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HomeMy WebLinkAbout2992 -YS- r -:tom.., r. .-ati~ }.e.:. - - ~ e ~ ~ S • ~ ~1 b r'i " 2. 71tat, is artist ntors tally to protect tht aecarity d this watgsge, tM mottga~or, together with. and jn •ddiu ionthy ai~ unity tM tsrws d the note secttred herby. oa tM Ant day d sack month tmeil tot said uote~s faNy paN. wiM M~~ the mortgsgee tM folbw• ~ w~~ (ra An amwat wfAcieat b provide tM holder hexed with funds to pay the next mortgap inwnaa premium it tbh instrument and the sots securer hereby aro iasttrsd. a a monthly cAarpe (irt liw d a atortga~e irtsunrtes premium) it they are held by the Secretary d lbwittp wad Urban Oewkpnteat as foNowa: . (p tt aM a ~ sa said acts d evert raN and tMs itatrawent an ittsund or ate reirtsersd wrier flee provisions d the NMionrJ floasiag Ad. an amount wf>ident ev aa~ttaulats is tM Muds d the holder one (q woatlt prior to its due data the annul wort- f1~ inaunaoa is order to proviM sash holder with roars b pay suck prsmatm to,tha Secawy d Housing and Urban DsvslopstsM ptrsuant to the National Hooting Ad. u omsadod. and applicabM Rewlationf thpwndsr: a. (m It and so long a said note d svsn date and this inatruwsnt.re hid by the Secretary d Hoasiag and urban Development. a woatNy tdtarge (at fiett d • ntortgsgs inwranoe prewiuw) which sbaM be in an amount equal to otK-twsHt>t 11112) done-haN 11/21 per amtum of tot avera0e ouataa~ng bdatcs dos oa Mrs Hots computed wWtout hkit' ittito aceouat dslaquencks or f~OnY~: lb) A suss earful a the growl rents. it.ny. asxt dae• pets the premitms that wiA next become dos ear payable on poNcks d Are and other lta:ard in:,trartoe coverieg the atortgagd property. plus taxes apd assasmeats next due on the atwtjaAod property lull u esti- mated by ~ wortgagee) less d sums akeady paid thsrsfot divided br the mtmber d wombs to elapse heron one month prior to the dos when suit Around nab. premiums. taxes, and useasesents wiM become delirtgtteat. such sums to be beta by mortgagee in trust to pay said gsattd rent, prartktms. eaxss. and specW astwmer?ts:and (e) AM pymatts matdoaa0 is the two peoeriag wrbeectbas d this panAraph and ap payments to be roads under the cote secured here- by shah bs added togther and the aggregate amount thereof shall be paid by the mortgagor. each month in a sirtgte payment to be sp- plied by tits mortgMee tothe torawarg ilpas is We ordsrset forth.-- (n premium charges under the contract d inwraaoe with the Secretary d Housing anti Urban Development. or monthly cltarpe (its liar d watgag inwtrwtoe promium). ss the case maybe: (lA ground rafts. taxes. usasmatt:. An. and other haanrd irauranoe premiums: (Ill interest on the note eectsed hereby: and (IM amoctisatiort d the priacipN d said note. Any deflcieacy in the amowtt d snit nq~tepte monthly payment shall. uuless wads pod by the mortgagor prior to the due date d the next wit payment. ooo:<iatte an evsttt d default under ettis ntortgage.'tlte mortpSee way ooNect a'•hte clarp•'aot q ezoaed bar Dears fur each dollar (iq d sack payment won rota Attesn (I~ days is arrears to Dover eke extra sxpease iavohrod in haadNag deattgttatt paY~•, 3. 71st it tot totol d tits payments roads by the moryspr trader (y d perapaph 2 prevedirtg shall sxoeed tbs smotttu d the payments actuapy made by toes wortgsgee. for grwnd tarts. tun and assessments and instuasoe premituns. u the case may be. such sxotu if the loo is carrsat, at the opUea of the wsNgiagor. ahaU. ha credited a absegaeat pspmeaea to bs while br the woctgaAoe. a ntanded to ue .raortsagot. If. however. tits waatilr parwents wade br the wartgager aadee of pwgyaph = precedk~ shall not bs pttloieat to ~papatoaad teats. fazes wad seeeeesaeats and iasaraace premlasaa. as the case map be, when the sews shall become tits qad par- able. then the woetsapr shall pay to tie moetsegse aq awoa:t• aeoesiltrp eo make ap ohs defioiasusr, oa a before the date whoa parmeat of each gyoand rears. fazes. assessweats. or Inearuce prewiasas shall be due. If at any flute the mortgagor mall leader to the wortgagee is accordsace with the provisioss of the note secured hereby, tall papmeat of the satire indebtedness ropreseat- ed eherebr, the mortgagee shall. is compatiag tie awouat of each indebtedaese. credit to the accoaat of the wartsaSor all payaeats made odor the provisions of f'y of paragraph Z hereof which the wostgegee has not become obligated to par to tie Secrotarr of Hoeing wad Urbw Development wad ur balance rewafaiag is ohs toads accawalaeed wader the provieiaas of ts) of said pangnpi 2. It there shall be a default trader ur ofk thi prrlirlelatle of t~ twelp~liwg V a peblia sale of she pcewisee covered hereby. or it the mortgagee aogaires the property otherwise attar de4alt wurtgagee shall apply. the the time of the commeacemeat of each prooeedLg or at tie time the property i. othetwtss''atsq~ tae batancx rhea cesaisiag is Zlte iwds accwalated wader fa) of paragraph Z preceding ss a rdedit agsiast the assooat of prtdeipd;thst} remaiaiaa unpaid wader said note wad shall properly adjust aaT parweata which shall have beau made wader !y of said. pan~apl~. - 4. 'flat he wiq pay all taxes. asseuments, water rates..attd other pvernmeaW or muniapal charges. fines. or impositions. for which pro- vision hu not been made hereirtbetorc, and in detauk thereof the mortgagee may pay the same:and that he wifl promptly deliver the ofAcial receipts therefor to the mottpga. S. That he will permit, commit, a wBer no waste. impairment, or deterioration of said property a any part thereof: and in the evaat of the taikrre d the mortgagor to keep the buildings on said preatses and those to be erected on said premises. a improvements thereon. in good rc- pair. the mortgagee may make such regain u in its discretion it may deem necessary for the proper preservation thereof. and the tuQ amount d each and every strclt payment shall be immediately due end payable. and shall bq:ecurcd by the lieu d this mortgage. 