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HomeMy WebLinkAbout23482. That, in order morc tully to protrct the secunty uf th~s mortgrge, lhr murtgegur, tugethrt with, and in add~hun to, the monthly ~~ayn~ents undrr the terms of the nute securcd hereby, on the first day of each munth unt~l thr ~id notc is fully paid, wiU pay to thr murt- ~;agre the foUowing swns: (a) An amount suf[icient to providc the hoWer herrof with (unds to pay tlir ncxt mortgrge insur3nre prrmium if this instrument and thr note secured heteby are insured, or a monthly charge Iin liru oi a mortgagr m,uran~e premiwnl if they are hrW by thr Secrr- tary of Housing and Urban 1)evelopment as follows: tl) If and so long as said note of even date and this ~nstrument are insurrd ~~r ~re trinsurrd unJer the prutiisiuns uf thrtiational tlousing Act, an amount sufficient to accumulate in the hands of thr hulder onr ( I 1 month priur to its dur date Ihr annual mortgage insurance premium, in order to proviJe such huider with lunJs 1~~ pay surh prrmium tu Ihe Secretary of Iluusing and lJrban [)rvrlupment punuant to the tiatinnal Housing .1rt, a~ amrn~kd, an~! applicahle Rreul~tiuns thereundet: ur (1!) (f and so lung as said notr o( evrn datc anJ this ~n.trum~nt ~re hclJ hy thr Scc« tary of Housing anJ llrban 1)cvclup:nrnt, a munthly charge lin lieu ot a murtg~ge inwranre pre~niunil K~hich sF-all br in an ~n:uunt eyual to one-twrlfth l l!!') ~~f one-hal( (1 /2) per centum of [he avrragr outstanding hslanr~ due un ti~r nutr run~~utrd withuut t:~king ~ntu ar~uunt ~r- lir.quen~ies or prepayments: lb) A SUIII Cl(U3I IA the gri~und rents, tf any, ne~t due, plu, thr prrmiuius that w~ll nrvl b~iuinr Jue ~~J pa>•~ble ~~n poliri~s ~~l fire anJ oth2r ha~3rd insuranre cuvering thr murtgagrJ pro~~rrty, plus taxrs anJ as~rstimrnl~ nrxt due on the murtg~gr~ pre~prrt}~ Iall as rstim~lcd by tnr mortgagcr) Irss all SUIIIS Jlfl':lt~Y ~~:llli Illl'ft'lUf ~li~•i~lyd hy thr numbrr ~f n-onths to elap+e hcturr unr tnunth pnor to thc d~tc whrn surh gruund rrnts, prc~niums, la~rs, ~n~ ~.se.yrucntti w-11 hrruuir drlinyurnt, ,urh sums tc~ hc tirld h} mortgagrr in trust to pap srid gruund rrnts, premiums, ~:lXtS, Jlll~ sprcial