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Home My WebLink About2611 Doc~entar~ s~s~rpa ip the t o! #15 90 FN~ I~16: 093-OS?4?5-~03 aifi=ed to oanaelled oa o a~~~. ' : , . said moctgaga does heceby fully wanent the title to said land. and every part thereof, and will defend the seme against the laaful claims of all persoas ~rhomsoever. PROVIDED ALWAYS, aad these pcesents are executed anu delivered upoa the followiag coadltions. to ait: The mort a or a ces to the mortga ee. or ocde~. the princlpal sum of ~~~~~a~~~~n~----------------------- Dollars (S 10~600.00 es evidenced by p note of even date herewith. ~vith interest fcom date at the rate of 33][ per centwn ( 6 per eaaum oa the uapeid balance until paid. The said priacipal aad interest shall be payable at the ofEice of J. I. 1CISI~AIC kORTGIGB CaiPORA?IOIi OF FTARIU~ - 1141 Bdrickell ~~+~nne, 1~iaoai, 1r].orida or at such other place as the holdec of the note mey designate in writiag, ia monthly installa~ents oE ' SIZT? THEiSB ~ID 60~100-~ - - - - - - - - - noiia~ (s 63.60 commenciag oa the first day of DeCe~bsP , 19 6't , and aa the first day oE each month thereaker untiltheprincipal and iateceat are fully paid, e:cept that the final payment of principal aad interest. if not sooner paid. shall be due ~ and payable oa the first day of 1109!'IB'FR~ 1997 : ~ And shall duly, pcanptly, and fully pedorm, discharge, execute. efEect~ complete. and comply with and abide by each sad every the stipulatioas, ag~eemeats. coaditioas, and coveaaats oE said pcomissory aote aad of this modgage. then this mortgage and the estate hereby created shall cease and be nall and void. Aad the matgagor further covenents es follows: 1. That he will pay the indebted~ess, as hereiabefore pcovided. Privilege is reserved to pey the debt ia whole, or in an aawunt equal to one or more monthly payments oa the principal that ace aezt due oa the aote. on the first day of aay moath prior to maturity: P~ovided. however, that aritten aotice of an iatention to exercise such pcivilege is givea at least thirty (30) ~ays~ priac to prepayment; aad, provided further, that in the eveat the debt is peid in Eull pcior to maturity and at that time it is insured uader the provisions of the Natioaal Housiag Act, he will pay to the modgagee an adjusted premium charge of one per centum (1%) of the original principel amount thereof. except that irt no eveat shall the adjnsted preminm exceed the agg~egate amouat of premium charges which aould have been payable if the mortgage had contiaued to be insured uatil maturity; such peyment to be applied by the mort- gagee upon its obli$atioa to the Secretary of Hoasing aad Urbsn Developa~eat on accouat of mortgage insurence. 2. That, in orde~ more fully to protect the secnrity of this moctgage, the mortgagor, together with. and in eddi- tion to, the monthly payments under the terms of the note secuced hereby, on the first day of each month until the said note is fully peid. Will pay to t6e modgegee the follooving sums: (a) An amount sufticleat to provide the holder bereof wlt6 funds to pay the ne:t mortg~ee iasuraoce premium if thls instru- meat aad the note scc~ued heteby ~re insured. or a moathly c6u~e (in lien of a mortgaQe iasurrnce premium) if they ~re heid by the Secretary of HousiaQ aad Vrban Developmeat. •s tollows: ~ (I) IE and so loaa as said aote of evea date and this instrument are insurcd or ~re reiasured under the pwvisioas oI We Notional HousinQ Act, an amouat sufCicient to occumulate ia the h~nds oi the 6older one (1) moath prior to•its due date the aaaual mort;age insurance premtum, ia order to pwvide such 6older wlt6 tunds to pay sucb prcmium to the ~ Secretary of Honslag and Urbrn Developmeat pursuoat to the Natioa~l Housing Act, as amended. aad appiicoble Regu• ~ lations fhereuader, or ~ (II) I[ and ao loag os said note of evea date aad thia instrumeat ~re held br the:5eeretary of Housing and Urban Develop- ment, a monthly char~e (in lien o[ a mortgage insuraace premium) wrhich sh~ll be in an aawunt equal to onrtwelfth (1/12) of oae-holf per centum of the ~venge outstanding