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<br />81--OC10447
<br />Ta Ilpvrt pan TO Hcrt.n the same unto the Mortgagee, xkg herein provided. Mortgagor represents to,
<br />and cacenants with, the Mortgagee, that the ;42ortgaKor has goal right to sell and convey said premises.;
<br />that they are free Pram encumbrance, except as hereinatherwise recited ;that the Mortgagor will warrant
<br />and defend the same against the ixwi ul claims of afl persar;; :whomsoever. Mortgagor hereby relinquishes
<br />all rim is cf ho~~t~, all marital ~i~ats, either in la?v ar in fruity, and all other contingent interests cf
<br />ttie Mortgagor in and to the above-described premises.
<br />PRdvk,~+t3 At.wp~-s, amt these presents are executed- and delivered upon- the following eonditiana~ to
<br />wit:
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date
<br />at the rate of *-hirteen & ore half l;er centum (13.5b) per annum on the unpaid balance until paid.
<br />The said principal and interest shall k,e payable at the office of Mortgage Plus incorporated
<br />in Englewood, Colorado , or at such other place as the holder of the note may designate in
<br />writing delivered or mailed to the itlortgagor, in monthly installments of Three Hundred Seventy Eight and
<br />I8jI00ths~l~y.q ($378.18 ), commencing on the first day of Marsh , 2981 ,and continuing on
<br />the first nay of each month thereafter until said note is fully paid, excep± that, if not sooner paid, the final
<br />payment of principal and interest shall tae due and payable on the first day of t?ebruarY 2011 ;all
<br />arsarding to the terms of a certain promissorH rote of even date herewith executed by the said Mortgagor.
<br />The Mortgagor further agrees:
<br />2. He will pay the indebtedness, as hereinbefore• provided. Privilege is reserved to prepay at any
<br />time, without premium or fee, the r:ntire indebtedness or an}• part thereof not less than the amount of one
<br />installment, or one hundred dallazs ($100.00}, whichever is less. F'tepayment in full-shall be credited on
<br />tl~ date received. Partial prepayment, other than on an installment due date, need not be credited until
<br />the nest following installment due date cr thirty days after such prepayment, whichever is eazlier.
<br />2. Together with, and in addition to, ; he monthly payments of principa! and interest payable under
<br />the terms of the note secured hereby, Mortgagor will pay to Mortgagee, as trustee, (under the terms of this
<br />trust as hereinafter stated) on the first day of each month until said note is fully paid:
<br />(a) A sum cxlual to the ground rents, i f any, next due, pins the premiums that will next become due
<br />and payable on policies of tire and other hazard insurance covering the mortgaged property,
<br />plus taxes and a.sessments next due ~.m the mortgaged property (all as estimated by the Mort-
<br />gagee, and of which the Mortgagor is natilied} less all sums already paid therefor divided by
<br />the number of months to elapse before one month prior to the date when such ground rents,
<br />prem=~=!ns, taxes and assessments will laecome delinquent, such sums to be held by Mortgagee
<br />in trust to pay said ground rents, pretniurns, taxes and special assessments.
<br />(b) The aggregate of the amounts payable pursuant to subparagraph (¢) and those payable on the
<br />note secured hereby, shall be paid in a single payment each month, to be applied to the follow-
<br />ing items in the order stated
<br />ttJ ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(rt) interest an the note secureKl hereby ;and
<br />(nt) arnortization of the principal of said note.
<br />Any defciency in the amount of any such aggregate monthly payment shall, unless made good
<br />by the Mortgagor prior to the due date uf' the next such payment, constitute an event of default
<br />under this mortgage. At Mortgagee's option, 3lartgagor will pay x "late charge" not ex~eed-
<br />ing four per centum (•1 ~'~) of any install rnent when paid more than fifteen (25) days after the
<br />due date thereof to cover the extra espe~nsc involved in handlingdelinquentpayments, but such
<br />"late charge" shall not be payable out of the proceeds of any sale made to satisfy the indebted-
<br />rrces securrrt h~+reby, unless such proceeds are sufRciertt to discharge the entire indebtedness and
<br />aq proper costs and expenses secured thereby.
<br />3. If the total of the payments made by the Mortgagor under {a) of paragraph 2 preceding shall
<br />exee~l the amount of payments actually made by the Mortgagee, as trustee, far ground rents, taxes and
<br />asseasmekrts ar insurance premiums, as the case may be, such excess shall be credited by the Mortgagee
<br />nn subsequent payments to be made by the Mortgag+ur for such items or, at Mortgag+ee's option, as trustee,
<br />s}kall 6e refunded to Mortgagor. If, however, such monthly payments shalt sot. be sufficient to pay such
<br />iteroa when the same shall become due and payable, then the Mortgagor shall pay to the Mortgagee, as
<br />trustee, any amoun# necessary tr> make up the deficiency within thirty (30) days after written notice from
<br />the ~iartgseee stating tike amount of the deficiency, which notice may be given by mail. If at any time
<br />t~ Meatt~,grkr shall feeder to the Mortgagee, in accordance with the provisions of the note secured
<br />hereby, foil payment of tike entire iadebtedtr~a represented thereby, the Mortgagee, as trustee, shall,
<br />is eotnp+rtik~ the akmrunt of such indebtedness, credit to the account of the Mortgagor any credit balance
<br />akxitmrkklatted under the provisions of (at of paragraph 2 her~f. If there alkgll be a default -under say
<br />of the provisianrs of this mortgage resulting in a public sale of the premises covered hereby, or if the
<br />~ ar~uires ~ proprltcy otherwise after default, the Mortgagee, as trustee, shall apply, ai the
<br />time of the t of such prtx~edings, or at the time the property is otherwese acquired, the
<br />amkw$t then remaining to credit the Mortgagor under dal of paragraph 2 preceding, es a credit on the
<br />inferest sextued sad unpaid and the balance to the principal then remaining unpaid on said nom,
<br />4. The dean of this instrument shalt remain in full farce and effect during any postponement or exten-
<br />sion of the time of payment of the indebtedness or any part thereof secured hereby.
<br />a. F#e ~i12 pay ail ground rants, taxes, aseeasnkenfs. water rakes, and other governmental or munici-
<br />pa-l tI~ fln€taa, or iknpositiexrks, levied upon said premises and that he will pay all faxes levied upon this
<br />~. ItT L19e debt secured thereby, together with arty other taxos ar asseoasments which may be levied
<br />ken~ieg the Iahrfk oC Me#ktsska against the Rortgagee, or rho legal holder of said principal note, an account of
<br />this irat~ks, watpept when fmykrkent tar all such items has therstafare boars made under (a) oY parer
<br />grs~ E hsr~xfc slut he will prirrnptty rleli+rer the ofY~ial receipts therefor rKr llte Mortgagee. In default
<br />t1r~of ttrrt I~rtgagae uray pay the skusre,
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