atix•~~n-rntti, antl (cl rVl p~ymcnts m~nUonrd in thr twu pr~rrd~ng ~ub.rrtiuns of this paregra{~h en~f a!1 pay nirnts tu hr ru~~r unJrr the notr xrun.l hrreby ~hsll hi ~JJcJ tugrtheY anJ the ay,~;rrgat~ ~~nuunt tltrrcut shall hr pe~d i,y the morl~t~+gur ~ach me>nth in a s~ngle {~a~ mrnt t~ br :~pplicd hy thr mortg~grr t~~ thc f~lluw~ing ~tru-s ~n thr urdrr ~rt forth (11 prrm~um rhargrs undrr thr ~untra:t c~f ~nsuranrr w~~th thr Sr.rrtar} ~~t Il~nising end t'rh~n I)r~rlupnirnl. ~~t tnc,nthl~ rhargr (in I~ru oi inortgaEr in.uren~c prrn:~uml, a~ thr r~ir ma~ hr (111 gn~und rrnls, ta~es, astirc~ne~•nts, f~rr, anil uthrr ha~ard in,urancr prr~n:uin. 11111 inlrrrst un thc nutr ~rru:rd hrrchy,;,n~l I IV ) ain~;rti~;~tiun uf thr pnnripa! of said nut~•. rlny ~Irfiricncy in the amuunt ~~f such a~;n•gatr nu~n!hly }~ay:nrnt ,h~ll. unlr.~ n~a~!; guu~t h} Ihr tn<~rtgagur pnur tu thr de~r ,i~tr uf thr nrxt suih pa)'mrni. cumhtut~ an rvrnt +~i ~lcfault und!•r th~. m~~rtg.~gr. I~~r ~z~urtE.~~;rr nw)• cullr.t e"latr ~ha-~~•., n~~t t~, ~~~rr~f tuur _ rnis la<i fur rarh d~~llar 1 S! 1 ot rach pa~•mrnt iu~~rr tlian fiftrrn ( ~ i ~ clay. !a arrr~r, t~, ruvrr thr ~•~tra r~~rn,c ~m<~hc~t in h;,nJl~nk dr- inyurnt pa~'mrnts. , , ~.... :. ... _ . ..,~ _. ..... __...--=--•- --• -.,_ .~,. ..,,. -- - - ...~:•-,~,, .~ . ..~, , .. ..~_.,...-..,~i . ..~ .~.,. .f .-,;. . •,.~- ;:cllll ;liiUJII) Itld~l' hy thi nux:g~gee. tot ~~:~un~i rrnt~. ta~r~ end .s+~r.~~nrnt, :inJ ~nwran.r pn•r~isimn. a. thr ra.r naey hr. ~u. h c~.~ss ~t ! hr luan ~s currrnt, at thr uptum c~t [he ~n;>rtgagur. tih~ll. hr rrr~l~tr~l un s:~i,scyurnt {,:~}inrr,h t~~ hr n~a~lr h~ thc u:~~rt~;~~~~r. ~~r rrtunJrd tu rhr tuurtgegur. 11, hiiwr~~rr, ihe n~unttil~~ p~}mrnt, ~c,.~~l: h~ !hr niur!ga~ur :in~irr Ih- ~~f F~:i~.~~rapt~ _' {~rr~.:Lng,hall n~~t hr •utfirirnt to ;~.e} grc~und rrnts. taxr, :~ii~ a~sc~s~ncnh an~i ~muran.r {~rriuiun~~. ~~ tti: .a~r n~ey t,r. whrn ~hr ~a~ur ,li.~ll hr~un~r ~1uc an~t E~e}•ahl~, tiirvi ~h~ =nurtgag~~r .half pay to thr uiortg.-gr~~ ~ny ain„unt nr.c„~n tu ~u:,kr up thr drt~r~rn.y. un ur hrturr thr ~iatr whrn pa}r.