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Home My WebLink About2291 • • • ~ i suiJ ::6.;gor does hereby fu2ly wan:tnt the title to sa~d land, and eve~y part 11?creo[, and will defe~d the same again,s ~ne law(ul claims oE all persuns whomscever. 1'.,v: iDGD AL{AAYS. and tl~ese presents are executed and delivered upon the following condit:ons. to wit: 1 i... .:.~rt agor agrees to y the moctgagee, or o et. the principal sum o[ F~1u'ttlA '~1011aapd Five ~uttdr~d attc~Fifty and no~100------------_____________________ po~~;,,~ 14,550•00 as evidenced by a note of rven date herexith. with interest from date at the rete ~t ~•~----S~X-~-------~~~~ per centum ( 6 96) per annum ort the unpaid balance u~til ~•..,u. The said piincipal a~d interest shall be payable at the office of ATICO Finane ial Corp~ oratton; Poet Offfca Box 3131 in ~#ami, Florida 39132 a at ~L~li uthecpla ~s the hotder of the note may designate in writin~j. m monthly installments of E ighty~ seven aad 30~~~V~~~~~~~~~~~w~+~~.~ Dollars s~• ~30 ( commencing on the t~~;.t day o[ ~CtOb~' , 19 67 . aad on thc first day of each monih ihereafter until the principal and i~?,.-~z_,t are tuily paid~ except that the Einal paymertt oi principal and intetest, if not sooner paid, shall be due and {k+~•able on the first day of SepteQb~r, 1997 ; A~~d ~hall duly, promptly, and [ully pedorm, discharge, e:cecute. effect. complete. and comply with and abide by each and evecy the stipulations, ag~eements. conditions. and covenants of said promissory note and of this mortg;ige. then this mottgage a~ the estate hereby created shall cease and be null and void. And the matgagor turther covenants as follows: 1. That he will pay the indebtedness,as hereinbefore provided. Pri"vilege is reser~ed to pay the debt in whole. or in an amount equal to one or more monthly paymeats on the principal that are next due on the note, on ihe first day uf 4ny month prior to maturity: Provided. however, that written notice of an intention to exercise such privilege is gi~en at least thirty (30) days prior to ptepayment; and, ptovided fudher. that in the event the debt is paid in full piior to maturity and at that time it is insured under the provisions of fhe National Nousing Act. he will pay to the moctgagee an adjusted premium charge of one per centuai (1~6) oE the Sriginal principal amount thereof, except that in no event shall the adjusted premiuro exceed the aggregate amount~ of premium charges which wonld have been payable if the modgage had continued to be insured until maturity; such- payment to be applied by the mort- ~ gagee upon its obligation to the Secretary of Housiag and Urban Developoeent on account of modgage insurance. f 2. That. in order more futly to protect the security of this mottg,age, the mortgagor. together with, and_in addi- ~ tion to, the monthly payments under the terms of the not~ secured hereby, on the first day of each month until the said note is fully paid, will pay to the modgagee the follawing sums: (a/ An amount sutticient to provide the holder 6e~eot with [unds to pay the next mortgage insurance premium if this instru- ment andthe note securcd hereby ere insured, or a monthly charge (in lleu of a moirtgage iasurance premiumj iE they are held by the SeCtetary of Housing and Urban Developmcnt, es follo~rs: (I) If and so long as said note of even date aad this instrumeat are insured or are reinsured uader fhe proviaions of the National Housiag Act, an amount suf~cieat to accumulate in the haads of the hotder oae (i) month prior to its due date the annuel mortgage insurence premium, in order to .provide auch holder with funds to pay such premium to the Secretary o[ Housing and Urban Development ptusuant to the National Housing Act, as ame~ded, and applicable Regu- lations thereunder; or (II) If and so long os said aote of even date and this instrument are beld by lhe Secretary o[ Housiag and Urban Develop- ment, a monthly charge (in lieu oi a mo~tgage insurauce premium) w6ich shall be in an am~uet equai to one•tweffth ~ (1/12) of one-half (yS) per centum