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said moKgaga does hereby fully warraat the tltle to said laad. and every part thereof. and wil! defend the same.
against the lawful claias af all persoas wboms~oever.
PROViDED AL.NAYS~ aad theae presents are executed Qad dellveced upon the follawing coadltions. to wit:
The mortgagor eg~ee~ to pay the matgagee. o~ order. the prL~cipal su~s of ~
Niae Thousand Three HUtndred lrilty and Zio~100-~~~~~~~•~•~~~~~•~~~~~••~•~~~•~•~•w~~~~~~
no~~a~s (t 9,350•~ as evldenced by a aote pE even date hanwith. with lAterest from dete at the
~~@ ~ i3Z per centu~o 6%) pec anaum on the uapaid balence
uatil paid. The said princlpal and iaterest shall be payable at tl~e oKice of
ATICO FIItAi~cIAL caRPa~iATloa~, P. 0. Eoz 3i31, Miami, Floriaa
oc at such othe~ place as the holder of the=et =may desigaate in wrltiag. in monthly installments of
Fi!'ty+~81]c a=ld 10~100- Dollars (S 56.10 ~ commencing on
the first day of AOVQalb9r . 196'l , and o~ ibe first day ot each moatb theceafte~ until t6e principal
and interest ace fully paid. except that the Iinal payment of princlpal aad interest, if not sooner paid, shall be due
aad poyabk an the flrst day of OCtObers 1~ : .
And_shall duly. pcomptly. and fully pedorm. discharge. e:ecnte. eEfect, complete. and comply with and abide
by each aad every the stipulations. ag~reements~ conditions, aad coveaants of said promissory note and of this
mo~tgage. thea this matgage aad the estate hereby created ahall cease aad be null and void.
Aad the mortgagoc further coveaaats as follonvs:
1. That he ~vill pay the indebtedness. as hereinbefore provided. Privilege is reserved to pay tbe debt in whole~
or in aa amount equal to one a mae monthly paya~ents oa We pdacipel tbat ere aext due oa the note. oe the Eirst
day of any month priar to maturity: ProvileJ, however. that written notice of an iateation to exercise such privtlege
is given at least thirty (30) days prioc to prepayment; and, pravided further, that in the event the debt is paid ia
full prlor to maturity aad a! that time it is insured under the pravisions of the National Housiag Act, he will pey to
the mortgagee an adjusted premium charge of one per centum (1%) of the ociginal principel amount thereot~ except
that in ac eveat shall the adjusted premium exceed the aggregate enwuat of premium chatges which would have
been payable if the matgage 6ad continued to be insured until maturity; such p~yment to be applied by the ~aod-
gagee upon its obligatioa to the Seccetary of Housing and Urban Deve2opmeat oa accouat of matg,sge insurance.
2. That. in order moce fully to protect the secwity of this mortg~age, the mortgagor, together ~vith, and in addi-
tion to. the moathly paymeats uader the terms of We aote secur~d hereby, oa the first day of each nwnth until the
said aote is Eully peid,-will pay to the matgagee the follaaviag sums: :
(o) An amount sulYicient to pwvide the 6olde~ heicot ~viti~ [nnds to pa~ tbe oert mortQaQe ins~vaace premium if tLis instru-
ment ~nd t6e aote secured beneby are insared, or r monthly charge (in Iien of a mort~Qe insuranee premlum) it they are
held bp tbe Secretary oE Honsins ~nd Urbsn Developmeat. as [ollowa:
(n It aad so loa~ as aaid aote o[ evea date aad this iastrument ue insnted or ~re reinsnred nader tt~e provisioas of the
National Housina Act. aa ~monnt sniRcient to accumul~te la the h~nds oE the bolder oee (1) moeth prior to its due
date the annuai mart~a~e insnrance preminm. in order to pwvide such holder witb fi~ads to phr snchpreminm to ffie
Seccetarp ot Housiag and Urb+n Developmeat pursuant to the I~I~tloo~l Hoaait~ Aet; as aeaaded. and ~pplicsble Reeu-
lotions theeeander. or
(In U aad so IonR as said aote d evea date and this iastnwmeat are heid by tbs SecretarT ot Hensiu` ~od Urb~n Develop-
~ ment. a monthl~ charse (ia lien of s mortea~e iasurance premiua) w6teb s6~il be ia m amount equd to one-h?elfW
(1/12) of onc-balt (~/i) per ceatum o[ tbe average ontsuadina balance dne on the note computed witbout tatiuQ iato
