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Home My WebLink About2906 ~ ' ~ ~ ~ ~ Y?+t.+\.L . y.. -h~1'r P.N~ sL~:• 7~r~M ' M.`Y. riG _ _ ' _ _~t~ . ~ ` ~ ~ ' ~ . .ti ~ PbR Yr?i.us RI~V~, the undsrsi~t~ed vF~nu~~ixt'° p~ t, : ~ ~ t..~ , ~ ~ ~~.mL1 R~i ~CCd~IC! C0~'pCQ"t~On ' • • J ~ ~ ~ ; . . . . CO~pO~i~~Oil p~7111Md iA~ t~ll~ WId~R Lhe IaMrs of ~ 8tat~,ot Ix~diana ~ ~ or order~ the prlncipal am at '1tiwlN ~01fMpAd ~ ib~tr Stmdred ~md lb 3rOfJ-~~~~rw~~r~~~w~~~~~~~~~~~w~r~~Dall~ur~ ]~2 ~00.00 with i interest irom date at the ri?te o! ~'iw wod aie-qviartier per oentuum ( 5•~k 9b ) P~ annum on the unpsid balance until p?aid The asid principai ~d intereat ahaU be pRyable st tha ot6oe oi llstiaosl 8a~er llcc~yt~r~ce Corpaarst?iaaa in j~i~ . or ~?t such otlrar plaoe as the : holder msy desi~nate in wr~tin~~ ~n moathly installments oi 8ixt~~ Ei~t and 57~100-~~~~~r~~~~~~~~~r DaUs?rs t# 68.57 ~r~ncncing an the flrst ds,y o! J~r' ,18 65 ,~nd on the flrat day of each month thereaiter until the principal a~d interest at~e iully paid, exoept th~?t the !lw?! payrae~nt of the entire indebtedneas evidenoed hereby. ii not aooaer psid. shall be due aad payable ~n the fli~at day o! ~e . ~ 19 ~j. Ii def~?ult be made in the psyment oi any installment under this nnte, and i! auch default is not made , aoad prior to the due date of the next auch installment, the entire principal aum and ~acrued intereat shaU ~t once become due ~nd payable without notice at the option oi the holder of t~his note. Fsilure to exercise thia option shail not conatitute a waiver of the right to exerciae the same in tD~e event of any subeequent deisulk In the event af defaul~ in the payment of thia note, i?nd if the same ia collected by an attoraey ~ si law~the underaigaed hereby agree{s) to pay all costs af ooUection, inciudin~s re~sonsbde attorney's fee. Presentment. protest, and notice are hereby waived. ~g~..Alvln A. Ke]3Y ~ (BRAL~ . ~ - ; i ~e~-- ~e1],Y (~SAL~ . Gs~colyn 1Ge].~,y And ahari du1Y. P~~Y. ~~1Y Pe~orin, diachar~e, execute. effect, complete, ~nd eo+mP1Y w?Ith xnd ~de by each ~tud every e sti{wlationa. ~reements~ conditione, and covenants of said promissorY note wd of thia mort~xg~e, then thia mort~s~e and the estate hereby created ahnll ce~a~e aad be aull and void. And the mort~or fnrther covenanta as foUows: 1. That he will pay the indebtednesa~ as hereibbefore provided. Privilege ia reserved to pa~y ths debt in whole, or in an amount equal to one or more monthly paymenta on the principal that are next due on the note, on the firat day of sny month prior to maturity: Provided, however~ that written notice o# aa1 ~ intention to ex~rcise auch privilege is given at least thirty (30) days prior to prepayment; snd~ provided . f~rther, that in the event the debt is paed in full Urior to, maturity and at that time it i$ inaured under the pravisions of the National Housing Act, he will pay to the mortgagee an adjuated premium charge of ~ one per centum ( y°i6 ) of the original principal amaunt thereaf~ except that in no event ahall the adjusted premium exceed the aggreSate amount of premium charges which would have been psyable if the mor~ gagc had contiaued to be insureci until maturit~• ; such payment to be applied by the mortgagee upon ita abligation to the Federal Housing Commissioner on acxount of mortgage insurance. 