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Home My WebLink About1800 DQCVO~entar~r st:nps in t?h~ a~wnat o! ~11?.55 493-~5206-2~3 affixed to and canc~lled on original oot~. said mortgagu, dves he~eby fully worrant tbe title to said la4d. and every part thereof. and will defend tl~e same against twe laxiul claims of all persoas w6oosoever. PROVmEU .~LIYAYS. and tbese peesents ara ezecded and delivered upon the following conditions~ to wit: The mortgagor agrees to pay t6e vort~a`ee. ot ade~, tbe p~iacipnl sum of PII~ THq13AAD $IZ H[1NI~8D 1rIFTZ AND I~/100~ - - - - - - - - - - - - - - - - ~ - - - n~~m~ (s 9,6Sp•QO as evideoced by a uote af even date herewitb. witb interest from date at the rate af 1r3re iild thPee-loL~2'th~ pec cedoa ( 5-3~1~ per aanum o~ the uapaid balance until paid. Tbe s~id prinripal sad iatereat shall be phrable at tLe u~ice of J. I. EZ3I.A2C b~!RTGAGS C~PO~iTION OF FTA8I0? lldl Brickell ~i~enone, Igaai, lrlorida a pa~t ~sn~ch Qother `p~lace as/ ~the holder of the aote a~y desi~wte ia wrlting. Aia moathly installmeats of r 1! 1 i ~7~ AAL 1~~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~O1Vn ~ ~ ~ J~ comaiencing on the first day ot BO~avbaR` . 19 aod an tbe Eirst day of eac6 month t6ereaftec u~til the principal aad interesl are tuUy paid. except that the final peyocot of priucipol aad inte~est. if aot sooner paid. shall be due and poyable oa tbe firat day oE Oetober 1996 ; Aad s6a1! duly. promptly. and Eully pedvcm. discbarge. esecnte, effect. complete, and canply with and ebide ~y eaeh and tt~e siipulations, agrec~ais. caadiiioes, sad covenants said pcomissory note and of this mortgage. the.. th:s u?ur:gage aad the estate hereby c~eated shall cease aad be null and void. And the a~oit~agar iurther coveaaats as tollaws: - 1. That he v:•~li ~he indebtedness.as bereinbeEore provided. Pri'vilege is reserved to ps~y the debt in whole, or in an amount ~yu:~i ta u:ie or more monthly payments on the priacipal that are next due on the note, ort the tirst day o[ any month prior to maturity: Pro~ ided. however. that writtea notice of an intention to exercise such privilege is give~ at least thicty (30) days ptior to prepaymeat; and. pcovided furthcr, that i~ the e~~ent the debt is paid in full prior to a~atucit~• and at thst time it is insured uadec tbe provisioos of the Nationa! l~ousing Act, he will pay to the modgagee an adjusted premium charge ot one pet centum (17G) of tbe original principal amuunt thereof, except that in no event shall the adjusted premium exceed tlre aggregate amount of pcemium charges which would have been payable it the mortgage had continued to be insueed natil matarity; such payment to be applied by the moct- gagee upon its obligalion to the Secretary of Noasiag and Urban Development on account oi modgage insurance. 2. That, in order more fully to protecl the security of this mortgage, the modgagor, togeiher with, and in addi- tion to, the monthly payments unde~ the terms of We no~te secured hereby, on the first day of each month until the said note is fully paid, will pay to the moctgagee the Eollowing sums: (a) An amount su[ticient to provide the holder 6ereot with (unds to p~y the nc:t mortgage insuraace premium if lhis instru- ment end the note secured hetebr are insuted, ot a monthly chuge (ia lieu o! o morlgage insurance premium) it they are held by the Secrctasr of Honsing and Urban De~elopment, ~s tollows: j (1) I[ and so loag as said aote of evea date and this instmment arc insured or are rei~sured under the provisions of the Natioasl Nousiag Act, aa amount sufCcieat to occumulate in tse hands ot the holder one (1) month prior to its due date the annual mortgage iusnrance premium, in orde? to provide such ho[der with fuads to pay such premium to the Secretary of Housing and Urban Developmeat pursoant to the Plational Housin~ Act, as ameaded, and applicable Regu- latioaa theeeuader, o~ (II) If aad so long as said note af evea date and this inslrument are held by the Secretar~ ot Housing and Urban Develop- ment, a moathl~ c6arge (in lieu of a mortgage insuronce premium) vhich shall be in an amount equal to one-twelfth , (1/12) o! one-6aU (y4) per centum