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HomeMy WebLinkAbout1133 ' • • ' ~ ~S~ • i. ~ 1 `f~ . _ said matgago~ does hereby fully wacrant the title to said t$ad. and every part thereot. snd wilt detend the saare against the laarful claims of all pecsoas whomsoever. PROVIDED ALWAYS, and these presents are executed and delivered upoa the followin~ conditions, to wit: The matgagoc ag~rees to pey the matgegee. or ocder. the pric~ipal sura of Ten Thausand Sigbt ~uWred e~ad.Fo~100-------•------------•-------------•----•-------- Dollacs (s10~800.00 ~as evidenced by a note of evea date herevvith. aith Interesi from date et the ~tQ ~ S3X per centwa ( 6 X) pet annum oa the uapeid balance until paid. The said principel and interest shali be payable at the office of ATICO FII~ANCIAL C~tP'~ATI~1~ Pbat Oftice Aoz 3131, l~tiand.s Flarida ~ . c;s at such other ptace a the 6older of the note may desig,~ate in wdtin . ia monthly installments of $i~cty-lo4u' aIId 80~100-••---••-----------•-Dollars (s 80 ) commeacing on . . tbe first day of AOV~embel" . 19 f 7, and oa the fint day of eac6 month tbereaftec until the principal and iatecest ace fully paid. except tbat th~ final paymant oi principal and iaterest, if not sooner paid. shall be due and payable on the first doy of OCtAbel~ 1~ ; And shall du1y~ ptomptly, and fully pedorm~ discharge~ execute. effect. complete~ and comply with and abide by each and every the stipulations, agceements. coaditians. aad coveaaats of said promissory note and of this modgage, theA this mo~tgege and the estate hereby cceated sball cease and be null and void. Aad the mortgegor furtu-r coveaants as follows: - 1. That he will pay the indebtedness. as hereinbefare provided. Priirilege is reserved to pay the debt~ in whole, oc in an amouat equal to one a moce monthly paymeats va the priacipel that are next due o~ the note. on the first day of any moath prior to matucity: Provided, hoaever, that written notice of an intention to exercise such privilege is giveu at least thirty (30) days priar to prepayment; and. ptovided iucther. that in the event the debt is Qald in full priot to matudty•aad at that time it is insared under the provisions of the National Housing Act. he will pay to the mortgagee an adjusted premium charge of one per centum (19i) of the original principel amount thereof. except that in no event shall the adjuated premium exceed the aggcegste amount of premium charges which would have beea payable if the matgage hed continged to be insured ~ntil metaritq; stich payment to be applied by the mort- gegee upoa its obligatioa to the Seceetery of Housing and Urbaa Developaent aa accouat of mortgage insiuance. 2. That. in order more fully to pratxt the security of this matgage. the mortgagor, together with. and ia addi- tion to, the moathly psyments uader the tecros of the ~ote secured heceby, on the first day of each month nntil the said aote is fully peid. will pay to the mortgagee the follo~wIng s~ms: _ . (a) Aa amoant sufticient to provlde t6e holder hereot wit6 funds to par the ne:t mortQaQe insuraace premium if this LasW- ment andtLe aote secured herebr ue insured. or • monthly ehu~e (in Ilen ot a mortQage iasurance premlum) it theq are beld bp the Secretary of Hwsi~ and Urbaa Development, ~s foUows: (I) U and so loa~ as sald note of eveo date and this inswment ~re insnred ar ~re relasurcd unde* the pwvisions ot We Notioaal Honsin~ Act. an ~mount snfticient to accumul~te In tLe handa of the bolder oae (1) moat6 prior to its due d~te the amu~l mort~age laswance premium, ia order to provide such holder with [unds to por snchpremium to the Secretar~ of Housing ~ud Urb~a Development pnrsuant to tLe Natipad Honsinz Act; as amended, and applicable Ra¢u- Iations thereuader; or (ih It and so lona as said note af even date ~nd thts iasteumeat are held bp the Secret~rr of Housing and Urb~n Develop- ti mea~ a monthlr cbar~e (ia lien of a mort~Qe inaarance premium) which aball be in aa saannt aqual to onrtwrelEth (1/12) of oae-6al[ (y~ per centam of the ~veraQe outstoedia~ balroce due on t6e note compated ~vitbout tating