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Home My WebLink About0946 t?YrS.~t~S. .~4't~i.~Ot' =_A0~000.00 _December.._.....-----------. 19.8~_.. ~ FOR VALUE RECEIVID, th~ und~nt~n~d, Fointly ahc~ avKally, PROMISE TO ~AY ro th. o~d.• of.._~ _ JAMES BURNS and HELEN BURNS~..his wi~e FORTY THOUSAND DOLLARS AND NOT~b~ at~~~ E. ~M~3i i~aw~~-r-~ Cc.urt, Scottsclale, A'L~ pfae~ a: th. hold~r h~nof may nat~ in writino wpeth~~ with tnt~n~q from December._.~,~ 1986 •t • :t th~ rat~ of _ p~~ antum pK annutn on th~ unpaid balanis unNl matu~ity. Th~ ~id piindpai and inMnst ~ali b~ du~ and payaW~ ss followu 60 monthly payments of ;429.84, including principal and interest, commencing on January , 1987, and continuinq on the same date of each succeeding month thereafter through December 1, 1991, with a FINA~, BALLOON PAYMENT OF HALANCE OF PRINCIPAL AND ACCRUED INTEREST IN THE APPROX- IMATE AMOUNT OF ~32,526.80, DUE .~ND PAYABLE IN FULL ON JANUARY , 1992. THIS NOTE MAY BE PREPAID AT ANY TIME WITHOUT PENALTY. K r.t.~? b. f.. _ 3 0 ~.ri u~ '.r..~~ .t ,.r .E r.~.~ « M~~ « .~r r..~ M,~.w .W. ~ wpsir wilb i~hhst sbM N I»li~a M1iM ?~cw ~w wal ~ay+W wi1Aw/ w~Ka. faY~as w~sa?ciw wcA MtiM duq Mt sw~ui~ vraiw~ ~f /M ryAt 1~ uaech~ tA~ sw f~ M~ ~r~ ~f wbHwwt J~l~vh. Atf~r au~wil~r wM ~cipl a~~ accewr i~unst shaN war i~~sw» ~t~~ Ne uwhiw '1f WY~ M11~ ~~M M+ M~fN/t ~ 1~{ N1~ fltlf~Mf 1Y~11/ ~IIM\+~ Ml~t~ MMF~r~M~ M+ 'fN~fi. MN ~ MI ~ N ~ulwky an~ Nr s+~ k~bc~1 wilh M s~»~r i+~ aN~ctiw+. Hw wak~n +w~ Mdws~n lw~i N pr all se~ts ~f c~iMcli~w, Gcl~~ ap c~t coia a.~ hawwaW. M+.ew~r , ' ZrHIS IS A BALLOON MORTGAGE AND THE FINAL PAYMENT DUE UPON MATURITY IS ' APPROY.YMATELY ~32,526.80, TOGETHER - ~ WITN ACCRUED INTEREST, IF ANY, AND ' AI,I. ADVANC~MENTS MADE BY THE MOR~- ~~+?~'`r - -----.-----.ISFAI) ~ ~ I M. HITCHNER ; GAGEE UNDER THE TERMS OF THIS . ~ Atfrst: MORTGAGE. ------•----------------•(s~l . ` ~ R. fIf ~HI~ Ft , _ . • _ (SEAL) ~ ~ -L:--1-- • ~ ~ . t ~4~.nr'ir'v.fi~r`5-~i~ifi~~'r~'fi.M~n~'i-4~i!'~rifi,fi~i,~i~i!i~i!i~ifi~i~'i~fifi-~'i!sNi~~i!i~i~i!~~i~~-~i~i~~i~i-~~"fr'~' nijil~4. ! ~ ~ t and shall duly. promptly and fuliy peKorm, d~~charge, executr, rftert, complet~, comply with and ~b~da by each and e~~rr~ the stipulauon~, a~~eemenla, condRiun~ and covenants o[ sxid prum~ssory note and of tltis mortgage, then thi~ mortRage and the estate hereby created shall cease and be null ana ti•n~~1. It under9tood that each ot lhe worJs. "note," "mortgagor" and "monRagee" respectively and the pron- ~ ouna reternng thereto, whether in the singular or plural anywhere in thta mortgage, ~hall be singular lt one only and ahail be plural jointly and severally, it mure than one, and shall bc rnRaculine, fem~nine and/or neuter, wher- ever the context so impl~es or admits. Md satd lrtortgagor for hSmsei[ and his hein. legal representatives, ~uccea~ors and usigrs~ hereby coven• ants ana agrees to and with said Mortgagee. his legal representetivea, successoro and asalgT?a: 1 1. To pay a11 and singular the principal and intereat and the various a.nd aundry aum~ o~ money payable b ~ virtue ot said promissory note, and this mortgage, each and every, promptly on the daya re~pecvvely the sami aevcrally DecomR due. ~ 2. To pay ~11 and singutar the twxes, ~seasmenta, levies, liabilities, oDli~ation~ nnd Incumbrances of e~~ery natu~e and kind now on 9sid deacribed properly, and/or that hereatter may be imposrd, sut(ercd, p1acM, levied or assessed thereupon, and/or that hercalter may be Ir.v~ed or ass~:s~ed upon Lhis morlgaRe and~or the indebted- ness secured hereby, each snd every~ when due snd payable according t~ law, batore they become del~nquen~ ' and be[ore any interest attache~ or any penxlty is ~ncurrrA; and m ao tar a~ Rny thereot is ot record the sams ~ shalt be prumptly salisfied and dischargrd ot record and the onRinal otficial dncument (such u, tor i~utance, the