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Home My WebLink About1192 . ~ , `t' ~ ~ . , said anortgago~ does he~eby fully waaant the titltt to seid land. and every p4rt theceof. ond will defend the same a~iast the lawful c3aias of aU peisoas whoosoever. PROVIDFD ALWAYS. ami these pro~en4 ars executed aud delivered npoa th4 fQllo~aia~ coadltia?s. to wlt: Tbe mat~aQa a~rees to pay the mat~~te, a adet, ~ P~~ipal eum ot '1~L~ '~AMD '1~E6 ~ ~at oo/i Dollats (S ~t300.00 ~ as evideaced by a ncte d evea date herewltb. with iaterest from date at the rate of $~~p ~1d OIIO-hal~ per ceatum ( ? 1,~2 Pe~ ~?um aa the unpaid balaa~e until paid. The said principal and interest shall be payable at the oif.ice. of J. T. S?SWAAT M~lIiAG6 CQII'A~7[~ 11tC.~ 3uite 34~"'100 Mi~'acle Kil.e~ Coral 6ablea~ l~lorida a at such other place_ as the holder of the aote may designate in writing. in monthly installments of p~~~gg ~ lp Dollars (S ~•10 commencing on the ticst day of ~ . i969 .~d on the iir~t day oE each aoath theteafter uatilthepriACipe1 and iuterest ace fuUy paid, except that the Eiaal payment of pcincipal and interest, if not soonet paid, shall be due and payable an the first day of 1pi'11,~ 1~ % And sball duly. pranptly, and fally pedorm, discha~ge. execute. effect, complete. and comply with end ebide by each and every the stipulations. agceements, conditioas. and covenants oE seid promissory note and of this mortgage. thea this modgage and the estate hereby cceated shall cease and be nnll and void. And tfie a?ortgagor fuither covenants as follows: ~ ~ ~ ' ~ ~ ~ ' 1. That he will pay the indebtedness, as heceinbefore provided. Privilege is reserved to pay the debt in whole, or in an amount equal to one or more monthly payments on the prlncipal that are next due on the note. on the first day of aay month prior to maturity: Provided, liowever, t6at writtea notice of an inteation to exercise such privilege is given at least thirty (30) days prioc to prepayment; and. provided fudher, that in the eve~t the deM is paid in full prior to maturity and at that time it is insured under the provisions of the NaLioaal Housiag Act, he will pay to the mortgagee an adjusted premium charge of one per centucn (1!6) of the original principel amount theceof. except that in no eveat shall the adjusted premium exceed the aggregate amouat of premium charges whieh would have been paysble if the matgage had continued to be insuced nntil raaturity:' such payment to be applied by the mod- gagee upoa its obligation to the Secretary of Housiag and Urban Developmeat on account of modgage insuraace. 2. That~ in ocder ~oore fully to pcotect the security of this modg,age. the mortgagoc, together with. and in addi- tioa to. the monthly paymeats uader the terms of the note secured hereby, on the first day of each monW until the said Aote is fully peid. will pay to the modgegee the follaaing sums: (a) M amouat suUicleat to provide tl~e holder hereot with fuads to pay the ne:t mortgage inaunnce premium if this instru- meat and the aote secured 6ereby are insured. or • moathly charge (in lieu of a mortgaQe inswance premium) if they ue held by the Secretarr of Honaiag and Urban Developmeat. os tollo~vs: (n U and so loa~ as srid note of even d~te and this insteumeat arc insund 3r are reinaured under the provlaioas of the Natioa~l Housiag Act. an amount sutticieat to accumnlate ia the handa of tbe holder one (1) month prioe to its due dote the anaual mortQaQe inswance premium, ia order to pwvide such holder with funds to pay such premium to the Secretary of Housia~ and Urban Development pucsuaat to tl~e Natioaal Housia~ Act. os ameaded, aad applicable Regu- Iatioas thereuader, os (II) If ~nd so lona as said aote of even date and this insteument ore held by the Secretarr ot Housing aad Urban Develop- ment. a moathly charae (in Ueu of s mortg~ee lnsurance premtum) vvhich shall be ie aa amount equal to oae-hvelfth (1/12) of one-6alf (y~ per ceamm of the averaQe ontstandina balaace due oa We note computed aithout tatina into account dellnquencles