My WebLink About0138 Th:N. ~n urdet m~~tt (ully ~o pro~ecl ~he cerun~y ut Mic mong:y~e.lht man~at. t~~gelher wi~h. uxt ~a aJJuiu~ iu. Ihe muothly pa~ menlc urnler Ihe tums u( the nute secured hereby. on the 6rs~ ~ar ot~ach mon1A un1i1 ~he ~.id nae ia fully pa~d. will pay t~ the mor~g;~te ~Ae (ullow- ing sums: r' • .i• Ia1 An amount wficient 1o provi~fe the M~We? hereo( wilh tunJ~ tu pay the next ma~l~e ~n~ur~nce premium it thi~ in.trumenl ~nJ ~ht ~w1e secured hereby are imured, w a munlhly ciurge lin litu.ut a murtga~e inwrance premiuml i! Ihey ~~e hcW by Ihe Secretaty ot Housing and Urban tkvebpmeM as tolbws: 111 It snd so bn~ as said nde of even Jate rixllhis instrument are inwred at are rtinwred undt~ Ihe pro~icions u( the Natiunal Huusir~ Acl. an amounl sufl'ir~ent lu accumulalt in the henJs ot U~e holder ont 111 month priu~ Iu i~~ due dale the annual mo~t- gage insurance premium, ie ordet to provide such holder wilh tunds lo pay wch ptemium to 1he SecrNary ut N~wsing and Urban [kvelopment put~uanl lo Ihe Naliunal Nousi~ Acl. aa amaxled. anJ applicabk Regulauons tAereu~xler: or 1111 If anJ w bng as said nole of even dalr anJ this instrument a~e Acld by Iht Sccret•ary ot H~w~ing ~nd Urban Ikvclopmenl, a ~ monthly charge tin lieu of a matl~agt imurance premiuml which shall t+e in an amounl equal to o~e-twell~h 111121 at one•halt 11/:1 per centum ut ~he average ~wl~tanding t+alanct due on llx nde computed withoul uki~g into account delin~uencie~ ur prepaymeMs: IA) A wm eQwl to Ihe grournl rents. if any. nexl Jue, pluc the premiums that will nexl become due ~nJ payahk on policiec ut fire and wher hetard insurancc covering Ihe morlgaged propeny. plui taaes anJ ascessmenls neat Jut on lhe murtgageJ properly Iall a~ e~ti- • ma~c~1 hy the murlgageel kcc all wma alreaJy paid therc(or diviJed by Iht number a( monlhs Ia elapce txtorc ~~ne mon~h pri~x lo ~he date wAen v~ch ~uunaanls. premiums, ~a~es, anJ as~e+smcets will lxcome detinyuenl. such eums ~o Ix heW by mon~:y;ee in trua 1a pay caid grouM1 reors. premium~.latiea. anJ epecial axucsments; and Icl All paymenl. m~nNi?oa1 in the two preceding wbsec~ions of 1hi~ paregraph and all Mymemc In tx m•rde unJrr ~he no~e .ecureJ here- hy shall tx aJdeJ tugdher arn1 ~he aggtegate amuunt thereut ehalt tx paid by the mangagor ea:h munth io a.ingk paymenl to Ix ap- plied by Ihe mortgegee lo Ihe tolbwing items in the orJer xl (urlh: Ih premium charget under ~Ae contnct ot inwrance with 1he Secrctary ot Houcingarxl Urban ikvelopmem. or monihly chargt tin licu ot morlgage inwrance premium). as 1he cace may l+e: 1111 ~trowxl renls. laxes. a~uscmentt. 