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Home My WebLink About0924 PROVtnE[~ r1t.~t'al':, ~Zncl t}ie~,c: pres;~nts ar~~ c~~ecut~~d titid delit•ered tipori tt?t~ f~~llo«•ing cc,n~litions, ta ~rit: The mortKagor agrees to p~~~~ the mo~~t~agr~e, or c~rc~er, the prineipal sum of THIB?S~1 ~E{yU8llfD FIFS'Z yd 00i100- - - - - - - - - - - - - - - - - - Dollars 1~~O5p~Op as e~•icienced L~• a note of even date her~~~~ith, «•ith intei•est from date at the rate of ~~e ~~e~,~~~ per centum ( ~ ) per annum on the un- paid balance until paid. The said principal and interest shall be pa~•able a the oftiee of J. I. EISLAIC ~AGE CORP'QR~TIOg OQ~ FLDRtI1R it~ M~.~1 ~ Flosida or at such other place as the holder• of the note mz~• ~~esignate in ~ti•riting, in rnonthl~• installrrients of S8'~1~37-TMO and 17/100- _ - _ - _ _ _ _ _ Doilars 72.17 commencing on the first day- of J~r , 19~5 , arid on the first da~• of each month the2•eafter until the principal and interest are fully paid, except tY~at t~~ final pa~•mPnt of principal and intei•est, if not sooner paid, shall be due and payabte on th~ first da~• of Jws~ , 1~ 95 ~ And shall duly, promptlv, and fully perfol•m, discharge, exQCUte, effect, eomplete, and c~mply with and abide t~y each and e~•ery the stipulations, agreements, conditions, and cavenants of said promissory note and of this n~ortgage, then this mortgage and t}ae e:,tate hereby created shall cease and be null and v~id. ~nd the mortgagor further covenants as folio~?s: 1. That he will pay the indebtedness, as hereiti!>efore provided. Yri~•ile~e is ~~eserved to pay the debt in whole, or in an amount ec~ual to une ~~r mure m~~nthly payments on the i~rincipal that are next due or~ the note, on the first da~• of ati~• ri~c~titti p?~ior to maturity : Pro~•ided, hoµ~e~•ei•, that ~•rittcn notice of an intention ta exercise such pri~~ilege is gi~~en at least thirty (30) da~~s pric~r ta prex?ay~ment; and, provicled further, that in the event t}ie cieF?t is ~~aid in f~ill ~~rior to maturity and at t}~at time it is instired ur~dei• the provisions of the National ~iousing Act, he will pay to the mortgagee an adjusted premium charge of one per centum (lr~) of the origit~al principal amount thereof, except th:~t in no event shall the adjusted premium e~ceed the aggregate amount of pi•emium ch~rges which wautd have been pay~able if the mort- gage had continued to be insiared until matt~rit~~; such payment to 6e applied by the mortgagee upon its obligation to the ~'ederal Housing Commissioner on account of mortgagP ~nsui•ance. S:. That, in order more full~• to protect the security of this mortgage, the mortgagor, together ~s~ith, and in addition ta, the munthl~~ pa~•ments under the terms of the note secured hereb~-, on tiie fii•st day of each month until the s~id note is fut?~~ paid, wili {~~ty tu the mortgagee the following sums: (a} An amount sufficient to pro~~ide ±he hotder hereof ~~•ith funds to pa~• the tiext mortgage instii~ance premium ii this lllSl2'L1111PI1t ~~nd the nnte secitred hereby are itisured, or a monthiy charge { in lieu of a niortgage insui-ancc~ preniium) ii the5• are held by the Federal Housing Commissiarier, ~is follo~?~s : If and so long as said note of e~•en date atid this instrument ai•e insured or are i•einsurect under th~ ~,ro4~isions of the \stional Hou,in~ ~ct, an amount sufficient to accumulate in the hands of the holder one (1) manth prior to its ~tu~ date thr ur.nual mortgage insurance premiun~, in orda~r ta pro~~ide s~ch ho(der with funds to ~~a}• such premium to the Federal Hausing Comn~is:;ioner ~~ursu~r~t to t}te :~ational HousinR Act, as amended, and a~,plicablo ReKulations thereunder; or (~t) If and so IunR as sa:d note of e~~~n date anri this in~trument are field by~ the Federal Housir~ Commis- sioner, a monthl}• charRt> (in lie:u of a mort~aRe insurance prernium) which shall he in an amount equal to one-tw•elfth (1'~ of one-half ~)~~er cc~ntum of the averaKe outstan~lin~ balance duo on the note computed ~+•ithout takinR into account delinquencies or prepayments; (b) A sum equai to the ground rents, if any, next due, pius the ~remiums that w~ill next become - due ~~nd payaf~le on Policies of fire and c>ther hazard ir.surance co~~ering the rnc»•tgaged pro~~ert~~, plus t~.xes and assessments next due on tlie m~~rtgaged property (all as estimated hr the mortFagee) less all sums alread~~ paid therefor di~~ided 1i}~ the number of munths to elapse before otte month prior to the d~te when sucii ground ?