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Home My WebLink About0728 . ~ :`t. P~tovtnrsn A~.w~YS. and these presenta are executed and delivered upon the foliowing conditions, to wit : The mortgag~or agrees to paY the mortgagee, or order. the principal sum of •--•---uus ~oos~ snc m~ID ~grc .Qa oo/iooc~.------••------------------------- Dollara (a 9s6S0.00 ~s evidenoed by ~ note of even date herewith. With iAterest fYom date at the rate oi ~io~ and Thsas lo~rtlu per centum ( S 3/4 Jb) Per annum on the un- paid balance until paid. The said principal and interest shall be payable at the o~oe of J. I. IQSI.~ 10~G~ OORPOLTLOIt OF FIAIIDA, ~[ia¦~i, Dsda County, ~lorida or at such other place aa the holder of the note may designate in vrriting. in monthly installments of ••-••---I~IFi?•SI2 and 36/100ths•-•-------•Dollars 56.36 commencing on the flrst day of ~a,gaat , 1f6 , aud on the first dsy of each raonth thereafter until the prineipsl and interest are fuUy paid, except that the Rnal p~ayment of principal and interest, if not sooner paid, shall be due and payable on the firat day of Jnl~ , 1996 ; And ahsil duly, promptly, and fully perform, discharge, execute, effeck complete. and eomply with auid abide by each ~u?d every the stipulations, agreements, conditions, and oovenants of said promissory note suid of thus mort~age. then this mortgage and the estate hereby created shaU cease and be null and void Md the mortgagor further covenants as follows: l. Thst he will psy the indebtedness. as hereinbefore provided. Privilege is r~erved to pa~y the debt in whole, or in an amount equal to one or more monthly payments on the principal that are next due on the note. on the first da~ of any month prior to maturity : Provided. however, that writtcn notice of an intention to exerciae such privitege is given at least thirty (30) days prior to prepayment; and, pmvided further. that in the event the deUt is paid in ful, prior to maturity and at that time it is insured under the provisions of the Nationsl Housing Act, he will pay to the mortgagee an adjusted premium charge of one per centum (1~,6) of the original principal amount thereof. except that in no event shall the adjusted premium exceed the aggregate arnount of premiura charges which would have been payable if the mort- gage had oontinued to be insured until maturit~ ; such p~ayment to be applied by the mortgagee upon its obligation to the Federal Housing Commissioner on a~coount oi mortg~ insurance. 2. That, in order more fully fo protect the security of this mortgage. the mortgagor, together with. and 'u? addition to. the monthly payments under the terma of the note secured hereby, on the first day of each month until the said note is fuUy paid, will pay to the mortgagee the foUowing sums: (a) An amount sufficient to provide the holder hereof with funds to pay the neat mortgag~e insurance premium if this instrument and the note secured hereby are insured, or a monthly eharge (in lieu of a mortgage insurance premium) if they are held by the Federal Housing Commisaioner, as followa : If and so long aa aaid note ot even dste and thia instrument are inaured or are reinsured under the provisiona oi the National Housing Aet, an an+ount s~llkient to ~eeumulate in the hands ot the holder one (1) month prior to its due date the annual mortgag~e insurance prtntium, in order to provide such holder with funds to pay s~uch premium to the Federal Housing Commissioner pursuant to the National Housing Act, as amended, and applicable Re~olstions thereunder; or (tt) If snd so long aa said note oi even dite and this instrnment are heW by the Federal Housing Cotnmis- sioner, a monthly charge (in lieu oi a mortgsg~e insurance pr~nium) whieh shall be in an amount equsl to one-twelfth (~z) of one-hslf ('is ) per centum of the sverage outatanding balance due on the note eomputed without taking into aooount delinqueneies or prepaymei?ts: (b) A sum equal to the ground rents, if anq. next due, plns the premiuma that will next become due and payable on policies of fire and other hazard insurance covering the mortgaged property, plus ta~ces and assessmenta next due on the mortgaged pmperty (all as estimated by the mortgagee) less all sums already paid therefor divided by the number of months to elapae before. one month prior to the date when such ground rents, premiums~ taxes. and as.sessments will become delinquent, such ; sums to be held by mortgagee in trust to pay said ground rents, premiums, taxes, and special assess- ~ ments; and E (c) All pay~ments mentioned in the twa preceding subsections of this paragraph and all paq- ~ ments to be made under the note secured hereby shall be added together and the aggregate amount thereof shall be paid by the mortgagor each month in a single payment to be applied by the mort- ~ gagee to the following items in the order set forth: (t) premium charRea under the contraet of insurance with the Federal Housing Commissioner~ or monthly charge (in lieu of mortgage insurance prer~~um). as 4he case may be; (tt) Rround rents. tues, asaessmenta, fire, and other hazard insntanee premiuma; (ttt) interest on the note aeemed hereby; and (iv) amortization of the principal of said aote. Any deficiency in the amount of such aggregate monthly payment shall. unless made good by the mortgagor pr~or to the due date of thE next such payment, constitute an event of default under this mort- gag~e. The mortgagee may cullect a"late charge" not to exceed two cents (2t) for each dollar (~1) of each payment more than fifteen (15) days in arreats to cover the extra expense invo}ved in handling delinquent payment~ 3. That if the total of the payments made by the mortgagor under (b) of paragraph 2 preceding shall exceed the amount of payments actually made by the mortgagee. for Rround rents. taxes and assessments and uisurance premiwms, as the case may be, such excesa shall be credited by the mortgagee on subsequent payments to be made by the mortgagor. If, however. the monthly payments made by the morteaS~or ander (b) of paragraph 2 preceding shall not be au~cient to psyground rents, taxes and asaesaments ~ and insurance premiuma, aa the case may be, when the aame ahall tiecome due and payable, then the ~ mortgagor shall pay to the mortgag~ee any amount necessary to make up the deficiency~ on or before the ~ date when payment of snch ground renta, tas~. aaseasmenta. or inanrance premiums shall be due. If at any time the mortgagor shall tender to the mort,gagee in aooordance ~rith the provisions of the note ~ secured hereby. full*payment of the entire indebtednesa repreaented thereby, the mortgagee ahall, ;n com- ~ puting the amount bf anch indebtedneas, credit to the account of the mortgagor all payments made under the pmviaiona ot (a) of psragraph 2 hereof wh~ch the mortgagee haa not become obl~gated to pay to the Federal Housing Commiasioner and any balance remainiug in the fuada accumulatxd under the prorisions of (b) of said psragraph 2. If there b~hall be a default nnder sny of the provisiona of this mortgage. re- sulting in s pnblic sale of the premises covered hereby, or if the mortgagee acquires ttie property other- wiae after default, the mortgsgee shall apply, at the time of the commencement of such proceedings or at the time the property is otherwise acquired, the balance then remaining in the funds accumulated under (b) of paragraph 2 precedin aa a credit agaiaat the amount of principal then remaining unpaid under asid note and ahall pmperly a~juat any psymenta which shall have been made under (a) of said paragraph. 4. Thst he will pay all taxea, assessmenta, water rates, and other governmental or municipal charges, - ~ " ' ~ eooK 149 12? ~ . ~ _ a~y ,-+f d _ . ^ ~ ~ 1} s .;gs., ;~e ~ i SY..k `F ~Y•~^ - a: _ •