2. That~ in order more fuUy to protec.t the security oi thia mortgage~ the mortgagor, together with and in addit~on to. the monthly payments under the terms of the note a~cured hereby, on the ftrst day o~ e,ach m~nth until the said note is fully paid~ will pay to the mortgagee the foUowing sums: ~ (a) An amount euf~icient to provide the holder hereoi with funds to pay the next mortgag~e ~ insurance premium if thia inatrument and the not~ secured hereby are insured, or a monthly charg~e (in lieu of a mortgage insurance premium) i~ they are held by the Federal ~Ioueing Gflmmisaioner~ as follows : ' (t) if epd so lon$ ss r+~id_note oi even date snd this instrumer~t are inaurqi or sre reinaured under the proviaions oi the National Houaing Aet, an smouiit sut~fcient to aacuraula?te in the hands of the t?older one (1) menth prior to its due date the annual martgage insursnce preminnn, in order to provide sucb holder with fundr W pay surh premium to the Federal Housin~ Commissioner punuant to tbe National ~ Housing Aet, as amended. snd applicabla Re~ulations thenunder; or (_i) If and ~o long u said note ot even date,and th~s instrument are held b the Federal Houaing Commis- ~ioner, • monthly chsrge (in lieu ot a mortgs~e in~urance p;Gmium~j vrNich,phall be in ~?n utsonnt equsl to one-twelfth (3yz) of one-half ('ls ) per centum oi the aversge outstanding balsnce due on the note toraputed without txking into sewunt delinqueneies or ~repayrments; (b) A sum equal to the ground renta, if any, next due, plus the premiuma that will next become dne and payable on policies of ftte and other hazard insurance covering the mortgaged property~ plua taxes and ~tasess~menta next due on the mortgaged property (ali sa eatimated by the mortgagee) leas a11 sum~ already paid therefor.divided by the number of munth$ to elapse i~efore one month grior to the dste, when such ground renta, premiume~ taxes~ and sssessments will become delinquent, auch ~ aurns to be held by mortgagee in trust to pay said ground rents, premiums, taxes, and special aaaess- ' mer~ts; and ~ : (c~ A21 payments mentioned in the two preceding $ubsections af thia para~raph and atl pa?y- ments to be ma4ie under the note secured hereby shail be xdded to~ether and the a Ate unount thereof ehall be paid by the mortga~or each month in A~in~l~ p~yment t~ tye app '~y the mor~ ga~ee to the following items in khe order set forth: (t) premiom ehar~ ateder the contraet ot insursnce w?ith the Federal Rousins Commiwioner, or mnnthly cl,args (iA tita o! mort~?~ insnr~ner preu?ium)~ ~ th~ csN tnay la~; (ti ~round reats, taxss, assea~n~nts. Sre, and other hassrd insnrsnoe pratai~uns; . (ui; ~nterest on tbe rnaR~ ~ecnred hereby; and ~ (~v) Rmortisstian of tbe psineipsl oi said note. ' ~ Any deficiency.in the awonnt of such•ug~Sre~te n3onthty payment ahall~ unless made g~ood by the mort~a~or prior to the duc date of the next such pa~?ment. oonetitute an event of detAUlt under thia mort- ta~s. The mort~sgee msy cvllect a"l~t~ char~` not to exceed two ~enta tor each dollar (~1) o~ : e~ch psymeat more than Riteen (15) daya in arr~rs to cover the extra expenae involved in handlin~ f ddinquent payineuta. ~ ~ 3. That ii the totul of the paymenta made by the mort~or under (b) oi paragraph 2 precedit?~ shs~U e~eeed the ~tnount of qayments actually made by the martga~. fc?r ~round renta. ta~ces and aabea~rrienta . 6pOK~~~ 5 v ~ ~ ~ ~ .