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seid l~.ulgagor does 1K~eby fully wariaat tl~ tltle to said laad. and every part thereof. aad will defead the same
a~ainsc the lawful claims of all persons wnoosoever. ~
PF:OVIDED ALMIAYS. aad these presents are e:~cuted and ckUvered upon the followin~ conditia~s, to wit;
'l~i~r matgp~o: o to pay tl~e mortga~ee. ac oeder, tha principal sum oE B~Y~'1'~ 4~~fD >I/S
~ W~W~ ~ • ~ • ~ • ~ ~ w ~ • ~ ~ ~ ~ • ~ • ~ • • ~ ~ • ~ • • • w •
Doll.rs tS 17~900•00 as evideaced by a nole ot eyea date herewith, with intecest from date at the
rate of SiZ per ceatwm ( ( per annum oa tLe unpaid balance ~
uatil ~.aid. The satd pciacippl and 3aterest shall be payable at the offke oE
J. S. BT~B'P ~Gl4= CQI~~, I~C. , 8aite 30A - 100 Mis~aols MXl~, Coral Qablea, lrlorids,
ot et auch othet place es t6e belde~ of the note ray desigpate in wrlting, ia moathly instellments of
~~gjp ~ ~yd 4p~lpp• ~ • • • DOllars (t 1Q~~4p COmmenc~ng Of1
the fi~s1 day vf ~'11 . 19(?' , aad auu the first day of each month theteaftet uatiltbepcincipal
~ad interest are fully paid, e~ocept that the fiaal paymwt of piiacipal end interest, if not sooner paid. shall be due
aad ~?a~ abie oa che tirsc day of 1~?ro~, 199'J ~ :
And shall duly, pcanptly. ond fully pedocm, discharge, execute. eEfect. complete, and coanply ~viih and abide
by each ead every t6e stipulations. agFeements. conditions, and coveaants of said ptomisaory note end of this
mortgage, thea t6is mortgage and tbe estate 6ereby cr~ted sh~ll ce~se and be aull and void.Y
An~ tf~e mortg,sgoc fudher caveaaats Rs follaws: . .
1. That be aill pay the indebtedness, as beceinbefore provided. Priirilege is reserved to pay the debt in whole,
or in an amount eqnal to one er mae waathly payments on the principel that are next due oa the note, o~ t6e first
day of any month prioc to maturity: Proviled~ however. tl~at prittea notice of an intention to exercise such privilege
is given at least thicty (30) days prior to prepayment; and. provided fudher. that in the eveat the debt is peid in
full pcior to maturity and at that time it ls iasared w~der the pco~isioas of the National Housing Act, ue will pay to
the mortgagee an adjusted premiuio charge of oae per centum (1%) of tbe~ origiaal principal amount thereof. except
Wat in no event shall tLe edjnsted premiam ezeeed the aggcegate emonnt of premium charges vvhich would bave
been payable if the m«tg~age had ooatinned to be iosured natit matnrity; such paymeat to be applied by the mod-
gagee upoa its obliptia~ to the Secretary af Housiag and Urban Development aa account af modg~ege iasurance.
2. That, ia ocder moce fully to protect t6e secnrity at t6is mortg,age, the mortgagor, together wiW. and in addi-
tion to, the manthly payments uoder the terms o[ tbe note secured 6ereby. on the first day of each month until the
said ~ote is fnlly paid. will pey to tbe matg,a~ee the follaviag sums:
(aJ An amomt soglcleut to provlde the holder Lereof with hu?ds to paj the pezt mortga~e insuraace premium if this iasw-
meat and We note secured hereb~ are insurad. or a montblr chuae (ia lien of • mortgage iasurance premium) if they are
held bp the SeCr~t~ry of Honsin~ and Urb~n Developoent, ~s follows:
(I) If aad w laa~ ~s satd note of even date and this insttuoeut are insured ar ore reinsured under the pwvisions ob !he
Natiooal Honsin~ Act, ~n a~ount sntticieat to accumnlate in t6e hands ot the holdes oae (1) month prior to its due
date t6e amual moct~a`e insurance pcemluo~, in oider to .provide snch holder ~rith tuads to p~y snchaeemium to the
Secret~r~ of Hoasln~ aad Urbon Derelopmmt pnrw~nt to tbe National Housia~ Act, as ameaded. and applicable ReQu-
latioas fheieuadet: ot ~
If and so lout ~s said note d even date and tl~is instcuma?t m held bp tbe Secretary ot Housing and Urbsn Develop-
mea~ a monthl~ ct?ares (ln lien o( a mo~t~+ase insnrapce premium) w6ich shall be in ~n aaw+unt eqnal to onr-nvelfth
(1/12) ot oae-hdf (ys) per cenb~ ot t6e ~~era~e ontstandfne balroce due on-t6e ~te compated writhout t~inQ iato
j accomt delinqnencies ur prepa~seds;
i (b) A sum equal W the ~romd rcnts. if a~, oen due, plw fbe premluma t6at will nezt become dae aad p~yable on pollcies
~ of Eice and ot6er Luard insuraoce co~erio~ the mort~a~ed property. plus ta:es and sssessments nert due on tbe mort-
f gaged propettr (oU os esti~sated 6y tbe ~aQee) less aU sums olre~dp paid tberetor divided by the aumber of a?oot6s
to eiapae be[ore oae maath prior to t6e d~te w6en snch ~reuad rents. pceminms, t~ses. and assessmests will become de-
tinquent, snch sums to be held bp mat~aQee in trast to p~~ sdd ~,rouad reats. preminms. t~es, ~nd specLlassessments;
and
(c) All p~rmenb mmtioaed in tbe two precedio` snbsectioos of this para~apb and sil pwymeats to be made uader the note
secured 6ereb~ shall be addnd to~ether aod tbe agge~ate ~wnt thereoE shail be paid by ffie mort~~~or e~ch month in a .
