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Home My WebLink About0962 F ` ij~~? said matgaga does hereby fully wanaat the tItle to spid lu~d. aad every pad theceof, ond will defe~d the aame against the lawEul cLia?s oE all persoas whomsoever. ~ PROVIDED ALWAYS, and these pcesenb ue executed and delivered upoo the foUawia~ ca~dltioas, to ~rit: The matga~a ag~ees to poy the matgp~ee. a ader, tl~e pciacipal sum of Q~ j~~p ~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~w~~~~~w~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~w~~~~~~~~~~~• Dollars (s 1,5~1a0.00 as evideaced by a note vf even date herewith. plth iaterest from d~te at the rate of 83X per ceatum ( per aanus aa the uapoid balaace uatll paid. T!~ said pcincipal and iaterest ahall be p4yable at the office oE g~ ~ ~RY; pbst Odrlce Boo~ 750, Rivsrside, M3e4i, ~3rorid~? , 33735 . - oc at sucb,other place as the holder oE the aote may desigpate_in writing, in ~naaWly inst~Umeats cf l~iri0lai ~IId R/,ZW~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~r~~ ~O11YI8 ~~1~~V1I COIO0ICQC~ O~I tbe flrst day of PO~Y~ber 19 (7, and oa tbe first day of each c:~ath thereoftet uMlltbeprinclpal aad inteeest ace fnlly poid, except that.the final poymeat oE riacipal aad interest, If aot sooaer paid, shall be due aad payable on che first day of October~ Aad shall dnly, pramptly, aad fully perfacm, discharge. execute. effect. complete. and comply ~rith aod abide by each and everq the stipulatiaas. ag~eemeab, coaditiaas. and covenants of said p~omissoiy aote and of this mortgage, thea this matgage aad the estote heraby cnated s6a11 ce~se and be aull end void. Aed the aortgagoc fiuther covenaats as follows: l. That he will pay the iadebtedaess, as berainbefore pcavided. Priirilege is ceserved to pay tbe debt ia whole, or ia an amtwnt equal to one a moce moathly poyments oa the priacipal that are uext due oa the aote, oa the first day of any month prior to maturity: Provided, however, that arittea notlce of an intentioa to e:ercise ~uch privilege is given at least thirty (30) days prlor to prepayment; and. pravided fudher, that ia the eveat the debt is peid in fuU prioc to matudty and at that time it ia iasuced uader the provisioos of the Natioaal Housing Act. he will pay to the modgagee aa adjnsted premium c6arge of one ~er aeatum (1%) of the origiaal pcincipal amount theceof, ezcept - that ia no event shall the adjnsted pcemium e:ceed the egg,~egate amount of preminm cbar~es whic6 would 6ave been payable if the mortgage hed coatiaued to be iasured until matnritq; auch payaient to be applied by the mat- gagee upon its oblig~tion to the Secretary ~ Honsing and Urbaa Development an ac~couat cf aiat~age inseuance. 2. That. in order moce fally to protect the security of this mort~pge. the matgagor, together with, end in addi- tioa to, the ma,thiy paymencs uaaer che terms oE the nae secne~ed 1x~aby, oa the first day. aE each month natit the said note is fully paid, will pay to the matgagee the follawing snms: (a) M amouat sutTicieat to p:o~ide the 6oldlr hereo[ wlth fmds to pa~ the nezt mortp~e insnraace premiam if this inshw ment and the aote secured heceb~ are insurad. or • moathlr chu~e (ia llen of a moet~a~e iaaurance prcmium) if tLer ~re held bp the Secretar~ of Hwsie~ and Urbaa De~elopmeat. •s foIIo~rse (I) If and so loe~ ss said note o! even dat~ and t6ts insteument are ~asnred ar ~re reiasured ~mdee the peavIsiaas ot th~ Natioaal HousioQ Act. an amonnt snfticieat to ~ccumnl~te in tbe Lands oE tbe holder oae (1) mooth prior to it~ dae date t6e aanual mort~aQe lnsnr~nct premtum. in order to pwvide sncb holder -wit6 tuods tb po~ such presium to t6e Secsetar~ oI Housin~ and Ueb~n Developmmt pursuant to the N~tional Honsia~ Act, as amendad, and appllc~ble Rean- l~tions tbere~mder. or (In Q aad so lon~ ~s said aote d even date and tbis instrnoeat ~re held b~ tbe Secretar~ ot HousleK ~nd U:ban De~elop- * meny a~noat6l~ cb~e~e (in lien ot ~ mort~e insurance premium) w6icL shall bs in aw amouat equal to ono-tweitth (I/lZ) ot one-halt (yS) per cenWs of the a~era~e o~st~adlna b~lance d~ee on