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1'ttc~~~tt~E:i~ :~t.~~~a~'~, an~i t}it~se ~~?•esents are ~~xecut~~d aiic; deli~•e?•ed upoii tht~ follo«•ing conditions, to
~~it:
The mort~z~or a~rees to ~~a~~ the mot•t~agee, ar order, the pi•incipai sum of YI1T= TB~S~D PtxTE
~RI'DR~ FIF!'T aY?d 00/100- - - - - - - ~ _ ~ - - _ - - - - - - - ~ - - - - - - - -
Dollars 9~450.00 as e~-idenced b~~ a note af even date here~~•ith, n•ith interest from date
at the rate of M~ f&~wtp~~ per centum ( ~ ) per annum on the un-
paicj t~alance until paid. The said principal and interest shal] be pt~~~abte at the office of
J. T. 9~'~teH7' ?lQRT(~?GE C~P~11'Y, IIfC. ia Coral ti~ble+1, F].oarid~
or ~t such other place as the holder of the note m~y designate in ~~•riting, in monthl~• installments of
FIFTY-TMfO aIId 26~100- - - - - - - - - - - Dollars 52~ 26 ) , commencing on
the first da~- of Jaisn~etr~` , 19 66 , and on the fii•st day of each month thereafter until the
~~rincipal and interest are ful~y paid, except that the fina] payment of principal and interest, if not sooner
paid, shall be due and payable on the first day of Dbo~ber , 1995 ;
And shall duly, promptly, and fully perform, discharge, execute, effect, complete, and comply with and
abide by each and e~•ery the stipulations, agreer.~ents, conditions, and covenants of said prom~ssory note
and of this mc~rtgage, then this mortgage and the est,ite hereby~ created shall cease and be null and void.
And the mortgagor further co~•enants as follow~s;
1. That he w•itl pay the indebtrdness, as hereir~l~efare provided. Pri~•ile~e is reserved to pay the
debi in whule, or in an amount equal to on~ or m~»•e m~,nthly paynients un the }~rinci~~al th~t are nex± due
OIl t~lE' ilOtt', on the tirst da~' of any~ month prior to maturity: Pro~~ided, }l(?~~'E\'E'1', that «~ritten notice of an
intention to exercise such pri~~iiege is gi~'en at least thirty (30) days priot• to prepayment; and, provided
further, th~at in the e~~ent the del~t is paid in full ~~rior to maturity and at that time it is insured undei•
the provisians of the National ~iousing Act, he wil! pay to the mortgagee an adjusted premium charge of
one per cEntum (1!'r ) of the original pri~icipal amount thereof, exce~;t that in iio e~~ent shall the adjusied
premium exceed the a~gi•egate amount of ~~ren~ium charges which would have been payable if the mort-
ga~e had continued to be insured until maturit~~; such payment to be applied by~ the mortgagee upvn its
obligati~n to ttie Fedei•al liousing Commissioner on account of mortgage ~nsui~ance.
2. That, in order more fully to protect the security of this mortgage, the mort~agor, together with,
and in a~dit~on to, the munthly p~yr:ients under the terms of the note secured hereby, on the first day of
each month until the said note is fully paid, will p~ty to the mortgagee the following sums:
(a) At2 amount sufficient to pi•o~•ide the holc~er hei•eof «~ith funcls to pa~~ the next moi•tgage
insurance pi•emium if tiris instrument and the note secured hereby are insured, or a monthty charge
( in lieu of x tnortgage insuraiice premium) if they are held b~~ the Fecier~l Housing Commissioner,
as Iollo~~'s :
(i) If ar.d so lonk as said note of e~•en ~iate and this instrument are insureci or are reins,~red under the
pro~•isions of the \ational Housin~ Act, an amount sufftcient to accumulate in the han~is of the holdei~
one (1) month prior to its rlue ~1ate the ann~al mortgage insurance premium, in order to pro~~ide such
hnl~ler «•ith f:nds tn ~ia~~ such prenrium to the Federal H~usin~; C'ommissianc~r pursuant to thc :\ational
Hausink Act, as amended, and ap~~licablc~ Regulations thereundc~r; or
(;~l If anrl so l~n~ as sai~1 note ~f e~•en date and this instrument are he~d bt~ the Federal Housin~ Conunis-
sioner, a monthl~~ char~ze (in lieu of a mort~a~e insurance ~~remium) «~hich shalt t,E~ in an arnount
