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Home My WebLink About1384 J?t~~~1 ~ Pxovmsu At.wAYS. aAd these presents are e~cecuted u?d delivered upon the iollowin~ oonditiona, to wit: T~?e mort,~~r a~rees tu p~y the m4rt~ee, ar or2er~ the prin~cipal aum ot ~i Nina Thousand ~Hundred Fif~y a d no/~00 9,Z50.00 as evidenoe~d by x note oi even d~te ~erew~ . wit6 ietereet irom date at the rate oi ~ g~ a~¢ ona ha1f ~ 96 ) per annum on the nn- pnid bslAtioe until.~d. The said princigal and inter~at ahaII be payable~ the o8foe of Horth As~rican Nort~aga Corposatioa - ~ ' PO Box 12349 Bt Pet r bur , Flo ida or at auch other place aa t~e ho~der o~t~ie no~e ~r c~esign~be in ~vritin~, in nwnthiy itiatsUmeats of ; Fifty, T~o~ad 54/100 DO~ 52.54 e~o~rtmencing on the flrat d~? oi August . 28 66,. aad on the flrst da~? o! e#ch month there~fter until the p~incip~l ~nd Interest are p,~id. ezoevt .t,hat the l~wl p~t oi priacipa~l and inte~rest, ii not aooner paid. a~ull be dne and p~ya~ble on the flrat d~,y of Jul ' 1996 ~ . : And ahaD dulY. . and fnl~jr Pei'I'orai, dtsch~e, execute, et[ect, caaplete. and con~ply with and ~ by e~ch ~d every e atipul:~tiona. agreementa. conditions, and covensnts o! aaid promisaory nota o~ this mort,~~ thFn t.~ia.t~,rt~e and the eatate hereby created sh~lt ceaae and be nuU and v~o~d. And the taort~~or fwttter oovenanta ~a~follo~~az'. " _ . . . ~ . . ~ _ . . . 1. Thst he wfil p~y the indebtedneaa, as Mrieinbefore pmvided. Privlteg~e is reaer~?ad to p~,y tht debt in vvhole. or in an amount equal to one or more monthly p~y~nents on the principal that are next due on the note, on the ftrat dAy~ of any month prior to maturity : Provided~ however. that written notice of an intention to exercise such privilege is given at least t8irty (30) deye prior to pre~yment; snd, pmvided further. that in the evebt the debt us paid in full prior to matwity and at that tune it ia insw~ed under the provisiona af the Natloru~l Housing Act, he will psy to the mortga~ee an adjusted premiwn charge of one per oentum (i i6) oi the original principal amonat thenwi. ezcept that in no event shaU the adjusted premiam exceed the ~re t~ ama:nt of premiutn chsrges which would hsve been pe~yable if the mort- sa~e hsd continued toa be in~aured nntit maturity; auch payment to be applied by the mortgagee upon its obligation to the Federal Hous:.~g Commisaioner on a~ooount oi mortgag~s iasurance. 2. That, in order more fW~y to prot,~ct the aecurity af this mortaaae; tha.mortgagor, together wit6 aud in ~ddition to. the monthly pa~menta nnder the terms of the note aecured hereby, on the flrat day o~ e~ch aanth unt~ the said note ia fully paid. will pay to the mort~agee the ~oUowing sums- (a) An amount suflic~ent tb provide the hotde~f henwf with fnnda to p~sy the next mortgag~e inaurance premium if thia instrument and the note aece~red hereby are insured, or a monthly charg~e (in lieu of a mortgag~e insursnce premium) if they are held by the Federal Honaing Commisaioner. aa follows : ~ (t) Ii and so loTa o ssid note oi evcn date nnd this instrument sre inwred or sre reinsured under the pruvisiona ot the Nstional Houaing Aet, an amouat i~t to aoeamnl~te in the hsnds of the holder one (1) montl~ prior to i4 due date tLe aanual aw~~ insutanoe premiwq. in order to provide such holder with funda to p:y such premium to the Fedenl Honsing Commissioner pu ut to the National Howing Act, as amended, atid applicable~~ lstions therennder; or (u) If and su long as aaid ~te oi evea dste and t13s instrument an held by the Federal So~aing Commis- sioner. s monthly chs (in Uev ot a aiortgage iawranos pre~»i~) which shall be in an snwnnt equal to one-twelith of onthvi (~lle ) per cEntum of the averag+e outstanding balance due on the note eompatal witiaut taking into aooonnt ddinqueneies or prepsymeenb; - (b) A sum equal to the ground rente. it