ffie note cooputed without takina into ~ccow~t deliaquenctes or prepa~lmeots; (bJ A snm eqtisl to the a,n,wmd ernts, if ~a~. aert ~e. plns tbe preminms that will nen become due and p~yable oa policies I of tlre and other 6as~rd insnr~nce coveria~ tbe moet~a~ed propert~, ploa Wces ~nd asses~ments nert due on ffi! mort- ga~ed pwpe~ty (~ll ~s estis~ted b~ the ~ort~~ee) less all anms a.Lread:paid therelor-di~tded b~ tbe nwnber ot months to elapse befote oae montb prior to the d~te wbea ~uc6 ~ound rents, preml'nms. ta=es, -and assessments will become de- Ilnquent. snch snms to be held b~ mort~a~ee ia trnst to p~~ s~Id ~ronnd rents, premiums. t~es, aadspecLlassessments; aad . (eJ All payments meatloaed ia tbe two-preceding subsecttQaa oE ti~s p~e~eap6~nd all p~ymrnU to be m~de mder the note secured hereby shall be addetf to~etber ~e?d tbe a~e~~te ~monnt tliereoi ~oU be paid br t6e mortQa~or e~ch month in • sin~le papment to be applied by ffie mort~a~ee to We follo~rin~ itaas in ffie order set [ortb: - (n premium ch~rQes undei thE contnc~,Dt la~Onace witb 1be Sect+tapr o[ Hoada~ ~ad Urb~e? Development, or nanthly c6aree (in lien of mort~a~e insnrance preoium). as tl~e case may be; (In Qround rents. tues, assessments, fire. aad otber hasard insw~nce prsm~ms~ ~ (Im interest on"the note secue~ed btr~b7?:~ed . ~ - . . _ _ - . . (IV) ~mortlsattoo ot d~e princip~l oE said not~. Any deficiency in the amouat .oE such aggreg,ate monthlq paymeat shall, uales~ ~ade good by the mortgagor prior to the due date of the aest snch payment, coostltntE an event af defeulf nnder this matgage. The moetgagee may collect a"late chacge" abt to e~ceed two ceats ~2~).fa eac6 dollar (;1) of each paymeat more then fifteen (IS) days in arresrs to cover tbe eRtra ezpense involv~ed in 6andlin6:deliequent payments. 3. That if the total of t6e peyrneats a~de by ~he m~tgagac nnder (b~ of_pecagraph ~2 preceding sball e:ceed the amount af peyments actnaUy mad~ by tbe mortgagee; fa g~ound renta, ta~ces aad assessmeats and insuceace ~ premiums, as the case may be, snch ezcess sbell be credited by the mortgagee on sabsequent peyments to be made by the moctgagoc. If, hawevec, the moathlY PoYments made by t6e matgagoc under (b) of paragreph 2 pre- ceding shsll aot be sufficient to pey grarnd rents, tazes and assessmaats and insurance premiums, as the case may, be, phea the same-shall become due and poyeble. theu the matg~goc shall poy to the matgegee aay amount necessary to make np the deficiency, on a befae the date ~vhen psymeat of anch g~raud nnts, taxes, assessments, as iusurance preminms s6s11 be dne. If at any time the matgago~ shallt~ader to the mortgagee ia accordaoce with the proviaions of the note sxnred hereby, fnll poyment of tbe e~ire iadebtednesa represented thereby, the mod- gagee shall, in compnting the ~amount ef snc6 indebtedness, credit ta t6e acconat of tLe mo~tgagor all paymeats made nader the psavisioas oE (aJ af pnragcaph 2 beceaf which the oectg,s~ee has aot become eblig,nted to pay to the Seccetary of Housing and Urban Development aad any belance remainiag in tbe fuads accumulated under the pcovisio~is of (6J d said paragraph 2. IE there shall be a default nnder any af tbe pcovisions of tbis matg,age, re- sulting ia a pnblic sale of the premises covered hereby. oc if the matgag~ee ~cquices the property dhetvvise aftec default, the matgagee shall apply, at the time af tbe co~eacemeat of sach proceedings o~ at the time the prop- erty is othenvise acqnired, t6e belance t6ea remaining in the fnnds aecumulated under (6) of P~S~P~ 2 P~~~B as o credit ag~ainst the amouat o~prlncipal tl~ea rcmaiaiag unpa~d under said ~ote and shall pcoperlyadjust any PoY~nts whic6 sha~l have beL~ mode undec (a)`aE said P~B~Pb• ' 4. Tbat he wiU pay aU taxes, essessarenfs, water rates, and dher governaKntol or mnnicipel char6es, fiaes, ac impositioos, for whic6 pcavisian has aot beea made luceinbefae, and in defeult tl~ereaf tlx mortgagee may pay the seme; and that he will promptlq deliver tbe affictal receipts tl~eceEor to tl~e mat~agee. . ~ ~ ~_,1 . ~ 4 " _ _ :.~S . . . . . _ ~ _ . . _ _ ~ '