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Home My WebLink About2464 said mortgago~ doe~ hereby fully warrant the title to~ said land. and every patt thereof. and will defend the same against the lawful claima of all persons whomsceve~. PROVIDED ALWAYS. and these presents are executed and delivered upon the following conditio~s, to wit: ~~~e~mD ~ag~gcees~to~ pa~tl}~~ gagee_ or order_the principal sum of__7EN_1HOUSAI~ID EIG~IT_ FI Y / - Dollars (S 10 ~ 850. 00 as evidenced by a note of even dete hecewith. with interest Erom date at the rate of Five and three-fourths per centum ( 5 3/4 pe~ annum on the unpeid balance uatil p~id. The said principel and interest shall be payable at the office of C~NERAL GUARANTY MORTGAC~ COMPANY, INC., in Winter Park, Florida a at such other place as the holder of the note may designate in ~rriting, in mo~thly installments ot S IXTY- THREE AND 36/ 100- - - - - - - - - - - - - Dollars (S 63 . 36 . coaimencing on the first day of December , 19 66 . and on the first dey of each moath thereafter uatil the principal and iaterest ace fully paid, e:cept that the final payment of principal and interest, if not sooner paid. shall be due and peyable an the first day of November , 1996 : A~d shall duly. promptly, and fully perform. discharge, execute. effect. complete, and comply with and abide by each and every the stipulations, agree~aents. conditions. and coveaants of said pranissory note and of this uwdgage. thea this mortgege a~d the estate hereby created shall cease and be null ead void. Aad the mo~tgagor fu~ther covenaats as follows: 1. That he vv~ll pay the indebtedness. as heceinbefore provided. Pri'vilege is reserved to pey the debt in whole, or in aa amouat equal to one oc mae monthly payments on the principal thet ace next due on the note. on the first day of any moath prior to maturity: Provided, however, that written notice of an intention to execcise such privilege is given at least thidy (30) days pria to prepayment; and, provided fudher, that in the event the debt is paid in full prior to maturity and at that time it is insured nnder the provisioas of the National Housing Act. he will pay to the modgagee aa adjusted premium charge of ane per ce~tum (1%) of the origiaal principal emount thereof, except that in no event shall the adjnsted premium exceed the aggregate amount of premium charges which aould have beea peyable if the matgage had conti~ued to be insured until maturity; such payment to be applied by tae mod- gagee upoa its obligatioa to the Secretary of Housiag and Urban Development on accouat of mortgege insurance. 2. That, ia ocder more fully to protect the security of this moctgage, the mort~agor, together aith, and in addi- tion to, t6e monthly paymeats under the terms of the note secured hereby, o~ the first dey of each month until the ' said aote is fully peid, will pay to the modgsgee the follaaving sums: ~ (a) An amount sufficlent to provide the holder hereof with funds to pay the ne:t mort~age insurance prcmium it this instru- meat aad the note secured hereby are insured, or a moathly chorge (ie lieu oE a mortgage iasur~ace premium) if they ~re held by the Secretarp of Housi~ ~nd Urbon Development. •s follo~rs: (I) It and so loo~ as s~id oote ot even date aad this instrumeat ~re insurcd or are rcinswed under the provisioas ot We Notloaal HousinQ Act. an amount sutCicient to accumul~te in the bands ot the holder oae (1) month prior to its due t date the , amual mortQaQe insur~nce premium, in order to provide such holder wrltL fuads to pay auch ~emium to t6e Secretary of Houslna ~nd Urban Developmrnt pursuaat to the Nation~l Housiaa Act, as ameaded, aad applicable Regu- lations thereunder; or (II) It ~nd so long ~s s~id aote of even date ond thia inst~umeat ore held by the Secrctary of Nousiag ~nd Urban Develop- ment, a monthlr char~e (in lieu of a mortQaQe insur4nce prcmium) which s6a11 be in an amount equal to oae-tweltth (1/12) oi one-halt (~/4) per ceatum ot the average outat~nding balance due on the aote computed without t~lciaQ into ~ accomt