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HomeMy WebLinkAbout1798 « ~ , ~ . , . ~ , said matgagoc dors hereby fully wanant the title to said land. and every part theceot. and will deEend the saa?e a~aiast tbe la~vtul clalms of all persoas whomsoever. PROVIDED ALINAYS. aad Wese ptesents are executed and deliveced upun the following conditions, to wlt: The matga~or egRees to pay the mat~agee. or ocder. the prlacipal sum of Fbvrteen Thausand Three ~undred Fi!'ty and No/100----------•-~--------•------------- n~tt~~ (S 14,350.00 as evidenced by a note of evea date herewith, with interest from date at the cate of eiX per centnm ( 6 x,) per aanum oa tbe uapeid balanCe until paid. The said principel and interest shall be p~yable at the oEfice of ATICO FII~IANCLIL CatFORATIOP, I'bst Of"tice Box 3131, Hiaad, Florida . or at such other place a the holder of the note may designate in aritiag. in ma~thly installments of Tighty-Six a~d 10~100--------------•------•Dollars (S 86.10 commencing on the firat day of Deeember ~ 19 67 . and oo tbe flrst day of esch month thereafter untl2thepriacipal and Intecest are fully pald, e:cept that the final payment of priaclpal ead interest. if not sooner paid. shell be due aad payable oa the ficst day of No'v'eIDber~ l~? ; . . ~ And shall duly. praoptly. aad fully pedorm, discharge. execute. effect, com~lete. and comply with and abide by each aad every the stipulations, agreements. conditlons, aad _coveaants of said promissory aote aad of this modgage, then this moctgage and the estate heceby created shall cease and be null and void. And the matgagoc fwther coveaants as follows: 1. That he will pay the iadebtedness. as hereinbefore provided. Priirilege is reserved to pay the debt in whole~ or in an amount equal to one or more monthly payments on the pcincipal that are next due oa the note. oe tbe first day of any monW prior to maturity: Provided. however, that written aotice of an Iatention to exercise such privilege is given at least thirty (30) days prioc to prepeyment; and, provided further, that in the event the debt is peid in full prior to aiaturity and at thet time it is insured under the provlaions of the National .Housing Act. he will pay to the mortgagee an adjosted premium charge of oae per centum (1%) of the original priacipel amonnt thereof. except that ia ao eveat shr.ll the adjusted premium exceed the aggregate amount of premium charges which would have been payeble if the modgage had continued to be insured until matutity; sucb payment to be applied by the mod- gagee npoa its obligation to the Secretary of Housing aed Urbea Development on acconat of mortgage insurance. 2. That. in order more fuUy to protect the security of this mortgage. the modgagor. together with. and in addi- tion to. the aionthly paymeats nnder the ter~ns of the note secured 6eceby, on the first dey of each month until the said aote is fuUy peid, will pay to the mortgagee the follawing sums: . (aJ An amw~nt sufflcient to provide the holder hereot ~rith imds to par the ne:t mortgaac Insuraace premium it this instru- ment aadthe note secnred hecebr ue iasured. or a monthly chuQe (la Ilea of a mort~ge iasuraace premium) if Wey are held br the Secretary d Honsio~ and Urb~e Development. •s [oUoas: " (n If aad so loaQ as said not~ ot even date and this instrumeat are lnaured or ~re reinsaced under the pw~isions of t6e N~tional Housiae Act, aa ~mount sntficjeat to accumulate ia the haads of ffie holder one (1) moath prior to its due • date the wnual mort~ae iasnraace premiwa, in order to provide snch 6older aith [uads to p~y aucb premium to the Secretarp of Honstnt aad Urban Development pnrsu~at to tLe I~I~tiootl Housiat Act, as ame6ded, and applicable Regu- l~tians theeeuader; or ~ If and so lonQ ~s s~id note oE evea datt aad this instenmeut are held Ery the Secretar~ ot Housin~ ~nd Urban Develop- ment. a montl~l~ c6ar~e (ia lien of ~ qiort~~e inwrance premias) wiilcb a6~11 be in an amount equ~l to oae-rivelfth (1/12) of oae-halE p~ ceatnm of tl~e a~eraQe oatst~ndfn` bal~nce d~e oa the oote