anq. neat dae, plus the premiuma that will next become due and payable an policies of fir+e and other hazard insurant~e aovering the mortgaged property. plus taxes and asaessments nt~act due on the mortgaged property (sll as estimated by the mortgagee) less all sums slready paid therefor divided by the number of montha to etapse before one month prior to the date when such ground rents, premiuma~ taxes, and ass~ssments will become delinquent, such aums to be held by mort~a,g~ee in trust to pay aaid ground renta, premiums, taxes, and special assess- menta; aad (c) AU payments mentioned in the two preceding subeections of thia paragraph and all pay- menta to be made ut~der the note aecured hereby shall be added together and the aggregate amonnt thereof shall be paid by the rportgagror each month in a single gayment to be applied by the mort gagee to the following items in the order set forth : (t) premium eharqes under the eontract ot insurs~nce with the Federal Housing Commiasioner~ ot monthly charge (in lien ot mortgage insurance premium), ss the caae maq be:. (u) ~round reeia. taues, assessmenta, fln, and other hasard insurance premiums; (tti interest on the note secu~~ed hereby; and (tv amortisation of the prineipsi of ssid note. Any deficiency in the amount of snch aggtegate monthly ~ayment shall, unless made good bq the mortga~or prior to the due date of the riext such paiyment, oonat~tute an event of default under this mor~ gage. The mortgagee naay cullect a"late charg~e' not to excced two cents (2~) for each dollar (a1) of each payment more than fifteen (15) daya in arrears to cover the extra expense iavolved in handlirig delinquent payments. 3. That if the total of the payments made by themortgagor under (b) of paragraph 2 preceding shall exceEd the amount of vsyments actually made by the mortgagee, for Rround rents. taxea snd assesRments- sad maurauoe premiums, aa the caae msy be, ~uch exc.eas ahsll be credited by the mortgagee on subsequent . psyinenta to be made by the inortgaQor. If~ ~however, the monthly paymeats mAde by the mortgag~or aader (b) of p~raQraph 2 precedin~ ahsU not be aufficieat to pa~~y~mun d reats~ taxea and aasessments wd in~urance premiuma, aa the caae may be, when the s~me slhall beoome due and papsble, then the mortgagor ahaU pa~y to the mortga~ee any aa~ouat necessary to make np tbe deficiency~ on or before the date when payment of such ground renta, tazes, aseesuneats~ or inanrance premiuma ahall be due. If at any tirne the mortQagor ahsU teuder to the mortgaQee in accordance w?ith the pmyisions of the note secured hereby, full payment oi the entire indebtedness repr~ented thereby, the mortgagee ahall, ;n com- puting the amount oi such indebtedneas,~ credit to the acoonnt of the mortgsg~or sU pa~?menta made under the proviaiona of (a) of psrst~nph 2 hereoi which the mort~ag~ baa not become obligated to pay to the Federal Hooain,a Commis~ionrr snd st~y bslance remainin~ ui t~ie iunda accwnulsted under the prorisions of ( b) of aaid paraQrsp6 2. Ii there ahall be a defanlt nnder aay oi the pmvisiona of this mortgage. re- ault~ in a publie asle oi the premiaes covered hereby, or if the mortgagee acquires t~ie property other- wise sft,er default, the aartg~ee shaU apply, st the time of the oummencement of auch proceedinga or at the time the property ia otherwise acquir~, the balance then remsining in the funds accumulated under (b) of psra~rsph 2 precedin~ as a credit a~ainaf~ the ~trnount of prlncipsl then remaining unpaid under said note ~nd shsll properly ad~~ust any paymenta which sha11 have been made under (a) o! aaid paragraph. 4- 1lut he will pa?Y aU taxea? aaaeaainenta, water rat~es, and other governmental or municipal chargea~ ~ R ~ f ~ ~ ~ ~~~150 18~ -.F " v' - . . _ . . ' ~~~~~~~d ~ ~yt~.:Y: ~ y.~~ . _ . . _ _ . . . _ . . . . ~ ~r , ~ m;, ~ ~.,w ~ ~ 4 u ~ _