The URL can be used to link to this page

Home My WebLink About1368 . ~ . said mo~tgago~ doea heroby fully watc~nt the tit(t to said 1aad. and every pad thereof. •nd will deEeod the same E against tl~e lawful tlAims of al! pecsoas whomsoeve~. ~ PROVIOED AL.~AYS. and thcao presents are executed and delivered upon the follo~wing conditions, to pit: The moctgagoi ag~ees to pay the~ mortg~gee, a ader, the ~incipat sum oE , ELEV&V TH(?USAND SIX HUNDRED FIFTY AND NO/100---------------------..-.. Dollars (S 11 ~ 650.00 as evidenced by a ade ot~ evea date herewith. witb iaterest from date at the rate of fiVe & three-quarters per centum ( 5 3/4 Pe~ eaaum oa the unpaid balaace until paid. The sai3 pcincipal and intecest shall be payable at the offtce oE GENERAL GUARANTY MOR1'GAGE CQNFANY, INC., in Winter Park, Florida oc at such other place as the holder o# t~e note may designate in writing, in monthly installments of Sfghty one ~nd 90I100--------------Dollers (S 81.90 commec~cing on ~ the first day Qf Jarluary . 19 67. and on the first day of each moath thereatter uatilthepri~cipal ~ and interest are tully paid~ except that the Einal payment of principal and interest, if not soonec paid, shall be due and payable on che ficsc day of December, 1996 ~ And shall duly. pranptly. a~d fully perform. discharge. execute. effect. complete. and comply ~vith a~ abide by each and every the stipulations, agreea~ents, conditions. and covenants of said p~omissary note and of this mortgage. then this mortgage and the estate hereby created shall cease and be null and void. . Aad the matgegar fucther covcnants as follou?s: 1. That he wil! pay the indebtedness, as bereinbefore provided. Pri'vilege is reserved to pay the debt in whole. ~ or i~ an amount equal to one a mae monthly payments on the principel that are aext due oa the note. oo the [irst day of any month prior to maturity: Provided. however. that written notice of aa iute~tion to exercise such privilege ; is given at least thirty (30) days prior to prepayment; and, provided further, that in the event the debt is peid in j full prior to maturity and at that time it is insured under the provisions of tbe Nationel Housing Act, he will pay to ( the modgagee an adjusted premium charge of one per ce~tum (1%) of the origiaal principal amount theceof. e:cept ~ that in no event shall the adjusted p~emium exceed tE~e aggregate amount of premiuin charges which would have beea payable if the mortgage had continued to be insured until maturity; such payment to be epplied by the mod- ~ gagee upon its obligation to the Secretary of Housing and Urbaa Development oa accoaat of modgage insuraace. 2. That, in order moce Eully to protect the security of this mo~tgage, the mortgagor, together with, and in addi- ~ tion to, the moathly payments undec the terms of the note secured hereby, on the first day oE each month until the ~ i said aote is fully paid, will pay to the mortgagee the fotlowiag sums: ' 1 fa) Au amount sufficieat to pwvide the holder hereof ~rith tunds tQ pay the ae:t mortea~e insursace premium if this instnr ~ mmt and the note sccured hereby are insured, or a monthlr c6~r~e (in lieu ot i mortQage iasurance premium) it they ~re } held by the Secretarr of HoasinQ and llrban Developmeat, as [ollowrs: ! (I) I[ aad so long as said note ot eren date and tbis instrument are iasnred or are reinsured under the pwv3sioas of the ~ National Housing Act, a~ amount sutficient to accumulate in the haads oE the holder one (1) month prior to its due date the annwl mortqage iasurance premium. ia order to provide snc6 hotder with funds to par auc6 premium to the ~ Secretary of Housing aad iJrb~a Developmeat pursuaat to ihe National HousiaQ Act, as amended, ~nd spplicable Regu- latioas the~euadec; or ~ (II) I[ and so tong as said aotc of even date aad t}?ia inswmeut ue beld by the Secretsry of Housing and Urban Develop- ~ ment, a moathlr charge (in lieu of a mortgage insunace pre~ium) which shall be ia an amount equ~l to ooe-twelfth ~ (1/12) oE oae-halE (yi) per ccntum ot the ~vcr~ge outst~uding bataece due oa tbe note computed wit~wut taklag into account