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' seid matgaga does heceby tully wa~raat the title to aoid laad, aad evecy paet thereof~ 4ad w;ll defead the saaie
agatast the la~vful clalms of all persoas whomsoever.
PROVIDED ALNAYS. and tErese preseab are executcd and delivered u~oa the followiag cvaditloas. to wit: ~
T6e matgagac ag~ees to poy tbe matgages. a order. tbe prlnclpal aum of
NINS ~USAND SIX HUNDRB~ FIFTY AND NO/100---------------------------
~1~~ (i 9, 650.00 as evideacal by • aote af evea d~te here~rith. with interest from date at the
~te ~ Six per ctntum ( 6 per aanua~ oa tbe uapeid balance
until paid. The said priacipal and iatecest shall be p4yable at the office of
GBN}'sRAL QJARANTY MOR1'GAGE O~MPANY, INC., in Winter Paack, Florida
or at such dher place as the holdec of t6e note may desi~ate in wNting. Ia monthly instaliments of
FIFTY-SBVffi~T AND 90/100------------- Dollacs (t 57.90 coma~ncing a?
the first day oE Novembe= , 19 67, and on the flrst day of each moath thereaftee uatil the pcincipal
and interest are fnlly paid. except tbat the final paymeat of principal aad interest. if aot aooner paid. shall be due
aad poyable ua tl~e ficst day of October , 1997 ;
And slwll duly. prc~nptly. and tully pedorm. discharge~ execute. eifect. complete~ and comply with and abide
by each aad every the stipulatioas, agreementa, conditians. and caveaaats of said pranissory aote aad of this
a~ortgage, then this mortgage aad the estate hereby cceated shall cease snd be nall and void.
Aad the martgagor further coveaaats as follows:
1. That 6e ~vill pay the indebtedaess, as dereinbefare pcovlded. Pri~?ilege is reserved to pey the debt ia ~vhole,
o~ ia an amouat equal to one a mae menthly peyments oa the principal Wat are next due on the note. on the first
day of any month pcior to maturity: Provided, howevec. that writtert notke of aa iatentian to e:ercise such privilege
is givea at least thirty (30) days prioc to prepaya~ent; and, pcavided fwther, that ia th~ eveat the debt is paid ia
fnll prior to maturity aad at thet time it is insuced uader the provlsions of the Natioaal Housing Act, he will pay to
the modgsgee an adjusted premium charge of one per ceatum (1%) of the origiaal principel emouat theceof. except
that in ao event shalt the adjusted premium exceed the aggregate amount of premium charges~ which would have
been peyable if the matgage had coatiltued to be iasured until maturity; such peyment to be applied by the mort-
gagce upon its obligation to tLe Secretary of Honsiag and Urban Developmeat aa acconnt af mortgage insuraace.
2. That, in oeder more fully to protect the security of tbis matg,age, the mortgagor, together wiW, ead in addi-
tion to, the monthly payments nnder the terms of the note secured hereby, ou the first day of each month until the
seid note is fully paid, will pay to the mortgagee the follawing suma:
(o) An amonnt snfflcient to provide the 6older bereof witL [unds to pay the eezt moctgaQe iasurrnce pcemlum it this IasW-
mmc and ~6e nae secured herebr are iasured~ or a montLly c6uga (in llen ot a mortQa~e insurance preminm) if they ~te
held b~r the Secretup oE HonsinQ aad Urban De~elopmeat, as tollows;
(n If and so laa~ as sald note ot eve4 d~te aed this iwstr~ment are iatnred o~ are reiasured nader the pro~isioas of t6e
Natioaai Housing Act, an amount su[ficimt to accumnlate ia tbe ba~ds~of the holder one (1) moath prior to its dqe ~
date the aoau~l mort~aQe insurance premium, in order to provide wch hoider witb [wzds to p~r suchpremium to tbe
• Secretarf of Housio~ ~nd Urban Development p~usuant to the N~tioa~i HouslnQ Act, ~s amended.-ind applicable Re~-
latioas t6ereunder. or
(In IE rnd so long as asid aote o[ evea date aad t61s 9asteument arc held by tbe SecretM of Housin~ and Urban Derelop-
ment. a monthly charge (in lien oi • oiortgaQe iawrance premiuo~) whI~h ahdl be In an amouai equal to one-twelfffi
(1/12) of ate-6a1[ (%S) per centnm ot t6e ~ven`e outstandis~ balance due on the note coapated wiWont takia~ iato
• ~ccount deliaquencies or prepaymeats; -
