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Home My WebLink About2157 i~1A ~'v .a ~ • _ ~ . „ •'~r. • .i : f . - _ . ^,w~V.rr~.+..,.~sw~•~-~- - . . P~ou V~?[.uB R~cBivl~. the uadersigaed prwn~ise(~) to pay to ATICO FINANCIA~ CORPORATION ~ • . . the t~wa of Delaware ~ d~rPontion organised ~nd exiating under , or order. the principal aum.of T~~lve tt~ousand two hundred f ifty -----------------------..--~llnra (;12,250.00 wtth . intere~t frorn date at the rate o! F ive 8t One-Qve rter per centum ( S~ gb ) per ~nnum on the ungaid batance uAtl1 paid. The said princip~tt and ~nterest shall be payable at the ol~oe o! ATICO FINAN~~ ¢0 ~ORA~IaN holder in M iam 1, d , or at such other place aa the may designate in writing~ in monthly installments of S~x ty s even end 7 4/100 DoUare 67 .74 commencing on the tirst day of October .18 64 . and ; on the tirat day of each month thereafter until the principal and interest are fully paid. exoept that the final . payment of the entire indebtedness evidenced hereby, if not sooner paid. shall be due and pay:~ble on the fii~t day of September ,19 94. ~ If default be made in the payment of any instaUment under thia note and if such default is not made ' good prior to the due date of the next auch inatatiment~ the entire princip~ sum and ac~crtaed interest ahall~ ; ; at once become due and payable without notlce at the option of the holder of thia note. Failure to exercise this option shall not constitute a waiver of the ri ht to exercise the same in the event of any subsequent ~ default, In the event af defaul~ in the payment o~ thia note. and if the same ia coilected by an attorney at Iaw~the underaigned herebY a8~($) to PaY a11 costa of eouection, incladin&a reasonable attorney's iee: ~ ` Presentment~ pratest, and notice are hereby waived. . ~ (State Documentary Stemps William T_ Lind~pK r~FeT~ af f ixed to or iginal note ~1i11 iam J. Lindley _ ~ • and cancelled . ) ~ s/ Ma P. Lind2e - Y'Y Y - CSEAL) Mary P. Lind e~ y! : ; And ahall dulY. Pmn?pt1Y. and fapy l~erform. disc6arge. execute, effect, oomplete, and eamply with and I ~ ~blde by eaah and every the stipulations~ agreements, conditions. and covenanta of said p~+a~niesory note und of thia mortgage, then this mortg?age and the eatate hereby created shall cease and be null and void. ~ . And the mortgagor further covetiants as followa: 1. That he will pay the indebtedness, as hereinbefor~ provided. Privilege ia reserved to pay the ! , ~ debt in whole, or i.n an amount equal to one or more montlily pqyment$ on the principal that are next due ~ on the note. an the tirst day of any month prior to maturity: Provided. however~ that written notice of an ~ ~ intention to exercise sUCh privilege is given at least thirty (SO) days prior to prepayment; and, prnvided ~ further, that in the event the debt is paid in full prior to maturity and at that time it is insured under the provisions of the National Housing Act, he will pay to the mortgagee an ad,justed premium charge a! j : one per nentwn (1 q6) of the original principal amouat thereof, except that in no event shall the adjusted premium exceed the aggregate amovnt of premium charges which would have been payable if the mort- ~ ° gage had oontinued to be inaured antil maturit3•; such psyment tfl be appUed by the mortgagee upon its ~ obligation to the Federal Housing Commissioner on aocount of mortgage inaurance. ` 2 That~_in order more #ully to protect the secueity of this mortgage. the mortgagor, together with~ ; snd in addition to. the monthly paymeats under the terms of the note secared hereby, on the first day ot ' eaeh month until the said note is 1uUy paid, will pay to the mortgagee the following swus; ~ ~ (a) An amount sutHcient to pmvide the holder hereof with fands to pay the next mortgag~e ~ insurance premium if this instrument and the note secured hereby are insured, or a monthiy charg~e ~ (in lieu of a mortgag~e inaurance premium) if they are held by the Federnl Houeing Commisaioner, as followa : ' (t) It and soloua as said note of e~en dat~ and this inatrnment are insured or ue r~insured nnder the ~ provisions oi the National Housing Act, an eaannt sufllcient to secwnulste in the hands oi the lwlder one (1) month prior to ita due dste the annual mortgag~e insuranoe preminm, in order to provide sn¢h ; holder with fands to psy aueh premium to the Federal8wsing Commissiontr pnrsaant to the Nstional Housing Aet, as unended. and spplieable Be~ulstiona therEander; or (u) It end so long as aaid note of even date and this instrument sre hdd by tbe Federsl Honaing Commis. ~ aioner; R monthlq chs (in liw of a mortgage insnranoa preinium) ~vliieh shaU be in An ~oant ~ . eqnal to one-twelfth (~j of on4-hsti ( i~ ) per centu~ of the sverage o~tatandina balanee due on the . , note eomputed witl~ont takin~ into aeeount ddiaquenciea or pr~re ~ymenta; - ; (b) A aum equal to the ground rents, if any, next dne, plua the pren?iuma that will next become due and payable on policies of fire and other hazarci insurance covering the mortgaged property, plua - ta~cea and assessments next due on the mortgaged property (aU aa estimsted by the mortgagee) lesa ~ all sums already paid therefor divided• by the nnmber. of months to elapse ?b,efore one month prior ~ to the date when such ground rents, premiums, taxes, and assessments will become delinquent, such sums to be held by mortgagee in trust to pay said ground rents, premiums, taues, and apecial asaess- ~ ~ mente; and - (c) All payments mentioned in the two preceding anbsections of this paragraph and aU pay ~ : ~ menta to be made ttnder the note secured hereby shaU f~e added together and the te a~mount ~ thereof ahall be paid by the mortgagor each month in a single payment to be appL~ the mort• ~ gagee to the follewing itema in the order set forth: : ~ (t) Pnmium charg~s nnder t2~e oontract oi insuranes with tbe Fakral Honsing Ca~mi~sioner, or monthly eharg+e (in lieu ot mortgage inanranee pranium), as tbe caie ms be; ; (u ~round rents, ta:a„ aseeaaunents, flre. and othpr hsurd insaranae premiums; ~ (m intenst on the note seenred hereby; and ~ (tv amortjastion of the prineipsl oi said note. ; Any deticiency in the amonnt of such aggregate monthly ~ayment ehal:, unlesa made good by t~e ` iaort,ga~or prior to the ~ue date of the next auch pa~rmenk conatatute an event of default under this mort- i gage. The mortgagee may cuttect a"late charg~e' not to exceed two centa (2~) for each dollar (~1~ o!' ~ each psymeat more than flfteen (16) days in arreara to eover the extra e~cpenae involved in handling delinquent paymenta. ~ 3. That ii the total of the payments made by the mortgagor under {b) of paragraph 2 preceding shall i ~ e~ceed the amount of paymenta actually made by the mortgagee, ior gmund rents. taxea and asees~ments ~ . ' • ' O.R~ 9S ~~cc356 . - ~ ~