|
. . ,��;�
<br /> r. :. .�
<br /> ' � b+ OUa '75 �
<br />, ;
<br />,; , � �
<br />, ,
<br /> r: , ; 11) � , � . If �nJ w lon� n uld nole ut avan Jnle �nJ Ihl� Innlmmanl arc IrourcJ ur nrc teinru�cJ unJer Ihe ptuvislonn uf thc Nnliunol pmiilny Acl, en
<br /> .. . nmuunl w01a entto �coumulHe In Iha hxnd� uf Ihc huHter une (p munlh pdur ui lu Jue Jule Ihe unnun� mutl�upe Mewanco promlum In urJer lo � �
<br />' '�,' � . � � provlJc wch holJer with IunJ� lo p�y umh premlum to Ihe 5ec�c�ery uf Huwinµ end Urbun Uevelopmenl pununnl lu �he NnUonxl Nou�h�g AcL . . ��
<br /> � ni umonJeJ , �nd epplicable Hepulotbne IhcreunJer, ur
<br /> e ! (Iq �� If nnJ w lona n�nid notc of cvetl d�le �nd Ihfe indrument nro Ael� by Ihe Scrrelary ul NoudnR unJ Utban ikvclopmenL s monlhly chuge�lin . `
<br /> � ��- � Ileu ot a mortQasa Inwnnu. pramlum) which thdl be In an amounf eyuol lo anedwal(Ih ( 1112) ot unrhnlf ( 1121 �Kr «nlum of the Mvenpa ouf . ,
<br /> J , � .� atundingbaloncedueon �heaolecmnpuledwllhoulluklnyinlodcwun� Jellnqurnelteurprepoymenlr
<br /> � (b) A wm equallo Ihe yround renls, It any, nexl due, D�ua lhe premium� �hnl will next bccumt Juc nnJ puynble un �wtic�d uf fhe nnJ odicr ha+ord lusurnncc � �
<br /> � � covedny �ha monpayeJ propeny; plu� Uxoa ond edee�imen�e naxt Jue un IMe mnrlguyed prupepy (nll a� esdmaled by IAe Mnnyqpcel leex oll eume d•
<br /> � � � rc�dy pdd therc(ordlvided by Ihc 'numher nt montht lo elepae 6efoie one monlh prior to thc Julc whau +uckyounJ renla, premlumi, loxm md euns• � �
<br /> 1, � �� �, �meN� wlll Necome.dallnqueN� euch eums to ta held by Motlyoyee in Irud lo pay uiJ pround nnU, premiuni�; tn�ae ned �necial ue�eesmenU; nnd - ; '
<br /> (e1 All peymem� menlianed In Iha Iwo prtcediny aubsecllonn of thlt p�npraph nnd eil paymems io be mede under Iha note ucuroJ hereby,nhdl be �ddeA � � .
<br /> lugelher, end the eqprepule nmounl Ihetcof �holl I+e palJ by thc Mudpagm cach monlh In e ilnµlc pnymenl lo Fe npplled by the Mor�Rngee lu ihc fnllnw�
<br /> , k Jnyllameie �heorderwlfmih: . �
<br /> ' 1p � � premlum charQe� unJer Ihe contrect of ineurnnce wltl� the Secretory �of Houfinp nnJ Urbnn Ikvdnpment , Ut munlhly chnrpe Un Ileu nf munpeQe
<br /> �� ' � . inauroncepremiuml� w �6ecammqbei ... . . . . . . . . . . . ..
<br /> ' pl) �', yrVund renls, tuda, ussenmenle, Orc onJ oihrr haznrJ Innurence premiwm ;
<br /> Ulp � �� Intercel un Ihc nok secureJ hercby; end
<br /> : 1 � � � . U V) "� �� emorUtel(on nf thc pdncipul uf an�d an�c: . . ' . . . . . .
<br /> ` � � Any deticlency in Ihe innounl ut�nny auch ng�trcgote manthly peYmenl ehnll; unlesi meJe kood by Iho Murlpngur prlor� lu 16e duo date u( Ihe nexl such ��
<br /> poymenl, cunn�iiuta un evont ot Jefouil undcr Ihis mu�tpage. I'he Morigngee mny rnlleci a '9�de chnrge" no� lo eacoeJ lwo cenU RQ) laccach dollor ISI )
<br /> <if cech WY�ncnl morc than Iifleen ( IS) Jaya in nrcara ta cuver the extre eapenae iavolveJ in himdlingJclinyucn� pnymcnls. � �
<br /> � . � . . , , . . . . . : , . . .