6re. aod wher hazard inwrance premiums: _ 1111 intere~t oa the nott ~ecured hereby: anJ ~ IIV1 amortizali~ of Ihe principal of caid notc. Any Jtficiency in the amounl ot wch aggregate manthly payment shall. unkac made guod by the mor~gagor priot 1~~ Ihe due dale ot the nest wrh payment. rnmtitute an evem ot detaull under thic murtgage. The martg•rgee may colke~ a"lalt charge"not to exered bur ~~ent.14t1 ~o? each Jullar IS110( each payment more ~han fi(teen 11 SI Jay~ in arrears ro rover ~he eura et{+ence invalved in handling Jeliayuen~ ~uymen~~. s. Thal if the IWaI ut Ihe paymenls made by Ihe murtgag~x unJe~ IA1 of parag~aph ? preceding chal) txcteJ Iht amoum ut the paymenl. :ktually maJe by ~he mortg•rgee. for grouMi rcnt.. la~e~ anJ aeee+~men1~ and i~wr•rnce prrmium~. a+ the ca~e may he. .uch c~cr~~ i( the loan is . ~u~rrn~, at the optioo of the mortRago~, sh~l, be credited on suDsequent paymeo~s to be madc by the mortgagor, or re(unded to the mortgagor. I(, however, the monthly payments made by the morlRagor under (b) of paragraph 2 preceding sAall not ~e su((icieal to pay qround rents, taxes aad assessments and iecuraace premiums, av Ih~ case mav be, wheo the same shal) brcome due and pay- able, then the mo~tRaRor shall pay to the mortRagec aay amount nece~~ery to make up the de(iciency, on or before the dat~ wheo payment o( tiuch ground teets, taxes, assessmeat~, or ia+urance premiums ~hall be due. It at any time the mortgaRor shall tender to the mottRagee ia accordance hith the provisionR o( Ihe aote secured hereby, full paymeot o( ~he eotire indebtednrsc represen~- ed ~hereby, the mottgagec shall, ia ~•omputiaR the amouol of such inJebtedness. cr~dit to the account o( the mortgagor aU paymentc made under the prnvisions u( o( paraqraph 2 hereof which thc mottgagee has aot become obligatcd to pay to the Serr~tary o! HousiaR and Urban Develupmeat and any balanc~ rrmaining ia the (unds ac~umulated uader the provision~ o( (e~ o( said paraqraph 2. I( Ihere shall be a default under aay o( the proeisionc of this mort~aR~, resulling ia a public sale o( the premises covered herebr, or if ~he mortg:~Ree acquirex the property olherwise a(ter Jetault, th~ mortgaRer shall apply, the thr time of the commenc~cment o( such proceedings or at the timr the property is othen.i+e acyuited, the balance then remaininq in the (uads accumulated uader (b) ol paraqraph 2 prereding as a credit agaiost the amount of principal thco remaining unpaid unJer said note anJ shall properly aJjuct any payments r.hich sha~) have bepn made under ol said panRraph. 4"1 ha~ he w ill pa~ aU ~a~e~. a~.t..ment.. N:~Irr rate~. anJ ~xher gu~ernmental or municipal chargec. nne.. or im{+o.i~ion.. far w hich pro- ~~.iun ha. nat heen m:~Jr hrrrinhefurc. :~nJ ~n dr(auh ~hrrtuf Ihr munFa~er may p:~~ ~he .:~mr: and 1ha~ hr will prumptly Jr~i~rr ~he utti~i:d - rrctiph ~hrrrtur tu ~ht mort~::~gtc Thal hr N ill {+rrmi~. cummn. ur .uHer nu ~,.tc. impairmrnt. ~~r Jtleriur.~~iun a( ,:~id property or any p:ut thrrcof ::mJ in ~hr rvem uf thc failure uf the mnrtgagur lu kcep the buiWing~ un v~iJ prrm~~e.:~nJ Iho.e tu he ercclyd cin vid prrmi.e.. ot impn+~ emen~. ~hr.reun. in ~~Hxf rr- pair. the mortga~:ee may make wch rcprir~ a+ in ~tti JiKrtliun il may Jrem nece«ary• (or Ihe pro~+er prr.ervation ~here~~(. .