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HomeMy WebLinkAbout2005 ,.r;, ,t . . , re•},t ...~t~.,n! t'it• ti!:~• . ~ . ,~t~! ..~n;i. .~n~: ~•~rr~ ~~.~rt therr~~t. ~~ni3 ~t~ti1 d~•(i•~ui t:~~• ti:a• ..~~.~iai . I.~i~:,. .~il pi•r~~,n~ ~ch~>:~c..~c~~r:. I~f~(i\ l[)l :1l_1!Al~ti, .~n~~ thi•.r E~n•~rnt~ .ur ~•xc~~ utc•d and i?~•l~~rcrd upon the tolloH•~nK conditions, tc~ ~~•it: ~ Ili~ ,.~c!~;.~~;u[ .~K[~•t•~ I~~ i~.~\ l~'.t' ,:'i~ltR~,.~Ri•t~. i~f „r~:rc. thr princ~pl~~ ~UTiI u~ :JG.~~.~ti~=C.:.:. -t~l~.~Ji~::v ..Z.. : ...,.:Jii:::.~ a::J .:O%?.l. (1~~~:.~;~ ~1 A~, ~:'v.l-v 1. t•~ll~t':llt'(j h\ i1 fl~l~E' U~ t'~~t'q (jdtt' }lt•rc~~~~th. ~.•ith IOI~It'~I ffUR? (~.~lt' .i~ !~c' ;,,f~. Ek~~ crntum ~ ? p~r ~nnum on thr unpaid b,~l~nir .:t111: ~~.~:t~ ~ Ilc' ~.111I 4~ri;tc'.~~.,i anil tntrcc•~t ~h.~ll br p,+~~~~blr al ttte u(Cu~e ~~f . i. j,"-;7~iT ::CR: .~:~E ~,~:~'F1:: . _ _ ~l_ - -Z~.".1. ~.1: ~ C: ~ L: i-.._ :_~L'.~E:_,. ~'10'_"l:i... ~ i • r .~r ,~t ~ei: h.~tt~e•~ p;.~cc• .~s thr hulci~•r uf the nut~• :a:,t desiRtiate ?n ~rnt~nR, in monthl~• in.t.+iiments of p::;: r,....:,_ - ~ . .~::u `'1/~ ~n------------Doliars il'~.21 camn:enc~n~, un . ~ 1 ri~~~ tir,t ut ::j~~e:::.; _ , lU , and un thr lirst d~~ of each mo~th thereaftet untilthepnncipal .,nd int~~re~.t ere full~ E,a~d, c~xcc~pt th:~t the 11na1 pa~ ment ot F~r~nci~al and ~nt~ test, if nut sooner paid, shali be dur .~nc'. E:.~~abIc~ un thr first d.~~ ~~f ..~'~•••:::~-C_ ~.;v~ ' And >nall ~~ult. ~~rum~~tl~. _;nd full~ peri~rm. d~schar~;e, e.r•i•cutc•, rf(ect, cumplete, and comply~ a~th and abide h~ ~•.~ch and e~~•r~ the st~pul~~ti:ms, :,~;r~•~•n~~•nt~, c;~nd~t~~~n:. ~nd co~enants ut sacd promisson• note and ol th~s ,.,,~rt~:,~he, thrn th~s mortk.~Kr .~nd the c~~tatc~ herrb~ cr~•.+trd ~h~~l: ce.ise ~nd be null and ~•otd. ~ :~nd t?:~~ r.:rrtR,~R.x lurther cu~en.~nt~ tull.,~~~: a 1 1'h.,t h~• u•il! E~.~~~ thr ~ridebtc•dn~~~~. as hereinbet.>re pru~ ?de~i. Prn ~irKe i~ reser~•ed to p~~• the deb! in w•hole. ~~r in .,n c~muunt rqu,+l to ~~ne ur morr r.~~~nthl~ p~~tmen!> •~n the principal that arr next due on the note, on the fir~t ? ,i,,~ .~t ;.n~ m.~:ith pnur tv :ratunh: i'. t. h.~we~~er, that ~~•ritten noticr of .in :nte~nt~on to exercise ~uch pri~•ileKe ~ ~,i~rn .