HomeMy WebLinkAbout1183 J. Mortgagor shall have the right to prepay the whole
or any part of the unpaid balance of the indebtedness
hereunder at any time without penalty. However it is agreed
between the Mortgagor and the Mortgagee that any prepayments
shall be first applied to the payment of the First Note
and First Mortgage. Any prepayment shall be applied to the
interest accrued to the date of prepayment and then to the
.principal indebtedness. Any prepayment being applied to the
principal shall be directly paid for principal reduction of
the First Mortgage and First Note and any amounts over and
above the entire principal indebtedness of the First Mortgage
and the First Note shall be paid over to.the Mortgagee
herein.
K. Mortgagor shall have the responsibility of paying
the escrow amount which is due under the First Mortgage, if
any, by paying said escrow amount on or before the 10th day of
every month to Mortgagee and if such increase or decrease in
the escrow amount occurs then .the Mortgagee shall be respon-
sible for immediately notifying the Mortgagor and said
increase or decrease shall apply directly to the Mortgagor.
The escrow amount is presently $23.55.
L. Mortgagor shall be responsible for obtaining
insurance on the property for the highest insurable value
and said Mortgagor agrees to provide the insurance company
with the names and the interests of this Mortgagee as well
as the holders of the First Mortgage.
M. Mortgagee may make or cause to be made reasonable
entries upon and inspection of the property provided that
Mortgagee shall give Mortgagor notice prior to any such in-
spection specifying reasonable cause therefor related to
Mortgagee's interest in the property.
ENTERED INTO and agreed to by the undersigned on the
day and year first above written.
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' MORTGAGOR: MORTGAGEE:
Ro r D. Hunter E n y Kop
Stella M. Hunter Jessie Ko
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