The URL can be used to link to this page

Home My WebLink About0159 . ~ ~ . . . ~ ' ~ ~t , ~ . ~s said :.~::~~go~ does heceb~~ full~ war~Hnt thc -title to seid land, and every pact thcieot. and will defead the same ~ ~ again~c the lawful ctaims of all pe~sons whomscever. 1'i;UVIDED ALWAYS; and these preseats are executed and delivered upon the following coaditions. to wit: i.~ n:oitgagoc agcees to pay the matgagee. or ocder. the principal sum ot TH~ T~S~D S~X ~DRSD gIg'17 and 00~100- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Doltd~~ (S 10~6~j0.00 as evideaced by a note oi even date herewith. with inte~est from date at the rete of Bi2 pet ceatum ( ( 'X.) per annum oa the unpaid balence untii ~.:.;d. The said principal and interest shall be payable at the ofiice of ATICO FII~l1~cISL coffi'o~RS'PIoB, 15o southeast Thi~ca a,?enue, l+ti.ami, Florias or at ~uch othec place as the holder of the aote may designate in wrlting. in monthly installaients of SSJ~TY-THR~ ~ 90~100- - - - - - - - - - Dollars (S 63.90 coma,encing on the fi~st day of QCtO1~eT . 19 fi7 . and on t1~e tirst day of eacb month thereafter untiltheprincipal and int~rest ace [ully paid, except that the final payment of prim:ipal and interest, if not sooner paid. shall be due and pa>able on the first day of Septamber, 19~ : And shall duly, pranptly. and fully pedorm. discharge, execute, effect, complete. and com~ly vaith a~d abide by each and every the stipulations. agreeme~ts. conditioas, and covenants of said promissory note and of this mortgage. then this mortgage aad the estate heceby cceated shall cease aad be null and void.. , ~ And the modgaga futther covenants as Eollows: 1. That he will pay the indebtedness. as hereinbefare provided. Pri'vilege is reserved to pay the debt in whole, - or in an amount equal to one or more moathly paymeats on 1he principal that are next due on the note, on the [irst day of any month prior to matucity:. Provided. however, that writtea notice of an intention to execcise such privilege is given at least WirEy (30) days prior to prepayment; and~ pcovided further. that in the event the debt is paid in full prior to anaturity aad at that time,it is insnred under the provisioas of the National Housing Act, he will pay to the moctgagee an adjusted premium charge of one per centum (19L) oE the origiaal principal anwunt thereof, except that in no event shall the adjusted premium e:ceed the aggcegate amouat of premium charges which would have beea payable if the moctgage had continued to be iosured uatil maturity; such payment to be applied by the mort- gagee upon its oblig,atioa to the Secretaty of Housing and Urban Development on accouat of modg~age insucaace. 2. That, in order more fully-to protect the security oi this matg,age, the mortgagor, together wit6. and in addi- tion to, the monthly payments uader the terms of the not~ secuced hereby, on the first day of each month until the said note is fully paid, will pay to the modgagee the followiag sums: " (aJ Aa amount sutflcieat to provide the holder 6eceot ~rith fw~ds to p~r t6e nezt mort~aQe Ltsurance premium if this instrw mmt aadthe note secured haeby are iasured. or a moathly chuge (in lien ot a mortgaQe in~ursnce prrmium) if they ue held by the SeCretar~ of Hausin~ and Urban Developmeat. as folloR~: p) II and so loa~ as said aote of even date and this instzument are insurod or ace reinsuced onder the p~vlsions o[ ffie National Housing Act. an amount sufCicient to accumulate in the baads ot the 6oider oae (1) mont6~ ~ior to its due date t6e annual mortgage jnsuraace pcemium, in order to _pmvlde suc6 holder with hmds to p~y tucb premi~ to the Secretarp o[ Housing aad Urbon Developmml p~usu~nt to the National HousinQ Act, as amended. and applic~bte Regu- lations ffieeenader, or (II) If aad so loag os said note of even date aad thia iaswmeat ore 6eld b~ the Secretary of Houaiag and Urban Develop- ment, a moathlr charge (ia lien of a mortgage insunnce premium) ~?hic6 s6a11 be ia an amnnat equa] to one-twelftL (1/14) of one-h~lf (y~) per centum of the overage outstaading balance