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Home My WebLink About1349 1 SbltJ ,_a..goi d~~s hcr~by tu11~~ w~.cr:mt the tittc to su?d lond. t~nd every patt tiirirof~ and will detend the same aga~n~. iawtul claims ot ail ~,ecsuns whomscevec. 1 ~;u\'lU4,U a1.NAYS. and tl,esr Fresents are executect and deliveced upoo the following coad~iions. to wit: ~ ~ L~: ,~ortgago~ ag~ees t~ pay the matgagee. ur oidet. the prinripal sum of $j~~ ~j~ ~s • oI11~J11~LiY ~ W/~W~ ~ ~ ~ ~ • ~ ° ~ ~ ~ ~ • • ~ • ~ • ~ ~ ~ w • ~ ~ ~ • ~ • • • Doll:.~: ~S 16~900.00 bs evidenced by a aute oi c;ven date herev?iih, with intetest from date at the ~ate of $~iZ per centum ( 6 q6) per annum on the~ unpaid balame uotil y-.,a3. Tt~e said principal and inleiest shall be payable :~t the office of J. S~i'~i18? I~O~flTGA~Gg QO~~FZ, I~C.: Sa.~tt 3U0 - 100 ~irsclo Mil~. Corsl Gablee, Flor~ida ot dt ~4~b :.ther place as the holdec ~f the note ~oay designato in wciting. in monthty instaltments oE ~ ~TB Ht1BDi$SD ~8 aud 40~I00- - - - - • • •Doltars (S 302.40 _ comumncing on f the f u.t day of ~japy,a,rf . 19 67 , and on the first day of each month thereafter until the pcincipal ~ a~d ia«ie~t ute fully paid, except that the fiaal paymeat of principat and interest, it no1 sooner paid. shall be due and pa~•able on the first day of DeC~eb6r~ 1~ ; ~~nd shall duly. promptly. and :ully pedorm~ dischacge. executa, effect, complete. and comply with and abide by each and e~•ery the stipulations. agreeme~ts. conditions. and covenants of said promissory note and of t6is mortgag~, then this mortgage and the estate hereby created shall cease and be null and void. And the mortgagor fudher covenants as follows: - - ~ 1. That he wiil pay the indebtedness. as hereinbeEore provided. Privilege is reserved to pay the debt in whole. ot in an amount equal to one or more monthly payments on the principal that are next due on ti:e note, on the first day oi any month prior to ~aaturity: Prouided. however, that written notice o[ an intention to exercise such privilege is gicen at least thirty (30) days prior to pcepayment; and. pcovided further, that in the event the debt is paid in i full piior to matuiity and at that time it is insured under the provisions o[ the National Housing Act, he will pay to the mortgagee an adjusted premium charge of one per cen!um (196) of the original principal amout~t thereof. except that in no event shall the adjusted premium exceed the aggregate amount of premium charges which would have been payable if the modgage had continued to be insured until maturity; such payment to be applied by tha mort- gagee upon its obligation to the Secretary of Housing and Urhan De~etopmeat on acc~unt of modgag~ insurance. 2. ?hat. in order more fully to protect the security of this mortgage, the mortgagor, together with. and in addi- tion to, the monthly payments under the terms of the not~ secured hereby. on the first day of each month until the said note is fully paid, will pay to the mortgagee the follaroving sums: (a) An amount sufticieat to provide the holder heteo[ ~vith tunds to par the next mortgage insurance premium i[ this instru- ment and the aote secured hereby are insured, or a monthly Cha~ge (in lieu of a mo~igage insurance premium) it they are held by the Secretary o[_Housing and Urban Development, as foll~~rs: (1) I[ and so long as said aote o[ evea date and this L?strument are iasured w are reinsured under the provisioas of the National Housing Act, an amount sutficient to accumulate in the hynds ot the holder one (1) month prior to its due date the annual mortgage insurance premium. in order to provide such 1?older with [unds to pay such premium to the Secretary of Housing and Urban Devetopment pursu~et to the Natioaal Housing Act, as amended, and applicable Regu- lations thereunder; o~ ~ (II) lf and so tong as• said note o[ even date ead this inst~ument are held by the Secretarp oC Housieg and Urbs~n Develop- ment, a moathly charge (in tieu of a mort~age insuraace ptemiam) *rhicb s6a11 be ia an am~unt equa! to une-tweltth (1/12) ot oae-half (yi) per centum o[ tbe average outstaading