The URL can be used to link to this page

Home My WebLink About0181 a s~v saiqv na.~il~a.~~ auU aurx ~li4'Jl'1~C3 i{!C' l-~Cl4Ct1! AIW llc~l~cac~i a~jJasu ~aac avaavn ss.a H . • `!'h~e/~ mortg~^agar Atrreeg ta pay the mo~~xgee~ or oni~r. the princigal sum of $Z~g~ !~II$,~11D ~ VV/lVH~ ~ ~ ~ • • ~ • ~ • w ~ • • • ~ ~ • ~ ~ ~ • ~ • • • ~ ~ • ~ • • ~ • • ~ • Dollars (a 16,004.00 as evidenced b} a note of even date he*~ewith, ~rith interest from datc at lhe rate o~ ~iz per centum ( 6 ) per annum an the un- paid balanc~e unti! paid. The said principal and interest shall be pa~?able ~t the office of J• T• 81'~118N ~G~~ COliP11TY~ I~C., 100 Miraal~ ~li.l~ - 8a:ts 300, Corsl Cab2as, Florida?, or at such other place as the holder of the note msy deQignate in H•riting~ in monthly instailments of l~~Y-S~ et~d 00~100- - - - - • ~ • - - Dollars y6.pp . ) ? commencing on the firsl day of ]io~~ab~r , 19 66 ~ and on the first da~ of each month thereafter until the principal and interest are fully paid. except that the finai pt?yment of principal und interest, if not sooner paid, shatl be due and payable on the first day of potober, 1y96 , ; And shall duly, promptly. and fully perform, discharge, execute. effect, complete, atid comply with and abide by eaeh and every the stipulations, agreements, conditions~ and covenants of said promissory note and of this mortgage, then this mortgage and the estate hereby crrat~ shall cease and be null and void. And the mortgagor further covenants as follow~s; l. That he will pay the indebtedness, as hereinbefore provided. Pri~ ilege is reserved to pap the debt in whole. or in an amount~ equal to orie or moe~e monthly payments on the principal 'hat are next due on the note. on the first day of an~~ month prior ta maturit} : Provided, how•erer, that rittcri notice of an ~~ntention to exercise such pri~•iiege is giv~n at least thirty (30) days Fri ~r 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 provis~~ns of the National Ilousing Act. he wili pay to the mortgagee an adjasted premium charge of c?ne per centum (1;~) of the original principal amaunt thereof. except that in no evei~t shall the adjusted prernium exceed the aggregate amount of premium charges which would ha~•e be~n 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 znsurance, y 2. That. in order more fully to protect thc secnrity of this mortgage. the mortgagor. together with. snd 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 ~~y to the mortgagee the following sums: (a) An amount suf~'icient _to provide the holder hereof «ith funds to pay the next mortgage insurance przmium if this instrument and the note secui-ed hereby are insui•ed. or a monthly charg~e (in iieu of a mortgag~e insurance premium) if they are held by the Federal Housing Commissioner, ~ as follo~~s: + ~ {t) If and so long as said nate of e~ee date and this insttument ure insured or are reinsured under the pro~ isions of the National HousinR Act. nn amount sifficient to aceumulate in the hands of the holder or?e (1) month prior to its due date the annual mortgage insurance premium, in order ta provide such holder v? ith funds to pay such pnemium to the Federal Housing Wmmissioner pursuant to the National Housinq Act, as amended, and applicable Regulations the~~eunder; or (li) If and ao long as said note of e~en date and this instrument are held by the Federal Hou"sing Commis- sioner, a monthly cha~e (in lieu of a mortgage insurance premium) rrhich shaN be in an amount equal to one-twelfth ; S~±) of or.e-half ( 34 ) per centum of the avera~e outstanding balante due on the note computed v?ithout taking into account delinquencies o* 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 ins~arance covei•ing Lhe mortgaged property, plus taxes and assessments next due on the mortgaged umrw~t~ (all as estimated by the mortgagee) less - all sums already paid therefor divided by the number of months ta elapse before one month prior ~ to the date when such ground rents. premiums~ taxes, and assessments wilt become delinquent. such = sums to be held by mortgagee in trust to gay 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 the aggregate amounE thereof shall be paid by the mortgagor each month irs a single payment to be applied by the mort- ; gagee to the following items in the order set forth: (r) premium ~;arRes under the rnnt~-act of insorance with the Federal Housing•Commissioner, or monthly ' charRe (in lieu of mortqage insurance premium), a~ the case may be; . ~ (n) giround rents, taxes, assessments, firn. and otherhazard insuranc~ premiums; (nt) inte~rst on the note secured hereby; and ) amortization of the princil?al of said note. - i Any deficiency in the amount of such aggregate monthly payment shail, unless made good by the - f mortgagor prior to the dae date of tl~e :~ext such payment, constitute an event of default under this mort- ~ gage. The mortgagee may cullect a"late charge" not to exceed t~ o c~nts ( 2~ ) for each doliar ($1) of i 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 i exceed the amount of va~•ments actually made by the mortgagee, for Rround rents, taxes and asses.cments ; and ~nsurance premiums, as the case may be, such excess shalt be credited by the mortgagee on subsequent ` payments to be made by the mortgagor. If, however, the monthly gayments made by the mortgagor r ; under ~(b) of garagraph 2 preceding shalI not be su~cient to pay grouzd renta, taxes and assessments ~ and insurance premiums, as the case may be, when the same shall become due and payable, then the mortgagor shall pay to the mortgagee any amount necessary to make up the deficieney, on or before the ! date when payment of such ground rEnts, taxes, assessments, or inaurance premiums shall be due. If at any time the mortgagor shall tender to the mortgagee in accorda~ce with the provisions of the note secured herebY, full payment of the entire indebtedness; represented thereby, the mortgagee shali, :n com- puting the amount of such indebtedness, credit to the account of the mortgagor all payments made undei• ~ke provisions of (a) of paragraph 2 hereof which the mortgagee has not bec~me obligated to pa~ to the Federal Housing Commisaioner and any balance rem~ining in the funds accumelated under the pro~•isions of (b) af said paragraph 2. If ther~ shall be a default under any of the provisions of th6s mortgage, re- sulting in a public sale of the premises covered hereby, or if the martgagee acquires the propert~ other- wise after default, the mortgagee shall apply, at the time of the commencement of such proceedings or at th~ tine the pmperty is otherwise acquired, the balance then remaining in the funds accumulatecl under (b) of parag?raph 2 precerling as a c:edit against the amount of principal then remaining unpaid under said note and shall properly adjuat any payments which shall have been made under (a) of said paragraph. 4. That he will pay all taxes, assessments, water rates, and other governmental or municipal charges, ~ ~ b0alt 1v0 PAGE ~01 ` - ~'z'~'~ ~ ~ ~ ~~~t ~ : ~ _ ~ ~ - " ~ ~ = ~ =3-` ~ ~ n~~~ x ~ . - Y" ~ ~ ,i~+~'b'~, _ ' ` ~ r v s, > ~ . ~ . ~ v' _ - ~ ~ ~ ~ • " ~ - - _ ~ , ~