~rnt ~,t ;u~h _ r~~und rcntti, t~zc,, ~~sr„rnrnh. ur intiursni~• prrm~ufi:~ ,i:a;i f,•• ~lur. It ~t :ui)~ t~mt thr tnc~rtgag~,r ~li~l! Irn~ICf IU (Ill' illUfll.JZ;CI' Ip .Ii~:~r~l- ~ti:~ HI[h Ih~ pfuc~~i~~ns ul thi• nu[r ~eiutrcl hrrrh~. 'u!I ~~:~}~nrnl ~~f tl:r rnttrr tnilrhtrJn_'ti~ rr{~rc~rtttr:l lhrrrt~y, Iltc ir.~~rlget~•t• ~h:~il. In ~~r~put~ng ti-c Jlllutllll uf ~uih mJchtrd~rss. ~rrclit t~, tiir .~~r;,~,nt t)~ Iflt' itlt)flk3-;UI ,III (~;1~'171Cf1(` ItIJtIt' Uudrr thc pr~~~~,iun, ~~1 ~a) ~~f ;~~r.~- ~^,iph '_ i~rcri~l whi:h ihe murt~agrr ha~ n~~t hrcnmr uhli.~tr~! t~~ ,,~~ !u th~ Srcrttary uf H~~u.~ng an~l l th~n Urcrlujnncnt an.! .~nt hal:~n:r ;nasnin~; in th~• lu:i.{> a,.u~nuiatr~ uri~lr[ thr pi~~~i,i~~~~. ~~! ~h1 ~~f .ai:l ~~.liJ~;(.~~`~l _'. It thrrr .ha11 h~~ :; ,trf:~:~tt un~t~r anp :~!i~~ ~r,~,~;~;;,n, '(f115 S11l~fIKd~~', fc'~UIII(l~, 111 3 F1UF~III ~JII' U~ (}Il' ~1fClllltic~ i~~~l'i-c'~I Ili'fi~~~~, uf 1~ 1llt' ^IUfIR~~;CC dl~~Ulll'~ I~IC (~I:~~~l'fl}" !1(Iil'fKl~i dtl~'f ~It'' ',«It. the :n~~rtgegrr ~t~ali ep~15_ .:1 ,},~ ;unr ~,t t~~r ~t,nit~~rn~rinr~it ,~t uirh pr~xrr~i~n~c~ ~~r .il th~• tin~; thc 4~ru,>rrty ~. uthrr~i~c ~:- :~nred. ih~ h:il3n~r then rrnia~t>>n~ in thr funii, ~~~ui:~ulet~:l i:n~trr 11~) ~~t paragr~pt~ ` prr~.~f~ne a~ ~ rsr,iit .~~ain,t t!ic anu~unt ~,t prin~i, ~I '` rn rr~n~muig unp~id undrr i:ti,f ni,te en.l :`~~tl E~suprrlv e~71:i~t .~n) {aa~inrnt~ u•iuih 1}7:lII tlJ~t hrrn ~:i~dr un~lrr I:~i ut ,.,l~1 j~ate~te~h. d. 7hat hr w~tl pa~• all taxr~. :i„rti~~nrnt,. w•~trr -.~tr,, av:~l nth~~r h~~~~ffl:3lt'1llJl ~li i1111i11i1j~dl ,i~er~r,. l~nc,. ur nup~rti3ti~~m,lc,r ~+hi~h ;~rur~siun has not bern ma.le hrr~inhrturr. an~l ~n ~l~:~ult thrt.~~t lhr ~nur[gegrr nia) ~~~} !'~c ,::n~~. ,ir,~f that iir .~ill ~n,tnptl} ~t~ii~rr thr tft~ial rrrr~~ts Ihrrrf.~r to ttir n:~~rtr:e~r~ 5 ~fiJl }1l' Kl~~ (1Cf(ll1I. i:r111lllll. .~t •U2~t'T Il~) W;f\(c'. 1:11(~3IIIOl11[. Uf t~l'Ic'fIr)f:f(IU^ l~~ ~Jltl [~tilj~i'fI) U: 30~ j1~11 l~it'fCi11. ~(1~~ tll (~2C ~ent of thr tatlurr uf thc m~utga~;~ir tu krr~, t!~r hu~l.f;nr, ,~r ,a~d ~~rr~n„rti an ~ thutir [n hr rnctt•d ~,n ~~vl prr~tusr~. ~~r i~~~pr~~scinrnt~ thrreon. ~n guc~~1 rrpair, ihr rti~>rtg~~;rr it~a~ !r~l.<• ..i~h Ii'~~Jlf\ J\ li! it, ~fi~rrrtu,n it m~~ ~lrrr~i n:~r"sr~ tur tt~r ~~n>~ rr {~rrscrtiatl~,a~ ihr-~~- .'