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Home My WebLink About2291 . ~ ~~n,~~. .aI .M~~ r...;~ ~ ? •~s ~~.•r .y..r.r~~j ..~s,~..~ a s r . . . . . W/k?~:l.+rr ~~t• ~Y ~~•w•• ``~i~ .rw.i~. ~ a ' ~ ' ~ • • i j~~~' i ~ ` • • ~ ti ~ ~ P~oovID~ ALwATB, ;nd tha~e prdenb ue eucuted and' ~eltvared npoa the ioUowias o~Iitiona, to 2 ~ , '~he mor~or ytrees to tbe mort~a~e, or arder. the priecipal sum ai . F it teen thous aud ~ : ~ . ~o l~undred aad No 00 ----___~.._,_~..,---------..~..---x-----_,----w--- llallara (i 15 , Z00. Op . aa avidenoed by a nate ot eveu cLte here~vith. with intet~e~s! from date ~ at the rate of Fiv~e & OQe-Quarter per centum ( 5~ 96) per snnam on Lhe an- ; paid balanoe esntil p~id. ~e stid princip~?1 a,nd intereet shall be payable-~t the ol~fce o! j ; taTICO FIN~CIAL CORPORATION ~ ; s ; , , ' ar st such other pluce as the 2wlder oi the not~ m~,y designste in vvritia~. in moathly insts~ltments of ` , . E ighty four and 06/100 - - - - ~llars ( f 84. 06 ) ~ oommencing oa ` - the first day oi JuDe . 19 b5 . a?nd on the flrst dsy ot esch month Lher~ai'ter untfl the ~ princip~! ~ud intereat are lulty p~id, except that the fln~l payment of priacip~l And intereat, ii not sooner _ ps~id. ahati be due nad p~y~ble on the tlrat day oi May ,19 95 ; ~ ~ And ahall dulY. prompt1Y. ~d faAy perform. di~clu?r~e, eacecute, eQect, compkte, snd canp~y vvith a~l 3 *bide by ~ch snd ~?ery #he stipulationas, ~reementa, ~onditions. and covenants of aaid pmmisaory note ~ t ~ad of thi~ mortga~+e. thcn this mortsa~e and the estate hereby ereated shall cease ~?nd be nuU and void. ; And the mort~aror further covenants s~ followa: ~ ~ Thst he will p~y the indebtedness, aa herei~before prnvided. Privilege is re~erved ta p~y the debt in whole, t~r in sn ~mount equal to one or mo~~ monthly psyments on Lhe principal thst ar~ next due on the note, on the tirst day of any month prior to maturity : Provided, however, that written notice of an intention to exerciie such privileg~e ia given at leaat thirty (30) days prior to prepayment; and. provided further. th~?t in the event the debt is p~id in full ~rior to maturity and at that time it is inaured under the provisior~s of the Nationa[ Housin~ Act, he wil! pay to the mort~tgee an Adjusted premium charg~c of one per ceat~m (1 ~6) af the original principal amount thct~eof, except that in no event shall the xdjualed pnaniam exceed the ~ggre~?te amount of premium chargea wh~ch would have been po~yable if the mort- txg~e had contiaued to be insured until maturity; sueh payment to be ~pptied by the martgagee upon its obligation to the Federal I~Irwsing Commissioner on account of mortg~e ~nsurance. 2 T'hst, it~ order more fuAy to pr?utect the se~carity of thie mart~~, the mortgagor, together with. rwd in s?ddition to~ the msnthly p~ayments under the terms of the aote secured hereby. on the first day of ~wch manth until the aaid n~te ia fully paid, will pt?y to the mort~?gee Lhe followin~ suma: (a) An ammount su8kient to provide the holde: hereof with tunds to pay #he next mortgag+e insurance premium if thia instrument and the note secured hereby are insared, or a rrwnthiy charg+e ' (in lieu of ~ mortQa?gp inauttiunce preinium) if th~y are held by the Fedez~! Housin~ Commissioner, F aa fallo~ : (i) It and ro lo~ sa osid note oi even date e?nd thfs in~trument ~ra insured or ~re ninsured wider the proviaio~as oi the National Housing Act~ ~n aaeount suf~ieitnt to ~ecumutaLie in th~e hands of L}~e holder ~ one (1 j ano~nth priar to iGr dv~e dat+e the a,nnwl nwrtsagb inwrance premium, in order toprovide such holder writh funds to pay ~uch premium to the Fedetsl Honsin~ Caans~aissianer purs~snt to the NRtionsl ' Aousing Aet, ss amei?ded, and spptiesbie R~ulationa LhereuMkr; or (a) It snd so lon~ ss said rwte oi even diLe und th~a instrumert sre h~W by the Federal Housinr Commis- . aianer, s~wuthly eh (in liw oi a mort~a~e insuranee premium) which rhal! be ia an amwnnt eqw! to