~nJ tFx (ull :~muunt i~( , cach anJ every +uch pa~ ment .hrll he immeJiately due anJ payahk. anJ ~h:dl tx ~ecure~} hy the lien uf thi~ murt~;a~r b. That he will pay all anJ ~ingular !he cocta_ charge.. anJ e~~+eme~. incluJin~: rea~onabk lawyrr'ti (ee~. and co.t. ~d :~b.~r•rc~~ of ~i~k. in- curreJ or paid at any time by the mortgagee txcau+r ~~f Ihe (ailure .?n tlx part ut the murtgagor pn~mptly anJ tully te~ prrfurm ~he :~~rcrmcnh i .~nd c~~ven:mt. of .aid promi..ury niNe anJ Ihi. murtEeEr. anJ w~iJ cu.t+. charge~. and r+~peme+ ~h:Jl ht immeJiatrly Jur :,nJ pa! ahk and ~hall • he ucured hy the lien uf Ih~. murtgage. • 7. Th:~l he will kerp ~he ~mpru~rmrnt~ nuw r~i.ting un c~re:~(~er rrcrled.~n thr mort~;agrJ propcrly in,urrJ a. ma~ ht rcyuirtJ (rum timt i tu time h~• Ibr murtg:~Eer :~g:~im~ lu~~ hy fire anJ ulhrr h:varJ.. c:~.u:d~~e.. anJ runtingertrie~ in .uch amount~ :~nJ for wrh prri~xl.:~~ may t+e reyu~reJ hy murtg:~gee. anJ will pay prumpUy, whcn dur. any premium, ~~n .uch inwranre tor pc~ymem i~( Mhich pro~~.ian ha. na F+rrr. made ` hrrcinbe/ure. All imur.m~e .h:~ll he c.~rrieJ ~n romp:mie~ appruvrJ h~ mortg:igrr .mJ Ihe pulirie. :~nJ renew:~l. ~hcrcot .h:dl he hcW h~ murtg:~- ~~e :ind hrve anached thereto lo.~ pay:~bk clau~e~ in (:nur ut:inJ m(orm arceptahk 10 ~hr m„rt~agrr- In even~ ut lo.. hie w ill ~i~e immedi:~~r ~ f nutict hy m:~il tii murtFaFee. anJ mungagr~ may maAe proof o( lu.. if aa made prumpUy hy murtp,aKor. •rnd each inwranre cumpany con- ~ .rrnrd i~ herehy awhunirJ and directrJ to m:~Ae paqmrnt fur .u:h k~.~ Jirectly lo morlgagte imlcaJ ot to morlgagur anJ murtgagee juinlly. ~ :mJ the in.ur:~nce prikeed~. ~~r any part Ihercut. ma~• he applied hy murty,agec a~ itc uptH~n eilher to tix reJuction ot the inJeMedneti~ hereh~~ .r.ureJ or lo ~he re+tur:diun ur rtpair uf tht pr~~~?erty JamagtJ. In evrnt a( forrck~~urc u( 1hi~ murlgagr or o~htr lramfrr of titk lo Ihc murt- ~ gageJ prupeny ~n extingui+hment ut Ihe irJehteJnc~..rcureJ hrrrfiy. aU n~ht. tille. anJ intcrr.~ of ~he mortg:~gur in and tu ~ny in.uranrc ~x~li- ? ciec lhen in forct ~hall p:n. tu Ihe purcha.er or Fr.m~ec. 1t Th:d if the prtmi~t.. ur ~ny parl lhereuf. he c~roJrmneJ unJer ;my ~w?w er uf ~minenl Ji~main. ur acyuired fur puhlir u.r. thr Jamrgr~. ~ pnxeed~. :~nJ the comidtration fur .uch :Kyui~itiu~. t.~ thr e~tem o( Ihe (ull :~m~~unt o( indehleJnc.~ upon thi~ ~tori~;age. and thr No~e :erureJ ; hrreby tem.uning unpaid. are hcrehy a..i~neJ hy ~he Nor~g:~gur ~o thr ~lorigagre anJ ,hall ht paid furthN ith to ~he ~1.