HomeMy WebLinkAbout0969 Io t1a.e And To Hoid thr same, together with all and s~ngular (al A sum ryual to the ground rents, !f an~, nrtit due, plus the
rtir tcnemcnts, here~iitaments and appurtrnances thercunto belong- prcmiums that will next bewme due and payable on policir~ of
~ng ur in aiiyNiu appertaining, and thc re~ersion and revcrsions, fire and other ha:.ard insurance co~ering the martgagcd propertq,
: rnia~nder or temaindrrs, rcnts, issues and profits thereof; and plus taxes and assessments ne~et due on the mortgage~ property
~i,o all th~ cuate, right, title, ir.tercst, homcstead, separate atate, lall as cstimatcd by the Mortgagee) Iess ali sums already paid
~~~.sse~sion, claim and demand whatsoever, as well in law as in thercfor dividcd by the numbcr of months to clapse beforc onc
ryuity, of tht said ~lortgagor in and to the same, and every part month prior to !he Jate when puch ground rents, premiums, taics,
:hrreof, with the appurtenances of the said ~lortgagor in and to and assessments will becume delinyucnt, such sums to be held by
ihr ,ame, and cverp part and parrel thercof unto the said ~tort- Mortgagre in trust to pay said ground rcnts, premiums, taxe,, and
. agee in (ee simple. s~ial asxssments; and
:~nd the ~tortgagor hereby co?enant+ Nith the Mortgagee that !b) All pay~ments mentianed in the pre:cding subuction of this
i, indrfeasibh uiccci of said land in fee simplc; that he hac full paragraph and all payments to be made under the nott securtd
t~~~Her and laHfui nght to cun~ey lhe ~amr in fec ~imple as hereby shall be added togcther and thc aggrcgate amount thereof
tturctia~d; that it ~hall tx iaNful for the ~turtgagcc, at aU timcs shalt be paid by the Mortgagor cach month in a siiglc pa~mcnt tu
;~a.rably and yuirtly to enter upon, hold, cxcupy, and enjoy said be applied by the Mortgagce to the fol~oNing items in thc arder
::ln~, ~nd e~en part thcreof; that the land is and Nill remain :ree set forth:
tr~~n~ ~II cnruntbran~es; that said ~lortgagor Nill make such (ur- lil ground rents, ta~cs, asscssmrnts, firc and uther harard in-
;h:r s+tiurantrs to pro~~ the fct simple title tu said land in said surance premiums;
~t~~~c~;agre as may ttic rra~onably reyu?rcd, and that said !~1ort- (ii) interest on thc note ucurcd hcrcb~;
.~gur dixs hcreby full~ warrant the title to ia~d land, and e+er~ liii) amort~zation uf [he pnncipal of sa~d nutc;
,~art thcrcof, and Mi(I Jefend the samc aga~n~t tht lawful rla~ms of Ii~) late charges.
: il ~xrson~ whumc~x~cr.
Provided alwa~s, an:f thrsr prcscnt+ arc rxz~utcd and dcl~~~rcd An~ dtfi~ien~y in the amount of wrh aggrcgate monthE~~ pa>-
:~;~~m thr folluNing conditiuns, tu wit: ment shall, unless madc gooci by thc ~tortgag~r prior to the due
1 hc ~lortgagi~r agrees to pa~ the \tortgagre, or ordrr, thc pnncipal date of thr next wch payment, conctiwte an e~ent of dcfault
~:~m .~f FIFTY TWO TNt)IJSAtiD tiltiE HUtiDRED F I FTY under this mort~age. The ~tortgagre may collect a"late charge"
not to exceed faur crnts 14e) for each dollar (S1) of ea~h payment
morc than fif[etn (15) days in arrcars to io~cr the expcnse imol~-
:liD 00/100-------- Uollan IS 52,950.OG cci in handling dclinyurnt pa~ments.
