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Home My WebLink About2468 i~ ~ said aoetpgor does heceby fully warnat the tttle to s~id land. aad every part theceaf. and wUl defend We same a~atnst th~ la~vEul claims d all persaas whomsoevec. . ~ PROVIDED ALNAYS. and tl~ese preseats ~e executed and deliveced upon the following ca~dltioas. to wit; Tbe matga~a ag~rees to pay tbe 4atgragee. or ader, the princip4l sum ot TEQIC~If T000~1lO tlTl'i anaoonoo------------------------------------ Dolla~s (S 13,050.00 as evidenced by a aote af evea date herewith~ rvith iaterest hom date ot the ~ cate af si~c per centnm ( 6 per aaaum oa the unpeid balance until pald. The said principal aad Iaterest shall be p4yable at the offlce of McC1?W~~N !lOttTGUC~ CGMPAIilt. I11C. , ~Ol Owcal Nap. Coral Gables, llorida, or at such other place as the holder of the aote owy designate in writing. in moatbly iustollmeats of S~EVaI~l'X-SIG~B' atfd 30/100- - - - - - - - - Dollars (t 78.30 commeaciag va the first day of D~o~bsr . 1967 , aad c+a the first day of each moath t6ereaker uat~lt6epr.nclpal aad interest 4re fnlly paid, e:cept that the fiaal paymeat of prlacipal aad iaterest, if not sooaer paid, sball be due and p~yable ca the first day of •~bv~asib~r • 1997 ; . Md sha11 duly. promptly, aad fully perform, discharge, execnte. effect, complete, and caoply with sad sblde by esc6 aad evey t6e stipulatioas, agxeements. coaditioas, aad covcaaats of said pcomissory note and of this mortgage, thea tbis mortgage ~rd tl~e estate heceby cr~ted shall cease and be null aad void. _ Aad the matgagac fiuth~er coveaants as follo~avs: " 1. Thet he will pay the indebtedness. as l~ereinbefore provided. Pci~vilege is resecved to pay the debt ia whole, or in an amouat equal to oae a mae mo4thly paymeats oa~t6e principel that are ne:t due oa the note. oa the first day of aay month prior to maturity: Provided. however, t6at written notice ef aa intentian to e:ercise such privilege is givea at least thirty (30) days pria to prepeyment; ead, pravided f~uther. that ia tiK ~~~i the debt is paid in fuU prioc to awtudty and at that time it is insured under the provisions of the Natioaal Honsiag Act. 6e will pay to the wortgagee aa adjusted premium charge of oae per ceatum (1%) of the original priacipal amount thec~eof, except that in no event shall the adjnsted preminm e:ceed the aggcegate amount of premium charges ahich would have been payable if the matgage had continued to be iasured until mat~uity; such paymeAt to be applied by the moct- - gagee upon its oblig~atioa• to the Secretacy of Housing and Urban Development on account of mortg~age iasurence. 2. That, in ocder mort fully to protect t6e security of this matgage, the mortgaga. together wit6~ and ia addi- ~ tioa to; the maathly payments uader the terais of the ade secuced hereby. on the first dey of each month until the said note Is fuUy paid, will pay to the matgagee the followiag sums: . (a) An imount_s~icknt to pmvide the holder hereof with tnnds to pa~ the uen mortpQe insuraoce premium it this instru- mea[ aad ~e nae secured herebr ace iasured, or ¦ monthly ch~rQe (in lien of ~ mort~ge losw~nce premium) if ffiey are held bp ffie 3ecretarp oE HoasinQ and Urb~a De~elopment, as follo~rs: (I) If and so loo~ ~s s~id aote ot e~en date and Wis iashnment are insured or are eeinsured amder the prorialons of th~ N~tiowl HonslnQ Act. an amonnt sn[Qcient to acc~mnl~te in the baads of the holder oae (1) moath prior to its dae date tLe ~anual mortQa~e insnraace premium. ia order to provlde snch holder wltb tuads to pay snchpeeminm to tbe Secretar~ of Harsin~ ~nd Urboa Developmeat pursuant to t6e Natl~al Housin~ Act. as ~meadad, and ~pplicable ReQu- Iatlans fhere~mder; or , -(In 8 aud so lon~ as said note oE evea date ~nd t6is last~ument are held by the 8ecret~ of Housin~ and Urban Derelop- ` ment. • monthlr char~e (in Ilen ot a aiort~e Insnrance preminm) ~r6ic6 shall be in an amomt equal to one-twelft6 (1/12) of one-hal[ p/j) per eentnm ot tLe ~ven~es ontstandie~ bal~ace due oa We note computed