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HomeMy WebLinkAbout2022 ~ a t - . . , • y 7 ~ . . said mortgagor does heceby fully warcant the title to said land. and every part thereof, and will defend the seme agaiast the lawful claims of all persons whomscever. PROVIDED AL.WAYS. and these presents are executed and delivered upon the followiag coadltions, to wlt; Tbe mortga or agcees to pay the matga ee. or ocder~ the princi 1 sum of Thir~aen Thoa4and Eig~t Hundred Fil~T and No/100--------------- Dollars (S 13~8'SO•00 as evidenced by a note of evea date hecewith, wlth interest from dete at the rate of ---~---"~~---"s3X---------- pec centum 96) per annum oa the unpaid bala~ce until paid. The said principal and intecest shall be payable et the office of J. I. Kielak 1lortgage Corporation of Florida 1101 Brickell Avenue~ ltia~i, Florida 33131 or at such other place as the holder of the note may designate in writing, in monthly installments of Ei6hty-T11=`ee aIId 10/100------ Dollacs (S 83.10 comme~cing on the first day of June , 19 68. end on the first day of each moath thereafter uatll the principal and interest are fully paid, except that the final paymeat of principal and interest~ if not sooner paid, shall be due and payable on the first dey of 11~~/ 1998 ; And shall duly. promptly. and fully perform, discharge. execute. effect, complete. and comply with and abide by each and every the stipulations, agreements. conditions. and covenants of said proa~issory note and of this mortgage. then this modgage and the estate hereby created shall cease and be null and void. And the mortgagor further covenants as follows: 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to pay the debt in whole, or in an amount equal to one or more monthly payments on the principal that are next due on the note, on the first day of any month prior te maturity: Provided. however. that written notice of an intention to exercise such privilege is given at least thirty (30) days prior to preQayment; and. provided Eudher..that in the event the debt is paid in full prior to maturity and at that time it is insured unde: the provisions of the National Housing Act, he will pay to the modgagee an adjusted premium charge of one per ce~tum (196) of the original principal amount thereof, except that in no event shall the adjusted premium eaceed the aggregate amount of premium charges which would have been payable if the modgage had continued to be insured until maturity; such payment to be applied by the mort- gagee upon its obligation to the Secretary of Housing and Urban Development on account of modgage insurance. 2. That, in order moce fully to protect the security of this modgage, the mortgagor. together with. and in addi- tion to. the monthly payments under the terms of the note secured hereby, on the first day of each month until the said note is fully peid. will pay to the modgagee the follopving sums: • ~ (a) An amount suE(icient to provide the holder hereo[ witt~ fuods to pay the nezt mcrtgage insurance premium i[ this instru- meat and the note aecwed hereby are insured. or a monthly charge (in lieu of a mortgege insurance premium) if they are ; held by the Seccetaryr of Housiag aad Urban Development, as [ollows: (I) I[ aad so long aa said aote of even date and this instrumeat are insured or aro reinsured under the provisions o[ the National Housing Act, an amount sufficient to accumulate in the hands of the holder one (1) month prior to its due date the annual mortgage insuraace premium, in order to provide such holder with funds to pay such premium to the ~ Secretary_of Housing and Urban Development pursunnt to the National Housing Act. as omended, and epplicable Regu- latians thereunder; or (II) If and so loag as said note of evea date and this instrument ore held by the Secretary of Housing end Urban Develop- ment, a monthiy charge (in lieu of a mortgage insurance premium) which shall be in an amount equal to one-twelfth ' (1/12) ot one-half (y4) per centum of the average outstanding balance due on the note computed withouttaking into account delinquencies or prepayments; (bj A sum equal to the ground rents, if any, nest due. plus the premiums that will next become due aad payoble on policies ~ of Cre and other hazord insurance covering the mortgaged property. plus tases and assessments ne:t due on the mort- j j gaged property (all as estimated by the mortgagee) leas ali sums already paid therefor divided by the number ot months ~ to elapse betore one month prior to the date when such ground re~?ts, premiums, tazes, and assessmeats will become de- ~ linquent. such sums to be held by mortgagee in trust to pay said grouad rents, premiums, tazes, and special assessments; € and t (c) All payme~ts mentioned in the two preceding subsections of this paragraph and a1l payments to be mede under the note ~ secured hereby shall be added together and the eggregate amount thereof shail be peid by the mortgagor each month in a single payment to be applied by the mortgagee to the tolloaing items in the order set forth: (n premium charges under the coatract ot insuraace aith the Secretary of Housiag and Urban Development, or monthly ~ charge (in lieu ot mortgage insarance premium), as the caae may be; (II) ground rents, tazes, assessments, tire, and other hazard insurance premiums; (III) interest on the note secured hereby; and (t{~ amortisatioa of the princip~l of said note. _ Any deficiency in the amount of such aggregate monthly paym~nt shall~ unless made good by the mortgagor prior to the due date of the next such payment, constitute an event of default under~this mortgage. The modgagee may collect a"late charge" not to exceed two cents (2a) fot each doller (Sl) of each payment more than fifteen t (15) days in anears to cover the extra expense involved in handliag delinquent payments. ~ 3. That if the total of the payments inade by the modgagoc under (6) of paragRaph 2 preceding shall exceed i the amount of payments actually made by the mortgagee, for ground rents, taxes and assessments and insurance ~ premiums, as the case may be, such excess shall be credited by the mortgagee on subsequent payments to be made by the mortgagor. If, however, the monthly payments made by the mortgagor under (6) of paragraph 2 pre- ~ ceding shall not be sufficient to pay g,cound rents, taxes and assessm~~nts and insurance premiums, as the case may be, vohen the same shall become due and peyable. then the matgagor shall pay to the mortgagee any amouat , necessary to make up the deficiency, on or befae the date when payment of such ground rents, taxes. assessments, ; ~ or insurance premiums shall be due. If at any time the mortgagor shall tender to the mortgagee in accordance with ' ~ the provisions oE the note secured hereby, full payment of the entire indebtedaess represented thereby, the mort- ~ gagee shall, in computing the amount of such iadebtedness, credit to the account of the mortgagor all payments ~ made under the provisions of (aJ of paragraph 2 hereof which the mortgagee has not become obligated to payto the Secretary of Housing and Urban Development and any balance remaining ia the funds accumnlated under the ~ provisions of (6J oE said paregcaph 2. If there shall be a default under any d the provisions of this matgage, re- ~ sulting in a public sale of the premises covered hereby, or if the mortgagee acquires the property otherwise after ~ default, the mortgagee shall apply, at the time of the comme~ement ~ such proceedings or at the time the prop- erty is otherwise acquired, the balance thea remaining in the funds accumulated under (b) of paragraph 2 preceding ~ as a credit against the amount of prlncipel then remaining unpaid under said note and shell properlyadjust any payments which shall have been made under (a) of said paragcaph. ~ 4. That he will pay all taxes, assessments, water rates, and other governmental oc municipal charges, fines, or impositions, for which provisian has not been made hereinbefoce, and in deEault thereof the mortgagee mry pay the same; and that he will promptly deliver the officisl receipts thecefor to the mortgagee. ~ a~c ~ ~ .t . - ~ ; _ - .~v ~-k ~n~--~ ~ w. : "