HomeMy WebLinkAbout0187 _ , ~ !b.~.~ r+..~.~.N. l+i.,..;~„a.:. .Lr. c~, v f/+ - . • i • . ~
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1~1os VN.t~s R~In~~q, tM t~d~rti~ned D~(s) to ~1?1~a
_ ]~at~~d~a1 ~as~es A~cdp~trnae Coor~acatidn ~ ~ ' ~ ~
~ • ' . +n aa'Pora~ioi? orpu~?had ao~1 ~ unde~'
tlw lsw^~ ot ~ /m~/~d~3ana ordar. the PrlndP~?1 aum +Qi Zi~t ~ais~nd S~s :
~ ~ .YJM~~Mw~~~~w~~w.w~rr~~~~~~.~~w~~~~~ ti 8 6 •W ~1 :
~11t!!'!~ tl"0o1 dit+Q ~ til! t'i~A 0~ Mrd v~ OOA~QU~dT~~' P~' 5"~~ ~
artnam on tbe uap~id baiatros imttl psid. Tlrs a~d principal ~wd it?tex+e~L sh~ll be p~yab~e ut Lhe oAfoe ot ~
. llsticinsl Aades Acca~rt+u~ce • Cospo~t3an '
u? Ie~t'~~re~~er mdi.a~me , or st such other p4~ce as the ;
= hold~r mr,y desi~wLe in writ3n~ in monthly ins4tllmeats o~ 1~~jr 3erv~n and 83/]AO~~'~~~~~~r~w~~~ '
~ : Dol4ir~ (i $?.83 aammendn~t on the dnt day ai ~,y . ls 6g aad ~ ~
t on the llxat day o~ a?ch manth theresfter until the principal ~und inl~ere~t arr~ fu11,Y Paid. except thst the tln~l ~ (
f • payment o! the entire indebtedrress e~viden~cad hereby, if nat sooner p~id, atuU be due uid p~yxbk oe the ~
; first d~Y o!' ~c'll .19g~'j. ~
~ If defanlt be mada in the p~yment oi auy inst~llen~nt wnder thls nots aad if such de#~ult is noE m~rde ;
~ ~ood prior to the dua date of the next such inst~t, the entlre prlacipa~ aum und ~ocrued intereat slull ;
st aro~ beoome due ~nd psya~e without notice xt ths optiaa of tbe holder o# t~i~ aoGe. F~ilare tA exerci~e
~ this option sluU not c~uustitute s vr~ver of the r~t to exercise the same in the event o~ ~ny auba~quent ~
< deiaulk In the event ai defauh in the p~?ymeat of this nate, snd if the aame is oollect~d by an attorney
~ at I~w.th~ umlersi~nd herebY +u~ree{~) W pay aU oosta of eollectian, iacludin,~a reasonsbde ~?ttorney's fea ;
~ Presentment, Ptvtest, and notios are hereby ~ived.
~
~ . ~s~ Curtis Ade~n~
Zurtis
: . ~I~innie Lee Ad~u! (3gAr,)
' e
A~d ~uiII d~17. . a~ falb P~'~~k ~5~. e~caeute, ef[ect, oori~pLete, and aompty w?ith snd
~bdde b~ eeicl~ ~d ~e
s#ilwilnt~ans. ~b. oanditia?ns, aad eavenants of a~?id note
; ~ad o! 4his 1r~o~tt~.~ this mo~rt,~ ~nd the eatste hereby cra~ted sh~ll oeuse and be
n~ void
Aad the mart~or inrther ooveiuab as ioUows:
~ T6st he wID p~y the indebtedneea, ~ berainbetore pravic~ed. Privile~e is reserved ta p~y the :
debt in whole, or in sn ~nount eqtt~l to one or more monthly psymenta on the prjncipal th~?t ue ne~ct dne
an tl~e note, oa the flrst day of any month prior to maturity : Pruvided, however~ that written notice of an
intention to exereise such privile~ is ~iven at leaat t.hirtY (80? d~ys P~r ~ P~P~Y~nt: and. Pr~vided
' further. tbst in the event the d+ebt is paid in iull prior to, m~tnrity and ~t thst time it i~t fnaured under
the provisions ot the Nstionai Houaing Act, Le w~l puy to the mortgagee aa udjusted premium ch~ge o! ~
; one per aent~m (196) oi the origine?1 principal amount thereoi. e~ccept that in ta event shall the adjuste~ ~
m
~ praniuim exceed the te amount of premium charJ~es whic6 woald }uve been pa~Y~ble if the mort-
~aS+e hsd eontinued to insured until maturitl• ; such payrment to be applied by the mortg~gee upon its
abligation to the Federal I~ousing Commiaaioner on a~ocount oi mortgi~ge insu~snce.
