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Home My WebLink About2567 ; . ~ , ,,r~ ~ . ~ said mortgagor dces hereby fully ~varraat the title to said lend. u~d every p~rt thereof, ead wlll defead the same egaiast tbe la~rful claims of all persoas whoaasuevec. PROVIDED ALWAYS~ and these pceseats are exccuted ~ud delivered upoa the followiag condltions, to wit: The matgagor agcees to pey the matgpgee, a ordec, t6e pcincipa! su~+ of F~,fteen thOLiiead niae hundred and No/100 ~ pollars (S 1S ~ 900.00 as evidcnced by a aote of evea date hece~vlth, with iat~t ftom date at the cate oE ~~i end three-f ourths per centum ( 6-3~4 per anaum oa the uapaid balance uatil paid. The said pciacipal aad iaterest shall be payabls at the office oE ATIO~ FINANCIAI. . OORPORATION, a corporatioa uader the laWe of the State of D~lavare, P. 0. Box 3131, Miami, Florida or at such ot6er place as the holder of the note may desigaate ia ariting, in monthly installmeats of ppe hundred three and 19/100------------~----- i;otl4cs (t 103.19 coma~encing on the first day of November , 1~8 . and on the first day of each month theceaftec untiltheprincipal aad interest are fuUy paid, except that the final payment of principal ead interest, if avt sooner poid, shell be due and payable oa che first aay o~ October, 1998. : And shall duly, pranptly, aad fully pedorm, discharg4. execute, eEfect. completa. and comply ~rith aad abide by each and every the stipulations, ag~reements. conditions, ead covenants of said promissocy aote aad of this modgage. thea this mortgage and the estate hereby created shall cease and be null and void. - And the matgagoc fuither covenants as follows: 1. That ha will pay the indebtedness, as hereinbefoce provided. Prit?ilege is ceserved to pay the debt in whole, or in an amount eqnal to one or more a~onthly paymeats on the principal that ace ne:t due on the note, on tbe first day of any ma?th prior to meturity: Provided, however. that writtea actice of an iateiRion to execeise such privilege is given at least thirty (30) days pria to prepaymeat; and. provided fucther, thet in the event the debt is peid in full prior to maturity and at that time it is insured under the pcovisions of the Natioaal Housing Act, he will pay to the modgagee an adjusted preaiium charge of one per centum (1%) of the original principel amount thereof, except that ia no eveat shell the adjusted premium ezceed the aggregate emount of premium charg,es which would have been payable if the mortgage had continued to be iasured until matncity; such payment to be applied by the moct- gagee upoa its obligation to the Secretacy of Housing and Urban Development on account of modg,age insursace. 2. That. in order awre fully to protect the security of this mortgage. the mortgagor, togethet with, and ia addi- tioa to. the monthly payments w~der the terms of the note secured hereby, on the first day of each mont6 until the said note is fully paid, will pay to the mortgagee the follawing sums: (a) Aa amouat sutfictent to provide the holder hercoE aith tunds to pay the aezt mortgaQe iasurance premium if t6is iastru- menl and We note secured hereby ~re insured, or • moathly chorQe (la lieu of a mortgage iasnrance premium) if they are held by t6e Secret~ry of Honsin~ and Urban Development, ¦s foUows: (I) II~ad so long as said aote of eve4 d~te and this instrument ore iasured or are reinsured mder the proviaioas of the N~tional Housing Act. an amount su[~cien! to accumulate in the hands of the holder one (1) moath prior to ita due ~ date tbe annuol mort¢a~e insurance premium, in order to provide such 6older With tunds to p+iy suchpremium to the Secretarp of Housing ond Urban Development purauant to the Notioaal Housing Acc. ~s amended, and applicable Rega- lations theeeunder. or ' (II) U+wd so long aa aaid note of eeen date pad this instrument ore held by the Secretuy of Housing and Urban Develop- ment. a moathly charge (in lieu ot a mortgage insurance premium) whlch ahall be in aa amount equal to one-twel[th (i/12) of oae-hal[ (yi) per centum of the average outstanding balaace due on the note computed