HomeMy WebLinkAbout0970 fhat he ~~11 Exnnit, conunit, ur ~ufftr no Haste, impairn:ent, wmr, icsues, and re~rnues shail be applied by wrh recei~er a.~i~r-
,,r ~lrteriaratiun uf .~~id property ar any part therraf; and in the ding to the lien of this mortgage and the practice of such ~ourt.
r~ent ~I the failure ut the \lortgagor to keep Ihe buildings un In the event of any defauit on the part of the Moiigagor
,:+i~i premisc+ and thosc to bc erc~tcd on sa~d prrmiscs, ur im• htreunder, the ~lurtgagor agrers to pay to the ~lortgaget on dt-
~~ru~rments thrre~~~e, in gcwci rrpair, the \lortgager may~ makr mand as a reasanabie monthly rental for the premisrs an amount
.u~h rrpairs a~ in it~ dis~rrtion it ma~• dcem ntce~,ary fur the at least equivalent to one-twel[th (1'12) of the aggregate of thc
~ru~r prectnation therrof, and thr full amount of rach and taclve morxhly installments payabic in the then current year piw '
r~rr~ w~h pa~mtnt shall br immed~atel~ dur and pa~:~bir, and thr actual amount of the ann~~al taxes, assresments, ~ater rates,
.hall th +r~_urrJ h~ thr lirn of thi~ ~tortgage. and insuranre premiums for ~u~h }ear not co~cred by the
aforesaid monthly payrt~ents.
6. That ht Hifl pa~ all and s~ngular the ~utitc, chargcs, and ex-
~n.ri, ir.iludi~tg rea~nnahle laNyer'c feec, and co~ts of abctractc 10. That la) in the e~ent ol any breach of thi, mortgagt or
:~t ntle. iniurrrd ur paid at ar.} ttmc b~ thc ~tartgaget beiause of drfaull vn the part of thr \tortgagor, or (b1 in the e~ent that an~
;hr tailurr on :hr pan ot thc ~turtgagur prumptly and full~ tu oi .aid sums of money herein refcrred to he nut promptlr and
~'cf~Uff11 fhc agreernentti a~d co~rnants oi ,aid prom~ssor~~ note fully paid ~ithout demand or n~~tice, or 1~) in ttu e~ent tha! eaih
.+n.i th~. murtgage, and .aid .c»ts, ihargr., and r~prnses shalt br and e~er}'of tht itipulations, agreements, cond~tions, and
:mmr~iiatcl~ due :~ncl payahlc ~n~! .hall be sr~ured by :he I~en of ro~enants of said note and thi~ mortgage, are not dul}, promptl~.
•tu, mur[gage. and fully~ performed; then in either or any suth e~ent, the ~aid ag-
grcgatr sum mcntiuncci in said note then remaining un~aid, with
7. Ihat he will lce~ she impru~ements now cx~tiung or hereafter interest accrued to that time, and all montys stcured hereb~•, shall
;rtctrd .>n the m~~rtgagrd pro~rt} insured as ma~ tx rtyw:ed becomr due and payable farthv?ith, or thertafter, a! the option of
!rum ~~rnr t~~ timr b~ the ~tungagee against loss b~ firc and othrr ~aid ~tortgagee, a. full~ and completefy as if aU czf che said sum.
'~.il.if:~~, i:i~U3I1121, :iR(~ cuntingen~ies in wrh amount, and for ~~t munt)• Nerc originaily stipulated to be paid on such dap,
~u.t~ pen~xi, a. ma} he reyuircd by ~lortgagce, and will ~ay :~n~thing in said note or in this mortgage to the contrary not-
' ,~r~nnptl>, whcn due, any premiums un such insuran.c for pa>- Nrthstanding; and ~hereupon ot thertaftct, at thc option of said
! ~nrr,t of wh~ch prenision has nut been madr htrrintxfore. All in- ~lortgagrr, without notice or demand, swt at law or in eyuity,
~ ~urance ~hall be ~arnrd in ~ompanics appru~ed b} ~tortgagcc and ma}• Ex prosautcd as if all moncys securc~ hereb~ had mawrcd
~ !iir ~~li:ie; and reneµals thcreuf shall tx held ~y ~tortgagcr an~! prior to n~ inst~tuu~~n. The ~tortgagee maq foreiluu this murt-
~ ',a~r attachrd ~h~rctu lus~ payabk ciauses in fa~or of and in furm gagc, as to the a?nount so dcclarcd due and payahle, and thc said
f ,~::eptahl~ to thr \torcgagce. In c~ent of lois he wil; g~~e im• prcmiuti shal) he sold to satisfy and par tht same togeeher with
~ nr.l~a~r r;~~u~c by mail [u ~t~~rtgagec, and !~turtgagre ma} mal~e :o~ts, eaFxnse,, and alloMan~cs. In :ase of partial furcclosurc of
~~r~~u( ut 1~~.~ ~t nut made promptl~ b~ ~lurtgag~x, and ea~h m• ~his mortgagr, the mortgaged prem~~ts shall tx aold ~ub~ect to ihr
:ren~e :~mi~am ~un.ernrd i. hcrcbr authcir~~rd and dire~ted to ~ontinuing lien of this mortgagt for the amount of the dcb! no:
:~;.+l.r , s~mrnt fur su:h lo4s direttly ~o the ~fo:tgager inste~d uf then due and unpa~J. In ~urh .ase thc pro~isic~n5 uf thi~
~hr ~l;~rt~agur and thr ~lortgagee jo~rtl}, and the insuran~c paragraph m~~ aga~n tx a~a~lr~1 of thereaftrr Irom t~me to ume
; r~~:rrJ., ~~r ari} psr[ thcrtiuf, may bt applicd hy the ~Sortgagee h~ tht ~tortgagrt.
k it. ~~ptio~~, rither to the rcduct~on ol the indebtedncsti herch~
~ • ~ur:.f E~r to thr reu~~r~nun ur repair 1,( the proprrt~ Jacnagrd. 11. That he Hii! gi~c immt~l~ate nuu~e h~ mai! to thc ~1~~rtgager
~ {n r~.r~! .~f furecl~~tiure uf this mortg:~ge and oihtr trans(er o( utlr c~f ~n~ iume~an~e, tran,(er, ur ihange uf uanrrsh~p c~( the
~ t!:r ~r~~rt~aged pru~rt} in rxnngwtihment ~~f the indebtcdnrti~ prernisr~.
