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said mortgagor does hereby fully wecrant the title to said land, and every part thereot~ and will defend the same
against the lawful claims of all persons whomsoever.
PROVIDED ALVYAYS. and these presents are executed aad delivered upon the following conditions, to wit•
The matge~ go~~~ a~ grees to~a the ma~t~ga~gee. a arder, the pri~cipal sum af .
ELEVEiJ THOUSAND F~FTY AND NO/100---------------------------------------
Doilars (S 11 ~050.00 as evidenced by a note of even date herewith, with interest from date at the
rate of ,.___~.._$j,x~__..___~______.. per centum ( 6 96) per annum on the unpaid balance
until paid. The seid principal and interest shall be payable at the ofEice of
GENER,AL GUARANTY MORT~GAGE f~?~iPANY, INC. , in Winter Park, Florida
or at such other place as the holder of the t?ote may designate in writing, in monthly instatlments of
Sixty six a?Ild 30/100---------------~Dollars (S fi6.30 commeacing on
the fi~st day of ApI].1 , 19 67~ and on the first day of each month thereafter untiltheprincipat
and interest nre fully paid~ except that the final payment of principal and interest, if not sooner paid, shall be due
and payable on the first dey of March, 1997 ;
And shall duly, promptly, and fully pedorm, discharge, execute. effect. complete. and comply with anci abide
by esch aad evecy the stipulations~ agreements, conditions. and covenants of said promissory note and oi this
mortgage. then this morigage and the estate hereby created shall cease and be null and rroid..
And the matgagor further covenants as follows;
1. That he w~ll pay the indebtedness. as hereinbefore provided, Privilege is reserved to pay the debt in whole,
or in art amount equal !o one or more monthly payments on the principal that are next due on the note, on the first
da~• ot ;~ny month priar to maturity: Pr.,~~ided, howevec. that written notice of an intention to exercise such priv79ege
is given <tt least thirty (30) days prior to p:epa~•ment; and, provided further, that in the event the debt is paid in
:ull prior to r.~aturity and at that time it is insured under the provisians of the National Housing Act, he will pay to
the cr:vrtgagee aa adjusted premium charge of one per centum (146) of the original principal amount thereof, except
tha! in no event shall the adjusted premium exceed the aggregate amount of premiurt: charges which wouid have
beel pal~able if the mortgage had continued to be insured until maturity; such payment to be applied by the mort-
gagee upon its obligation to the Secretary of Housing and Urban Devetopment on account of mo~tgage insurance.
2. That, in order more fully to protect the secarity of this mortgage, the mortgagor, together with, and in addi-
tion to, the monthly payments under the terms of the note secured heteby, on the first day of each manth until the
said note is fully paid, vvill pay to the moctgagee the following sums:
(vJ An amount sufticient to provide the holder hereot with funds to pay the ~ext mortgage insurance premium i[ this instru-
ment and the note secured hereby are insured, or a monthly charge (in lieq of e mortgage insurance premium) if they are
held by the Secretary ot Housiag aad Urbao Development, as follows:
(I) It and so long as said note of even date and this instrument are insured or are reinsured under the provisions of the
Nationat Housing Act, an amount su[Ccieot to accumulate in the handa ot the holder one (1) month prior to its due
date the annual mortgage insurance prcmium, in order to provide such holder with funds to pay suchpremium to the
Secretary o[ Housing and Urban Development pursuant to the Nationol Housing Act, as amended, and applicable Regu-
latioes thereuader; or ,
(II) If and so long aa said note oE even date and this inatrument are held by the Secretary of Housing and Urban Develop-
ment. a monthly charge (in tieu oi a mortgage utsutance prcmiam) which ehall be in an amount equal to one-twetfth
(1/12) of one-hal[ (y4) per centum o[ the pverage outataading balance due oa the note computed without taking into
accouat delinquenciea or prepaymenta;
(6) A sum equat to the ground rents. if any, ne:t due. pius tl~e premiums thwi will ~ezt become due and payable on policies
of fue and other hazard insuraace covering the mortgoged property, plus tazes and assessme~ts aext due on the mort-
gaged pmperty (aU as estimated br the mortgagee) lesa ell aums already paid there[or divided by the number of mouths
to elapse before one moeth prior to the date when such ground rents, premiums, ta:es, and osaessments will become de-
linqueat, such sums to be held by mortgagee in trust to poy said ground rents, premiums, ta:es, and special asseasments-
and ~
(cJ AlI payments mentioned In the two preceding subsections of this pangraph and all payments to be made under the note
secured hereby shall be added together and the agg~egate amouat thereoE shall be paid by the mortgagor each month ia a
single payment to be applied by the mortgagee to the fotio~ring items in the order set forW:
(n premium charges uader the contract of insurauce with the Secretary ot HousinQ and Urban Development, or monthly
charge (in lieu of mortgage insurance premium), as the case may be;
(II} ground reats, taxes, assessments, fire, aad other hazard insuraace premiums;
(III) Interest on the aote secured hercby; and
(IV) amortisation of the principal ot said aote.
Any deficiency in the amoant of such aggregate modthly payment sha12, unless made good by the mo~tgagor
prior to the due dete of the nexi sach peyment, constitute an event af default nnder this mortgage. The mortgagee
may collect a"late charge" not to e:ceed tao cents (2`) fa each dollar (Sl) of each payment more than fifteen
(IS) days in enears to cover the extca expease involved in handling delinquent payments.
3. That if the total of the gayments a~de by the mortgagor un~er (6) of paragraph 2 pceceding shall exceed
the amount of,payments actually made by the mortgegee, for ground rents, taxes and assessments and insurance
premiums, as the case may 6e, such excess shall be credited by the mortgagee on subs~quent payments to be
mede by the modgagor. If, however, the monthly payments made by the mortgagor undec (b) of paragraph 2 pre-
ceding shall not be sufficient to pey ground re~ts~ ta:es and assessmants end insurance premiums, as the case
may be, when the same shall become due and payable, then the moctgagor shalt pey to the mortgagee any amount
necessary to make up the deficiency, on or befae the date whea payment of such ground rents, taxes. assessments,
or insurance premiums shall be due. If at any tinie the mortgagor shall tender to the mortgagee in accordance with
the provisioas of the note secuced heteby, full peyment of the entire indebtedness represented thereby, the mott-
gagee shall, in canpnting the amount of such indebtedness, credit to the account of tbe moctgagor ell payraents
made under the pravisia~s of (uJ of parsgRaQ6 Z hereaE w6ich the moctgagee has aot become obligated to pay tv
the Secretary of Nousing and Ucbaa Development and any balance remaiaing in the funds accumulated under the
pmvisions of (6J of said paregraph 2. If there shell be a default under any of the provisions of this matgage, re-
sulting in a public. sale of the premises covered iereby. oc if the matgagee acquires the propecty otherwise after
default, the moctgagee shell apply, at the time of~the commencemeat~of such proceedings or at the tia~e the prop-
edy is othecaise~cqnired, the balance then cemaining ia the funds accumuleted under (b) of paragrepb 2 preceding
as a credit ageinst !he amouai of principel then remaining unpaid under said note and shall properlyadjust any
paymenta which shall have been made under (a) of said paragraph.
4. That he will pay all taxes, assessments, water cates, and other governmental or municipal charges, fines.
or impo~itims. fa ~vhic6 pcovisian has not been made hereiabefore, ead in defauit thereof the modgagee may pay
the same; and that he will promptly deliver the officia! receipts therefor to the mottgagee.
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