~t lc~ast thirt~ (30) da~s prior to p;c~a~mrnt: and, pru~ided further, that in the e~•ent the debt is paid ui t~!I ,~nur to maturitt :~nd .+t th:it ti;,c~ it ~s ~~~ured un~er the pro~iswn~ uf thr \ational Nousing Act, he will pat• to t^~• ~~•~~rt~;.~RCe .,n .~dtu.te~:~ ~~rr^~sum ch.~r~;c• :~t une pE~r rentutr. ~1'~ i of thc~ ori~inal pr~n~~pal amount thereof, excc~pt ; ~'~.,.t i~t n.~ ~•~rnt ~h~~;l tht• ~dtusted pre~-:~um e~xrec~d the a~reK.+te .~muunt of premium charges which u•on(d ha~e = h~•~~n }~.~~,ihiE• it thc• i.^.ort~,.+~;e had cuntinued to be :n::arcd until matur~t~, such pa~~ment to be applied b)~ the mort- = F;,~~;e•.• .~p~m ~ts ubiiF;at~on t.> the Sr~ rr:tar~ of Housi~K ~~nd Lirba~~ De~~elopment on accuunt of mortgage insurance. ? 1h;~t, ~n .~rder murc tul:~ to prutect thr seciint~ of th~s Sr;Of2R3a~,'E', the mortgagor, tugether u~ith, and in addi- ~ ~i.~n t~~. thc• r~~~rtthl~ pa~r-,ents undrr chr term~ ~~f the ~c~te ~~~c-ured he•?rb~~. on the first da}~ of each month unt~l the _ ..,:d ..~~t~ i~ fulh p~,cr'. ~cill p:+t tu sh~• ~...~rt~;a~;rr (~:e foliu~cin~, ~ums: ~ . ~ . . r\^ ~~.i:~~t ~~..tti. :i~!tt , i;fr r?:.~ '.!rt i:a rr..t Lr.:,i~ t~.~ *.h.~ nr~t ...~.r!~;.~tir ~n>uranrr p:r^~.~ur: th:s tnstru- : ~ :it .~c~d t!:c ::,~t~ .r~ :t hc•:~ .,n :n-.:rr~!. r ~ nti::t , hnr~r , 3n :i~u ,~t e ^:.•rt~;.~Fr in.ur~+ncr pr. ni~i.^. tf thrt are ` - . :.1 i~r ~a::ri~!.ss•. ~1 !i .~.~n.. ~~•~..~rl llrca~l~~, -.rn!. f~.~11::•x.. ~ t! , '~.~ti : n ti~ .,I r~rr. .+...tr ...^.ii th~. ~n>,tru.^..rnt .ur t^surrd ~;r ar~• rrtn~ura~d urtdrt :he ptoc~s~uns of thi- \.~c::'•na: I1 •::.r.i~; A, t.~n ~ct~:. ~rnt t ._.r. u'.atr in thr !:~nd~ ol thc• holder -.,nr 1~~r.,,nth pn,~r to ~ts due ct:c .~:iri.:.~l r'~.~,~~ tiascr., ~ E~r~~.^,.i..^ :n . r.frr . t1r ti~.i. h t~ idrr ~rttF (unds t~~ p~~~ surh prcttswm to the t.~r~ t H....~n,~ and l'rh.,n I~rt~.l, ~~r .:.t ;~ur>,ient 1,~ the \at~.~nal H;>us~n~; A: t. as amrnded. and apptu at~!e Rr~;u- ..~c~ ~n~~ t!~.rr~ -.n~.trr, .,r . I( It '~nF ~~td n.~ta• e••.~ n~:atr e:~! thec ~n~trii~-.ent arr hrid bc thr Se~crrian :if fleus~n~ and Urban I)r~~•lr~~- • ~ cr~:~ ,r :n :i~~u rt~;..f~ ::i..:rnni r :rcr..i.~r , :+hich ~hal: i~c• :n on as~..~unt rauat tu ~~nr-twr:fth - . _ ~t . n. ..,!t . i , ~ r . r~.. ~f ;hr ~~r•.,tir .