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Home My WebLink About1081 , ~ . 1 'i ~ i l ~ 1 1 ~ . : i. i , . , r . ~aid mortgagw does he~rbv fully warrant the ~it!e cu said la~d. ~na evrn• pa~t thereof, and ~vl1l d~fead the same ~qainst the laptul claims ot aIl persons Mhomsce~er. PROVWED ALI4AYS, and these presents are cxecuted ead deli~^ered upon the following ca~ditions. to wlt: TfiN fi1gH~0[~i~e o1VStH[UNDRBD ~~TY ANDr.Nth~e/i%ipal sum of ~ ~~~~~~~~~~`~M~~~~~~~~~r~~~~~~~ Dollars (S 10 ~ 1 SO.00 as e~ idenced by a note ot even date he~ewith, with interest irom date at the rate ot Six per ceMum 6 per anaum oa tUe unpaid balance until paid. The said principal and intecetat sha11 be payahle at the otfice of GSNERAL Q)ARANTY MORTGAGE COMPANY~ INC•, in Winter Park, Floric~?" ~ ~ or at such other place as the holder ot the nae may desigrtet~ in writin~~ in montaly instellments ot ' SIXTY-FIVS AND 47/1~0------------- Dullars (S 65.47 coe~a~encing oa the first dev of November . l9 67 . and on the first da~ of eacb mbnth tl~ereai'ter untllthepriacipel and interest are fully paid. excepf tbat fhe final payment of prin~ipal and interest. I[ not aoon~r paid. shall be due and pa~~able on the first dey of October,' 1992 : _ And shall dulv. promptly. and ~tully perlorn+. discharge. eaecute, effect. complete. and canply a?ith and abide by each and every the stipalationc; agreements, conditions. and covenants of said paais'sory aote and of this modgage, then this mortgage and the estate hereby cceated shall cease erid be null and void. And the mortgaga further covenants as follows: 1. That he will pay the indebtedness, as hereinbefore provided. P~ivilege is reserved to pay the debt in whole, or in an amount eqnal to one or moce monthly payments o~ the principal that are next due on the aote. on the tirst dey of any monih prior to maturity: ProriJ~d, howe~er. that written notice of an intention to exercise such privilege is given at least thirty (30) days ptior to prepeyment; and, provided further, that in the event the deM is paid in full prior to maturity and at that time it is insured under the provisions o[ the National Housiag Act. he ~rill pay to the mortgagee an bdjusted premium charge o( one per centum (1~.) ot the original principal a~oount thereof. except that in no event shall the adjusted premium exceed the aggregate amount o[ premium charges which ~vould have been payable if the mortgage had contibued to be insured until maturity; such payment to be applied by the mort- gagee upon its obligation to the Secretary• of Housing and Urban Development on account o[ matgage insurance. 2. That, in order more fully to protect the security of this mortgage. the mortgagor. together with. and in addi- tion to, the monthly payments under the terms of the note secured hereby, on the first day o[ each awnih until the said note is fully paid. will pay to•tl~e mortgagee the foltaving sums: (ai An smount suificient *.o provide the holder hrreol with funds to pay ihe next mortgage inaur~nce premium i( this instru- ~aent andthe note secured hereby are insured. ur a munthly charge 1in lieu oi a mortgage insurance premium) if they are held by ~he Secretarp of Housing and Urban Devt•looment, as tollowa: (I) It ond so long as said note ot e~en date ond this instn~meat ore insured w orc reinsured under the provisions ot the National Hou~ing Act, an amount suftic~ent te accumulate in the handg o[ t6e holder one (1) !nonth prior to its due date the annual mortgage insurance premium. in urdcr to pwvide such holder with funds to pay sucti Fremium to the Secreury of Hoasinp; and Urban Developnent pursuent to lhe N~tion~l liousing Act, aa amended, r~d applicable Regu- lations thcreunder: or (II) I( and so long as s~id rotr of even datr and this instwment arc held by the Secretary of Housing and Urban Deveiop- ment, a monthlp charqe (in lieu ot a mor~gage insunnce premium) which shsll be ia aa omount equal to one-twel[th (1: 12) ot one-halt (~7) per centum ot thr average outstanding b~l4nce dn~ on tbe note caaputed