account delinqueacles or pepaymeuts;
(6) A sum eqn~l to the ~oood reetc. if aar. nen due. plns the p~emiums tb~t will oert become due aad payable on potlcies ~
of fire ~nd otAer h~sard inanra~e covcrin~ tbe mort~oQed pwpertp. plns tues aad assessments nert due oa the mort-
gaQed propert~ (~11 as estim~ted b~ the mort~aeee) lcss all sums alread~ pald t6erefor divided by We aamber of aonths
' to elapse betoro oae mant6 prior to the d~te ahen suc6 ~,wnad rents, premiuos. tases. and assessmeats wrill become t!e-
Iinquent, such sums to be held br maR~aQee in trust to p~y said ~ eents, premL~ms, t~ces, and special ossessmeats;
aad
(e) AII payments mmtloaed in the two precedine subsections o[ this pan~raph ~nd ~11 pa7ments to be made under the note
aecured he~ebr shall be ~dded toQether ~ad the ~~e~ate amonnt theceot shall be paid br the mortQa~or e~ch moat6 in ~
' siaale pa~ment to be applied b~ t6e mortg~~ee to the followin~ items ia tbe u?der set fortb:
: premiom chuQes under tl~e contr~ct of insurance wiW t6e Secretar~ oE HoasiuQ aad Urban Development, or moathlr
chae~e (in lieu ot mort~~ge ins~ance premium). ¦s the case ma~ be;
~ Q,round rents, tazes. assessmeats, Qre. and other hasud lasuraace pceminms: • ,
(1In lnterest oo the note secured 6eieb~; and
(I~ amortis~tion ot t6e prlocipl of said note.
Aay deficiency in the amount af such. aggregate moathly peyment shall, nnless made good by the matgagoc
prior to t6e due date ~ the next ~such paymant, caqstitute an eveat of defauh under this moctgage. The modgagee
may collect a"late charge" not to exceed two ceats (2~) fa each doller (Sl) of eac6 peyment moce than fifteen
(15) days ia arcears to cover tLe eitra espense involved in handling delinqueat payments.
3. T6at if the total of the peyments made by the moetgaga nnder _(b) of para~aph 2 preceding shall eaceed
the amouat of peymeats actually made by the mortgagee. foc g~ouad rents, taxes and assessments and insurance
premiums, as the case may be, such excess shall be credited by tbe mortgagee oa subsequent payments to be
made by the mortgagor. If. however, ~ monthlY paYmeats made by tLe moctgaga nnda (bj of. paragraph 2 pre-
ceding shall aot be sufficient to pay gronnd rents, and essessm~nts and iasnrance pcemiums, as tl~e case
may be, when the same shall become dne and ppyable, then t6e moctgegoc sball pay to the mortgagee any amount
necessary to maloe npi tbe deficieacy, oa a befae tbe date ahee p~yoent oE sncb ecound rtnts, ta~ces, assessmeats.
oc insurance premi~ms sLall be due. If at any time tbe a~octg,agoc shall teader to tbe mortQ,a,a~ee in accocdance witb
the pcovisioas of the ade securcd hereby, fnll peyment of the eatue indebtedness repc~sented theceby. the mort-
g,agee shall, in comQntiag the amount af snch iadebtedness, credit to tbe aoconnt af tLe moitgagoc all peyments
m~de undec the pravisiaos of (aJ aE paragFaph 2 hereaf which tbe matgagee bes not becoae obligated to pay to
the Secretary oE Hausiag and Ucbsn Development aad any balance remaining In the funds accumuloted under the
provisioas af (bJ aE said pacagFaQh 2. If then shall be s deEanlt nsdet any d the pravisloas of this matg~age, ce-
sulting ia ~ public sale uf the premises covered ~ereby, a if the matgag~ee acqaires the pcoperty othenvise afta
default, the matgagee s6n11 apply, at tbe time of the commencemeat of snch pcoceedin~s oc at the time the pro~
erty is ot6envise acquired, the b~lanoe tbea nmaining in ~e fneds aocnmuLted nnd4c (6) of Para~aP~ Z P~~~B
as a credit a~,siast the a~oormt of pcinclpel then remaiaing mpaid onder said aote and shall pcoperly adjust any
P~Y~nts Nrhich sboll bwe beea ~de w~dec (a) oE said.para~caph.:
4. That be wiU poy aU taxes. assessments, ~vater cates, and dher gavernmentel oc municipal charges, fines.
or impositioas, for which pravisiaa 6ats not been made hereinbefae, and in default tbereaf the m~tgagee maY PoY
t6e s4me; and that he will promptly deliver the official receipts tbesefor to the matg~gee.
~1~8 ~ 860
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