due on tbe note computed witl~out talcing into account delinqueacles or prep~ymeata; (6) A sum equ~l to the ~owd rents. if any. nezt due. plus the premiums that will nezt become due and p~rable on policies I ot [ite and ot6er hasard insurance coverioQ tLe mortgoged prope+ty. plns tazes ~nd ossessments nezt due on the mort- i ga~ed property (all ~s estimated by the mortgagee) less aU sums already paid Wcre[or divided b~ ffie number of months to el~pse be[ore one manth prioc to the date when suc6 ~ound rents, premlums, Uzes. and assessmeata ~rill become de- ( linquent. such sums to be held by mortgaQee in trust to poy satd ~ro~d reats. premiums. ta:es, ~nd special assessments; ~ and (ecJ All paymeats meationed in the t~vo preceding snbsectioas of this paragraph and •11 paqments to be made under the note secured hereb~ shall be added togetber aad the agg~e~ote amount t6eceof shall be paid by We awrtgagor each montb in a sinele payment to be applied b~ ffie a?ortgagee to ffie follo~ving items in the otder set forth: (n premlum charges uadtr the conUact of insurance wIf}r the Secretary o[ Housiag aad Urban Development, or monthlr char~e (in lieu of mort~age insurance premium), as We case may be; (In ~round tcats, tazes. assessmeats, fire, and otLer lwsard ina+uance ptemiums; (QI) interest oa the aote aecnred hereb~; ond , amodis~tlon of tbe prlaclp~l of aaid aote. Any d~fisiency in the amount of such aggregate monthly paymeat shall, w~less made good by the mortgagor prior to the due date of the aezt snch peyment, coostitute aa event of default under this moctgage. The mortgagee may collect a"late charge" not to e:ceed two ceats (2~) foc each dollar (=1) of each payment more than fifteea (15) days in arrears to cover the e:tra e:pease involved in handling delinquent paymeats. - 3. T6at if the total of the peyments made by the mortgagor uader (b) of paragcaph 2 preceding shall exceed the amount of peyments actnelly made by the moctgagee, for g~rouad reats, taxes and assessments and insurance premiums, as the cese may be, snch ezcess s6a11 be credited by the mortga~ee on subsequent paymeats to be made by the mortgagor. If, however, the moncbiy ~y~a~ made by the matgagor uader (b) of paragrepb 2 pre- ceding shall not be sufficieat to pey gFoand cents, taues and assessmaats and insarance pcemiams, as the case may be, when the same shell become due sal payable, then the matgagoc shall pay to the modgagee any amount ~ necessary to make np t6e deficiency, oa or befae t6e date when peyment of suc6 giround rents, taxes, essessments, or insurance pceminms shall be due. If at any time ti~e matgagor s6all tender to the modg,agee in accocda~e witb the provisions of the note secuced bereby, full payment of tLe entire indebtedness repcesented t6eceby. the mort- gagee shall. ia computiag the amonnt af such indebtedness, credit to the accw~nt af the matgagor all payments made uader the prarisions of (a) of parag~aph 2 hereaf a6ic6 t6e matgagee has not become obligated to payto the Secretacy d Housing and Urban Developmeat and any balance remaining ia the funds accumulated under We provisioas of (b) of said paragReph 2. IE thece shall be a default nader aay of the provisions of this matgsge, re- ~ sultiag iu a public sale of the premises covered ~ereby, or if the matga~ee acquires the property otbe~rise after default, the matgagee sball apply. at the time of the commencement of such proceeding,s a at the time t6e prop- erty ;s othenvis~ ecquired, tbe balance then remaioing ia t6e fuads accumulated uader (6) of E?sragReph 2 preceding as a ccedit ag,4iost the •amount of principal tbea remaining aapaid under said note and shall properly adjnst any paYmeats wbich shall have been made ander (a) of said paregtaph• ~ . 4. That he aill pay all tazes, assessmeats. water rates. and dher governmeatal or municipal charges, fines, a impositioas. for which pravisioa hes not been made hereinbefae, and in default thereaf the mortgagee may pey tbe same; and that 6e will promptly deliver the offictal receipts the:efor to the mortg,agee. ( . ~oK~$ ~ ~ ) . ~ - ~r~_: