The URL can be used to link to this page

Home My WebLink About2888 w~.~wss~~r~ ass~pi ui sn~ ~a~vYps vs ~~r.ss .f~~.a to .na ~.~~~.a ~ oriaieui note. PbA~~ 0~~04180r1~2Q3 ~ ` j.'~ s - ~ Psovtpm At.w~YS, and these presenta are executed and delivered upoa the following conditiona~ to wit: - The mort~g~or aareee to psy the mortgagee. or order, the principal aum of DtiV~i ~1qiSA1n mau~anrirrr~~o~oo••••••.._--------..w_~.__..--•---- - Do1l~trs (a li ~6~0.00 ~ aa evidenoed by a note of even dabe herewith, with inbereat irom date at the rate oY Piv~e aaQ t4sN•~oustha per centwn ( 5 3/k 96 ) per annum on the un- paid balant~ uatii paid, The said princ~pal and Inter~t ahall be payable at ~he ot8ce ot J. Z. 1~az/1ic MoR~GAQ/ QoItECl~tl?3Za~t ttri~ rLORmA? 1220 HiscaYnt Ssnl~Yaset. I~tiani~ Fiosida, . or at such other p~ace as the holder oi the note may design~te in writing, in tnonthly inatallmenta oi Si~ctT-eight snd 0~/100 - ~ - - • • - • Dollara 68.0~ commencing on o~i~~~ ~ . 19~ .~nd on the flrat day of each month thereafter until the ful?~y paid, except t the tinal pgyrneat o! pri.ncipal and intere$t, if not sooner paid, ahAll be due And p~rable on the flrst dsy of ~ , 1~; And shall duly, pmmptly, and tally perforni. diacharg~e, eaecute, efiect, oomplete. and comply wlth and abide by es~ch ~nd every the stipalat~ons, agreementa, conditions. and eovenanta ot said pmmissory note and of thu mort~aQe, then this mortgage and the estate her~by created ahall cease and be null and void. And the mort~agor further covenanta aa followa: - l. That he a?ill pey the indebtedneas, as hereinbefore pmvided. Privilege is reserved to xwy the debt in whole. or in an amount equal to one or mo~~e monthly p~yments on the principal that are next due on the note. on the firat da~ of any month prior to maturity : Provided. however, that written notice of an intention to exercise such privilege is given at least thirty (30~ days prior to prepayment; and, prnvided further. that in the event the debt is paid in full prior to maturity and at thAt time it ia inaured under the pmvisions of the National Housing Act. he will pay to the mortgagee an adjusted premium charge of one per centum (l~ib) of the origina! principai amount thereof~ except that in no event shall the adjusted premium exceed the aggregate amount of premium charges which would have been payable if the mort- ~g~e-had continued tc~ be insured until maturity; such payment to be applied by the mortgagee upon its obligation to the Federal Housing Commissioner on acxount of mortgage ~nsurance. 2 That, in order more fully to protect thc security oi this mortgage, the mortgagor. together with~ nnd in addition to, Ehe monthty paymenta under the terms of the note secured hereby. on the ftrst day of e~ch month until the said note is fully paid, will pay to the mortgngee the followit~g sums: (a) An amonnt suftlcient to prnvide the holder hereof wit~ funds to pay the next mortgage inaurance premium if this instrument and the note secured,hereby are Insured~ or a monthly charge (in lieu of a mortgage insurance premium) if they are held by the Federnl Housing Commissioner. as follows : (i) If and ao long as said note of even date and thia inatrnment Are insured or are reinsured undtr the orovisions of the National Housing Act, an amount suftkient to aceumulste in the hands of the holder one (1) morth p~ior to its due dste the annusi mongage insuranoe pre~~uw,~~ ui oau'ca w r,-~ e;::L holder with lunda to p~y auch premium to the Federal Houaing Commissioner pursuant to the National Housing Act, ss amended, And appliuble Re~ulations thereunder; or ([t) If and so long aa aaid note of eren date and this inatrument sre held bjr the Federal Houaing Commis- sioner, a monthly eharge (in lieu oi s mortgsge insurance premium) which shall be in an amount equal to one-twelfth (y~=) of one-half ( if~ j per