. an.i [he ful! an!~;unt ut each an:1 c~~rn ~u~h j•e~~urnt .t~.~il he ~i,ir,~r~lwtri~ ,luc an~1 ~~~~ah(r. .ir:~l .ttel! hr ~r:urr~i h} thr l~rn ~it ttu, .,; ~rtgegrr. h. Ihaf hr will p~}• ell and vnRUlar !hr ~~~~t,. ~h,~rc_,. ~n;i ~~,t•n,r,. in,i,:.iing r:~,,~~~r~.~hl: l:~~c~.r~, tr:,. ..~n<j ~n,h ut ahtitr.~~t~ ~;t ' tlr, tniurrrd nr p~id at any tsrnr f,~ (hr n~urtY,~gcr h~.;,,:•, ~;t tlic !.s~l::rr ~~r thr ;•,irt ~,t thr ni~~rt~:~ti~~; :~~,cn~tlti enu tul;~ t_~ nrrt~~rni thc. ,.~ree~~~rnts an~i ilri'c'713f1I~ Ut ~~li~ Elii)Ilil~1~)(} i1~iTi dfl~~ 'ili~ ~:I~~f?_.li'i .it7~~ ~e~:j ~~~~h. ~.fl,1f~'~'~, a!!~~ ~'C~`ill~i'~ ~~:d{: fK' IIIit1Ii'::lJlc'~\ i~UC diti~ ;:,yehlr snd tihaL he,c~urrd hy~ t'~r!icn uf thi, murt~a~r '_ That he w-il keep th~ in~pru~~zmrnt~ nuw c~~ntir~~ ~.; !,.r~attrr rrr~t~J nri Iti~_ ~.^.~~rtk,+~r~f ~~r~~E~rrt} :n,un•d :f~ Sf1dC hl' (l'+{lllT:~~ ~fUlll ~~ie to timr h}' thr AIUfI~~~'l't' 3r:flfltil IUSti ~) t17C dtl~l ~~th•_t heie~d~._ ~e~uai~+~r+. sn,1 ~un[ingrr..ir. ;n ~,i.h arnuu:~t, ar.~l f~;r ~u:t~ G~rnu.lti :-ti ~.~y ht~ rryuired hy murtg:~grr. and will pa} prc~in~~ti}. •.~f~~•n ,t~~_. ~ny ~~r~•~•:iiun, ~,n ,u;h ~mur:~n~r t~~r E~ayrnr~,t ,~f •.~h:~h nruv~ti~on he, n~~t `~rn ma~lc hrrr~nlxf~~re. All ~nwr:~n~r s}t~ll hr r~rtr_•~1 :n ..~~t:~~enic, ~p~rut:.1 h: inart~;,iirr a;td ttir p~~t~.~c, ar~1 r~ncu,~15 thrrc<~t ,h.~ll hr '.:_f~1 by motlg~grr and he~•r atia~hed thrret~~ Ic~c~ p.~)~hlr ~I.~u~rti ir: ,a",r ~~1 en~t ;a fntr.ti ..:_~•.•,,•~t~{r t~~ th~ ~nurt~eerr In c~rnl uI 1:,~, hr .~I~i KIYC imm~~i~etr n~~ticr hy~ fll.fl~ (u lil(1(~1?d~!CC. Jllt~ ill~,i.~'J~!tC :I1JY fI1J~.C (ifu~~< <)~ ju~~ i! ti~~l 'tlJ~f; ~~i~~!!lj1(~~' +1\ Itl~~tl~!:fL~~i. d.'li~ i.tifl lll- ~11f3liCt c„rnpany~ c~m~rrnrd 1~ ~1Cfl'f~)~ 3UIf1U[ilc~~ 3I:i~ ~~l(t'.ic'~~ 1ir I~I~'t:~ ~:f}IIICfIi ~u.' .llifl ~~r» i]!iC~il~ [~~ Itli~(Ik'dl'.:c' lil`li'd~~ :~t i~! IR~~f(1!d' ~:~r atiii fllufig:~Kec• ~u~:til}'. .ini1 thr In~i1f:lnie ~`ft~~rr~S~.