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Home My WebLink About0215 ~ said matgagoc does hereby Eully aarcartt the title to said~land. and every p~rt thereof. end wiil detend the same ~ against the lawful claims of all persons whomscever. PROVIDED AL.WAYS. s~d these preseats are executed and delivered upon the fo;lowing conditions. to wit: ~ The moctgagoc agrees to pay the matgagee. a ocder, the princlpal sum of ~~Y~Qn 1W{i8~fali ~Y A~i~il~i8d YYM i~V/.i~Ms~w~~~~~N~~~~~~~~~~~w~~M~~~~~~~~~~• ~ Dollecs (S ~~$Qp.Qp as evidenced by a aote of even date herewith, with interest trom date at the ` rete of ai7[ per centum ( 6 9G) per anaum oa the unpaid balance f until peid. The said principel and intecest shall be peyable at.the office of gp~~t~ ~~~g~ ~ Co¦Qatpr, P~st OfPice Bou ?S0, Riveraide 8tstion, ki~i, l~lorids 33135 . o~ at~~ her pl~ es t~y hpl~r ~ c~~ uiaY designate in writing. in month~y installments of Ei and 100~~~t11__ i~ nollars cs 118. ~9 R.uT e. 71.P. o. commeacing o~ the first day of QCtpbe! . 19 ('j, end on tbe first day ot each month thereafter untilthepriacipal and interest ace fully paid. e:cept that the finel payment of principal aad interest, if not sooner paid. shall be due and payable on the first day of BCpt~beP~ 1~ ; And shall duly. promptly. and fully perform. discharge. execnte~ effect. complete. and comply with and abide by each and every the stipulations, agreements. conditioas. and covenents of said pcomissory note and of this modgage, then this mortgage and the estate hereby created shall cease and be null aad void. And the mortgagor f~het covenaats as follows: ~ 1. That he will pay the indebtedness, as hereiabefore provided. Privilege is resecved to pay the debt in whole, or i~ an aaauat equal to one a moce moathly payments oa the principal that are next due on the note. oa the first day of aay month prior to maturity: Provided. however. that written notice of an intention to exercise such privilege is given at least thidy (30) days prior to prepeyment; aad, pcovided further, that in the eveat the debt is paid Ia full prior to maturity and at that time it is insured under the provisions of the National Housing Act, he will pay to ~ the modgagee a~ edjusted pcemium charge of one per centum (1%) of the original principel amowt theteof, ezcept ! thet in no eveat shall the adjusted premium exceed the aggregate amount of 'premiam charges ~vhich would i~ave ~ been payable if the matgage had continued to be insured until matarity; such paymeat to be applied by the moct- gagee upoa its obligatioa to the Secretary of Housiag aad Urben Development on accouat of mortg,age insurance. 2. That, in order more fully to protect the security of this mortgage, the mort~agor, together aith, aad in addi- tion to, the monthly peyments under the_terms of the note secured heeeby, oa the Eirst day of each moath until t6e said note is fully peid, aiU pay to the mortgegee the follawiag sums: (o) An amount suEEflcieat to p~~i:.a ~s sa~a~ ~=~f r~a~ e~ Q.~ ~ ne:c monQ.~ ~.w.A~~ ~~~m .r ms~- u ment and the note sec~red herebr aro lnsured, or • montbly chuge (in lleu ot ~~anodQage inawaace premium) if fher ue held by the Secretar~ ot HausinQ and Urbaa Development. as toIIows: , (1) If and so loa~ as said note oi even date and this inawmeat are insnred or 4re reiasured unde~ the provisions ot the N~tional Housing Act. aa amount sutQcleat to accumulate in the hwds of t6e holder oae (1) month prior to its dne _ datc the ~onu~l mort~~e iaswaace premium, in order to provide wch Irolder ~rith tunds to pay sucb premium to the Secretarq ot Ho~siag and Urban Developmeat pursu~at to the Nation~l HousiaQ Act. as ameaded. ~ad applicable Regn- lations t}ierewider; or (In If and so lon~ as aaid note d even date and this insuument are beld by the Secretar~ of I1ousln~ and Urb~n Develop- ment. ~ monthly c6aree (in Ilea of ~ mortQa~e iasuraace premium) ~vhich shdl be in an amount equal to onrtwelfW (1/12) of one-6~1t (y~) per centom ot tbe average ontstandiag balaace due on t6e note com~wted without taking into ` acconnt dellaqnencies