HomeMy WebLinkAbout0250 , . . • ~ . , ' 1
~ ~ ~bi ~V~L~]i ~Vi'Dr ~A 111Wl~'O~dO~ ~ • - . ~ . . . , ' , . ~
• ' . •
'/;niViiL~00~4~ W~ W iAiLii A• r " . . .
~WI~1$'1'RI2T~ Qt 1~iahlr~ r~l~ ~bs ~'i. ~ ~ 'Pl~dOri1. H01~3~Ig .
~:::~::~:~sioner~ h3a succeaaors and aaa3gas. .
pT ~y~p~~~q or order. the porincip~i sam os
• ~7iA 1[1V~~ N~ ~i~~Y FiO i ~ • • . w ~ w • • ~ ~ s • • • Doll~urs (ib,95o• W ~ t ~ .
intere~et irom data ~t the rs~ts at ti~e and one-qu4rter pe~c oentnm (5} 96) pe~' annum oa th+e ~
unpsid balanoe until pa~td. The aaid prlncipsl and inteacest a1~u?U be pay~bte st the o~e o~deral
Houaiqg A~ainiatrat?ia1 in T~fashingtrooa~ D. C. , ar at anch oth~ pl~oe u the
_ holder may desigi~ate, in wrltin~ in nwnt6~y installments af FORTY ONS A1~TD ~0/100
~ _ ~ _ _ _ _ _ _ . _ _ _ N _ ~ Do~ (i41.To oommenc.in~t on tho ltirrat •
d~~y of JON~ ,19 61~ , and on th~e flrat day af each month therea.fter nntil the prindpul
send intereet ~re fullY P~sia, ~oePt thut the &ial p~yment of the enttre indebtednees evidonoed her~y, if nqt
aooner paid, s~aU be due and ~ayable on the 8rat c~ay of . NAY ,18 89 • ~ ~
Ii defanit be made in the payment oi aqq installment nnder this ao and if auch default is not made -
S~oa1 Prior bo the due date of the neat euch instaUment, the eatire princip~ sam and ~rued intex~e~t ahall ~
~ At onoe beoame :~e and payable without notice at the option of the holder oi thia aote. Failure to ezercise ~
tbia o n ahall not oons~itute s waiver of the~i~ht to e~cerciee the same in the event of ~ny subaeqnent ;
. def ~ In the event af detault in the pa3?ment of this note, and if the same is coUected by an attorne~r at ~
Lw, the nndersigaed herebY agree to pay all oosts o! collect~on. incladia~ a r~eaeonable attorne~r'e iee.
Al1 parti~ to this note, whether princi~1, 8nrety. gvarantor, ar endoraer. ht~re~by wsive pr~esent~neut
for p~yment, den~and, Pro~,? notioe oi pmfi~, and notioe of dishonor. . . . :
' 3igned s~ad ~ealed thia day oi APRII. ,19
_ _ [oo~~r~o~sra asur.] - ~ ~tSRAL DFVSIrOPl~RN'r ooR~Q~~___,_
" Attest By a~ Jamea L. Rankin~ Freaident ,
~ e -H::: HYL~s::E'3nafict~l iae _ Preaideat & . • .
; . And ehall dn~,~~PUY, ~~~P~~, diec~~rB'e~ eooe~ate, efl'e~t, a~mPlete; snd comp~y with
` snd abide by ~ch an every the sti~p as, agreements, oondittons„ snd oov~enant~ os satd pxe+o~is~ory
~ n+o~e and o~ this mortgag~ tbia mortg~g~e and the estate heraby created s~hall ce~~e snd b auD #ad
- v~oid. . . -
And the mortgagor iarther oovenants as lollows: - `
1. That it vrill p~y the indebtedness, as hereinbetore pr~vided. Frivile~e is researved bo p~y ths ~
debt in who~le, or in an amonnt equal to one or more mont6ly pa~lrmenta on th~a prlnc~ipal tbst are ne~ dne :
on the note, on the first day of any month prlor to mahul~y: Provided, howe~rer, tbat written notice ai an
' intention to eserci~e suchpr~
vileg+e is glven at least thirtY days Prior to Pl'e~ymesnt: and, F1'avided -
fm~ther, tbat in the ev~t the debt is paid in fnll prior to matnrity and st that time it is inanred und~ar~
~ ~ the pmvisians o! the National Housiag Act, it w~l p~y to the nior~g~g~ee an ad,juated prenni~m char~+e o! -
one per ceatum (196 ) of the originsl prinr.~pul smount thereot, ezoepL that3n no e~vent shall the ac~usted ~
~ : pre~inm eaceed thea~r~a
ts umount o! preminm charged which wonld have beea payable if the mort-
gsge had oontinned to be insnx~ed until maturity; ancli raymeat to be sppIied by the mort,~gee apou its ~
obli$atio~ to the Fed~rral Hon~ing ~ommisaioner on aooount of mortga$e inanranc~ _ _
. ~ 8 Thstz in orde~r mora fiilly to protect the secadty o! this marts~e, the n~oefi~a~ort to~ethar wI .
