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Home My WebLink About2299 r.a.-. Ia~..h J.~.~ r. • ~ • • .~y_~, n . h ~L:~. . •l~.. .`..e e ~ w ~ . r . . r . . . . . y~Yi~J~.i..ww1~~.~t1L1"'l:,.Vy~~l' 1~. +.w:.~. .ly ~ ~ . . • t ~ , ' • P~oov~ Az.wsYS, and these presents.are e~ecutcd and deiiverad upa~a the followin~ conditians. ~o wit: The martsit~nr ~e+eea Lo tha mart~g~ee. or order. the principal stun oi Pourteen thoua~nd f ive Hundred fifty and No~O : Dollars 14, 55~. 00 ~a evid+enaed by a naGe oi evea d~te herewith, with intereat irom d~be at the rate oi Five E~ One-Quarter per oentum ( 5~ 96) per annum on the un- ' psid balanoe until ptid The aaid princip~?1 and inter~st ah~?ll be payable at the otflce of _ ATIOD FINANCI~?.L OORFORATION ~ or At s~ch other plaoe ~us the hotder ai the nate,~ay de~Ig~nute ia wrltinQ~ in monthly in~ts~llmenta ot Eighty and 46/1Q0 ---~--------------~ollars 80.46 c~rnmencing on the flrst d~y oi O~ tober ~ 1965 ,~nd on Lhe tlsst dsy o! each month thereafter until the prlaaipa~l a;ad ~aterest ~u~e fuDy paid. eaccept thut the flnal pa,y:nent of prindpal and interest, ii not eaoner . pi?id. ehall be due ~?nd p:tysbk on the flrat d~r oi Sep~ember ~ 19 95 ; And ah~ll du17. AromptlY, and tully perlorm~ dixharge, execute. effect~ complete. ~nd comply with and abid~ by each ~ad every khe stipulstions, a~re~emtnta„ conditions„ snd covenanta of said promisaory note wd oi thi~ mortgsn, then this mortga~e and the estate hereby crented shall. cease and be null and void. And the mort~or further covenants s~s fotlowb : ~ 1. That he will pa~y the indebtednesa, as hereintyefor~ prnvid~ed. Privilege is reaerved to pa~y the dabt in whole~ or in >eu aetto~nt equul to one or more monthly pa,ymeats on the principal that ~re nent due on the note, on the flrat d~~ o! any month prior to maturity : Provided, however~ that written notice of an intention ta exerci~ae auch privilege ia geven ~t lex~tt thirty (30} dsys prior to pr~payment; and, provided further, thut in the event the debt im paid in futl prior to maturity xnd aL thaL time it is inaured under the provlsiona ot the Nstional Housin~ Act, he will pary to the mortgag+ee an adjusted premium ch~rge ot one per centum (1~6) of the ori~inal principal xmount thereof. except that in no event ahall the adjusled ; pnmium txceed t~e ~?ggregate amount of premiam chargea which wauld have been payable if the mort- i taae hud continued to be insured unti! maturity; auch psyment to be applied by the mortgages upon its ? oblfgution to the Federal Housing Commissioner on account of mortgag~e inaurance. : 2 Ttu?t, in order more fuAy to pmt+~ct thc aecurity of this mottgage. the mortgagor~ together with, ~?nd in a~detion to, the monthly pa~?ments under the terms of the note accured hereby~ on the Rrst day of eauch month uatil the said note is fully paid, varitl ps~y to the nnortgagee the foltowing sums: ~ (a) An amo~nt aufllcien~ to provide the holder hereof with funds to pay the ne~ct mat~tgage ;3 insurance premium if this inatrument and the note aeeured hereby are inaured, or a monthfy charg+e . (in lfeu nf a mortgage insurance premium) if they are held by the Federt~l Houaing Commissioner~ as follaws : (z) Ii snd eo long u wid note oi even dste and U?ia iastrument sre insured or are reinsured nnder th~ pnnvi~ns of the National FIous~ng Aet, an amonat aa~lcirnt to ~eeumulaSe in the hsnda of the holder one (1) awnth prior tti it~ due dste tha wnnw?1 moit~ages insuranoe premium, in order to pro~ride such holder with tundr to pay such premium ta the F'ed~arai Hoasirn~ Commiasianer parsua;nt to the Nationat ' Aousing Aet; ss amended~ and npplieable Re~vlAtions thertumkr; or ~ . (n) Ii ~u?d so long Rs said note af even date and this instxum~?t are held by the Federal Aonsing Coramir . ~ y r ga sioner~ a monthl eha (in lieu of a mortg~aga insura~nce pruaiwn) whieh shstl bc in sn amount ~ ' equsl to one-twelfth ot one-h~?li ('~i ) p~r centum of the ~verage outstandin~ bslr~nce due on LAe . note computed without tsking inta sceount delinqueneies or pt~epayiaents; • (b) A aum equal to the ground rents, if any~ neut due~ plas tlte premiuma that witl next becorr~ . dne and payable on policies of f~re arid other hazard insurance covering the mortgaged property, plus . ` t,~es and sasessmenta next due on the mortgaged property (all as estimated by the mortgagee) leee ~ ~?ll sums already paid therefor divided by the number of munths to elap~e before one manth prior ~ to P.