The URL can be used to link to this page

Home My WebLink About2787 . • ~ `1'i ' ! ' . said moctgago~ does hereby fully warrant the title to seld land. aad every part thereoE, and will defend the s~me against !he lawful claims of all persons whomsoeve~. PROVIDED ALWAYS. and tbese prtsents are executed and deUveced upcm the follawlag coaditions, to wit: Tt?e mo~ce.ga e~~ :o ~y tt~ ~«c~g~, o~ order~ tbe prtncipal suea of , !'9URTfiEN 1~IOUSAND FIVS HUNDRfiD AND NO/100---------------------------- Dollars (S 14 ~ 500. 00 as evldenced by a note of evea date herewitb. with iaterest from date at the ra~te of --------Six--------------- P~r ceatms (----6..~'ri) Per ~nmue eo the uapeid bplonce uatil paid. The said principel and i~tereat shall be payable et the office ot GENERAi. GUARANTY M081~GAGB G~lPANY, INC. , in Winter Park, Florida a at sach other place as the holder of the note may designate in writiag~ in ~oathly instollmeats ot Eighty seven and No/100----------~~~~ (s 87.00 commeacing oa the first day ~ Ap ril , 19(i7 , snd on the first day oE each montli t6ereafter nntiltheprlncipel and intecest ace fu~ly paid, except that the Eiaal paymeat of principal and interest, if aot sooaer paid, shall be due and payable oa the first day ~ March, 1997 : ~ And shall duly, promptly. and fully pedocm, discharge, execute, effcct, complete. a~ comply ~rlth aad abide by each and every the stipulatioas, agreemeats. conditio~s~ and covenants of said pcomissory note and of this mortgage, thea this mortgage aad the estate hereby created shall ce~se and be null and vold. And the matgagoc further covenants as follows: 1. That he ~vill pay the indebtedness. as hereinbefore provided. Priirilege is reserved to poy the debt in whole. or in an aino~wt equal to one a more moathly payments oe the principsl that ace aext due aa the aote. oo the first day of any moath prior to matarity: Provided, however. that writtea aot~ce of an iatention to exercise such privilege is given at least thitty (30) days pria to prepaymeat; and, provided further. that in tLe eveat the debt is paid in full prior to maturlty aad at that time it is insured under the provisions of the Natioaal Housing Act, he wlll pay to the mortgagee an adjusted pcemium cherge of one per centum (1%) of the original principal amonnt thereof. except that in no event shall the adjusted premium exceed the aggcegate emouat of premium charges ahich vrould 6ave been payable if the mortgage had contiaued to be insuced until matwity; such payment to be applied by the mort- gagee upon its obligation to the Secretary of Housiag and Urban Developmeat oa accoant of mortgsge insur~nce. 2. That, in order more fully to protect the secnrity of this mortg,age. the mortgagor, together with, aad in addi- • tioa to. the monthly payments uader the terms of the ade secured hereby. on the first dey of each month uatil the said aote is fully paid, will pay to the moctgagee the follavning sums: (o) Aa amount suEficieat to provide the holder hercof wlth tunds to p~r the aest mortea~e insursnce ~uemium if this lastru- meat aad the note secured hereb~ are insured. or a moatl~ly c6uQe (ia lieu of • mort~aQe insur~nce premium) it Wey are held by We Secretary of Housin~ aad llrban Developmeat, as tollows: (I) If u?d so loaQ os sald note of even d~te and this iaaWment are iasured or are reiasured under the pwvisioas of the Notloaal HousiaQ Act, an amoaat sut[icient to ~ccumal~te in t6e bands ot the holder one (1) mont6 prior to its due date the aaaual mortQsQe insnraace premium. In order to pmvlde snch holder with tnods to p~r auc6 premium to the Secntary of Houaing wd Urbrn Developmeot p~vsu~nt to the I~I~tion~l Housln~ Act; ~s amended. ~nd applicable ReQa- l~tions Werounder; or ` (In If and so long as sdd note o[ evea date and thia insteument ~re 6eld bp tLe 8ecretarp of Ho~sing ~nd tlrb~n Develop- ment, a monthiy charQe (in lieu ot a mort~~e insuraace premium) whlch shall be in an amouat equal to ono-twelfth (1/12) of one-h~lf per centum of the avenge outstaadie~ bal~ace •dne o~ the note computed witbout takln~ into