delinqueacies or prepapmeots; (b) A sum equ~l to the ~ound reats. it anr, nezt due. plus We prcmiums wat will nezt become due and payable oa policies of tire and otber hasud insurance coverlnQ tbe mortgo~ed property, plus to:es and assessmeats next due on the mort- gaged property (all aa estimated by the mortgagee) less all sums alreadr paid theretor divided br We number o[ months to elapse befose oae mmth prior to We date wrhen such ground reats, premiums. tazea, aad assessments ~vill become de- linquent. sucl~ sums to be held by mortgagee in trust to pay said ground reats, premiums, tases, ~ad special assessments; and (c) All payments mmtiooed in the two preceding subsections of this poragraph and all paymenta to be made under thc note secured herebr shall be added together and the aggFegate amount thercot shall be paid by the mortgagor each month in a 3 single paymeat to be applied by the mortgagee to the follo~ring itema ia the order set forth: ( (n premium charges nnder the coatract ot inaur~nce writh the Secretary of Housiag end Urban Developmeat. or monthly c6arge (in lieu oE mortgage insurance premium), as t6e case moy be; (II) ~ouad rents. ta:es, aasessmeats, tirc, aad other hazard insurance premiuma; (IIn intercst on the note secured herebr; aad (IV) amortis~tlon ot the princlpol of s~id note. Any deficieacy in the amount d such aggregate monthly payment shall, unless made good by the mortgagor ~rior to the due date of the next such payment. constitute an event of default under this mortgege. The modgagee may collect a"late charge" not to exceed two cents (2a) for each dollar (S1) of each payment mae than fifteen (15) days in anears to cover the eatra espense involved in handling delinquent payments. _ ; 3. That if the total of the peyments made by the mortgagor under f6) of paragraph 2 preceding shall exceed the amount of payments actually made by the mortgagee, for grourtd rents, ta:es and assessments and insurance } premiums, as the case may be. sach excess shall be credited by the moctgegee on subsequent payments to be ~ mede by the mortgagor. If, however, the monthly payments made by the matgagor under (6) of paragraph 2 pre- ~ ceding shall not be snfficieat to pey ground rents, taxes and assessments and insaraace premiums, as the case t may be, when the same sball become due and peyable, then the mortgagor shall pay to the modgagee any amount necessary to make up the deficiency, on or befae the date when payment of such ground rents, taxes, assessments, or iasnreace premiums shall be due. If at any time the modgagor shalltender to the mortgagee in accordance with the provisions of the note secured hereby, full payment of the entire indebtedness cepreseated thereby, the mort- ; gagee shall, in computing the amo~wt of such indebtedaess, credit to the account of the mortgagor all payments : made ander the provisions of (a) d paragRaph 2 hereof which the matgagee has not become obligated to pay to ~ the Secretary of Honsing and Urban Development and any balance remaining in the funds accumulated under the provisions of (bJ oE said paregraph 2. If there shell be a defenlt under aay of the provisions of this mortg,ege, re- ~ sulting in a pnblic sale oE the premises covered ~ereby, or if the moctgagee acquires the property othecwise after default, the mortgagee s6a11 apply, at tbe time of the commencement of such proceedings or st t6e time the prop- edy is othe~wise acquired, the balance then remaining in the funds accumuleted under (6) of paragraph 2 preceding as a credit against tbe emount of principel then remaining unpaid under said note and shall properlyadjust eny y paymeats ~vhich shall have been made under (aJ of said paragcaph. ~ 4. That be will pay all taaes, assessments, water cates, and other governmental or municipel charges,'fines, or impositions, for which pravision has not been made hereinbefore, and in defeult the~eof the mortgagee may pay ! the same; and that he will promptly deliver the official receipts therefor to the modgegee. i ~ BOOK 15~ PACE ~ ~ ~ ~ -°r~~ ~ ~ ri~, - - y~"'~ V ~