tax receipt or the sat6aia~.:az ~SII~!?!!y :n~ler~~! certilFed~ shall ~e plsced in the h~nd~ ot said MortRagee within ten days next atter payment; and in the event lhat any thereot is not ao paid, at[isfied and discharged, said btortga~ee may at any t~me pay the same or anY part thereot w•ithout wab~~ing or aftecting any opt~~n, lien, equity or right under or hy virtu~ ot lh~s mortgage, and the tull amount of each and every suoh payment rhnll 6e immediatrly due and payable and shall bear interest tr~m the dnte thereot until paid at the nte of ten per cPnturn per annum and tngether v~nth such interest shall be secured by the lien of thi~ mortgage. 9. To place and cont,nuously ke~p on the bu~ldin~e now or hereatter situate on said land tin and wind~torm In~urance ~n lhe usual standard poliry fnrm, in a sum not les~ [han ;~IMUM ~n such com- pany or comp^ni~•s as may be approved by aairl Mort~a~~•e: un~t nli ALC~1 insurance pniiciea on any ot sald bui1~- . inga, any intereat therein or part ihereof, in tht aR~reRate ~um aforrsa~d or in exce~s lhereof, shW contain th~ usual standarA mnrt~agee clause makinR the I~~~a ur.~irr ~~d (wlicies, en~h and every, payable to said Mnrtga- Ree as his interest may appear, and eACh and e~~fry su~~h Ex?hcy +hall De promptly drlivered to and held by uid ]?Iort~agee; and, not les~ tlan ten days in ad~•anre nf the ~xpirxlion of each policy, to deliver to s~td MortRaRre a rene~val thereof, toRether wilh a receipt tor th~ pr~mu~m nf Ai1rh r~newwl; and th~re shall ~c no such insur- ~ anre p4aced on any o! aaid buildinRs, any ~nler~st thcrein or part the~cof, unle+a in the tortn and wfth the loaa I payahle as a[oresaid; nnA in the e~vnt xny sum of money becomes payable under s+uch pollcy or policies sud i Mort~a~tc ~hall have the oplion to receive and apply the nam~ nn account of the tndebtednts~ secured hereby or to ~rmit alid M~rt~a~or to n~efv~ and uae it or any pnrt thercot !or other purposcs without thereby wiivln~ or impairing any equity. Ifen or ri~ht under or by virtue ot this mortga~e; and in the ~vent sald Mortg~Kor ~hall ~ for any r~nso~ fail to k~~p the aatQ prtmi~PS an in~urrA, or [~il to dellver promptly any ot uJd polirie~ o[ insurance to sa~d ~tnrt~aRPe, or taii prompUy to pay lnlly any premlum therefor, or in any rsspect tall lo per- torm, di~charRe, exooute, eftect. complete, comply nnth and abide bv this covenan~ or any part hsreo[. uEd Morfg. aRe~ msy place anA p~y [~r aucb inauranee or any part therent withnut wafving or attecUna any optinn, li~n, equity or riRht under or by virtue of thls mortRage, anJ the tuU amount ot each and every sueh Rayment sRall ' be Immediately du~ an~i payable end shali b~~r int•rest trom the dRte thsnwt until pald at the rate ot ten per centum per annum and together with such Intereat ihal! he secured by the llea ot thlr m~rt~y~e. ' To permt~ commit or autfer no waate, fmpairment or dstettontloa ot sald property or any psrt thersol. ~ 6. To psy sll and slnRut~r the casts, chargea and expe~se~~ fncluding reaaonable Lwyer'~ tea and co~t ~t abatrscls ot tiUe. Incurred ar pald Rt any tlme by uld ~[orta~ee becauae and/or In th~ ~vent ot t~e fallur~ on the p~rt ot the a~ld lr[ort~aRor to duly~ premptly ana [Wlp p~r[crra. dlacAug~, ~secub, efhet~ compi~t~, comply wft?~ ~nd abfd~ by ~~ch and ~voryr th~ ~tlpulatlons, a~n~m~nta, eondlflon~ seW oov~nar~t~ o! astd promis- aory note. and Wi mortRagt, any or elther, and uld costs, charsts e,eW espctuea, suh aad ~very. ~hsll b~ Im• - mediately du• and paytDle. whether or nM th~n M Notin. demsnd, atbmpt to ealktt or ~ult p~adU?~: ~?d tM Nll smw~nt o? euh and ertry ntch paymcnt shsll beu Intereat t~n tM dat~ tb~e+to~ uetll pafd st tAe rate ot ten por centutn per anaum• and a!1 ~sfd corL. cnar~ea and ~spaaw ~o lt?curerd os pa14r W~stMr wltA ~usb la- t~nst, ~AW b~ secured by th~ U!n ot Wa mosts~. ~ ~~~24 ~8841 , ~~-~v, . . - _