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Home My WebLink About1420 I PR~~vIt~E:t~ At.~~'a~'~, ~in~i thesc~ prc~sE~ntc; ~zrc~ rxeeut~~ci apci deli~-ere~~i u~~cm thr fullo~~•in~ ecmiiitic~i~s, t~~ i t : . Th~~ mortgagor~ a~rec>s to pa~• the mortg~gee, or order, thc~ principtil ~um of EI.E~~1 THOUSAND FOUR HUN DRLD gn d 00/ 1 ~0 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Dollars 11 ~ 4pp~ pp as e~•ideneed b~~ n note of e~•en date heT•e«~ith, ~~•ith interest frc~rn c~ate at the rate of ~ve d~ Orie•rouxth per centum ( ~ ) per annum on thE~ un- paicl balance until paid. 'Ihe ssid principa] and inter~st shall be payable at the office of J. I. LISLd= ~IQRTG1.a& COBPO~TIOd~ GF FLOi821aA itY Mia~3, Florida or at such ~ther place as the holder of the note may designate in «~riting, in monthl~~ instaliments of SIXTX-T~ and 04~Z00- - - - - - - - - - Dollars 6j.04 comme~ncing on the first day of July , 19 65 , and on the first day of each month thereafter until the priiicipal and interest are fully paid, escept that the ftnal payment of principal and inte~•est, if not sooner paid, shali be due and pai•able on the first ~iay of JuxYe , 1995 ~ And shall duly, promptly, and fully perform, discharge, execute, effect, complete, and compl~~ with and abide b~~ each and e~•ery the stipulations, agreements, coi?ditions, and covenants of said promissory~ nofe and of this rnartgage, then this rtiortgage and the est:ite hereby created shall ce~se and be null and ti~oid. And the mortgagor further corenants as follou~s: 1. That he will pay the indebtedness, as hereinl~efore provided. Pri~•ile~e is z•eserved to pay the ctebt in w•hule, or in an amount equal to otie or m<~re m~~ntlily pa~•ments ~~n t.lie ~~i•inci~~~~l tli~t are neat due on the note, an the first da~~ of an~• month priox• to maturity: Yro~•ided, ho~~•c~•er, that ~~'I'lttCIl IlOtICC Ot an liltf'lltl(~Il CO ~'XE'tl'ISC Si1CIl ~tl\'lIE'~~ 1S $1\'Eti c`lt ~P1St t~11Cty (30} days priui• tu E~repayment; c`1I1C1, ~~ro~•icled further, that in the event the det~t is p~iid in full prior to maturity and at that time it is insured under the pro~~isions of the National Huusing Act, he wi11 pay to the mortgagee an adjusted premium charge c~f one per centum ( t~~ ) of the original principal amount thereof, except that in no e~~ent shall the adjusted premium e~ceed the a~gregate amc~unt of premium charges which K~ould ha~•e been payahle if the mort- gage had continued to be insured until ~~aturit~•; such payment to be applied by the nwrtgagee tipon its obligation to the Federal Housing C~mmissiouer on account of mortgage ~nsurance. That, itt order more full~° to protect thc securit~~ of this mortgage, the mortgagor, to~ether w•ith, and in addition to, the munthly payments under the terms of the note secured hertU~~, ot~ tiie first day uf each month until the said note is fuily~ paid, will ~f~cy to the mortgagee the follo~+•in~ sums: (n ) An amount suff~icient to pi•ot•ide the hoider hereo~ ~i•ith funds to pa~• the next moi•tgage insurance premiun~ if this instrument znd the note securecl hereb~• are insured, o~• a monthly rharge 1 in lieu of 1 murtgage insurance premium) if the~~ are held b~' the Fecier~l Hoas~ng Commissionei•, as fullo~~~s : (i) Ii and so lon~ as said note of e~•en date and this instrument are insured or are rc~insure<i un~ler th<• ~~ro~•isioi~s of the \ational Housins; Act, an amatint suNi~ient to atc~~mulate in the hands of the hul~3ci one (1 ) month prior to its due dale the .innua! niort~age insurance premium, it~ r,rder t~ prnt•ide such hoider ~~•ith funris to p1t~ such nremium to the Fe~iera! Houc>>~,~ Commis~ir,nf•r pursuant to the \ational Hou~in~; Act, as amended, and a~~plicablo Re~;ulations thereundc•i ; or I ~i ) If anil so lonK as said note of e~•en ilate and this instrumcnt arr_ h~~t~? bi~ thc• Fetlc~ral HousinK Comrnis- sioner, a moiithlc charge (in lieu of a mortKa~e. ir.surance pretnium) «~hich ;hall be in an ati:ount equal to onF-t~•elfth of one-half ) 4~e•t• centum of thr a~•eray;e nutstandin~; ba?ance du~ on th~ note con:Fa;iteii a~ithout taking into acrount delenquencies or ~~re~rayments; (b} ~ sum equai to the grounc~ rents, if any, next due, plus the premiums that i~•ill next become ciue and pa~•al~le on r~olicies of fire and other hazard insurance co~•Erin~ the m~rrtg<iged ~~rc~pert~•, plus taxes and assessments next due on tlle mortgaged propert,v (all ~s estimated t,~• the ma?