The URL can be used to link to this page

Home My WebLink About1197 1 ~ . ~ _ . I ~ ~~~~ise - '~aid` mae,~u doea hereby. fully x~innt ~tie title to'sa~d i~nd.'~ad e~ei~ p~~~ tl~rcu~- and nrill ~eten~# ~he sa:n~ .,gain~t tne I~ful rl~in~•of all per~eu~s whom~aevet. • • . . ~ : . ' . • ; • , . . , . . . • . , - ~ _ ,:r .f . . . • . . . .PPOVIDEQ=~AL1'AYS: erd~ thes~?~~pee~eets ~?re 'executed ~nd ~delit~red opra tfie •fdllawtoR condit[ons. ~t4 i~i4: ~ The ~?atB+~6a ~R~~~~o P~Y ~he ma~Ra~ea. a order:.~he principal 3am lNDt1'~`~ SIZ ~ ~o~ms~ awat oo~i ~ ~ Dothas ~t Q p.pp as e.Nfern:~d by ~a ~eae`oi evea date her~rlt6, ~itli~tatue~t t~om dpt~e~ ~t tb~ wts at 3d~~O11 atld'OIIA~hel~' - Pet ce~um :'j 1~2~) Per annua+ on cbe unpaid balance until p~id~ 'M~e esid~principel tnd inte~est Rheil bt paya?le et tb~ oifie! of•' ~ ` . - - . , . - • " T. ~T$MAA! ~ llO~G6 C~E'All~, ]~IC. ~ S~.te ~00 3AQ li~.ra~le ~i~st; Coral tisl~~e~~ 1~'lrorida or at sucb ctAe~~plAOs ss th~ b~ldet, vi~the note awy designate in writing. in monthly inslaliments of ' I~IIiE'!?~1~"19a ai1d. 2~lj - ` ~ - "-11ara (t9+~•Z0 : ~ , . ' , : • - comeiencing oo~ the Nnt d~ry oE• ~ wp~il • 19~. and u~ the~ tlrst dey' of each moMN thereafter untiftAe priticip~l and interoat ara fa11y p~id, excspt tlwt the finel paYaient ot pNncjpal ~~ii interest. ii not sooifer ppid: ~hall'be ~ue ana Payebte on tt~e=itcst aay~oc 1[archt . lqgq ~ - , _ . . ~ . . ~ . And ahell duly. proaptly. snd fnlly pertaa~,•discharge.:e.~ce~wte. effect. complete, and comply Mrith and al~ide by each and every the stipulatioas. egrrements. conditions. and couenents af said promissory aote and of this modgage,~the~ this moctgege and~the eatate heteby created shall cease and be nnll ~anil~void:~ And the cnortgagar fuHher covenants es follows: 1. Thet he will pay the Indebtedness. as hereinbefore pcovlded. Privilege is reserved to pey the debt ia whole. or in an a~rtount equal to o~e or more monthly payments on the principal that are next due oa the note, on the Eirst day of any month prior to maturity: ProridPd. hq~rever~ that wtitten notice of an intenlion to execcise such privilege is given et teast thirty (30) days priot to prepayment; and, provided fudher, that in the event the debt is peid ia ful! prior to maturity and at that time,it is iasured u»der the provisions of the National Housiag Act~ be will pay to the modgagee an edjuisted premium.charge of oae per centum (19G) of the original princiQal amount thereof. except thet in no event s6a11 the adjusted premium exceed the aggregate amount of premium charges which would have been payable if the aiortgege bad continued to be insared until maturity; such payment to be applied by the moct- gagee upon ita obligatioa to the Secretary of Homing and Urban Development on account of mortg,age insurance. 2. That, in order ~ae fully to protect the security of t6is mortgage, the mortgagor. together arith, and in eddi- tion to, the monthly paymeats under the terms of the note secured heceby, on the first day of each month until the said note is fully peid, will pay to the modgagee the follaving sums: (01 An smount suftic;eot to provide lbe 6older hereot wlib tunds to pay the nezt mortgege insuronce premium it this instnr ment ~nd tbe aote secoced hereby ~re inswed, oc • monthly chuge (in lleu of a mort~age insurance pree?ium) i[ ther are held br the Secretary of Honsins aad Utban Development. •s follows: Q) I[ and so loaa u s~id note oI even date and ihis insttument are iasured or are reinsured under the provision~ ot We Nationa! Bouslo~ Act. an ~munnt snfticient to accumul~te ln the haads•of the holder one (1) month prior to its dne date the annual mortg~ge iesnraace prem~um, ia order to provide such holder with funds to p~y sucbpremium to tbe Secretary of Hoosin~ apd Urban Deveiupmrnt p~vsuant to the Aiational Housing Act. as amended. and applicable Regn- latioas theteuader or (Ih lf and so lon~ as said not~ af evea date and this instr~ment ~re held by the 3ecretary of Houaing aad Urben Develop- . ment, a moathl~ e6er~~ (in lien of a_ mortga~e insuance prcmium) which shsll be in aa amomt equal to one-t~reltih (1/l2) oi ona-halt (yS) per~centum of the