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said matgaga does hereby fully waRaat the title to said laad. and aveiy p~ut thereof. ~nd wlll dafend tbe same ~
against the lawful claima of a!1 persaas w6omsoever.
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PROVIDED ALWAYS. and these preseat~ are executed aad dellvered upoa t~e followiag ca~dltla~, to wtt:
The matgagoc agrees to pay t6e matgagee. a order. the princlpal sum of
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Dolltirs (s 1~. OQ ~ ~~1
~ ,~s evideac a note of even date herewitb, wlth inte~st Eroa d~te ot the ~
cate of p er ceatum ( 6 X) P e r a n n u a~ o a t h
e u a p a i
d b
a t
a
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uatil paid. ?he said p~incipal aad iaterest ~hhall be p~yable at the office of ~ -
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Suite_300 - 100 Miracla Mile, Coral Gables,+Florida I
oc at such otber lace as the holder of the note may desigaate in writla , Ia moathly iastallments of~..~..~~~~~,~
SIICTY-S~ AND 2~~].QO-•--------- Dollars ~7.2~ coau~cacing oa .
the first day of ~fg~r , 19 (~7. aad aa tbe first day of eacb moath thereafter untilt6e Iaci 1 ~
aad intecest are fnlly poid, except tLat t6e finel peymeat of priacipal aad intecest. if aot sooner paid, shall be ~ue #
and payable oa tl~ first day ~ Ap~l, 1997, ~ ~
Aad shall daly. promptly, and fullq perform, discharge, execute, effect. coa~plete. and comp2y with ~ad ablde
by eac6 and ever~? the stiputatioas. a~reemeats. coaditioas. aad coveaaats of saia promissory note ~ud of this ~
~6~Be. then t6is mat~e and tbe estate heroby ceeated s6s11 ca~sae end be nnll and void. ~ ~
And t6e matgagor further coveaants as follo~vs: ` - ~ ~
1. That be will pay the indebtedness, as hereinbefore provided. I~rivilege is reserved to pay the debt in whole, ~
or ia aa amount equal to oae oc mae monthly peyments on the principal that ace aext due on the nofe. on the ficst
day of a~r moath prior to metudty: Provided, however. t6at writtea notice af aa iateatian to ezeccise sucb privile~e '
is givet~ at least thirty (30) days prio~ to pcepayaeat; and, ~xovided further, tbat in the event the debt is poid in ~
f~ill prior to matudty and at that time it is insared wider the provisions of the Natioaal Housing Act. !ie ~ill pay to
the modgagee an adjusted pr~minm charge of oae per centum (1%) of the ociginal priacipel amount tLeceof, except
Wat ia ao event shall the adjusted premium exceed the aggcegnte amouat of premiuni charges .ahich woaid 6ave ~
been payable if the matgage had coatinued to be insu~d nntil maturity; such peyaent to be applied by Uu mort- -
gagee upon Its obligatloa to tl~e Secretary of Nousing and Urban Development oa account of moctg~ge insutance. -
2. That, ia order more fnlly to protect the security of Wis mortgrage. tbe mortgagor, together wiW, and in addi- ~
tioa to, the mannthlY paYments nnder the terms of the ade secured heceby. oa the fiest da~r of each moaW nntil t6e -
said note is fully paid, will pey to the moctgagee tiie follawing snms: . ~
(o) M~aaon~t sa~tcient to provlde tl~e tiolder 6ereo[ ~v[th Innds to pa~ the ae:t mo=tQ+ee iusuraace preaiinm it this instrw • ~
meat ~nd tbe nots secored hereb~ ~re insnred, or ~ monti?ly ehar~e (in llen ot a mort~a~e iosurance p:eminm) if fhe~ ue
beld b~ tl~e Secrctary oE HonsinQ and Urb~aDetelopmeat. •s follows: f
(n IE ~ad so lonR as s~id note ot e~en date and tbis taswment are insured or are eeinsured uader tbe proysio~s of the ~
N~tional Housio~ Act, an amqmt ani[icieat to accwiunt~te in the baads o! t6e holder oue (1) month pdoc to its dne ~ ~
date tbe ~anual mort~a~e lasw+mce premium, in order to provide snch holder with_ [unds to p~r snc6peeminm to t6e ~
Secret~ of Housine and Urb~n De"velopment pnrwant to tbe Natloaal Hons.ia~ Act, as anended, aad applicable ReQn-
l~tloas tbereuader. oe
(ln It aad so long as said note at even date and W1s Instrument are beld b~ the Secret~ep of Honsie~ ~d Urb~n Derelop-
meat, a moatblr cbar~e (In liea of a mort~+~Qe insnrance premium) wh[cb ahdl be in an amount eqa~l to oae-t~relfffi
(1/12) oi one-l?al[ (y,) per ceatam ot the ~venQe ontsWidin~ bai~nce due ao We note computed ~rithont tatlo~ into ~
