HomeMy WebLinkAbout0256 ~ , . . . ' •
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- ~ ViLtm R1c 1[1?~ ~ o~d~ l3~RAb DBSBLOPl~BN? O~W'ORI1?ION~
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p~ (a) to py? ~o PHIISP N: BROWN3TSIN~ ot ~ Waahington~ D. C. ~ as Flederal Aouaing .
' i C aic~ar~ his auaceasoss and aaaigna.• .
` ~ioit~s3~aa~tt ~TM : . . ~ . o~ order. the Pripdpal wm oi
T~ ~0~ 0~ i1YlW~~ ~~x ~ ~ ~ ~ ~ • w ~ w • ~ . w • ~ W~+~i 1~~~~~~ } ~ •
~]1~ ~ tlit8 ~i. ~ ritA 0~ ='j.~ 8Z1~ C~18~Qt181''t8t' T1~' 0lQ~ (1~~ I!~' tDIIi~ OII ~
~ nnpaid bslanoe nntil p~id. The said prlndpat s ad intarest sha~l bs pyrabl~ at the o~oe ai Federal
Hous ing Ada~ini~trat~ion in ~Iaabington~ D. C. ~ . a~r at such otLer pl~a as t}~
holder nµ~r dedi4?iuta i~wrrit[n~ ia manthly ia.~taUments of 3IXT? AND 90/100 M• w~•• _
~ i.~~ •Q/~ ~,~r__~
~ ~ ~ w ~ ~ ~ ~ ~ ~ r ~ ~ . • ~ • ~ ~ ~ r ~ ~ ~1fN~i C= ~~~v ~1 ~YW6~Gi~ ~ WV i~iii ~
d~? oi ~ .19 ~t , and on th e Arat day of eacl~ month there~?iter nntil the prtncipsl .
and interest aire fi~i • psid, e~wept tbat the $nsl p~yment oi the entira indebtedn~aa a~vid~oed hereby. i! not
. sooner pa~d, ahall be due and pqyablo on t6e Rrat day of ~ ~ ,19 89 .
I~ default be made in tlie ~yment ot any in:tallment uuder tl~is aot~; and i! anch detanlt is not~niade
,~~ood Prior to the due d~ts af the n~t ~wch iaatall nenL, the entire ~.rlnciFsl anm and a~ocrued iAter~t shs~
at oace beoome due a nd pa~y:ibk without aotice ~t, the option of the holde~c of tbis n~ote. F~31ure ~ e~cceniss
this option shaU not oQnstitute~s v?aiver c~ the r t to exercise t~18 aame in• t6e event oi ayr aub~eqne~at '
defstilt In the ev~r~t of defaqlt in the p~yment c~this and il' the aams ia aolleated by an sttorney a! .
law~ the undersI~ued her~bY +ta'rea (s~ to p~? aU costs oi~co
ection~ iacindin~ ~ r~~onabk at~orae~'a fee.:
Alt p~rNNes to t~ L note. whethar princi .~ure~Y. ~uaranbor, or ~d~rs~r, ha~bj? waivs ps+e~entm~t
soar r~nen~. a~nsn~1, rroteal, no~ioe c2 pra~. sna n9otiae of aiehoao~r. .
. Si~ned and se~l•~d tbis ~ d~y oi lIPRIL' ' ~ ~ 18.6lt • . . . ,
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, [CO~PO~A'1'f $EAL] ~ . ~ ~F~L ~SID1~~11'P (nRPAA~7'Tj~[,~_ ~ .
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a/JAI~3 L. RANl~i~ Presi~t -
/ a ~TILT.TJIM H. ~'iI~S~ Finaacial Vice Preaident & sYeas. • " . .
- A~ ahs11 dn1Y. P~PU7. ~d Pe~'lorny diaelzarge, e~ecab~ e~eck oompte~ a~ oompi~? with
- . and abide by ~h ~d eveiy the p n~ s, agreements, oo~tditiatia, and aot?~e~anb ad uidprom ry
na~~snd o~f this mar t
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. • And the mort$agor tarthe~r oavenants as follows: . ~ . . ~ • • '
1. Tfsat it iaill ;~r the indebtsdness, as hereinbefore proovicled. P'rivile~e ia re~erved t~ p~y'tate
debt in whole. or in :m smount equat to one or more monthly p~yn~enb on t~ prtndp~tl tbst ~+e ne~ct due
on the note, on the ~ st d$y ui say month prior tt~ msturity; Proviaed, how~nrer, that wrltben notice of an -
_ intentioa to ezercise anch privilege is givm at l~:ast thirty (30) days P~3Or m e~p~y~n t; u~. Pro~?ided ~
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~ one per eeutnm ~(19~ ) o! the original priacipsi :unount thereaf, ecoep! thst in no e~vent sh~ll the ad,~nsbed .
preminm e
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gage had eontinned ~o be insured nntil mstdrity;.snch pa,yment t~~ bs applied by the mortg~gee npon its . •
_ oWigatioa to the Fe~ israt Housing Comnnissioner on aceonnt of m~stg~ge insnrAae~
~ 8 Thst, in order awre f~r to pr+ot~ct the ::ecurity of this mort,~s,~e, the mort~r, 'og.~Gher Mrit~,
. and in add.it~on to, tbe mentbly ta nnder the terms oi the note seau+ed ber~by. on ti~e ~ret d~r o~t .
