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Home My WebLink About1252 ~ . ~ ' , ~ i~, ;,i i ~ s' ~ said matgagor dces hereby fully wazraat the title to said l~nd, aad every poet thereof, aad wlll defead the same • a~aiast tbe lawful claims of all persons whoosoever. - PROVIDED ALWAYS. aad thess pceseats are executed aad deliveced upoa tbs followia~ caadltioas. to wil: ~~.~r.~~.~r~~~.~~~~~~.~~~~~.~~.r~~r SIXTSBN 1HOUSAND~FOUR~H~JNDRED AND rN0/100-~1 sum of . Doilars (t 16 ~ 400 • 00 as evideaced by • uote af evea date becewith, pltb Iaterest fcom ~ate ~t the rate of " S3x ~ pec ceatum ( 6 Per aaaus oa the unpaid belaace until p~id, Tbe said pdncipol and intecest shall be peyable at the o~ice af GBNBRAL GUARANTY MO~RI~GA~GB CQ~IPANY, INC. ~ in Winteic Park, Florida a at sucb dher place as the holder of the note may desiQaate ia writlag. in moathly iastallments oE NII~TY~EIGHT AND 40/100---------- Dollats (S 98.40 comaenciag oa ~he first day a~ July , 19 67 , aad oa tbe first day of each montb tbereafte~ uutil the pctacipol and intecest are fully paid, except tLat the final paymeat of principal and intecest. iE aot sooaer peid, shaU be due and payable aa tbe first day af June, 1997 ; And sh~ll duly, pcomptly, and fally pecfocm, dirchacge. e:ecute. effect, complete. a~d caaply with sad abide by ench aad every t6e stipulatioas, agceements, conditian~. and coveoants of said pcanissory aote aad of this mortgage. t6en this mortgage and the estate heceby cr~ated shall cease and be null aad void. And the matgaga~ further coveaaats as follows: 1. That 6e will pay the indebtedness, as heceinbefore provided. PriVilege is reserved to pay tbe debt ia whole. or in aa amonnt equal to oae a mae moathly paymeats on We priacipel that ace next due on the aote. oa tbe first day af any month prior to maturity: Provided, however, tbat writtea aotice of aa intentioa to exercise soch ptivilege is given at least thicty (30) days ptia to prepeyment; aad. pcavided fiuthet, that in the eveat the debt is peid in full prior to matudty and at that time it is iasured uader tbe provisloas oE the Natioaal Nousing Act~ 6e will pay to , the mortgagee aa adjosted premium charge of one per centum (196) of the original pciacipal amount thereof. e:cept that in ao eveat shall t6e adJusted premium e:ceed the aggcegate amount of premium charger whic6 Would have beea Qayable if the moctgage 6ad continued to be insured uatil maturity; sach peymeat to be .applied by the mort- gagee upoa its oblig~tion to the Secretary of Housing and Ucben Development oa acca~nt of matgege insurance. 2. That, in order more fnlly to protect the security of this mortg,age, the modgagor, together with. aad ia addi- tioa to, the moathly payments ander the terms of the aote secured hereby, on the first dey of each moath until the said aote is fully paid, will pey to the modgagee the follawiag snms: (o) M~mount aufticient to provide H~e 6older hereof with Innds to pay the nezt awrtgaQe iasunncc premium if this iastrw weat wd the note secured hereby are iasured, or a nwnthlf c6arge (in llea ot a mortQage insarwce prcmium) if ther are 6eld bp the Secrotar~ of Hansina wd Ueb~n De~elopment, •s tolio~vs: - (I) It and so lao~ as sdd note ot evea date and tbis instrumeat are iasared or arc reiasured uader the pw~isiQns ot t6e - Natioaal Housin~ Act. an amount sni[icieat to accumulate in the hands ot the holder oae (1) mont6 p?lor to its due date t6e amual moctgage insarance prcmlum. Ia order to proride such holder wit6 funds to prr sucbptemium to ffie Secretary of Housing aad Urbaa Development pursunnt to the N~tional Housip~ Act. as amended, aad applicable ReQu- latiaas ffiereuader; or If and so long as aaid note ot even date and this instmmeat ve held bp_tbe Seeret~ of Housing and Urban Develop- ment, a morthlr charge (ia lleu of a mortQaae insuraace premiwo) which sball be la on amount equal to oartwelfth (1/12) of onrhalf (~y4) per centum of the avenge ontstaadiag balance due on t6e aote computed wit6out tatin~ into account deliaquencies or prepaymeats; (b) A