|
�
<br /> <<�� ,
<br />��� ,. � �'',;�
<br /> , .�
<br /> � � � ��� �
<br /> ��
<br /> a�ad aboui the buil3ing of buiidings nuw erected or hereafLer C�a bc crected on ih� lands herein describcd wk�ich are nccessary
<br /> `. tcs the Compictc and �^omf�rtabta use and occu�rncy of' sncli building or bulidings fcrr the Esurposes f'ox �tirhicti they werc ar nre
<br /> te be erected, ianctuding alY goads and chattel,s atad �ersonal pru��riy as are ever use� or furridshcd in o�erating a 6ui3dis�it os
<br /> itic ;tctrvitiesconducted tllenin, sinuiax Lo it�e oi5e herei.0 describea� anci r�fen-nd to, and all rr.ncwals or replac.emenYs thescof
<br /> � or artScics in substitution therefor, whether cac not the saine am, or shal! he atttchad Cei cxid buildixtR or buil�iiis�s in s�ny
<br /> manner. It is hcrel�y agned that Go [f�e ext�nt �scr�iutted Uy law all ot' tiie toregoing property and i'ixtures ara to be deexned
<br /> r �� and heid to be n gart of and affixed Ro the realzy.
<br /> �
<br /> � TO HAV� AN� TO HOLIJ thc pre.nuses tind-{>rnperk.y aUc�vr desczzbed ; w"rth alt Ute appurtrii�ne�s the+'eunto beior�in�
<br /> �"„�' un2n the A3ottgagec; ,an3 to its successrsts and assagns; forever. 1"I�e ' Mnrtga�or ret�rasents to , and ��vri;as� ts w�ittx, ttse
<br /> � A4otEgagee, ittat ihe Mortgage�r°has gond sight to sc:ll and canvey said premises; that ihey are free from encu,nidran�x, and tlant
<br /> � th� MarEgagnr wil2 watrani and defend the sa�ue aga3nst itie lawful ctainas of uil p¢rsons whonxsc�evcr; and thc sai�i Aic2rtgagor
<br /> � heteby retinquishcs ali ri$hts ot homeskead, citrier in taw or in �quily, and all qkher cr�ntingent iwteirst� �f Xhe hlartgagcar ui
<br /> j�- and to the sbovedescrib�d pnmises, ih� inYeniion t�eing f,o cnncey lier�eby an absotuLc titte , in fee simnfr., ineluding a11 rig,hts
<br /> vf homestead,and otfter rig}its. and intetests as aforesaid,
<br /> ' PROY(DED NE:VERTfiGLE55, that gur ia justly indebfed to thc Mort�agec in tl�c piznc:spat sucre af M�� ��
<br /> SEVEN hilR�3RED FIFTY—FOUR TFtpUSlWD FOt�2��75k , 400 . 90 � �n�3 th�t ttte r4orlgsgor sttia(i w�ell an�i truly pay- or
<br /> Cause io be �aid fo the Moxtg3gee, or �rder, the principal sum as provided in and ew�idcnced Ny its cextai�� l'rramisaory Nvte (�r
<br /> any No[e in reL:eH�al or extcnsion tPrereot) o!' evc:n date herewith; and stxall #zirtt�er pay ail add "stianal swns and advanccx
<br /> accwrding to thc tetms hereof as tha h3ortgagce may advance 1u the Mortgagor and also an}• an�i a!1 suuis ncaw or hereaftez .�ue
<br /> � irom the �1urt�agor ko the hfert�agce: Said Notc shafS H4'8I ititerest frr�m date .�n thc outstanSCng t>alance at
<br /> �I��7- g�E-�<s}r cent per aunum, payablc in monthly installmerits tx�ynning on ihe first day �f ti�e morith following tlxe
<br /> data l�erec3 with a final maturity of pGTQE3ER 1ST . 2018 . S:�id `3ute is idcnxified as beia� ucured heret�N tiy a
<br /> cartificytc t4�ercon. A!! the terms qf sald N�te are incorporated hy rcferc�ce, and this conveyancr stxafl xec�u•e any and atl
<br /> � extensions of said Nwte however e��:dcnccd . 'i'his 3�fortga$e is te� remain in full force and effect untii ali c�mditions anA
<br /> ionuenants of said Mort�a�ge are perfarmect; at which timc this Mortgage s:hall Uc null and void.
