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Home My WebLink About0569 . ~ ~.s~r~. ~~/l?f~~....~• ~ t i ' . ; ~ ~i:rj. '~~Stt~l~.ec...y~r `.1..•`i.~d~~: e''~ :.,?~-a~ -r'~• `l.lrl~~~k ~ _ . . ~ ~ • J~ ~j ~ • f ~ psovm~ Ai.w~7[s, and there pre~eab are esecutai ~nd c~eliver_d upon the followin~ conditions, to . ` ~vit: . ' ~e mo~t~o~ ~?,~rees to pny tlre mort~a~ee. or order. the prindpr?1 sum o! Thirteen thousand ~ Fiva Hut~red and No/1Q0 ' Dd1us 13, 500. 00 arr evidenoed by nete oi even dste herewith, with in~erest from dste ~tt ~e rste oi F ive Ona -Qua rt er P~ ( 5~ 9b ) P~ snnum on the un- . paid balsaee antil paid '1'he aaid principal and interest ahall be pa~sble st the oQfoe af . ATICO FINANCIAL CORFORATION ~ or at sacL ~her pl~oe aa tbe holder o# the note may desiga~te ia ~vritit~, in monthly inatrlhnents of Seventy four atnd 66/100 -----------~u~ (a 74.66 commencing on the Srst day of I~y . 1g 65 on the l~rst dsy of each month thereatter until the ~ ~ P~~P~ and interast u~e inlly? Paid. ea~cept that the flnal psyment oi prIncipai and intereat, if not eooner paid. a!?sll be dae and p~yable on the ftrst dAy ot Apr i.l ,~9 95~ And sh~ll du1Y. P~P~Y. ~~RY l~~orm, di~char$e. eacecute, et~ect. camplete. and comply with a~nd ~?bide by e~ch and ev~ry the st~pnlations, agreement~s. conditiona. ~nd covensu?ts of aaid promis$ory note - snd of thi~ mort~e. then thia mort~ xnd the est~te hereby rreated ahall cea.?e nnd be null at~d void And the mort~ar further covenants aia followa: ` 1. Tfist he ~rill ~y the indebtedn~ss, as hereinbefore provided. Privilege i~ r~e~ved to paY the debt•in whok. or in ~ta ~utrount eqwtl to one or more monthly psymenta on the principal that are next due on the notc. on the tirst day of ~xty month prior to maturity: Provided~ however, that written notice of an intention to +~acercise such privilege is given at least thirty (3Q) dayra prior to prepayment; and; provided further. th~t in the event the dPbt ia paid in iull p»or to maturity snd at that time it is in~ured under the provisions of the Nationat Housing Act. he wil! p~ny to the mortgaBee an adjusted pre.r~ium charge oi ' one per centum (1,~Yv ) of the original principsl amouat thereof~ eucept that in no event ahal! the adjusied ~ premfura exceed the a~grega~ke amount of premiumeharges which would have been payable if the mort- ~ag~e had continued to be insured until msturit~ ; such payment to be spplied by the mortgagee upon its obli~ation to the Federal Housing Commissioner.on account of mortgsge inaurance. 2, That, in order more fully to protect the secnrity of this mortg~age, the mortgagor, together with~ • and in s~dit~on to~ the menthly payments under the terms of the note secured hereby, on the first day of eu~h month tantil the aaid note is fully paid, will pt?y to the mortgagee the following suma: (a) An smount ~nfficient to provide the holder hereaf witti funds to pay the next rnortgag~e I inaurance prennium if this instrument and the note secured hereby are inaured. or a monthiy charge ~ (in lieu of a mortgag~e inaurance premium) if they are held by the ~ederal Aauaing Commissioner, t a~ follow$ : ~ (I) Ii and so long as ssid note oi even date snd this instrument sn insured or ars ninsured under the ; pr~viaions ot the N~tional Housiag Aet, an smount sul6cient to aecumulate in the hunda oi the holder one (1) m~nth pihor to its due date the s?nnual mortg~e inwrxnce premium~ in oider to provide e~uch ~ holder writh funda to pay such premiwn to the Fedrxal Housin* Cammiasianer punwuet to the NAUonal ; . Honsin~ Aet. as amended~ snd sppliesbla Re~ulations thereunder t or i (u) If and so long aa said note of even dafi,e and t}us instrun+ent sre held by the Federsl Howing Commis- . i sioner. a»wnthly eharg~ (in lieu of a mortga~e insurwnee prexnium) which ahrli be in an amount j equal to one-lwelfih (~s) ol.one-hali ( 34 ) per.centum oi the average ontatanding b~?lsnce due on