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Home My WebLink About2855 v , . ir~t"_~?.r.ti.~..r. ~ ~I?.r.~Mrr • . . . . ~ - . ~ ~ . . ~ ' ' i F+o~e Y~t.vs Rtxstv~. the uadersiQaed protaise(a) to pay to • ! . ~ " j - UNIZ'BD? 1'+~ORTG~GC~,B 3$RVICING (7(~RP. . a oorpontioa org~nised and exlsting under , • the laws oi the 3tate of New York , or order, the principal aum of Nine T'housand ~ $ight 8undred and no/100 ~I~(i 9 800.0o )~~"I~ inter~t irom dats at the rate of Five and one quarter Per cen~wn ( 5 1/4 96) per ~nnum oa tbe unpaid balance unt~l paid. The aaid principal and iaterast ahall be p~yable at the o~oe oi United Mortqagee Servicing Corp.. 3200 Pacific Avenue in Virginia Beach, Virg 3.riia , or st sacEi other plaoe as the . holder m~?y designate in writing, in monthly inatallmenta oi Fifty Four and 19/100 Dollara 54.19 oommeucing on the ftrst day of November .19 fi4 .~nd ' on the tirat day of each month theresftsr twtil the principe~l and inter~t ~re fully paid. euoept that the flnal payment oi the entire indebtedneas evidenced hPareby, if not aooner paid~ ahe~U be dae and payabte on the . first da~y o! October .18 94. - If default be made in the payment of auy installment under this note ~nd i! aucb default is not m~de ~ood prior to the due date of the next such installment, the er.tire prlncipa~ sum and aocrued interest shall st once become due and pa,yable without notice at the option oi the holder of thia note. F~?ilure to exercise this option ahaU not conatitute a waiver of the right to exercise the same in the event oi any subsequent defuulk In the event af default in the payment o1 this note. and i! the aame ia oollected by an attorneq ~ , st IuvK. the undersigned hereby agree (s) to pay at! ooats of oollectton, including a reasonable attorney'e fee. Preaentment, protest, and notice are hereby waived. rathleen Warner (SEAL) I~11'HI+BRN WARNER . ~ N~CE3SARY DCCUNIEN?AR4 M_ STJ11iP3 ATSACHE!) ~O ORIOINJ~. I~10?S l1I~iD CA.NCF.~.LF•D And s}~Il dulY. pro~mPW?. ~ i'uIl~? pertuna, e~cecuts, eSect~ oomplete, and camply arlth and abide by each and ever~r the stipulat~ons. ~greemen~tions, and oovensnts of 8aid pmmisaor~? note ~nd oi thi~s mortga,ge, tben this mortgage and the eatate hereby created ahall eease and be null and void. And the mortgsgor further oovenanta aa followe: 1. Tbat he will ppy the indebtedness, as hereinbefore provided. Prlvileg~e ia reserved to p~y the debt in whole, or in an stmonnt equal to one or more montlil,y paymenta on the princigal that are next due on t6e rwte. on the firat day of any month prior to maturity: Provided. however, that written notice of an intention to exerciae sach privilege ia ~given at least thirty (30) days prior tu pre~ayment; and, pmvided iwther~ that in the event the debt is paid in full prior to, maturity and at that tune it is insured under the provisions of the Nntional Housing Ack be will pny to the mortgagee an adjuated premium charge of one per centnm (196 ) of the original principai amouat thereof. except ti~at in no event shaU the ad,jasted , ..pre~nium eaceed thea~gr~gate amount of premium charges w}uch would have been payable if the mort- ~ Sage had oontinued ~o be insured until maturits~; such p~yment to be applied by the mortgagee upon its obliga'on to the Federal Iiousing Commissioner on aocount of mortgage inaurance. 2. Tha~ in order more fully to protect the security ef thia mortgage, the mortgag?or. toget6er with, and in addition to. the menthly paymenta under the terms of the note secured hereby, on the flrst day of e$ch month until the said note is fully p~id, will pay to the mortgagee the foUowing suais • (a) An amo~nt sutHcieat to provide the holder hereo! with funda to pap the next mortgag~e insurance premium if this inatrument and the note secured herebq are insured, or a monthiq charg~e (in lieu of a mortgage inaurance prenaium) if they are held by t~lue Federal Housing Commiasioner. - aa foUows : . (t) If and w bng ~s said ~e o! even date and this instrnment ara inmred or ua ninsnred nnder the . proiiaons oi tbe Nitional8ouaing Act, Rn an~ount snf~cient to aeeumnl~te in t1?e hands of the }alder one (1) mo~?th rior to it~ due date the ~nnwl mo In otder W provIde aueh ~ p rt8a~e inwtauos Premtum. i Hlwlder with iunds to pay s_uch premiua? to the Fedaral Honun` Commi~sioner pnrwant to tbe N~tional Act, as simended, ar~d~ applieabls Re~nlntios?s thet~ennder; or_ (ttj ii ~nd ~o as ss~d note of eve~ date and ttw instrurn~t aY+e beld by tLe Federal Hoasing Comnai~- - doner, ~ monthly eh (in Heu of s mortga~e insnranos prnnina~) wliieh shall be in aa amoant eqaal to one-twelith ~j of one-haii ('K ) per oentam ot tbe averag~e ov4tandir?~ b~lanoe due on tbe . note eampated wit6ont taking into aooount del~rrqueneia or prapsYmeat~: (b) A sum equal to the ground rents. if any, next due, plua the premiums that will next beoome dne and payable on policies of ftre and other haaard inaurance oovering the mortgaged property~ plus . ta~ces and asaessments n~xt due on the mortgaged propertY (a11 as esWnated by the mortgagee) lesa . all suma atready paid t~erefor divided by the aumber of munths to elapae before one manth prion~ to the dste when such groeind~ renta, premiuma, taxes, a~d asaessments will become delinquent~ such ; auma to be held by mortgagee in trust to pay said ground ren~a, premiucns, ta~cea, and apecial asaesa- menta; and (c) All paymenta mentioned in the two preceding subsectiona of this paragraph and all pqy menta to be made under the note secured hereby shall be udded together and the te atnount thereoi ahall be paid by the mortgagor each month ia ~ single gayment to be appl~~'~y the mort- ~ ~agee to the foUowing items in the. order set forth: _ (t) pnminm ehargea under t6a contract oi inauranoe witb tbs Fed~er~l Honsinr Conamt~ioner. or nwnthi~ ~ eharg~s (in Uen of nartgag~e insaran~e prrminm)~ aa tLe eass ms~ be; (u ~eound renb. taxes, as~am~eats, lire, aad Ather hwrd Insuranoe praaiunu; (m intered on the note ~eeured herebY; s~d _ . (nr aa~ortis~?tion oi tbe prineipsl oi said note. Any detkienay in the amouat~oi such aggregate monthly Qayment ahall. unless made gnod by the ~ t~a~or prior to the due dste of the next auch pa~rment, oonstaH:te an event oi default under this mo*~t~ . t~~ge.~ -~he mortgaQee nwy cullect s"lute charge' not to exceed two cents (?~j for euh ~dollar (;1) o~ each p a, y ment more thxn fliteen tib) d a y a ia arrears to cover t h e e u t r a e~ n ~ e i n v o l v e d i n h s n d l i n a - delinquent payments. : 3. Thst it the totsl oi the ps?ymenta msde by the mortgagor ander (b) oi psragraph 2 prer,eding shall ' e;oeed the amount of paymenta actually made by the mortgag~ee, Ior ground renta. taxes and asaea~menta # o. g7 F~c~ 454 ~ ~ . ~ . . . O e~~~ _ - - . . - ~-z; -