without tolcing into ' •ccount delinquencies or prepayments; ~ ~ (b) A swn equd to ffie ground renta, iE any, next due. plus fhe ptemimas th~t wrill aext become due and payabte oa policies ~ of Cre and other hasard insarance coveriag the mortgaged p~operty. plus ta:ea ~nd assessmeats ae:t due on We mort- ~ gaged propectp (aU as estimated by t6e mortgagee) less ~Il sams alreadp paid tberefor divided by the number ot moatha j to elapse before one moath prlor to the date when such ~ound reots, premiums. taxes. aad asaessmeats will become de- - ~ linquent, such suma to be held by mortgagee in tn~st to prr said gwuad rents, ptemiums. tues, and special asseasmeats; ~ aad ~ (c) AU payments meationed in the two preceding snbsectiona ot this pataQt~pb aad all paymeats to be mede under the note secured hereby sholl be added together and tl~e a~e~~te amount thereof sha11 be paid by the mortgagot each moath in a single payment to be applied by the mortgagec to the follo~ria~ items in the order set fortb: ~ (n premium charges under the contract of ins~rance ~rith tbe Secretarp of Housing and Urban Development, or monthly cbarge (in lieu ot moKgaQe insuraace premium), •s the case may be; (In a,wuad rents, tanes, sssessments, fire, ~nd other hazard iasurance premiums; (IIn laterest on the aote secured herebr; and (I{~ amortis~tion ot the priacip~i oE said note. Any deEiciency in the amount of such aggregate monthly payment shall. unless made good by the mortgagor prioc to the due date oE the ae:t such peyment, ca~stitute an event af default under this moctgage. The modgagee may collect a"late charge" not to e~cceed two ~centa (2~) fa.each dollar (SI) of esc6 payment more than fifteen (15) days in arrears to cover tbe extra e:pense involved ia handliag dellnqueat payments. 3. Thet if the totol of ~the peyments made by the mortgagot tuider (6J of paragraph 2 preceding shall exceed ~ the amount of payments actually made by the matgagee, for gROUnd tents, taxes and assessments and insurance premiums, ~s the case mey be, such e:cess ~hall be ccedited by the aiatgagee oa subsequent payments to be ~ made by the mortgagor. If, however, the monthly payments mede by the mortgagor under (6) of paragraQh 2 pre- ~ h ceding shall nd be sufticient to pay gRonnd cents. taues and azsessm~nts and insureace premiums. as the case ; ~ may be, when the sieme shell become due and poyable. thea the matgagor sball pay to the mortgagee any amount ~ ~ necessary to awice up the deficiency, oa a befae the date wben payment of such g~ound cents. toxes, assessments. ~ or insureuce premiums shall be due. If at any time tbe moctgaga sball tender to the mortgagee ie accordaoce ~rith the pr~risions af t6o note secured hereby, full payment oE the entire indebtedness repcesented therebq. the mort- gagee s6a11, in computing the •mount of sach jndtbtedness. credit to the account of the matgagor ali paymeats a~rde under t6e pravisiens of (aJ at paragcoph 2 6ereof ~rhich the mactgagee has not becaae obligated to payto tbe Sec•etary d Nousing and Urbaa Development ond any balance cemaiaiag ia tbe fuods acxuvulated undec the proviaions af (6J of said paragraph 2. If there shall be a de[ault undec any d the pcovisioas o[ this moctpge~ ~r sulting ie a public sale of t6e p~eoises covered heceby, or if the matga~eee acquires the property otherwise after default, the matgagee s1w11 apply, at t~ time oE tbe commencement of such proceedings ar at tbe time tbe prop- erty is otherwise acquiced, the bolance thea remainiag in the fnnds accumalated uader (b) of pocsgrap6 2 prcceding as • credit ag~tlc~t tbe amouM oE principol thea re~otining unpoid undet said note and shall properlyadjuat onr poymeets ~hicb aball bave b~en made under (aJ af said poa~raph. 4. That be wiU p~y all ta:es, assessa~ents, wata retes, ~ad ath~r governaiental ot muaicipal charges, fiaes, « imposjtioas. fo~ whicb pravision has aot beea oode bereinbeler~, :ad ia detoult tbered the matgaeee maY PoY tbe saioe; and that be will pcomptly deliver tb~ dficiol receipta tbeeetor to tbe mortgp~ee. ~ • - _ -~~w~,__..:~_~u.,...~~~ _ - W ~ ~-~-f~._~~~. _