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Home My WebLink About2248 YI } • ~ ~ F ~ j: . I~ PROVIDED AI.wAYS, and these presents are executed and deli~~er~~d upon the follo~ving conditions, ta ~ ~sit: The mortgagor agrees to pay the mortgagee, or order, the principal sum of THIRTEIIr` THOUS~ND NINE HUNDR~D and 00~100- - - - _ _ _ _ _ _ _ - - - - - - - - - - - - - - - - Dollars 13,900.00 as evidenced by a note of even date here«~ith, «~ith interest fram date at the rate of F3ve ,~t pe~e-f0yrth per centum ( r~ ) per annum on the un- paid balance untii paid. The said principal and interest shall be payable at the office of J. I. IISL[1a ~,GE COaP0~R1~TI~ !'L0~[D~A in ~i, Florida ~ or at such other place as the holder of the note may designate in ~vriting, in monthl~- installments of ~ SE'VFNTY-SIX a?nd 87/100- - - - - - - - - -Dollars 76.87 commencing an the first day of Auguat , 19 65 , and on the first day of each month thereafter until the ! principal and interest are fully paid, except that the final payment of principal and intel•est, if nat sooner paid, shall be due and payable ~n the first day of July f, 1995 ; And shall duly, promptly, and fully perfarm, discharge, execute, effect, complete, and comply w~ith and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void. ~3 ; And the mortgagor further covenants as follow~s: - 1. That he wili pay the indebtedness, as hereinbefore provided. Pri~~ilege is reserved to pay the ~ debt in whole, or in aa amount equal to one or mo~•e monthly payments on the principal that are next due ~ oIi the note, on the first da~~ of any month prior to maturity : Pro~•ided, hc,~+•e~•ei•, that «•rittcn notice of an ~ intenLion tu exercise such pri~•ilege is gi~~en at least thirty (30) days prioi• to prepayment ; and, provided ~ further, that in the event the debt is paid in full prior to maturity and at th~it tirne it is insured under the provisions of tyhe Idational Housing Act, he will pay to the mortgagee an adjusted premium charge of ~ one per centum ~ 1~'f ) of the original principal amount thereof, except that in no e~~ent shall the adjusied ~ premium exceed the aggregate amount af premium charges which would have been payak,le if the ntart- ~ gage had continued to be insured until maturity ; such payment to be applied uy the mortgagee upon its obligatian to the Federal Housiiig Commissioner on account of mortgage ~nsut•ance. ~ 2. That, in order more fully to protect thc security of this mortgage, the mortg~gor, together with, ~ and in addit~on to, the monthly pa,r~ments tmder the terms of the note secured hereb~~, on the first day of ` each month until the said r~ote is fuliy paid, wili p~~y to the rnortgagee the follow~ing sums: " (a ) An amount sufficie~nt to pi•o~~ide the holder hereof tiaith fun~is to pay~ the next mortgage ~ instii•ance pi•emium if this insti•umeni and the note secui•ed hereby are insui•ed, oi• a montht~~ charge * (lIl li2u of a rnortgage insurance premium) if they are held by the Federal Housing Commissioner, as follou•s : ~ If and so lon~ as said note of e~•en date and this instrument are insu~ed or are reinsured under the ~ provisians of the \ational Hous:n~* Act, an amount suf~5cient to accumulate in thc: hands of the holder . one f 1 j month priur to its due ciate the unnual mortgage insurance premium, in order to pro~•ide such 3 holder w•ith fu~~ds to ~~ay such prenrium to the Federal Hausing Commis~ionc~r ~~ur;uant to the tiational Housin~ Act, as amended, ancl applicable ReRulations thereunder; or ~ (n) If and so lanR as said note of e~•en date and this ii~strument are held b~• the Federal Housin~ Commis- sioner, a monthly char~*e (in lieu of a mort~a~e insurance premium) w•hich shall be in an amount ~ equal to one-tw•elfth (~:i of one-half (?a) per centum of th~ a~•era~e outstar.ding balance dueon the ' note computed without takin~ into account delinyuenries or prepa>~ments; (b) A