ot t6e average outstandiag balance due on the note computed without taking iato account delinqueecies or prepapmeats; (b) A sum equat to the groond rents, if any, nezt dne, plus tbe premiums that will nert become due and payable on policies ! of fire and ot6er hasard insurance covering tLe mortg~ged pr~opeAr. plns tazea aad assessme~ts next due on the mort- ( gaged property (all as estimated b~ the mortgagee) less all sums alreadr paid there[or divided by the number o[ months s ; to etapse betore oae month prior to the date wrhen suc6 gxound reots, premiums. ta:es, and assessments will become de- ! linquent, such sums to be held br mortgagee ia ttust to pa~ said ground rents, prcmiums, tazes, aad special assessments; ~ and ~ (c) Alt payments mentioned in lhe tao preceding subsections o[ this paragraph and all payments to be made under the note secured herebp shall be added together and the agg~egate amount t6ereo[ shall be paid by the mortgagor each month in a ~ single payment to be applied br the mortgagee to t6e foLowing ltems ia ffie order set [orth: (n premium charges under the coatract of insatance with the Secretary of Housing and Urban Development, or monthiy ~ charge (in lieu of mortgage iosur~ce premiam), ~s d~e case mar be; _ (II) ~omd rents, ta:es. assessments. fire, aod otber 1wz~rd insarance {~emiums; (IIn interest on the note secured bereb~; and (I~ amortiza4on of the piocip4l of said aote. Any deficieacy in the amount of such aggregate monthly payment shall. unless made good by the mortgagor ~ prior to the due date of the ae~ct sacb paymeat, ~a~stitute an event oE default under this modgage. The mortgagee may collect a"late chacge" Aot to ezceed two cents (2~) Eor each dollar (Sl) of each payment more than fifteen ; (15) days in acreacs to cover tbe eztra espease iavolved in bacdling delinquent payments. ~ 3. That if 1he total of the payineats mede by the oortgagor under (6J of parag~aph 2 pieceding shall esceed ? ~ the amount of payments actnally made by the matgagee, for g~ound rents, tazes and assessments and insurance premiums, as the case may be, snch escess shall be credited by the matgagee oa subsequent payments to be made by the mortgagor. If, ho~ever, the monthly payments made by tbe martgagor under (b) of peragraph 2 pre- ceding shall not be safficient to pey g~ound rents, tases and assessmaats and i~urance premiums, as the case may be; arben .We same shall become doe and peyable, then the matgagor s6a11 pay to the mortgagee any amaint ~ necessary to make up the deficiency. on or beface the date when payment of such g~o~md renta, ta:es, assessments. ~ ~ oc insurance premiums shall be due. If at any time the moctg,ego~ shall teader to the modg,agee ia accordance with ~ the provisiaas of the note secured bereby, full payment of the eMire indebtedness represented thereby, the mort- gagee shall, in computing the amount af snch indebtedness, credit to the account d the mortgagor all payments ~ made under the pravisions of (a) of parag~ap6 2 hereaf w6ich the matgagee hes not become obligeted to payto the Secretary of Housing and Urban Development and any balaace cemaining in the f~nds accumalated under the provisions of (6J oE said paragirap6 2. If there shall be a defanlt andet any d the provisions of this mortg,age, re- salting in a pnblic sale of the premises covered lereby. oc if tbe matgagee acquires the property othecwise aEter default, We matgag~ee shall apply, at tLe tioe of the comoeacemeat ef suc6 proceedingas ar at the time tbe prop- edy is othenrise acquired, tbe balaaee then reoaining ia t6e fuods accumulated under (b) of paragraph 2 preceding as a credit agpinsk the amoant.of pcincipol tben cemauung mpaid onder said note aod shall properlyadjust aay m payments wbich s6all 6ave beea made iwder (a) oE said parag~aph. ~ 4. That 6e will pay aU tases, assessments, water cates, and other governmeatal or mnnicipal charges, fines, or impo~itioas. Eor ~vhich pravision has not been made hereinbefae, snd in default t6ereaf the mortgagee may pay t6e same; aad thst be Will promptiy deliver tbe dficial receipts tberefor to the mortgagee. ~ ~o~ 155 . = 597 . ~ -;k~ ~ =~su, c_ , : „~+r _ _ . i