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Home My WebLink About2049 ~ . , ~ ' L~' • , ~ The Mortgagor hereby oovenwata with tDe Mortgagee, t.hat he is indeteaRibly seized oi said land in fee ~inaple or such ot~6er est~tet d aay aa is st~at,ed herein; that he bae tull power snd lnwful right to oonvev t,he anme •e •s ~ioresaid; the6 tha land ~a iree ~rom all encumbri?nces excep~ as Lerein ol~herwise recited; ~hst said~iortgsgor will make auch iw~ther aesuranues to pmva t6e aforesaid title b eaid land in said Mortgagee as auy be rei?son- ~,b r~quind, snd Lhi?t said MoMgwgor does hereby full wa~ruit the tatle to said land~ aad every part thereot~ ~aill defend the eams agsina6 t6e l~wful claims oi ~ persona ~vhomsoever. PROYIDED ALWAYd ~a~ It W8 ~~Oi1$ig0! 811L~I pty 11IIt0 ~d MOi'LgigeO fL6~ CeiLilII pl'OID188019 A01~~ O~ wLich tLe tollowing is a aubetantisl ooPS, to wt~: . i 31, 000.00 Pbrt Pierce February 22 , i9 75 • FoR Viu.ux Rscstvau~ t6e underaigned promiee(e) to pay to '1~ IrOMA.g ~ NS'1TLBT08 OOi~tPA11Y . s oorporation orgaaised aad e~dating u~det#he lowa~et--~he-B't~e~~f o~cder, the principal sum of THIATY ONS '~OU3A1~ AI~ID------- ----•------------------------------np~l0~~ 31~ 000.00 with interest irom date st the rate ot &IC~T Al~ ONS HALF P~ centum Per annum on the unpaid balanue until p~id. Tbe said principal and intet+est ehall be payable at the o~'ice o~ Tlie I,amag & l~ettleton Campanp~ - P• 0. Box 964 ia pi~~ie~ ~ea~h~ vir~aig 2g45~ ~ or aL such other plaoe as the holder wsy designate in writing delivered or mailed to the debtor~ m monthly instatlmenta ofglp HU1~R'~ TgIRTY BIt~T & 39I1~~ z38 • 39 eommencing on the first day of q,pY'il , 19 '~'j , and aontinuing oa the firat dsy of each mont~ thereaiter until tlus note is fully paid~ except thst~ if npt sooner paid, the final payment of princtpal and interest shell be due and paysble on the Srst day of M~~ ,2005 . , privijege ia resecved to prepay at any time~ without premium or fee. the entire indebtednees or sny part ~ thereoi not leas t6an the aawunt of one i~t~llment, or one 6undred dollars (:100.00j, w6ichever is less. Pcepayment in full ~ shall be credited oa the date received. Partial prepaynreat, other t6an oa an instaUmeat due date, aeed not be credited until ~ the next [ollowiag installment due date or thirty ~lays atter such prepayment, whicdever is earlier. Ii sny deficiency in the payment of sny installment under t~ia note is not made good prior to the due date . of the nezt such instsllment, the entire principal sum and accrued inte.rest shall at once become due and ~ay- able without notice at the option ot the holder of thia note. FWure to eserc.ise thia option ahall not oonstatute s waiver of the right to ezercise t~e same in the event of any subsequent defeult. In the event of default in the psyment of Lhis note, snd if the same is collected by an sttorney st lsw, the undersigned hereby agree(s) to pay all ooata of collection~ including a reasonable attorney's fee. This note ia secured by mort~age of even date eaecuted by the undersigned on certain property described therein and representa money actiually used for the acx;uisition oi asid pmperty or fhe impmvemente thoreon. Presentment, protest~ and noticR are hereby waivad. ~ a ' ~ ~A-,-- ~ n.