bolance due on the note computed ~vithout taking into account deliaqueacies or prepoyments; (6) A sum equal to the gmuad crats, iE any, aezt due, plus the premiams tbrt will nest become due at~d payable on policies oE t'ue a~d other hazard insuraace cove~ing the mortgaged propertr. plus tazes and asseasmeats nezt due on the mort- gaged property (all as estimated by the mortgagee) less aU sums aireadp paid therefor divided by the number ot months to elapse before one mooth prior to the date when such ground renta, premiums, tazes, and assessments will become de- linquent, such sums to be Aeld by mo~tgagee in tcust to par said ground reats, premiums, taxes, and special assessmeats; and - !eJ All payments mentioned ia the two preceding subsections of this paragtap6 and all payments to be made uqder the note secwed hereby shall be added together and the aggFegate amount Wereof shall be paid by the mortgagor each month ia a single.payment to be applied by We mortgagee to the tollo~ving iteees in We order set forth: premium cl~erges uncier the coatract of insuraace with the Seccetary ot Heusing and U~ban Development, or monthly charge (in licw of mortgage insueance premium), as the case may be; (II) ground rcnts, tazes, assessmeats, fire, and ot6er hazard insuraoce premiums; (IIl) interest on the note secured 6ereby; and _ . ~ (I~ amortization of the principol oE said note. Any deficiency in the amount of such aggiegate monthly pay~eat shall, unless made good by ihe mortgagor prior to the due date of the next such payment, constitute an event d default uader t6is mortgage. The mortgagee may collect a"late charg,e" not to exceed two cents (2~) foc eac6 dollar (S1) of esch payment more than fifteen (15) days in arreacs to cover the extra e:pe~se i~volved ia handling detinquent payments. 3. That if the total of the payments made by the modgagor ander (bJ of paragraph 2 preceding shalt exceeu ~ the amount of payments actuatty made by the mortgagee, for gRau~d rents, taxes and assessments and insurance premiu~s, as the case may be, such excess shal! be credited by tbe mortgagee on subsequenl payments to be made by the mortgagor. If, hawever, the monthly payments made by the morigagor under (bj of paragraph 2 pre- ceding shall not be snfficient to pay ground rents, taxes and assessmants and insurance premiums, as the case may be, when the same shall become due and pa:yable, thea the mo~tgagor shall pay ;o the modgagee any amount ~ necessar}~ to a~ake ap the deficiency, on or befcxe the date when payment of such ground rents, taxes, assessments, or insurance premiums shall be due, If at any time the mortgagor sh311tender to the r,iortgagee in accordance vrith ~ the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the mort- gagee s6a11, in computiag the amount of suc6 indebtedness, credit to the accou~t of the mortgagor all payments ; made under the prwisions of (a) of paragraph 2 hereof which the mortgagee has not become obligated to pay to ~ the Secretary of Nousing and Urban 'Development and any balance remaining in the funds accumulated under the provisi:,rs of (6J of said paragraph 2. IE there shall be a default under any of the provisioas of this moctgage, re= sulting in a public sale of the premises covezed ~ereby, oc if the mortgagee acquires the property otherarise after default, the mortgagee shall appty, at the time of the cammencement of such proceedings or at the time the prop- erty is otherwise acqu"ued, the balance then remaining in tbe funds accumulated undet (6) of paragraph 2 preceding as a credit ageinst the amouat~ of principal then remaining unpaid nnder said note and shall properly adjust sny payments which shall have been made under (a) of said paragrapb. 4. That he will pay all ta:es, assessments, water rates, and other govern.:.eata! or municipal charges, fines, or impositions. for which pravisirn has not been made hereiabefore, and in default thereof the mortgagee may pay the same; and that ne will promptly deliver the official receipts Eherefor to the mortgagee. _ _ aoox 160 ~i~ ~49 ~ 4 : - . ~ g ~ ~ ~ Y ~ ~ ~ ~ " ~ ` s~a c ~ ~ ~ _ ~ . eL