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PROVIDED ALWAY3. and these presenta are executed and delivered upon the following conditions, to
«it :
The mortgag+or agrees to pay the mortgagee. or order, the principal aum of ?a l~S~D ~
~li~ ~'I~'1'I aed 00~100- • • - - - • • • - • - - • - - ~ - • • • • • • • • - • ~ -
Dolla~s l0~1y0.00 as evidenced by a note of even date herewith, with interest irom date
at the rate of t`ii~ ~nd thsw-lo~r~ i~r ~n~ ( g 3/4 ) Per ~nnum on the un-
paid batance until paid. The said principal and interest shall be payable at the ot~ce of
BtOCi?qt, Y8~?L~f~ ~T~ ~ C~11t~ 100 Y~at 8y dtrMt 3a Jaa~uaerilli, llorida
or at such other place as the holder of the note may designate in v~riting. in monthly installmenta of
?I~'!?dll~ and 28~100- • - - - - - • - - ~llara (E 59.2A commencing on
the first day of Ootob~r . 19 66 , and on the first day of each month thereafter until the
principal and interest ar~ fuUy paid~ except that the ftnal paym~nt of principal and interest, if not sooner
paid, shall be due and p~?able on the flrat day of S~p~ , 1996 ;
And shall duly. promptly. and fully perform, discharge, execute, effect. complete. and comply with and
abide by each and every the stipulations, agreements. conditions. and covenants of said promissory note
and of thig mortgage, then this mortgage and the estate hereby created shall cease and be null and void.
And the mortgagor further covenants as follows:
1. That he will pay the indebtedness. as hereinbefore provided. Privilege is reserved to pay the
debt in whole. or in an amount equal to one or moi~e monthly payments on the principal that are next due
on the note. on the first day of any month prior to maturity_: Provided, hoW ever~ that writtc~,ti notice of an
intention to exercise such privilege is given at least thirty (30) days prior to prepayment; and, pmvided
further. that in the event the debt is paid in full prior to maturity and at thut time it ~s inaured under
the pmvisiona of the National Housing Act. he will pay to the mortgagee an adjusted premium charge of
one per centum (1 ~,~n ) of the original principal amount thereof. except that in no event shall the adjusLed
premium exceed the aggregate xmount of premium charges which would have been payable if the mort-
gage had continued to Ue insured until maturit~ ; such payment to be applied by the mortgagee upon its
obligation to the Federal Housing Commisaioner on account of mortgage ~nsurance.
2. That. in order more fully tu protect the security of this mortgage. the mortgagor. together with~
and in addition to, the monthly payments under the terms of the note secured hereby. on the first day of
each month until the said note is fully paid. will pay to the mortgagee the following sums:
(a) An amount sufRcient to provide the holder hereof with funds to pay the next mortgage
insurance premium if this insti•ument 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 follo~~ s :
(t) If and so long as said note of even date and thia inrtrument are insured or are rninsured under the
provisions of the National Housing Act, an amount su}Rcient to accumulate in the hands of the holder
one (1) month prior to its due date the annual mortgage inwrance premium. in order to pmvide such
holder with funds to pay such premium to the Federal Housing Commissioner pursuant to the National
HousinQ Act. as smended. and applieable Re~lationa thereunder; or
(u) If and so long as said note of even date and th~s inatrument are held by the Fedeial Housing Commis-
aioner, a monthly charge (in lieu of a mortgage insurance premium) which shall be in an amount
equal to one-twelfth ( y~_) of one-half ( 34 ) per centum of the averaqe outstanding balance due on the
note computed without taking into account delinquenciea or prepayments;
(b) A sum equal to the ground rents. if any, next due, plua the premiums that will next become
due and payable on policies of fire and other hazard insurance covering the mortgaged property; plus
I taxes and assessments next due on the mortgaged property (all as estimated by the mortgagee) less
all 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 pay said ground rents. premiums, taxes, and special assess-
ments; and
~ (c) All payments mentioned in the two preceding subsections of this paragraph and all pay-
ments to be made under the note secu~ed hereby shall be added together and tlie 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 charqes under the contract of insurance with the Federal Housing Commissioner, or monthly
charRe (in lieu of mo~tgage insurance premium), as the casemay be;
(iI) R~vund rents, taxes. assessments. fire~ and other hazard insurance prem~ums;
(ttt) interest on the note~secm~ed hereby; and '
(tv) amortization of the principal of said note.
Any deficiency in the amount of such aggregate monthly pay-ment shall, unless made goai by the
mortgagor prior to the due date of tl~e next such pa~ ment, constitute an event of default under this mort-
gage. The mortgagee may cullect a"late charge" not to exceed tH o cents (2~) for each dollar ($1) of
each 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 actually made by the mortgagee, for Qround rents, taxes and asses.aments
and insurance premiuma. as the case may be, such excess ahall be credited by the mortgagee on subsequent
payments to be made by the mortgagor. If, however, the monthly payments made by the mortga8'or
under (b) of paragraph 2 preceding shall not be auQcient to pay ground rents, taxes snd assessmenta
~ and insurance premiums, as the case may be, when the same ahall become due and payable, then the
~ mortgagor shall pay to the mortgagee any amount necessary to make up the deficiency, on or before the
~ date when payment of such ground rents, taxes, sssessmenta, or inaurance premiums shall be due. If
at any time the mortgagor shall tender to the mortgagee in accordance with the provisions of the note
aecured hereby. full payment of the entire indebtedness represented thereby, the mortgagee shall. ;n com-
puting the amount of such indebtedneaa, credit to the acouunt of the mortgagor all payments made under
the provisiona of (a) of paragraph 2 hereof which the mortgagee has not become obl~gated to pay to the
Federal Housing Commiasioner and any balance remaining in the funds accumulated under the pro~•isions
~ of (b) of said parag~'sph 2. Ii thei~e eh~ll•be a default untler any of ttie provisions o~ this mortgage, re-
aultina in a public sale of the premiaes covered hereby, or if the mortgagee acquirea t??e property other-
wise after default, the morteaSee ahall 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 funda accumulated under
(b) of paragraph 2 precedin as a credit againat the arnount of principal then remaining unpaid under
aaid note and shall properly a~just any payments which shall have been made under (a) of sa~d paragraph.
4. That he will pay all taxes, assessments, water rsttes, and other governmental or municipal charges~
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Yny ~~R--~~.~ x,- - _ - _ - -