the i rote computed witlwut taking into acoount del~nqueneies or grepaymenls; a : (b) A sum equal to the ground rents, if any, ne~ct due. plua the premiums that will next become i dne ~rd paYable on policies of fire and other hazard insurance covering the mortgaged property, plue ~ tsxea and asaesaments next due on the mortgaged property (all sa estimated by the mortgagee) lesa all sums alreadY P~id therefor divided by the number of muntha to elapse before one month prior ' to the dste when such ground renta, premiums, taxes~ and assessments will become delinqu~nt~ such I ~ums to be held by mortgagee in trust to' pay said ground rents, premiuma, taxes. and special assess- + ments; ~nd ~ (e) ~lll payment~ mentioned in the two preceding subse~ctiona of thia paragraph and all pay- j menta to be made under the note secured hereby ahall be added together and the aggregate amount ~ thereof shall be Faid by the mortgagor each month in a single payme~t to be applied by the mort- gag~ee to the following itema in the order set forth : (t) preminna eharges ander the eo»tr~?ct of inauranoa with the Federsl Housing Commiseioner, or munthlq i e}u?rge (in liea e! mortga~a insnnnce pt~c?ium), as the t~se msy be; ~ (tt ~round rents, iaxes, ae~eaaments~ lire, and other har.~zd insunnce premiums; ~ (~1~; ~nterest on the note seeured henby; ~nd ~ (tY) ~unorRisstien of the principnl oi sffiid note. ' Any de}icien~y in tAe amount of auch aggregate monthly payment shall~ unlese made good by the ; mortg~or prior to the due date of the next such pa~?ment, constitute an event of default under this mQrt- he mortgag~e may cullect a"late charge' not to exceed two cents (2~) for each dollar (~?1) of ~ ~ p~yment more than fifteen ( lb) daya in arrears to cov+er the extra expense involved in handling delinquent payments. i 8. That ff the totsl of the payrnenta made by the mot~tg~agror under (b) of paragraph 2 preceding ahall I euceed the Atnount of t~ayments actually made by the mortgagee. for pcround renta, taxes and asaesaments aad insurance premiwna, us the caae m~y be, such eacesa shall be credit~ed by the cnortgagee on subgequent • pa,ymenta ta be m?~?de by the martga~or. It, however. the monthly payments rnade by the rnortSagor nnder (b) of psragrsph 2 precedin~ s2?~11 not be sufli~ient to p~yground rents, taxea a?nd aaaeasmerrta und insurance premiuma, ss tbe cs~se may be, wh~n the same ahall ~me due s~nd payable, then the mortQa?~ar shall pay to the a~ort~a~e auy amount necsssary to ~k~e up the detkiency, on or before the date when payment of such Bround, renta, t~ucea, at~essmenta. or inaurance prezniwna ahall be due. If st any time the awrt,~a~or shall tender to the mortgagee in a~ocordance with the provisiona of the note ; secured hereby~ tull ps~ynne~t of the entire indebt~dnees represet~ted thereby, th~ mort~a~ee ahall~ ;n cam- ~ ~ putinQ the ~nount af such indebtedneas, credit to the sceount oi the mart~ag+or all payments made under - . ~ the provisions oi (a) oi psraQraph 2 hereoi which the mort~g~e has no~ become obligated to pay to the Federal Housin~ Commiasioner and ~y bal~aee remsinin~ in the funds accumulated under the prn~•isiona of (b) oi said Fsragrsph 2. Ii tliere shall be a defaalt under s~? af the proviaions of this mortgage. re- sultin~ in s pnblic sale af the pr~iaea oovered hereby, or ii the mortgsgce acquirea tl~e property other- wiae after defsult,, the mort~a,~ee shsll apply, st the time of the c~omrnence:ment ot such proceedinga or at ' the tim~e the pro ~s otherw?ue ~oquired, the bat~x~e then r~maiain~ in Lhe funds accumulated under ~ mi (b) of~r~r ph~2~preoedin as a credit ~ainst the a~wunt oi rincip~tl then rett~aining unpaid under ssid note ~?ad ~~hall properlY s'ust anY PnYments which ahall hsve n made under (a) of aaid pArs~raph. ~ , " 4. That ~e will psy all taces, ~seaameats, water ntea, and other p,rovernmental or municipal charges, ~ , aoo~ 113 ~fi? . ~ -