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<br />81 -- s)u3427
<br />To FIAYE Axn To HOI.n the same unto the Mortgagee, as herein provided. Mortgagor represents to,
<br />• and covenants with, the Mortgagee, that the Mortgagor has good right to sel! and convey said premises;
<br />that they are free from encumbrance, except as hereinotherwise recited ;that the Mortgagor will warrant
<br />and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes
<br />all rights of homestead, all marital rights, either in law or in equity, and all other contingent interests of
<br />the Mortgagor in and to the above-described premises.
<br />PROVIDffi ALWAYS, and these presents are executed and delivered upon the following conditions, t0
<br />wit:
<br />Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum ~4~th interest from date
<br />at the rate of fifteen 6 one half per centum (15.5=) Per annum on the unpaid balance until paid.
<br />The said principal and interest shall be payable at the urrce of yortgage 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 Mortgagor, in monthly installments of Seven Hundzed Four and 70/100ths
<br />Dollars ($ 704.70 ), commencing an the first day of August , 19 g l ,and continuing on
<br />,the first day of each month thereafter until said Hate is fully paid, except that, if not sooner paid, the final
<br />payment of principal and interest shalt be due and payable on the first day of July 2011 :aft
<br />according to the terms of a certain promissory Hate of even date herewith executed by the said Mortgagor.
<br />Tho Mnrtvsynr flrrther agrees:
<br />1. He will pay the indebtedness, as hereinbefo+r provided. Privilege is reserved to prepay at any
<br />time, without premium or fee, the entire indehtedness ur any part thereof not less than the amount of one
<br />installment, or one hundred dollars ($100.00), whichever is less. Prepayment in full shall be credited on
<br />the-date received. Partial prepayment, other than on an installment due date, nevi not be credited until
<br />the next following installment due date or thirty days after such prepayment, whichever is earlier.
<br />2 Together with, and in addition to, the monthly payments of principal and interest payable under
<br />the terms of the note secured hereby, Mortgagor will pay to hortgagee, as tntstee, (under the terms of this
<br />feral as hereinafter stated) an the fleet day of each month until said note is fully paid:
<br />(a) A sumequal to the grnund rents, if any, next due, plus the premiums that wilt next become due
<br />and payable un lx+licies of fim and other hazard insurance covering the mortgaged property,
<br />plus taxes anct assessments next due nn the mortgaged property (alt as estimated by the Mort-
<br />gagee. and of which the Aortgagor is notificKFl less all sums already paid therefor divided by
<br />the number of m+=~+ths to elapse bciure one rnunth prior to the date when such ground rents,
<br />premiums, taxes and assessments gilt tmcume delinquent, such sums to be held by MarLgagee
<br />in trust to pa}- said geuund rents, premiums, taxes and special assessments.
<br />(b) Tile aggregate of the arnuunts pays+ble pursuant to ::ubparaytraph {teF and those payable on the
<br />cute secured hereby, shall to laid in a single payment ~-ach month, in Fie applied t.o Lhe follow-
<br />ingitems in ihe~rder staled :
<br />(IF ground rants, taxes,:+sssesments, Mire and rather bazar! insurance premiums;
<br />l iI) interest ern the note secured hereby :and
<br />(tII) amortization of the principal ,,:£ ;aid auto.
<br />At>S deficiency iir the arnuunt of any such aggregate mutithly payment shall. unless anode good.
<br />by the lortgagor prior to the due date .+f the next such payment, cunstitu#e an event of default
<br />under this mortgage. AL ~iartgagee's ut=tiun, ylortgaFt+,r will pay a "late charge" not exceed-
<br />ing four per centum f ~l',:) of auy ir~tait ir,emm =siuvr paid more than fitt~n (15) days after the
<br />due date thereof to cover the extra ,:x1x•ix~ iu.ulved iu handling delinuuant payments, but such
<br />"late charge" shalt not ix payable out of the proceeds of any sale made to satisfy the indebted-
<br />ness sex ur'ed hereby, unless such Alex ctixis are suifirienG to discharge the entire indebtedness and
<br />all proper costs and expenses secured thereby.
<br />3. If the fatal of the payments trmde by the Mortgagor under (a) of paragraph 2 preceding shall
<br />exc~d tits atnouat of payments actually trade by tPle Mortgagee, as trustee. for ground rents, taxes and
<br />assesantents or itraurance greaiitlms, as the rase troy be, such excess shall be credited by the Mortgagee
<br />oa aulleequent payments to be made by the Mortgagor for such items or, at Mortgagee`s option, as trustee,
<br />shelf be refhnded to Mortgagor. lf, however, such monthly payments shall not be sufficient to pay such
<br />itraars when -the same shall become due and payable, then the :4lartgagor shall pay to the Mortgagee, as
<br />trustee, atgr amotmt necessary to make up the rleficienc:y within thirty (30) days after written nutire front
<br />the Mortgagee stating the amount of the deficiency, which notice may be given by trail. If at any time
<br />fim Mortgagor shall tender to the Mortgagee, in acrurdance with the previsions of the note serul•ed
<br />hereby, fnli payment of the Entire indebtedtteas represented thereby, the Mortgagee, as trltstee, shah!,
<br />in putitlg the amouat of such indebtedness, credit w the account u> *he Mortgagor any credit balance
<br />accumulated wader the pmviaiona of (a} of paragraph 2 hereof. If there shall be a default under any
<br />of the grovis#oaa of thin mortgage resulting in a puWie sale o€ the premises ctrvered hereby, or if Uie
<br />DQ+r~tgagee acquires the property otherwise after de€ault, the ~laatgagee, as trustee, shall apply, at the
<br />time of the eoaFmotrce`.n2eat o€ srleh proceedings, or at file time the Property is otherwise aequir•Ed, the
<br />amc~ttit then r~t-intag to credit. the Mortgagor under (a) o€ paragraph 2 precedutg, as a credit en the
<br />iiifara§at trued and unpaid and the kratance to the principal then remaining unpaid an said note,
<br />A, The luau of this instrutncnt shall retrain in full force and effect during any pustpunerrrcwt or exten-
<br />aioa of the lisle o€ payment of the itidetttedness or any part tlterrof secured hereby.
<br />5. He will gay all ground rents, taxed, :rsseusinants, wattle ralex, acid other govErlunental ar mutlici-
<br />pai charges, linos, or impssitions, le'<ied upi}n said. prsziis€:a surd that he will gay all taxes levied upon this
<br />ttsortycagc, or the debt secureel thetalay, together with any outer taxes or assessnents svlrirlt may Fac Fevied
<br />trader the laws of Ieleirtaska agaitutt the Mortgagee, or the legal holder of e+aid principa[ lisle, an account o€
<br />1}>is iaaiebtedn~N, tixeept when payment #csr alI ~uctt itarru- has thereto€are been-mach under (u) ui.' parts-
<br />. ~rr'agh 2 hurl€, and Fie will promptly deliver tttr crtlieiaF receipts therefor to the Mortysg+~. tit default
<br />tiir3i~uf the Mot~tgagee anay Pay the sarste.
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