HomeMy WebLinkAbout0308 1 hat. in wJrr nl,ar fully al plutiit thi ,rcunty a.f thi, murtgagi. thi murtg,ltur. n,t;rUlir \uth. ,utJ tn,lalJiuuo tu. thi nuauhly paynlrnt,
un,kr the term, of thi Hula, ,rculrJ hrrrh\ . tin the hl,t Jay ul loch nualth until the ,aiJ null i, lolly p:ud. w III pay to tha• nnatgaEii thi (allow -
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1,11 \n amuunl vtllicirnl h. pn,\iJi the balder hrrrul w hh (anJ, t„ p;ly the nr\t nlung,lt:r in,urlnci prinuum i( thi, m,tnunint .Ind thi
Harr ,rcurrJ hrriM art n1,ureJ. ur .1 nulnthiy ch;tier Iin lira ,If :1 munga~r in,urutcr prrnuanu if Ihry :ur hrlJ by thi tircrrGln tit
luu,utg anJ l'rhan Ik \ rlupmrnt a, (allow,:
tll I( and ,a long a, ,:uJ Holt u1 r\rn alatr .,nd thi, nt,tnunrm art in,urrJ ur :art rrin,urrJ unJrr the pru\i,iun, u( the h.diun.d
Hawing -~a.:ut amount wthcirnt ha:accurttukdr in the h:utJ, of the hulJrr arse 111 month prior to i1, Jur Jatr Ihr .ulna:d m~rl-
gagr imurancr premium. in urJrr la pnt\iJr wch hulJrr with furtJ, pI pay ,uch prrmium to the Srcrrt:uy u( Hawing .utJ
l'rhan Ik\rlupmrnt pursuant to tttr \atiun;d Haal,ing .act.:I. amrnJrJ. anJ applic:lhlr Rrgul;diun, thrrrunJrr. ur
1111 I( ,InJ ,tI long a, ,;uJ Hatt of r\rn Jatr anJ thi. in,tnlmrm art held by the tircretary of Hawking anJ l'rhan Ik\rlupmrm. a 1
monthly charge tin lira u(a mungugr in,uruur premiums which ,hall hr in :m amount ryual to ant-twelfth 1 U 1 `t of uni•h:Jf
1I"1 per crntym u( the a\rrlgr uul,tanding h.ILmcr Jur tin the Harr computed without ruling into account Jrfinyuro\ir, ur
prrpaya}nt,:
Ihr ~ ,um rya;J to the gnlunJ renh. i( :Int. nrV Jur. plu, Ihr prrmium. that will nr~l become Jur anal payahlr tin p,Ihcir, u( lire :InJ
other h:varJ imurancr co\rring the ma~ngegrdptuprrty. plu, tear, anJ aa,r..mrnt. nr~t Jur tin the nuatgaciJ pntprrty 1:JI :I, r,ti-
matrJ by the mungagrrl k\. all ,um. alrraJy pail thrrr(ur JiviJrJ by the number u( month. nt rlap.r before arse month prior at the
Jatr whin wch gnnntJ rent., premium., tar.. anJ a.\r.\mrnt\ will become Jrlinyurnt. wch \um. to hr hrkl by mortgagee in tnt\t
to pay ,aiJ gn/unJ rent.. premium,. tar.. ;utJ ,peel:J a..r„mrnt\::InJ
li 1 All p;ly mint. mrnliunrJ in the two preceding wh.ectiun, of thi\ paragraph :mJ all pay mint. h, F+r maJr unJir the Harr ,ecured beer- I
by ,h:Jl hr aJJeJ together anJ the aggreg:dr amuunl the rent .hall hr pail by the murtgagalr rack month in a ,inglr pay mint tat hr ap-
plied by the mortgagee to the (allow ing item. in the order .rt (unh:
111 premium char~e\ urtJrr the contract a( imurancr with the Secretary u( Huu,ing anJ l'rh:m Ik\rlupmrnt. ur monthly chaage
tin lira u( mortgage imur:mcr prrmiuml. a. the ca\r may hr:
1111 gruunJ rent. 1a~r\. a\\e.,mrnh. Iire.:mJ other h.varJ imur:mce prrmium,:
1111 interr,t tin the note ,rcurcJ herkhy: anJ
11\'t amurtiiatiun u(the principal u( \:IiJ ~a~~e-
:~ny Jrficirncy in the :unuunt o(,uch aggrrg:dr monthly pay inrnt ,hall. ante.. maJr gawal by the murtl:agor prior pt the Jr • Jate u( the nr~t
,Itch pay mint. can,tiaur an r\rnt u( Jr(ault under thi. mungagr. lhr mung:Igrr may collect :I '-lair ch:uge•' nut to r~crr.rnt, l~i fwQ
i:rch Jull:u IS11 of rash pay mint mart than li(trrn 11 SI Jay\ in arrr:u. to cu\rr Ihr a Vra r~prn,r imuhrJ in hanJling Jrhnyue p:Iy m • u
z. l h:d i(thr haul of the pay mint. male by the mortgagor unJrr 1 hl of paraer.Iph prrcrJing .hall r~crrJ Ihr amount u( the paymem,