aithout taking into ~ccount delinquencies or prepaymchfts; (b) A aum equal to the Rround rents, iC any. next due, plus the premlums that ~vill aext become dne and payable on policies of [ire and other hszard insu~aace covering the mortgaged property. plua tazes and assessments next due on the mort- gaged property (all as estimated bp the murt~agerl less al! suros alreadr paid theretor divided by the number of montbs to elapse before one month ptior to the date when such ground reats, premiums. ta:es, and assessments will become de- G tinquenl, such sums to be held by mortga6ec ro trust to pay said ground reats, premiua?s, taYes, ond special assesaments; F and - . ' (c) All payments mentioned in the tavo preced~ng sutr~xections of this psragraph and all paymeata to be ~ade under the note ~ secured hereby shall be added together and :ke agg~egate imount thereot shall be paid by the mortgagor each month in a aiagle payment to be applied by the mortgagee to the tollo~ring items in the order set fwth: ~ (n premium charges under the coatract ot insurance w+ith the Secretary ot Housing and Urban Development, or monWly charge (in liea of mortgaRe insuraoce prem~uml, •s the case may be; (II) arouad renis, ta:es, assessmeats, tire, and other hasard insuraace premiums; (UI) Intereat on the note secured hereby; and ' (1~ amortisation ot the principol of said note. Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the mortgagor prior to the due date of the next such payment, constitute an event of default under this mortgage. The mortgagee may collect a"late charge" not to exceed two, cents (2t) tor, each dollar (Sl) of each peyment moce than fifteen (15) days in anearc to cover the extra eapense involved ia handling delinquent payments. 3. That if the total of the payments made by the mortgegor under (6J of paragreph 2 preceding shall exceed the amount of payments actually made by the moctgagee, for g~round rents.'taxes and assessments and insurence premiums. as the case may be, such excess shall be ccedited by the mortgagee on subsequent peyments to be made by the mortgagor. If, however, the monthly payments made by the mortgagor u~er (b~ of paragraph 2 pre- ceding shall not be sufficient to pay ground rents. taYes and assessm~~nts and insurance premiums, as the case may be, when the same shall becaae due and peyable, then the matgagor shall pay to the mortgagee any amount necessary to make up the deficiency, on or befoce~ the date when payment af such gcound rents,=texea, assessments. a insurance premiums shall be due. 'lf at any lime the mortgagor shalltender to the aadg,agee in accocdance aith the provisioas of the note secured hereby, full payment of the eotire iadebtedness cepresented thereby, the mod- gagee shall, in computing the amount of such indebtedaess, credit to the account of the mortgagor all payments made under the provisions of (u 1. of paragraph 2 heceoE which the mortgagee has not become ubligated to pey to the Secretary o[ Housing and Ucban Development and any balance remaining in the funds accumulated under the provisions of (LJ of said paragreph 2. If there shall be a default under any of the pcovisioas of this mortgage, re- sulting in a public sale of ihe premises r.overed ~ereby, or if _the mortgagee acquires the property othecwise aEter default, the mortgagee shall apply, at ihe t~me uf the comme~ement of such pcoceedings or at *_he time the prop- edy ia othetwise acqu'ued, the balaace then remaininq in the [unds accumulated ~~nder /6J of paragrapn 2 preceding as a credit against the amonat of prlncipel then retoaiaing unpaid under safd note aa~ shall Qroperlyadjust any payments which shall have been made under /a / of said paragraph. 4. That he arill pay all taxes, assessments. water rates, and other govetnmental or municipul charges, fines. or impositions, for which provision has not been made hereinbefoce, end in default thereof the mortgagee may pay the same; and that he will Promptly deliver tlre offlcial [eceipts therrfor to the mortgagee. i ~ WIJ~~~ P~E~O~ ~ s ,s _ - - v~