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said :.~::g:~gor does heceb~ fully wacc:+nt the title to said land~ a~d every pact theceuf. and will defend the same .
against the law[ui claims oE all persuns whomscever.
t'~:Ci~'IDED ALWAYS~ and these prese~ts are executed and delivered upon the following conditions, to wit:
'T1.~ ~r.octgagor agrees to pay the mortgagee. or order. the pri~cipal sum of $UQ'I~T .THOUSAND F1NE
HUNDRED and 00~100------------------------------------------------------------------
pollar~ (516~9QQ.00 as evidenced by a note of even date herewith. with intecest from date at the
rate of si~c da th~cee-fOU]~th per centum ~ 6 3/4 96) per annum oa the unpaid balance
until ~~..id. 1he said principal ar.d interest shall be payable at the offIce of
J. T. 91'~lA&P MORTGAGS CQ~~/INY~ T1iC. ~~ite 300 - 100 Miraale Mile, Coral Gables, Florida~
oc at such other place as the holder of the note may designate in writing. in monthly instaliments of
QtE $QNDRED 1~INE arid fi8~100---------------Dollars (s 109.68 commencing on
the [i~~t day of Septenber . 19 68 , and oa the first day of each month thereafter untiltheprincipal
and i~itrcest are fnlly paid~ except that the final payment of prinripal and inte~est, if not sooner paid, shall be due
and pa~•able on the first day of AuguBt~ 1998 :
And shali duly. promptly, and fully pedorm. discharge, execute, effect. complete. and comply with and abide
by earh and every the stipulations. agreements, conditions, and covenants of said promissory note and of this
moctgage, then this mo~tgage a~ui tlie estate hereby created shall cease and be aull and void. •
And the matgagor further covenants as follows:
1. That he will pay the indebtedness. as hereinbefore provided. Pri'vilege is reserved to pay the debt in whole.
or in an amount equal to one a more monthly payments on the principal that are next due on the note. on the first
day of any month prior to maturity: Proe:ided, however. that written notice of an int~ntion to exercise such privilege
is given at least thidy (30) days prior to prepayment; and, provided further. that in the event the debt is paid in
full prior to maturity and at that time it is insured under the provisions of the National Housing Act, he will pay to
the mortgagee an adjosted premium charge of one per centum (19b) of the original principal amount thereof, except
that in no event shall the adjusted•premium exceed the aggregate amount of premium charges which would have
been payable if the mortgage had continued to be insured until maturity; such payment to be applied by the mort-
gagee upon its obligation to the Secretary of Honsiag and Urban Develop~ent on account of modgage insurance.
2. That~ in ordec moce fuUy to protect the security of this modgage, the mortgagor, together with, and in addi-
tion to. the monthly payments under the terms of the aots secured hereby, on the first day of each month until the
said note is Eully peid, will pay to the mortgagee the following sums:
(oJ An amount su[ficieat to provide the holder hereof with tunds to pay the ne:t mertgage insurance premium if this instru-
ment and the aote secured hereby are iasured, or a moathly charge (ie lieu of a mortgage insurance premiumj iE they are
held by the SeCretary of Housing aad Urban Development, as foilows:
(1) I[ ond so long aa said uote o[ evep date and this instruaeat are iosured or are reinsured under the provisions ot the
National Hoasiag Act, en amo~at sut(icient to accumulate in the haads of the holder one (1) month prior to Its due
date the aanual mort~aQe insurance premium. ia ordet to _provide cuch 6older with funda to pey such premium to the
Secretary of Housing and Urban Development pursuant to the Nation~l Housing Act, as amended, and applicable Regu-
latiooa ffiereonder; oc
(II) It and so long aa sald aote of evea date and this insttument ve held by the Secretary of Housing aad Urban Develop-
meat, a moathly char~ (in Ilen oi a mort~age inaurance premium) ~rbich shall be in en am~unt equal to one-twelEth
(1I12) of onr6alf (yi) per centnm o[ the avenQe outstaading brlonce due on the aote computed without taking into
~I account delinquencies or prapa~ments;
(bJ A sum equ~l to the groand reats. if any. ne:t due, plos the premiuma t6at will next become due and payable on policies
ot f"ve aad other hazard iasuraace coverin~ the mort~aged property, pius taxes aad assesaments ee:t due on the mort=--J.