; and in add{t~o~n to, the menthly aymenta nnder the terms at t6e note sect~+ed hereby, oa the Srat dq~ .
esch mo~th ~mtil the sa~i nots is iuUy paid, w~l p~y to the n~ortga,~ee ths' iolbwia~ sams: . -
(s) An amount snfficient to provlde t~he holder h~erea~ wtth imtds to p~y ttre nest mort~ge . -
insnranoe premium i! this instrument and the note eecured hereb~ are inenred, or a mont6~r charg~e
` ~ (in lieu oi s mortgag~e insuranoe premiam) it titey are l~ by dre Fe~et~l Housiaa C~ias~oner, ~
; ,~s ratow~ : . . .
! (t) It snd ~o lo~ as aaia not~ ot e~ dste and lbfa instrun~e~~ ar~ iswred ~ ar~ r~d anda~ tDa
i protisbn~ of tb~ Natioasl Honsint Ad, sn amount s~e~eL t~ a~aarm~lste in tlw b+a~dr a[ t~hs boldaz ' .
; . ooe (1) moa~th prbr to its dae date tM annaal aws~a~ io~oe~anosp~
em, in o~+3sr to~~, ~
boWer with innd~ to pa saeh yremiam ~o ths FederslSw~dns C~aoe~~io~r pataw~nt to ~ Natioafii -
8
Aet, as a~. snd applkabls~~~~ t~erumd~r~or t~ Fid~ral8owin~ Ooeemis-
: ~ (a) Ii sed~ as said uote oi evea ds~e and in~troment are ~
. doner. a nwa~ (in lia? oi a aart~a~e i~uasaise~ p:+eeoim~~ wLieh ahn11 b~ ie aa ~uonnt
: eqaal tn ~?a-t~ftk~j a~ ~s-half ('K ) Per ee~lm~ a~ tiw s~rers,~s o~ b~1~ dw aa ~ ~ j
• aob aa~mp~tt+ed withoat W3ns into aooount delinqusodM aa~ gs~epqs~eaar; ~ ' 1
{b A wm eqwl to t6e ~ramd renta. if ~a,~r. ~ct dne. ~ns tha prmninms that vrDl next beoonrs f~;~
due ~~y~
Ie on policies oi flre and other hasard insuranoe eeve~rIn~ the mort~a~ed F~P~Y ~l~s ~ =1
tues ~l -i~~ts nezt due on the mortta~ed (aU as estimsted bY th~ mortta,~ee~ iess
aII anms ah~eady p~id th~+efor dtviddd by the nwm~~e
_~manths to elspse before
one mont~? prlor
to the dste when such ~ronnd re~?ts~ Pre~niuma, taxes. and asaes~nneats w~l beoome deliaqne~k such
, ~ sums to be h~eld by mortga~ee ia truat to Pa,Y s~ ~e+ound reats, Pi'emiums. tsses.~ aud sPecLl aa~eea- _
. . meats; snd - ~ .
. {ej M ts mentioned in tbe two preoedins snbsa~ttons oi th~ psra,~r~ph snd sU p~ !
n
° mmi~s to be unda~ the note secnred hereby shaU be added .tosethaz and t~e ~sts ataaont -
the~+eot sh:D be paid by the nartr~ar e~ch month in a~ piyrme~t to be ~yp~p~~ed b7 t6e ~
~ee to the toUowint items in the orde~ aet lorth:
• (i)~ premlma e~arps ~ader tlw eoatraet ~ iaa~ra~e~ ~ItA tif Federat Haa~i~ Qoaairdow~r, oe no~. .
' ~(f~ 1Na a~ aartaa~t iarnraeee psemima), t~ tbe ew ma~ be; ~
. " (a s`roondraata, tues. aaMaa4eata, lire. ae~d ~
l~mrd ia~e~ pre~eiw~ss
m b t~re~! as tiw aois a~nred Dereb~r; aud w
~ ~n ~t~os at ti~s p~dpsi ot.dd - ~ ~ ~ . ~
Aa~ ds~ ixl t~re amouDt oi au~h ag~re~te montbl7 ahsll~ uakn m~e ~+aod b! thb
e~o~ p~ior to the dne dste o! the ne~~t anch t, tnte sn eveat at ddsnlt aader th4 mo:b.
`s~e.~
- T6s mortp~ee ms~ colled a"late not ta exoeed twro d~ab ior a~eh dollar (~l) ot
Meh ~ more thsn l~iteen i16) d~a in at'raa» ~ oo~ve~r the eactra aocpe~s invohred in. baadlint ~ ;
~ P~ . • .
iR. T6~t 3# the total af tbe p~yu~anta msde by tbe mort~s~or uncier (b~ .psr~raph 8 preoedin~ ah~il '
.~c~ed the a~a4onnt oi p~neats actwljy nwle bjr the mart~a~ee„[or~g{~o~ treab. tsx~ and aa~e~meats
; and i~oranos p~+emfmos. as d?e ca~e may sn~h eocoer shall be aredited tn? the m~orl~es e~ wb~eqv~en! ~
~me~b t~ be m~wk b~ tbe mo~r.~ howev~r. th~e monthl,~! p~rn~euts made .b~?, t6! mot~a~+cc _
. . ,