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said :.~:_~~;gor dces hcreby fully wauant the title to said land, and evecy part thereof. attd will defend th~ same
against the lawful cleims of all persons whomsoeve~.
t'ItU~'[DED ALWAYS, and these presents are executed and delivered upon the followiag conditlons~ to wit;
Ti.a moctgagor agrees to pay the matgagee. or order. the prtncipal sum of
31~~i THCRTS~dND 3IX flQriDRED and Np~100------------•----------------------..------
Doll:.rs ts 16,600.00 as evideaced by a nvte of even date herewith. with intecest from date st the
rate uf S~IX 8~rid Tffi~C-FpURT$ per centum ~ 6 3/4 9L) per annum on the unpaid balance
until ~...~d. The said princlpal and interest shall be payable at the office of J• T. $~IiT MQ~1'GAG$
C~~ANY, INC. ~te 300-100 Mtraale Mile, Caral Gablea~ FloMds
or at a~~li uther place as the hold r of the note may designate in writing. in monthly installments of
~E HIINDRED SEyffi~ ~nd 73f100------------- Dollars (S 107•73 com~aencing on
the [i~~t day of NOVember , 1968' . and oa the first day of each month thereafter untiltheprincipal
and interest are fully peid, except that t1~e final payment of prinripal end taterest~ if not sooner paid, shall be due ~
aad pa~~able on the first day of Oatober~ 1~8 ;
And shall duly. pranptly, and fully perform, discharge. execute, effect~ complete. and comply with and abide
by each and every the stipulations, agreements. conditions, ~nd covenants of said pcomissory note and of this
mortgage, then this mortgage and the estate hereby created shall cease aad be null and void.
And the mortgagor fucther covenants es follows:
1. That he will pay the indebtedness, as 6ereinbefore provided. Pri'vilege is reserved to pay the debt in whole,
or in an amount equal to one or moce monthly peymeats on the principel that are nexf due on the note,~o~ the first
day of any month prior to maturity: Provided, however, that written notice of an intention to exercise such privilege
is given at least thirty (30) days prioc to ptepayment; and, pcovided fudher, that in the event the debt is paid in
full prior to maturity and at that time it is iasured under the provisions of the National Housing Act. he will pay to
the mortgagee an adjusted premium charge of one per centum (196) of the original principal amount thereof, except
that in no event shall the adjusted premium e:ceed the aggregate amoant of premium charges which would have
been payable if the modgage had continued to be i~sured until' maturity; such paymeat to be applied by the mort-
gagee upon its obligation to the Secretary of Housing and Urban Development on account of modgage insurance.
2. That. in ocder awre fully to protect the security of this modgage, the modgagor, together with~ and in addi-
tion to, the monthly paypsents w~der the teraas of the note secured hereby, on the first day of each month until the
said note is Eully paid, will pay to the modgagee the follawing sums:
(a) An amount suf(icieat to provide the holder hereo[ with funds to pay the ae:t mortgage ineurance premium if this instru-
ment and the note secured hereby ore inswed. or a monthly charge (in lien ot a mortgage iasuraace premium) if they are
held by the SeCret4r~ of Housiag and Urban Developcoent. as folloas:
(I) If and so long as said note o[ even date and this insttument ~re insared or are reinsured under We provisions of the
National Housing Act, aa amount suf~cieat to accumulate in the haads of the holder one (1) month prior to its due
date the annual mortgage insuraace premium. in order to pmvide suc6 6older aith funds to pay such premium to the
Secretary of Housiag and Urban Development pursuant to the National Houaing Act. os amended. and applicable Regu-
latioas thereuader; or
(II) IE and so long as said aote of even date aad this iastmmeat are held br the Secrctary of Housing and Urban Devetop-
ment, a monthly charge (ia lieu of a mortgage insurance premium) rvhich adall be in an am~unt equal to one-twelfth
(1/12) ot oae-6olE p/S) per ceatum ot the average outstaading balaace due on the note computed ~vithout taklog iato
