HomeMy WebLinkAbout0927 . ,Y ~ • ~ ~
'It~e btorka~or he~by coveaants xith W~ M~qa ti~at he/s6~ b ladefea~ibiy ktxed ot ai4lattd ta tee ~Impls oi
wcA other est~te tI anY, ~e b stakd bereln; th~t b~/st~e !ur ~1t powe: and lewNl d~t to convey tbe ssrae a atoreaaid; th~t
tAe lmd b flres flnroaa ~11 ~ncumorances sx t• pmla otl~~~ha recikd; th~t said Mortp~or wiq maks wch t'urth~r ~
dA n
wuranaet tn prow fhe atoresdd title ta ~~d ia add ~to~e ~e~y bs reawaaQty e~aqulrsd~ snd that uld Mort~or ;
doa h~reby [~lly warrant i~e dtte to ~aid iwd, u~d ~nry part ~"enof~ and will d~fand Wo wne e`alnk the 1pr1W ddms ot =
aU pe~aona wfia~soeter. .
Pwovia~.o A~.w~xs ~hat i! the Mortga~or a6vl pN undo tbs Mort~~es th~t oe+rtaiu promiMO~ note~ oi
whia6 tbe follo~wiog, is s subat~atisl aoP7~ to wi~;
= 56,200.00 Port St. Lucie ~
June 12 • ~ i~ 87 •
Foa Vwi.vr R~cscvsiu. tbe uada~ned W~oaoiee(s~ to WkY b
t HOUSING MORTGAGE CORPORATION
, oorporation or~uiised and ~ uadar tha
li~ws ot Pennsylvania ~ or order~ the prinoipat eunn oi FIFTY-SIR THOUSAND TWO HUNDRED
AND NO/100------------------------ Doll~rs (i 56, 200. 00 wit~ iaterest !roa? dafe a!
the r~te ot TBri PBRCENT p~ oentum (L0.00%) Pe~' ~nnum on tbe uap~id bal~?noe until paid.
The eaid principil ~ad iAter~t ehail be psyable st tbe o~oe of HOUSING MORTGAGE CORPORATION
PO Box 48
~ Pittaburgh, Pennsylvania 15230 ~~~t hdder may d~ate in writia~
delivered or msiled to tbe debtor, in manthly installmet~te ot FOUR HUNDRED NINETY THREL 620/1QQ~dlars
493. 20 ~~~8 ~ ~7' ~ Au~ust 1 ~ 1~ 87 ~ ~d ~ ~
' firat d~y oi ench mAnth thereatter unW thia nots is ful~y pa~d, axcept that, it ~t soones psid, tbe Snal~p~ ?yment
~ of principsl snd interest ehatl be due aad p~yi?ble on t~e firet dny ot Julq 1 ~ 2017 .
Privilia~e ia r~e,rved to pnpsy ati aa~ t~ime, witbout premiunn or fee. tbe antire indebtedne~s or any P~rt
thareo! not le~r than tlte uaount oi oae i~i~la~nt~ or oae 6+undred doQas (:100.00)~ whk6evet ts te~. itepayeatnt ta i~U
ibiU b! Ct'l~I~ Oll ~I! dit! L!0l~tld. ~W p!'f]f~/!Dlllk O~l![ W~li Otl W~Iilltnt dW lI1~Q~ lf~+ld OO~ O! CIQdILld YARII
the aat fo~owlnr in~tattm~at dw date or tWety dt~ afhir aeh prsptq~a~ent; wL{che~r b aarlkt.
Ii aay de~cieacy in f~he pay~~at at any iast~ll~ment under t6is note is not made g+ood prioe to the dne d~te
oi the nexti sueL inat~alla~ent~ t~e entire aum iw?d aocnted interest ehall ~t onoe beoome due und ps
~?ble witbouL notice st the option of fLe lder of this note. F~iture ta euercise thia o tion ehall not oonat~t
~t~e
to
• waiver oi the righti to ezercise the s~me in the eveat at u~y aubsequent dai~ult. Yn e evenL oi d~efault in ~e
p~?yanaat of this note~ and iE the same is colleated by an ~ttorne~ a! l~w, the uadersigned Lereby sgree(~) to
psy ell ooata oi collectan, including a reasonsble ~ttoraey's fee.
1'his aote is secured by mo~ of even date euecuted by the uader~gned oa oertain prr~perty described .
fherein and repreeents monoy actu y used for the acquisitaan oi eaid pmperty or tLe imnpmvemente Wereon.