of the average outsteadiag balonce due oa the aote computed wilhout takiag iato account delinquencies or prepayments; ! (b) A sum equel to the ground rents. if aay, ne=t due, plus the premiums t6at will ae:t become due and payabte on policies ~ of fire aad other hazard insurance coverir~g We mortgaged propeitY, plus ta=es and assessments ne:t due or. the moK- gaged property (all as estimated by the mortgagee) less all sums already paid tt~ere[or divided hy the number of months i 40 -elapse before one moath ptiot to the date when suc6 groand rents, prequums, ta:es. and assessments wil! become de- ~ liaquent, such sums to be held by mortgagee iw trust to pny said gfound rents. premiums, tazes. and special assessments; pnd (c1 All payments mentioned in the two preceding subsections of this paragraph aad ail paymeats to be made under the aote , secured hereby sba11 be added together end the ag~egate amouat thereo[ shail be paid by the mottgagor each month i~ a single paymeat to be applied by the mortgagee tA the tollowiag items in We order set forth: (I) premium cha~ges under tbe contract of insurance wit6 t6e Secretary of Nousing and Urb~n Development, or monthly charge (In lieu of mortgage insurance premium)~ as tht case moy be• (II) ground rents, ta:es, asaesameats, Cre, and other hazard iasuraace premiums; (III) intercst on the aote secured herebq; and (11~ amortization oE the principal of said aote. Any deficiency in the amount of such.aggregate monthly payment shall, unless made good by the mortgagor prior to the due date of the next, snch payment, coastitute an event af default under tt~is mortgage. The rgodgagee ' may collect a"late charg~" not to exceed tao cents (2~) fot eacb dollar (Sl) of each payment moce than fifteen {15) days in anears to cover the extca ezpense involved in handling delinquent payments. i 3. '1°hat if the total of the payments made by the mortgagoc under (6) of parag~raph 2 preceding shall exceed ~ the amount of payments actually made by the moctgagee, for g~ound 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 mortgagor. [f, however~ the monthty payments made by the mortgagor ander (b) of paragraph 2 pre- t ceding shalt not be sufficient to pay grouad rents, taxes and assessmaats and insurance premiums, as the case ~ may be, when the same shall become due and peyable, then the moctgaga shall pay to the modgagee any amount necessary to make up the deficiency, on or befae the date when payment of such ground rents, taxes, assessments, . or insurance premiums shall be due. If at any time tbe mortgagor shatl tender to the mortgegee in accordance v~rith the provisions of the note secured hereby, fnll paymeat of the entire indebtedness represented thereby, the mort- gagee shall, in computing the amount of such indebtedness, credit to the account of the mortgagor all paymeats made under the provisions of (a) of paragraph 2 hereof w6ic6 the mortgagec has not becane obligated to pay to ~ the Secretary of Housing and Urban Development and any belance temaining in the funds accumulated under the ; provisions of (6J of said paragraph 2. If thece shalt be a default ander aay of the provisions of this mortg,age, re- t sulting irt a public sale oE the premises cove:ed aereby, oc if the mortgagee acquires the property othecwise after ; default, the moctgagee shall apply, at the time of the commencemeat of such proceedings or at the time the prop- ~ erty is othe~rise acquired, the balance then remaining in the funds ac~cumulated under (b) oE paragraph Z preceding ` as a credit against t6e amount of principel tben remaining unpeud under said aate and shatl properlyadjust any payments which s6al1 have been made unde~ (a) of said paragraph. ~ 4. `That he will pay all taxes, assessments, water rates, and other governmental or municipal charges, fines, or impositions, for which pravisian has not been made hereiabefae, and in deEault thereof the moctgagee may pay the same; and that he will promptly deliver the official ceceipts therefor to the modgagee. ; ~ e~K 167 ~~G~2291 _ , ~ E~~~ ~ . ~ . ~ ~