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said matgagor does heceby fully ~rarraat the t3tle to said land. and every pert theceof. and will defend the same
against the lawful clauns of all persoas whomscever.
PROVIDED ALWAYS, and these presents are executed and delivered npoa the follorving coaditioas. to wlt:
The mcxtga or agtees to y the moctgagee, ix ordec. the principal sum of S~iteell thouaand tWo
hwndre~ and No~100
Dollars (S 16 ~ 200.00 as evidence~3. by a note of evea date hecewith, vvith inter~t fcom date at the
rate of S~.X AQd t~'P.B~f Ot1Tth~r centum ( 6"g~4 per ~nnum oa the uapaid balance
until paid. The seid principal aad iaterest shali be payable at the office of ATIQO FII~IANC7AI+
OORPORATION, a corporation under the laws of the State o! Dela~are,
P. 0. Box 3131 ~ Miaaai, Florida
oc att such other place as the holder of the note may designate in writing. in monthly installments of OAe hundred
f i~e. ~d 1~,100 ~~~~~~~~~•~~"~~'~~ww ~0118[8 ~t 105~14 COQl10C[1Clflg OQ
the first day of ApT ~1 . 19 69 . and on the first day of each moath theceafter uatil We principal
aad interest are fuUy paid, except that the final payment of principal and interest. if not sooner paid, shall be due
and peyable on the first day of MprCh ~ 1999 ;
And shall duly. pranptly~ and fully pecform. dischacge~ execute, effect. complete, and comply witb end sbide
by each and every the stipulations, agreements. conditions, and cave~ants of said promissory aote and of this
mortgage. theri this m~rtgage and the estate heceby created shall cesse and be null and void.
And the mortgagor furtker 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 amouat equal to one oc mae monthly p~'ments on the principal that ace aext due on the note. on the first
day of any month prior to maturity: Provided, however. that written notice of an inteA!'fon to exercise such privilege
is given at least thirty (30) days prior to prepayment; and, provided fudher, that in the event the debt is peid in
full prior to maturity and at that time it is insured under the provisions of the Natioaal Housing Act. he will pay to
the mortgagee an edjusted premium charge of one per centum (196) of the original principel amotud thereof. except
that in no event shall the adjusted premium exceed the aggcegate amount of premium charges which wonld have
beea payable if the mortgage hsd continued to be iasured until meturity; such payment to be applied by the moct-
gagee upon its obligation to the Secretary of Housiag and Urban Development on accoant of modgage insuraace.
2. That. ia order more 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 nd.e secured hereby, on the first day of each month until the
said note is fully paid, will pay to the modgagee the follawing sums:
(aJ An amount suftlcient to provide the holder hereof with tunds to pay the Ae:t mortga~e iasurance premium if this instcu-
meat and the aote secured hereby are insared, or a monthly charge (in liea of a mortgage insurance premium) if they are
held by the Secretary of Hoasing and Urban Developmeat, as follows:
(I) It and so loag as said note of even date and this inattumeat are iasured or arc reinaured under t6e provisioas o[ the
National Housing Act, an amau?t suf~cieet to accumulste in the 6ands of We holder one (1) moath prior to its dne
date the aanual mortgage insusance p~emium, in order to provide such holder wriffi tunds to pay suchpremium to the
Secretary o( Housiag and Urban Development pursuant to the Natioaal HousiaQ Act, as amended, aad rpplicable Regu-
latio~s thereuader, or
(II) It and so loag ~s said oote of evea date and this inatrumeat are held by the Secretary of Houaiag and Urban Develop-
ment, a moathly charge (in lieu o[ a mortgage inaunnce premium) which shall be in an amount equal to one-twelfth
(1/12) ot one-half (yi) per ceatum ot the average outstanding balance due on the aote compnted wiWout taking ir.to
accouat delinquencies or prepayments;
(b) A sum equal to the gro~md rents, it any, aext dne. plus the premiums t6at will nezt become due and payable on policies
i o[ fire and other hazard insurance cove~ing the mortgaged,Rroperty, plns tases and asseasmeats next due on the mort-
gaged ,property (all os estimated by the mortgagee) less alf sums already paid therefor divided by the number of moat6s
~ to elapse be[ore one month prior to the date when such ground rents, premiums, to:es, and ossessments will become de-
` linquent, such sums to be held by mortgagee in tcust to pay ssid ground rents, premiums. ta:es, aad special assesaments;
and
(c) All payments mentioned in the two precediag subaectiona ot this parograph and ail paymeata to be made mder the note
secured hereby shall be edded together and the aggregate amount thereof shall be paid by the mortgagor each month in a
single payment to be applied by the mortgagee to the following items in ffie order aet torth:
premium charges uader the coatroct of insurance with the Secretary of Housing and Urban Development, or monthly
R charge (in tieu of mortgage insutonce premium). os the case maq be;
~ (II) ~round reats, tazes. assessmeats. tire, and other hazard insurance premiums;
(III) interest on the note secured hcroby; and
(I~ amortization of the priacipal o[ s~id note.
Any deficiency in the amount af such aggregate monthly payment shall, unless made good by the mortgagor
prior to the due date of the aext such payment, coastitute an event af default under this mortgage. The mortgagee
may cotlect a"late' charge" not to exceed two cents (2e) for each dollar (Sl) of each payment more than fifteen
(15) days in acreacs to cover t6e extra ezpense involved in handling delinquent payments.
3. Thet if the tdal of the peyments made by the moctgagoc under (6) of paragreph 2 preceding shall eaceed
the amount oE payments actually made by the matgagee, for ground rents, taxes and assessments and insurance
premiums, as the case may be, snch excess ahall be credited by the mortgagee on subsequent payments to be
made by the mortgagor. If, however, the monthly payments made by the matgagor under (b) of paragraph 2 pre-
ceding shall not be sufficient to pey gtound rents, texes and assessmants and insurance premiums, as the case
may be, when the same shall become due and peyable, then the mortgagor shall pay to the moctgagee eny amount
necessary to make up the deficiency, on or before the date when payment of such gcound reats, taxes~ assessments,
or insurance premiums shall be due. If at eny time the matgago~ shal! tender to the modgagee in accordance with ~
the provisions of the note secured hereby, fulf psyment oE the entire indebtedness repcesented thereby, the mod- '
i
gagee shall, in computing the amouet of such indebtedness, credit to the account of the mortgagor all payments ~
made under the pravisions of (a) of perag~raph 2 hereof vnhich the mortgagee 6as not become obtigated to pey to
the Secretary of Nousing and Urben Developmeat and eny balance remaiaing io the funds accumulated under the ~
provisions of (6) oE said paragcaph 2. If there shall be a deEault under any d the pcovisio~s of this mortgage, re- ;
sulting in a public sale of the premises covered hereby. oc if the matgagee acqulres the property otherwise after
default, the matgagee slwil apply. at tbe time oE the commencement of such proceedings or at the time the prop-
ecty Ia otherpise acquired, the belance then cemaining in tbe Eunds accumulated under (6) of paragraph 2 pceceding
as a credit ag,ainst the amoaat of principol tben remaining uopoid under said note and shall properlyadjust any
payments w61ch shell have been mede under (a) af said pora~roph.
4. That he will pay all taxes. assessments, water rates, and dber governmental or municipal charges, fines.
a impo~itiaas. Eor which proviaion has not beea awde heeeiabefare, end '}n de{s~lt ttieceof tbe mortgogee may poy
the same; and that he will proeoptly deliver tbe oEfici~t receipts tbereEoc ta the mort~pgee.
~ ~ 174 P~ 190 ~ ~
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