•r,usr~ hr~Ch~, 1ii nght, title, and intere~t of !he ~tortgag~r ~n
~ t~, sn~ in~u~an,r ~~.~ii.E_r thcn ~n f~~r;r ~hsll ~a~c tc+ thr pur- 1.. That :to Hanrr uf an~ ~o~rnant hcrrin or of thc c~hligatwn
`.s~rr ~ r.rnntre. ,c~urctil hereby ~hall at am time therealter be heW to t~r a uanrr
~ ci( the termti hcreaf or vf the note se:urrd herch~.
8. Ih~~ ~2 thr ~rt~;i++cti, c~r ar.y part therruf, hr cun~rcnnrJ
.~~~rr ~n: ~+uHer uf rminrnt dumain, t~r scyuired t~ir a publi. u,r. 13. That if thr ~turtgagc7r de:a~lt in am of the cv~enant~ ~~r
::r .1.~rr3agc~, prc>:rrJs, and ~n ~un.~~cranon f~~r tiuih acyu~i~tiun, agrce~nents ~c~nta~nc.i hertin, or sn taid notc, thcn thr ~lurtgsgrr
~ ;iie rxernt <~f thc fzjll arnount ~~t indebtrdnetis upon thi, \lurt- rtiay pe: (orm the sam~, and a!t expenditures hncluding rcasonablr
$ -.Sa:. 4llt~ thr .'~ute .tcurrd hrrch~ rcrnain~r~g ~.:npaid, are hcreM~ attorne}'s (cesl madc h~~ tht ~lostgagee in s~ du~ng shall dra~+ in-
~ .,•~~~nrd h~ the ~tc~rtgagur to thc ~tort~agec and shall be ~+ai~1 tcrest at the rate set forth ~n the note sc~ured hertb}, and ~hal{ be
E r~~rtln.ith the ~lurtgagee to be a~plied hy ~t cm a;~crunt ol ths repayable immediately and Kithout demand by the \turtgagor ti~
T ~ndrhtrJne~ti ~e~ureei hrrchy, Nheihca duc or not the ~lortgagee, and, together w~th intercst and «~st+ ac~rwng
~
thcreon, tihall be srrurcd b} this mongagc.
- 9. Ihat thc ~t~~rtg~,~rc ma}, at an~ Umc pcndir.g a~uit u~x~n
!t:;. me~r;~,igr, ap~i~ t.~ the :uun ha~:n~t ~ur~.d~itwn thrrr~~f f~~r li. That the ma~l~ng uf a wntten non.e or ~irmand addre~~rd to
~:~r ~p~~inir~ir~zt c~f a re~e~~er, and ,u.h ~c~urt .hall furthW~~h ap- the oNner of rrcord of the moregaged ~sremius, or directed to the
;~nnt a resc~.cr ~zf the premisc~ ;u~cred hcrchr alt and s~ngular, ,a~d u;~ner ai the lase addresc arwall~ furnished to the ltortgagte.
+r~.luJ~ng ali and ,,ngular thc ir,come, prufit,, issucs, and re~enue. or di:erted tu 4aid oNner at ~aid m~rtgagcd prcmiscs, and maifcd
4 tn~m wha[etier sour;e den~ed, each and e~ery o( which, it be~~g br the Unucd States madis, shail be s~fficient i}otice and demanci
r~pre~+ly underst~xxl, iti hereby rnortgaged a~ if specifically sel in any cau arising under this in~trument and reyuired by the pro-
~ f~~rth and .7e~cnheJ in the grannng anc+ hatxndum clau~es hereol. ~~sion~ hereof or bq law.
; and ~uih rc:c~~et shalt ha~e all the hruad and effecti~e funcuom
~ ~and ~wcrs in an w~sc cntrustcd b a court to a rert~~cr, and 15. Thc ~t<~rt a or fu!thcr co:cnant~ that shoulA thi~ mort a c~
~ t'< Y > 8~ S B K
s ~,ich appe~~rtment shall be made b~ ?uih tourt ac an admittrct and tht nutt St.ured hereby ?ut tx eligible for insurance un~ler 60~day s
: c~~uit} an:l a rnattcr of absolute nght t~~ sa~d ~tortgagcr, and thc National Nausing Act Nithin p~~X~~~xj~~~ f rom the
~ ~,~:chc~ut refcrcn~e ~a thc adcyuac> or ~nadcyuacq of tht ~a1ue of herrnf (writtcn s~atemcnt of any officer of the Dtpartmrnt of date
~hr p*e~pert} murtgaged or to ihe ~n:+ency or intiol~ency e~f said t{ous~ng and Urban Dt~elopment ar auihorized agrnt of the
tilr~rcga~<~r ur ~hc dcfcndant~, and tnat such ~cnts, profit~, in- Sccretary of Hausir.g and Vrban [k~elopment dated s~bsequent
Paye 3 ot 4 ~ p HU0~92170M-1
594 l ~7~
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