•ents, ~~remiums, taxes, and ~isse~sments w•i11 become delinquent, such s~ms to t3e held by n~ortgagee in trust to pay ~aid ground rents, premiums, taxes, and special assess- ments ; and (c) All payments mentioned in the tw•o preceding subsertions ~f this paragraph and all pay- ments to be made undQr the note secured hereb~• shall be added together and the aggregate arnount thereof shaii ba. paid Ly the n~ortgagor each month in a single payment to be appliec~ by the mort- gagee to the follawing items in the order set forth: (i) premium chai•~,~es unrlet• the contract of insu~ance with the Fedc•ra~ Housin~; Commission~i•, or monti•~1:~ char~e (in licu of mort~age insu~~ance premium), as the case map be; f t[ j~rn~~n~t rents, taxe:, assc~s=rn<~nts, fire, and vther hazarrl insurance ~rc~miums; . (ttt) intere,t oii thc~ riote secured h~reby; ~n~ ~ (s~•) amortization of the F~rinci~,al of ~auf note. Ant~ de~cienc~• in the amount of ~UC~1 ag~rreg~te monthl~~ pa}~~~ent shall, unless made good by the ' martga~or ~~rior to the due date of thc r~c~tit sueh ~ati~ment, eonstitute an e~-ent of c~efault under ti~is rnort- gage. The mortgagee ma}~ cullect a"late charge" noi to exceec3 t«•o cents ('Z~~) for each dollar ($1) of each payment more than fifteeii (15) da}~s ir, arrears to ca~•er the extra expense ir~vQl~•ed in handiin~ delinquent payments. 3. 'I`hat if the fotai of the ~~a~•ments macte i~~~ thP mortgagor under (b) of ~~aragraph 2 preceding shall exceec~ the amount of pa~•n.zents aettza)l~• rr~ade b~• the n~ort~agee, for ground rents, taxes anc~ astiec~ments and ~nsurance premiums, as the case tnay be, such excess shall be credited by the mortgagee on subs~quent pay-rnents to be made by the mortgagor. If, ho}~•ee•er, the monthly pati~ments made by the mortgagor under (b) of para~,rraph 2 preceding shall not be sufficient to pay ground rents, taxes and assessments and insttrance premiums, as the case may be, when the same sh~ll become due and pa~•able, then the mortgagor shall pay to the mortgagee any amount necessary to make up the deficiency, on or before the dat~ w•hen gayment of suck~ ground. rents, taxes, assessments, or insurance premiums shall be due. If at any time the mortgagor shall tender to the mortgagee in accordance with the provisions of the note secured herebp, fuil payment af the entire indebtedness represented thereby, the mortgagee shall, ~n com- puting the amount of such indebtedness, credit to the account of the mortgagor all payments made uncier the pro~•isions of (a) of paragraph 2 hereof whic}i ~he mort~agee has not become obligat~d to pa~• to the Federal Housing Commissioner and any balance remaining in the funds accumulated under the pro~.~isions af (b) of said gaz•agraph 2. If thez•e shall be a defaul~ under any of the provisions of this moi~tgage, re- sulting in a public sale of the premises co~~ered hereby, or if the mortgagee acquires ~he propert~• other- wise after defauit, the mortgagee shall apply , at Lhe time of the commencement af such proceedings or at the time ihe property is otherwise acquired, the balance then remaining in the funds accumulated urrcier {b) of paragraph 2 preceding as a credit against the amount of principal then remaini.ig unpaid under said note and shall properly adjust any payments w•hich shall have been made under (a) of said paragi•aph, 4~ That he will pay all taxes, assessments, K~ater rates, and oth~r governmtntal or municipal charge~, r~ ~~~K ~1g