aveage outstanding b~lance dae on the notc computed without takin~ into ~ccouat d~linqueocies or prepafineots; (b) A sum equat to tbe_ ~romd reats, it any, ne!ct due~ plns the premiums that will ne:t become d~e and pay~}e on pulicies ot ~re and othtr has~rd insurance covering tbe mortgaged properly, plua ta:es ond assessmeats ne:t due on the moet- gaged propert~ (oU as estimated br the mortgagee) less all sums already paid tberefor divided by ihe number of months . to elapse before one mmtb psior to the date wrhea such ground rents, premiums, ta:es, and assessn?ents will become de- linquent. soch sums to be held bp mortgagee in trust to pay said gronad rents, premiums, ta:es, and special assessmeuts; ; and ~ (c) All payments meatloned in the two preceding subse~:tions of this paregrapb and •ll p~ymenls to be made under t6e note t secured hereby ahall be ~dded together and the •ggFegote amounf thereof shall be prid by ihe awrtga~ot e~ch month in • single papment to be ~pplied bp the mortgagee to the tollo~ring itetns ia fhe ordet aet furth: - (n preaiinm charQes ander the contract of~ ins~awce witlv;the,,~ecrotaly of Hwslt~gwnd IIrban Development, or monthly charge (in lien of mortsaQe inauraoce premi~).:as~lhe case ma7 be; ~ (II) Qrom~d rents. t~ses, aaseasments,. [ire, aoM otMr h~sard insunace ~remiuma; (III) iaterest on the note secured hereb~G-sad' . - 0 _ ~ ~ (IV) amortisatiat d tbe pdacip~l of said pote. : ' • Any deficiency in the amaiat cf ~ucl~ aggregate mont~lq poymeot. ahall, unles's made good by the moctgagor prior to the dae date af the next sncb payment, constitute an event d default under this mortgage. The mortgagee may collect a"lete charge" not to exceed tao cents (2!) for each dollar (Sl) of each payn~ent ma~e than Iikeen (15) days in errears to cover tbe extre expense invoIved in handling delinquent payments. 3. That if the total af tbe payments roade by tbe modgagor undet (bj of parag~aph 2 pteceding shall exceed ~ the amonnt of peyments actually made by the mortgagee, for grouad rents. taxes and assessments aad insurence pcemiums, as the case ~oay be, such excess shall be credited by the moctgegee on subsequent peyments to be made by tbe mortg,agor. If, however. the monthty peyments made b3 the mortgagor under (b) of paragraph 2 pre- ceding shall not be "sidficlent to pey grouad reets. taxes and esaessa~aats and insurance premiums, as the ce~e may be, when the same s6a11 becaae due and .payable, thea the matgagor shall pay to.the ~cMgagee any amount necessary to make up tbe deficiency~ on or before the dpte: wbea ppyment of such g~ouad reata.-taxes, assessmeata, ~ a iasurance pcemiums shall be due. If at any time the. mortgagor shall teader to t6e mortg~tgee iA occocdance witb ~ ~ tbe provisions of _the note secured bereby, full p~yment of .the eatire iadebtedness repres~ented :thereby, tFie mott- gagee~ shall, la compdting" the emouat of such indebtedness.• credit to tbe er~ount of th~ mottgagor'a11 paymeats msde under the provisioaa of (a) of patag~apb 2 heteof which the mortgagr ~:as not become obligated to pay to • th~ Secretary of Housing aad Urban Development and any balance~ remsinin;. .s~ the funds accuel~ulate~ under the provisions of.(6JpE said pacagcaph-2. If tbere shall be a default under any uf the provisioas of this mortgage. re- sulting in a"pubUc aale of tbe prero3ses covered lerebj?, or ii the matgagee acquices the property othec~aise attet defeult. the matgagee sball apply. -at the time of the commencement d such proceedings a at the time the prop- edy is otherwise acquired, We balence then-cea~aining in tbe~funds acc-umulated under (b1 of paragraph 2 preceding as a credit agaiast tbe emount of principe~.then remaining ~npaid unde~ Said note and shall properlyadjust aay payments whict~ ~hefl Aave bcea made under {d) of said paragtaph. ~ ' 4. That he will psy all texes, assessments, aater rates, aad ather governmental or municipal charges, fines, ot i~positions, for ~rhicb provisiort has not !~p 1b~it(e ~e;eie~e~ote; and in defeult thereof the mortgagee may pey the seme; and tbat he wiU pwmptly deliver tfie`aificial iec:eipta tbere~or to the mortgagee. ~ ~ ~ ss ~ _ .~t _ _ ~ = .