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HomeMy WebLinkAbout2336 . ; ~ ' j ~„t~~::%~~~~ ~ . , a„l~~ ` , - said ma:t~a~or d.oes hecaby fully warcaat tbe title to said laad. and every pirt. thereoE. ar~d wltl d~fead the same aealast tl~e Lwfal cbies aE all pe~aQas wboa~soever. ~ - PROVIDEO ALWAYS. ind tf~ese pcese~ ue executed and daliverat upon ths follorriag caaditloa~. to wit; hundr~e~~ and No~~00 ~p~~' a«dec. tbe ptt,~cctp.l sum ot Fif teen thousand four ~ 15 , 400. 00 ,~a evidanced by • note oE even date hecewit6. with intecest froa date a~t the rate at a ix & three-four~hs per cencuai ( 6-3/4 X,) per •aaum on the nnpatd baiance nnc~ i. Tf~s sdd pciactpal aad int st shall be payable at the ofike of ATI00 FINANC~AL OO~BATION, a corport~on vnder ths laWa of the State of Delaware, P. O. Box 3131, ~Mfemi, Florida a at suc6 atber place as the~ol~ec ot the nde eiay desiQpate ie wdtlae, ~n moawly iastallments of One hundred $eveateen aad 19/100- - - - - - - poll~ra (t 117.19 co,nmenc~n~ oa the ticst day oE November , 19 68 an the first day d eac6 mentb theceafter natil the pcincipal ~nnd iatecest ace fnlly paid, except tlwt We fiaal payment oi pciacipal aad interest, if aot sooaer paid, shall be due and p~yable ca the ftrst day of Oetober, 1988. ; . And aheQ duly, pcompRly. ond fally pedo~m. discharse, execute, effect. complete. and comply with ond abide by eacb and every tLe stipnlotioas, ag~eements, coaditioas. and caveaaats of aaid pcomissory aote aad of this mortgage. thea this matg,tige aod the estate hereby created shall cease aud be aull and void. And the ma~tgagor fuither co~venants as follows: 1. 'f6at he will pey the iadebtedness, as hereinbefore provided. Prii?ileg+~ is reserved to pay t6e debt i~ ahole. or ia an amouat equal to one a mc-!R monthly paymeats on We principal that aee ae~ct due on the aote. oe the flrst day of any moath prior to maturity: Provided, hoarever, that written aotice of aa iateatioa to exercise snch privilege is given at least thirty (30) days pria~ to prepayment; and, provided further, that ia the event the debt is paid ia - full p~ior to maturity and at that time it is insured uader the provisions of the Natioaal Nousing Act, he will pay to the mortgagee an adjusted premium charge of one per centum (19G) of the orig~aal principal amount theceof, except that ia ao event shall the adjcsted premium exceed the aggregate amouat of pcemium charges which would halve been payable if t6e moctgage had continued to be insured natil maturity; such payment to be applied by the mort- gagee upon its obligption to tbe Seccetary of Honsing and Urban Developmeat on accouat of mortg~age insuraace. 2. That~ in order more fnlly to p:otect the sec~rity of this modgage, the modgagor, together with, and in addi- tion to, the moc~thly peyments under the terms of the aote secured hereby, oa the first day of each month until the seid note is fully paid. will pay to the mortgagee the follawing sums: (a). An amouat suUicleat to provide the holder hereof with [unds to pay the nen mortQaQe insurance prcmium if this instrn- ment and the note secared herebp are insured, or a monthly charge (in lieu of • mortgaQe iasurance premium) i[ they are held by the Secret~ of Housin~ ~md Urban Development, 4s tollo~rs: (I) Ti aad so lon~ as said note of even date and this instrumeut are iasured or ore reiasurcd mder the provisioas of the N~tlonal Hausio~ Act, aa amount sutticient to accnmul~te in tbe hands of the holder oae (1) moat6 pdor to its dne d~te t6e annusl moct~Qe lasnraace preminm, in order to .provide such holder ~vith [uads to p~y sucb premium to t6e Secretary o[ Housing ~nd Urbn Development p~vsuant to the Natioaai HousinQ Act, as ameaded, and ~pplicable ReQu- l~tions thereaader. oc (II) lt and so lonQ ~s said aote oE even date and t}~is iastn~ment are 6eld by tbe Secretasp of HouslnQ and Urban Develop- ment. ~ montLly charge (in lieo o[ a mortQa~e inswaace premi~m) a61d~ shdl be in an amonat equai to one-tweltth (1/12) ot oae-6atf (yi) per ceatwn of t6e ~ven~e outstandin~ balance due oa the aote computed ~vithout takin~ iato accouat dellnqnencies or prepapments; (b) A sum equ~l to the around reots. if any. ae:t due, plw ~e premiums th~t wlll ne:t beeome due ~ad pryrble on policies of tire and otLer 6~sard iasuraace coverina the mortQ~~ed prope*ty.'plus tues ar~d ~sscssments ne=t dne oa the mort- ~aQed properq (~Il •s estimated by the mortgagee) les~ ~11 snms ~Ire~d~ paid there[os divided by ffie number of moaths ' to elapse beEore one month prlo~ to the d4te ~vhea such ~round reata, ptemiums, ta:cs, end assessmeats will become de- ~ linquent, soch sums to be 6eld by mort~~eee ln trust to pa~ said ~rouad ronts. premiuss, t~es, ~ndspecialossessmeats; ' and ~ (c) All paya?ents mentiooed in tbe hw precedinQ subsections oE t6is para~aph au~d all paya?ents to be made nnder the note ~ secured herebr shall be added toQet6er ~nd H~e •~eQ+te ~mount thereo[ shall be paid by the mort~aQor each moath ia a single paymeat to be applied b~ We mortQa~ee to tbe tollowing items in the order set Eorth: (n premium char~es under We coa~act of Lfsurance wlth the Secretary o[ HousinQ and Urbaa Development. or montbly chae~e (in Iien of mortQa~e iasurance preminm), ~s the case m~~ be; (In Qround rents, t~:es. aasesaments, [ire. and ot6er hasard insurance premiums; (I~ interest oo the note sscwred herebp; ~ad (IV) amortlsatiaa oE t6e principal of sald note. Aay deficiency in the amount d sach aggregate moathly peyment shall, unless made good by the moctgagor prior to the due date of the nest such peyment, constitute an event af default under tbis mortgage. The modgagee may collect a"late charge" ~wt to exceed two cents (2~) foc each dollar (SI) of each payment more than fifteea (15) deys in amars to cover the e~ra expease involved ia handling delinquent payments. 3. That if the total of tbe payments made by the matgagoc under (b) of paragraph 2 preceding shall exceed the amount af p~ymeots actuaUy made by the ma~tgagee, fac g~ouad rents, taxes aad assessments and insurence preauums, as the case may be. snch excess shali be credited by the matg,a~eee oa subsequent payments to be mede by the mat~,agor. If. however, the moaithly paymeats msde by the mortga~oS undec (6J of paragraph 2 pre- ceding shall not be sufficient to p~y g~onad renta, tsnes and assessmants and insurance premiu~s, as the case ~ may be, whea the saaoe shall become dne ~nd p~yable, then tbe matgagor sholl pay to the mortgagee aay amount ~ aecessary to make ap the deficieacy, on a beface tbe date w6ea p~ymeat of such stauid rents, toxes. asses~ments, ~ oc insnrance premiuas sball be due. If at any time the moctga~or shall tender to tbe m~t~pgee in accadance with t6e pcovisioos of the aote aecnred bereby. full payment of the eatire indebtedaess represeated theceby, t}re mort- gagee s6a11, ia compntiag tbe amount d snch indebtedness, credit to the acconnt of the mort~a~or oll paymeats ~oade nnder the pcarisipns ot (a) cE p~ragt~ph 2 bered w6ich the mat~atese has aat becoine oblig~ted to p~y to the Secretary d Hoasin~ and Uebae Developaent aad any balance remaining io tbe fuads accumulated ~nder the provlsioas of (b) of said paca~~p~ 2. U t6en sb~ll be a defanlt nndct aay af tbe provlsloas of this moctgp~e. re- sultine in ~ publk sale of tbe pcemises covered ~ecebq, a if the matga~ee acqnices tl~e Property otbe~wise after default, the nat~,a~ee shall apply, at the ties of tbe commencemeat of suc6 prcceedin~ or at the time the prop- uty is othenria~ ocquired. tbe bal~ace thea remaiaing ia tbe fnnds accumulated ~nder (6) oE p~cagropb 2 precedia` as a ecedit apioat t6e amouat ef prlaeipal tLea cemaiain~ ~mp4id ~nder said aote ~nd shall pcoperly odjwt any PoYments w6ic6 sb~ll hwe been made uodec (a) of said ~wca~caph. 4. T6at 6e will p~q aU taxes, assessa~enb, wata ntes, and otbec eovernmentat or ~unicip~l char~es, Eines, c~ Impositlons. Ect w6ich pcavisiao has not beea made hereinbefare, ~nd Io deE~utt thereaf tbe moctsa~ee may pay tt~e saee; ud tlwt be w;u ~~Ciy deti~?er otE~c~at reoeipca t6eeet« co the e«cp~ee. ~i'~3 ~~8 . .