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}o'CR V.o\Lt'!! RE('FJV!ID. tn~ UndpT3irol!'d promille(.) to pay to
JlcCAUGBd I8JlNAGI CCllPArf, 1_0.
. a c.orpof1\tion o~ and el.iatinl' under
the1aWIJaf State (t,t'101"14& ,ororder,theprindpa1&umof 11nw
Th.oU83'nc!. S1~ Hundred and 00/100- - - Do11an ('r:.: 9,600.00 ), with intere8t ff'(~
date at the rate 0171 v. . oae-tou.rtti };1ft' centum ( 51' ~) per Annum l.m th3 unpaid
balance until paid. The said prmeipal and intenwt thal~ ~ ~ l\t the oftice of
IloCATlCJllAJf MCIl!GAQI CO AJY. DfC.
iD OOX'al Gabl... 'lonk .01' at M1Cb. other place.. the ho!d.,r may deaignate in
writm.r. in monthly iNtaJIn'Mmta of lifty-thre. and. 09/100- - - Dollanl (, 5'.09 ).
enmmeneiDl' on the ftrst day of S.pt.aber , 1961 , a.nd cn th(l first day of eACh month th~re--
after until the principal and intereet are fully paid, except that the final PAynumt of the entin' indebtedness
evidenced h.ntby, if not 800Der paid, shan be due and payabk on the tint day of A.ugus t , 19 91 .
If deli-ult be made in the payment of any in.tallment under thiA note, and if .ueh default ill not made
rood prior to the due date of the next lluch installment. the entire principal 8um and ACCrued interest' shall
at once bec{)me due and payable without notice at the option of the holder 01 this note. Failure t(} exereise
thi& option shall not CODAtltute a waiver ot the right to exerciee the NUne i~ the event of any :3ub8equE'nt
default. In the event of def&ult in tht> payment of thia note, and if the urne iA collected by an attorney
at law, the under:sirned hereby agree(s) to pay ail coat. of collection, indudi~.a na.&8oneble attorney's fee.
Preaentment, protest. and notice are hE'J'eby waived.
..
__ .~.~~._h._ML_h'___'-
Ruth K. Duke
..4..nd ehall duly, promptly, and fuUy perfann, discharge, execute, effect, complete, and comply with and
abide by each and every the stipulations, agreements, condition6, and covenants of said promissory not~
ann. of this mortgage, then this mortgage al1d the estate hereby creat-ed shall ct'JUle and be null and void.
And thE: mortgagor further covenants as follows;
1. That he will pay the indebtedness, as hereinbefore provided. Privilege is rest'rvcd to pay the
debt in whole, or in an amount equal to OnE: or more monthly payment& on the principal that are next due
on the note, on the first day of any month prior to maturity: Provided, however, that written notice of an
intE:ntion to eXE'rcia.e fiuch privilege is given at leal!t thirty (30) days prior to prepayment; and, provided
further, that in thE event the debt is paid in full prior to maturity and nt that time it is insured under
the provisions of the National Housing Act, he will pay to the mortgagee an adjust.ed premium charge of
one per centum (1 %J) of the original principal amount thereof, except that in no event shali the adj usted
premium exceed the aggregate amount of premium charges which would have lx>e-n payable if the mort-
gage had continued to be in.surOO until maturitr: 8uch payment to be applied by the mortgagee upon its
obligation to the Federal Housing Commissioner on actount of mortgage insurance.
2. That, in order more fully to protect the security of this mortgage, the mortgagor, together with,
&nd in addition to, the monthly payments under the terms of the note secured hereby, on the first day of
neh month until the 6aid note is fully paid, will pay to the mortgagee the following Bums:
(0,) If this mortgage and the said note ~ured hereby ate insured under the provisions of the
National H(tusing Act and so long lA8 they continue to be 80 insured, one-twelfth (II.) of the annual
mort2'ag~ insurance premium for the purpose of putting the mortgllgee in fundI; wit~ which to dis-
ch.arge the aaid mortgagee's obligation to the Federal Housing CQmmi5sioner for mortgage insurance
premiuma ::mnmant to the appBeab!e proviJdolUl of the National Houelng Act, as amended, and Reg-u-
latioM thereunder; the mort~ shall, on the t&mination of ita obUration to pay mortgage insur-
,.Hlee premIUms. credit to the account of the ml.>rtga.gor all payments made under the provisions of this
s~bse<:tion which the mortp'Ele hu not become oblipted to pay 1:;..) the Federal Housing Commi,,-
,Honer.
(b) A sum equal to the gTOt.md f't'!nts, if any, next due, plus the premiums that will next become
Que a.."ld payable on policie15 of fire and other hazard inaunmce covering the mortgag-ed propt'rty, plus
taKes nnd a.ss~BSme~t;s next clue ?n. the raortCqed property (aU as estimated by.: the mortg-ag:~e) l'7~g
aU 3Unu al.ready paId therefor dlVlded oy the number of months to elapse before one niOntn prIor
to the date wh~n such :rround r<enta, premjuma, taxes, arId IU\Se8Sffient.s will ~ome delinqu.ent. 8\.lC:l
luma to be hf"Jd by mor'i.g~ in trust to pay said ground rents, premiums, taxe6, and spe.:ial assess-
ments,
I,C) All payments mentioned in the two preceding suhte<.>tions of thill paragraph and all pay-
m~nta to be made uncle!' thi{'! note ilt'Cured hereby shaH he added together and the &ggreKatl.~ amount
thereof sbAU be paid by the mortl'aaror each month in a Bingle payment to be applied bv the murt-
g&g'1ti$ to the f'olkrwmj' itt!ms in the: order Mt forth; .
I, prtml.i~ charged under the eollt:r&t:~t ()f inaura.v:e with th€ Fed;~'tal Hom~ing Com-
mUialOu.-u ;
it. gro'it~ re.nt6, WeB, ~entg, fire,a.nd QUlfJI" ha:;;arcl f;mmranN: prenliuma;
m. jntent",';!lo"t Oil the n"ot-l~ i!I("i:ur'i!id h~,N:b~l; and
!\" l.J:'tWIyt.i=ti~m t.h1'1' priMi~ of Baid n.
Any defkient.:y in the ounount nf lJueh 3Uregste rrwnthJy P4J<')11ent t'haiL tmh~E,g made gc..,,:j by tx..;
mo~O'.r r p~ior to the due da.wQf the.!~ext ~tl{m ~?'ment, ooMtitut-<; 1m I"\'ent. d... default ;~.nrl!.:.:..": th;l.l.mor.i>,
~. ~ m(}rt~~ m.a:y eoll-e~t a late charye ~lot to IDl:~~ two Cf:,m.$ \2~} for ~a.cn doliar \fJ! M
~ ~ lnOl'e tNm ft1t.Mn. OS) days in "':l're~ t6 covel' th.e e-"ltra .nq~:n~. involved in handJing
d:eimqucmt ~"lDi9Ilu..
~. ThAt if the total of the paymenti mMe b' the m!)~ u:ndar (c) of pa.ragraph 2 p1"'€'Ced ing 8hJIIH
~~ the amount of. piI)-m;entIJ actUs.Uy ~ the mo'rtlr~!, for ground rent-ll, tllXeg snd ~!'\3m{"'nt.~
@d iu-ura1.u::$ premium4. &II the cu.e ""1$,y ~~ aceu shAll be ere&ite,d by t.~e rno~~~ on. aUbtH';Quent
~~Ul to be mad~ by the rllortS'~r, it; bDw'GWl'l ~ ~fltbJy p&yrMft~ mMi3 !.1y the mcstgagor
it'