~ut~t.~.^.dinti he:.,nr.~ d'ur .~n thr ..ote c.;mputed ti'tlhoui taktnk ~nt~ . :!a~:t:l..i.cn~ ~r. .~r i,r„~,et.. c..~ , - . t.•n~. tir•:::nc'. ren!.. 3f on~. ncxt ,'.uc. E+:us thr prrr..iur..: !h~t ~.c~'.! nrxt hec.,~re due and pa}auIr c~~ p~~Iic-~rs t t~r~ „r.'. ..e...rd isi~::r~nrr ..~c:i:e~ the• rtF..Ke~,i t~r pe•rt~. ;,lus t.,ars and assessments next dur on thr ~:rrt- r rt•, ......+.r.'. M!h. rtkaF:rr~ :r.. e11 su^~.s elrced~ paid !herr(or dtclded b~' the number of mun!hs t.~ n~~ r.,•n:hr{~ti ~t t :~r dat-' .~hrn ~_:h kr ~und ra•nt~. prr^ ~u^.s. t~xes, and a~srssments w~;l brr~rnc~ :ie- - t: . . hn c~ ;c i•c . ,;a~;rr ~r. 'ru~. • ~~ac _~~id kr„und rrnts, prc~ iur.:n, tdxes, and speeial assrssrrnts, , ' • , ~ . r.rd tn :'ec. • A.. ptra r~1u:R :u't ::r. t:-,cts •!:t~ ~~eraRr.,ph dnd diI E~a~ •ren.s t. !m r.:ade Undrr titr n,:te .<<-..r~ ..~..!.t hr e.'..1:.i~ •~:~.•}:a•r ea~] tFt<• ~~'~~t~•'a'.x' n..•::R[ then•~..~1 ~hel: hr y,aid t~t~ 11:c• e.ort~;eK~r raih r.~:~nih tn d . ~ . , c , :trii !.t ~1:t~ :~aF;rc . ~ Shr ,vctnr itr.^. b iR thc• r.1rr sr! ~,~•th _ I` , ~ . :u.. _ ....r.:r. ~~1i~ r tt,.~~ , r.!re: t .~f ;n.ur..n, ~ ,ti irh thr ~r. rrt.~n ,t !i usi::K an.'. l~rban [~r~elopr.:rnl. c~r ^:..,r.thlt• - :n :le•u . ~T'i.d~,r t^. .:td.^.i a F~•e.^ tc:^ . ~ t!ht• .~d~r .^.~.aC 6r. l~'~ ~:~u',.il`:.*t'R1~. t.trt'ti. drtit`~~^.e`Rl~. flft~. n!~'.~ (Ilt'f .'.dldf~~ IR~Jfd!ll't• ~te.••.I-.:... ~ ~ lil ~ t:t:rrr.! .n thr n-•cr ~rc urrd hrrrLti~. ~n.l >;rt {l rtitn[i~ n.~t ihr pnnc~pol u[ :acd n. Ir 1n~ ~?rt:c~rrtc~ in thc• a:^c~unt of such .~~r~~k;.+ti• ^~:onthi~ p~i}nent ~hc+l;. ur.ic•sc m~~de Roud ht the murt~;~~or ;~r~~:r t~~ th~• ~?;.r ~i.,tr ut the nr~t such pa~r^,ent. const~tutc~ en e~~e~nt c~ def.~ult under this mcirt~a~e. The mortKe~;ee ~y ~,,t ;,~:i~~~-t "l.+ie ch.~r~e" not t~~ excced t«v rc~nts (~Cj for each doll.tr (S1) :~E c~ach pa~•ment more than iiEteen .~~rt•.=r~ tc~ co~er thr extra expe~se ~mul~ed ~n handl~n~, delirq~ent pa}~rrents. 3. T!:~t ct ihe t~~tal ~t the p.~tmrr.ts ^ade b~ the murtgc+k~r undcr uf pt+ra~raph 2 precrding shall exceed 's ,,...,:[l? F~d~c;~•'t(:; a(-1lldZi~~ .^.:+C:E' t)~~ f~1P m:rrtKaKee. for ~IOUfif~ rent~, taxes afld assessments dfl(j 1I15ll2aT1CE• ~ r~•~-.;u^1~. 