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<br />TO HavE axe To HoLn the same unto the Martgagee, as herein provided. Mortgagor represents to,
<br />and covenants with, the Mortgagee, that the Mortgagor has gaol right to sett and convey said premises;
<br />that they are free from encumbrance, except as hereinotherwise recited ;that the Mortgagor will warrant
<br />Viand defend the same against the Iatrful claims of all persons whomsaever. Mortgagor hereby relinquishes
<br />,^+,,pall rights of homestead, all marital rights, either in law or in equity, and all ether contingent interests of
<br />E~the t3€ortgagor in-and to the above-described premises.
<br />'^'' P"~o'r'[i3~'Si Ai,w~YS. and t.ltase presents are executed and delivered open the following conditions, to
<br />wit
<br />Mortgagor agrees to pay to the Martgagee, or order, the aforesaid principal stun with interest from date
<br />at the rate of fourteen per centum {14.0~1e) per annum on the unpaid balance until paid.
<br />The said principal and interest shall l;e payable at the office of Mortgage E~2us Incorporated
<br />~ in Englewood, Colorado , or at such other place as the ho}der of the Hate may designate in
<br />writing delivered or mailed to the Mortgagor, in monthly installments of Three Hundred Sixty Seven and 35/
<br />Dotlars ($ 367.35 ), commencing on the first day of May , 1981 ,and eontinuingb0oths
<br />the first day of each month thereafter until said note is fully paid, except that, if not sooner paid, fire final
<br />payment of principal and interest shall be due and payable on the first clay of April 2011 ;all
<br />according to the terms of a certain promissory note of even date herewith executed by the said Mortgagor.
<br />The Mortgagor further agrees:
<br />1. He rvi11 pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br />time, without premium ot• fee. the entire Sndebtedress ar env part thereof not less Than the amount of one
<br />installment, or one hundred de;llars f$I00.001, whichever is less. Prepayment in full shall be credited on
<br />the date received. Partial prepayment, otirer than on an installment due date, need not be credited until
<br />the next following installment due date or thirty days after such prepayment, whichever is eazlier.
<br />2. Together with, and in addition to, 'he monthly payments of principal and interest payable under
<br />the terms of the note secured hereby, Mortgagor will pay to yortgagee, 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 e=qual to the ground rents, if any, next due, plus the premiums that will next become due
<br />and payable on policies of fire and •~~her hazard insurance covering the rucrtgaged property,
<br />plus taxes and assessments next due an the mortgaged property (sll as estimated by the Mort-
<br />gagee, and oi' •.chich the Mortgagor is natified) Irss all sums ah•eady paid therefor divided by
<br />the number of months to elapse befare one month prier to the Mate when such ground rents,
<br />premiums, taxes and assessments,rill become delinquent, such sums to be held b•y Mortgagee
<br />in trust to pay said ground rti~nls, premiums, taxes and special assessments.
<br />(b) The aggregate of she amounts pa}able pursuant W subparagraph (a) and those payable on the
<br />rate secured herel;y, shall be paid in a single payment each month, to be applied to the faltow-
<br />ingitems in the urcler stated
<br />{t; ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />{3f} interest on the note securedhemby;and
<br />(tfI) amortization of the principa! of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless made good
<br />by the Mottgagor prior to the due date of the next such payment, constitute an event of default
<br />under this mortgage- At Mortgagee's option, Mortgagor will pay a'9ate charge'" not exceed-
<br />ing four per centum {4fi:) of any- installment when paid more than fifteen (15) days after the
<br />due date thereof to cover the extra expe;ns:~ invaiveci in handlingdehnquentpaymcats, but such
<br />"la*s chat•ge" shall not be payable out of the prucec;ds of any sale made to satisfy the indebted-
<br />ness secured hereby, unless such proceeds are sufticient to discharge the entire indebtedness and
<br />all proper costs and expensc;s sec:ureel thereby,
<br />3. if the tote! of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall
<br />exceed the amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxes anti
<br />assessments or insrrranre premiums, as the case may be, such excess shall be credited by the Mortgagee
<br />on subsequent pa7,•rrsents to be made by the Mortgagcr for such items ar, at Mortgagee's option, as trustee,
<br />shall be refunded to Mortgagor. If, however, sucdt monthly payments shall not be sufficient to pay such
<br />it~-s when the same sleall become due and payable, then the Mortgagar shall pay to the Mortgagee, as
<br />trustee, arty amount necessary to make up the deficiency within thirty (80} days after written notice from
<br />the Mortgagee stating the amaunt of the deficiency, which notice may be given by mail. If at any time
<br />the Mortgagor shalt tender to the Mortgagee, in accordance :with the provisions of the note secured
<br />hereby, fell payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall,
<br />in oorreputing the amaunt of such indebtedness, credit tfr the account of the Mortgagor any credit balance
<br />accumulated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any
<br />of the provisions of this mortgage resultingsn a public sale of the premises covered hereby, or if the
<br />~ axxitYir~ the property othi: ~,ise aftea default, the dortgagee, as trustee, shall aPP1Y, at rho
<br />time of the courtnencemeat of such proceedings, or at the time the property is otherwise acquired, the
<br />account then remaining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the
<br />intermt accrued ar3d unpaid and the balance to the principal then remaining unpaid on said note.
<br />~. Tim lads of this instrument shall remain in full farce and etfet;t during any paatpanernent or exten-
<br />sion of the time of payment of the indebtedness or any part thereof secured hereby.
<br />:z. He wit! pay ail ground rents, taxes, asscasrnettta, water rates, and other governmental ar munici-
<br />pal charges, frees, or impoaitiaris, levied upon said premisxrt and that }te wiU pay all taxes levied upon this
<br />rnortga~, or the drbt ~r;ured thereby, tagethcr t±°ith atty otlrcr taxer, ar assessments tchich may bo levied
<br />undex tree latvx a[ f~crd2raeka aftt+inat the ;titnrtgage+<, or the. legal pokier r,f said principa3 note, our accaunt of
<br />this irrai~r:btti~di~~ss, axa:€:pt wiser 1>Rrymeak fcr ail such iterrrs has tleerstof+.rre lxten rrrade. under ia} of Irara-
<br />gzrph 2 }ser€uf, ansl Ise will prate-ptly clcliver the «fl3eiai rr~nipts ther,for to iht: ?.tartgagrir. In default
<br />thcr+ue* the Nartgage>c rtuty` psv tht sarztc.
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