sin~te paYmeat to be ~pplled by the ~~ee to tLe tollowinQ items in the order set [orth:
m PK~~ ~~es ~~e eontnet• at ~s~+mce-~itb t6e~Secretary of Housing and Urban Development; or monthlq
e6ar~e (is lisa oE ~t~~ Insiranc~ preeivo). as tbe case. m~7 be:
(In Qound reats, tuei. assessments. Sre. and otber hasud insu:ance preminms;
(IIn interest on the note setoled L~reb~: aed ~
(IV) amortis~tlon ot the pdnctpal oE said noi~.. : . _
- Aay deficieacy in the amount aE snch aggreg,~te monthly peymeat shall, unless made good by the matgagor
prior to the due date af the neit su~h piy~eM, C~stit~de an event of default nnder this moctgage. The modgagee
maq collect a"late charg~e" not to e:ceed two cents (2~) for each dollar (~1) of each payment moce than fifteen
(15) days in acreacs to cavet tbe estra e:peose involved ia handling delinquent payments.
3. That if the total of t6e payments made by the matgsgor ander (b) of parag~aph 2 preceding shall exceed
the amount of poyments actually made bq tbe moctgag~ee, fqc g~aund rents, tanes and essessa~ents aad insurance
premiums, ss the case may be, anch escess shall be credited by the mortgagee on subsequent payments to be
made by the mortg,agor. ff, 6owever, tLe monthlY P~Y~ats msde by the mortgagor under (6J of paragreph 2 pre-
cedia~ •shall nd be saKicient to poY gta~ud eent~, t~es and assessm~ata and ins~uaaCe preminms, as the case
may be, ar6en the same shall becooe due aad poyable, tben tbe mat~agor shall pey to the matg,agee aay amount
aecessary to maloe up t6e deficiency, oo ac befa~e tLe date whea poyment of suc6 ground rents. tases, assessments,
a ins~ua~ premiams sball be dne. It at any time tbe matgagc~r shallteader to the mod~,t,agee ie accordance with
the provisiaos d tbe nde secured 6erebl?. fall P4Yse'nt of the eatire indebtedness repcesented thereby, tLe mort-
g,o6ee shall, in compntia` tLe a~ooat d snc6 iadcbtedness, credit to the accouat af the matgagor all peymeats
twds under tLe pcavisions oE (aJ d para~ap6 2 hereaf w6ich the m«tgagee has not become obligated to pey to
the Secretary-af Hausins aad Ucban Develop~eat aod ony balaacx remainiog in the fuads accwoulated under tbe •
provisioas of (bJ cf said paragRapb 2. If there ahell be o defanlt uoder aay of the pcarisioas ot t6is mortgpge, ro-
snlting in a~ablic sab ef tbe peeaiees caveced _xreby, a if the mortga~ee acqnirts Ehe Properh+ othecwise after
defanlt. the moetg,a~ee sball apply, at tLe tise ef ~tLe com~encement of snch proceeding,s a at the time the pcop-
etty is othetwiae acquiced, the balanoe tLen nm4inias in the foada accumulated widec (61 oE P~6~Pb 2 P~d~B
as a crcdit a~inst tLe aoooat af p~iocipal the~ rerinL~g ~mpatd nnder said note a~ shall properlyadjust any -
PaYmenb w6ic6 s6a116ave b~en ~ and~ ~a) oE said psra~aph. ~
4. T6at he wiU pay all t~es, assessoents, water rates, and dher governmeatal or muaicipal charges, fiaes,
or i~positicos, for whicb pra?isiao iws not be~n rde heuinbeface, aad in defanlt t6eced the matQa~ee may pay
tl~e same; and t6at he will pcc~ptly delivet t6e offic~l e~eoeipts therefor to the moitg~gee.
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