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Home My WebLink About1914 f ~ • . , , . . ~ FOIt VnLVB RgcBavID. the underaigned promise(a) to pay t~ . - ATICO FINANCLIL OORPORATION , a oorporation orgauized and exiaLing under the tawa of Delat~are ~ or order. the principal aum of ' S ixteen thous and , eight hundred attd No/y.00 -------------------Dollara (=16,800.00 . )~with intereat irom date at the rate of give -otte-quarter per centum ( 5~ 96) per annum on the unpaid balanoe until paid. The aaid principal and interest shall be payable at e o~ce of ATICO FI ~N nNC IAL ~0 i 1; . Fl M am or id a ~ or at such other place as the holder may designate in writing. in nionth~y mgtallmenta oi N.inetq tao end 90/100 ~11~ 92 . 90 commencing on the flrat day oi Jutte , 29 64 , and . on the flrat day of each month thereafter until the principat and intereat are faUy paid, exoept that the flnal payment of the entire indebtedness evidenoed hereby. i# not aooner pa~d, shall be dus and payable on the . ficst ci~y of May .19 94. . . If default be made in the payment of any inatal~ment under this note and i~ aucb default is not made good prior to the due date of the next auch installment, the entire principa~ sum and accrued interest ahall at once become due and payable without notice at the option of the holder of thia note. Failure to exercise this option ~thall not conatitute a waiver of the right to exet+cise the satne ~n the event of any subsequent defaulk In the event af default in the payment of this note, snd if the same ia collected by an attorney at law~ the undersigned hereby agree (s) to pay all casta of oollection, includin~ a reasonable attorney's fee. ~ Presentment, pmte$t, aad notioe ara hereby wa~ved. (State Documentary Stamps ~F~L;~.,,?_ Loi CSEALI aff ixed to or£ginal note El io J. I.oi and cancelled.) ~ g~ yTOBt! T.es~~ GQ~'.AT~ Jene Loi And ahaII dnly, pmmptly, snd inl~y pertorm, diacharg+e, execute, effect, oomplete, and comply with and abide by each and every the stipulationa, agreements. condit3ons, and covenaats o# aaid promissory note and of thia mortgage, then thia mortgag~e and the estate hereby created ahall cease and be nult and void. And the mortgagor further oovenanta aa follov~~a: ~ 1. That he w~l p~yy the indebtedness. aa hereinbefor~ provided. Priviteg~e i$ reserved to p~ay the debt in whole, or in an amount equal to one or more mont,~ily payinents oa the princigal that are next dne on the note, on the tirat day of any month prior to maturity : Pmvided, however, that written notice of an intention to exerciae such privilege ia given at least thirty (30) days prior to prepayment; and, pmvided further, that in the event the debt ia paid in full prior to maturity and at that tin?e it is insur~ed under the prnvisions of the Natianal Housing Act, he will pay to the mortgag~ee an adjusted premium one per centum (1 ~6 ) of the original principal amount thereof, except that in no event shall the ad~ted premium exceed the g~ggregate amount of premium charges which would have been payable if the mort- SaS~e had continued to be inaured until maturitr; such psyment to be applied by the mortgagee upon its obligation to the Federal Housing Commissioner on aocount of mortgage insurance. 2. That, in order more fully to pmtect thc security of this wortgage, the mortgagor, together with, and iri addi~on to, the monthly payments under the terms of the note secured hereby, on the first day of . each month until the said note is fuUy p$id. will pay to the mortgag~ee the following sums; . (a) An amount sufficient to pmvide the holder hereoY with ftmda to pay the next mortgag~e insurance premium if this inatrument and the note secured hereby are insnred. or a monthiy charg~e (in lieu of a mortgag+e insurance premium) ~f they are held by the Federnl Housing Commissioner, as follows: (z) If and ao long as said note of ev~ dste and t2~is instrament ua insnred or sre reinsnred under the proviaions of the Nationsl 8onsing Aet, an ~aionnt su~eient ta ucumntate in the hsnda ot the hokler one (1 j month prior to its dne date the annual mortgag~e insuranoe premium~ in order to provide sncb holder with fnnds to psy sneh premiwn to the Fedenl Honsing Commissioner pnrsuant to the Nattonal Honsing Act, as amended, and spplieabla Re~ulations thereunder; or (n) If snd ao long aa aaid note oi eve.m date and this ~natrama~t are held by the Federal 8ovsing Commis- eioner. a monthly eharg~e (in iien of s nartgage insnranoe preminm) w}iieh ahall be in an amonnt equal to one-tNrelfth oi one-hslf ( ~fe ) pcr eentum oi the averag~e outstanding balance due on the ~ _ note compnted without lakina into aoconnt ddin+queneies or pnpayments; (b) A sum equal to the ground rents. if anq, neat dne, pIna the premiums that wili next become due and payable on policies of ![re and other hazard insuranee covering the mortgaged property, plua taxes and assessments next due on the mortgaged property (a11 as estimated by the mortgagee) less all sums already paid therefar divided by the number of montha to elapse before one month prior to the date when such ground rents, premiuma, taxes, and assessments wiU become delinquent, such suma to be held by mortgagee in trust to pay said ground rents, premiums, taaces, and special asaess. ~ ments; and (c) All paymenta mentioned in the two preceding subaectiona of thia paragraph and all pay- ments to be made under the note secured herebq ahall be added together snd the a te amoant thereof shall be paid by the mortgagor each m~nth in a single pa3?ment to be appL~ the mor~ gagee to the follovving items ia the order set forth: (t) Premium chargra under the eantrart o! insnranoe with the F~deral8onsins Commiesioner, or aanthly ehsrge (in lien of mortgage insarance preminmj, as the c~se may be; (tt ~ronnd rents. taxes. ass~aments, flre, and other haurd Insvranoe premiams; {ru interest on the note secured hereby; snd ' (I1/ Stl'10lC(iitlOA Of ~ jlllACl~] Ot aRld aOtl. Any deficiency in the amount of auch aggregate monthly payment shatl, unleas made g~ood by the mor~tgagor prior to the due date of the next snch pa~?rnent, conatitute an event o# default under thia mort- gage. The martgagee maq cullect a"late charge' not to exoeed two centa (2~) for each dollar (~1) of each payment more than fiiteen (15) daya in arrears-to cover the extra expense involved in handling delinquent payments. - S. That if the total of the paymenta made by the mortgagor nnder (b) of paragraph 2 preceding ahall e~ceed the atnoant of vaymenta actually made by the mortgagee, for ground renta. taxea and aasessmenta •G~: . ~ . ~ , 8~- ~~3 ~ - _ _ ~