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Home My WebLink About1176 Docu~~utar~ sta~s in th• a~ount or ~20.?,S attix~i to a~nd canc~ll~d an oria3n~~, t_ ~p • 49~-OSS7~D4-+~22 , T~~~_ , seid moctgagor does hereby fully warraat the title to sQid laAd, and evecy paK the~eof. and wil! defend the same against the lawtul claims of all persoas whomsoever. PROVIDED ALWAYS, pnd these preseats are exeautad aad delivared upon the following coaditioas, to ~rit: The matgaga agFees to pey the mortgagee. a order. the princlpal sum oi . ?NIR'i7~N ~HOUS~AIID FIYa ~UI~ A1TD lp/100 ~ ~ ~ ~ ~ - ~ - ~ ~ ~ ~ • Dollars (S t3~~~Q~ as evtdenced by a note of even date herewith. wlth Interest froa date at the rete of ~ per ceatum per aaaum 'ou tbe aapoid balaace antil paid. Tbe aaid priacipal and intecest shall be payable at the offke of J. I• iIS1.A[ i~lC~C~ C~O~?TIOiI ~ 1R4RIDA oc at suc6 other ~1 ce~. a~e ho~ld aote~ p y c~esignate ia arciting~ in moathly installments of EI(~1T Oi~ 111D ~~100 Dollars (S $1 •00 ` commeaciag oa the first day of Xo~e~b~2' , 1~'j , aad on the first day of each moath thereafte~ w?ttlli:a~ pciacip~l a~d intenst are fnlly peid, exce,pt that.tl~e fiewl paymeat of priacipal and iatecest. if not soonec paid, s6a11 be due aad peyable on the first day of pOtObl~~ 1~'f ; Aad shall duly. promptly, aad fully pedocm, discharge, execute, effect. complete, aad comply with ead abide by each aAd every the stipulatioas. agcee~oeats, coaditioas, and coveaaats of said pcanissoiy aote and of this mortgage. thea this mortgage and the estate hereby cceated shall cease and be ault and void. And the matgago~ fuether coveaaats as foltows: 1. That 6e wili pay the iadebtedaess, as hereiabefore provided. Priirilege is reserved to pay the debt in whole, or in an aaiount equal to one or mae moathly peyments oa the priacipal tbat are ncxt due on the note. on the flrst day of eny moat6.prior to moturity: Provided. hopever. that ~ritten notice of aa iateation to eiercise such privilege is givea at least thirty (30) days prioc to prepaymeat; and, pravided further. tf~at in the eveat t6e debt is paid ia full prior to matucity and at that {`i'Ae it is,iasured uader the provisions of the National Housing Act, he will psy to t6e moctgegee an sdjasted preminm charge of orie per centum (196) of the odginel prin~ipal amount thereof, e:cept that in no eveat shall the adjusted premiwn eYCeed the aggregate amount of premium charges which wonld have been payable if the mortgage had continued to be iasured uatil maturity; such p~yn~eat to be ~pplied by the mort- gagee upoa its oblig,stioa to the Secretary of Housing and Urb~n Developmeat oa accouat ~ mort~ge iasurance. . 2. That. Ia order more fully to protect We secasity of tLis mortgage, tbe mortgagor, together with, and in addi• tion to, the m+oatbly payn~eats under the terms of the note secured hereby, on the Eirst day of each nwnth until the said note is fully paid, wiU pay to the moctgagee the follawiag sums: ~ (01 M awouat sutticient to provide ffie holder heeeot ~vitb [unds to par t6e ae:t mort~age iasunnce premium i[ this iaatru- matt +mdthe note secuced haebr are insured. or a monthl~ cbuge (in ileu of ~ mort~age iasuraace premium) it ther are held br the Seceetae~ of Housio~ and Urb~a Development, ~s follo~rs: (I) If +~nd so loag as s~id aote o[ even date apd tLis instrument pee insured or aro relasured under the provisions o[ We N~tion~l Elousia~ Act. an amount su[[icieat to accumulate la tbe hands ot tbe holder one (1) moat6 prior to its due date the aanual mortea~e inawaace premium. in order to pwvide such bolder ~?it6 tueds to p~y sucb peeaunm to tbe Secretu~ of Hausing and Urb~n Develepment pnrsnaat to th~ Nationai HousinQ Act. as amended, ~nd appiicablc Rt~n- l~tians fberenader; or (In If ~ad so IoaQ o• said aote d evtn date u~d t6i• Ltstenmeat are held by tht Secretary ot Housin~ ~nd U~a Develop- ` meat, a monthtr charge (in tieu of a mort~e tasurnnce premtum) wLich ~hal! be fa an amount eqwl to one-twelftlt (1/12) of one-hdt per centnm o[ the average ontsW~ding bal~ncc dqe on the note