iato acconnt delinqnencles or pcepaymedts; ; (6) A snm equal to the ~romd rents, it anr. ne:t due. plus_the premiuss t6at will nen become due and p~rable oa policies ~ ; of fire and otber hu~rd insaraace coverina the mortg~acd propert~, plus ta:es and assessmeats nezt due on the mort- ` g~Qed property (~U as estimated bp the mortQaeee) less all sums aiceadp paid Weretor divided by the number o[ mont6s f to el~pse betore ooe mantb prior to the date wrhen auch atound rents, premiams. ta:es, aad assesameats will become t!e- G linquent. such sams to lfe held by morteaQee In trust to par said groand reets. piemiums. tues, ~ndspecLlassessmeats; . aod ' (c) All parments meatloned ia the tao precediaQ subsectioas ot this p~ra~aph and all paymeats to be made under t6e note aecared hereb~ ahall be ~dded to~tber aad the aQgFe~~te ~mouel tl~ereot shall be p~id bp t6e mortQa~os each moath in a single p~~ment to be applied by t6e awrtgaQee to the followiag Items tn We order set forth: (n premiam cMraes mder the contr~ct o[ .iaswaace ~vith t6e SecretarT of Honsin~ and Urban Development~ or moathly charQe (in llen o[ mort~a~e insur~nce preminm). as tLe~ case may be; Qrouad rents, tues, assessments, fise, and other h~z~rd insurance prealums; (Iin interest on We note secured hereby; and (IV) amortis~tion o[ tUe prij~cipal oE said note. - _ ' Aay deficieacy ia the amount af such aggcegate monthly paya~eat shall. unless made good by the matgagor prior to the due date oE the nezt such paymen~, coastitute aa event d defeult under Wis moctgege. The modgagee may collect a"late charge" not to ezceed two cents (2R) for eac6 dollar (Sl) of each peyment moce th~a fifteen (IS) deys in arcears to cover the eztra ezpense involved in handling delinqueat payments. 3. That if the totel of the peyments made by the mortgsgor undec (b) oE paragtaph 2 precediag shall exceed the amouat af payments actually made by the matgegee, fa g~awd rents. taxes and assessments and insucance pcemiums, as the case may be. socli excess s6all be ccedited by the mortg~agee oa subseqnent pe'~ments to be made by the mortg,egor. 1f, hoaever, the montbly paymeats made by t6e matgagor adec (b) of paragrsph 2 pre- ceding shall not be sufficient to pay ~round rents, taxes and assessmants and iasuraace pcemiums, as the case may be, ahea the seme shall become due and payable, thea the mortgagor shall pay to the ~octgagee aay amaint necessary to make up tLe deficieacy, on a befae tbe date when p~yment of snc6 ground rents, tozes, ~ssessmeats, or insorance premiWOS shall be dne. ~f at aaq tioe the matgagac shall teeder to the mortgagee in ~cordance with the provisioos of the note secnred beceby, full paymeat of tbe eatire indebtedness represented thereby, tbe mort- gagee shall, in computiag the amoant af such indebtedaess, credit to the account d the oartgegor all payments made under the prarisioas of (aJ cf paragcepTi 2 hereof which tbe matgagee bas not become obligated to peyto the Secretary of Honsing and Utban Developmen! and any balance remainiog in the funds accumnlated neder the provisions d(b) of said paragraph 2. If there shall be a default »nder any of tbe prasrisioaa of this mortg,age, re- sulting in a public sale of t6e premises covered _xreby, oc if tbe matga~ee ac9uires the PropertY othenvise after default, the moctgagee shall apply, at the time of the commenceoeat of s~h proceediagas os st the time the prap- erty ia otherwiae acquired, the balance tLetl remaiAing ia_ the fw~da aocamnlated nnder (6J of paragraph 2 PTecedin6 as a credit a~,aiast the amonat af pcincipol tbea remainiag nnp~Id uader said aate and shall pcoperlyadjust any paYwents which shall have baea made' under (a) af said pacag~pli. - 4. That be wiU poy all taxes, asseasmeats, water rotes, and ather govauocatal a municipal charges, fines, or impositioos. for which pcavisiaa has not beea made beceiqbefae, and ia default thereaf the mortgegee may pay the same; and that he will pcomPtly deliver tbe dficial receipf'"s tbetefor to the mottgragee. ; ~3 ~~,b8 ~1130 ~ ~ . . - . ----^--z-= ._:..r.:~.~..~-sx-~s - ~ . ._y.~: s.':: . ..:F:3 .