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Home My WebLink About2171 , . , ' . i PbR VALUS A~c81vED. the underai~aed promisa (s) to py~ to ATICO FTIZAt~iCIAL CORPORATIQId ~ • oorporstian or~anise~i ~1 euistin~ under the laws oi Delavare ~ or order. the priocipat awn o! Nins thoua and • ix ~unarea •Aa No/ioo nou,~ ti9,6oo.00 ).w~cn interest iro3n date at the nte oi Fii~e - one-quart~' P~' ~t~ ( 5~ `x') P~' ~ annum on the unpaid b~lanoe until psid The said princip~l ~wd interest aha?U be p~yable at the o~oe oi ~ ATICO iFINMA~~L~?I.1C~ or da~ . or at auch other pLce aa the 4 L holder may designate in writing. in nwnthly inataUments o! Fitty three and 09/100 Dollara (i 53. 09 on the ifrrst day o! April ~ 18 ~y . snd ~ on the firat day of ~ach month thereafter unt~l the principal utd interest are iully paid, e~coept that the fttul ~ payment o! the entire indebtednesa evidenoed hereby. if not aooner psid. shaU be due and p~ble on the ~ fti~st day oi ~nb .19 94. Ii default be made in the p~yment of any instaUment under thia note. and ii such def~ult is not made I rood prior to the due date oi the next such installment, the entire principal sum snd ~ocrued intereat ahall ; st onc:e beoome due and p~yable without no'oe at the option oi the holder of this note. Failure to exercise , t6ia option ahall not oonstitute a waiver oi the ri~ht to exercise the same in the event oi any subaequent defaul~ In the event of default in the p~ayment of th~a note, and ii the saume is oollected by an attorney ~ st Isw. the underaigned hereby agree (s) to p~ay all costs oi eollection, including s reasonable attorneY'a fee. ~ Preaentment, prot~t, And natioe are hereby waived. ~ I ~ CState Documentary Stamps 8.l w-~.~~~-e°` ~otts CSEALZ ' aff ixed to original note aad ~liiliam Knotts ~ caacelled.) . ' a,` Connfe Knotts ~ : ~ Conn~e Knotta ' . And shari dulY. P~~~. P~o~. ~i'S'e. ~P~ete, and oomply with snd ab~de by each aad ever~r e at~Pulatioas. ~greements. oonditions, snd ouvenants of said p ry not~ and oi thia mortga~e, then tlus mortg~ge and the eatate hereby created shall cease and be n~~ul~and void. And the mortgag+or iurther covenswta as ioUows: ~ 1: Thst he ~viU p~y the indebtednesa. as hereinbefore provided. Privile8~e ia resen?ed to P~Y tt?e debt in whole, or in an amount equal to one or more monthly pa~ymenta on t6e princip$i that are next due on the note, on the flrst day of any month prior to maturity: Provided. however. that written notice oi in intention to ezerciae auch privilege ia given at least thirty (30) daYs prior to pre t; and, provided inrther, that in the event the debt is paid in f~ill prior tq maturity and at that e it is inaured nnder the provisions of the National Housing Act, he wiU p~y to the mortgag~ee an adjuated premiun? cllarge ot one per centam (1 gb ) of the original principal amount thereoi. exoept th~t in no event ahall the adjust.ed premium exceed thea~gregate amount of prpmium charg~ea which would have been payable if the mor~ ~ag~e had continued to be insured until maturity ; atuh payment to be spplied by the mortgagee upoa ibs ~ obligation to the Federal Housing Commiasioner on axount of mortgag~e inauranoe. ' 2 That, in order more fully to pmtect the aecurity oi thia nwrtgage. the mortgagor, together with, f snd in addition to, the menthlypaym enta under the terms of the note secured hereby. on the ftrat day oi e~ch month untal the said note is fully paid, will puy to the mort~ag~ee the foUowing suma: ~ (a) An amount au~cient to provide the holder hereof with funda to gay the neat mortgsge inaurance premium if thia instrument and the nots aecnred hereby are insured, or a mont6ly charg~e . (in lieu oi a mortgage insurance pr~mium) if they are held by the Federal Houaing Commiasioner, ~ aa follows : ~ (t) I! and ~o long ~a ssid note oi ev~-date and tbis inst~vment sre insured or ars =einsared nnder t~e i prnvisions oi tbe National Honsina Aek an amount su~dent to aoenrmnlste ia tbe hands oi the bolder o~ (1) moath prior to ib dne date the snnnal mortgags insannoe pnminm. in order toprovWe sneh lalder with innds to psy sneb premium to t}ie Fedr.ral Honsin6 Commiadoner pnrwwnt to tl~e Nstional ~ H A~t. as anaeaded. and spplicabis Re~htions tLereander: or (u) Ii and~ as ssid note oi eva~ date s~ tlus indrament sre l~eld hy tbe Federal Hondna Commii- E ~ sioner. a monthly~c~~ar~e (in lien ot a mortg~e inwranos Pre~iu~) wh'ieh shall be in sn amonnt equal to m~e-t~relfti (~KS) oi one-hslt ( 34 ) Per eeat~ oi tbe sveraae outdaading balanoe due on the note eon?pnted witboat takins into aooount delinquendes or P~W7~~: f (b) A aum equsl to the ground rents. if any, nest dne, plna the preminms that will neat beoo~ne ; ~ dne ind pAyable on policiea oi tire and other hasard inanrance oovering the mortgaged prnperty, plus R + tues and aasessments next due on the mortea8'~ P~PertY (aU aa estimated by the mortgagee) less a11 sutns already p~aid therefor divided by the number. of months to elapee before one month prior . to the dste when such ground renta, premiums, taxes, and assessmenta wiU beoome delinquent, such • snms to be held by mortgagee in truat to p~y ssid ground rents. premiwna, taxes, snd special aasesa- • ~ menta; aad (c) AII pa~?ments mentioned in the ta?o preceding snbsections oi this paragrsph and aU pay- ' ments to be made under the note aecured hereby shall be added toQether and the te unount ~ thereoi shaIl be p~id by the mort~a~or each month in a single.p~ymeat to be ap 'p~ the mort- ~a,gee to the ioUowins ~tenns in tlre order set iorth : ~ ~ (i) Preminm el~sr~es nnder tbs eowtraet ot insarancs wlth tbs Federal Hondns Caamiisiones. or monthly (in lian a~ mortaa~s in~un~ ne~mium). as the aus ma~ be; ~ (~m n~oa t~he nd ~ r~iby;~at~d atber ~sard insuraaoe preminms: ~ (n~ amortissHoe of tbe prindpal of qW aote. F Any delfciency in the anwunt oi snch aggregste monthly ~yment shsU, unless made g~ood by the - tino prior to the dae date of the next snch ps~rmenk eonat~tute an event of default under thia mort- : no ~agor ~ ~a~e.r~ The morteaQee msY a,llect a"late chsrge not to e~coeed two cents for esch doliar (il~ o~ i e~ch p~nt more tban tiiteen (ib) dsya in arresrs to oovgr the extn espense involved in handlin~ ddinqneat p~,~?ments. . ~ 8. That ii tDe to~al of the psymenta made by themort~g~or nnder (b) oi psra~raph 2 prece~lin~ shall ~ esceed the anaunt oi wymenta sctually made by the mort~ag~ee, for ground rents. ta~ces snd asseasrnenb ~ . ~ ~ ~ i - b.R~ 82 217 ~ : ~ _ E OM~ ~ ~ . _ _ . ~ ~ ,~1~~