~•~i~fen:ed by a ni~u of e.rn date hcrewith. N~[h intrre~t trun~ 3. That if the total of thr payments maJe bp the tiiortgagor
I ~.,te at th~ rate of ten and one half under (a? of paragraph 2 preced+ng shall excerd thc amount of
i
payments actua~l~ made b} the ~tortgagee, (or grour~d sents, taies
j ;•r .rntum t LU.50 °~o?, per annum on thc unp3~d and asse~.ments and in~urance premiums, as thr case may be,
i ~~.~lan.r unnl p:~~~f. The ,aid ~nn~~pa! and intcrrst shalt hc pa}nblr such excess, if the loan is ~urrcnt, at the option of the tilortgagor,
w shall, be crcdited on subscqucnt payments to be made by thc
~ ~t~: ,~(fi~c uf ~p(;SI`G MORTGAGE CORPOFtAT10\ ~~~rtgagor, or rcfu~drd to the ~1ortgagor. If, howc~er, the
i' . U. BOY ~+8 , P 1 TTS BL'R(;N . YA 15 2 30 monthly pa>mrnts made by the Mortgagor under (a) of paragraph
~ prccaiing shall not be suCf+cient to pay ground rents, taxes and
~ a~sessments and insurance premiums, as the case may be, when
~ : a~ ,w_h ~~zhtr pfa:c a. thc hol~icr i~f the note ma~ de~ignatc in the same shall btcomt due and payable, then the ~lortgagor shall
~ .,~~~~ng, ~n munthl~ mstallmtnlc uf FOLTR HL'~URED EIGHTli Pay to the Mortgagcr any amount necasary ro makc up the dcfi-
~ c~ency, on or before the date when payment of such ground rents,
~ taxcs, asscssments, or insurance premiums shall be due. If at am
; r~)LR A~I) 37/100------~~~>>~a'~ iS484. 35 1. t~me ;he Mortgagor shall tender to the Mortgager, in accordance
~ ~~mmenc~ng un thc fint ~3ay ~~f August . 1988 . N~th lht pro~isions of the note ucured hercb}', full payment of
~ ~~;:1 ~n the first day uf ra~h month thereafccr ur~ti! thc prin~ipal ~he entirc ~ndebtedness rrprescntcd thereby, the ~lortgagee shall,
~ .:r;:l !ntere~t are full~ pa~d, et~ept that the final pa}mrnt of pr~n- in compuung the amount of su~h ~ndebtedness, credit to thr ac-
~ount of thc ,tortgagor any balance rcmaining in the fund, ac-
E T~al and 3ntcrest. i! nc~t s~wncr pa~J, chall be due and pa~able vn ~umulatrd undtr the provis~ons of (a) of said paragraph 2. If
~ ~;;r f;rst da~ caf July 2018. thcrc shall be a dcfault undcr anr of thc pro~isicrns of this mort-
~ tiha!! duly, prumptl}, and iull} perform, di~.harge, e~eiute, gage resulting irt a public sale of the premists co~ered hereby, or
~ ,tfe~t. ~~>mplete, and compl} with and ahide h} ra.h and r~ery if tne ~lorigager acquirts the proExrty otherwise after default, th~
t ~hr .upulaUuns, ~?greenticntti, .undision~, an:1 ~o~enant~ of sa~d ~lortgagce shall apply, at the time of the cummencement uf ~uch
:~r~~m~titi~,r} ne~tc an~i i~t this mcirtKagc, chcn this mortKagc :~nd thc pro,ecdings, or at the same time the projxrt} it otherw~se ac-
_.tetc hcreb~ .rcatcd shaU .ease :~~td tx nu11 and ~uid yu~~cd, the balan.e then rema~ning in the fundt aciumulatcd
` ~ undrr la) of paragraph 2 prcceding as a ~redit against thc amc~~nt
a And,the tilohKyKor (urther co~enants a~ folloKS: prsncipal :hen rcmainmg unpaid under said ~ote.
~ 1. T n.~t he µ~11 ~a~ the ~ndehtrdnr~~ ac hcre~nheforc ~~r~~~ ide~i
f'ri•.iicge rctenr.l ~c~ j~a~ the deht. ~n Ahule z~r in p~rt, un an~ That he W~II pa} all ~:~~es, asses~mentc, water ralts, and other
,;i,~.~l~fi7iTl1 s1~c :!atr K~~tirrnmcntal or mun~c~pal charg~s, fir~cs, or imposilions, f~~r
wh~ih ~~ro~ision has not txtn made herc~nbcture, a:~d in dc(ault
2. ih~t, m nrder murr tut!} to prutect the ~e~unty th~. m~+rt- jhereo( the ~lortgagee may pay the came: and that he will
~ :agr. ~he ~1c~rtgagor. tugether uith. and m a~J~t~on the pr.,mptl~ Jc!i~er thc offiiial reccipts there(or tu che ~tort~agee
k rnurithly pa.mrnt. undr. [hc tcrm~ of thc n~~tc ~c~ured hcrch~, t~n
~ ~hr f~r~t Js~ ~~f ca~h month unU! the caiu n<~tc i. ful;v ~~ai~1.
s ~~,e~, t„ the ~t~~rtg~gee the fullciuing w:n~
:;~kK 5~4 ~-N~,~ ~69
~age 2 ot 4 ?!UD 92110M 1
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