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Home My WebLink About2219 . ~t~' . Peovma~ A~.w~YS, ~nd these pt~esenta are executed and delivered upon the iollawin~ conditiona. to wit: ~lg !!'ll1~l' ~d t0 ~1i1}1 ~181ti1QP't$~$~8+ Or O!d@T~ p~'~DC~~ it1I11 O~ • ~ ~ • • ~ • w • ~~s~~~~~`T~~~~•••.••••• ~••..•••.t~~ Doll~ra (i 9s650.00 ~s evidenoed br s ~ote oi even d~te herewith~ with interest irom date at the rate o! !TR i1D GNi H~L1~' P~' ( 5~ 7,/~ 9b ) I~er annwn on the un- paid bAlsnce until paid. The said principal and interest ahAA be pAy~ble at the office of OI+~IIN s.M~oO~[IC[ CO., Ilx.~ St. Prt~r~ba~, ll~e3da or st euch other plaoe as the holder oi the note msy deeigaate in ~vriNnQ, in nwnthlr inataUments oi ~Z~TT ~R A~ • • ~ ~ ~ • • ~ DOII81Y1 ~ • 0~lllYlB=ICIII~ Oll the 8rat d~y oi ~ ,~18 66 .~nd on the ~rst dsy of es,ch mopth there~iier uni~il the prindpal snd interest are iu1~Y Pf?id. a~ccePt tlu~t tha flnal pNmaent oi princiinl and intetwt, ii aot eooAer PAid. sh~U be dne snd p~yab~e on the flrst day oi i0i . . 1996 And shall duLY. P~~Y. s~ ~4Y ~om?, ~~~?i'Se. exxute, eRect, oomplete. and oomply with and abide by eaclt and ever~r e atipulations~ a,~reements. conditions, and covenanta oi aaid promieaory note aad oi this mort~~e. then thia mort~a~e and the eatate hereby created • shitil ceaae u~d be null sud void. . , . , . . And the tao~t~ag~or farther oov~uu?ts ar foUor~a: = 1. Th~t he ~vlll ps,y the inclebtedneas. as hereinbefore provkied. Prlvilege ia re~earved to pa~r the debt ~n whole, or in an amount equal to one or more monthly p~syments on the principal that ar~e next due an the note. on the tirst day of any month prior to maturity : Provided. however, that written notice of sn intQnt~oa to exerci~s such prlvilege is ~ven at least thirty .(30?'_ da,j?s~ prior tb pr~~p~aymrnt: ~ i~ad. Provided further, that w the eveat the debt is p~id 'w iull prior to m~turity and ~t that ime it is inaw~ed nnder the provisions of the NaWonal Ho~aing Act, he will paq to the Mortgagee an ad~uated premium char~e oi one per oentum (1~6) of the original princ~pal amouat thereof. except that in no event aha11 the adjuated premiwn excxed thea~gregate amount oi premium charg^es w6ich would have beea p~ayable if the mort- ~a~e h~d oon~inued to be inaured until maturity; such p~ayment to be applied by the mortgagee upon its obli~tion to the Federal Houaing Commiasioner on ~a~ount of mortga~n insurance. 2 That, in order more iull,y to pmtect the aecnrit~ oi this mortga~~, the mortga,~or, to~ether v~?Ith ~ad in sddition to, the monthlypayme nts under the tenas of the note aecured hereby. on the flrst dsy o~ eich month until the said note ia fully paid, will pay to the taortgagee the ioUowia~ auma: (a) An anaunt an~cient to provide the holder here~ with funds to pay ffie next a~ort~aS~e inannnce premium if thie instrument and the note eecured hereby sre inaured, or a monthly charg~e (in lieu of a mortga~e inalirance premiwn) if they sre held by the Federnl Iiousing Conunissioner, as followe : (t) If snd w lons as uid ~wte oi even date and this indrument sre inwred or are reinsnred ander tbe proviriona oi the National Housing Aet, an saionnt sn~eient to ~ecumnlate in tbe handa et t1~e bolder oae (1) month prior to ib due dste ths sanusl mo inwrarwe prerrdam. in order to pr~ N a ~ hol~er with lnnd~ to pay s~nch premium to the Federal~oadn~ Coamniisioner panaant to the Housing Aet, as am~nded, snd appliabls R~nlstioru thereunder; or (u) If sad w bns as said ~ott~ot wsn dat~ aAd tlw instroment sre beld b~r the Federal Ho~n~ Commis- sioner. a monthly ehar~e (in liw ot s mortsa~a inwranos premiua~) ~?hich ahall be in an anwunt eqaal to one-Melith (K:) oi onthal! (~!i ) per oentum oi the averag~e ont~tandin~ balanoe due on the note oanpnted witia~t talcing into aeeouet ddiaqpenttes or p~p~ynae~t+. ~ (b) A sum equal to the ground rents. ii any. n~ct dt?e, Piw the preraiw~ns that will next beoome due and payable on policies of lire uid other hassrd insura~x coverin8 the mortgaged property. plns ts~cea and asseasmettts next due on the mort~ased~roperty (a11 as estimated by the mortgagee) lese all suma already paid therefor divided by the number of motithf to elapae before one month priat - tu the dnte when such Smund rents, premi~.m~, tsucea. and saseastt?ents will become delinquent, such sums to be held by mortgagee in trust to psy asid ~t+ound rents, premiums, tsxes, and special sasess- ments; snd ~ . - , - ~ ' (c) AD psyments mentioned in the two preoedina ~bsections of this psrsgraph and sU pay i ments to be made under the note sec~t~ed hereby ahall be added together and the te amount ~ thereof shall be paid by the mortga$or ead~ month in s singk payment to be ap 'ed by tbe mort- ~ ~s~ee to the lo~win~ it,ema in the o~+dPr set iort~t : (t) praninm charRes ~inder the eontraet of inwrat~c9 with the Federal Honsing Commissioner. or nwnthly chsrge (in lien ot mortgsge inanrance pr~ninm), as the case msy be;. (n) ~round ndib, tate~, aa~aun~ts. ~re. aad oLher Lasurd fnsnrseoe prebumea; (m) ~nterest o~t t1~ nota ~eenred hereby; at?d (tv) amortizstia~ gf tbe principal oi uid not~ Any deliciency iri th~ a'~oun£ of anch aggregate tnonthly ~ayment ahalf.' bnleas made g~ood by the mo~ r prior to the due date of the next such pa~?ment. oonat~tute an even of defsult under this mor~ ~age. The mortgagee~niay cullect a"latc. charBe ' not to e~toeed two cen~s`~2t) for each dollar (il) oi each payment more thsn lifteea (16) daya in urears to oaver the extrs ezpense in~rolved in handling? delinquent psymenta. - S. Thst if the t9tal of the payments raade by themortgagor under (b) of psragraph 2 preceding ahaU e~ceeed tiN amovat ot psyments aet~;~nade bp the mortgag~. for ground r.ents, taxed aad ~aaes~menta rg aad insuranes Pr~miwaw ~s. the c~se mq~? _ auch exceas 1 be credited by the Anortgaa~e Qa aubsequeat ~ p~y~ae~ts Zo ba mAde by tbe ~'•~..however, . montb~y payraexit~ nu?de by the` a~or~a~ ~ uu u ~ ander t b) ' o~ P~ra~raph 8 preoediat shaU not be ~ent to psli~ d ren~s;; ts~es aud ~sessmenta and insvran~o~e pre~niuma~ as the ease may be, whe~r the aame ~D beoome d~ and -p~?able, ' th~en the mortsag~or a6s11 pW? to the mort~eb aq~ ao~oubt neoeessry t~ n~ake np the ddkiitney; on.vr before tke d~te ~~vhai~. p~rm~t ot an~h tronnd 'reatsr° tases. ares~~ or iniursnce pratium~ ebaU be due. Ii at sny time mort~s~wr s6aU te~?d~tr ~O tltie mOrt~a~~ee in aooo~rd~uwe ~?it6 tt?e. provjsioas.. of the note aece~red h~eby. fnllp~ynm~t oi the entire indebtednc+~s repre~ented tl~+eby. the nart~ee ihsl~. ;n com- putin~ tbe t n~ s~t_i~d~bteda~r, aredit.tv the ~ooonnt oi tbe nwtt~s~or aU ps~tneats made under ~n the p~rovidNa a) oi pf~r~rsph 2 hereat whicb the mo~a~e has nat beoome obl~ated to pay to the Fed~~al8ooain~~ sed any b~alsnce . ii~ ti~ funda aocumulated under the pro~ isioru ai, tb) -a~ n16 ~ _ I! ~~iaU bs a d~la~it~ a~? o# the pro~visions oi this nwrt~s~e. re= sultia~ ia ~ lia isl0 0~ the pe+~mi~aoa pm?ered het+~bX or if t4e mort~ee ae4uires tli~s pr~DertY .otlre~ wLs att~r ~iwlk the mort~a~e~ sha11' ap , at tbe t~rne o~ tbe t~ euch-proix~edin~s or st t~e tlme ths prv is atherw~se t,hea x~ainin~ in the innds aocumulated undes {b) o! 8 p ~din~ as a credit' " ~ap~ oi prindpal thea remainin~ anpsid under ii{d not~e sb~ P~perl~ y adi t~ ary py?menti i?bicL ah~11 hsve bew m~de under (a) ot asid paraaraph. Tlut h~ wiil ~r all tues, a~arts. ~?ater rstes, and other ~on?ernmental or p h rnm ~°i:,~F go~~.46 41'~' . , _ : o . . ~ ~y: r_ } _