centum ot the average outatanding batance due on the note eomputed without taking into account delinqueneies or prepayments; (b) A sum equal to the ground rents. if any, next dne. plw the premiums that will next become due and payable on policies of fire snd other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property (all as estimated by the mortgagee) less a1i sums already paid therefor divided by the number of months to elapse before one month prior . to the date when such ground rents, premiums, taxes, and assessments will become delinquent, such sums to be held by mortgagee in trust to gay said gmound rents. premiutns, taxes. and special assess- ments; and • (c) All payments mentioned in ti?e two preceding subsections of this paragraph and all pay- ments to be made under the note secured hereby 8ha11 be acided together an~ the aggrggate amount thereof sha11 be paid by the mortgagor each month' in a single payment to be applied by the mort- gagee tu the following items in the order aet forth: : (1) premium charqea under the contract of insurance wit6 the Fedenl Housing Commiasioner. or morthly charge (in lien of mortgaqe insnrance premium), ss the case msy be; (tt) .gronnd rents, taxes~ xasessments, fire, and other hazard insurance premiums; (tu) interest on the note secured hereby; and (iv) amortiution of the principal of said note. Any deficiency in the amount of such aggregate monthly payment shall. unless made good by the mortgagor prior to the due date of the next such pa~Vment. constitute an event of defautt under this mor~ gage. The mortgagee may culiect a"late charg~e' not to exceed two cents (2~) for each dollar (~1) of esch payment more than fifteen (15) days in arrears to cover the extra expense involved in handling delinquent payments. - 3. That if the total of the payments made by the mortgagor under (b) of paragraph 2 preceding shall exceed the amount of vayments actuaily made by the mortgagee. for p~round rents. taxes and assessments snd maurance preminms, as the case may be. such excess ahall be credited by the mortgagee on subsequent payments to be made by the mortga~or. If, however, the monthly paymenta made by the mortgagoi under (b) of parsgraph 2 preceding ahall not be an~cient to pay~rowid rents~ taxes and aasessmenta and it~surance premiuma, aa the csse may be, when the same ahsll ~eCOme due and payable, then the mortgagor ahall pay to the mortgagee any amount neceaaary to mslce up the deficiency~ on or before the date when paymeat of such ground rents, taxea, ~saeeaments, or insnrance premiums shall be due. If at any time the mortgagor shall tender to the mortQa,~ee in a~ecordance vrith the proviaiona of the note aecured hereby, full payment oi the entire indebtednesa r+epreaented thereby, the mortgagee ahali. ;n com- puting the amount of such indebtedn~sa, cnedit to the aecount of the mortQag~nr idl payments made under the prnviaions of (a) of para,~raph 2 hereof which the mortss~ee haa not beeurne obligated to pay to the Federal Housing Commiasioner and sny balance re~nainin~ in the funda accumulated under the pro~-isiona of (b) oi said paragraph 2. It thei~e shall be a default under any of the proviaiona of thia mortgage. re- suitin~ in a public aale of the pruniaea oovered hereby, or if the mortgagee acquirea the pmpert~ other- wiae after defaulk the mort,~s,gee shall ~pply, at the time of the commencement of auch proceedinga or at the time the pmpertq ia otherwiae acquired, the balance then remainin~ in the funda a~cumulated under (b) of paragraph 2 preceding as a credit a~inst the anoonnt of prmcipai then remaining unpaid under said note and shall pmperly adjust any paymenta which ahall have been made under (a) of sAi~~ragrap~h, 4. That he wiq pay ali taxea, assesamenta, water rates and other g~overnmental or munlci~sl chargea, . ~ . 8~~ i47 ~ 4$g . ~ . _ . , ~ _ ~ - -