compnted wrlthout taking iato , accouat deltrt~Zue~les or prapa~meats; (6) A sum equ~t to t6e ~omd rents. if ~n~, nert dne, plus the pcemines that will next become due aad p~yable on policies ~ of Eire aad ot6er huard iasnrance cov~rint the moet~a~ed propeet~. plus ta:es and assessa~ents nezt due on the moct- i Qaged pwpe~tp (all ~s ~stimaled br t6e mortp~ee) less a11 sums ~ireadr paid ffieretor divided by the number ot moaths f to elspse belore one montb prior to ffie date wrhee snch ~ound reats, preoiaaas. t~:es. and assessmeate will become de- ~ 1~ ent, stich snms to be 6eld by mortea~ee in trust to p~y said ~onnd eeats, peeminms, t~es, ~ad specLl assessmeats; (c) All p~pmeats mentloaed ia t6e two precedin6 snbsections of tl~is para~~ph and all p~yments to be m~de under the note secund hereb~ ahtll be added to~et6er ~nd tLe a~e~ate amount thereo[ s6~11 be paid br the mortQagor each moath ta a aingle paymeat to be applied by t6e mort~~~see to the EoUo~rinQ itevs in ffie ordee aet tortb: (n preminm clur~es ander t6e contraM of insnrance ~ritL tbe Sec~etai~ of Housin~ aad Urban Development, or monthlr c6ar~e (in Iieu oE mort~e insoraace premium). as the c~se m~r be; , (In Qomd r~nta, tu~s. ~ss~ssoent~. [iee. ~nd other hasard Iasur~nce premiums: (IIn iaterest oa H~e note secu»d berebf: ~ud - _ amortisation ot t6e pNncipal ot uid note. Aay deficiency in the amouat ofsactr-aggre~aE~~onthlg--payment shall, unless o~ade good by the mortgagor prior to the due date of the nest suc6 payment, constitute an event af defeult under this mortgage. The mortgagee may collect a"late charge" not to exceed two ceats (2~) for each dollar (~1) ~ each payment more thaa fikeen (15) days in arcears to coVet tbe e:tra e:penae involved la handling deliaquent payments. , 3. Tbat if the total d tbe payments made by the moctgagor undec (bJ,of paragtapb 2 preceding shall exceed the amouat of payments actnally made by the mortgagee, fa g~ound rents, taxes and essessments and iasurance premiums, as the case may be, such e:cess shall be ccedited by t6e mortg,agee oa subsequent payments to be mede by the mortgagor. If, hoarever. the monthly paymeats made by the mortgagor undec (b) of pacagraph 2 pre- ceding shall aot be s~fficient to pay gROnnd rents, taxes aa! assessmants and iasurence premiwns, as the case may be, whea the same shall become due aad peyable, then the matgagor shall pey to the mortgagee aay emouat necessary to make up the deficieacy, on ac befae the date w6ea payoent of sncb grau~d cenb, texes, assessments. oc insurance premiwas shall be dne. If et eny time the moctgaga shall teader to the mortgag~ee in accordeace wit6 the pcovisioos of the aote secnred 6erebq, fnll poymeat af the eakire indebtcdness repceseat~d therebp, the mort- g~gee shall, in compntin~ the aaauat d sncb indebtedness, credit to the pccouat af the matgagor all peyme~s e~ade under the pravisiaas of (aJ af paragrapb 2 heceaf which tbe mactg,a~ee has aot become obligated to pay to the Secrefary af Housing and Urban Development and any balence remaining in tbe funds accumulated nnder the provisioos af (b) of said paragiraph 2. If t6ere shall be a default under any af t6e pravisioAS of this moct~age, re- sulting in a pnblic sale of the pcemises crn+ered xreby, oc if the matgagee acquicea the prope~ty othenvise after default, the matgagee shall apply. at tbe time oE the commencemeat of such proceedings or at the time the prop- edy ia othenvise acquired, the bolanee tbea remaining in the fnnds aocumnlated nader (6) of paragraph 2 preceding •s o ccedit a~,ainst the amonot oE pcincipnl tben remainiag uapaid uader said note and sball properly adjust aay _ p4yments which slwll hrve beea msde nnder (a) ef said paengFaph• ' 4. That he will p~y aU ta:es, asavssments, wata rates, ead other goveramenial oc municipol charges, fiaes, oc impc~sitioas, for ~vhicb pravisian hes aot been made hereinbeEae, and ia defouit cbered the morceagce may pay the same; and that he will promptly deliver tbe official receipts tberefor to the mort$agee. ~ a~K168 ~1793 C~ _ Tµ.W~:~~ _ _ _ _ _ . .