~ e~h mo~th un~l the aaid note is~paid. wiU puy to tu~ mortga~es the foqowi~ swnsz
•(a) An ~nw~unt sufl3cient to provlde the holder hereof with innds-to psy *.ha •,.,.xt m~:r•.asg~e ~
inwrsnoe premi ~n ii this instrunne~nt and the note seaired" hereby ac+e iASUrpd. oc a r: aaQhi~r char~e
_ (in Iicw of s mcrtg~g~e insurinee preminm) i! they ara held by the Federal H~usin~ Cn~ miss~oner, •
. ~ io~lo~vs: ' • ~ - .
. -(t) I! a.-~d ~o loat ~u s~id not~ ot e~r~ date and tbis ~nn~! ars inwr~d oe an r~nswdd ~uder tM '
- p~ o~risio~s ot tbe Nation~l Honsib~- Aet, an su~oant wAk~ut to ac+eu~anlste i~ t~a bands ot the I~oMsr
or e(i) moatL prbr to its due dats tbe annual aa~ insurano~ preatdaA, tn onkr fA~o~r aueb .
lK ldee with fuq~ top~?~r w~eh prem:wn to the Feilval H~wsin~ Com~aiafau~r pntswnt to tbe l~~atJonat =
. . ~ ~ N•~~ Aet. !s amerwed. ud ap •tksbls Re~ubtions ~heren~nder~¢ or u~ .
. (u) it aod wlon~ ss said aot~ o! eveo ~ata aad th~s iasteun~art se~e held b~r tM~ed~ral H~Vai~ Commia -
s3~.ner, a a~onthly ehsc~ (in tial a mortK~~e in~urano~ premjuw~) w shsU bs iA an aweYwt
• ' ar us1 b onttweltth (!4s) of one-h ~It ) per oentnm ot the av~sus outayodia~ ba :.ue~ dw ou tM • ~
. rN te ~omputed ~ri~t takin~ into aceount deliaqueAei ~ or Pt~apaymqtts:
' ~ ~(b) A sum :~quul t~o the graund reuts. if ~ny. next due, pliu the p:+emiwns thst w~}, atxt be~oottr~- ~ ~
' - dae sad~y
at,le ~n paltcIes af flrs and other hsezard inaurance c~verina the ~pnort~aged iuupert~r. piw .
_ ~es and ssseas,neAts next due on the mort;~ed property (nl1 ~ esti~~ed by the murt~agee) 1~ ~
- all snnns siready paid tlur~efor divided by tt~e number ot months to dapse be~ore one maaih prior ~
_ to the dste whe~~ such,~~ r+ents, premii~nns~ tsx~. urd a€seasmeats w~! beoome de:iaquw~ sneh
st~ms to be held by nxu~~+ee in tirw! to P~y ss~d ~?round:'e~',h,~ p~aiwms. tsues, ~nd ~pccisl as~- : f
meats, s~d ' - - . ~ . :
. ~ (a) Allpsy•aneats me~t3oaed !n the two precedin~ snbsections ot this , i
_ p~tr~rsPh ind xi1 popF , ~ ~
ma
. meats to be mad~~ ~nd~t the noie secared ber~y shaU be add~ed t~ether sud ths amount ;
tha+eot sb~U be pa~id by the nart~or eact? month in a sing~k piy?meat to be 'ed tha mozt- ~
- sa,~ee t~o tba td!or~a~ it~rns in_ t~e o~rder s~t forth: - .
. (t) Pri•aiam ebar~e~.~~dnr tb~ eo~trae~ ot i~urana ~ t1~ Federsl 8a~iai Ca~isdo~ce. ~ no~tl~ -
' d ar~s (ia tiw at aort~e iesuranee pradum). a~ tM aM ~oa~ be; . "
(~t ~ra~ nd r~w~r ta~cer. a~ai?eats, An•. s~at otber~I~aaana inw~rs~t prdmiri • . ,~"'j
Y (JlI~ Iqttf~ 011 !O~ HOR~ ~!!Y~ ~1ltwif~?; st~ ' • , ~r
- ~n~ iRM l~R~ O~ ~N ~1R~pt~ 0~ q1t~ 1.OlO. .
- Aiqr deliciency i;e the amouot oi sncb s88~ Snte monthi~r p~~nt s1~UR unlas a+a~d~ rood b~r th~. ~..~t .
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~a,~. mortga~e e m?a~? eoUect ,a "lata chary. cat to ezceeii two oeab t~) for ~d? ciallar (
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That ii tlse ~at al ot tbe pqymeota made by rhe enorE~agor nn 3~r (b) o[ piura~?Ph t ProcediAt shs11 .
. , ex~oeed tbs aaAOU»~ 4f _~nc~py_~a1~j?.n~de b;, the mortAage~ tor se+c~nd~reats~. t~uces ~i as~e~ts.._;~....
snd iawrana paretnioms, as the dre m~r be~ _wch exoee~ sh~l1 be p~edited b7? tb~ mo~rt~sde ua ~ubt~qn~at o~ ~
- psyn~ts to bt msde b0? !be ~ort,~or. ji, hcwevq~, the maatlJ~ pyrmmts msd~ br,tM ~
~ ' • - . . ~ . . . . . . . • . . s.