~ccouat deIinquenctes or pcepapmeots;
(bj A sum eqaal to ffie ground rents, if ao~. nest due, plus the pseminms t6at will aest become dne and parable on policiea
of fire aad otLer hasard iasarrnce coverine tl~e mort~a~ed p~opertp, plns tates aad assessaKnts nezt due oa tAe mort-
~aged pmpert~ (all ~s estimated 6~ the mortgagee) less ati sums already pald tberefor divided by the nmber of owaffis
to el~pse before ~e mmtb prlor to the d~te when such ~nd reab, preminms. t~:es, aad ~ssessments will become de- ~
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ent. snch sums to be held by mortga~ee in tmst to p~~ sdd a,ronnd rents. preminms, t~ea, and s
pecLlassessmeots;
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(c) A11 pwymenta mentioned in t6e t~no precedia~ tubsections ot tLis p~ra~rapb and oLl papments to be made noder tbe note
secured hereb~ ahall be added togeffier ~nd We a~eQate amaint thereof ahall be paid by tLe mortg~~or each montl~ in • ~
single pa~rmeat to be appiied bp the mortgagee to tbe tollowing items in fbe order set tort6: ~
(n preminm c6a~es oader t6e coatnct ot insuraace wifh the Secretary of Houslna aad Urban Development, or moatbly '
chary~e (in liea ot mort~e inaurance premiqm), a~ the case may be;
(In arouad rcnts. tazes, assessmeats. ttre, +nd otber hasard insnraace pemiums;
(IIn iaterest on tbe note secured heeeb~; ~nd
(IV) ~ma~ttis~tion of tLe yrlncip~l ot said note. - • - - - '
Aay deficieacy ia th~ aatount af such agpreg,ate moathly payment sball,' unless made good by the matgaga
prior to tbe due date of the next snch peymeot; coaatit~e~ an eveat d defeult urder t6is moctgage. The mortgagee
may collect a"late charge'r not to exceed two cents (2;j fa eacle dollar (;1) of esc6 paymeat more t6an fifteen
(15) days iu arrears to eover the e~ra e:pense involved in 6andling delinque~ peyments.
3. T6at if the tdal af: the 'peyments made by th~e m«tg,sgor ~neder (6,1 of parag~apb 2 pcecediag shall exceed
the amawt aE peyments aetaally made 6y the mortgagee, for g,coand r~nts, tazes and assessments and iasucaaoe
pneminms, as tbe case may be, suc6 ezcess shall be credited by tbe mortg,ng,ee oo subsequent peymeats to be ~
made by tbe matgagor. If, bo~rever, the monthlY PaYments mede by the matgaga under (61 of P~raBiaPb 2 Pre-
cediag shall~ ad be sufflcient to pay g~aund cents, taxea And essessmants ~nd insuraace premiums, as the cese
maq be. whea the same shaU becoaoe dne and payable, tl~ea tbe moctgaga sbsl! pey to the matgpgee aay amount
necessary to make ap the deficieacy, on a befac~e the date ahen paymeat oE such gtound rents, taies, assessments,
oc i~~reace piemiua~s sball be due. If at any time tbe moctgaga sballtendet to t~e moitgagee ia sccadaace with
the pcovisioaa of ffie ade secnred 6eceby, full peyment of the entire iadebtedness represented therebq. tbe n~ort-
gagee shall, in compptiag the amount af snch indebtedness, ccedit to the accoant ef t6e matgaga alt payments
made under the pravisioas of (aJ of pareg~aph 2 hereof which the matgagee has not become obli~sied to pay to
the Secretary of Hoaeing and Ucban Developme4t aad any balence remaining in the fand$ ~ccumnlated uoder, the
provisioas af (b) of said paragreph 2. If there shall be a default under ~nny of tl~e p~ov;s;ons oE this matpge~ re-
sultiag in e pnblic sale of the premises cover~d f~ereby, a if tbe matgagee acquires the Propecty othecwise after
detaylt, the moctg,agee shall apply, at the time of t6e comniencemeat of anch proceeding~s oc et the time t~e prop-
erty is othecwise acqnired, the bolaace then remainiag in the fonds•aacumuleted uader (bJ of parag~aph 2 preceding ~
as a credit ag,ainst tbe amouat of principal tben remaiaing ~wwpaid nnder said note aad shall properly adjust any
psYmeats which s6s11 have been made upder (a) of said paragtapb•
4. T6at 6e will pay all taxes, assessmeats, water rates, and other goveramental a muaicipel charges, fines,
a impositioos, for which pravisioa has aot been made hereinbefae. and ia defanIt tbereaE tbe mortg,egee may pay
Lhe same;zend tiset he will promptty deliver t1~ official reoeipts there[oc to the moetgegee. ,
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