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P'~t VnLUS R~c~[vs~. the widersi~aed promiae(s) to pay to : .
ATICO FINAZiCIAL CORPOIiATI0I~1 . • .
DelaWara ' ~ 0°~°~~ ~d existing under
the l~ws ai , or order. the princlpal ausn oi Nitteteen thous and
asvam hu~drsd attid No/~L00 ---------------------Doll~rs t=19,700.00 ~vith
inter~ct from date at the rate oi ~ve•one-qwrter per an~um ( S~ gb) per
~u?num on the uapaid b~lanoe until paid The a.aid princip~l and inter~t shall be payable at the otflce of
~ ATIC~~O M~~C~ALF~OIi~QR~!?TION ~~~t such other pla as the '
ioria
holder may daignate in writing, in nwnthly installmenta oi Oae ~tvnd red e iSht a nd 94 00
• Dollura 1C8 . 94 oo~amencing on the flrat d~,y oi June .,1964 , and
on the firat day of each month thereafter until the principsl and interest are fully psid. except that the ftnal
payment oi the entire indebtedneas evidenoed hereby. if not aooner paid, ahall be dne ~nd piU?able on the
' fii~t day af May .1994.
If def~wlt be made ia the payment oi installment under this note, and ii aueh default is not made
a^ood prior to tfie due dute of the next uuch inatallmeat, the entire princip~l aum snd uocrued interest shall .
st oncc beoome due snd psyable without qotice at the option oi the holder oi this note. Failure to exercise
this option shall not iwnstitute a waiver oi the ri~ht to exerciee the aanae in the event of any subsequent
defaulk In the event at default ~ the p~ayment oi this note. and if the same ia oollected by an attorney ~
at lsw~ the underaigned hereby ~gree (s) to p~sy aU costs oi collection, including a reasonable attorney's fee.
~ Preaentmenk prot~at, and ~tice ae+e hereby wsived. - L
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(State Documentary Stampa s~._.F~~.s~~ck R. Qe~litn~, Jr. (SFAL) ~
af f ixed to original note F:'~dei'ick R. Ge~l ing, Jr. 4
and cencelled . ) ~
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e%..,~li~..Zi.. ~aliu~t (SFAL) j.
Jut1C IrI. Ge~l ~Ag -
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And shsil du1Y. P~~y
.~~Y P~o~. discbsrge
; execnte, eRect, oompkte, and comply ~vith and
. ab3de by each snd every tl?e st~palations, a~t~eements. oonditions, snd oovenat?ta of ssid promisaory note
and of this mortgage. thea this mortgage and the eatate hereby created sh~U cease and be null and void.
And the mortgag~or inrther oovenants as follows: -
1. Tbat he wiII p~qy the indebtedness. as hereinbefore provlded. Privileg~e is reaerved to pay the '
debt in whole, or in an smount eqnal to one or more monthly pa,ymenta on the principai that are next due ~
on the note, on the first dsy of aAy month prior to maturity: Provided, however. th~t written notice of an
intention to exercise auch privilege ~s given at least thirty (30) dsys prlor to prepayment; and. provided
further. t~rat in the event the debt ia paid in full prior to maturlty and ut that time it is insured under ;
the proviaions of the Nation~l Housing Ac~ he will paq to the mortga,g~ee an adjuated premium charSe of
one per centnm (ig6) of the original principal amouat thereof, except that in no event shall the adjusted
premium exceed the aggregate amount of premiumcharges which would have been payable if the mort-
gage had continued to be inaured until maturity ; sach paymept ~o be applied by the mortgagee upon its
obligation tQ the Federal Housing Commisaioner on account of tnortgag~e insuranoe.
2 Tha in order more fuU to rotect thc security of thia mortgage, the mortgagor, together with,
and in addition to. the ment6ly paymenta under the terms oi the note secured hereby. on the Rrst day of i:
each month nntil the said note ia fully paid, will pay to the mortgagee t6e ioUowiag sums:
(a) An amount su~cient to provide the holder hereof with iunds to pay the neut mortgag+e '
~ insurance premium if ttiia instrument and the note secured hereby are insured, or a monthly charg~e
(in lieu of a mortgag~e inaur~?ce premium) if they are held by the Federal Housin8 Commissioner.
aa follows : ~ '
If and so lons as ~sid note oi eves dste and thi~ instivment are jnsared or sre reinsured ander the ;
~ proriaions of t1~e National Aoasing Aet~ an amonnt suflleient to aceumnlate in the hsnds oi the holder ~
one (i) month pnor to ib dne date the ~nnwl mortas~s insunuoe Preaninm, in order to provide such
6older with fnnd~ to pay sueh pe+emium bo the Federat Hondns Commiasioner pnrwant to the National
Hoosing Aet, as ama~ded. and applicaWa Re~ulstlons tberevnder• or
k (n) Ii and so bns as ssid note oi e~rea dats and thu instrument are be~d b~ tl~e Federai Housing Commia- '
~ doner. a monthly~ chae~s~e (in Uen ot a mortgage in~unaas prmiinn) wbieh shsll be iA an snwnnt
eqnal to one-t~rdith (~fis) oi on~half ( 34 ) per ceat~ oi tLe s~erase ont~tanding balsnce due on the
note o~?pated .ritbout taking into aaount ddinqae.ades or Prep?Ymeats: .
(6) A sum equal to the ground renta, i! an,y. next due, plua the premiums that will next becorae
~ dne and payable on policies of fir~e and oth~r hazard insprance oovering the mortgaged property, plus
taxes and aseesaments next due on the mortgaged property (all aa estimsted by the mortgagee) lesa
€ all smns already paid therefor divided by the number oi months to elapee before one month prior
to the date when snch ground renta, premiums, taxes, and assessments wIU beoome delinquent~ such
aams to be held by mortgagee in truat to paq aaid ground rents. premiums, taxea. and special assess-
ments; and
(e) All psyments mentioned in the two pr~eceding subeect~ona of thia psragraph and all pay-
menta to be made under the note sec~red hereby shaq be added tog~ether and the aggregate anaount
, ~ thet+eof shall be p$id by ttie mortgagor each month in s single p~ayment to be applied by the mor~
; gagee to the following items in t6e order set forth :
~ (t) Pre~uinm eharges under the aoatraet ot inwranoe with ths Fedenl Hondna Conimisdones, or monthly
- el~rg~s (in Ueu oi mortaaae insnran~e presnium). as tbe aue msr be:
(u) ~round reats. tases. a~nt~„ ~re. and other basard insnranoe premiom~;
(m) ~ntered oa tJ~e note ieenred hereb~; snd ,
~m) aaartisstioa of the prineipsl oi asid'aote.
~ Any deticiency in the amount of such aggreSate monthly psyment shall. tmless made g~ood by the
~ ' mo~~,~or prior to the dne date of the next anch pa}?ment, oonahtute an event oi default under thia mor~
~ -~'he mortgagee may a~llect a"late, char8e' not to e~cceed two centa for each dallar (;i) af
~ ~ pqyment more than tiitsea (ib) daya in srreara to cover the extra expense involved in handling
e delinqnent payments.
~ : 3. That ii the total of the payments msde by themortgagor nnder (b) oi paragraph 2 preceding shall
: e~coeed the amount of psymenta actually made by the mortgagee, ior Rround rents. taxea and assesaments
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