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Home My WebLink About1050 a . ~ ~ # j ~ ~ s said mort~,e~a does hereby fully ~varrant the title to said laAd. aad every part thereof. and will defend the same against the lawful claims af all persoos whomscevec. PROVIDBD ALWAYS. end theae pceseats are executed ~?nd dellvered upoa the follawiag coaditioas. to wlt: The ~no~t agor a ees to y the matg,~gee. a ader. !he priacip~l sum ot '1WELVS '1'liOUSAND '.['HRE~ auxn~ aN~ No/~'oo polars 12 ~ gQQ ~ QQ as evideaced by a note of evea date becewit6, with iatecest from date at the rate oE g~e & Tbree Fourths per cenc~m ( 6 3/4 per anaum aa the uapeid balaace until paid. Th~ said pciaci~wl and iatereat shall be payable at the office of • ` ATII~O FINANCIAL OOBPORATI~1 P..O. Box 3131, Miam~, Florida oc at such other place as the holdec of ihe note may designate in wtitin . in moathly installmeats of $EVENTY _ NINS AND 83/100--------------------Dollars (t 9.83 commeacing on the.first day oE j~JgrCb . 1969 . end au t6e first day of each month thereaftac uatilthepcincipel aad iaterest ace fuUy paid, except that the fiaal paymeat of principal aad iaterest, if aot sooaer peid, shall be due apd ~yab~e oa che t~t aay of February : 1999 And shall duly. pr«aptly. and.fully pedorm, discharge. execute. effect. complete, and comply with and abide by each and every the stipulations, agreements, coaditions, aad covenaats of said pcoa~issory note and of this modgage. thea this mortgage and the estate hereby created shall cease and be null and void. Aad the mortgagor fwther covenaats as follows: 1. That he will pay t6e indebtedness, as 6ereinbefore provided. Priirilege is reserved to pay the debt in whole. or ia aa enwunt eqwl to one or mae monthly paymeats on the principal that arc next due on the note, oa the first day af aay month prior to awtucity: Provided. however, that written notice oE an inte~Rion to execcise such privilege is given at least thlety (30) days pria to prepayment; aad, provided further~ that in the event the debt is paid in full prioc to maturity and at that time it is insured under the provisions of the National Housing Act, he will pay to the mottgagee an adjusted pcemium charge of oae per centum (1'J6) of the original principel amount thereof. except that in no event shall the adjusted premium exceed the aggregate amouat of premium c6arges ahich would have been payeble if the mortgage hed coatinued to be insured nntil matarity; such peyment to be applied by the mort- gagee upon its oblig,atioa to the Secretary of Housiag and Urban Development on accouat of modgage u?surance. 2. That. in order more fully to protect the secnrity of this mo~tgage, the mortgagor, together aith, and in addi- tion to, the monthly payments uader the terms of the note secured bereby, on the first day of each month until the said note is fully paid, will pay to the mortgagee the following sums: (aJ Aa amount sufticient to pmvide t6e 6older henot aith fnnds to pay the ne~ct mortgage insurance premium if this insw- meat and t6e note secured hereby are insured. or • oonthly chasQe (ia lieo oE a mortgage iaswance premium) it they are held br the Secretary of Housing aad Urban Developmeut, as tollows: (I) U and so lon` as said note ot even date aud this instiument are insnred or orc reinsured uader the provisions of the Natioaal Honsiag Act, an amount sufficient to accumulate in the 6aads of the bolder one (1) mo~th prior to its due date t6e annual mortgage fasnraece premlum, in order to pwvide wc6 holder wtW [unda to pay suc6 premium to We Secretaq o[ Housing sad Urban Develapaeat punu~nt to We Nation~l Housiag Act. as amended, and opplicabie Regu- latioas thereunder; or (II) If aad ao long as sald aote of even date aad this inst~umeat ue held br the Secretaq o[ Housing aad Urban Develop- ment, a monthly charge (in lieu of a mortgage iasurance premium) which ahdi be in an amouat equol to one-twel[th (1/12) of one-6alf (yS) per ceatum of the •verage outstaading balance due on We note computed althout taking into accouat delinquencies