~ngagee to he :~pptirJ by ~ d un :kcuum o( the indehtene» .ecured herehy. whether Jue ur not. H~Th:d Ihe mori~::~gee m:~~. a~ am ume pendinF a wh uM~n Ihi. murtFage. apply ti~ tbe c~wrt ha~ing ~uri.Jictiun thereuf for thr appoint- ~ me~t u( a rece~.er. :mJ wnc ~~~url .h:Jl tur~hwilh apM.im rcetivcr of 1he premiu. rovereJ hrrehy all anJ ~ingul:ir. including :dl anJ .ingular _ ~ ~he incumr. prufil~. i+we~. and rrvrnue~ lrom whate~er .uurce Jerived. each and every u( which. i1 heing e~pre~~l~ unJer~tiHx1. i~ herebp - 3 murtg:~geJ a~ i( ~pec~fically .et (orlh an~i Je.criReJ the Frc~nling anJ hahenJum clau.et herco(. end wch rtce~~er .h:JYha~e atl the hruaJ anJ ~ etlective funcliunti and M~wer~ in anywix entru.trd hy cuurt tu a rcreivtr. ~nd wch ap~xrintment ~hall Fx maJe hq +uch ruurt a~ :m aJmitteJ ~ eyuily anJ a matter of ah.ulute right to ~aiJ martgagee. and M ith~w~ rc(erence to tht rdeyuary i~r inaJeyuacy uf ~he ~~aluc uf the property morl- ~;.~~:eJ ur tu Iht +ul~rncy ~~r in,uhrocy uf .:~iJ m~~ng.~~,~~r ur Iht Je(rnJenl.. .~nJ th:N +uch rrnt.. prefit~. ineumr. i..ue.. .mJ revrnut. ~hntl br z applicJ b~• wch receiver a~corJing tu the lien uf thi~ murtg:+gr end the practice of wch c~wrt. In 1he event o( any Je(rul~ on the part of tht mort- gagor hereunJer. the mortgagur agree~ to pay tu ~hr mur~gagrc on demanJ a~ a rea~onahk monthly rental (or ~hc premiu. an amount at kaa i cyuivalcnt to ona~wcltth I II1310( the aggregatt o( ~he tweht munthly imtallmeM~ payabk in ~he then curtem year pluc ~he actual amuunt o( the :~nnual 1a~e~. a~.e«mentti. water ra1c., and inwranre premiumc (or wch year nol co~•ereJ by the atore~aid monthly pa~~mrnls. 10. 'Thal lal in the event uf any brcrch o( ~hi. mur1E;:,ge ot Jefault on the pan of the murt~agor. or 16) in the event that any o( .aid sum~ of money herein ?eterred ~o tx nid aromp~ly rnd (ully paiJ w~tMwl demand or notice. or (cl in ~F?c cvent that each anJ every ~he .tipulat~on.. ; ' acrecmentc. cooJiuon+. rixl rovcnanlc ot ~aiJ notc ,mJ thi~ mortgage. are not duly. prumplly. and tully performeJ: then in cither or any wrh ` event. tht +aid a~regrte .um memioned in .aiJ niHe Ihen remaining unpaiJ. with intetest accruedio ~hal lime_ anJ all moneyc ~ecureJ herehy. - .hall hecume Jue •rnd payabk furthw rth_ ix Iherta(ter. al Ihe option of SaiJ mortgagee. as fully arxl compktely ac if all o( ~he ~aiJ wm~ of mon- - ey were originally ~tipulaled ~o ix paid un .uch Jay. anything in ~aid note or in thie morlgage to ttrc contrary nwwiths~anding: and thercupon or ~ ~ there~fter. at Ilx op~ion o( ~aid mortgagte. withiwl rw~ice or Jemand. ~uit at law or ~n equity. may bt proseculed as if •rll money~ secureJ here- ' z by IwJ maturcd pri~x lo it~ imlitulion Tht morlgagee mey fosecbse Ihic murlgage. a~ lo Ihe amount ao declartd due anJ payahk. and the caid i premise< <hall he sold tu ~a~i~fy anJ pay ~he e~me ~ogelFkr with co~tc. espenu~. and allowance~. In catt of partial forecbwre oi lhic mortgage. i ~ht mortgaged premi~e~ ~hall fx ~old whject to the con~inuing lien ot thix mortp,agelor the amiwnt o( the debt not Ihen due and unpaid. In wch : cax the ptovisione ot Ihis paragraph may again hc avaikd ot IFrcrcafter (rom timc to ~ime by tF?e mor~gagee. : ~ ~ _ ~ ~ - ~ x~ ~ - ~ ~ Y - - . - ____-----r-_ . _ _ _ . ~ s ~ ~ed ~ 5 '~`4s~-r ~ y,,,~ .~'^Y~ - - ,0p<i'i=~.LL? . ' ~ ,t~..;-.~: