The URL can be used to link to this page

Home My WebLink About2398 ; ~ ; r,~ ' ~ ;3i~~ ~ said mortgagor does he~eby fully warrant the titte to said lond. ae~d every part thereot. ~nd wiU dttend the same +r~aiost the lawful claim~ of all penons whomsoeve~. PROVIDED A1.WAYS~ and these pres~nts are exec~ed ~nd dellvend upoa tM EoUowin= coadltions. to wit: ~ rg tga o a rees to p~y tt~ mat~a~ee. o~ ader~ the priacipal suv oE ~ Dollars (S •s evldenced by ~ nots of evM date herewith~ with intecest from d~te at the rate ot ~iy~ i OIN"'h1! per ceatws pe~ aaaum on the ~mpoid balance until peid. The said principol and I~terest shall be p~yabls at the oEfke oE oi~0~.'~i~ON, 111w~!!i! ~ O~M • 0011~. 100 11r~C ~~ts+wt. Jaok~oMill~ • lLoaeid~. a at such other place as the holder oE the note a~y desiguate !n vnitia~; ia ~oat6ly installaaents of ~ Ilors (i~N coameaciag oa • the- first day of ~ . 1~ . and on the first day of eoch moath thereafter uatll tbe pdncipol and iatecest ace fully Paid, exce tlwt the fioal went of priacipal and interest, if aot sooaer peid, shall be due and payable on the fir~t day oi . Aad shall duly, praoptly. and fully pedo~m, discbarge. execute, effect. coa~plete. and comply with aad abide by each and every the stipulatioas. agreemeata. conditiaas. aad coveaaats of soid pcomissoy note aad of this mortgage, then tbis moctgage and the estatt hereby created shell cease and be aull and void. And the..,pvoRt~ac.Eycthel4 cOvenq#~~s.{Is.fo1,14r~s:. . , . ~ . ~ r ~ ~ : . 1. Thet he ~rill pay the indebtedness. as heceinbefore provid'ed. PtiVilege is~reservea to paj? tbe debt in whole. or in s~ emount equal to one a more monthly p~yments on the priacipol that are neYt due oa the aote. on the first day d any moath prior to maturity: Provided. however. that wrltten notice of an intention to eYercise such prlvilege is given at least ~tAlrty (30) days prior to pcepaymeat; and. provided further. that in the event the debt, is paid in full prior to ni~tiiri~~~at•tha~tliee`it is e~ared diwlit tb~~tbns of•th~;lytla~ej~~o~i~ Ac~~ he will pay to the mortgagee Qn ad~ted Pces~ua.dwcge-4E~osR•~~ o~te~A,El~) ef tbe~ori~,jsilrP~~it~t:a9~pov4~t thereof. except that in no event:s~lL~:adju~sk.pcee~i~ e ee~~.tbe_a~ a~qqy~u~; ;j~iRiuo.ch ~s~v wouldhave been payable if the matgage had oontinued to~ insuced until matarity; suc~" payment to~ appl~y the mort- gagee upon its obligation to the, Seccetary of Housing aad Urban Development oa acconnt of mortgp~e insu~ance. 2. That, in order moce fully to protect the security of this moctg,age, the mortgagor, together ovith. and in addi- tio~ to. the monthly payments under the terms of the note secured hereby. on the first day of ea~h month until the said note is fully paid, vvill pay to the moctgagee the follawing suais: (a) An amount su(ticieat to p~ovide the holder hereof with funds to par the ne:t nwrt~aQe insur~nce premium it this instru- ment and the note secured hereby are insured, or a moatl~ly chuQe (ia lleu o[ a mortQage Insurance premium) it ther are held by ihe Secretary of Housin~ and Urbaa Development. as tollo~rs; _ - (1) If and so long as said aote o[ evea datt ~ad tlus instrnseat are insurod at ar~ reieaured under the pco~isions ot tLe I~ational Housing Act, an rmount sufCcieat to aceumufate in the h~ads o[ t6e 6older one (i) moath prior to its due date the annual mortQage insurance premiuQ, ii? order to provide such holder witb tunds to pay suchpremlum to the Secretary ot Housing and Urba~ Development pursuant to the I~latioa~l Honsie~ Act. a~ amended. and ~pplic~bte Reeu- tations thereunder; or _ , (II) If and so tong ra said note of even date and this inst~umeet ~re held br the Sec~etary ot Housia~ ond Urbaa Develop- ment, a monthly charge (in lieu oi a mortg~ge insnr~nce peesium) which shall be in ae amonat equal to oae-nvelfffi (1!12) o( ono-6alt (y~) per ceotum ot the average outstondiag balaace dne oa the note cosputed writhoat takia~ into account deliaquencies or prepaymeats; (ti! A sum equal to the graund'rents, ii