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Home My WebLink About1187 ~ ~ : ' ~ ~ ~ i said mortgagor dces hereby fully wacraat the tltle to said load. aad every part tbereaf, and will defead the same against the lawful claims of all persoas vpbom~oever. PROVIDED ALWAYS, and thesa presents sre executed aad delivered upoa the follawiog coaditioas, to wit: The moctgaga ag,cees to p~y the mat~gee. or order. the princi 1 sua~ of - ~IQHTLF~i T~USwi]D Tii~ ~itJltDB~D /1~iD ~10~~V~~~~~~~~w~~~~~.~w.~w~~~~~~~~• Dollacs ~8 ~~OD.QO as evideaced by ~ not4 d evea date hecewith, Mrith interest from date ~t the rate of • i.7~ 11~ t~Tlt~QllaTttl" Pet centum ( 6 g/4 Per oaaum ou the uapaid balance uAtil paid. The said priacipel and iaterest shall be payable at the office of ~ ATICO FI~iAD1CIAL OO~PO~IO~-P. O. Box 9191-MiaQi, l~lorida 3~101 oc at such otber place as the holder of the note may des'ignate in arciting, in moathly instaliments oE OI~ HU~DiREll Elqi'1~EZi AND 77f 100--••Doliacs (S 118.77 commencing on the ficst dey of OCtObts' 19 68r, and oa the first day of each moath ihec~after uatilthepcincipal and interest are fully paid, except that the fLnal payment of principal and interest. if not soaaer paid, shall be due and payable on the first day of $epttmbtr ~ 1998 ; . Aad shall duly. pranptly. and fully pedorm, discharge. execute, effect, complete, and comply with and abide by each and every the stipuletioas, agreements. coaditions. and covenants of said promissory aote and of this modgage. then this mortgage aad the estate heceby created shall cease and be null and void. Aad.the mortgagor further covenants as follows: 1. That he wIll pay the iadebted~ess as hereiabefore provided. PriVilege is resecved to pay the debt in ~vhole, or in an amouat equal to one or moce mon~hly_ payments on the principal that are aext due oa the aote, on the first day of any month prior to maturity: Provided, however. that writtea notice of an inteAlSon to exercise such pcivilege is given at least thidy (30) days pria to prepeyment; aad. pcovided further. _ that ia the event the debt is paid in ful! prior to meturity and at that tia~e it is insured nnder the provisio~s of the National Housing Act. he will pay to the awdgagee aa adjusted premium charge of o~e per ceatum (1%) of the original priacipal amoont thereof, except that in ao event shall the adjusted pcemium exceed the aggregate amouet of premium charges vvhich wonld have been payable if the moctgage hed continued to be iasured nntil matarity; such payment to be applied by the mort- gagee upoa its oblig,atiat to the Secretery of Hoosiag and Urban Developmeat on acco~nt of modgage ins~raace. 2. That. ia ocder more fully to protect the security of this mortgage. the mortgagoc, together with, aad in addi- tioa to. the monthly payments under the terms of the note secured hereby, on the first day of each awnt6 until the said note is fully peid, will pay to the moctgagee the follvwing sums: (a) An amonnt auUicieat to provide the holder hereot with [uads to pa~ the ne:t mortgaee ins~uance preouum if this instru- ment and the note secured hereby are insared, or a monthly charge (in lleu ot a mortgage insurance premium) it ther are held bq We Secretary of Hwsiaa aad Urbaa Developmeat. as (olloas: (I) It and so lor~ as said aote of even date and this instrument are iasnred oc are ~einsured ~mder the pwvisloos o[ the j Nation~l "Housing Act. an amount sufficient to accumulate ln t6e haeds of t6e holder one (1) moath pH~ to its due date thc amual mortgage insurance p~emium. Ia order to prdvide such 6older ~aiW tunds to pay sucLpreaium to t6e Secretar~ ot HQUSing and Urbaa Developmmt pursu.ant to the National Housing Act. as amended. aad applicable Regu- latiaas theceuader; o~ (II) If aad so lon~ ~s said note 'ot evea date and t6ia iast~ument are held by the Secretary of Hon;iag and Orban Develop- ment, a moathly clwrge (in lleo of a mortgage insurance premium) ~r6icb shall be in ~n amount equal to one-twdith . (1/12) o[ oae-6alt (~i4) per centum ot the average outsta~ing balance due on