or prepaymeats; (A) A aum equal to the ground reats, it any. aext due. plus the premiums th~t will ne:t become dne and payable on policies I of [ire aad other hozard iasutaace covering the mortgaged pwperty. plus tazes and assessments next due on the mort- ~ gaged property (all as estimated by the mortgagee) less all sums alrepdy paid therefor divided by t6e number of moaths E to elapse before ~e moath prior to the date when such ground rents, premiums, tazes. and assessments will become de- ! linqueat, such sums to be held by mortgagee in trust to pay said ground rents. premiums, tr:es. pad special aaaessmeats; 4 oad (c) All paqments mentioaed in the t~vo preceding aubsectioas of this paragraph and all payments to be mode under the note secured hereby shall be added together and the aggregate amount thereof sholl be paid by the mortgagor eath month in a single p~ment to be applied br the mortgagee to the iollowiag items In We order set forth: (n premium• charges under the cootnct oE insurance aith the Secretary ot HousinQ and Urban Development, or monthly c6ar~e (in lieu ot mort~+ge insuraace premium), •a the c~se may be; (II) Qround reots, t~:es, aasessmeats, [Ire. and other h~zard insuraace premiums; (III) Interest on We note secured hereby; and (1~ amortization o[ the principal o[ said note. Any deficiency in the amount oE such aggregate monthly payment shall, unless made good by the mortgagor prior to the dae date of the next such payment, coastitute an event of default under this modgage. The mortgegee may collect a"late chaige" not to exceed two cents (2t) Eor each dollar (Sl) of each peyment moce than fikeen (15) deys in errears to caver the e~re espense iavotved in handling delinquent payments. 3. That if the total of the peyments mede by the mortgegor under (b) of paragraph 2 preceding ~hall exceed the amount of payments actuelly made by tl~e mortgsgee, fa Bround cents. taxea and assessments ond insurance premiums, es the case may be, snch e:cess shell be credited by the mortgagee on subsequent payments to be made by the mortgagor. It, hc~wever, the monihly payments iaadr by the matgagor under (6) of paragraph 2 pre- ceding shall aot be sufficient to pay grouad rents, tazes and assessmants aad insuraoce premiums, as the case ~ may be, when the same shell become due and peyable, then the mortgagoc s6a11 Qay to the moctgagee any amouat ~ necessary to make up the def iciency, on a befae the date rvhen payment of such ground reats, taxes, assessments, or insurance premiums shall be due. If at any time the mortgagoc shalltender to the mortgagee in accadance with the provisions o[ the note secured hereby, full poyment of the e~ire indebtedness represented thereby, the awd- gaQee sholl, in canpoting the aewant d auch Indebtedness, credit to the a^_connt of the mortgagor all payments nwde under the provisioos of (u) d poragcapb 2 bereaf whic6 the martgagee has not become obligated to pey to the Secretary ot Hou.sing and Urban Devetopmeat and aay balance re~aaining ia the tunds accumulated under the provisions d(b) of said paragraph 2. If there shall be a default ueder any of the provisia~s oE thia moctg,ege, re- sulting in a public s~le of the premises covered hereby. oc if the moct~agee acquires the propedy othenvise atter deEault, the matgagee sl~ali apply. at tbe time d the commence~oent of auch ptoceedings or at the tia~e the prop- edy la othernrise acquired, the bolaece then remaioing in the funda accumulated ~ndec (6) oE paragrapb 2 precedins as a ctedit a~,ainst tbe aa~ouat of pcincipol thea rem~inin~ unpoid uc~der said aote and ahall properlyadjust aey payeients wh~6 sball have beea made under (a) d said pta~raph. ~1. That he will pay aU ta:es, assessments. watec cttes, and other governmental or municipal c6ar~es, iines, a impositioas. toi whic6 pravision has aot beea w~de he~einbefatt. ~nd in default thereof tbe mat~~ee maY P~Y tl~e same; ard tbat he will promptly deliver the dtici~l reoeipts thetetot to tl~e mortpgee. ~~17~ ~~U47 ~ . . - . .,-~.~Y, - ~ , ~ r.. ~ ~r ~r ~ x ~ ~ _ , _ ~ e--~