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Fo~t y~t.ua R~catvafl, the wrderei~ed promtsecs) to wU? to .
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L1~1ITB~D MORT~3A(388 S$RVICID1~i CORP. ' . ~ f
;
. a coi~poratioa or~nised ~nd exis uader 1
` the laws oi }he gt,ate of New York ~ or order, the prlncipal suan oi $leven ~ousand ~
- Fou ~dred Fifty and no/100 - - - - - Dollars (i 11, 450.00 • with
interest ~irom date at the rate oi Five and one-fourth per oentum ( 5~ q6) per
at~num on the unps~d balanoe until psid. The s~id princip~?1 ~?nd iaLerest ah~il be pt~yable ~t the offioe of
United M~ortgac~ee Servicing Corp., 3200 Pacific Avenue ~
~ holder A V3rqi.nia Sesch, Virgiu~ia , or ~t such other pla~oe as the ~
may deaignate in writiug. in moathly insWiments of 31xty Three and 32/100 ~
Dollara 63.32 oo~mmencing on the ltrat day of September ~ 19 64. ~nd
oa the first day of each month thereafter until the prlnc~pal and 3nter~eet are iuUy paid, e~ccept th~t the fln~al '
payment o! the entire indebtedneea evidenoed hereby, ii not aooner puid, shall be due ~nd pay~able on the '
fli~8t da,y of August ~ 19~ • '
Ii defdult be made in the pa~yment of atty installment under this note u~d ii suct~ def~ult is not mada i
good prior to the due date of the next such instaUment, the entire princip~ aum and s?ocrued intereat ahall - ~
st once beoome due aad payable without notice at the option of the holder oi ttiia note. F'~ilure to exercise . . i~
thia option st?all not constitute u waiver of the t to exer~cise the same in the event of any sub~equent
defaal~ In the event of default in the payment~thie note, and if the aanae ia collected by an attorney ,
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! Presentment, prntest, and notioe are hereby waived. • .
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~~~c • ` ~s/ Jahn W. Wilaon ~SEAL~ i
sraa~~Ri Docu~~= JO~T W. WILS~ ;
NOTE lWDHC~~~LREL~riVl[t. 8,~-S. ZiOLt~.B$ W~~~ RAI~...~~1~__.~
8 • IAUISS WILS~T ' ~ ~;Yi
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And shaU duly. Pron?p~y, and tnriy pertorny dlscharge, execnte. effect, canplete. and camply with ~nd +
` ~ abide by each and every t~?e s~tiipulationa. agreementa. conditions. and covenanta of said promias~or~ noto !
and of thi~s mortgage, thea t6~s
mortgag~e and the estate hereby created stiall cease and be null and void.
And the mortgagor inrther oovenanta as foltows : '
1. That he wfll pa~y the indebtedneas. aa hereinbefore provided. Privilege ts reserved - to pay the
debt ia whole, or in an amotuit eqnal to one or mors monthl,y p~ymenta on the principal that u~e neict due
o
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f any mon
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y: Prnvi d
e d, however. t
h at written notice of an : ~
intention to exercise such privilege is given at least thirty (30) dsys prior to prepayment; and, prnvided ~-i
further, that in the event the debt ia paid in full prior ta; maturity and at that time it is insur~d euider -
the prnvisions of the National Housing Act, he will pay to the mortga~gee an ad,juated premium chatg~e of
one per cenbun (1 gb j of the original principal amouat thereoi~ except that in no event shall the ad
justed
premium exceed the aggregute amount of premium chargea which would have beea p~yable if the mort-
SaSe had cwntinued to be insured uatit maturitr; suc4 payraent to be applied by the mortgagee upon its
obligation to the Federal Housing Commissioner on aa~ount of mortgage inauranoe.
2 That, in order more fully to protect the sec~city oi thia mortgage, the mortgagor, together with,
and in addition to. the manthly payments under the terms of the note secured herebq. on the first day o# !
,
each month until the said note is fully paid, wiq pay to the mortgagee the fotlowing suma;
' (a) An amount au~cient to prnvide the holder hereof vvitli funds to pay the neit moitgag+e
, insurance preminm if this instrument ~nd the note secured hereby are insured, or a monthly charge • ~
. (in lieu of a mortgag~e insurance premium) if they are held by t~e Fede~al $ousing Connmisaioner, `
~ . as follows : . j -
(i) Ii and ao long aa ssid note oi even date and this initsnnient sre insnred or ars rsinsared under tbe
pmvisions oi the Natienal Housing Aet, an anannt saA'irient to aeeumalste in t~e haads o! t,he bolder
• one (1) month prior to ib dne date the annwl mortgags ipwranoe pnminm, in order to provkk wch .
, holder r?ith innds to psy s~neh preminm to the Federal 8oasina Comuaissioner pnnuar?t to tLe National
Houa~n8 Act. aa aa~ded, and ~pplic~bls ~ilatious tbe~under; ~
(u) It and so long arssid note oi eop? date and instrnment sre bdd tbe Feder'al $onsing Commis- '
doner. s monthly_ ehsr_g~e (in tian of t mortgage insarat+ae pr~inm~ wliich shall be ia sn amoant
~ eqnal to one-teelfth (~K~) oi one-hsli ( 3i ) per eentom ot the avesage ontstanding b~lanoe dns on the
note oompnted wfthaut taking into ~eeonnt ddinquendes or pre~sY~b;
• - (b) A sum equal to the ground rents, if anq. next due. plus the preminms that vvill neat beoorme
. dne and payable on policies of fire and other hazard insurance covering the mortgaged property, piua
• tazes and asaeasrnenta next due on the mortgaged property (aU as estinnated by the mortgagee) lesa
~ all sunna slrendy paid therefor divided by the number. of montha to elapse before one month prior
t
o t
he d s
te w
hen s
u c
h groun
d ren t
a, premiuma, tsnes, and assessmenta will beoame delinquent, sach
. awna to be held by martgagee ia trust to pa,y aaid ground renta, premiums. tauea, and special aaeesa- -
ments; and
. .
. - (o) A.ll payments mentioned in t6e tN?o preceding sub~ectiona oi this paragraph and all pay-
ments to be made under the note secured hereby ahall be added tog~ether andr the te amonnt
thereoi ahaU be p~id by the mort oge
~agee to the following itema in the
~arrler~set
forth:~ a~8~ PaYm~t to be appL~ the mort-
(i) Pre~nm ebarges nnder tbe oo~tnet o! lnannaee with t]~e Federal Hoadua Caaamni~doner, or mm?tW~
clu?r~e (in.lien of mortg~ge inwran~ premiam)~ as the ca~e ma~ be;
- ~(~u ~rouad rauta,, taxa. a~aeats~ IIre, and otbei basard insoranoe pnrntam~;
interat on ths note aecured het'ebY: ~nd
(tv amortis~?tion oi the principal oi said note.
Aay deRciency iri the~smount of sncti aggregate monthly p~a
yment shall, nnlep made gno~d by the
ma r prior to the dae dute of.the.next such pa~?ment~ oonatitute ~w event oi default nnder t6ia mort~
w
mortgagee may cwllect a"late charge' not to exceed two centa (2~) for each dollsr (=1 0~
ea~ch puyment more than tfiteen (15j days in arrears to oover t6e extra espense invotved in Land~in,~ !
de4nqnent psytnents.
: 3. That i! the totat oi the paymenta rnade by the mortg~gor nnder (b) of paragr~tph 2 precedin~ ahsll ~ '
, e~ceed the amount ot mtymenta actaally made by the mortgagee. for ~nd rents. tuc~ sad aasesements
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