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Home My WebLink About0005 ~ : . said : ~osigngoc does heceby Iully warcant the title to seid lend~ and eve~y p~rt theceof, and will defend the same - against the law[ul claims of all pe~sons whomsoevec. i'KUVIDED ALWAYS, and tbese prese~ts are executed and delivered upon the following condltions, to wit: 71?~ mortgagor agrees to pay the mortgagee. a otder. the pclncipal sum oE F~ftetD '~01~~iDd and no/100----•-----•-----------------------------------•---------- i~olla~s (S 15~~0•~0 as evidenced by a note ot evea date herewith. with interest Erom date at the rate of s~ ~ per ceatum ( ` per annum oa the unpaid balance ~ until Naid. The said ptincipel end interest shall be peyable at the office of A'1'I(,b ~iIISQC~il Corporatio4, P.O. Box 3131, Miaai l, Florida - o~ at ~uch other place as the holder of the aote may desigpate in writing~ in moathly installments of ~Qa QO~.W~~~~~~~~~~~~~~~~~~ DOIIa[S ~590~~ COf11QICI1C1l1g Of1 the ti~st day of ~t . 19 67. aad oa the first day of each monlh thereaft~r untiltheprincipal end intecest are fully pa~, except that the final payment oE principal aad interest. it not sooner paid, shall be due ~ and papable on the first dey of July, 1997 ~ And shall duly. ptomptly. and fully perform, disc6arge, execute. effect, complete, and comply with a~ abide by each end every the stipulations, agreemeats. conditiaas, and covenants of said promissory aote and of this mortgage. then this mwtgage and the estate hereby created shatl cease aad be null a~d void. ~ And the matgagor further coveaants as folloas: 1. That he will pay the indebtedness. as hereinbefoce provided. Priirilege is reserved to pay the debt in whole, or in an amount equal to one or more monthly payments on the principal that are next due on the note. oe the tirst day of any month prior to maturity: Provided, hovvever. that written notice of an intention to exercise such privilege is given at feast thirty (30) days prior to prepayment; artd. provided further, that in the event the debt is paid in full prioc to maturity and at that time it is insured under the provisions of the National Housing Act, he will pay to the mortgagee an adjusted premium charge of one per centum (196) of the original principal amount thereof, except that in no event shall the adjusted premium exceed the aggregat~ amount of premium charges ahich would have been payable if the mortgage had continued to be iasured until maturity; such pay~ent to be applied by the mort- gagee upon its obligation to the Secretary of Ho~sing and Urban Development on account of modgage insurance. 2. That, in order more fully to pcotect the,security of this modgage, the a?ortgagor, together with. and in addi- tion to, the monthly payments under the terms of the note secured hereby, on the first day of each month until the said note is fully peid, will pay to the modgagee the follaaving sums: (a) An amouat sufficieat to pmvide the holder hereot wlth funds to pay the ne:t aartQaQe insurance premium if this instru- ment and the note secwed hereby ace iasured. or a moathly charge (in lieu of a mortgage insurance premium) i[ they are held by ihe Secretary of Housing aad Usban Development, as followa: (I) If and so long as said note ot even date aad this insWmeat ore insured or arc reinsured under the pwvisions of.-ffir Natioaal Housing Act, aa amount sufCcient to accumulate in the hands of the holder one (1) month prior to its due date the annual mortg~ge insurance p'remium, in order to provide such holder with Euads to pay suc6 premium to t6e Secretary of Housing and Urbaa Development pnrsuaat to the Natioaal Housing Act, as amended, and applicable Regu- latioas tbereuader; or (II) If aad so long as said note of even date and this instrumeat are held b~ We Secretary ot Housiag and Urbaa Develop- ment. a monthly charge (in lieu of a mortgage insurance pcemium) a6ich sDalt be in an aaMUnt equal to oae-twellth (1/12) of onahalt (~i4) per centum of the average outstanding balance due on t6e note computed vaithout taking into occount dellnquencies or prepayments; (6) A sum