or prep~ymeats; (b) A aum eqaal to the Qrouad reats. U aar. nert due, plns the premi~ms that atll aezt become dne and payable on pollcies of tire and other h~sard insuraace coveriaQ the mortgaged properqr. plus tazes and assessments ne:t dne oa the mort- gaQed propert~ (all as estimated bp the mortQaQee) leas all sums olreadq paid therefor divlded by the a~mber of months ! to elapse before oae moot6 prioe to the date ~rhen auch grouad rcets, premiums, ta:es, and assessments will become tle- ~ linquent, such swns to be 6eld by mort~a~ee in Wst to pa~ said ~round reats, premlams. ta~ces. aad special assessmeats; ! ~ i (c) AlI paymeats mmtioned tu the two pcecedina snbsectioas of Wis paraarap6 amd ~il plymenta to be made uader t6e aote ~ aecured hereby ahall be added togeWer and. the a~regate amount~thereof shall be paid by the mortQa~or each moath tn a sL?gle paymeat to be applied b~ the eart~s~ee to tht tollo~rin~ items in We ordcr set torth: ~ (n premium chuges under the contract ~t insunoce tvith the Secretar~ ot Honsiu~.and Urbaa Development. or moat6lr ch~r~e (in Ileu ot mortQage insurance p~~nm). as the case may be; f (In ~round rents. t~es, ~ssessments, tire. ~ad other hu~rd insnnace premiuais; ~ (I~ iaterest on tbe note sec~ued heceb~; wd (IV) amortisatton of the priacipal o[ soid note. Any deficieacy in the amount af such aggregate monthly paymeat shall, unless made good by the mortgagor prior to the due date oE the nent such paymeat, coostitute an event af default under this mortgage. The modgagee may collect a"late charge" not to ezceed two cents (2~) for each dollar (Sl) of each paymeat mae than Etheen (15) days in arcears to cover the extra ezpense iavolved in handling delinquent payments. . 3. That if the total of the payments made by the mortgegor undec (b) of paragraph 2 preceding shall eaceed the amount of peyments actually made by the matgagee, fac g~rouad tents, taxes aad assessmeats end iasurance premiums, as the case may be, such eacess sball be credited by the mortg,ngee oa subsequeat paya~nts to be made by the modgagor. If, hoqvever, the m~thly paymeats made by the moctgagoc uader (b) of paragreph 2 pre- cediag shall not be sofficieat to pey graund rents, taxes aad assessmants and iasnraace premiums, as the case may be, whep the seme shall become due and payable, tbe~ the matgeQoc shall peiy to the moctgagee any amount necessary to muke up the deficiency, on a befae tbe date arhen peywent ~ such gcouad rents, ta~ces, assessments. ~ or insurence premlums shall be due. If at any time the mortgagor s6alltender to the modg,agee in accordance ~vith ~ the pcovisions of the note secured hereby, full payment of the entire iadebtedness repceseated thenby, tbe awrt- gaBee shall, in compntiag the aawunt aE snch iadebtedness, credit-to the acconnt of the moctgagor all pQymeats made nnder tlu pravisioos of (aJ af pnragRaph 2 heceaf ~v6ich the aatg,ogee h4s aot become oblig,ated to pQyto . the Seccetery of Honsing and Urban Development aad any b~lance remaining in the fnads accumulated uader the pmvisions of (6) af aaid parag~rapb 2. If there ahall be a default nnder any of the pcovisioms of this mort~,age, ce- sulting in a pablic sale of the pr~mises covered :xceby, oc if the matgagee acquires the property otherwiss after defantt. the mat~egee shall apply, at the time of tbe commencement of such proceedings or at the time the prop- ecty is othenvise acqnired, the balanoe then renaining in the fnnds accumulated under (b) of parag~aph 2 preceding as a credit agpiASt tbe amonaR of principal tl~ea remaiaing unpa~d under said aote and shall properly edjust any payments ahich a6a11 hive been made aader (dJ of aaid para~aph. _ 4. That be wiU pay all ta:es, assessnents, water rates, aad dber govemmentel a muaicipal charges, fines. or impositioos, for ~vhich pravision 6as aot been made hereinbefae, and in default tbereof the modgagee m~y pay the seme; aad tbat he wiU praaptly deUver the offic~al receipts therefor to the mortgpgee. ~ 8«~ 17~ . C~ : _ ~ ~ s~ . _ _ ~ - x~ - - - - _ rr:4. _ ;.y`~_-~