.Ia loath made M the mouulgee. fur gratunJ rent.. tour. ,mJ a..r~.mrnt. ;utJ in,urmrr premium.. e. the ca,r may- hr. wch e~ir,\ i( the loan is
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I urrent, at the option of the mortKa~or, .hall, be a•redited tin subsequent payments to be made by the mortgagor, or refunded to the
tnurtgagor. I(. however, rho monthly payments made by the mortgagor under (e) of paragraph 2 preceding shall nut be sufficient to
pay ~:uund rent., taxes and assessments and insurance premiums, as the case may he, whcu the same shall become due and pay-
able. then the mortK:+gor .hall p.+~ to the mortgagee any amount neceaarv ul male up the deficiency, on or before the date when
payment of wr•h ground rents, taxes. assessment., or insurance premium. shall be due. I( at any time the mortgagor shall tender
t,l the mortgagee in accordance with the pnn•isions oLthe note secun•d hereby, full payment u( the entire indebtedness represent-
ed thereby, the mortgagee .hall, in computing the amount of such indebtedness. credit to the account n( the mortKagor all payments
made under the provisions of (e) of paragraph 2 hereof which the mortgagee h,IS not become obligated to pay to the Sa•cretarv of
(lousing and hrban lievelopmem and any balance n•tnaining in the fund. accumulated under the provisions of (a) u( said
paragraph l( there .hall be a default under any of the provision. n( this mortgage, resulting in a public sale of the promises
covered hereby. or i( the mortgagee acquire the property otherwise after de(:lull. the mortgagee shall apply. the the time n( the
Ivlmmrncernem of such proceedinKs or at the time the property is otherwise acquired, the balance then remaining in the funds
accumulated under (b) of paragraph 2 preceding as a credit aKainst the amount of principal then remaining unpaid under said note
and sha!I properly adjust any payments which shall have Leers made under (a) of said paragraph. }
a. 'that hr will pay :all I:IVr,. a„r„mint.. water rae,.:mJ other ~o\rrnmrntal ur municipal ch:Ircr\. tint,. ur impa,itiun,. fur w bleb pr~-
.I,iun ha, Hat ttin maJr hirrinhrfurr. and in drLwlt thereof the moneaeri mey p.n the ,.,ali.:md that hr will promptly Jili\rr Ihi utfi:ial ~
r
Ic.ripl, thirefur t,.Ihi martt:aLia•.
l hat hr w ill pirmit. c.,mmi1. a.r ,ultir nu wear. impairment. ar Jrtrnurdiun of ,.IiJ properly ur :Im pert Ihrrruf: anJ in the r\rm of the
t:lilure,tf thi mart~aLUr aI lrep thi huilJing. tin ,:IiJ preml,r, :uul thus to he ireitrJ tin ,:IiJ prrml,r,. ur impru\~mrnt, Ihrreun. m gaunt re- t
p,lir. Ihr mungarie may malt wch rip:ur, a, in it,Ji.cretiun it may Jrrm nrcr,~ary fur the proper pre,rn:Iliun thereof. anJ the toll :Imuunt of
ca: h :mJ r\ in ,uch payntrm ,h:dl hr immrJiately due :Ind payahlr. anJ ,h.Jl hr .reared M thi liin a(thi, mungaLi j
f. 'I h:n hr will pay :JI :uxl ,inguLlr Ihr cu,t.. charge,. anJ rvprn,r,. incluJing rra,unahir law yrr•\ (rr,.:mJ cu,t, u( ah,tr-.ICh of title. in-
:urrrd ar pail at am umr by the mortgagee hrcm,r of the failure tin thr pan u( the mortgagor pnanpth anJ fully h, perform the .:Lrrrmint,
~ .InJ cu\ in;lnt, of ,aid pnami„un Harr :utJ thi. murlgaLr.:mJ ,aiJ cu,n. chargi,- enJ evprn,r, ,hall hr immediately Jur anJ pay ahli anJ ,h:dl
ha• ,reared by Iha• lira of Ihi, matlgaCe.
lh.lt hi w ill lrrp the impnl\imrnt\ Haw evi,ting or hirr:dtrr erected on the mortgagoJ pruprny . imurrJ a, may hi rrywreJ (rum hmt
lu umr hy~thi mortg.lger atain,t lu„ h} fire anJ orbit haiarJ,. c,I,u:due,..InJ cuntint:rncir, in ,uch amount, anJ fur ,uch pin,ni, may hr
rryuireJ by murltagrr. anJ w ill p:n promptly .whin .lui. any prrmium, tin ,uch imurancr fur pay mrnt u( which prn\ nian he, n.a been malt
hrrrinhrfurr.:\II mwrancr,hall hr c:IrrirJ in cumpanie~:Ippru\rJ M mortgagee anJ the patGcie, :mJ renrwah thereof ,hall hr hell M mango
@ ~~ii :InJ h:ni .rtta.hrJ thrrehtlu„ payahlr clau,r, in (a\ur of anJ in (unn accept:d.lr to Ihr mortgagee. In rent u( lu,\ hr w III LI\r imrniJiatr
Warier M mail to murtt:agri. anJ mortgagee may malt proof a( la„ i( nut male pntmptly by mortgagor- :mJ each imurancr cumpam run-
:rrnrJ i, hircM :unhuniiJ :mJ JirrctrJ ta. malt pay mrnt fur ,uch lu„ Directly to mortgagee imtraJ of to murlgagatt anJ murtgegre jointly .
1 enJ Ihr imurancr pr:.crrJ,. ur :my pan thrrrof. may h< applied by mungagri at h, upUUn tither tat the rrducuun u( the inJrhtednr„ hereby
n
•rcureJ nr to the re,turauun ,tr rep:ur of the pruprny Jama~rJ. (n i\ent of (ureclu,ure of thi, mortgage ur other tram(rr of title ta. the mart- ?
~aciJ property in rvtin~ui,hmrm u(the inJihtiJnr,. ,rcurrJ hereby .:JI right. title. anJ mtrre,t of the murtgaiur in anJ ht any imurancr pale-
1 cie, thin in force ,hall pa„ to ttte purcha,rr ur gr:uurr 'r
t; I hat If thi prenu,i,. ur any part thirruf- hi cunJimneJ under .Im power u(iminint Jam:un. ur acyuueJ far :I puhlrc u,e. the Janagr,. -
pru:erJ,..mJ Ihi cun,iJrrdlun fur ,uch acyui,iuun. to the evtrnt u( the full amount tit inJrhtrJnr„ upam thi, ylurtt:acr. anJ thi \ati ,rcurrJ
~ hirih\ rentainmg unpaiJ. ari hrrrhy a„igniJ by the ~turtgagor to Ihr ~lurtgagre :mJ ,hall hr pail furthwnh to thi ~lortgagrr to hr .IpplieJ M -
u tin .rcanlnt ui the inJrhlrnr,~ vriurcJ hrrrhy. whether Jur ur nut.
v "(hat the mortgagor may , at :Im umr prnJing :I ,uit upon thi, murteagr. apple as the court ha\ ing juri,Jichun thereof far the appoint-
- mrnt of :1 recrnrr.:mJ ,uch court ,hall forthwith appuim a rrcri\rr u( the prrmi,r, cucrreJ hrrrhy all anJ ,inguL•Ir. incluJing all :mJ ,inguLlr
lhr ntcumi. pndit,. i„ur,- :Ind rr\inui, (mm whatr\rr ,uurcr Jrri\rJ. loch anJ r\rry at( which. it being rvpre„ly unJentawJ i, hrrrhy
martgagral a, if ,prcificalh ,et forth :utJ Jr,cnheJ in thi grlnung .utJ hahrnJum ilame\ hrrrul. anJ .uch rrcrl\rr ,hall ha\r all the hn,aJ anJ
itlrcu\r funcuan, anJ power, in amwi,r rntni,tiJ by a court iu:I rrcrivrr. anJ ,uch appointment ,hall he made M ,uch court .I, an aJmittrJ
iyuily :uul :e matter It( ah,ulutr right at ,aiJ mortgagee. anJ without re(errncr iu the :IJryuacy or inadryuacy u( the .:due u( the pntpirty mon-
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c.lcrd ar n. thi ,ohinc\ ,ar m,uhin.y ,.f ,.nd ntungagur .Ir Ihi Ji(a•nd,uu•...uul that ,uch rim,. prattil,. inaumi. i„ui,- .InJ rr\inur, ,h:dl hr
.Ipp1:cJ M ,uch rrcri\ir acatrJing to thi lien u( thi, mungagi anJ the practice of ,uch court. In the r\rn1 of am JrC:n10 tin Ihr pan It( Shi mun-
gager hrreunJir. Ihr mortgagor acme, at pay to Ihr murtgegee tin JrmanJ a\ a re:nunahle munthh rental far the prcmi,r, an .Imuunt .It Ire,t
3
ryui\:drnt to arse-twitfth 11; 1 `1 of the .Iggrrgalr of the twrhr munthh in,l:dlmrnP payahlr in the thin current yiar plu, the actu:d amount u(
thi ennual tour,. a„r„mrnt,. water rlti,. anJ imurancr prrmium, fur ,uch yr:u nut catvrreJ by the a(urr,,ud monthly p:Iy nlrni,
i
Ill I hat I;n rn the r\int of am breach of thi, mortgage ur Je(ault tin the part of the murtgaeur. ur 1 hl in the r\rnt th.d am ,.f ,,Hal ,um, of s
nu,niy hrrem referred la hr nut prumpth :InJ fully pail without JrmanJ or Holier. a.r let in the e\rnt that each anJ tiers the ,upuleuum.
.ILrriminh. canJinom. anJ c,t\enent, u( ,:IiJ nuts anJ thi. rnurtgage. err nut July .promptly. anJ (uih prrfltrmrd: thin in tither ur am ,uch
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i\rnt. the ,.dJ .I~greg.lti ,um mrntiuned in .aiJ nuts thin remaining unpaiJ. with intrre\t accnleJ to th:d nmr. and all monr\ „rcurrJ hrrrM -
,hall hrconti dui :uul payahlr (onhwith. ur thrrra(trr..d the option of ,aiJ mortgagee. a, (ally enJ completrl? a, i(:JI a( Ihr ,.IiJ ,um, of m~n-
iy weer ongin.llh ,tipulatral h. t,e p:uJ tin wch Jev .any thing in ,aid Harr or in thi, mortgage to Ihr contran nutty hh,t.InJutg. anJ thereupon ur
lhircaflrr~ at the ,•puon of ,:nd naatgagir. w ithuut noucr or Jimanal. ,uit at law ur in equity. m:Iy hr pru,rcuteJ :I, i(all money, ,rcurrJ hire- f
h} h.al mauuid pnor to ih in,unltrun 1 hi mongagei may (oreclu,r thl, mortgage. a, to the amount ,u JrclarrJ Jur enJ pay ahle..uu) the ,aid
i
prrnn,i, ,hall he ,oIJ p.•ati,f\ enJ pa\ the ~.Imi h,L't'thar w Ith 111,t,. r\pl•n,a•,.:IItJ .IIIltwana:e, In ca.r u( paru:d furrclo,urr of Ihr, mongegi.
lhr martgaeed prenn,r, ,hall hr ,old ,uhjicl to thi conhnuutg hen of thi, mortgage fur the amount of the Jiht nut then Jui anJ unpaiJ In ,uch a
t ca,r the. pro. r,lon,,I( chi, p.•r,,graph mey ag:nn hi a\ ailrJ ,.f thereafter (rum umr tat time by the mungagrr.