gaged property (all aa estimated by the mortgaQee) less all sums aircadr paid theretor divided by the number ot months
to elapse befoce oae moath prior to the date ~vhen snc6 ~ound reats. premiums, tazes, and assessments will become de-
linquent, such sums to be held by mortgagee in trust to pay said @rouad reats, premiums. ta~ces. aadspecialassessments;
and
(cJ All payments mentioned in the t~ro preceding subsections of thia parsgraph and all payments to be mede under the note ~
secwed hereby shall be added together and the aggFegate amount thereof shall be paid by the mortgagor each month ia a
single paymrat to be applied by the mortgagee to the tollowing itema ia the order set fortb: '
(I) premium charges under the contract oE ir~suraace wiW the Secretqry of Hoqsic~ and Urban Developmeat, or monthly
char~e (in lieu ot mortg~Qe insurance premium), as the case m4y be;
(II) ~round reats, ta:es, assesameuts. Cue, and other huard insurance premiums;
(III) intercst oa t6e note secured 6ereby; and -
(1~ amortisatloa of the prlncipol ot soid note.
Any deficiency in the amount of such aggregate monthly payment shall, uriless made good by the mortgagor
prior to the due date of the nezt suc6 payment, constitute an event of default under this modgage. The mortgagee
may collect a"late charge" not to exceed two cents (2t) for each dollar (S1) of each peyment more than fifteen
(15) deys in arrears to cover the e:tra e:pense involved in handling delinquent payments.
3. That if the totat of the peyments made by the modgagor under (6) of paragraph 2 preceding shall exceed
the amount oE payments actually made by the mortgagee, for grouad rents, taxes and assessme~ts and insurance
premiums, as the case may be, suc6 excess s6a11 be credited by the mortgagee on subsequent payments to be
made by the mortgagor. If, hoaever, the monthly payments made by the moctgagor undec (b) ot peragraph 2 pre-
ceding shali not be safficient to pay g~ound rents, taxes and assessmaats and insurance premi~tfis, as the case
may be, ahen the same shall become due and payable, then the mortgagoc shell pay to the matgagee any amount
necessary to rtwke np the deficiency, on a befae the date when peyment of such ground rents, ta:es, assessments.
or insuraace pcemiums shall be due. IE at eny time tbe mortgegoc shell teader to the modgagee in accocdance wit6
the provisiaas of tbe note secured hereby, full poymeat of the entire indebtedness represented tbeceby, the mort-
gaget shall, in computiag tbe amount of such iadebtedness, credit to the account of t6e mortgagoc ell paytaents
made under the pravisions of (aJ of peragRaph 2 hereof which the matgagee has not become obligated to payto
the Secretary d Housing and Urban Development and any balance re~naining in the funds accumulated under the
provisions of (6) of aaid paragraph 2. if there shall be a default nndet any of the proviaions of this mortgage, re-
sulting in•a prblic sale af the premi~es covered ~eceby~ oc if the matgagee acquirea the property otbervrise after
default, the moctga`ee sball apply, at the time af the commencement of auch proceedings or at the time the prop-
erty is otherwise acquiced, tiie bolaace then remaiaing ia the funds accumulated under (6) at parag~aph 2 preceding
as • credit a~,ainst tbe amonnt oE principol then remainin6 unpaid w~dec said note and shaU properlyadjust aay
paymeats whic6 slwll have been made under (a) d aaid ~wra~raph.
4. Tbat be wil! pay all tnses, ssaessmeats. wata rates, oad other governmcntal or municipal charges, fines,
a impositioas, foc which provisiaa haa not been m~de heteinbefae, and in default thereof thc mort`ngee nwy p~y
the same; and that he will promQtly deliver the officlal receipts lbetefor to the mortgagee.
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