<br /> F 3. That iF the lolul of Ihe payments made by thr Mortgagur under ( b) of paragrnph 2 praceJing shall exrecJ thrmm�unt o(
<br /> `. � payments acluully made by the Morlgngee for ground rents , taxes und assessments or insurnnre premiums , as the cuse may be ,
<br /> such excess ; iit thc option oL thc Mortgugec , sha�l be creditcil by thc MoMgngec on sutiscquent payments to 6e miide by thc
<br /> � , Morl�gor , o� refunded tolhc Mo�lgagor, lf, however, the monthly payments made by the Mortgagar undcr (b) of pnragrdph 2
<br /> ; 1 preceding shall not be su(ficient lo pny groand rents; luxes nnJ ussessments or ins�vuncc prcmiums , as the cnse may br, whcn
<br /> 1 the same shall become duc und puyuble , lhen the Mortgagor shull pay ro thd Morlgagee ony nmount necesssiry to make up Ihc
<br /> i deficicncy, on or before the dute whenpaynient of such gruunJ rents , tnxes , aissessments ur msurnnce premiums shail be due. If
<br /> ' � ut nny timc lhc Mnrtgugor sfioll tender to the Muttgugee; in accurdnncc with ihe pro4isions of the nate sccured hereby, full
<br /> � payment ot lhe entirc indebteJness represcnted thereby , lhe Morlgagec shuil , in computing Ihe nmount of such indrbtcdness , ,
<br /> , . , ' credit l01ho nccount ot thc Morlgagor ull p�iymcnts mude undcr ihc provisions o[ (u) oGparagraph 2 hcreof which thc Mortgaigec
<br /> � haic nM txcome'obligated to pay lo the Secremry of Housing and UrbEm Devclopment iiiid nay balance remaining in ihe funds
<br /> � � ' nccumulated under the provisions of (b) of puragraph 2 hcreof; if lhere shall be u default undcr any oC the provisinns o( this
<br /> mortgage resulting in u public snirot the premises covcred hcrehy ; or it the Moitgagec ncquires the pioperly oUicrwisc altec
<br /> j . defnult, lhe Mottgagee shall npp�y ; at the time ot the commencement of such proceodings ; oc ut the timc the property is othcr- i
<br /> ! wise acquired., thr bulnnce lhen remnining in the funds accumulnted under (b) uf parngraph 2 preceding, as ai credit t�gninst thc
<br /> ( �mount o[ principul then remaining unpaid under said note, und shs�ll properly adjusl nny payments which shnll ltavc hecn m7�c
<br /> � undcr (��) of:puragruph 2. , '
<br /> 4. .That the Mortgagor will puy ground renls , t�xes, assessments . water rates , und other gnveramental or municipal
<br /> 1 churgcs, fincs, orimpositions, fur which provision has nnl been mude hercinbefure , and in defatdt thnreo[ the Mnrtgagee mny �
<br /> pay the same ; nncl thnt the Mutt�;ugor will pr`omplly deliver Ihe olficial receipls theretor ro thc Morlgagee.
<br /> 5 . The Mortgngor will pay all luxes which m�y be levied upun thc Mortgugee 's interest in swd reul estulc and impruve•
<br /> s � ments, and which may be Icvied upon this mortgnge or the debt secured hereby l6ut only to the extent thnl such is not prohibit- �
<br /> � cd bylaw and onlyto the extent thut such will not muke this luun usuriuus), hul excluding uny income lux, Stute or Federul . �
<br /> � imposed on Mort�agee . �md will file the o(ficiiil reeeipt shuwing such raymenl with thc M �rtgagee. Upon violation of this ander-
<br /> , . j taking; �r i[ the Mortgngor is pruhibiled by �iny law now or herw(ter existing [rom pnying thc whole or imy portion ot the nfore-
<br /> 3 suid tnxes , or upon the rendering of uny court decree prohibiling lhe pnymenl by thc Morlgagoror nny such taxes , or it such law �
<br /> � or decree provides thul any nmount su paid by the Mortgagor shaill be crcdited on the mortguge debt , the Mortgagee shnll have �
<br /> thc right tu give ninety dirys' writtcn nutice to the owner of the mortgaged premiscs , requiring the payment of thc rnortgoge ;
<br /> � � debL If such nalice be given , lhe snid debt shall bccome duc , payable tmd collectible at the expiration of said ninety days.
<br /> ' � G. Thid should he fail to p:�y any sum ur kecp nny covenant provideJ (or in �his Mortgage , then the Mortgagee, at its up-
<br /> � � tion , may pay or perfo�m the same , �nd alt expcnditutcs su made shull 6e added to the principal sum c�wing nn the above nole .
<br /> � shall be secured hereby , and shall bear interest at the rate se1 forlh in thc said nolc , unlil paid .
<br /> 7 . That he hcreby assigns, lransfers und sets over to Ihe Morlgtigce, to be applied tuward thc p:�yment of the nole �md �II ;�
<br /> ; sums secured hereby m case of a defuult in the performance of any of the lerms .md conditiuns of this Mortgage or the suid ,
<br /> ' ( note, all the rents , rcvenues tmd income lu be deriveJ trom the mortgaged prcmises during such timc as thc mor�gnge indebted• � �`
<br /> ; ness shall remain unpaiJ ; and the Mortgagce shall havc power ro appoint any agent ur ugents it muy desira for the purpose uf
<br /> ^ ' repairing said premises �nd of renling the sume und collecting the rents , revenues and inwme , and it may pay out of said in-
<br /> ; ; � comes all expenses ot repairing said premises end necessary commissions und expenses incurred in renting und mnnaging the
<br /> same and of collecling renlnls therafrom ; lhe tialimce remaining, it any, to be applicd tnward thc discharge of suiJ mortguge
<br /> ' inJebtedncss .
<br /> ; R. That he will kcep �hc improvements now existing on c�renftercrected on the morlgaged properry , insured t�s may bc
<br /> required [rom time to time by the Mortgagec against loss by firc and other haiuirds , casuallies tmd contingencics in such
<br /> nmounts anJ for such periods as may be requirod by the Mortgngee and will pay promptly, when due , any prcmiums on sucli
<br /> ' r insurance provision [or payment of which hzis not been maJe hereinbeforc . All inswance shall bc canicd in comp�nies ap-
<br /> 3 proyed by: the,Mortgagce and the policies and renewals thcrcof shall bc held by the Mortgagee anJ h.ive nitacheJ therelo lass
<br /> � payable daus,e� in [avur ot and in torm acceptaible to the Mortgagee . In event of loss Mortgngor will give immediate notice by
<br /> mail to lhe Mortgnged „who may make proof of loss if not mnde. promptly by, Mortgagor, and each insurunce cumpany Con-
<br /> ` ; i cerned is heie4Y uuthorized a�d directed to make pnyment , for such .loss JirecUy to tlic Mortgtigee inslead of to 1he Mortgngor
<br /> anil the Murfgagee joinNy, anci the :ns�irance procecds , or any pnrt thercuf, muy be npplied by the Me�rtgagec nt its option either
<br /> to the �eduction o[ the, indebtedness. herehy secured or W thc restornliun or tepair o! the prtiperty damuged . ln event of tureclu-
<br /> sure of this mortgagc or ulhe� iransfer ot titic tb lhe mortgagcd property in cxtiiiguishment ot the �TJebtedness secure� hereby,
<br /> ' all right , tiHe,anJ interest of the Marlgagor in and to uny insurunce policies lhen in force sh�ill pass Io thc purchasar or grantee .
<br /> 1 9. Thnt 6s addidqnpl un� colluteiul security. for the payment of the note JescribeJ , and all sums to hecume due under this
<br /> � mortgage, the Morlgngor hereby nssigns to the Mortgagee nll profils , revenues , royulties , rights and benefits nccruing to the
<br /> � Morlgagur under any and all �iPnod gas Icascs on suid premises , with the right ro teceive tmd receipt (or Ihe same and npply
<br /> them tosaid indebtcdness as well before as ufter defnult in the conJiliuns of this morlgagc , nnd the Mortgagec m¢iy demand , suc
<br /> � fo�, and 'recovcr aiiy such payments wlien due amd puynble , bu1 shnll nol be rcyuircci so to Jo , This nssignment is to terminate
<br /> and become null and void upon release of this murtgage
<br /> e 10. Thaf the Mortgagor will keep the builJingg upon ,said premises in good repnir, un�l neither cummit nor pcnnit wnsle � �,�
<br /> ^ upon said land , nor suftct Ihc suld premises to bg used for nny unlnwful purpose .
<br /> ; 1 L Thnt if the premises , or nny part thtreoG be cundemneJ undcr the power of eminent Jomnin , or �cyuired for a �ublic �'
<br /> � use , the damuges awarded , the proceeds for the luking of; or the consideration tur such acquisition , to the exlent of the tull y � ,
<br /> ; � amount o[ indebtednes upon this mortgage and the note which it is given to secure remuining unpaiJ , are hereby assigneJ by tlic 4a
<br /> Morlgagor to the Mortga�gee ; �nd shull be p:iicl forlhwith lo said Mortgugee to he applied by the latter on uccount of Uie next +�
<br /> maturing installments o! such inJebtedness. � � '
<br /> � � , � , � J
<br />� � . �. �. �
<br />�
<br />�
<br /> t
<br />�
<br />
|