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Home My WebLink About0142 t i ~ • ~ . ' , ~ said ~aatgaga dc?es here~y fui~y war~aat the title to said la~d, and every p:.d theceof~ Aad will J~tend the sacoe ~ against tt~e law[ul claims af all pe~sons ~rhumsoever, ~ c PROVIDED AL.WAYS. and these presents are executed and deliveced upon the Eoll~x+ing condltions. to ~rit: " The a?ottgagw agrees to pay the matgagee~ or order. tha Rrinc~pal sum of ~ A~INF TH9 U'!~ND SIX H(!N'JRF~,J FTFTY ~~n n 1 - # [~allars (S ~ib~j~.00 aa ev_~enced'by a nde'ai ~L~~~a~Tierewi~ w~~~t~~~rt~a~ra~ea~rn?e rste of ffve ~ thre@ rter~ Pe~ centum ( 5 3~~ ~X.) per annum ua th~ unpaid batance uatil paid. TlM said princlpal an'~ inEe~csE s all be payable at the offlce GEPIERAL GUARAA~TY ;•;ORTGAGE COh~AN~, INC.~ in ~?ii;.ter Park, K2orida t oc at such other place as the hotder of the note may designate in writing, in ~aonthly installments of FYfty six and 36~140------ --~-Dollars (S 56.36 commeacing oe i the ficst day of Deeem er • 19 66 artd on tl~e first day oE each month thsceafter uatilthapiineipal ' and intecest are fully paid. except that !he final payment of principal and Interest, if not sooner peid. shall be due ~ and paya~le a~ the fitst day of November, 1996 ' ` And shatl duly, praaptly. and fully pecform, dischacge. execute. effect. complete. aed comply with and abide i by each aad every the stipulstions. agreemeats, conditio~s, and covenants of said pcaolssory nate and of this ~ mortgage~ then this moicgage and the estate hereby created sha11 cease and be nn;l a~ void. ~ And the mortgaga further covenants as follows: ~ 1. That he will pay the indebtedrtess. as hereinbefore provided. Priirilege is reserved to pay the debt in whole. E or in an amount equa: to one a more monthly payments on the principal that are aext due on the note. o~ the first day of any month prior to maturity: P~ovided, however. that written notice of an intention to execcisr. euch privilege is givea at least thirty (30) days prior to Pcepayment; and. pravided fudher. that in the event the debt is paid in ful! prior to matnrity aad at that time it is insured under the provisions of the Natioaal Housirtg Act. he will pay to the moctgagee an adjusted premium cha~ge of one per centum (19b) of the original principal amount thereof. except ~ that in no event shall the adjusted premium exceed the aggregate amouat of premium charges which would have been payable if the wortgage had continued to be insured until maturity; such payment to be applie~! by the mort- s gagee upon its ohligation to the Secretary of Housing and Urban Development on account of mortgage insurance. ~ 2. That, in order more fully to p~otect the security of t6is mortgage, 1ne mortgagor. together with~ and in addi- s. tion to. the monthly payments under the terms of the note secured hereby. on the first day of each aronth until the ~ said note is fully paid, will pay to ihe mortgagee the following sums: if (oJ An amount sutYicient to provide the holder 4ereof with [u~ds to par tlee ne:t martgage ias~uance pcemium it this instnr ! ment aadthe note secured hereby are insured, or a monthly charge (in lieu of a mortgage insurance premium) if they ore ' 6eld by the Secretary of Housiag and Urban Development, as follo~rs; ~ (i) I[ and so long as said aote o[ even, date and this instnimeat arc insured es ~rc reinsured under the pro~laioas o[ the ~ National Housing Act, an amount sutCicient to accumulate in the hands of the holder one (1) moath prior to its due • date ~he annual mortgage insnrance premium. in order to provide such holder wffh funds to pay sucl~ ~xemium to tde Secretary ot Housing and Ilrbaa Deveiopmeat pursuont to ihe National Housing Act, ss amended, and applicable Re~~- i lations thereunder; or (I~ If and so long as said note of even date and this instrument are held by the Se~:retary of Housing aad Urban Derelop- ` ment. • moathly charge (in lieu ot • mortgage i~sucance ptaaiam) which shali be ia an amount equal to one-t~velfth (1/12) o[ one-half (y4) per ceatum of the avera~e outstanding baiance due 6n the aote computcd