wiWout tatinQ iato accoant delinquencies or prepapmmts; (6J A sum eqa~l te tbe gwmd rents. if an~. ne:t due, plus t6e premiums t6at will ne:t become dne and p~rablc on policies of Eire aad other hosord insuraace coverinQ tbe moetQa~ed property, plns tszes and assesrments nezt dne on the mort- i ~a~ed property (all as estlmated bq t6e mort~a~ee) less all snms alreadp paid t6erefor divide.i by the number o[ months ~ to el~pse betore oae mont6 prior to the date ~rhen auch ~ound rents. preminms, t~:es. ~ad assessments ~vIII become de- ~ iluquerit, snch sums to be held by moctQaQee in tsnst to p~~ said ~ronnd rents, premiums, tuea, and specLl assessmeats; ~ ~ (c) All psyments meutloaed in the two precedina subaections of this p~ragraph ~nd all payments to be m~dc under t6e note ~ secured herebr sl~all be added to~ether aad the a~eQote amouat t6ereof ahall be paid by the moctgagor each monW in a sinQte p~~meat to be applled br the mortQaQee to the [ollo~viag Items in the order aet torth: (n premi~en char~es under the contract of insur~ece ~vith the Secretaryr of Houain~ ~nd Urban Develvpment. or monthl~ charge (ia lieu of awrf~e imurance prem~um), ~s the case m~y be; (m ~round reats, tuces, ~ssessments, tire. and other huard Insnrance premtums; ~ (IIn intecest ou t6e note secured hereb~; ~od . (I~ amortisstion of t6e pdncipai ot said note. Aay deficieacy ia the amount af such aggregete awatWy paymeut shall, . unless made good by the mortgegor prior co the due aate of the aexc such peyment, constit~e an eveat af defautt undPr tliis mortgage. The modgagee mey collect a"late charge" not to ezceed two cents (2~) foc each dollar (Sl) of each peymeat moce thaa fikeen - (15) days in errears to cover t6e eztra expense involved in haadling delinqueat paymeats. 3. Tbat if the total af the peymeuts made by the mortgagor nnder (6) of pareg,~aph 2 preceding shall exceed the amount d peyaieats actually made by the matgagee. foc gROUnd rents, taxes and essessments and ins~uance preauums, as t6e case may be. gnch excess shall be credited by the mortgagee oa subseqneat payments to be made by t6e matgpgor. If~ hoqvever, the monthly payments made by the moctgagor uader (bJ oE peragraph 2 pre- ~ceding shall not be safficient to pey g,~ound rents, taxes a~ assessmants and insuraace premiums, as the case may be, w6en the seme sball become due and poyable, then the matgaga shall pay to the moctgagee any amount necessary to make np the deficiency. ~ a~ befae tbe date when paymeat of such g~ound rents. Cases. assessments~ a insucance premiums shsll be due. If at any time the mortgago: shell teader to the mortg,egee in sccordance ~vith the pcovisioas oE the note aec~ued bereby. full peymeat of the entire iadebtedaess ce~ented thereby, tbe mort- g,agee shall. ia computueg the amouat of anc6 iadebtedaess, credit to tbe acconnt of the matgagoc all paymeats mede nnder tbe provisions oE (a) af peragrapa 2 6ereaf which the moctgagee bas aot becaae obligated to pey to tbe Secntary of Hoasing and Urban Developmeat aad eny balance remaining in the funds accumulated under the provisions of (b) of said paragraph 2. If theca shall be a default under aay of the pcavisions oE thia mactgpge, cr sulting in a public sale of the premises covered ~eceby. oc if t6e matge~ee acquices the propedy ot6erovise afta defauit, the matgagce shall apply, at the time of the commencement of such proceeding,s or at the time the prop- edy is othenvise acquiced, the balance thea remaiaing ia the fuads accumulated under (6J of paregraph 2 precediag as a credit ag,ainst the amouM of pclncipol then remaining uapeid under said note and shall pcoperly adjnst any paya~ents which slwll have bee~e aede under (o) al said paregcaph. 4. That he will pay all tazes, assessments. ~vater cates, aad athat governaiental or municipel charges, fines, oc imposltioos, for which pcavisiao has not been made hereinbefore, aad in default thereaf the mortgagee may pay the same; and that he ~vill promptly deliver the official reoeipts therefoc to the matg,sgee. , SOOK~~ ~z~ . _ - ; _