~.,pst T- vt i.T i i~; Jr- _-[sg~t.] gR1~T J. i~II,I~IAI~~ JR. --~~--~ee-G--~s-- _ [s8"t'] AZAL~ G. ~+TILLIAi~4 - [s~l . [sgnL] ' And ahall duly, promptly, and fully perform, discharge, execute, ef~ect; complete, and comply with snd abide ' by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this i mortgage, t6en this mortgage and the estate hereby crested shall cease and be null sad void. ' The Mortgagor further covenants as follows: ~ I € 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reaerved to prepay at any time, ~ without premium or fee, the entire indebtedness or any part thereof not leas than the amount of one instaUment, or , ~ one hundred dollars (i100.00), whichever is less. • t ; 2. In order morn full~ to pmteM the securit~- of this mortgage, tLe ~lortgagor, together with, and in ~ ad~lition to, the monthl~- pa~•menta under the ter~ns of the notP securnd h~reb~•, on t)u first.da~• oI cach month ~ ~ w~til U~e said not~ is fullr paid, v?i11 pa~• to t•he ~tort~agee, as trustee, (under thc terms of this trust es herein- ~ ~ after stated) the fulloa•i~ig swns: ~ ~ (a) A sum equal to the grouud renta, if any, next due, plus Lhe premiums that will next become due and payable on policies of fire and other hasard insurance covering the mortgaged property, plus taxes and as,sessments ~ neut. due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is notified) leas all aums already ps?d therefor divided by the number of months to elap~e before one month ~ prior to the date when such ground rents, premiums, taxes, and agsessments will become delinquent~ ~ ~ such sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taaea,andspecialassessments. & (b) The aggregate of the amounta payable pursuant to subparagraph (a) and those payable on the note secured ~ ~ by, shall be paid ia S aingle payment each month, to be appl~ed to the following items in the order ted (I) ground renta, taxee, asse~nnents, Sre, and other hesard insurance premiums; ti (II) interest on the note secured hereby; and ~ (III) amortiaation of the principal of said note. ~ Any deficiency in the amount of suct~ aggre~ate monthly payment shall, unless made good by the Mortr gagor pr~or to the due dste of the next such psyment, const~tute an event of default under this mortgage. ~ At Mortgagee's option, Mortgagor will pay a"late charge" not eaceecling four per centum (4°Jo) of any install- r ment when paid more than fifteen (15) days atter the due date Lhereof to cover the extra expense involved in ~ handling delinquent paymenta, but such "late charge" shall not be payable out of the proceeds oi any sale ri made to satisiy the indebtedness secured hereby, wiless such proceeds are auH'icient Lo discharge the entire ~ indebtedness and all proper costs and expense.s secured thereby. ~ 3. If the lotal of the pa~•mcnts mocl~• b~- the \'Iort~agor un~ler (u) of pura~ruph 2 pre~edin~; shall exceed ~ the amount of pa~-n~ents a~tuall~- n~ude bv t~ie ltortKaKec, as trustee, for Kround rents, taxes and asse~~ments, ~ and insuranre premtutns, as the cuse ~na~= be, such excess shall ix• credit~d on subsc•quent pa~ments to be macle b~ the Morig~gor for su~h iteins or, at Mortgagee's option, n,g irusiee, shall be r~funded to Mortgagor. If, however, such montlJt• pa~•ments shall no1 Ix~ suffirient to ~A~' 3U(•h itcros when the san?e shall become clue ~ and pa~•able, then thc ~Iorl~aKor shall pa~• to th~ ttort~;a~;~•~•, a.5 iruste~, nn~- uniount necessar~ to make up ~ the de~icic~ne~•. Su~h pa~•ment shull tx~ n~udc~ Mithin thirt}- (:i0) du~•s nfter wtitten notice from i}?e ~Iortgagee stating the emount of the deficienc~, wLich notice maq be given by maiL If at any time the Mortgagor s6all A 5~~~ P~2047 - ~ _.r_ _ _ - - _ _ .