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Home My WebLink About0668 . ~ i~~~~ said mottgagor does hereby fully warrant the title to said land, and eve~y pe~t thereof. end will de(end the same against !he laarful claims of ell peraons whomsoevet. PROVIDED ALWAYS. and these presents aca executed and deliveced upon the iolloaing caaditions, to wlt: The matgagw egrces to pay the matgagee, ot otder. the prlncipal sum of SLlfNt'1 '~LO~d ~'1t1~ ~l1lrOd ~ iiYV~~~~~w~~~~~~~~~~~~~~.~~~~~~~~~~~~~~~w~~~~~~~~~~~~~~~~~~~~~~~~~~+~~~~~~~~~~~~~~ polla ~~~r~~~ as evidenced by a note of evea date herewltb. with interest tmm date at the ~te ~ g~ per centum ( 6%) per atu~um oa the unpaid balaace until paid. The said principal and iaterest shalt be payable at the o~fice ot ~Q j~~ju, C~~(~ - Post OdlY.ce Aooc 3]3,7.~ 1ti~i~i~ lyo~idn _ 33332 ct at suc other pla~ce ===h =h=lde=of th ==ot=_may designate in writing~ in monthly installa~eets of $iT~ ~O aiIId ~3Q0- Dollara (S~•00 commeacing on the first dey of ~1Wf . 1967 , and on the [irst day of each montli thereafter uatil tbe principal and intecest are htlly peid. eYCept thet the final payaaent of principal aad interest. If not aoaner paid, shall be due and payable oa the fl~st day of .~1~1! ~ 1,~ ; And shall duly. promptly, and fully perform~ discharge. execute, efEect. complete. and comply with and abide by each aad every the stipulations. egreements. conditions. and coveaants of said pcomissory note and of this moKgage. thea this mortgage and the estate henby created shall cease and be aull aad void. Aad the matgago~ fwther covenants as follows: 1. That he will pay the indebtedness. as heteinbefore provided. Pril?ilege is reserved to pay the debt in ahole, or in en amouat equal to one or more monthly paymeats on the priacipal that are next due on the nate, oa the first day of any month prior to maturity: P.ovided. hoarever~ that aritten notice of an intention to exercise such privilege is given at least thirty (30) days pria to prepayment; and. provided fu~ther. that in the event the debt is paid in full prior to matudty and at that time it is insured under the provisions of the National Housing Ac:~ he will pay to the mortgagee an adjusted premium charge of oae per centum (1%) of the original principal amount thereof. except that in no event shall the adjusted premium exceed the eggregate amount of premieun charges which would have been payable if the mortgage had continued to be insured until maturity; such peyment to be aQplied by the mod- gagee upon its obligation to the Secretary of Housiag and Urban Cevelopmeat on accouat of ma:~ge ins~ueace. " 2. That. ia order more fully to ptotect the security of this matgage, the mortgagor, together with. and in addi- tioa to, the monthly payments under the tera~s of the nde secured hereby. on the first day of each month until the said note is fully paid, will pay to the mortgagee the follaving sums: (o) Aa amount sutiicieat to provide the holder heeeoE with twids to pa~ the aest mortQaQe insurance premium if this instrw mmt ~ad the aote secured hereby ~re insured, or + rnoathl~r char~e (ln lieu o[ a mortgage lnsuraace premium) if ther are 6eld Dr ffie Secretary of Housing aad Urb~a Davelopment, as follo~rs: (n U and ao loa~ as said note of e~ea d~te utd this ins{tnment ~re ioanred or ace rei~esarcd under the pw~isions of the N~tionai Hwsin~ Act. sa omount sutticiqpt to accua~nlate ia t6e 6ands o[ t!w holder pne (1) month prior to its due date the anaual mortgaQe Inswance preauum, ia order to pw~ida socU bolder.with tuads to pa~ sucLpremiam to the Secretary ot Housing ~nd Urb~n Development parsuant to the Nation~l Housin~ Act, as ~mended. ~ad appllcabie Regu- l~tions theteunder. or (ln I[ and so lon~ as said aote d even date aad this insteomeat aee beld br tbe Secret~ry ot Housiag and Urban De~elop- ment. a moathly charQe (in lien of ~ mort~Qe iasuraace premium) ~?hid? s6a11 be in an amonat equal to one-twelEth (1/12) o[ onrhal[ (y~) per centum of the averaQe outsWidIn~ b~l~ace due oa the aote compated aithont takin~ into account delinquencies or prepapments; i (b) A sum eqnal to t6e g~ound rcats, if anr, aezt due, plns ffie preminms t6~t wUl nezt become due ~nd payable oa pollcies ~ of Cue and other hazard insurance coverin~ the mort~a~ed propertr, plns t~:es ~nd assessments ne:t dne on the mort- gaQed propertp (all as estimated bp the mort~eee) less all sums ~Ireadp paid therefor divided br the aumber of oont6s to elapse beEore one monffi psio~ to the date arhea such g~ouad rents. preminms, ta:es, and assessments ~rill become de- linqueat. such soms to be 6eld by a?ottg~gee in trusf to p~y s~id around eeot~. preminms. tues, and special ~ssessments; and (eJ All parments mentioaed in the two precedin~ subsections of Wis para~ap6 ~nd all payments to be made under tbe note securcd 6ereb~ sh~ll be ~dded toQether md the •gg~eQate amwnt t6ereot sfull be p~id br tl~e morigagor.e~ch monW in a sinale payment to be applied b~ tbe mortQ~Qee to the [o1lowlnQ Items in We ordet set fort6: (n prcmium char~ea uader the c~tract ~ot. iqsuraace w?i!h jbe_Secretary of.Kou~ and Urbao Developmeat. or monthly charae (ia Uen of mortgate insw~nce peemtam), as the caae m~~ be; ' (In ~ouad rents, tues, assessmeats, fise. and other h~zard ias~nace premiums; (IIn interest oa t6e note secured becebp; ~nd (IV) amortisatioa of the p~incipal o[ said ote. Any deficieacy in ths amonat'aE suc~ aggregete monthly payment shall, nnless made good by the mortgagor _ prior to tbe due date of the ne:t such peyment. constitute an event of default under this mo~tgage. The modgagee may collect a"late charge" not to,-ezce~d taco ceat~ (2~) ta eacl~ dol~ar (~1~ of ~eae6 payme~ awre thaa fifteea - (15) days in arrears to cover the estra expe~e involved ia handling delinquent payments. 3. That if the total of tiie payu~its ~oade by tl~-aortgagoi uader (b) of paragtaph 2 preceding shall exceed - the amount of peymeats actually made by the matgagee, for g~rnu~d rents, tazes and assessmeats end insurance premiums. es the case ~r be, knch~_excess -ahill bs creaited by the matg,ag~e on subsequeat payments to be made by the mortgagor. tf, hawever, the moathly peyments made by the mortgagor undec (6) of paragraph 2 pre- ceding shall not be snfficient to pay g~ound rents, taxes sad assessmants and insurance premiums, as the case may be, ovhen tbe same shall become due and payable, thea the matgagor shall pey to the moctgagee any amount necessary to maioe np the deficieacy, on a before the date what paymeat of suc6 gxouad rents, ta:es, assessmeats, ; oc iasurance premiums shall be due. If at any time the moet~,sgoc shelltender to the nwtt~,agee in accordance ~vith ~ the pcoviaioos of tbe note secnred hereby, fnll paymeat oE the eMire iadebtedness repcesented ihereby, tbe mort- g,ogee shall, ia compnting the amount af such indebtedness. credit to the sccount of tl~ morteagor all payments m4de under the provisions of (a) of paragcaph 2 hereof which tl~e matgagee has aot become obligated to pey to the Secretary of Hoasing aad Urbsn Development aad aay balance remaiaiag in the fuads accumnleted uader the provisions aE (b) of said paragraph 2. If thece stwll be • defaalt uader any of the pcovlsions of this ma~tgpge, re- sultiag ia a public sale of the premises covered xreby, ac if the mortga~ee acqnires the pcoperty oRhes~ise after defeult, We matgagee shsll apply, at tbe_iime of the com~encement oE anch proceedlaB~s or at the time tbe prop- eity is ot6envise acquired, the belance thee remaining ie'tbe fnnds aocumulated nnder (b) of paragrap6 2 precedi4g as a credit ag,sinst tbe amonat of principal then remauung nnpaid under said aote aad shall properlyadjust any P~Yments which shall hava b~en made uodes (a) af said P~i~Pb• - : 4. That he ~vlll pay :ll taxes, assessq~ents, ~vater rates, and otber governmeatal oc mnnicipal charges, Eines, oc imposltioos, for ~vhich prwisiaa has Aot been made hereinbefae, and ia default thereof the mortgagee may pay the same; and that he alll promptly deliver~the official receipta therefor to the mat~gee. ~ ~ ~o~c166 ~ 666 ~ ' f ° ~ ~ _ _ _