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Home My WebLink About2968 : The Mortgsgor hereby covenants with the Mortgagee, that he ie indetea.aibly seized oi suid land ~in fee simple or such other estatet d any aa ie atsted 6erein; that he hea tull power snd lswful right Lo convev the anme •a efac~esaid; that the lsnd is free ~rom all eucurabrancea eaccept ne herein otherwise recited; that saidlVtortgagor wiU make suc6 lurther aesurancea to provo the aforesaid titlt+ to eaid lsnd in said Mortgagee as may be reason- ablyreyuired~ and that eaid Mortgsgor doee hereby ful~y wsrrant t.he title to said land~ aad every psrt thereoi~ and will defend the asme againat the lawiul claims oi all persona whomsoever. PROViasn ALwAYS thst ii the ?~iortgagor a6all pay unto the Mortgagee that cectain promissory note~ of which the lollowing ia a aubatantiel oopf, to wit: = 1 ~ QcI~ r ~ Mrt !~i ~.Z.rn ~ ~OCI(~ r 1•' ? ~ 19 Foa VwLVS Rscatvan, t6e unde~ed prorpiae($) to pay to -,•-~~r*r;r~>*I ~'OR'~i1~'F. r_O'1~F.*?Y, IyC, , s oorporation orgaaised and eASting under the lawa of Stat~ .aa ~ or order~ the principal sum of !~tNF:Tx:E" '!'!~~v';1!?~~D RIr'??T P~h~?~ ~TG~1*1( ~rr? *b!Jnn ~~___~_..____-~__--___..--.j~p~l'S 1C{~Pr,^.(~n WI~}I lAt@tC3t fMlil dBtC 5t the rate of `~~'~~r per centum ( 7%) per annum ou the unpaid balanoe until paid. T6e said principal and interest ahaU be payable at the offioe of ,,.~.r~...-:ra~- *~7~T!`~~F ~a~h.1~iY ~ T~T('~ ~ -~~,,_t. nF ~ i ~.n R-~..~ 1 .7'>'-1 ~ •^o ra 1 c a~~ c~,~ 1~ r i~' ~ or at such other plaoe as the holder may designate in writing delivered or mailed to the debtor~ in monthly installmenta of E"~' ^.''-'~'~7 m~ rtv m;,, ~ l^o Dolta~a (i ~ commencing on the first day of A~ ~~~L, ~ t , 19 ? 3, and continuing on the 6tst day of each month thereafter until this note is fully paid~ eacept that, if not sooner paid, the final paqment of princapal and interest shall be due and payable on the 6ret day of T~ ~?~T , 2!~n 3. Privile~e is reserved to prepay at en~? time, without premium or fee the entire indebtedneas or any part thereof not lesa than the amount of one uistallment, or one hundred dol~ars (E100.00), whichever is less. If any deficiency in the pa~m ent of any instsllment under thia note is not made good prior to the due date of the next such instaWnent, the entire principai sum and accrued interest ehall at once become due and ~ay- able without notice at the option of the holder of this note. Failure to exercise this option ahall not c~onstatute a waiver of the right to eaercise the same in the event of any subsequent default. In the event of default in the payment of this note, and if the same ie eollected by an attorney at law, the uadersigned hereby sgree(s) to pay all costa of collection~ inctuding s reasonsble sttorney's fee. This note is aecvred by mortgage of even date e~ecuted by the undersigned on certain pmperty described therein and represents money actually used for the acquisition oi said property or the improvemenfa thereon. Presentment, pmtest, and notice are hereby waived. ~ ! !Y`?`~3~:. r~.-~ c1,,..1.~,~ [.4, $AL) IY~na' F.ar' ~t,,~•~~~ ~r ~ (~..y;l_r~.4 ~~1~~'.e~> _ ~~~J ~~.