sum equal to the ground rents, if any, next due, plus the premiums that w~ill next become due and pa~'able on policies of fire and other hazard irtsurance co~~ering the m~>rtKage~~3 property, plus tases and assessments next due on the mortgaged property (all as estirnated b~~ the mort~agee) less ail sums alread~• paid therefor di~•ided b~~ the number of munths to elapse before one month prior to the date when such grr~und rents, premiums, taxes, and assessments w•ill Uecome delinquent, such sums to be held by mortgagee in trust to pay said ground rents, premiums, taxes, and special assess- ments ; and (c) All pa~~ment5 mentioned in the two preceding subsections of this paragraph anci all pay- ments to be made under the note secured hereby slrall be added together and the aggregate amount thereof shall be paid by the mortgagor e~ach month in a single payment to be applied by the mort- 1' gagee to the following items in the order set forth : ~ (i) premium char~es under the contract of insurance witt~ the Fe-cleral Hou~ing Commi::si~mer, ~r mnr~thl~- ~ char~e (in lieu of mort~age insin•ance premium), as tl~e ca~e ma~- be; (u) gi•ound rents, taxes, assessment~, fire, an~.i o?hei• hazard insurar.ce i~remiutns; ~ (iu) interc•st on the note secisred hereby; an~i i'. (tt~) amortizatian of the principal of said note. ~ Any deficienc~- in the amount of such aggregate monthl~~ par~~~ent shall, unless made goocl by the _ mortgagor prior to the due date of ihe :~ext such pa~•ment, const!tute an e~~ent of default unde?• this mort- I ' gage. The mortgagee may cullect a"iate c}~arge" not to excec.~d t~a-o cents (2~~) for eac:h dollar ($1) of 1 each payment more than fifteen (l:~j days in arrears to co~•er t}-ie extra expense in~•ol~-ed i~i handling ; delinquent ~ayments. ~ , 3. That if the total of the pa~•rnents made b~• the mortgagor undei• (b) of paragraph 2 preceding shall ~ ~ ~ ~ exceed the amount of na~•ments actuall~• made b~• the mort~agee, for ~round rents, ta~es an~i assc~scments ` and insuran~e premiums, as the case may be, such excers shall be cre~3ited by the mortgagee on subsequent ~ payments fo be made by tne mortgagor. If, howe~•er, the monthly~ payments macie by the mortgagor ~ ~ under (b) of paragraph 2 pre~eding shall not be sufficient to pay graund rents, taxes and assessments ' and insurance premiums, as the case may be, w~hen the same shall become ~ue and pa~•able, then trie i mortgagor shall pay to the mortgagee any am~unt necessary to make up the deficiency, on or bef'ore the j date w~en payment of such ground, rents, taxes, assessments, or insurance premiums shall be due. If I at any time the mortgagor shall tender to the mortgagee in ~ccordance with the provisions of the :~c~te ! secured hereby, full payment of the entire indebtedness represented thereby, the mortgagee sha11, ;n cam- ; puting the amount of such indebtedness, credit to the account of the mortgagor all pay-ments made u~~der ~ ~ the provisions of (a) of paragraph 2 hereof which the mortgagee has not become obligated ta pa~• to the Federal Housing Commissioner and any balance remaining in the funds accumutated under the pru~ isions ~ of (b) of said paragraph 2. If there ahall be a default under any of the provisions of this rno~•tgage, r•e- sulting in a public sa3e of the premises covered hereby, or if the mortgagee acquires the propertti~ other- wise after default, the mortgagee shall apply, at the time of the commencement of such proceedis~gs or at the time the praperty is otherw•ise acquired, the balance then remaining in the fi~nds accumulateci under _ (b) af paragraph 2 preceding as a credit against the amaunt of principal then remaining unpaid under said not~e and shall properly ad;ust any payments which shali have been made under (a) of said p~ragraph. i. 4, That he v~ ill pay all taxes, assessme~n R, water rates, and other gc,~~ernmental or municipal charges, ~ ~f~~K i21 ~45 ~ -