<br /> � An3 shall perform a�ch and r.vcry coYanant , cundition , and agreement h�rein contained , tlten thrse present� sttatd Ue
<br /> vnid, afherevise to temain in full turce gnd e.ffect.
<br /> �: W � � . . . . . . �
<br /> � "f2ie ;t�ortgagqr in urder more fuily to pratecc Yhe security of this !�icxtgagc , agrecs:
<br /> � 1 , That M�rtgagor will ��y ttxc Note at Uie Yimes anet in che manner pr�vidcd thercin ;
<br /> ' � 2 Tltat Murtgagbr will neat permit nr siaffer thc use of any af the �roperty fnr anY pur�}usc <>tlier th:+ n the us� for
<br /> + w wUich the s�me was iniended at the tirne this hlnrtgs�te was execuked ;
<br /> �
<br /> � 3 . 'I'hat Lhc Regulatory Agrectnen[ , it any, exccuted by ihe Mortgugur and ihe Secretary of` tir�using �nd Urban
<br /> ; � . Dcvelopment, acting by and Yhrou$h ihe rederal fiousing Commissioner, whiah is being zecardeci simuitanr.ousiy herewit2t, is
<br /> incarporated iix snd made a part oE this Mortgage. Upon default under the Kegulatory Atcaeernent snd upan Lhe requast of the
<br /> � � Secretary of Housing and Urban llevelapment , acting by and thrc�uqh ttic !'cleral t{«usi.nK (:ommissioner , thc hulder ot thc
<br /> Note, at its optio;i, msy declrre [he w.hole of the indrbtedness seciued hcreby t� be due and �ayable ;
<br /> � � 4 , 77�at all rents, profits nnd income Cmtti the property cocered by this Mortg:�ge ace hcreby aasigned t� tlie holdcr
<br /> � ' � 2 oC the Note for the purpose of discharging the debt 3�ereby secured . Permission is iiereby �iv�,n to Mortgagar so tr�ng as r�o
<br /> "" default existy hereuiidec, to cc�ilect such rants, profit� and in�omc for use in accordanrc with the ;�rc�visions of the Regulatc>ry
<br /> Q � Agreement;
<br /> 11.
<br /> ' �yj �y,� 5 . That upon defauit hereunder the hotdrr of the IVute shall be enfitled to the appqintment of a rece.iver by any
<br /> � o court haviug jurisdiction, without notice, to take possession und protect thu property descritx�d herein and operate s�roa s�nd
<br /> ` � Z cotlect ihe rents, profits nnd 'nncume ttierefrom;
<br /> i u�
<br /> ; m � b: Tliat at the opYion �f the MaR�agor tlie principal balancc secured hcreby may be re.aniorYiaed �+n terms
<br /> -- � acecptable to thc 5ecretnry of liousing and Urbnn llevclopment, acting by and throu};h the Fc3eral Nousing Co�nmisnioner if
<br /> � a partixl prepayment resulfs from an award in condemnation in accorclancc w•ith provisions of ParagraF�h 3 hereir+ , or from sn
<br /> � insurance paymerit made in accordance with provisians of I'aragr�ph 7 hcrein , where tl�err. is a resu3ting los.s «f prcaject
<br /> � income ;
<br /> a 7 . That ihe Mortgagor wi(i keep the improvements nc>w ezisting on c�reafter ere,:tcd on thc dceded property insured
<br /> , RW I� against loss by firc and such other hazar�is, wsul�ties , and rontingeuciw , as m:�y be stipuluted by the 4ecretary uf ticausiug
<br /> aqd Urban Devetopment, anting by and thraugh the �cderal Housitcg Commissioncr upon the insuranuc uf the Mortgagc and
<br /> other h�iazds ns may bu required itocn time to time by the holder of the Note , and a1l �uch insurance sftalC he evidcnced by