-uf aii} ~~~tt thrfc'~~t. t:i,~} h~' .tppi:r~l tiy 11iUTtL'JYCC .II ii; ~~;~tt~~tt ~'tlhrf :~~ !hi' R'clur- ~~fl Uf [~It' IAl~Ch1Cl~Ili'SS f1CfCh~' ~CiIIfC(1 ~~i lO Ifl:' (t'~IO[AIUI^ U[ f~'i`Jlf ~r1 :fll' I~fU(1t'f~\ u.l!::JLC'i~. ~f; i'.c'i?1 U~ 1~~!:'i~~;~:UR' ~ri I}lI1 [Ll'.![!id_L'C '~i~ ~'I~Itf (fJOS~tf ~~~ Il1~l' 1U I~i~' fP.t)f2_L'"s~C~I ~i~):~c'fll~ Ift tYhTll',ili~~]Ii1CIli ~~l '~lc' Illi~~ t~It'tjRc'i~ tiCiU(:!i h~rrh•.~. ~II nLh'. tiil~' ~fi~~ Itl~.Ii'i~ :r? 1~1C .;,,r.gagor in ~m! tu any snwran.r ; uli~ ~rs thrn in fut~r ,h,,l? {~a„ t:, ttir ~~ur: h::,r: nr ~r.+ntrr . ri. i hat u thr pre~n~.,c~.. c~r ar.} F en ti~rrrni. i~r i~~n~irtnr:r:i ~m~i~^ .ir.} ;,~,~~rr ut rin:rirnt :i~~rne~n. ;,r .~.yuirr~i ~„r a I~ui,i~~ u.••. ti~r '.~magr:, pr~~crrtls. ,~n~! thr _~~n.idcrah~m fu; ,urh :~~uiii,u~„n. t~, th~ rrtrnt ~,t tti~ tuL' an:,~;:,it ~,t Sn;lrht:•~fn:•„ u~~,m Ik:i. 11,~;r,.;~.. an~i .~~~• 1~~~tr ,ccurrd herrh} rrn;.!in~ng un~~~i~l. .~~n c~rrt,y :~,~~.nr~1 R~} thr ~t:,.r~~~~,r t<~ th~• \t"rt~.~~<< :in~1 tfii~li ~,c ~,.~i~1 t~~r~h~ti;tti t, tt;~• ~1~~rt- _:Krc tu he appli~d by rt~~r~ e~c~,unt uf ttir :ndc`~tritnr».r.t~rr~1 h~r: h~. wl~.•t'~rt ~lu: nr n~~t. `.~. It;at thr r~urt~ta~rr ma}. ~t ~n~ timr ~rn~t~nk .: ,u~t +~{~~~n thit inuitY.i~!r. ~(~(~I} t~~ t~ic ~~~urt %ieti~ng iun,~tirt~~~n thcrr~,! f~~r thr ~;~p~>~nlinent uf a rrcri~rt. :ind su~h r~iutt tiIl"JI~ tll((IIK'll~: a,=p~~~nt a rr;rner :~t th~~ , rrint,~: ~uti.icd hrrrt;y ~I! an~1 untulet. tn~;u.~niz all ~;~3 singslar the inccfine. ~,rufii~. issurs, and rr~rnucs t~~,rz} ;~l:atr.,et ~c;;:r~r e1_~~ic.~f. ~:i~'; ar,~! ~~•~;: :>: w:~t,h. ii t,r~rsc ~~,;r.~.:; :..:,:r- •~~,ud. is hrrehy mvrtgagrd ac if speeifi~~lly tirt f~~rth ~n.! Jr;~nhrt! in thr ~r.uihng ;ui~l hahrndun~ rl~u~r~ hrrr~,f. ,,n;i ,urh rr; ricrr ~}iell r~.~~'e all the hrua~l ~nd ef:rcUve functiunti ,ind puwrrs ~n anyw~ue rntni~trJ h~ a i~~urt tu :i rerr~~rr. ~n~i ~~~ih :~r~~~~intmrnt SI?JII Ilt' itlJt~c' {,~ ~.u~h rc~urt e~::~n ~dniittrd ryui[} ~n~1 a inattc•r uf af»ulutr ne1~t tr„ai~l ;nun~agrc. ar:c' ti~ith~~ut ri•trrrn.r t~~ thr eJryua~} ~~r ~n:~,iry:~e~~ ,~t the value of thr p~opcrty mortg:~ged ~r t~ thr snl~•rn~} ~a insr~lvrnry ~~i ~ai~! m~~rt~~~ur ~,r tl~r ~lctrr~lant,.:~nd tt~.~t w~h rrnt,. pr<<tit,. :n- ;urne, issur~, ,~nd revrnues shall hr ~p, I~eil hy such rccrivcr ai~ord~~e t~~ ;~~r L-rn ~~t th~ti murtY.+gr :~r.