equal to otie-tw•elfth ) of one-haif pei• centum of the a~•cra~;e outstanriin~; balance due on the
note co?tiputed ~~~ithout taking into account delinquencies or prepayments;
(h) A sum equal to the ground rents, if any, next due, plus the premiums that ~~~ill next become
due and ~~a}~al~le on policies of fire and other hazard insurance covering the mc,rtgaged prc~pert~~, plus
taxes and assessments nett due on tlie mortgaged property (all as estimate~i h~~ the mo?•t~agee) less ,
ail sums alread~• }~aid therefor di~•ided by~ the number of ntiunths to elapse ~efore oiie month prior
to the date w•hen such ground rents, premiums, taxes, and assessments w~ill become delinquent, such
sums to be held l~y mort~agee in trust to pay said ground rents, premiums, taxes, and special assess-
ments ; anci
(c) All pa~-meilts mentioned in the t~~~o pre~eding subsections of this paragraph and all pa~•-
ments to l~e made under the note secur~d hereby shall be added together and the aggregate an~ount
thereof shall be paid by the murtgagor each m~mth in a single pa~•ment to t;e applied by the mort-
gagee to the follow~ing items in the order set forth:
I~ren~ium char~;es uncler the contract of insiu•ance ~~•ith the Fa~rieral F~~usinc~ Connnissioiic~r, nr ri~onth~~•
chnr~;e (in lieu of m~rt~aKe ins~n•ance xn•emium), as thr case ma~• be;
i n 1 gr~~und re•nts, !axc~, asses;m~nts, fire, and other hazar~i insurance {~rc~miums;
~iit) iiitc•rc•st on thf~ note secuied hereby; and
(tc) timor•tization of the principal of said note.
An~~ def~cieTic~~ in the amount of such aggregate m~nthi~~ pa~~ment shall, unless macie good by the
rriortgagor prior to the due date of the next such pa~•ment, constitute a:~ e~-ent of default uncier this mort-
gage. The mortgagee may- cullect a"late charge" t~ot to exceed t~ti•o cents ('~'.c) for each dollar (~1) ~f
eacn payment more th~n fifteen (1;5) da5~s in arreat•s to co~~er the eyti•a expense in~~ol~•ec~ in handling
delinquent pa~~ments.
3. That if the total of the ~a~•ments ?nade by- the mortgagor under (b) of pai•agi•aph 2 preceding shall
e~ceed the amount of t~a~~ments actuall~~ made b~~ the mortga~ee, for ~zround rents, taxes and assescments
and insurance premiums, as the c~se mav be, such excess shall be credited by the mort.gag~e on subsequent
payme~its to be made b•~ the mortgagor. If, hok~ever, the monthly payments made by the mortgagor
under (b) of paragraph 2 preceding shall not be suflicient to pay ground rents, taxes and assessments
and insurance premiums, as the case may be, when the same shall become due and pa}•able, then the
mortgagor shall ~ay to the mortgagee any amount necessary to make up the deficiency, on or before the
date when payment of such ground. rents, taxes, assessments, or insurance premiums shall be due. [f
at any time the mortgagor shall tender to the mortgagee in a~cordance with the provisions of the i~ute
secured hereby, ful! payment of 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 under
the provisions of (a) of paragraph 2 hereof which the mortgagee has not become obligated to pa~• to ttie
Federal Housing Commissioner and any balance remaining in the funds accumulated under the ~ro~~isions
of (b) of said paragraph 2. If there shall be a default under a~iy of the provisions of this mortgage, re-
sul~ing in a public sale of the premises covered hereby, or if the mortgagee acquires the propert~• other-
wise after default, the mcrtgagee shail apply, at the time of the commencement of such proceedings or at
the time the property is otf~rrwise acquired, the balance then remaining in the funds accurnulateci unciei•
(b) of paragraph 2 preceding as a credit against the amount of princ:pal then remaini?~g unpaid under
said note and shall properly adjust any payments which shall have been made under (a) of said paragraph.
4. That hQ will pay all taxes, ass~ssments, water rates, and otner governmentai or municipa] charges,
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