<br /> statidard Fire and Hxtnnded Coverage lnsurance Poliry or Palicies, in ucnauntti noC less tlzan necea,ar?� tu enna�ty with the
<br /> applicabte Cc�insurance Cluuse Uerccntnge, but in no event shail the amounis af cc»�crxge hr less thau S0� �f the insurable
<br /> Values c�x not lus [hen the unpaid balar�ca of tiic iixsure�i �tartgv�,a , whichcver is the ic.sser, and in default therec�f the Ixot�cr
<br /> of tlie Note shsll tv�ve tha rig,iit to ef#ect insurance . Such poliues sttxlJ be endurs�ed with staadani Mort�agee clause with lu�s
<br /> payabte° to the holdar aC the Notc and the Secrciary of Hou�ing and Ur6an Dt:vetopRuent as interest may appear, snd sirall be
<br /> i
<br /> depositad with the holder of the Note ;
<br /> ' Thai if the
<br /> premius covercd hereby, or nny puxt thereuf; shall be damaged by fire or other hazard a�;ainst whirh
<br /> insurance is held as hc�reinabave {�rovided; the amounts paid by any insurance conipany in pursuuncr of thc contract of
<br /> insursnae to the oxtend of fhn indebtedness then remaining unpaid, shall bn paid to the halder of the Nutc, and , at its optiz�n,
<br /> may be applicd tn flie debt or released for the repairing or mbuildirt1t caf ihe premises;
<br /> ' 8 . That aII awurds af damages in cannectior with any condernnation for pubiic use of ar in,juty to any- <>t said
<br /> � zo eri ace 1�erab a ' ia3 atid shs�il la� �aid tu iian hold�er oi tlie i�oie, wi�.i �ua r � i ciue same tu ia anex�t oi cLe.
<br /> ; � P - P Y . . Y �?Vi� . F ' Y E� PY F ' Y
<br /> iaistaUmanu lust cyua under saifl Note, and the hoider of the Note is liereby authorized , in tAo nume oF Mort�or, to executc
<br /> and dc2ivet valid acquittances thercot ax�d to appeat from any such award:
<br /> ' � 9 . That thc Montga�or, together with and in addition to the monihty payinents undec Lhc terms of the tVotc secared
<br /> hereby, wiil` pry to the Mortge�ce`monthly, t�cginning on the first day� of the 1'irst m�nth atter the date hcreof and oi' each s ; t� = ^
<br /> , month thereaf[er unUl.the suid Note is ,fully �sxid, Lhe €ollowing suma; y
<br /> � �� ` s�« �
<br /> ; . /a� M amourst nutfic3ent to.�pravida tho�MortgaRva with .funda to paq the naxt mortgage inaurance premium it thin [natrument end. tlie . �,
<br /> Note encured here6y .ere � i�surod, oc a mbntlaly xrvice chasge, if they ure held by the Secmtary of Nouaing und UrAan
<br /> ' , L � .T3EYBLOpIIiCt4t� 9! t011bWl: � � . . . . � " .
<br /> , , � (1) � !L and xo�.ion� � aa enid� Notn of. oven daCe��and this Snatrument nre inaured or are rclnsured unda:r the vM�siona ot� the . �.
<br /> . .� � � � � � Nat9onal Houdag ACE� an amuunt cutt{cimnt .to accumutat¢ in tfie hands af the MortQa¢ae one mortth ryri�x to iin 1ue date �"`* ,
<br /> � -��� � � � � � � . � � � � ihe zna�ut� morqta�e insurauce 'Memfum. in order �fo provIde auch Mprxpaltee witfi fun�ia M pav nuch premium io the '�: " � ��
<br />�` � � � . � . �. �� Fedmal Haunfn� C.om�Fenioner frurnuent to the� NetionN H�yuning Act, sa amended, end appticeblr Nvgutetions theraw�der, �f ,P3#�� " . �
<br /> . .. . . . W� . .,.,. - . . Y ,n�.�+, . . .
<br /> . . . . . . . . . . . . � � �
<br /> � � � �
<br /> k~;
<br />.a:; '
<br />,., � �
<br />
|