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Home My WebLink About1989 ~ _ _r ?•:::/1.~ w N? ~s.~~..y.~~,ti.~~ .•t~.. .i y,. " . . „'.iri~~..~w+M~+wrw•rrK1a~..~.ir+~+r ~?.~<e~Y~i•.~ A~~AS a~"~~....l~i~•ii~Nw•~~' ^.MV`• ~~.r ` . f . ' Z o{ ~ Pnovu~ AY.wAYS„ sad t??e~s pt~e~enb_ u~o execnted and dellvared qpon the ialbwins conditions~ to ~ wil: y The mortta~or ~o p~y th~ moit~ee, or arder, the princip~?i sam at S ixteen thousand ~our ' ~ndred and No 100 Dollars 16 , 400 . 00 as evidenced bg s nate oi evexi +~te herewith. with int~rest irom date ~ ~t the rate ef Five ~C l~ne-Quarter per oentum ( 5~ yb) per ~nnum on the un- { paid bslsnoe nntil paid Tbe uid principsl ~?nd interest ahmll be payable ~t the o~oe oi A~TICO FINANCIAL C~DRt'OCJI~ION • or at uuch othe~x pl~?ce aa the holder o! the note may de~ignate in writin~. in mobthly inst,~~llmenta of : t ~ Nittety and 69/100 Dollsre (~90.69 cannmencin~ on ~ ~ the tlrat day oi J~e , 1965 .~nd on the ftrst day ~of es~h month thereafter until the principwJ a~d interest are fully p~id. +a~ccept thxt the tinal ps~ymeat of priacipal xnd interest, if not aooner ~ paid. shsll be due aad pAyabk on the flrat day oi May ~ 19 95 ; ~ And ah~ttl dulY. W'am~y .~tttd fu1ly nertorm~ disclu~r~+e. execute, eR'ec~ co~?plete, and comply with and ~ sbide by e~ch snd ever~? t~e stigulation~„ m~reementa, conditiona. ~utd covenanta of said promiaeory note ; ~nd of thia mort~sge. t~en this mort~e and the eatate hereby created ahal! cease and be nutt nnd void. And the mort~a~or furthea~ eoven~nts es fallows : 1. 'Y"!?~t he will p~? the indebtedne~s~, i?a hereinbeiore pra?vided. Privileg~e is r~rved to pay the debt iR whole. or in an smount eqw~! to one or more monthly payments on the princip~al that are next due on the note, ott the ftrst d~y af any month prior to matnrity: Prnvided, however~ th~?t written notice of ~?n intention to ~e~cercise such Frivil~ is given at least thirty (30) dxys prior to prep~yment; und, provided ' further. thAt in the event the debt is paid in full prior to hu~turity and at that time it is insured under ' the proviaions ot the Nstional Ho~aing Act, he will p~y to the mortg~gee xn ad)usted prernium ch~rge ot nne per centum (1 ib ) of Ltee originxl principal amount thereof, except that in no event shall the adjusLcd premium exceed the sg~regate amount of prernium charges which wouW have been p~yable if the mort- ~a~e had continued to be insured antil maturit~• ; such payment ta be apQtied by the mortgagee upon its obtigation to the Federal Hausing Commi~ssioner an ~tocount oi mortgu~e insurance. - 2. That, in order more fully to protect the secnraty ot this mortga~e, ttis mortgagor, together with, - anci in addition to, tbe menthly pa~?ments under the terma of the note aecured hereby. on the first day o! each month until the said note i$ fully paid, will pay to the mortga~ee the folIowueg sum~: (a) An ~unount buf~icient to provide the holder hereof with funds to pay the next mortg~?g~e anaurance premium if thia inatrument and the note aecared hereby Are in~urc~~ or a monthly charge (in lieu o! a mortgag~e insurat?ce pr~emium) ii they are held by the Federnl Housing Commiaeioner, as followa : (t) If and w loAg as said note of even dste and CAis instrame~t sre insured or ~re reinsured undar the pro~rision~ ot t1?e NatSon~l Housing Aet~ an ~moubt suilkient to a~ecumuia4e in the hands ot t}k hclder ona (1) rnot~th pi~i~or to its due dat~e the ane?ual raortrars ituwr~anoe premium~ in order to provide auch holder wilh fundr to psp such premiwn to the 1F'edesal Howins Co~nr?i~sio~er pnrsusnt to the Natianal • Housin~ Act, ss amended, and applicsLle R~ulstions thereuuder; or (u) Ii ~nd so on6 as said noto oi evtn d~te And this instrumer?t are held by the Federal Houaing Co~nir- sianer, s nwnthly chsrge (in leeu of • martgsre iasuranos premiuin) which ahall be in an rawunt ~ equal to one-twelfth (~/,=j of one-h~?li ('~e ) per cenium oi tl~e ~?versge ontstat~ding bslsnee due on the note oounputed without tsl~ing into aeeount delinqaencios or p~yu~cnta; - (b) A sum equal to the ground rents, if any~ next due. ptua thE premtums that will next become dne and payable on policiea af fire and ather hazard insurance covering the mortg~ged property, plus taxea and sssessments next due on the mortgaged property (all as estimated by the mortgagee) lega sll swns alresdy paid therefor divided by the number of munths to elapse before one month prior to the dste wh~en auch greu»d rents, premiums, taxes, and assessments will becorne detinquent, such sums tn.be heid by mortgagee in trust to pay said ground renta, prnmiums, taxes, and special assess- meat$ ; aad (e) A2l payments mentioned in the two prec+eding subsectiona of this paragraph and all pay- mentg to be made under the note secured hereby ahall be added together and the aggregate atnount thereof ahail be paid by the mortgagor each m~nth in a single payment to be applied by the mort- . ga~ee to the fotlovring items in the order set iorth: - (t) premiom ehsrqea un~er the oantrsct o! insursnee with the ~edent Housing Cornmissioner, or monthly charge (in lieu ot mortgsge insursnce premium)~ aa the case msy be; (it) ~ibund renta, tsaces, aritsa~nents, 8re, and oth~er hazard 'zn~urance prerniums; . ~ (~it) ~ntereat an tl~e swte sanred hereby; and (tv) amortisntion af the principai oi ssid note. Any deRciency in the amount of auch aggregate monthly payrnent shall, unlesa made good by the morEgsgor prior to the due date of the next such pa~?tnenL, constitute an event of default under thia mort- ~~tge. The mortgagee may cullect a"late charge' not to exceed two cents (2~) for ~ach dol~ar (~1) of ea~ch payment more than tifteen (15) days i~ arreara to cover the extra expedse involved in handling delinquent payraents. 3. That ii the totsl of the paymenta msde by the mortgagror ander (b) of puragraph 2 pr~eceding ateall exceed the ~unount of payments actually made by the mortgagee, for Rround rents, tsuces and aesesaments ~ and inanrf~ra~e gremiums~ ~s the ~case rnsy be, ,~uch excess shall be credited by the mortgagee on sukweque~nt , ' p~?y~ments to be made bq the mortgagor. Ii, however. the monthly pAyments made by the mortgaS~or ~ under (b) oi psra~r~ph 2 preceding aha11 not ba s~cient to p~y~oun d renta, ~ucea und assessmenta ~ and insuranr.~ premi~ as the caae may ~e. whe~n the s~rne shall ~e~oms due and x?syable, then the ~ mortg~~ar s2~11 psy to i;he m~ortex~ee any ~maunt aece~rury to ma~ce up the de~cfency~ on or before the i date when paym~nnt o! such graund, rents, ta~ces, aas~sments, or insurauca pre~niums ahatl be due. If ~ at any time tbe mort~agor stu~ll tender to the ~rtgagee in ao~?,ordanc~ 'vith the provisions af the note s~ecured hereby, full payment of the ~entire ix~debtedneaa repr~ented thet~eby, the martgagee ahall, ;n com- z putin~ the ameunt of such indebtednaa~ crsdit to Lhe s~ecount oi the mort,~~or all ps~ments ms~d~ under the provisions oi (s) of psra~r~?ph 2 hereoi which the mort~gr~e lss~s not beoo~me abUgs?ted t4 pay to the ~ Federai Housin~ Coinmi~sioner and any batsnce re~r?unin in the tunds sc,cumulsted under the prori~aons of (b) af asid W~ra~rap~h 2 It therie sha11 be s d~taWt un~r any ot the provi~ions oi this mortga~e, re- sultin~ in ~ public ~le of the prsmises covered hereby. or ii t!?e mort~a~ee scquirea tfie property other- w-ise aiter detault~ the mort~a~e~: ahall appiy, st the f.ime of tbe ooaunencemrnt ot such proceedings or at i ` the time the pra~e ~s otherw~ae iicqnired, the bnl~ce then resn~iai~ in the funds ~ccumulsted uader (b) ai p~r~rsp~h 2 pr~cedint sa s credit ~sinst the ~unout?t ai priAeiptl then remaining u~paid uader z~ sri+d uote ~nd shall properly sd,just sqy ps~yments which ahatl have been made under (a) of s~id parsQrsph. ~ Th~t he will p~?y all tsxes, asseaamenta, w~t~r rstes, utd ather ~overnmentsl or municipal chxrges, ~ ~L30 ~ ; ~