account deliaqnencies or prepaymants; (6) A sum equal to the ~ound rents, if ~ny, nen due. plu~ tl~e preminms tAat will nen becoioe ~e and pa~able on policies ~ of fire and other hosud insurance co~erina tl~e mort~aQed propert~. plns t~:es ~ad ~sses~eats ne:t due on the mort ~ g~Qed propert~ (~Il as estimated bp ffie mortg~Qee) less all sums alse~d~ p~id fheretor divided b~ tLe number oE mont6s to elapsE befoce one mont6 pda to the date wihen auch ground rents, preminms. t~:es. and ~ssessments will become tie- ~ liaquent, sach sums to be held br mortQa~ee in trust to par s~id around rents, preminms, t~es. andspecl~lassesaments; } ~d (c) All payments meatioaed in the t~?o precediaQ subsectloas o[ tLis panQr~ph aad all payments to be m~de under t6e note secured herebr shall be ~dded toQethe~ aod tHe aQgreQate amount thexof shall be paid b~ tLe mort~~~or each mont6 L? • ~ single parment to be ~pplied b~ the mort~oQee to the tollowinQ items In the order set tortA: (n premium charaes iwder t6e contract of ias~urance witli tbe Secretary oi Housina ~ud Urb~n Development. or monWly - charge (in llen of mort~e insurance premium). ~s the c~se may be; - (In eround rents, to:es. ~ssessmeats, tire. ond other hasud insuraace premiums; (I~ interest on the note secured 6ereb~; ond ~(IV) amortlsatlon of tbs priacip~l oE sald note. Aay deficiency in the amonnt af such aggregate monthly peyment shall, ~wless msde good by We mortgagor prior to the due date of the ne~ such peyment, constitu~te an event of default nnder tbis mortgage. The mortgagee may collect a"late charge" aot to eaceed t~vo cents_ (2~) fos each dollar (Sl) ~ each payment moce than fifteea (15) days in arrears to caver the eztra e:pease involved ia hendling delinqueat payments. 3. T6at if the total oE the peymeats made by the mortgagoc under (b) of paragRaph 2 preceding shall eaceed the amount of payments actually made by the mortgegee, foc gcound reats, taxes and assessments and insurance peemiams, as the case may be, snch escess shall be credited by t1~e mortgagee on subsequent payments to be mede by the mortgagor. If, ho~vever, tbe mont~ly peyments made by the ma~tgagoc nndec (6) of peragraph 2 pre- ~ ` ceding shall not be snfficieat to pey gRoand reats, taxes and assessments and insurance premiums, as the case ~ may tse, w6en the seme shall become dne and payable, then the matgagor shsll paq to the moctgagee any amount necessary to make up the deficiency, on a befare the dete ~vhen paymeat o[ snch graud reats, taxes, asaessments, or inssuance premiums shall be dne. If at aay time the matgagoc shaU tender to the cwdgpg~e in eccocdance with the pcovisions of the note securcd hereby, full payment d the eatire iadebtedness repcesented thereby, the moct- gagee shall, in computing the amount of such indebtednesa. ccedit to the account of the mat;agot ell payments made uader t6e provisioas of (a) ef perag~raph 2 hereaf whic6 the matgagee has not become oblig,ated to pey to f the Secretary af Housing end Utban Developmeat aad any balance remaining in the funda aocumulated ander the ; provisiona of (6J of said paragreph 2. If there shall be a defanlt under aay of the pcovisioas of this matgage. re- ! sultiag in a public sak of the premises covered xreby, o~ if tbe mortgagee acqnires the Qroperty otbenvise after ' default, the matgagee shall apply, at the time of tbe commencemeat af such proceedin$s ac at t~e time the prop- ` edy is athe~wise acquired, the b~lance thea remaining in the fmds aocumulated uader (6) af Ewregrraph 2 precedinB as a ccedit ag~inst the amoudt of princip4l then remaining nap~id nnder said note and shall pcoperlyadjust any peyments wbic6 a6a11 have been made undec (a) of said paragrapb. ~ 4. T6at be wiU pay aU taxes, assessments, water rates, and other governmeatal a municipol c6arges, fines, t a impositioas~ foc whicb pravisiaa has not been made berrinbefae, and ia defaalt thered the mortgagee may pay ~ the same; aad that he will promptly delivec the afficial teceipts thetefor to the mortgpgee. a~K~64 ~2784 ~ . ~ ~ „ ;~;YZ _ _ _ _ ~..;V.~ ~ ~ _ ~ ~ i ~ ~ r