baloace due oa We r.ote computed ~rithout taking into ~ account delinquencles or prepaymeats; . ~ (b) A sum equat to the gwund reats, if any, aezt dae, plus the premiums that will nezt become due aad payable on policies ~ of fire and other hasard iasurance coveriag t6e mortgaged pwpcrty, pius ta:es and assessments nert due on the mort- gaged property (aU os esUmated bp t6e mortgaeee) less all suma alreody paid tLerefor divided by thc number ot moaths to elepse be[ore one mooth pdor to the date wrhen such ground rents~ premiums, t~:es. and ossessments will become de- linquent, such suma to be held by mortgagee in trust to pey said growid rents. premiums, tues. ~nd speclol assessments; and (c) All poymenta mentioned ia the two preceding subsections of this paragraph ~nd alt payments to be made uader the note - secured hereby ahall be added to~et6er and the aggregote amouat thereof shall be paid by the mortgagor each moath ia a ~ single paqmeat to be applied by t6e mortgaQee to the lollowing items in the order set [orth: ~ (n premium charges under the coatroct oE inaurance writh the Secrctary of Housine and Urbaa Developmeat. or monthly chorge (in liea of mortgage iasnrance premium), as the case maq be; (II) ~rouad ~ents. t~zes. •ssessments, Cue, aad other hazard Insuraace premiuma; ~ (IIn iaterest oa thc note secured hereb~; and . ~ (I{~ amortjsatioa of t6e pHncipai of said note. Any deficiency in th~ amount of suc6 aggregate monthly paymeat shall, unless made good by the mortgagor prior to the due date of the next snch paymeat, cvastitute en event of default under this moetgege. The modgagee may collect i"late charge" not to esceed two cents (2`) for each dollar (Sl) of each payment more than fifteen ~ (15) days in amars to cover the extra expease involved in handling delinquent payments. = 3. That if the total oE the payments made by the matgegar under (b) of paragraph 2 preceding shall exceed the amount of payments actually made by the matgagee, for g~ound rents. tases and assessments aad ins~uence premiums, as the case may be, such excess sball be credited by the mortgagee on subsequent payments to be made by the mortgagor. If, however, the monthly paymeats made by t6e mortgagor uadec (bJ of paragcapb 2 pre- ceding shall not be snfficient to pay gROUnd rents, tanes and assessmaats end ie~urance premiums, as the case ? may bg, whea the same shall become due and peyable, then the matgaga shall pay to the mortgagee any amount necessary to make up the deficiency. on a befoce tbe date ahen payment of such ground rents. taaes, assessments, oc insuraace premiums shall be due. If et eny time the moctgegor shall tender to the mortgagee in accordance with , the provisioas oE the note secured hereby, full payment of the entire indebtedaess represented thereby, the mod- gagee shell, ia computing the amoant~ of such indebtedness, credit to the account of the mortgagor all payments mede under the pravisions of (a) of perag~aph 2 hereof which the mortgegee has not become obligated to pay to the Secretary oE Housing and Ucban Developmeat and aay balance remaining in the funds accumulated under the : provisions of (6J oE said paregraph 2. If there s1w11 be a default under any of the pcovisions of this mortgage, re- i sulting in a public sale oE the premises covered ,ereby, or iE the mortgagee acquires the pcopedy otherwise after ~ defautt, t6e matgagee shall apply, at the time of the commencemeat of such proceeding~ ar at the time the prop- erty is otLerwise acquired, the belance thea remaining in the funds accumulated under (b) of paragraph 2 preceding as a ccedit ageinst the amount of priacipel then remaining ~npaid under said note and shall properly adjust eny paymeats w6ich shall have been made under (a) of said paragrapb. - 4. That he aill pey all tazes, assessments, ~veter retes, and dher governmental oc municipel charges, fines, s or impo~itions, foc ovhich provisian hes not beea made hereinbefae, and in default thereof the modgagee may pay ' the sarne; end that he will pranptly deliver the afficial receipts tberefor to the mortgagee. b~K1ss Pa~~zso5 ~ ~ _