without takiag into accouat delinquencies or ptepaymaNs; ~b~ a sum equal to the gro~d ~eats, if aay, aext due, plus the premiums that wi11 next become due a~d abie on ~ pay poticies ; of ('ire and other haaard insuraace covering the mortgaged property. plus ta:es and assessments aext due on the mort- gaged property (aU as eatima!ed by We mortgagee) tess a!1 sums already paid theretor divided by the numbe~ of moaWs i to elapse be[oc; oae mooth prior to the date when such grouad rents. premiums, tazea, and assessments wil! become de- ' linquent, such sums to be hold br mortga¢ee in trust to pay said ground renta, premiums, tazes. aad special assessments; and - (eJ Ai! payments mentioaed in the t~vo preceding subsections of thia paragraph and ail payments lo be made under the aote secured hereby shall bG added !~gether and the aggregate amount theceof shalt bt paid by the mortgagor each month ie a sing2e paymerit to be applied by tht mortgagee to the toilowing items in the order set torth~ (n Premium charges under the contract of insurancr with the Sccretary ot Housing and Urban Development, or monthly charge (in lieu ot mortgage insurance preenium), as the case may be; (In ground reats, ta:es, asstssmeats, firc, and other hazard insurance premiums; (IIn intersst on the note secured hereb~; aad (Ih amortiz~tion of the principol of said note. Any deficiency in the amount of such aggregate monthly payment shall. unless made good by the mortgagor prior to the due date of the next such payment, canstitute an event of default under this mortgage. The modgagee maS collect a"late charge;' not to exceed two cents (2~) for each dotlar (S1) of each payment more than fifteen : (IS) days in arrears to cover the extra expense involved =rt handling dPlinquent payments. - , 3. That if the total of the payments made by the modgagor under (b) oE paragcaph 2 preceding shall ex~eed the amount of payments a~tually made by the mortgagee, for ground"rents, taxes and assessments and insurance premiums, as the case may be, such excess shall be credited by the mortgagee on subsequent payments to be ~ made by the mortgagor. If, however. the monthly payments made by the matgagor u~uler (6J of paragraph 2 pre- . cediag shall not be sufficient to pay ground rents, taxes and assessm.~~ts and insurance premiums. as the case may be, when the sa~e shalt becane due aad peyable, then the mortgagor shsll pay to the mortgagee any amount neceSsary to make up the deficiency, oa or befoce the date when paymeat of such ground rents, taxes, assessments, or insurance premiums shall be due. If at any time the modgagor shall tender to the mortgagee in acCOtdance with the provisions of the note secured hereby, full payment of the entire indebtedness repcesented thereby, the mod- gagee shall, in computing the amount of such indebiedness, credit to the account of the morigagor all payments madE under the provisions of (a) of paragreph 2 hereof arhich the mortgagee has not beco~e obligated to pay to the Secretaty of Housing and Urban Development and any balance remaining in the funds accumulated u~?der the provisions of (6) of said paragraph 2. If the:e shall be a default under any of the provisions of this matgage, re- sulting in a public saIe of the premises cavered ~ereby, or if ihe mortgegee acqnires the property otherwise after default, the matgagee stiall apply~ at the time of the commencement of such proceedings ~r at the time the prop- erty is otherwise acqnired,the baiance then remaining in the funds accumulated under (6J of parag~aph 2 preceding as a credit against the a~ouat of principel then remaining unpaid under said note aad shall QropPrlyadjust any payments which shall have been made under (aJ oE said pacagraph. 4. That he will pay all taxes, assessments, ~-ster rates, and other governmenta! or muaicipal charges, fines, or impositions. for which pcrn~ision has not been made hereinbefae, and in default thereof the mortgagee may pay ~ the same; and that he will promptly deliver the ofEicial receipts thetefor to the mortgagee. ~ BOGK1c~IS PAGE ` ~ ~ - ~ , _ = ~ z ~ m - > ~-a - . .L ~ -3 A , - z _ ~