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Home My WebLink About0423 ~ aaid mortgago~ does heceby Iully wanaat the title to said land. and every po~t tbereoE. snd will deEead the s~me against the lawiul claims of all persone whomsoever. PROVIDED ALWAYS, aad tbeae pcesents are executed oad dellveced upoa the followias coaditioas. to Mit: } The matga~or a~rees to pay the matg~~ee. or o~der, the pciacipol au~o of ~ ~ ~ .~~MN ~ Dolbcs (S 14~800•0~ . .i~ ~s evidenced.b~r_a aote oE sv~a date heceMritb~ ~rith interest from date at !he ~ate of e1(~t Oi~~tl~ per ceat~o ( 8~ Per anaus~ oa tbe uap~id balae~ce unttl paid. Tfi~ said ptiucipol and ioterest ~hall be p~y~bl~ at tbe office eE ~j• stNirt ~r~~~ Co~sa~, Isa:, 300 l~ir~t Xatiosal as~t fld~. Oorai Gatil~~, ~loriat o~ at such other ploce as tbe holder of the aote awy designate in wrltln in monthly inatallmeats of O~s ~B l~OY1Cl'j~ ~~D a~/1 Oo1Lrs (S ~4~bS comotacing oa the flest d~y of ~O~! . 19 Z0. aad ea tbe first d~y at eacb moMb thereafter uatil tbs priacipe! sad intereat are fnUy psiid, except that the titwl p~ymant of pcincipal aad Iaterat, if not soon~r p~M. sUaU be dne aad p~yable on tbe first day of ~~M11~s'~ L• ~OAO. Aad sball duly. p~ooptly. and Iully perforo. discha~e. execate, etfect. complete. and compty ~rith pad abide by each end every the stipulitioos. ~~reemeets, conditioos, wd covenants of said p~o~issory aote ~nd of this awctgage~ thea thls ~tg~ge and the estate be~eby creoted shall cease ~ad be aull and void. And tbe matgNga fu~ther covenanis as folloMis: 1. That he ~rill pay the indcbtedness, as be~einbefore pravided. Privite~e is ceaerved to pay the debt ia whole, o~ ia aa aa~ount equal to one a mae oontbly paym~nts op ths priacipol that ace next dne au NK note. on tbe tirst day of ony moath prior to awturity: Proviled, hopever. tbat arltt~n notice of ~n iatentioa to enecclse such pcivllege is glvea at leaat tbicty (30) daya pria to prepoytpent; and.- pcavldad furtbe~, tbat In tbe eveat the de6t is patd in fuU prior to aiatucity and at that time it is iasu~e~d under tl~e p~ovisians aE tbe Notiawl Housio~ Act. he ~ritl poy t~ tbe inatg,asee aa adjusted pnemium char6e of one pei oentuw (1%) of tbe wi~ieal priacip~l ~aonnt tbereoE, eirept that in ao event shall the ~justed pce~nium exceed the a~geergate amount af preoium charges whlch would hRVe beea payable IE the moetgage had continued to be insured uatil mat~uity; such paymant to be ~ppliad by t!K aort- g~gee upoa its obligption to the Secretuy of Housins aod Urb~n Developaee~t ea ~ccount of moet~~e insnrance. 2. 'flwt. in order eiae fully to protect tLe secnrity of this ~art~tge, the ~at~~or. to~ether ~rlth; and ia addi- tion to. the moathly paya~ents nader the ters~s d tbe nde secared 6ereby, oo the ticst day aE eac6 awnth until the said aote is Eully poid. will pay to the e~tga~ee tl~e Eollavin` snes: (aJ M amouat suf[icieat to peovide tbe ~oldet bereot ~riW fnods to.par ths asst mortp~e L~sncaoce ~uee~iua if this instru- seoc andW~ Aot~ stcared bereby ats iosured, or . eanthtr cbar~e (in tieu or a tnortp~e tnsur~ece prea~itu~) it d?er ue 6eld by tbe Secretary of Housio~ aad Utb~a D~retopment, •s toAor.s; (i) I[ aad so lon~ ~s said note o[ ewn d~te and this lastroneaR are insnnd or ae~ reiasured mdsr tt~ pro~isions o[ the Natioaal Housiat Act. ~a ama~nt aufCicieut to aecnsalaN ia t6e hands ot the 6older oae (1) ~aont6 pHo? to ita d~te date tl~e aaaual aortp~e iusuraac~ p~eaius, in order to provld~ wcl~ iwider with tunds to pn su~praail~o to We Secretah of Honslns sad Urb~o Dereiopsent pursuant to t1~s Natloo~l Hoasiag Act, as aw.saed. .na appticsDt• R.