Qne-twelfth of one-halt ( 34 ) per centnq~t oi tl~e wversge outaGandin~ bslance dus on the note oompated withaat taking into atenunt delinqueneies or Prepsymentf~: - (b} A swn equal to the ground 'rents, if any, next due. plas the premiurns th~t will next bccame 8ne und pay~tbte on poiicies ot fire and other hazy~rd irrsurance coverin~ the martgaged property~ plua t~?xea ~d asseasments next dne on the mortgaged property (all as estimated by the mortgagee) leas all swna~ alr~eady paid th~refor divided by the number of munths to elapae before one month prior to the d~te when such ground renta, premiutns~ taxea, and assessments will bc~ome delinquent, auch sums to be held by mortgagee in trust to pay aaid gmound renta~ premiuma, taxea~ and speciat as~sesa- menta; and ~ - . (c) Att payments mentioned i~ the two preceding sub~ections o! this paragr~ph and all p$y- ments to be made under the note aecured hereby shatl be udded tog~ether and the a te amount thereaf shall be paid by the mortgagor each month in a single payment to be ~appL~ the mart- gag+ee to the following item$ in the order set iorth : i (i) prerainm elutrRes ander the cont~ti?et of insursnos with the F~deml Hnuaing Cornmissioner, or monthl~ i char~e (in lieu of mortga~e insarance premium)~ as the ease may be; (tt ~round rents, tues, aagessments, Rre, and att?er haasrd in~ursnee premiums; . ~ ([ct~ ~pterest on the ~wte Meeured hereby; ~nd . . , (iY) amortis~tion of tt~e principsl oi as?id note. ~ Any deficiency in the amount of such aggregste monthly payment shall~ un~es~ made g~ood by the mort~or prior to th~ due date of the next anch pa~vtnent, canstitute an event of default under thia tnort~ ~sg~e. e mortgagee may cullect a"late charge' not ta e~cceed two centa (7~) for e~?ch dollu (~1) af e~ch p~yment more t~?an fifteen (15) days in arreara Lo cover the extra eycpenae involved in hsndling deliuquent psyments. ~ 3. That if the tot~l of the payments made by t~e mortgagor under (b) af pnragrs?ph 2 prec~diag ettall e~ceed the smount oi payments actualiy ~nade by the mortaag~. for ~round rents, taxea And asee~ments ' sud u~sursnce px~erniums. ~s the case may be. snch ~cxas ehsll be credited by the mortgage~ on ~ubaequeat ; ~ psymenla to be mads by the mort~a~or. If, however, the naanthlY W?Ymenb made by tbe mort~a8ar ~ nnder (b) ai p~ra~rsph 2 precedin~ shsll twt be w!!lcieut to pay ~t~ouvd nnts, tua and assessments ~ y ~d insurance p,renaiams, as the c:se ma,y be. when thr s~me aha11 beoome due and payabte. then the mort~agor shall paty to the mort~a`ee aay arnownt t~eoarssry to make np tba detkiency, on ar before the date when p~yment ai such ground rents, tsxea. s~aseesrnents, or inaur~nce pre~min~ms shall be due. If st any tinte the mort~ator s6a11 tender to th~ mortga~ee iu aooo~rd~nce rvitb the provisions of the note ' aecured hereby. full p~syaa~ent o! t~he ~ntti=+e iAdebt,edness repr~esented thereby, the mort~~ee d~wll~ ~n cor~- Pntin~ the smount o! wch ~redit to !he sceaast at tbe mortss,~r s11 p~ta made under i~ the provisioas oi (a) oi psrs~raph 2 htreof w6ich the morl~ee has not beoane obl~ted tfl p~y to the Federal Hausins Canmiaai~oner ~nd ~ny balau~s retn~iai in tbe funds accumulated under the pro~•isions n~ n i ~ oi (b) of said p4 8. Ii ther~ shatl be a detsutt w~dcr ~r oi the p~arvistam~ of ~his mort~~e~ re- is wNan~ in s lic ,~slle of the premisa~ oowere~ hs~ebj? ~ i! tbe ~?ort~a~ee ~equires t~lte property other- wira aftsr deisult, the mort~s~ee ahsll aPPrY. st the t~ne ot the t oi such proceeding~ or at the tirme the pr~~riy ~ur othuw~se acquir~d, t~e bai~aoe then r~maiairnt in the iunds iec,umutated under . (b) a! ~ra pb ~ precad as a credit s~airurt tt~e annoant of ppincipal theu t+~mdAin= unpsid under said a~te~aad s~ll proPer~j's~w?t a?,y p~l?ments w?hich shall luve been made nnder (4) oi s~id para~rAph. 4. Th~?t b~e will pay aU taxes, t~aeasm~eb, wa?ter nt,ea, aad dher scrvernmental or municipxl charses, ~ , ~D~K~~ ~