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Home My WebLink About0200 . ' j ~ ~ ' ' t.t 1 i . ~ f ,aid mortgaga does herebv fuUy watran> >he title ta said land. and erer~• purt theceof, and will defend the same aga~nat the lewtul claims of all pecaons xhornsoever. _ ~ PR01i:PED ALNAYS. and these presents arc e~4cu~ed and delivered upoa the tollowing ca?dltions. to wtti The mwtga or egrees to pav the mor~gager. u~ oedet. ihe prlncipa) euc~ of ' NTNB 1HaJJS~ SIX HUNDRBD FIFTY AND Nt)/lOO------------------------------- Dolla~s (S 9~ 650.00 1. as eride~red b~ e n~~Re ot even date h~~ewith. with interest from date At the rate oi S~x ~ per ce-~~um ( 6 per annum on the unpaid balance until peid. The said principal and interest chall be pa~a!?le e1 the ofticp of ~ ~ GENBRAL C~JARANTY M~A;TGAGfi Cq~'ANY, INC. , in Winter Park , Florida oc at anch dhet place as the holde~ of the note mat designate in Nrriting. i~ monthly installmenis of ~ FIF'TY~SEVEN AND 90/100------------- Dolla~s (S 57.90 commeaciog on the first day of OCtober . 19 67 . and c+n ~he first da~• c+f eAch manth the~esfter urt'til the prin~:ipal~ and inierest are inlly paid~ except that the final.~+~~mrn~ u: t~rincipal and ~n~~rest. if n~X soone~ puid, shall be due and pa~able o~ the tirst da~ of SepteIDber~ 1997 , . And shell duly. pranptly, and iu11~• perform. discharge. exa~cute. •effect. complcte. ond comply v?ith and abide by each and every the stipulations~ c~greements. conditions, ond co~•enants of 'said promissory note and of tliis mortgage. thea this mortgage and the estate hereby creHted shall cease and be null and ~oid. Aad the matgagor turther covenants as follows: 1. That he wiil pay lhe indebtedness. as hereinbefore prc?vided. Pr~vilege i~ reserved to pa~• the debl in ahole. or in an amount equal to one or more monthly pa)ments on ~he principal that are next due un the note, o~ the first day of any month prior to muturity: Pro~~idca, hoveever, that written notice of an intenticm to e rcise such privileRe is given at least.thirty (3d) dass ptior to prepa~ment; and. provided further, that in the e~•~ the deM is paid in full prior to maturity end at that time it is insured under Ihe provisions of the National Housing Act. he W ill pa~ tc+ the mortgagee an adjusted premium charge of one per centum (1°,'0) of the ariginal principal amount thereof, exce~t that in no event shall the adjusted premium esceed the aggregate amaunt of premium charges which would ha~•e been payable if the mortgage had--coniioued to be insured until maturitp; such payment to be epplied by the mort- gagee upon its obligation to the Secretary of Housing and Urban De~~elopment on accamt of mortgage insurance. 2. That. in order more fully to protect ihe security uf this mortgage, the mortgegor. together with. and in addi- tion to, the monthly payments u~der the terms ot the note secured hereby, on the first day of each month untit the said note is fully paid, will pay to the mortgagee the following sums: . /o/ An amount sufficient to pruvide ihe holder hereo[ ~rith fuuds to pay the nest mortgage insu~nce premium if this inslru- ment i+ndthe notr secu~ed hereb~ are insured, or a monthiy charge (in lieu o( a mortgage inaurance prrmium) i( thet are beid bv the Secrelary ot Hou¢in~[ and Vrban Developeoent, as toUows: ql I[ end so long as soid n~tc ot even d~te and this inslrument are insured w~rc reinsured under Ihe proviaivns uf ~De Vstional HousinR Act, an amount suiticient to a~•cumulate in the hands of the holder ane t11 rr:onth prior to its dur date the annual mortgege insurance pr~cr.ium, in order to provide such holdet with tuads to pay surbptemium to the Secretary uf fiousing pnd Urbaa Developrr:ent pursuant to the Netional Housing Act, as amended, and eppiic•abic• t2r'u- lations ihereunder; or ~ 111) IJ and so long as ssid note ot rven date and this instrument are held by the'Secrelaqr ot Housing and Urban Dece:op- ment. a nonthly charge (in lieu of a mortgage insurance premium) which sho11 be in an amount equel to one-twetfth (1 l21 of one-hAi( (i:1 per centum o[ the average uutstanding balence due on the note computed without teking iMu account delinquencies or prep~yments; (hl A sum equal lo the grouad rents. if any. next due, pius Ihe premiums ihaf wili next ~ecome due and payable on pc+licies I ot (ire and other hazard iasurancr covering the mortqagrd property, plus taxes and assessmenls neri due on the mort- { gaged propettp (sll as estimated b~ the mortgaqee) less all sums already pafd theretor divided bv the number o[ months ~ to elapse beiure one aaath prior to the date when such ground rents, premiums, taxes, and assessments will becomc de- ; linquent, such sums to be held by mortgagee in trust to pay said ground reots, pmm~ums, ta:es, and epecial asses~ments. and (c/ A11 paya:ents mentioned in ihe iwo preceding aubsections of this para~aph and all payments t~. be made under lhr n:.te _ ~ecured herrby shail be added together and the aggregate amount thereot shall be paid by the mortgagor each month i~ a single payment to be applied by the mortgagee to the [ollowing items in the order set forlh: fn prer..lum cherges aader the contract ot insurance with the Secretary o( Housing end L'rhan De~elopment, or moathly charge (in lieu ot mortgage insuranre premium), •s the case may be; ' (II) grocnd rents, taxes, asseasments, fire, and other hazard insurance premiums; qtl) interest on the note secured hereby; and Q1n amortisation of the principsl of soid note. Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the mortgagur prior to the due date of the next such payment, ccx~stitute an event of default under this r~ortgage. The mortgagee may collect a"fate charge" not to exceed two cents (2Q) for each dollar (Sl) of each payment more than fitteen, (1S) days in arrears to cover the exlra expense involved in handling delinquent payments. ~ 3. That if thc total of the payi~ents made by th~ mortgagar under (6) of paragraph 2 preceding shall exceed the amount of payme~ts actually made by the mottgagee, for gronnd 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. If, however, the monthly payments made by the mortgagor under (h) of paragraph 2 pre- ceding shall not be sufEicient to pay ground rents, taxes and assessments and insurance premiums. as the cese may be, when the same shall become due and payable. then the mortgegor shall pay to the mortgagee any amount necessary to meke up the deficiency, on a befoce the date when payment of suc6 ground rents. taxes, assessments, or insurance premiums shall be due. II at any time the mortgagor shall tender to the mortgagee in accotdat~ce with the provisions of the note secured hereby. full payment of the entire indebtedness represented theceby, the mort- gagee shall, in computing the amount of such indebtedness, credit to the account of the mortgagor all payments ioade under the provisions of (u) of paragraph 2 hereof which the mortgagee has not become obligated to peyto ~ the Secretary ot Housing and Urban Development and any balance remaining in the funds accumulated under the provisions of (bJ of said paragraph 2. lf there shal) be a default. under any oE the provisio~s of this mottg,ege, re- sulting in a public sale of the Qremises covered ~ereby. or if the moctgagee acquires the property otherwise atter defeult, the moctgagee shall apply. at the time of the commencement of such proceedings or at the time the prop- erty is othervvise acquired, the balence then remaining irt the funds accumulated under (6) of paragraph 2 preceding as a credit against the aaount of principal then remaining unpaid under said note and shall properlyadjust any paya:ents which shell have been made under (aJ of said pacegraph. . 4. That he wil! pay all taxes, assessments, water rates. and other governmental or municipel charges, fines, or impositions, Eor which pcovision has not been made hereinbefore, end in defeult thereof the mortgagee may pay the saaie; and that he wili promptly deliver the, o[ficial receipta therefor to the mortgagee. eooK168 ~ ~0 ~ ` _ ~ _ ~ _ - ~ , _ ~