6. 71st he wiA pay all wad singular the coats. dtargs, and expenses, indtdirtg reasonable lawyer's tees, end costs d abstracts d tole. in- crtrrsd or paid at goy time by the mortpigee because of the failure on the part d the mortgagor prorgptly and fully to perform the agreements and covenants d said promissory note and this mortgage. and said costs. charges. end expenses shall be immediately due and payable wad shall be secured by the liar d this mortpge. 7. 71tat he wiN keep the improvements now existing a hereafter erected on the mortpged property inwred u may be required from time ~ to time by the mortgagee against loss by life and other hazards. cuutdties. and cattingencies in atrch amounts and for such periods u may be r required by nwrtgaga.-and will pay promptly. whet due. any premiums oa such irtwranoe for payment d which provision has not ban made hereiabeforc. Ag inwnnce shall be carried in companies approved by mortgagee and the policies and renewals thered shall be held by mortp• ' gee and have attached thereto bss payable clauses in favor d and is form acceptsbk to the mortprgee. In event d loo he will give immediate notice by mail to atortga~oe. and mortgagee may make proof d loss if not made promptly by wortpigor• and esch inwnnoe company con- cernsd is hereby authorized and directed to wake payment for such loss directly to mortgagee instead d to mortgagor and mortgage joinNy, and the instrrarKx proceeds. a say part thered, may he applied by mortgagee at its optan tither to the reduction d the indebtedness hereby securod or to the restoration a repair d the property damaged. In event d foreck?sure d this mortgage a other trsnsfer d title to the wort- gaged property le extinguisttmeat d the indebtedness secured hereby. a!I right. title. and interest d the mortgagor in and to any iasttnnee paN- ciathen in force shall pan to the purchaser or snare. ti. 71tu if the premises, or any part thereof, be condemned under any power of eminent domain. or scquired for a public use. the damaas. proceeds, and the consideration for wch acquisition. to the extent d the tug amount d indebtedness upon the Mortgag. and the Note secured hereby remaiuiag unpaid. ere hereby assigned by the Mortgagor to the Mortgage and shah be geld forthwith to the Mortgage to be spplied by it on account d the irtdebtsaess second hereby. whether due or not. 9. 71st the morigaga may. at any time pending a wit upon this mortgage. apply to the court having jurisdictan thereof for the appoint- ment d areceiver. and such court shall forthwith appoint a receiver d the premises wvered hereby ell and sirtgul~r, including all and singular the income. proAts, isiues, and rcveattes from whatever source derived. each and every d which. it being expressly understood. is hereby mortprged u if specifkally set [orth and described in the granting and babatdum clwses hexed. and wch tcctiver shall have all the brad and eReceive tuactiona and power in anywise entrusted by a court to a receives. and such appointment shall be made by wch court as an admitted a equity wad a matter d absolute ryht to said mortgagee. and without reference to the adequacy a inadequacy d the vahre d the property mort- gagod or to the wlvency or insolvency d said mortgagor or the defendants, and that such rents, profits. income. iswes. and revenues shall be appfiod by such tecaver according to the Non d this mortggge and the practice d such court. In the event d any defwk on the part d the wort- gsgor hereunder. the mortgagor agrees to pay to the mortgage oa demand u a reasonable monthly rcnW for the premises an amount w kart equivalent toone-twelfth (1112) d the aggregate d the twelve monthly instalments payable in the then anrent yesr plus the sctual amount d ~ the anrwal toes. assessments. water rates. and irtsttranoe prcmNtaas for such year not covered by the aforesaid monthly payments. , 10. 71tat (a) in the event d any breach d this mortpg or defauk on the part d the mortprgor, or (Id in the event that any d said wms d 4 money herein referred to be not promptly and fogy paid without demand or notice. a (c1 in the event that each and every the stipulations. agreements. conditions, and covenants d said note and this mortgage. are not duly. promptly, and fogy performed: then in either a any such event, the said aggregate wm mentiated in said note then remaining unpaid. wick irttuest accrued to that time. and all moneys secured hereby. shall booms due and payable forthwith, or thereaha. at the option d said mortgt~ee. u fogy end canpktsly u it a!1 of the said wms of mon- ey were originally stipulated to be paid on wch day. anything in'said note or in this mortgage to the contruy notwithstanding: and thereupon or thereafter. at the option d said mortgage. without notice a demand. suit at law a in equity. may be prosecuted as it all moneys secured here- by hsd matured prior to its institution. lire mortgagee may toreck?se this mottgag. u to the amount sa declarod due and payable. and the said premises shall bt sob to satisfy and pay the same together with cost:.expense:. and albwanas. In twee d partial foreclowre d this mortgage. the mortgagd premises shall be sob wbject to the continuir~ Non d this mortgag for the amount d the debt not then dire and unpaid. In web cue the provisions d this puagraph may spin be availed d thaeatter from time to time by the mortgage. ~ t`3 E - eoo~ic`~i~ na~~s - ~ .