•t~a~ee) less all sums al~~eaci~~ ~~aid therefoi• di~•ided i~y the number of' rt~unttis to elapsc.~ befoi•e ~r2e month prior to the date ~i•hen such grounc~ rents, pren~iums, tares, and assessments r~~ill 'oecume delinquent, such sums to be held by mortgagee in trust to ~a~' SAId KI'OUitt~ 2't'ilt5, })2'EiI11U111S, taxes, and special assess- 111Qi1tS; a3Ti(i (c) All pa~•ments mentioned in the tw•o preceding subsections of ti~is paragraph and alt pa~•- meYits to t~e made under the note secured hereb,v shall be ac~dec~ together• and tlie aggregate an~ount thereof sh~zli be ~~aid b~~ the mortgagor each month in a single pa}•ment to be app]ied by the mort- gagee to the follo«~in~ items in the order set forth: (t) pi~emiuin r}~at•Kes undec• the contract of ;nsui•ance with ihe Fedeial Eiou~ing Conunissioner, n~• ntnnt~~l~' chz~•ge (in lieu o; mort~a~e insurance Fremiumj, as thr ca~.e ~nati~ he; {I~ ) y;i•nuncl rc~nt~, ta~e~, as~es~ments, fire, and uther haz~rcl insurance ~~rF~miums; ~itt) inteic•~t on thc• note scc~irE~d h~reby; anrj (?t') a~tiortization of ihe ~~rinci~~al of said note. r~n~• c~eficienc~• in the amotant of such aggreAate Tr.anthl~~ pa}~ri~ent shall, unless made good bs~ the mortgagor pr;oi• to the c3ue date of tl~c= next such pa~•mpnt, constittite an e~•ent of default u:ider this mort- gage. 'The mort~agee rna}• culiect a"late chaa•ge" not to exceed t~ti•o cents (2c) for each dollar (~1) af each payment more than fifteeri (1~) da~•s in arrears to co~~cr the extra expenst in~•ol~~ed in handlin~ delinquent payments. 3. That if the total of the ~3a~~ments made by the mortgagor uncler (6) of paragraph 2 preceding shall et:ceed the amount of na~•ments actuall~• made b~• the mat•t~a~ee, for ~round rents, t~xes anr~ asCE~sGments ~ and insurance premiums, as the case may be, such excess shail be credited by the mortgagee on subsequent f ~ pavments t,o be made by the mortgagor. If, ho~c•evec•, the rnonthly pa}•ments made b~~ the mortgagor under (b) of paragraph 2 preceding shall not be sufficient to pay ground rents, taxes and assessments and insurance premiurns, as the case may be, w•hen the sarr~e shall become due and pa~•able, then the mortgagor ahall pay to the mortgagee any amount necessary ta tnake up ~he deficiency, on or beforE~ thF~ F date when payrnent of such ground. rents, taxes, assessments, or insurance premiurris sha!1 be due. If ; at any time the mortgagor shall tender to #.he mortgage~ in accordance with the provisions of the note ~ secured herebti~, full payment of the entire indebtedness represented thereby, the mortgagee shali, ~n com- puting the amounL of such indebtedness, crediE to the account of the mortgagor alt payments macie uncter the provisions of (a) of paragraph 2 hereof which the martgagee has not become obligated to pa~• to t}~E~ Federal Hou~ing Commissioner anc3 any balance remaining in the funds accumulated under the pro~ isions of (b) of said pat•agraph 2. If thei•e shall be a default under any of the provisions of this moi•tgage, i•e- sulting in a public ~ale of the premises covered hergby, or if the mortgagee acquires ttte propert~- ather- wise after default, the mortgagee shall apply, at the time of the commencement of such proceec~ings ur at the time the property is otherwise acquired, the balance then remaining in thc funds accumulated under (b) of paragraph 2 preceding as a credit against the amount of principal then remaining unpaid uncier ~ said note and shall property adjust any payments which shall have been made under (a) of said paragi•anh. 4. That he will pay all taxes, assessments ~a er rates ther go~•ernmental or municipal charges, ~ _