~u- t.cions the+eunder. or (II) I[ and so loo= as sald aote ot cveo date ~ad this lnsttos~at arc Mid bp tbe Secnt~ oI Housit~ snd Urb~s De~elop- mcnt, a~aoathlr cbar~e (in fieu of s nort~t inwnoe~ prealwi) +a6lcb sba11 be in as ~eouet ~qwl to ou~-t~ralftA (1/12) oi ons-bat[ (yS) per centud ot the arer~se outst~ndia~~bai~nce due oe the aote cosputed witbo~t tdcln~ tato account delinqueacies or prapapae4ts; . _ (b) A sua~ eqrai to the swnad tents, it ~nr, ne:t due, pins tlu preaiwss that ~rill oen b~cone due aad p~y~ble on polietes _ o[ fire aad otl?er hasud in~urmce coverie~ tAe mort~ated property, ptus tsYes aod usessments a~~ dw on tl~e aart. ' `ated propertr (allsas estim~ted;b~? the mort~aQee) le~s all suss Nread~ paid tfiiesfo~ divided b~r the nua~r oi sont6s ' to el~p~e before one sioath ptio' to ffie d~te ~rhen sucd ~,ew~nd rmts, peeuinms. t~:es, and ~sses~seatt ~rill become de- I Unquent. sach sums to be 6e[d bp eiort~a;e~ in tn~st to pay safd pound rents, prest~fins. tat~s, aodsp~ci~la~sesswesb; E ~ ~ (e) AU payaents m~etioned in t6t two precedint subsecttoos of this para~rapl~ aad •Il p~ym~oU to be aad~ ued~r the ~te secured hersby sh~U be added to~etl~ee aad the ~~esau amawt theeeo~ shall b~ paid by We ooettasor e~cb ooaW is a sintle pa~et~t to be sppliad b~r tbe moet~ape to t6e tollo~rint iteas ia f6s order set torth: (n D~~ ~~Ket uader the contesM ot insorance aitb tl~ Secretary o[ Housie~ aod Urbaa DtnNopoat~ or awaffily ch~r~s (is liea o[ tooRgaQe insurance preeium), as tb~ case be; (In ~ronnd renb. t~:es. assesseseats. tire. aad otber 6asard iasur~oc~ PcNSiwas: (III) L~terest oo tbe aMe.secured bereby; ~pd (l~ amortu~Uon ot the princiql oi s~id oote. . Any deficieacy ia the sc~ount af suc6 aggregate moathly p~ymeat s6a11. ualesa made good by the oortgaga prior to the due date oE tbe ae:t such Qaymeot, coastitute on event af default under this mo~tgage. The mortga~ee awy collect a"late charge" ~wt to e:ceed two cents (Z~) fa each dollar (=1) of eoch p~yment sore than fifteen (15} days la errears to covec the extn expease involved in haadling delinquent paymeat~. 3. That if tl~e total of the paymeats ande by t6e matg~or mdec (6) af ~wra~op6 2 pcecediag sl~all e:ceed the amount of poymeats actually made by the moctga~, Eer gro~nd eents, taues and assessseats aad iasnrance premiums, os the case ~y be. such e:cess shall be credited by tbe wartp~ee oa sabsequent poyarcnta to be aade by tbe mortgagor. tf, howev~er, the monthlY PaYments awde by tl~e oortgo~or ondec (6J of poregcapb 2 pce- ceding ahall not be sufficieat to paY B~onnd ~ents. ta~ce~ and iisaessmcnts ~nd Insuraace premiums. as tbe c~e may be. ~rhen the same shall become due and payable. tl~ tLe mact~,a~a~ sb411 P~Y to tbe ooctgrgee aaq saoaAt necessary to ewke up the deficieacy, OII Of blEO[e ~ dY~E MblQ Qey10lp~ ~ i11C~ gROQ!'!a i~llb~ taxes, assess~ts, ~ oc insuraace premiums slull be dua If et ony time tha moctgago~r sIIYU ~lQdQf ~O Ul! a01'~~~ 1D 8CC0l~itiC! pl~i1 tbe provlsions af the nate secared hereby. full paymeat of t6e entire indebtedness repe~eseated thereby. tl~e moct- ~ gagee shall, in compnting tbe aawunt aE such indebtedness, credit to the account af Ebe mo~t~agor all payments made under the pravisions of (aJ oE p~ragcaph 2 hereaf wbicb tbe moctg;a~ee l~as not becoa~e obli~ated to pay to - ~ tbe Seceetary of Heasiag and Urban Develope~ent aad any balance re~wi~ing ia the innds acc~uauloted uader the proviaions ot (bJ oE said paragraph 2. if thece stwll be a default nnder ~ay d the provisioas of this s~ortg,age~ ro- ~ sulting ia a pnblic sale of the premiaea coveced x:eby, oc if the moct~a~se ~cqoires tl~e property otLecwise aftec defantt, the ~octga~,ee s6a11 applq, at the time of the comoencement af snch proceeding~s a at tbe time tbe prop- edy is otherwise acqoired, t!u balanoe then remaining in tbe fmds 4ocomulated under (6J af paroB*aP~ 2 PK~~6 as a credit againat the amount of principal then remainin~ napaid uader said aote and ~hall psoperly adjwt any QaYrt+eats which shall have been made undec (a) of aaid para~ph• 4. Tbat he wiU pay aU taxes, asaessmeats, aater rates, apd other goveror~entei or mw~cipol c6uees, fines. or impositioos, for ahich pcavision has not been made hereiabefae, aad in def4nlt tbemif tLe nact~agee may Qoy the same; aad that be ailt promptly detiver tbe official receipts thecefor Co the oat~pgee. 600K ~ ~ E ~ ~ Y _ . - _-~~~~i _ -