~?e date when such ground rents, premiums, taxes, and sssesaments witl b~ome delinquent, such sums to be hela by mortgagee in trust to pay said ground rents. premiuma, ta~ces, and special assess- , menta; and - ` (e) All paymenta mentioned in the two preceding aubae~tians of thig paragraph and a11 pay- ments to be made under the note secured hereby shall be added tog~ether and the aggregate arnount ~ thereof shall be paid by the mortgsgor ~ach month in a single Fayment to be applied by the mort- ~ g'agpe to the following items in the order set forth: ~ (I) premiam cha=qea under the eantrsct ot insuranee with the Federsl Houaing Commiesioner~ or nrwnthly eharge (in l~eu ot mortga~ insear,~nce pnmiwn), ~ta the caee may be; 4 (ii) $x~onnd renta~ taxts, aasesanenta, $re, snd otber hxzard insurance pretniur~a; ~ ([u) ~nterest on the note secu~Yd henby; and , (tv) auwrtisation of the prin¢ipsl ot aaid uoUe. ~ Any deficiency in the umoant of aueh aggregate monthly payment shall~ anless mude g~ood b~? the mortga~or prior ta the de~e date of the next su~h paiyment. constitute an event of default under thi~ mort- f ~xge. The mortga~ee may wltect a"late charge' not to exceed two cente (2¢) for each dollar ($1) oi ; eau:h p~yment more than fiiteen (15) days in arrears to cover the extra expenae involv~ in handiing ~ delinquent payiaenta . ~ 8. That it' the total of the payrnenta made by the Ynartgag+or under (b) ot pazagrapt? 2 pr~eceding al~~ll ~ exceed the Amount of payrn~nta actually made by the mortg~e, for Around rente, taxes and asaesaments i snd insurttnce premi~aet, ~ the case may be. such e~ccess sh~fl be credited by the mortgagee on subaeqdent , p~tyments to be mis~de by Lhe mortga~or. If. how~,wer~ the monttily paymenta made by th~ mortg3t~or ; under (b) oi para~raph 2 preoedin~ aha1l not be wfScient to p~,y ~rauad rrntt~ tsxea ~nd aasesamenta f and insuranc~e precni~ u the case may be, when the same shxll beowne tiue an~ pxyAble then, the 1 mo~r ahall p~y ta t~ mart~re any ~uaannt necessary to auke np the ~ei~ciency, on or ~tor~ th~ 1 date ~vhen payment ot wch ground t~enLa~ tuert. assessmenta, or insnr~ace premiums shall be due~. If i at ~y tima the mart,~ar ~hall tender to the mort~agee in aecordxnce with the prnvisions of the iiote secured hereby, tull pa,yment of t~ae ~tir+e indebtedness npresented therebq, the mort,~s~ee shail, ;n com- putins the amount ot snch indebtedne~a~ credit to the aceannt oi the n~ort~agor all ps~nents made u~ider the pravisioru ot (aj oi para~raph 2 beraoi v?hich the mort~~gee has not becoma obliaated to Ps?Y to; the F'edent Housin~ Coanmiasioner ~nd anr balurce r~nsining in the funds accumulated under the pro~•iaiona ; i of (b) at a~tid p~r~r~rpL 2. Yi there sb~ be ~ detsult aader aa,y af the provisiotu of this mortgage, re- suttinY in a publie ule oi the premiaes covercd hereby, or it t6e mortga~ee a~quires ttie pmperty other- ` i w~ise atter ddsult,~ the rnort~~ ~thaU sPpIY~ st the time of the oowmencemcnE of such proceedings ar at , the t~e the prn~y ~a otherw~se ~oquind, the bslance then remaining eu the fnnda ~tccumulaLed ander ( b) o t p~ 2_ p r e c e di n ~s s c r e di t s~i n s t t h e u~wu~t oiprincip~l then remaining unpsid under ~ said nole~sh~ll pro~erly a~jnst any payrment~ which ahail have beeA ms~de under (a) oi said pura~rraph. i ~ 4. That be will p~,y atl t~utes, ~saes~menta, waGer rxt~es, and+~her ~overnmental or municipal chargea~ t ; ~ ~ g~ ~16 498 ;