deliaqueacFes o: prepa~nnents; ~ (b) A sum eq:ial to the grouad reats, if aor, aezt due. plus the premiums ~Sa! will aezt become due ~nd psyable oa policies ot fire aod other hazard insurance covering the mortga~ed propertr. pius te:es +~nd assessments ne~t due on t}ie mort- ~ gaged praperty (aU as cstimated by the mortgagce) less all sums already paid therctor divided by the number of mont6s to elopse be[ore o~e month prior to the date w6ea suct~ ~round rcnts, premiums, t~ses, ~ad assessmeata will become de- finquent, such sums to be held by mortga~ee in trust to par s~id ground reats, ~remiums, ta:es, and apeciai asseasments• ~ nnd ' i i (c) All payments mentioaed 'w the t~vo preceding subsections of this pangraph and •1l paymenta to be made uader the aote i secwed hereby shall be added together and the •ggfegate amount therrof shal! be paid b~ the mortgagor each month ia a single payment to be ~pplied by tKe mortQagce to the following items in the order set [octh: (n preauum charges under the contract of insurance with the Secretary oE Housing and Urban Developmeat, or monthiy charge (ia lieu of mortga~e insuraace preminm), as the ctse ma~ be- (In grouad rents, tazes, assessmeata, firc, aad ot6et haz~rd iasuraace premiums; (IIn iaterest oa tLe note secared herebr; rnd _ (I1~ amortisaEion of the priacipal of said aota ~ Aay deficiency ia the amount of such aggregate monthly payment shall, unless made good by the matgagor prior to the dne date of the aext suc6 -payment, constitute an ev~nt d default under this modgage. The modgagee ~ may collect a"late chacge" not to eYCeed two ~ents (2~) fa each dollar. (Sl) of each p~yment more than fikeen E (15) days in anears to cover the extra expense involved in handling delinquent payments. f ~ 3. That if the total of the peyments mede by the mortgagqr under (bJ of paragraph 2 preceding shall ex~eed ~ ` the amount of paymeeis actually made by the matgegee, fo~ gcound reats, taxes and assessments and insurance % ~ premiums, as the case aoay be. such e:cess shatl be credited by t6e mortgagee on subsequent payments to be made by the mortgagor. If, however, the monthly payments ciade by the matgagor under (bj of paragraph 2 pre- ceding shall not be sufficieat to pay ground rents, taxes s~d assessmants and iasurance premiums, as the case = may be, ahen the sarae shall become due and peyable, then the mactgagor shall pay to the mortgagee any amount y necessary to make up the deficiency, on or befae the date when payment of such ground reats, taaes, assessments. or insuraace premiwns shall be due. If at any time the mortgagor shall te~er to the modgagee in accordance with the provisioas of the aotp secured hereby. fult peyment of the entire iadebtedness repcesented thereby, tl~ mort- gagee shall. in computing the amonnt of se~ch indebte~ness, credit to the accouat of the matgagor all payments made under the provisions of (a) of paragraph 2 hereof which the matgagee has not becorre obligated to pay to the Secretary of Housing and Urbaa Uevelopmeat and any balance remaining ia the fuads accumulated under the provisions of (6J of said paragraph 2. If there shatl be a default under sny of the pcovisions of this mortgage, re- suiting in a pubtic ~ale of the premises covered ~ereby, or if tbe mortgagee acqaices the property otheiwise after default. the matgagee sha11 apply, at tbe time oE ihe cou~encement of such proceedings a at the time the pcop- edy is othe~arise acquiced, the balence then remaining in the funds accumulated upder (b) of paraqraph 2 precediag as a credit ag,sinst the amouat of principel then remaining unpaid under seid aote aad shall pcc~perlyadjus: aay ; payments whicb s6a11 have been made uader (aJ of said paragcaph. ~ 4. That he will pay all tases, assessments, water rates, and other goveramental or municipal charges, fines, ~ or impo~itioas, fos wbicb pravisivn has not been made hereinbefae, and in default thereaf the modgagee may psy 3 the same; and that he will promptly deliver the official receipts thecefor to the moct~egee. t ~ i . i - a°cwax~~ ~ ~ I . ~ ; ~ ~ ~ - ~ - -r-.... ~ ~ xr .1 . ~ ~ ' ` ~ ~l=` ' ~ ~c~' ~ . ~