the note compnted ~vithout tokiag into accouat delinquencies or prepaymmts; j (b) A sum equal to the ground rents. it any. next due, plus the premiums that will ae~ct become due and payable on policies ! of firc and other hazatd iasuraace covering the mortgaged property, plus ta:es aad assessments eezt due oa We mort- ' i gaQed property (all ~s estimated b~r the mortgogee) lesa all sums alre~dp paid tberefor divlded by t6e number of sonths to elapse before one mont6 prior to ihe date a6ea such ground rents. premiums, t~zes, aad ~ssessmeata will become de- ~ linquent. such aums to be held by mortgagee in trust to pay said ~ound reats. premiums. ta~[es. ~nd specLl asseaaments; and (c) AU paymeats mentioned ia the tao preceding subsections oE t6is pangr~ph aad ali payments to be m~de under the aote aecyred hereb~ shali be added together aad the a~egate ama~wt thereof ah~ll be p~id by the mortQ~gor each monW ie a siagle paymeat to be wpplied by t6e sorttogee to the follo~aing items in ffie order set torth: (n premium charQes under the coatract af insaraaae ~rkb the Secretary of Housiag and Urbm Derelopmmt. or monthlq c6arge (in tien of mortg~ge insuraace premiwn). as the case m~y be; (II) Qronnd rents, tues, assessmmts, [ire, and other hazard insuraece presiums; (iII) interest on the note aecured hereb~; aod • (IV) amort~atloa of t6e princip~l ot said note. Aay deficiency in the amount d such aggregate monthly pa~yment shall, nnless made good by the mortgagor prior to the due date d the nezt snch peymeat, coostitde an event oE defenlt "under this mortgage. The mortgagee may collect a"late chacge" not to ezceed two centa (2~) fo~ each dollar (S1) of each payment moce then fikeen (15) days in arrears to cover the ei~tra eapen~e involved in handling deliaquent parments: 3. That if the total of the peyments made by the mortgagor undet (6J of paragrapb 2 precediag shall exceed the amount of poyments actually made~by'the moctgagee; fa g~auod reats, teues and assessmeats awd iasurance premiums, es tbe case may be. snch e:cess shalt be credited by tl~e matgragee oa subseqneat peyoents to be . ~ made by the mortgagor. If. hawever, tbe monthly paymeats made by the matgagor under (b) ~ paragraph 2 pre- ~ cedin~ s~all nqt _be suffici~ent to peY ground reats. taxes aad assessma.ats and insnrance Premiums, as tbe case may be. ~vhen t6e same shall becooe due and peyable. then the mortgagat shell pay te the mort~~ee any amouat necessary to mal~ up the deficiency, oo cc befoee tbe date when payment of such gcound rents, ta:es. asseasmenta, or iasurance preminms shall be due. If ~t any time tl~e mortgegoc s6aUtender to the modeagee in eccordance witb the ~ovlsions of the note secnred hereby, Eall pnyment d the eatire indebtedneas rep~eseated thereby, the mort- gagee shall, in- caapntiag the amouet d sncb iadebtedaess. ccadit to t6e accau~t af the oat~aaar all payments made uader. We pravisions of (a) of p~uag~aph 2 ireceof whicb the matgagee !ws not becoe~e obligated to poy to the Secretary d Housing ~d Urban Development aad any balance reoainiag ia tbe fun~s ar~yqujqted-,iWder the pmvisions of (6J oE said paragRaph 2. It tberr shall be a defey~t under eay of the pcovisio.~s of t6is mat~pge, re- sulting in a public ss~le of th~ preanisti coveidd tieie~, oi if~tbe mat~a~eee acquires the propecty otberwise after default. the mortgagee shall ~pply. at tbe time d tbe commenceaieM of such proceedin~,~s a at the time the prop- erty is othenrise ac~uired, the balance then remainint in the ftuids accumulatcd uoder (6) of parag~aph 2 pteceding as a crcdit agaiast tbe'ao~onat of prlnclp~l tbeA remoinins unpaid 11Qdl~ =Y~d OOtC Ytld shall properlyadjust ~ny PoYmeab whicb shall have beea made uader (a) d said pnngrap6. 4. Tlwt he will pay aU taxes. assessment~, water rates, aad otber gover~mental or municipol cl~arges, fi~e~', or iopasitia~s~ tor which pro~visiaa has aot beea spde l~ttsiabsfa~e, ond in defoult tDececf tbe ea~tN~ee eay p~y the same; and that he will pranptly delivet tb~ efticioi reoeipts tberefor to die mottgp`ee. ~~i?3 ~~11'r8 ~