account deilnquencies or prepaymeats;
(b) A sum equal to the ~ouad rents, if any, aezt due, plua the premiums that will ne:t become di.e and payable on policies
o( Cue and other hazard insurance covering t6e mottgaged property, plus to:es and essessmeats ne:t due oa the mort-
j gaged property (oll as estimated by the mortgagee) less all suma alreadp paid Weretot divided by the number of months
to elopse betoce one month pdor to the date whea Buch grouad rents, premiums, tazes, and asseasments will become de-
f linqueat. such sums to be held by moKgagee ia tiust to pay said ground rents, pceminms. tazes, ond special essessments;
9 and
E (c) Ali payments mentioned in the twro preceding subsections ot this paragraph and all payments to be m~de under the note
` secured herebq shall be added together aod t6e aggFegate amount thereo[ shail be paid b~ tt?e mortgagor each month in a
single payment to be applied by ffie mortgagee to the [ollo~ring items ia the order set [orW:
(n premium charges uader the contract of iaswance with the Secretary of Housing and Urban Development. or moathly
ch4rge (in lieu ot mortgage inauraece premium), os the case may be;
(II) ground reats, tazes, assessments, Cue, aad other hazard insurance premiums;
(II1) interest on tlie note secured hereby; and
(I~ amortisaflon of the priaclpol of s4id note. . _ ~
Any deficiency in the amasnt af such aggregate monthly payment shall, unless made good by the mortgagor
prior to the due date of the next such payment, constitute an e~eent of default.under this modgage. The mortgagee
may collect a"late charge" not to exceed two cents (2t) for each dollar (Sl) of each p~yment more than fiEteen
(15) days in anears to cover the extra e:peose involved in-handling delinquent payments.
3. That if the total of the poyments made by the mortgagor nnder (b) of paragraph 2 pceceding shall exceed
the amount of payments actually made by the matgagee, fa ground rents, taxes and assessments and insurance
premiums, as tbe case may be, such e:cess s6a11 be credited by the mortgegee on subsequent payments to be
made by the mortgagor. If, however, the monthly payments made by the moctgagor under (b) of paragraph 2 pre-
ceding shail not be sufficient to pay g,~ound rents, taxes and essessmants aad insurance premiums, as the case
may be, when the same shall become dne and payable, thea the moctgagor shell pay to the modgagee any amount
necessary to melce ap the deficiency, on ac befae the date when payment of such ground rents, taxes, assessments,
or insurance preminms shall be due. If at any time the mortgagoc shell te~er to the modgagiee in accordance with
the provisioas of ffie note secured hereby, full peyment of the entire indebtedness repceseAted thereby, the mod-
gagee shall, ia computing the amount d such iadebtedness, credit to the accouat of the mortgagor all payments
made nnder the pravisions of (aJ af paragcaph 2 hereof which the moctgagee has not become obligated to pey to
the Secretsry of Housing and Ucbaa Development and any balance remaining in the funds accumulated under the
provisions of (b) of said paragreph 2. If there s6a11 be a defanlt uader sny of the provisions of tbis mortg~ge, re-
sulting in a public sale of the premises covered ~ereby, oc if the moctgagee acquires the propecty otbecwise after
defeult, the mortgagee shall apply, at tbe time of the coaimencemeat of such proceedings or at the time the prop-
edy is othenvise acquired, the balance thea remaining in tbe fnnds accumulated uhder (b) of paragraph 2 preceding
as a credit against the amount .of priqFipal thea remaining uapaid ~adet said note aad shall properly adjust aay
• pay~nents which shall have been made ~nder (a) of said pacagraph. ,
4. That he will pay all ta:es, assessments, water rates, aad ather governmental oc municipal charges, fines.
' or impositions, for ~vhich pravisioa has aot beea made hereinbefoce, and ia default thereof the mortgagee may pay ~
, . the aame; and that be will promptly deliver the official receipts thertfor to We modg,agee. ?
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