sum eqaal to the ground reats, it aa~. ae:t duc. ptus the premiums Wat will nen become dne and p~~able an policles ot Cue aed otder hasard iasnrance covering tlu mortgaged property. plus ta:es and assessments aezt due os tl~e mort- gaged propertp (aU as eatimated by the mortgaQee) less all sums o3rcad~ paid ~erefot divided bp t6e auabes ot months to elapse be[ore one month prior to We date wrhen such ground rents. premiums. tazrs. ~ad ~saessments aill become de- P linquent, such sums to be held by mortgagee in trust to pay said ~an~ rsnts, premlums. t~es. andspecial~ssesasents; ~ ~a • . (eJ Ali poymeats tioaed in the t~vo preceding subsectioas of Wia paragrapti and aIl pqments to be m~de under tho aote ~ secured herebj~all be added together and t6e agBre~ate amount thereof shall be paid b~ the mortga~or eac6 month in ~ ~ single payment to be applied by the mortgagee to t6e follo~ring items in fhe order set torth: ~ (n premiwn c6uges nnder t6e contract ot insuraace wiffi tLe Secretarp of Housing and Urban Developoent, or moathl~ ch~rge (ia lieu oE mortga~e Insurance premium), as the caae moy be; ~ (tn eroimd rents, trzes. assessmeats, fire, 4nd otber hasard iesuraace p~emiums; ~ (Im interest on the note secured herebr; and (IV) amortisation of the princip~l of said note. Any deEiciency in the amount af such aggregate monthly payment shall, nnless made good by the mortgagor prior to the due date of the ne~ct suCh peymeat, constit~e, an eveat d default under this mortgage. The modgagee may collect a"late charge" not to e:ceed tv~o cents (2~) foc each dollar (Sl) of each p~yment mae than fifteen (15) days in arrears to cover-the eitra expease involved ia haadling delinqueat payments. 3. That if the total of the pe~rments~ made by~the moctgagor nnder (b) of parag~aph 2 preceding shall e:ceed the arpount af peyments actuallq made by the moctgegee, fa ~onnd reats, tazes e~id assessments and insurance premiums, as the case may be, such ezcess shall be credited by the mortgagee an subsequent payments to be made by the moctgagor. If, hoarever, the monthly paymeats made by the mo~tgagor under (b) of peragreph 2 pre- ceding shall aot be sufficient to pay gROUad rents, taxes and assessmants and iasurance premiums, as the case may be, when the same sball become due and peyable, then the matgagor shall pay to the moctgagee any amount necessary to make up the deficieacy, on a befare the date w6ea payment of sucb ground rents, taxes, assessmeats, ~ or iasuraace premiums shall be due. If at any time the matgaga shalltender to the mortg,sgee in accordance with ~ the pcovisions of the aote secnred herebq, fnll Qayment of the eatire indebtedaess represented thereby, the mod- gagee shall, in compMing the amount of snch iadebtedaess, credit to the account af the a~ortgagor all payments made ander the pro~visions of (a) of parag~aph 2 lkceof vrhich the mortgagee 6as not become obligated to pey to the Secretary oE Housiag and Ucban Development and any balence remainiag ia the funds eccumulated under the ~ provisions oE (6J of said paregraph 2. 1f there shall be a default ~nder eny of the p[ovisiops ~ this mortgage, re- sulting in a public sale oE the premises covered ~ereby, a if the matgagee acquices the property othervnise after ~efsult, the mortgagee sball apply; at tl~e time of the commenceme~ of such proceediegs or at the time the prop- er~y is othe~wise acquired, the balance then remaiaing in the fuads accamulated under (b) of paragraph 2 preceding . ~ as a credit against the amoaat of principel then remaiaing uapaid under se~d note and shall properlyadjust aay _ `•~paymeats which shall heve been mede under (aJ af said paragreph. ~ 4. That he Wjll pay all tezes, assessments, watec rates, and atber governmental a municipel charges, fines, ~ oc impositioas, for whic6 pcovision 6as aot beea made heceinbefae, and in default theceof the mortgagee may pay ( the seme; snd that he will promptly deliver the aff'icial receipts tbereEoc to the mort~egee. m ~ ~ , ; ~ , . . .a am~166 ~125~ : - ~ . _ ~ ~ ~ ~ ~ - ~ ~ _