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Home My WebLink About0596 t ~ ~ . y,, ~_it s PROVIDED ALWAYS~ and these prese~ts are executed and delivered upon the following conditions~ to ~ wit : ! The mortgagor agrees to pay the mortgagee, or order~ the principal sum of BIi9~I T80II8JIiD q18 ~ ~ADRSDFIFT?and00~100•-•-•----•-••--••-----••-••-•-- ~ Dollars (a 11~1~j0.00 as evidenced by a note of even date herewith~ w•ith intereat from date at the rate of t~i7~ aad thrM-to~rth per centum ( S 3~4 per annum on the un- paid balance until paid. The said principal and interest shall be payable at the oftice of 8't0(~'!'QY, YH??Iai, Di?PIII b COMPA~Y~ 100 Yeat Be~ Btr~~t in Je?oks~~ill~, ?lorids~ ~ ~ or at such other place as the holder of the note may designate ~in writing. in monthly installments of ~ SIII7-FI118 wmd 12 100- - - - - • o - - - ~ollars (a 65.12 commencing on 1 the first day of 0/atob~r , 1966 , and on the first day of each month thereafter until the ? principal and interest are iully paid, except that the final ;~ayment of principal and interest. if not sooner ~ paid~ shall be due and ~vable on the first day of Sspt~ab~r ~ 1996 ; ' And shall duly. promptly, and fully perform. discharge. execute. effect. complete. and comply with and abide by each and every the stipulatians. agreements. c~nditions. and covenants of said promissory note and of this 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 pmvided. 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 da3 a; 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. provided ; further, that in the event the debt is paid in full prior to maturity and at that time it is insured under ; the provisions of the National Housing Act. he will pay to the mortgagee an adjusted premium charge of one per centum (1 ) of the original principal amount thereof. except that 'in no event shall the adjusted y premium exceed the aggregate amount of premium charges which would have been payable if the mort- ~ gage had continued to be insured until maturit~ ; such payment to be applied by the mortgagee upon its ~ obligation to the Federal Housing Commissioner on account of mortgage insurance. ; 2. That. in order more fully to 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 ~ay to the mortgagee the following sums: ~ (a) An amount suft'icient to provide the holder hereof with funds to pay the next mortgage ~ insurance 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 Federal Housing Commisaioner. . ~ as follows : ; (c) If and so long as said note of even date and thia instrument are insured or are reinsured under the pmvisions of the National Housing Act. an amount sutTicient to accumulate in the hands of the holder one (1) month piior to its due date the annual mortgage insurance premium. in order to provide such holder with funds to pay such premium to the Federal Housing Commissioner pursuant to the ;~lational Housing Act~ as amended, and applicable Regulations thereunder; or (tt) If and so long as said note of even date and thia instrument are held bjr the Federal Housing Commis- sioner. a monthly charge (in lieu of a mortgage insurance premium) which shall be in an amount equal to one-twelfth (y~_) of one-half ('.4 ) per eentum of the averaqe outstanding balance due on the note computed without taking into account delinquencies or prepayments; (b) A sum equal to the ground rents. if any, next due. plus the premiums that will next become due and payable on policies of fire and other hazard insurance covering the mortgaged property, plus 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 hetd 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 secured hereby shall be added together and tlie aggregate amount thereof shall be paid by the mor~ga~or each month in a single payment to be applied by the mort- gagee to the following items in the o~der set forth : ' (t) premium charAes under the contract of insurance with the Federal Housing Commi'ssioner, or monthly charge (in lieu of moitgage insnrance premium). as the case TMay be; (tt) ground rents, taxes, assessments, fire. and other hazard insurance prem~ums; _ (nt) interest on the note secured hereby; and s (tv) amortization of the principal of said note. Any deficiency in the amount of such aggregate monthly payment shall, unless made t~ood by the mortgagor prior to the due date of the next such payment, canstitute an event of default under this mort gage. The mortgagee may cullect a"late charge" not to exceed two cents (24) 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 mortgagot under (b) of paragraph 2 preceding shall : exceed the amount of payments actually made by the mortgagee. for Qround rents, taxes and asses.aments and insurance premiums, as the case may be, such excess s~all be credited by the mortgagee on subsequent ; psyments to be made by the mortgagor. If, however, the monthly payments made by the mortgagor ~ under (b) of paragraph 2 preceding ahall not be aufficient to pay gtound rents, taxea and asse.ssmenta ~ and inaurance premiums, as the case may be, when the same ahall become due and payable, then the ~ mortgagor ahall pay to the mortgagee any amount necessary to make vp the deficiency, on or before the ~ date when payment of such ground rents, taxes, assessments, or insurance premiums shall be due. If at any time the mortgagor shall tender to the mortgagee in accordance with the provisions of the note ~ secured hereby, full payment of the entire indebtednesa represented thereby, the mortgagee shall, ~n com- ; ~ puting the amount of such indebtednesa, credit to the account of the mortgagor all payments made under ; ~ the provisiona of (a) of paragraph 2 hereof which the mortgagee hss not become obligated to pay to the ; Federal Housing Commissioner and any balance remaining in t#~e funds accpmulated under the prorisions ' of (b) of said paragraph 2. If thei~e ahall be s default under any of the provisions of this mortgage, re- ~ sulting in a public sale of the premisea covered hereby, or if the mortgagee aoquirea the prnpert~ other- ~ wise after default, the mortgagee shall apply, at the time of the commencement of such proceedmgs or at ~ the time the property ia otherwise acquired, t~?e balance then remaining in the funda accumulated under ; (b) of paragraph 2 preceding.as a credit against the amount of principal then remaining unpaid under ; said note and shall pmperly ad~ust any payments which shall have been made under (a) of said paragraph. - 4. That he will pay all taxea, assessments, water rates, and other governmental or municipal charges~ ~ ~ , i _ ~ A 153 5~ - ~ 600K ~ _ ~ - ~ ~ - - : _ ~ 5~ u ~su~