~«t~~~s l i~l\f7;~~ ^ ~ I_t~ _~.l ~ [?7~l [SEAL] And shall duly, promptly, and fully perform, discharge, execute, eHect, c~mplete, and compiy with and abide by each and every the stipulations, agreements, conditions, and covenants af said promissory note and of this mo*tgage, then thia mortgage and the estate hereby created sha11 cease and be null and void. The Mortgagor further eovenants as follows: _ ~ 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, ~ without premium or fee, the entire indebtedness or any part thereof not less than the amount of one installment, or ~ i one hundred dollars (i100.04), whichever is less. ~ ~ 2. In ord~r n~ore full~- to protcct tl~t~ securit}- of this mortgege, the ~iortgagor, together with, and in ; addition to, th~ monthli- pn~ ments under the ter~ns of ihe note sFrured liereb~-, on the first da~• ot eacl~ montl~ 3 uutil th~• said n~t~~ is full~- puid, ~~ill pa~• to the ~tort~ugee, as lrustee, (uncler tiie terms of this trust as l~ercin- ~ uft~r stated) tite folloKitig s~ms: ~ (a) A sum equal to the ground rents, if any, neat due, plus the premiums that will next become due and payable 4 on policiea of fire and other hazsrd insutance covering the mortgaged property~ plus taxes and assessments ~ neut due on the mortgaged property (all as estimated by the Mortgagee and of whic6 the :4tortgagor is ~ noti6ed) less all sums already paid therefor divided by the number of months to elapse before one month prior to the date when such gtound renta, premiums, taxes, and as,sessments will become delinquent, ' such sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,ta~ces,andspecialassessments. ~ (b) The aggregate of the amounts psyable pursuant to subparagraph (a) and those payable on the note secured = hereby, shall be paid in a single payment each month, to be appiied to the foltowing items in tbe order ; atated (I) ~ound rents, taxes, as.sessmenta, 5re, and other hazard insurance premiums; (II) interest on the note secured hereby; and (III) amortiaation of the principal of said note. ~ Any deficiency in the amount of suchsggregate monthly payment shall, unless made good by the biort- ' gagor prior to the due date of the next suct~ paym~nt, constitute an event o[ default under this mortga~;e. = At 1Vlortgagee's option, Mort~agor wili pa~~ a"late cherge" noc exceeding four per centum (4%a) of any install- ' ment when paid more Lhan tifteen (15) days after the due date thereof to cover the extra expense invol~ed in ~ handling delinquent payments, but such "late charge" shQll not be payable out of the proceeds of any sate _ made to satisfy the indebtedness secured hereby, unless such proceeds are sufficient to discharge the entire - indebtedness and all proper costs end expenses secured Lhereby. ~ If th~ total of ti~r pa~•~nents ,nad~ 1,ti• the ~1ort~a~or under (a) of paraKraph 2 preceding shall exceed ~ ihe amount of pa~•menis a~tuall~- n~ade b~- the ~tortgagee, as trustee, for ground rents, taxes und assrssmenls, " anci insuran~e pr~miwiis, as th~ c~us~ ma~~be, such excess shall b~ credited on sui~sequent pa~-ments to be made ~ b~- thc~ Z1ortKa~or for s~ch iteu?s or, at Viortgagec~'s option, as trustee, shai! b~ rPfunded to ]1~iortgagor. If, ho~-~ver, such montlil~• pa~•m~nts shall not 1~ suffi~ient to pa~- such items ~hen the same shall become due = and pa~-able, then the ~lortgagor shnll pn~• to thc ~iort~a~c~, a.s truste~, an~- amount necc~sar~ to make up ~ th~ de~icienc~•. tiucl~ pa~•nu~nt sl~all be mad~ within thirt~ (30) da~•s after w-ritt~n notice from t~~e viortga~;ee - atating tt~e amount of th~ deficienc~, which notice may be given by mail. 1f at. any time the 2biortgagor ahal) ~ goox215 ~~:~~9fi1 , ~ ~ ~ - ~ . .~v. ~ . ~ ~ . . _ ~ . . e.,. .4 c~' _~L° _