Loading...
HomeMy WebLinkAbout0123 or ~t anch other pluce as the holder may designate in writing delivered or mailed w the debtor, in monthly instxliments oc FOUR HUNDRED SEVENTEEN DOLLARS and 17/100-------------------do»a~(t 41'• » commencing on the firat day of March , 19 , and continuing on the first day of each munth thereafter until this note ia fully paid, except that, if not sooner paid, the final payment of principal and interest aht~ll be due and payable on the first day of February , 2020 . Privilege is reserved to prepay at any time, without premium or fee, the entire indebtedneas or any part thereof not less than the amount of one installment~ or one hundred dollara (E100.00), whichever is less. Preuayment in full shall F,~ cre~i~eti ~n ~he receive~. Parti~l Fre~yment, ~ther Lh~n c+n an instaliment due ~~tQ, need n~t he cre~i~ed un~~l the next following installment due date or thirty days aRer such prepayment, whichever is earlier. If any deficiency in the payment of any inst~?llment under this note ia not made good prior to the due date of the next such inataliment, the entire principal eum and accrued intereat ahall at once become due and payable witho~t e. .~.e ,.o.~,e ~,,.ia., ,s.?,: e e~..,n a.;....e ,.s.~.e ".z ~r~~.' ~ w.~~:. a... ..a....... ~:b:' exenise the same in the event of any subsequent default. In the event of default in the payment of this note, and if the same ia collected by an attorney at law, the undersigned hereby agree(s) to pay all coata of m]]ertion, including a reason- able attorne}~s fee. This note is secured by mortgage of even date executed by the undersigned on certain property described therein and repres$nts money actually used for the acquisition of said pmperty or the improvements thereon. Presentment, protest and notice are hereby waived. /s/ James A. Roberts, Jr. (sE~.] !s/ Penny C. Roberts [sE~I,) [SEAL] [SEAL) I And shall duly, promptly and fully perform, discharge, execute, effect, complete and comply with and abide by each and every one of the stipulations, agreementa~ conditions and mvenants of eaid promissory note and of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void. NOTICE - THE DEBT SECURED HEREBY LS SUBJECT TO CALL IN FULL IN 'THE EVENT OF SALE OR CONVEYANCE OF 1'HE PROPEftTY CONVEYED. This loan is immediately due and payable upon the transfer of the praperty securing such loan to any transferee, unless the acceptahility of the assumpNon of the loan ie established pursuant to Section 1817A of Chapter 37,1~t1e 38, United States Code. A fee equal to one-half of 1(one) percent of the balance of the loan as of the date of transfer of the property ahall be payable at the time of transfer to the loan holder or ita authorized agent, as trustee for the Secretary of Veterans At'fairs. I If the assumer fails to pay thie fee at the time of transfer, the fee shall constitute an additional debt to that already ' secured by this instrument, shall bear interest at the rate herein provide~, and, at the option of the payee of the indebt- ; ednesa hereby secured or any transferee thereof, shall be immediately due and payable. This fee is sutomatically waived if the asaumer is exempt under the provisions of 38 U.3.C. 1829 (b). ! Upon application for approval to allow assumption of this loan, a processing fee may be charged by the loan holder k or ita authorized agent far determining the creditworthiness of the aasumer and subsequently revising the holder's own- f ership recorda when an approved transfer is rnmpleted. The amount of this charge shall not exceed the maximum established by the Department of Veterans Affairs for a loan to which Section 1817A of Chapter 37~ 'ITtle 38, United ~ States Code applies. ~ If this obligation is assumed, then the assumer hereby agrees to assume all of the obligations of the veteran under a { the terms of the instruments creating and securing the loan, including the obligation of the veteran to indemnify the ~ Department of Veterans APffaira to the extent of any claim payment arising from the guaranty or insurance of the indebt- ~ edness created by this instrument. . i ~ The Mortgagor further covenants as follows: _ 1. That he will pay the indebtedneas, as hereinbefore provided. Privilege is reserved to prepay at any Lime, with- ~ out premium or fee, the entire indebtedness or any part thereof not lesa than the amount of one inatallment, or one hun- ~ dred dollars (;100.00), whichever is less. Prepayment in full shall be credited an the date received. Fartial prepayment, ? other than on an installment due date, need not be credited until the next following installment dae date or thirty days ~ after such prepayment, whichever is earlier. ~ 2. In order more fully to protect the security of this mortgs?ge, the Mortgagor, together with, and in addition to, the monthly payments under the terme of the note secured hereby, on the first day of each month until the said note is fully paid, will pay ta the Mortgagee, as trustee, (under the terms of this truat as hereinafter stated) the following suma: {a) A sum equal to the ground rents, if any, next due, plus premiums that will next become due and payable on policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments nezt due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is notified) less all sums already paid therefor divided by the number of months to elapae before one month prior to the date when such ground rents, premiums, ta.xes and assessmenta will become delinquent, svch sums to be held by Mortgagee in trust to pay said ground rents, premiume, taxea and apecial asaesementa. ~ (L) The aggregate of the amounts payable purauant to subparagraph (a) and those payable on the note secured hereby, shall be paid in a single payment each month, to be applied to the following items in the order stated: ~ ground rents, taxea, aasessments, fire and other hazard insurance premiums; (It) interest on the note secured hereby; and , (III) amortization of the principal of said note. eao~ ~75 r,~cE 1~3 - - -~.:c'~ -s ~,a di~, r ',g~ ~~:>t ~ ~~y' . . `.~~~a~'~"" ~ a ~ ~+RS:ri . .