computed ~aitbout takin~ iato account deliuqueocies or prep~ymeds; (6) A sum equ~l to the ground rents, if wy. ae:t due. pias the prcmiums that ~vill eezt become ~e aad p~rable oo poiicies ot Gre and otLer basard insurance coverinq tbe mo~~~ed property, plus tq:es apd assessments oe:t due on t6e mort- e~~cd pwpeet~ (aII aa estimated b~r tLe mortgaQee) less ~11 sums ~lreadp paid Weretot divided by the eumber of monWs to elapse be[oce one mmt6 pHor to the date wr6ea such ~nd reats, preminms, t~:es, ~ad ~ssessments w;Il become de• linqueat, sucL sums to be heid br mort~~Qee in tmst to p~r uid ~amd reats, premlums, t~es. and speeial ~ssessmeats; aad _(e) Alt paymentt meaUoaed ia tLe t~vo preceding sabsections o[ thIs para~aph ~d all parments to be made under the eote secured hereb~ shall be added together ond t6e •ggre~ate amount thereot shall be paid b~ the mortQa~or e~ch moath ia • single payment to be applied br the mort;agee to We [olloaina Items ia t6e order aet Eorth: - (n premium clurges under t6e contract at iasurance ~vlth the Secretssp o[ Housiag and Urb~n Derelopment, or moathly charge (ia lieu of mortgaae iaaaraace premium)~ ¦s the case ma~ be; (II) eroand rcnts. taxes. assessmeats, Cue, and ot6er hasud insurance premiums; (I~ interest oa the aote secured 6ercby; aad , amort~atioa of the prLxip~l of s~id note. Any deficieacy in t6e amouat af snch aggregate monthly paymeat shall, unless made good by the matgagor prior to the due dat~ of the next such peymeat, coostit~e an event af default under this mortgage. The mortgagee may collect a"late charge" not to esceed two ceats (2~) for each dollar (=1) of each peymeat mae than fifteen (15) days in arrears to. cover the extra expense involved ia handling deliaqnent payments. - ~ 3. Tbet if the total of the paymeats made bq the moctgagor nndec (6) of paragraph 2 pceceding shall e:ceed ~ the amouat of paymeats actually made by the moctgagee, for ground cents, tases and assessments and insurance premiums~ as the case may be. such excess s6a11 be credited by the mortgag~e on subsequent peyments to be made 6y the moctgegor. If, ho~vever, the monthly peymeats made by tbe mortgagor u~er (b) of paragrepb 2 pre- ceding shell Qot be safficient to pey ground rents, taxes and assessmants and insurance premiums, as the case may be, whea the same shall become due and payable, thea the martgaga shall pay to the mortgagee any ama~nt . necessary to meke np the deficiency, oa a befae the date ~rhen paymeat of suc6 ground reats, texes, assessments, or iasurance pcemiums shall be due. IE at any time the moctgagor shell tender to the mortgegee ia accordance with the provisions of the note secared herebq, full payment o~ the entire indebtedaess represented therebq, tf~e mort- gagee shall, in comQoting the amount of such indebtedness, credit to the acconnt ~ the matgagor all p~ymeats made under the pcovisions of (a) of paragreph 2 hereaf which the matgagea has not become obligated to peyto the Secretary oE Housiag and Ucbaa Developmeat aad anq betance remaiaing in the funds accumulated under the provisions of (bJ of said paragcapb 2. If there shall be e default w~der aay af tbe pcovisions of this moctgage, re- sultiag ia a public sale of the premises covered :iereby, a if the matgagee acquires the propedy otherwise after i default, the matgagee shall apply, at the time of tbe comcneacement of such proceeding,s or at the time the prop- ecty ls dherwlse ac:quired, the belance then remaining ia The fnnds accumuIated uader (b) of para8zeph 2 precediag ; ss a credit against the amount af pcincipot t6en remaieing uepaid un~ler saed aote and shall properlyadjnst aay ~ peyaients whkb shal! l~ve been osde nnder (a) of said paragtrph. . ~ 4. That he wiil poy all taxes, ass~e~sments, ~rater rates, aed at6et governmental a mnnicipal charges~ finea, ; a impositions, for whicb pravisian has not been made he~einbefoce, and in default theceaf the mortgagee may pay i tbe seme; and that he will pranptly deliver the ofEicial e~eceipts t6ersfor to tt~e mortg,sgee. ~ ~ f I ' C~ ~0~~68 ~i~73 ~ , ~ - - - ~~:ti . - .