~l ihr pr;,rt~rr ut tiu~h r:~urt. in thc ;~ent of anp default on the part ot the mc~rtgagc~r hereunder. ihr rn~~rt~a~~,r .~Er~r~ tc> ~ay i~~ th~• ;nurtg~grr ~~n ~ir~nan,+, es e rr.,~~,neblr •nnnthly rental for the prrm~srs an amuunt at lrast equ~calrnt t~~ ~~nr-tvice~~th ~ I !'r ~~f Ihe etiKrr~atr c~t th~ tH~•i:r in~~ntf~ly inst.illrnrnt~ ; ayahle in the then current yrat plus thr artu3l amuunl of thr annu~! taxrti, es~r.tirnents, ti•atrr r:~t~~.. and ~nwra~iir ~rrnuuniti t~.r ,~irti ~ear ne~t covered bp the al~~trs:~id ~nvnthiy payment,. 10. ~Ihat la) ~n the e~~rnt ot ~n}• hreach of thic m~~rtgagr ~~r ~lrtault un th~ p~r1 ~~t tii~• rn~~rt~e~~~r, or (h- ~n ttir r~rnt !hat :,ny uf w~~l ~ums of rnoncy here~n rcferrid to be not ~~tun~pUy and fully p3iJ with~~ut clrm~nd or nuti;~. ~~r I~ - ~n ti~r c•~rnt that r~.h an~i r~rrq thc ti-r , uiat~uns. ,~grerments, conditions, and covenant~ of said notr and ihi~ mnri~aKr, arr r.~~t ~llll), j~f~~iIIFIII~ df1~I ~lil~) (~erf~~nnr~i. then in ~°~tner or ~ny such event, the said aggrrg~te sum ment~oncJ in s.~i~1 nute thcn remain~ng us,peid. ~~th interr~l ai:ru<<! tu thet hni~~. en~i :~ll •~<<~neys secured hereby, shall F>ecome due and payahle forthw~th, or thrrraftrr, a; rhr +~phrm ~~I tia:.1 murt~.iger. ati (ullt a~:d ~um~+lrtrly +ti if all ot the sa~d sums of ine~ney were or~ginally stipuiate:! f~ br {~aid on ~uch d;~~. an}tti~ng -n s:eid nutr r~r ~r th~s szic~rtga~~' t~~ thr :c,n- r~ary notwithstanding: and thcreupon or thercaftcr. at thc option of sa~d murtR~tc~, u~thnut n~~t~cr ~~r ~lriran~l, ,u~t ~t le~~ ~~; ~n ryuity. n~~y he prusec~ted as if all moneys sec~rrd herrhy had matured prior to its insUtut~un. ~hr nu~rtgagre may fumclcue ihm m~rtzege. .~` t~y thr arnount so declared dur and pa/ahle, and the ~aid ptemises shall hr sold lo s~titify and pay the .arne tngether ~~th c~~sts, r~prn~r., en~i slluwances. In case of partial fnrerlosurr of this mortgage, the mortgaged prrmisrs shel) hr ti,~ld ~uh~rcl t~~ thr iuntfmnng hrn e~f thi, mnrt- ~age for the amuunt of the debt not then due and unp~id. In surh ~ase the pro~~i~~on~ of ttiis , aregraph me~ eFain h: J~':11It'lI ~~t !herr~ttrr frum tin~e tu i~me oy the murtgagee. ~~~x351 F~~~~2344 NUD 9?t tOA~ 16 791