'he~ tx•, ~uch t~xcrss sh~,il be credited bc the mortgager on subsequent pa~ments to be ' --:.~~i~~ h~ •t:e• r,rr!~~..+~~.~r If. h~~~.,rcrr. the munthl~ pa~rnents mede b~ !he moit~a~or under th, of paragraph ~ pre- _ ,.•r'~rk r;:,t be• ~.:tftri~•nt tu pa~ Kruund rrnis, taxes a~d a~se~sm~•nts dnd ~nsurance premwmti, as the case ~ -r,,; hhr•. •,~',~•r, t~c~ ~a~~,e ~h~i; hc~rt~r.:c~ due and pa~:~ble, tnen !he murtg;.gur shall pay to the mort~agee am amo~nt ''F r:~~ce ~~.~s: r r~•.+kt~ a}: tti~• ;ie(i~ ic•nct.e~n ~~r hefore the datc• w•hrn ua}ment uf ~uch Kcuund :ents, taxes.assessments. ..'.~::i.,...c• i,fc". • ~~t,li: hr :~_.P. ~l .i', .itlt !2:7Tf~ ~}iE' ^?uI!~,d~,Ui ~~l.+l~te:l(~E'f t0 tfiP ~:~TTgd~CP 1T1 :iCCOfdFiilCe ~4'ltfl •'i~ ; ~n~ :'~c~ ~r.t~~ ,_•c~:red h~~r•~h~;. tu;! r:a~:ne~t of tht' P:111ff~ indebtednc~~s represented therebti•, the mcrt- ~,:t~ c.~rrE~ut~n~; tj~e .+;-~~::nt ,~f ~uch :ndebtE>dnes.. cre~dit to the acc~~unt of the m~~rt~agor a!1 pa)~ments - ~^d~•r tnc ,~;~n i~i~~~` ~>f ~ c~t p~+;.+kra;~h ~ her~;~f ~.vhu~h the murtRaKee has not becume abl~gated to pav tu ~ rc•r,,r, ,-f fl_~i.~ink .+n~~ Lrh,,n i>e•~rlupment and an~ b~~i.+nce~ ra•mainin~ ~n the funds accumu:aied under the , :n~ ~1 ' ~:~id p.,:,.~r,~~~h ' It Shrre shall ba• a def~ult unciet an} of the pro~'ZS:o~s uf th?s mortKaKe. te- .`,:1i•;~; ir: t~ub:ir sale ~~t thr prt~r..isr~ ~v~~~red ~errb~. ~~r ~f the ^~:~rtK~~ce acGwres the property athetw?se after _ ;ic:.~::'.t r:cr,t~.~~;ee~ ~h,.t; ,,~~pl~, .~t the tirre ot the co*r.mencemernt uf such procredtnKs or at the time the prop- ~~r?•, . ~t^~•:u:tir .ac-quirrd.'hr b~„~,n~e• then remaini~K ir. tre tiinds .,:cumui~ted undcr r'~! oE parakraph 2~recedinK ; rr~~r+:t .,y;;i~n,t thc~ .+rn~>unt ~~f prinrt{,ul t:~c•n :cm~+i^;n~ unp~~id u~~de: said note and sh~li properl~•~+d~ust dn} '=5 ;....~-i~., . •xhich ha:~e bec.^. .,.adr U!lC~t•I JI ~a~d p~ra~t~ph. - J C~:,t hc~ u~11 :+1: ?.+x~~. .+~SCL~~r.^.t~, w•~iter r~+ies, and uther R.n~ernmenta! ~r muntcip<+i charRes, f~nes, - ~r t~~~~iti:m>. !:~r whic~~ pr~~~ ~~i:~r, i..~s not ber~n raade herc~inbefore. .+ni3 ~n default thereof the morigagee may~ pat~ t'tu~ .,+rre ..~n~i ..,~t hE• u•:,, ~:r ~-:ptit d~.~li•:e* the ~~fticial teceipts theref~~r 2~~ the mortKag~•e. BORK ~JV P11Cf ~;1Vt~,