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property described in and encumbered by said mortgage~, ~vithout
pxioxity of the oAe ovex the other, to secure the pa?yment ~of the afoze•
said gross and consolidated pxincipal indebtedness xemaining unpaid in th
sum of $522,200.00 and i.nteYest thexeon at the rate of five and one••fouxt ,
per centua (5'~ij pex anuum on the unpaid balanoe--up to and inoluding the
date of final endorsement of the consolidated indebtedness fox insurance
by the Federal Housing Commissioner as evidenced by hia signature on
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each of said notes in the amounts of $4~8~000.00 and $44,200.00 xespectiv ly.
after said final endorsement
Intexest/shall be payable at the rate of thYee per centum (396) per annum
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on the consolidated amount af $522,200.00 and on the unpaid balance until
paid.
Principal and Interest sball be paid in the following manaer:
In~exest shall be due and payable monthly on the lst day of
~ September, 1967 and on the first day of each month therea?ftex until the
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~gross and consolidated principal indebtedness is fully paid. The first
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pxincipal and i.nte=est payment i.n the amount of $1~900.73 shall be due on
the f3xst day of April~ 1968 and thereafter on the fixst day of each
succeeding month until the 465th installment has been paid~ which said
~ payment will be made at the aaturity and final pa,ymeat date af this Note '
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~}which shall be the lst day of Decembex, 2006. ~
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5. The moYtgagox hexeby agrees to pay said gross and consolidat~ed
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, :`principal inciebtedness now xemaining unpaid and interest thereon in month ~
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~ installments as pxovided in paragraph. numbered 4 hexeof. ' ~
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;i 6. The xights, privileges~ conditions and limitations of pre• ~
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:~payment shall be i.n accordance with the teYms and pxovisions of said two ~
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;;mortgage notes. - ~ ¢
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j1~ 7. The rights and xemedies of the Ba?nk in the event of default j
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;iby the mortgagor shall be governed by the pXovisions of said pxomi.ssory 4
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'snotes and mortgages. ~
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~ 8. The Bank shall hold the property encumbered by~ described ~ ~
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~;in and xefexred to in sai.d tvro mortgages upon the same conditions and ~
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;;uses set forth zespectively~ in each of sai.d moxtgages, as modified and ;
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'~supplemented by this agxeement~ as security fox the xepayment of the ` ~
!fgross and consolidated principal indebtedness now unpai.d in the , ~
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