Presentment, pmteat~ snd noticA a~re hereby waived,
/s/ROBERT L. RAINS _ ~ggAL~
Robert L. Rains
~ - [~?L~
And ehaU dulY~ P~Pt~Y~ ~ad fulty perform~ diecharge, execute, diect, complete, aad oomply witb and abide
~ by each ~nd ever~? the atipulatione. ~r+eemeats. oaaditione~ aud oov~x?anta ot eaid prooniseory note aad of this
mortgage, thea tlUe mortgaae and tbe este~te herebq created ehs11 ceaae aad be nutl iad void.
' Tbe Mortgagor furtber coveaaate as fotlows:
1. 'Ihat he/she wili pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at
any time, wifihout prEmium or fee, the en~re indebtedneas or any part thereof not less than the amount of
one installment, or one hundred dollars ($100.00), whichever is less. Prepayment in full shalt be credited
on the date received. Partial prepayment, other than on an installment due date, need not be credited until
the next following instsllment due date or thirty deys after such prepayment, whichever is earlier.
2. 1n order more fu11y to protect the security o~ this ntortgage, tjie Morigagor, together with ~and in
addition to~ the n~onthlr payn~ente under the terms ot t1?e note secured l~ereby on tl~e firat dsy o! eac~? month
until tl?e said nolc is fully paid, will p~y to the Mortgagee, as trustee, (under f,~?e tern~s of this trust ss herein-
aiter atated) the tollowing suins:
(a) A sum e~ua1 Lo Uu g~ound ra~te, d~y, next due. plue tbe preminms t,b~?t will next beoome due and psyabk
oa poL~ia ai 6n aad other hassrd i.naur~aoe oovenr?g t!?a mr~ed P~Pe~Y P1ua tauea and aaee~menta
aaxt due on the mott~aged P~P~Y (all as eetimated by the~ Mortga6ee sa~ of whiah Lbe lViortga~or ia
noti5ed) kas all euma alnady psid t~here~or d~vided by the number of montha to dapee betore one mont6
prior to tbe dnte plrr,~? euch ~rouna r~ta, pnmiuaia, tauea, sad aeeeaameats will be~wme delinquent~
ench eums Lo be hdd by Mort;ag~eeintn~topsyeaid6mundr~nte,preiaiuma,ta~ces,sadspecialaee~neate.
(b) T6e~ ot the unau?ta_payable pureuant to aubpsra~raPh (a) aad t~hoeepa
y~~ o~ the nots eecur+ed
h~ar~T,~ be paid in s eia~Ie P~?Ym~at aeb manth, to be sppiied to the filiowing iteme in the osde:
stated•
(n 6r~nd r~ts, tax~s, a~m~ts, Sn, ead other ha:srd iaeunwce premiums;
(In intereed ae she aate a~red b~reby; and
(IIn amortisstioo o~ the prinapal of aaid note.
Any deficieney ia tbe amount ot such aggregate monthly papment aha11, unless insde good by the Mort- ~
gagor pr~or to the dua d~?te ot the next such psyment, const~tute an event of default nnder Lbis mortga~e. ~
At 1V~iortgsgee's option~ Morigsgor will pay a"late clisrge" not exceeding tour per cet?tum (4%) of any install• ~
ment w~?en paid more thsn Siteen (15) ds~?e atter the due date thereot to cover the e~ctn expenae involved in
handling del"mquent, ?tymcnta, but such 'l~?te chsrge" ahsll not be payable out of tha proceeda.of sny ae~la w
made to a~tiafy tba ~ndebtcdnasa secured hereby, untess euch p~ds sre gufficient to dmcbarge the entire ~
indebtedneos ~?nd atl pmper c~sts and eapensea secured thereby. ~
3. If the lotai of the pa~zitenla macle b,• the Morlgagor uredpr (a) ot parsprnph 2 preceding shall exceed
t}te amount of paymenta sctuell~ made b~ tt,e Mort{~~ec~ as trustec?, for ground rents~ taxes snd s~ssessments,
• and insursnce premiums, aa the case mav be~ such excess shsll be creditrd on subsequent pdyments to be m~de ~
by tlu Mortgsgor tor sucl~ ite~ns or, a~ Mortga{~ee's ~,ption~ ae trustee, ahsll be retunded W Mortgagor. If, ao
however, auch ci~onthly~ psy mente ai~a11 not be auffirient to psr such itema when the same shall become due o.a
and gay~ble~ then tlio Mortgagor shall pav to tl~e Mort~aECec, aa trustee~ any sinount neceasary to make up
the deficiency. Sucli pa~men~ al~all be macie within thirt,y (:i0) du,vs sft,er written notice from the Mortgagee
atating t~he unount of the d~icienay, which notice msy be gisen by tn~il. I! at ~y tlme Zhe Mortgagnr ~ba11