or prepaymeots: ~ (6) A sum eqnal to the ground rents, if anr. nezt due, plus t6e premiums that will neat become due and payable oa policies ~ ot fire and other hasard insurance covering tbe mortgaQed propert~, plos ta:es aad ~ssessments nest dne on the mort• ~ ; gaged property (aU as estimoted br the mortgaQee) less all sums olready paid thenEor divided br the number of moaths ~ to elapse betore one month prior to the d~te Ahen such a,wund rents. premiums, to:es, aad assesaments ~vill become de- , Linquent. suc6 sums to be 6eld br mortgaQee in trust to p~y said a,round rents. premiums. tues, aadspecialassessmeats; ~ aad ~ (c) All payments meatioaed in t6e two precedin~ subsections ot t6is pan~ap6 and all payments to be made ~mder the note secured herebr shall be added together wd the •gg~e~ate amount Wereot chall be paid by the mortgaQor e~eh moath ia a I single payment to be applied br the mort~agee to the tollo~viag items in the order set forth: (n premium ch~rQes aader tl~e conwct ot ins~u~nce wiffi We Secret~r~r of Housing and Urban Development. or moat6lr -,c6arge ~In liea of mortga~e insurance premium). aa H~e case m~y be; (Ip Qrovad rcnts, tazes. ~ssessments. fire, and other huud inswance premiums; . j (I~ iaterest on tbe note secured hereb~; ~nd ~ (IV) omortlsatioa of the prineiprl ot said nota j Aay deEiciency in the aawunt af soc6 aggregate moathly payment shall, unless made good by the matgagor ~ prior to the dne date of t!~ ae~ct snch peyment, constitute an event af defauit ui~Her this modgage. The modgagee ~ may collect a"lete charge" not to esceed two cents (2~) for each dollar (~1) of each paymeat moce than fifteen ; (15) days in anears to cover the extre eapease involved ia handling deliaqueM payments. ; 3. That iE the total of the payments mede by the matgagor under (6J of paragaaph 2 preceding shall eaceed the amount of payments actually made by the moctgagee, for ground cents, taxes and sssess~nents and insurance pcemiums, as the case may be, such e:cess s6a11 be ccedited by the mortgegee on subsequeat paymeats to be ~ made by the matgagor. If, ho~vever, t6e moathly peymeats made by the moctgagor under (6J of pasagraph 2 pre- ~ ceding shall aot be sufficient to pey grouad rents, taues and assessmants and insnrance premiums, as the case may be, ahen tbe same shall becane due end peyable, t6en the moctgagos sball pey to the mortgagee any amount necessary to make up the deficiency, oe a befoce tbe date when payment of such graurd cents, texes, assessments, ~ or insareace premiums shall be due. If at any time tLe moctgegor s6a11 teader to tbe mortgagee in accordance with ; the provisions d the note secured hereby, full peymeat of the eatire indebtedaess represented thereby, tlye nwd- ' gegee shall, in c~pntiag the amount af such iadebteda~ss, ccedit to the account of the mortgagor all paymeats , ~ made uader the pravisiaas of (a) d peragraph 2 hereoE ~vbich the matgagee has aot becbme obligsted to peyto the Secretary of Ha~siag and Urbsn Developmeat and any balaace reo6aining ia the tuads accumalated uader the provisions of (b) of said parag~aph 2. If there s6a11 be a default under eay of the provisions of this moctg,age, re- sultiag in a public sale of the premises covered hereby. oc if tbe mortge~ee acquires the propedy otheraise after default, the matgagee shall apply, at the time of tbe commencement oE such proceeding~s or et the time the prop- edy is othe~vvise acquired, the balaace thea remaining ia t6e fuads accumuleted tu~der (6) of paragcaph 2 preceding as a credit ag,siast the amouM of principel tben remaining unpaid uader said;Rote ead shell pcoperlyadjust aay payments which shall have been made under (a) of said pacagrapb. 4. That he will pay all taxes, essessments, water rates, end ether goveramental or muaicipal chuges, fines. ~ oc impo~itioas, for ~vhich pravisiaa has not been made hereiabefae. and in defeult thereaf the a~ortgagee may psy the same; and that he will pcomptly deliver the officiel receipts therefor to the moctg~agee. ~16'~ ~ ~ ~ o R , . _ _ amx168 - E ~ _ - - ~ w~ _