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Home My WebLink About0216 " .', .' " ". '.. . ., '._.' ..~ ,,,;;-., . ~ . '.~ :'. . ..... '. ." .I: :. . .', ' . . . ..' ' .: .' 1:3 ?1f1 '- .J - r . '~- v', . , A. FOR V ALlil-: Itf:n:lvF.n. tht' undersib'1ll'd promisl'( 3) to pay to .~:.::'~::{I~..\:: .:ITlJB I::...,u>~-..~~~ C06'~;#1\::Y , a ('orporatilln \lr~anizt'd and t'x;,.;tin~ l!older the law3 of ?' l' ~<.d , or ordt'r, th-: prilll'ipal sum of ::>€'ve:: '"ce:', t::o..eiu....... ::U!'ee ~.u:,ul'e-i ,.:,u ~\ )/luO Dollars ($ ],.7, JJJ. 80 ). with inlt'n.st frum dale at the n.te of F~ v e :1 :-'c'~ 0;, e-h,~ If per centum ( 5-; ~,) 1M.'r anllum on lhe unpaid balance until paid, Thp said principal and inten'st shall be payable at the otlice of .~..lel'icnn l" tle I:wurllr1ce COll1,IUil:" in : ~~ a:.;l, F1 ')!' l:in . or at such other place as the holder may des!gnate in writing. in monthly installment~ of !;~ r;ct~'-eicJlt and 26/100 Dollars ($ Cjd. 26 ), comnll'ncing on the first day of AL<i..;UC t . 1961 ,and on the first day of el\('h month there- afll'r until the principal and interest are fully I>>lid, except that the tinal payment of the entil'e indt.htedness evidenced hereby. if not sooner paid, shall ht, dht' and J>:lyable on the first day of J 11} Y , 19 ~ 1 , If dt'fault he madt' in the payment of any installment undt'r this note, and if su('h default is not made good prior to the due date uf the next such installment, the entire principal sum and accrlll'd inter('st shall at onre II('COml' due and payahle without not in' at the option of tlll' holder of this note. . Failure to exercise this option shall not ('onstitutl' a waiwr of thl' right to (>xl'l'l'ise the same in the event of any suh~'''>(IUl'nt dl'fault. In I he e\'l'nt of dt.fault in Ow )laynwnt of this noll" and if the ~ame is collected by an attorney at law. the undersigned ht'n'hy :t~rl'ds) tu pay all costs of collection, including. a reasonable attorney's fee, Presentment, protest, ar.d notir.e are hereby waived, (,.~~':,;.J .3t.tc ]'),;u::-.f'n:; ,!''j' .:)t';:ns :l:'. :'... :,:cj, ~() ()~"i ~n;.~ J r10te r,~-.;.d c;,:-,.cellci. ! s/ Edwnrc. n. Jacobs -E<hlE.i;a 'l{:'~rac'obs (;,jet.1) 81 K~~y'_.~.. ~;~C~pB Kay R. J~<co1Js {Seal} -p- - ------------- And shall duly, promptly, and fully Ill'rform, discharge, execute, effect, compiete, and comply with and abide hy each and C\'l'ry the stipulations. agn'eml'nts, conditions. and covenants of said promissory note and uf this mort~age, then this mortgage and the estate hereby created shall cease and be null and void, And the mortgagor further covenants as follows: ' 1. That he will )lay the indehtl'dness, as hereinhefure provided. Privilege is reserved to pay the deht in wholl', or in an ~\mount equal to one or more monthly payments on the principal that are next due on the notl', on the tirst day of any month prior to maturity: Provided. however, that written notice of an intentiun to l.xercisl' such pri\'ill'ge is given at least thirty (30) days prior to prepayment; and, provided further, that in tht, event the deht is paid in full prior to maturity and ~t that time it is insured under the provisions of thl' National Housing Act, he will pay to the mortgagee an adjusted premium eharge of one pt~r ('l'ntum (1 I;, ) of the original principal amount thereof, except that in no event shah the adjusted premium l'xct'l'd the ag~re~ate amount of premium charges which would have been payable if the mort- gage had continued to II(' insured until maturity; such payment to be applied by the mortgagee upon its obligatiun to the Ft'deral Huusing Commissioner on account of mortgage insurance. 2. That. m order more fully to protect the security of this mortgage. the mortgagor, together with. and in addition to, the monthly :>ayments under the tenns of the note secured hereby, on the Ant da7 of each month until the said note is fully paid, will pay to the mortgagee the followm. 8l&ma~ (a) I f this mortgage and the said note secured hereby are il\8ured under the proviaioDa of the National I~ousing Act an~ so long as they continue ~o be so insured, one;-twelfth (1;}.t) of the &DJlual mortJ(age msurance premIUm for th~ purpose of puttmg the mortgagee m funda With which to d1t- charge the said mortgagee's obligation to the Federal Housing Conunis8ioner for mortpp inaurance premiums pursuant to the applicable provisions of the National Ho~ Act, u amelKled, ~Reau- latio:1s thereunder; the mortgagee shall, on the termination of ita obliptio!l to pay mort...... maar- ance premlUms, credit to the account of the mortgagor all paymenta made "mder the_pro~ouaofthia ";\ihs~ti0n which the mortgagee has not become ob~ated to pay to th~ FederalllowdDa ()dnlftl.. ~:iuner. (b) A sum equal to the ground rents, if any, next due, plua the premiums that will next ~ due and payable on policies of fire and other hazard insuraDCe coveriDa' the DlOI'taqed pr.)~t >>IUI taxes and assessments next due on the mortgaged property (all u estimated by the mortppel1e1a 'J all sums already paid therefor divided by the number of montha to .~ before one mOlittl priot- to the date when such ground rents, premiuma, tax.. and ...tltmlllta Will Ncomt ~t, .. 1 sums to be held, by mortgagee in trust to pay laid JTOUDd rent., pnmllllDlt ta:uI.-~.! ~W. 1 . menta, ' (c) All paymenta mentioned in the two precediq aubIectIou of thia puoqraph ar.d all ~ ,1 ments to be made u!1der the note ucured he;:ebylha1l be added toar..h... ua tat. ~ , " ~,..",",' . ' thereof shall be paid by the mortraaor Nd1 month in a ..... JIIQ'1DIU ... bO ....-........ gagee to the following iteru.s in the order let forth: '.- " ." \'~'1"~;. I. premium charae8 under the contnct ollllMl!... wi1tJ &e ~' . . miuioner;. ' ",. '- .':" !'.: D. ground rent.. tax.., ... vr_t., tln, ........td m. intereet on the DOte MCm"8CI hereb,; aM, l' IV. ut'~...uzatioD of the ~~ at...w... Any deftc:iency iD the amoant of neb aar.... ~-.~,...:~ mortp&or pnor to the due date of the DUt ACh~, Gt,. OIlII., ~'." ' - pee.- The mortppe ID&1 coi~ "late -.. ') each ~ent more thaa ttteIIl (16) .,. fit-: , . .' delinquent ~...-tL ", 8. That if the total of tbIt~ts 1Udt exceed the 8IDOQJlt of ~fI -.au~ ~ and inJ.uraDce pnmi.... u tile cue Bl&7 ~ to be .... '" .. ........ ... . --:- ~._---~........ "C'fI'.