(b) A s~n? eqad to the ground rents. It ~ny. nert dne, pia~ ffie premiwss that wilt ae~ become due aad parable oa polic;es
of flre and offier hosard insurancc coveria~ the moetaa~ed property, plus ta:es aad asaessments ne:t due on the mort-
gaeed prope~ (all as eatlmated by the mort~a~ee) less all wms ~Ire~dr paid ffiercfor divided by the number of months
to elopae belore oae moath pdcr to the date ~vhen sucb ~ound renta, pieminms, ta:es, aed asseasmeota will become de- -
Iinqueat, sncb sua?s to be betd by mortga~ee la trust to p~r s~id ~romd eents, premiums. t~es, and specLl assessments;
and -
;
c~ Att p.ym~ncs m«,cionea ;n ci,e c.ro ~eceding subsecUoni of t61s para~rspb and ~11 paymeata to be made under the note
secured heroby shall be added together and the ag~re~~te amount t6ereof sholi be pald by the mortea~or each mont6 in a
single payment to be ~pplied b~ the mortgagee to t6e tollowin~ items ia the order aet [~th:
(n premium c6ar~ea u~er ffie contnct oI lesnramce wiW tLe Secretarf of HousiaQ wd Urb:n Development, or moatLlr
ch~r~e (in Iieu ot mort~aqe iasarance premiam). as the casc may be;
(In Q,wnnd rents. ta:es, assessmm?ts, [ire, and olher hasard insuraace pemiums;
(II~ L~tecest on tLe note sscnnd 6ereb~; and
(IV) amottisation oi t6e princip~i o[ sdd note.
Any deficiency in the amouat of such aggregate mont6ly payment sha11; unless made good by the matgagor
prior to the dne date af the nert sucb peyment, constiterte-sn event af default under tbis mortgage. The modgagee
may collect a"late charge" nof to ~cceed two ceats (Z~) fac each dollar Esl) of eacb peymeat mae than fiheen
(15) days ia arrears to caver tbe e~dre expense iavolved ia haAdling delinqueat payments,
3. That if the total of tbe ppya~ents mede by the moctg,agor aeder (b) of psragFaph 2 pcecediag s6a11 exceed
the amount af poymeats actaaU~ made bq the mat~,agee, fa giround rents, t~es and assesscoeats and iusiuance
premiums, as the case sag be. snch ezcess s6a11 be ctedited by t6e mortgagee aa sa~sequeat payments to be
made by the matg~gor. ff, bowever, the moathlY PQYment~ made by the mottgagor under (b) of peragraph 2 pre-
ceding sball aot be sufficient to -pey gconnd rents, tauea aad assessm~ats and iusureace pcemiums, as the case
may be, when the same ahall become due and payable, then the matgagor shall pay to the mortgagee any amawt
necessary to make up tLe deficieacy, on a befae the date ~vhea peyoeot of such gcawd cents. ta:es, assessments,
ac i~ucance premiums shal! be due. ff at any time the moctgp~ac shall teader to tl~e mortgagee ia accordaace witb
tbe provisians of tbe note sermrod bereby, ~fn11 payment of the e~ire iadebtedaess repsesented tbereby, the mort-
gagee shall, in computing tbe amomit af ancT~ indebtedness, credit to the aoca~at of the matgagor all peyments
~de nnder the provisions eE (a) af paragrapl~ 2 heteaf which the eateagee 6as aot become oblig~ated to payto
the SeccNary d Honsing aeid Ucbae Developreat aad any balaace ~+t+~ining In the fnnds accumQ]ated uader tbe
provisioas of (bJ af aeid para~ap~ 2. IE t1~ee ab~ell be a detanlt w~der a~y af the p~ovisiaas of this moct~aSe, re-
snlting ia s public sale of the pr~siaes ce~vered aereby, or if the ~ort~agee acquices the propecty othenvise after
defanit. the s«t~agce sball ipply. at the ~ioe af tLe commencement of such proceeding~s or at the time tbe pcop- "
ecty is ot6etaise acqnired, ti~e bolaaae the~ remaiaing ie t6e fuads aocumutated under (8) oE PoraB~aPb 2 P~~6
as a credit a~,afnst the aoount af priaciptl thea ~remeining uapaid undet said aote and shall properly adjust aay
p~y~eets w6ich sball have been wnde noder (o) of said paragraph.
Tliat be will pay all tox~s, asa~ess~ents, wate: rates. aad dher goveramental a mnnicipal c6argea, fines,
or i~poaitims, tor which pravision Lps aaf baen m~de heteiabefa~e, and in defanlt thered the mort88gee meY P4Y
tDe sar; and t6~t Le wtll proo~tly delivet tLe afficial cecsipts theretor to the matpeee.
. ;~168 ~159~
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