equai to the ground rents, i[ any. ne:t due, plus the premiums that will eest become due and payable on policies - of fire and other hazard iasuraace covering the mortgaged pwperty, plus ta:es and assessmeats ne:t due oa the mort- I~ gaged property (all as estimated by t6e mortgagee) lesa all sums already paid theretor dlvided by the number o[ months ! to elapse be[ore oae month prior to tl~e date when suc6 ground rents, premiums, tazes, and assessments will become de- + ~ linquent, such sums to be held by mortgagee in trust tQ~ay said ~ouad rcats. premiums, tazes. and special assessments; ` i and ~ - ~ { (c) All payments mmtioned in the two precediag subsections of this paragraph and all payments~p be made uader the note ~ secured hereby shall be added together and the agg~egate amount thereof shall be paid by the ~ortgagor each month in a ~ siagle payment to be applied by the mortgagee to the tollowing items in tha order set forth: (n premium charges under the contnct ot inswaace with the Secretary of Housing and Urban Development, or monthly ~ charge (in lieu of mortgage insurance premium), as the case may be; (II) ground reats, taxes, assessments. tire, aad other hazard insurance premiums; (III) intercst on the aote secured 6ereby; and % (I{~ amortisation of the principal of said note. f Any~ deficiency in the emwnt of such aggregate monthly payment shall, unless made good by the moctgagor ~ prior to the due date of the next such payment, constitute an event d default under this mortgage. The modgagee ~ ' may cqllect e"late charge" not to_exceed two cgnts (2~1 for each do~lar (~1) oE eaGh payment more than fifteen ¢ (15) days in arrears to cover the eutra expease invoived in handling delinquent payments. i _ 3. That if the total of the payments made bK the modgagor under (b) of paragcaph 2 preceding shall exceed ~ the amount of payments actually made by the mortgagee. foj,gROUnd rents~ taxes and assessments and insurance ~ premiums, as the case may be, such excess shall be credited by the mortgagee on subsequent payments to be : made by the modgagor. If, hovvever, the monthly payments made by the mortgagor under (6J of paragraph 2 pre- ~ ceding shall not be sufficient to pay g~ound rents, taxes and assessmants and insurance premiums, as the case ~ ~ me~t be, when the same shall become due and peyable, t6en the mortgagqr sball pay to the mortgagee any amonnt y necessary to make up the deficiency, on a befae the date whea payment of such ground reats, taxes, assessments. ~ ~ or insurance premiwas shall be due. If at any time the modgagor shall tender to the modgagee in accor~ance with ~ ~ the provisions of the note secured hereby, full payment of the eatire indebtedness represented thereby, the mort- ~ gagee shall. in computing the amonnt of such indebtedness, credit to the account of the mortgagor all payments ~ made under the provisioas of (a) of paragraph 2 hereof which t6e mortgagee has not become obligated to pay to 3 the Secretary of Housing and Urbaa Development and any balance remaining in the funds accumulated under the 3 pcovisions of (6J oE said paragraph Z. If t6ere shall be a deEault under eny of the provisions of this mortgage, re• ~ sulting in a public sele of the premises covered ~ereby, or if the mortgagee acquires the propedy othecwise after ~ ° defanlt, the matgagee shell apply. at the time of the commencement of such proceedings or at t6e time the prop- ; ~ edy is otherwise acquired, the belance then remaiaiag in the fnnds accwnulated under (6) of paragcaph 2 preceding ~ ~ as a credit against the amount of principal then temainiag unpaid under seid note aad shall properly adjust any . paya~ents which shall ha've been made under (aJ of said paragraph. f ~ 4. That he will pay all taxes, assessments, water rates, and other governmental or municipel charges, fines, ~ or impo~itions, Eor which provisio~ has not been made hereinbefae, and in default thereof the mortgagee may pay ' the same; aad that he will pranptly deliver the official receipts therefor to the mortgagee. - ~ ~ ~K167 4 ~ : ~ ~ ' ~ . y ~ ~ `a~~'<~_~~ - ~ ~ - ' 'E: ~ ~ ~ ~ ~ ~