2. 1'6at, in order more tuliy to protect the gecurity of t6is mortg~ge, the mortgtcgor. tog~ether with,
- suad ia ~dditiQn to. the menthly p~~?ment~ unde~ the ternis of the nat.e aecured hereby~ on the flrst day of
e~rch azonth until the said r~ote is fully paid, will pay to the mortgagpe Lhe follawing sums:
(a) ,An unount au~cient to provic~e the holder hereo! with lunde to . pay the neat an
fnsurance premium if thia in~truaient and the note ~ecurcd hereby are i~sured, or a monthly4
(in lieu of a mortga~g~e inaurance premium) ii they are held by the Federal Housing Commiesioner,
sa followa :
(t) Ii and w 1~ aa rsid note ai evm date a:?d tbis instivment sre inwr~d or :t+e re~nsnred m~er tha
• proviaioms at tbe N~kional Houaii?g Act, an amoant sull6eie~t to ~ocu~uiate in t}k handa o! Lhe hold~r
omwe (1) man~lh priar to itr dm dste tbe a:?nw~l anort~a~+e insarance pnmiam. in order to prwide ruch
, holder wi~h fands to pay sne]t ~rami~ae to tise Federal H-onains Commisdoner pnrsaant Lo tbe Natioaal
$~et; as•ama~ded~ and spplic~bls Re~ubtio~ts tbsreun~er; or
(a) It aad ~o ss ssid note ot a~vcn date aAd tlw instrnment sre l~eld tbe Federai Honaing CommL- ~
r34ner, s mo~ eh~r~e (in ~iea o! a nw~¢gage inwratios peamina~~ ~wfiieh shRll !ie in sn snwnnt
eqa~i to one-t~? ( ) a! one-half per eentam oi tLe svera~~e ontstandin~ bsi~oe dne on the
note eoen~ated withoa~ tslang into aoeannt d~elinq~dides os Prm~?sYmeicts; . .
A sum equai ta the groand renta, if any, nezt dne, pDus the prcmiums that will next become ~
dtu ~ad pai?yable on policies ai flre and other hazard insararutie caverin~ the mortgaged P~P~~Y. P~~s
t~xes snd xae~eesmcnta next due on the mortg~~ed property (all as estimated by thp martgagee) less
all wms atrU?dy psa~ therefor divided by the number. of manths to elapae before one month prior
to the dste when suclt ground- r~n~e, .premiuma. t~cea, and assessments will beooartie d~linquent, such
n~ms to b~ held by mortgag~e in trust to p~y said gmound rents, premiuma, taxes, and apecial asse~s-
m~ents; s~d
~ ~ (c) l~iH p+~ymen4a mentian~d in the two precec~ing subacctiona af thi~ paragraph and ail p~~?-
mc~nts to be msde under the nots secured here~y ahs11 be added tog~ether aad the ag~ate auawnnt
thereof shall be paid by ths mort~ag+or esch month in s ain~=le pay
ment to be applied by the mort-
'-~~~ee to t~e toll~~ items in the order s~t forth :
f ; (i) Presnima e)~?rqes uader tha eo~tr+~t ot insnranos w#th t!~ Federal Houdng Coaacaiisioner~ or uwnthl~
s ~a~r~e (in lieu oi n~ort~a~e insar~tua pt+eminm)~ u the c~ose m~y b~s; .
, ; (n) d reub. taxer. a~ks. Ssre? a~trd other hasard iaaoratioe.'premfums;
~ . (iu3 t~rert on the ~?ot~ sue+ut~ed her~ebYi +~1
i•<., . (t~ as~wttdaation ot the priucfpal of atid ~vtt.
Any deflcie~y in.the amount oi such ~g~ate mon~hlg ~ayment ahsll, unlesa made ~+ood by the
A~cur~prior to tlte due date oi the next ~uch ps~?men~, oonsfitute art event of de#~ult nnder this mort- •
~ p~nt m~o~t~tu~n yRit~
(15 ~ da s
i~'n~arrears ta cove~r
the
extnt ror a?ch dollar (=1 at
) Y ezpense involved in h~tnd~
: , delinquent Pa~ynrents.
; 8. T!?at i! the tatal of tbe p~tyments mtWe by the m~rt~gor un~r (b) oi pat~~rspht 2 Frecedi~ shull
s ~oeed the itmount of nayments sctually made by the mortg~e~e. tor y~round rents, t~axes snd a~nent~ •
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