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Fott Vnl.uB ~c$tvE~. the nndenianed promiae(s) to p~y to • 1
ATItA FI~iCIAT. CORPORATI0~1 . ;
, , i
. a oorporatioA or~u?ised ~nd exiatin,~ uader ,
the lsws o~ DelaWare , or order. the princ~pt?1 aum oi TMelva thouaand ~
nins hundred fifty aad ~io/x.00 ------------•~ollars t$Z,950.00 ).with ;
interest iro~m dnte at the rate oi Piva - ot?e-quarter per oentum ( 5} 96) per '
~u?awn on the unpaid balanoe until psid. The aaid principsl and interest shall be payable st the o~oe of ~
l;
ATICO FI~1fAN~IA~,. ~O~RA~O~N
A iriLilmL 1~ Ir OS'LQa , or at such ather plAC~e as the
ho1der may designate in writing~ in nwnthty instAtlmenta of$everity aDe attd 61/100
(i 71.61 oommencing on the flrat day oi ppril ,19b4 j snd
on thefirst day of each month theresfter until the principAl ued inter~at are fully paid, esoept th~t the fltu~l
paymetit of the entire indebtednesa evidenced hereby, ii not sooner pain, ai~ul oe due waa ~wu:a ~u ::.a
~~~at day of 1+lareb ,1994.
If defaalt be made in the p~ayment of any inatallment under this note. and ii such default ia not m~de
g~ood prior to the due date of the next such inatallmer?k the entire principal aum snd aocrued inter~t ahall
~t onoe become due su?d payable without notice at the option of the hotder of this note. ~silure to exercise
thia option shall not constitute a waiver of the ri~ht to exerr.iae the aame in the event of any sub~equent
defiwlk In the event af default In the payment of this note, s~nd ii the aame is collected by an attorney
at L?w, t6e undersigned hereby agrce (s) to p~ay all costa of coUection, including, a re~aonable sttorney's fee.
[ Preseatment, protest, and notice are hereby wAived. ' '
(3tate Documentary Stamps ~~..~elie A. Childs (SF~IL)
-affixed to original note ani ~olfe A. Childa
' cancelled. )
s/ S. ~lender Childs (~EAL~
E. Elender Child•
And sh~tll dn1Y, Promp~r. and fnl~? I~ertorm. dia~hu8"e. ezecute~ et[ect, complete. and oanply wlth ~nd
• tbide by each aad ever~? tbe atipulAtions, ~reements. conditiona. and oovensnta of esid promiasory note
~nd of this mortgsge~ thea this mort~e aad the estate hereby created shall o~se aad be nall nad void.
And t*e mortg~gcr turther covens~nta as followa :
1. ~at he wID p$y tlie iudebtednesa. as bereinbefore pmvided. Privilege ia reaerved to pa~y t6e
~ debt in ~v~ole, or in an amount equal to one or more montiily p~ayments on the prIncip~l that are next dne
an the note, on the lirat day of any month prior to matarity : Provided, however, thst written notice of an
intention to exerciae such priviiege ia given a~ teaat tturtY (38j ~y~ p~or to pra~ayt~eat: and, Prnv~ded
further, that in the event the debt is paid in full prior to raaturity sad at that time it is insured under
the provisions of the Nstianal Housing Act, he wiU psy to the nwrtgagee an adjusted pt~rnium charge of
one per centum (196) of the origmal principal sunount thereof. except that in no event ahall the adjnated
preinium exceed the ag?gregate amount of premium charges which would have been pa,yable it the mort-
gag~e had continued to be insured unti! maturitg; such payment to be applied by the mortgagee upon its
obligation to the Federal Housing Commisaioner on aa~ount of mortgage insurance. ~
That, in order more fuUy to protect the security of this mortgage, the mortgagor, together wit6,
and in addition to, t6e menthly payments under the tern~s of the note secured hereby, on the first daq of _
esch month untii the said not~ ia fully paid, wiU pay to the mortgag~ee the following sums:
(a) An smount su~cient to provide tfie holder hereof with fnnds to pay tbe next mortgagee
inaurance premium if thie inatruraent and the note secured hereby are inaured, or a monthiy charge
(in lieu oi a mortgag~e inaurance premium) if they are held by tLe Federal Housing Commiasioner.
as follows : -
(t) Ii urd so bng ss ssid note of ev~ dste sad t~his instrnment are" insnred or sre ninsared aader tbs
prunisions ot the Nationsi $onaina Aet, an aawunt su~eira?t to aocumnlate ia the hands oi tbe MWer
oae (1) month rior to ita due d~te the annual awrtgaas iawnnoe premium, in ordcr to provide anch' .
e
holder with to pa ~neh pi+emiwn to t~he Fedenl Eoasing Coa~mis~ioner pnrsaaut to ffie N~?tional ~
Hovsiag Aet, as aa~e~ed, a,nd sppliaabls Re~lations t6ereunder; or
(u) Ii and io bas as said note of evea dste u~d tlw instinme~t are heW tbe Federal Howing Commf~- _
~ ~ioner. a monthly (in lien oi s mortgaas inwranos preaniua~ w~ieh shsil be ia an amoant
n~ote oompated wiftbout taking into se~
nnt d
rdin~qae~naei ots prapay~m~ntststsndina b~lanoe dus on tbe
- (b) A wm equal to the ground rents. if any. ne~ct dnc. plna tbe premiuma that will next beeosne
taucea snd~assesamen~ts
ne~ct
dne on the mortgaged~p
roperty
(sll ~
t
nnated by t~he
mo~g~ag~j ples~s '
all swns already p~id therefor divided by t6e number. of manths to etapse before one montt? prior
t~ the dste when such gmnnd renta, premiums, tauea, and sssessments will become delinquent, such
snms to be held by mortga,~ee in trnat to p~ay aaid ~round renta, premiums, t~xes. aad apecial assess-
me~nta; and
. (c) AU paymenta mentioned in the taro preceding subsections oi this puagraph and all pqy-
a~nts to be made under the note secwred hereby shatl be added tog+ether and the te amount
~ ~ thereoi shsli be p~aid by the nwrtgagar each month iu a aingle p~yment to be ap
'P~ the mort-
~Agee to the iollowing itema in tbe order aet iorth :
. t1) P.~~a ~
o~i
m~otrtea~a inmranet~ preflniu~m?. as t~
~~y$be~~ Coa~oner. or nwathl~
(n ~renb. taYea. as~ea~menf~. flre. snd oWer liasard inanranee piaa4iwns;
(tn nterest on the aots seeured hereby; and
(tv amostiutioe~ oi tbs prL~eipal of ~aid note.
. Any deflciency In the ~ount oi auch aggregate monthly ~ayment shall, nnleas made g~ood by the
mort~s~or prior to the due date of the next such pa~rment~ oonst~tute an event o~ dei~wlt uader this mort-
~a~e. • T6e mort~ may ~wllect a"4te charge' not w exoeed two cents (2~) for each dollar (=i o!
e~eh p~yaa~ent more than Sfteea (i6) dayra in srresra to oover the extra espenae involved in hand~in~
: deli~rqaatt p~syments.
; S. Thst i! the toW of the payments m~de by the mortgxgor under (b) of pasaarnDh 2 preceding aha11
er~ceed the sunount o! p~ayments actuslly made by the mortgagee, for ~nd r~mts. taxes snd assea~ments ~
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