any, neut due. plns the premiums t~at +vill next bscome ~e wd parable on policles of Cire and other hasard insuraace covering tbe mort~a~ed propetty, plus t~=es ~nd assessments ae~t due on t!M mort- gaged property (all as estia~~Yed bp tl~t morFQa~ee) Iesi ~lt. swas ~Ire~df paid therc[or divided by t6e aumber of months to elapse be[ore one montd prior to tl~e date wrhen such ~round rents. preaiums, ta:es, aed atsessments will become de- linqueat, such sums to be held by maet~a~ee ia trust to p~r;s~ld`~ouad eeqts, prlmlWqs, tues. ~ndspecLl~ssessments: and • (c) All payments mentioned in the twro preceding subsections of this para~aph and all paymeats to be made under the aote secured hereljy s~all be added together and the a~~e~ate smoaat thereof ahall be paid b~ the mort~a~oc eaeh month in a- singie papmeat to be applied by th~ neortQaQee to the toliowria~ items in We order set forth: ~ (n Rreminie cMt~ef undet tfie e?atract of -insunace wr~tb 'l'~e ~ece~u~r,tif Ho~iie~ aM~U~bu D~velopmeat, or monthir ~ cha~e. ~s~1?._d ~oirtt~[c. ~r+rts~ Rnsduo~). rttthR~ca~e o~! ps1; : . _ _ - . (II) Qround rents. ta:es, aasessments, tire, aad other haz~rd iesuraace p~emlums; ~ - ~ (III) interest on the aote secursd 6ereby; and (I~ amort'uation ot the priacipai ot said note. ~ Any deficiency in t6e amouut d such aggregate monthly payment shall. unless made good by tbe mortgagor ~ prior to the due date of tbe ~Et sucfi payment, constitute an event af default under this mortgage. The modgagee ~ may collect a"tete charge~'_not tAf:~cseed iwo:Cliats (2E7-for_eac~-tlollar (~1}-of escfi payment mae than fiheea (15) days in arrears to cover tre;e~eta Qspense involved.ia h~q~ling delinquent poymeats. ~ 3. That if the total of ~(ie `pi~imtn'ts~ idade'by+t~:med~ot ~undR (6) oE p~Mgcaph 2 preceding shall e:ceed _ the amonnt of payments actu~liy made by tfie a0t~t for ~d i~At~. twces a~d assessments a~ insurance ~ premiums, as the case aay be, such excess shall be ecedited by the mortgagee oa subsequent paymcnts to be ~ made by the mortgagor. If. however. the monthly paymeats made by the matgagor uaia (6J of paragraph 2 pre- - ceding shall ~ot be sufficient to pay grouad rents, taxes and assessm.~ats aad iasuraace premiums, aa the case ~ may b,e, when th,e same shall become d~ and poyable, then the mortgagor slwll pay to the moct~agee any amonnt necessary to malce up the deficiency, on a befae t6e date vrhen peymeat of such graud rents, taxes, assessments, ~ or insucance premiums shell be due. If at any time the mortgagor s6a11 teader to the mortgaeee in accocdance with ~ the provisions of the note secured hereby, full poyment oE the eMire iadebtedness represeated theeeby, the mod- gagee shall, in computing the amount cf such indebtedneas, credit to the acco~nt ef t6e moctgagor all paya~eats made under the provisioaa of (a) af poragraph 2 bereaf which tbe matgagee l~as not becose obligated to payto ~ the Secceyuy, gfNQ ~._,ip~;.and Ucban Development and any balance reaaining in tbe fnnds accua?utated under the provisions of (6) oE said paregraph 2. If there sball be a default under aay aE the pcovisioas of this matg~ge, re- sulting in a public sale of the premises covered iereby. a if the mortgagee acquires the propedy.othe~rise after default. the mwtgage~ s6~1~ ~pply,,s4,t1~ tiw d t1~e cowaqc~tAent of such pcoceedings or at the time the prop- erty is otherwise ecquired. the balence then remaining in the~fnnds accumulated uoder (b) oE paragraph 2 preceding as a credit against the amount of principel then remeining unpoid undec said note ond shall pcoperly adjust ony payments which shall have.been a~ade under (a) oE satd picagraph. ~ 4. 1'hat he will pay all taxes, assessments. watec rates, and ethet govemmental or municipol chatges. tines, - ~ impositioos, for which provision has not been made heceinbefore, and in default thereof the matga~ee may pay the same; and that he vrill promptly delivec the dficul teceipts tbenfor to the mottg~gee.. , - ~ ; j~ 2 ~188 ~~394 ~ . x~ _ - ~ ~ ~ ~~r _