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Home My WebLink About0263 ` ,r~ j~~~l r: . ~fj{~ k ~RO~?ID$D ALWAY3, and these presenta are execute3 and delivered upon the following condltions, to wit: ~ ~ The mortgagor agrees to pay the mortgagee, or order. the principal aum oi T~1'7~HWSAND ZII~E 1QJI~iDAED ~iD NO/100--•-----•-••---•---~•.••-:-•--•••--•--•.. Dollar~? (~13,900.00-•••---- aa evidenasd by a note of even date herewith. with interest from date at the rate of -•------•Sis---•--------•-•-----per ceutum (•--•6•-••9b) P~' atmtun on the nn- paid bslanoe untit paid. The said principal and intereat ahall be payable at the o81oe oi llatioaal lto~es ~ccsptance Corporation, Orlaado, Florida ~ or at auch other place aa the holder of the note may designate in writfng, in monthly installmenta of ~ 8ight~ Three and 40/100----------••------~oUare (i83.40-----•-•------)~oammencing on the flrst day of Ju4s . 19 67 . and on the Rrst day oi each raonth theresfter until the prlncipal and interest are tnlly paid, except that the flnal psyment of prlncipal and intere~t~ i! not aooner paid, ah~?U be due and paysble on the Rrst day of tiay 1997 . : ~lnd ahall duly. pmmptly. and l1~ji perform. dischArge, execute, effect, complete, and comply with and ~tbide by each and every the atipnlationa. agreements. conditions, and covenabta of said promissory note sad of thia mortg~ge, then this mortgage and the estate hereby created shall cea~aee and be Aull and void. And the mortgag~or tarther coveuants as folloa~a: - - l. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to the debt in whole, or in an amount equal to one or moi~ monthly. payments on the principa[ that are ne~ict due on the note, on the first da~• of any month prior to maturity: Pmvided. however, that written notice of an inteation to exercise such privilege is given at least thirty (SO) days prior to prepayment; and, provided further, that in the event the deUt is paid in fuQ prior to maturity and at that time it is insured under the provisioas of the National Housing Act, he will pay to the mortgagee at~ adjusted premium charg~e of one per centum (I ~6 j of the originai principal amount thereof. except that in no event shall the adjusted premium exceed the aggregate amount of pr~mium charges which would have been payable if the mort- gage had c~ontinued to be insured until maturit3•; such payment to be applied by the mortgagee upon its obligstion to the Federal Housing Cotranissioner on account of mortgage insurance, 2 That, in order more fully. to protect the secucity of this mortgage, the mortgagor. together with, and in uddition to. the monthly payments under the terms of the note secure~ hereby. on the first day of each month until the said note is fully paid, will pay to the mortgagee the following aums: (a) An amour,t su~licient to provide the holder hereof with funds to pay the next mortgage insurance premium if this inatrument and the note secured hereby are insured~ or a monthly charg~e (in lieu of a mortgage insurance premium) if they are held by the Federal Housing Commissioner. as follows : . (t) It and eo long as aaid note ot even date snd this instrument are insured or are ninsured under the - provisions of the National Housing Ack an snwnnt suftkient to secumulate in the handa oi the holder - one (1) month prior to its due date the aanual mortgage ir~suranoe preiniam, in order to provide auch holder with funda to pay such premium to the Federal Houaing Commiasioner pursuant to the National Housing Ack as amended, at~d applicable Ite~ulstions therEUnder; or (tt) If and so long as ssid note oi even date and th~a inatrument are held by the Federal Aousing Commia- sioner. a monthly chsrge (in liw of s mortgsge insuranoe premiwn) which shsll be in an amonnt equal to one-twelfth of one-half (~Ne ) per centum ot the aversge outstanding balance due on the note compnted without taking into aocount delinquenciea or prepsyments; . {b) A sum equal to the ground rents. if any, next due, plus the premiums that will n~xt become . due and payable on policiea of fire and other hazard insurance covering the mortgaged property~ plus taxes and assessments next due on the mortgaged property (a1l aa estimated by the mortgsgee) less alt sums already paid therefor divided by the number of months to elap~e before one mionth prior to the date when such ground rents, premiums~ taxes, and assessments will become deUnquent. such sums to he held by mortgageE in trust to pay aaid ground rents. premiums, taxes, and specisl assesa- menta; and - (c) All payments mentioned in the two preceding $ubsections of this paragraph and all pay- ments to be made under the note secured hereby shall be added together and the aggregate~mnunt thereof ~hatl be paid by the mortgagor each month in a single payment to be applied by the mort- gagee to the following items in the or~er set forth: (I) premium eharqea under the contract of insurance wiEh the F¢deral Housing Commiasioner. or raonthly , c}urge (in lieu of mortgage insurance premium), as the case may be; (n) ~inund rents. ta~ces, aseeasmenta, fire, and other hazard inaurance premiums; (ttt) mterest on the note secured herebq; and ' i (tv) amortization of the prineipsl of said note. ~ Any deficiency in the amount of such aggregate monthly paym~nt shall, unless made good by the ~ mortgagor prior to the due date of the next such payyment. oonstitube an event of defauit under this mor~ ~ gage. The mortgagee may cullect a"late charge' aot to exceed two cents (2~) for each dollar (~1) of E each payment more than fi~teen (15) dpys .in arrears to cover the extra expense involved in handling € delinquent payments. ~ E 3. That if the total of the payments madgby the mortgagor under (b) of paragraph 2 preceding ahall ~ exceed the amount of »ayments actuslly made by the mortgagee. for p~mound rents. taxea and aaaessmenta ~ and insurance prerniuma, sa the case map be, such excess shall be credited by the mortgagee on subseq~t psyments to be made by the mortgsgor. If, bowever, the monthly payments made by the mortgaBor ; under ib) ai P~sragr~?Ph 2 Pr~dinS shall not be anfficient to psyground renb, ta~ces aad asseasmenta ; and inaurance premiu~ as the case may be, whe~n the aame ahaU become due and mortgagor ahall pay to the mortgag~ee any ainount n PaYable, then the date when ~ ~~"y ~~e up the deficiency, on or before the . I Pg3~ent of auch ground renta tax~, assesBments, or inanrance premiuma ahall be due. If i at any time the mortgagor ahall tender to the mortgagee in aooordance with the provisiona of the note ~ aecured hereby, full payment of the eatire iudebtedness repreaented thereby, the mortgagee shall, ;n com- ; puting the amount of sucL indebtedness, credit to the aocount of the mortgagor all payments made under ~ the provisions o! (a) of para,~raph 2 hereof which the mortga,gee haa not become obligated to pay to the . Federai Houaing Commiasioner and any balance remaining in the funda accumulated under the pro~ isiona E of (b) oi ssid pzragnph 2. If there shall be a defautt under uty of the provisions of this mortgage, re- ~ aultin~ in a public aale of the premiaes oovered hereby. or ii the mortgagee acquirea t}ie pt+aperty other- ~ wi~e aiter defiul~ the mortgsg~ee shall apply, at the time of the oommencement oi auch proceedings or at ~ the time the pmperty is otherrviae acquired, the balanoe then remaining in the fands sccumulated under t (b) oi paragraph 2 preceding as a crQdit against the atnount of prtncipal then remaining unpaid under ; said note and sh~~ll properly adjuat any payments'vhich shall have beett made under (a) of aaid paragraph. - € 4. Thst he wilI paq all taxes, asseaamenta, water rates, aad other g~avernmental or municipal chargea, ; o R s1 ~ ~ Jf ~ ~ _ ~ a~~166 ~~~Z ~ - . , ~ ~~~~~~~~t.., - - . - _ _