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Home My WebLink About2082 c .~,~.~~±?~i 1!] . ~ J~? _ .:«~r said mortgagor dues hereby fully waueat the title to seid land. and every part thereof. end rvill defend the same against the lawful claims of all persons ahoa~soever. PROVIDED ALWAYS. and these preseats are executed aad delivered upoe the following coaditlons, to wit: The moctgaga agrees to pay the mo~tgsgee. or ocder. the prlncipal sum of =~~i~i THOtJSi11~D 8zZ tlqt~D~D FI!"1'Y and 00/100- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Dollacs (S 13 ~650.00 es evide~ced by a aote of evea date herewith. with interest from date at the rate of gpven i orfs~lf per ceatum ( 7~ ~6) per banum oe tbe unpoid balance until paid. The said pcincipet and interest shall be payeble at the office oE J. T. 8~ MO~RT~',i1Ga C~iP~1NY, =NC. , r~ite 300 - 100 Miracle Mile, Ooral Gables, tlorida, or at such other p:ace as the hoider of the note may designate in writing. in motdhly installments of Dttt~B'PY~IVS at~d 55/100- - - - - - - - - - Dollars (S 95.55 commencing on the first day of !~lay . 19 69 ~ an~ ^a the tirst day of each moath thereafter untiltheprincipal and intecest are fally peld. except t6at the final payment of p~incipal and interest, if not sooner paid, shall be due and payable on the first dey of ]1px'il, 1999 ; And shell duly. proanptly. and fully perform. discharge. execute. effect, complete, and comply ~vith and sbide by each and every the stipulations. agreements. conditions, and covenants of said pranissory note and of this mortgage, then thiS mortgage and the estate hereby cceated shall cease end be null and void. And the mortgagor further covenents as follows: ~ 1. That he wil! pay the indebtedness. as hereinbefore provided. Privilege is reserved to pay the debt in whole. or in an amount equal to orte or mae monthly payments on the principal that are next due on the note, on the first day oE any month prior to maturity: Provided. howevec. that written aotice of an iatention to exercise such privilege is given at.least thidy (30) days pri~ to prepayment; and~ provided fudher~ that in the event the debt is paid in tull pcioc to maturity and at that time it is insured under the provisions of the Nationa! Housing Act. he will pay to the modgagee aa adjusted premium charge of one per centum (19L) of the orig~nal principel amount thereof. except that in no event "shall the adjusted premium exceed the aggregate amount of premium charges which would have beea payable if the mortgage had continued to be insured until maturity; such payment to be applied by the moct- gagee upon its obligation to the Secretary of Housing and Urban Development a~ accoant of modgage insurance. 2. That~ in order more fully to protect the security of this modgage, the modgagor, together with, and in addi- tion to. the ma~thly payments under the terms of the note secured hereby, on the first day of each month nntil the said note is fully paid. will pay to the mortgagee the followiag sums: (a) An amouat sufticieat to provide the holder hereof with faads to pay the ne:t mortQage iasurance premium if this instnr meat and the note secured herebr are insured, or a moathly chuee (Ia lieu of a mortgage iaauraace premium) if they are held by the Secretary of Hoasin~ and Urban Developmeat. as follo~vs: (I) If aad so lona •s said note of evea date aad this insttument ue insared or ~re reiasured under tbe provisioas ot the Nation~l HousinQ Act. ~n amow?t sutCcient to accumnl~te in the hands of the holder one (1) month prior to Its dne date the oaaual mortQa~e iaswance premium, in ord~r to .pwvide suc6 holder aiW tunds to pay suc6 premium to tbe Secretary of HousiaQ and Urban Development pursuant to t6e Netiaul Housin~ Act, as amended, and applicrble Regu- latioas thereuader; or (II) lf and so IonQ as a~id note o[ evea date and thls inst~umeat ue held by tbe Secretacy of Housing and Urbaa Develop- meat. • moathly char~e (in Iieu of • mortgage insuraace premium) w6ich shall be ia an ~mount equal to one-twelfW (1/12) ot oae-halt (yj) per ceatum o[ the avenge outstaading bal4ace due oa the note computed ~vithout taking into accouat deliaquencies or preparments; (b) A sum equai to We ~ound rents, it any, nezt due. plus ihe premiums that ~viil ne:t become due aad payable oa policies of Cue and other hazud :rssurance coverinQ the mort~aged property. plas ta:es and assessments nezt due on the mort- gsged propertr (~U as eat~t,:ated by We mortg~Qee) less all sum~ ~lready paid theretor divided by the aumber of months j to elapse betorc one montb prior to We date arhen such Qround rents, premiums. Wces, tad assessments ailt become de- j liaquent, suc6 sums to be held by mortQaQee in trust to pay sald ~round teets. premiums. tues, ~nd specLl assessmeats; E rnd ~ (cJ All payments meaUoa~ed in the two precedin~ subsectioas of Wis paragraph aad all payments to be made under the note ; secured hercby shrii be ~dded toQether and t6e •ggFegate amount thercot shall be paid by the mortgsgor each month in a ~ single payment to be applied by ffie mortQagee to tl~e follo~ring items in the order set forth: f (n premium charQes uader the coatnct ot insuraace wlffi the Secrctary o[ Housin~ and Urban Developmeat, or moathly E c6orge (in lieu ot mortQa~e insurance premium). as t6e case may be; (In Qround reAts. ta:es, assessments. fire. and other hazard insnrance pcemiums; (IIn Intereat oa the aote secured 6eteby; and - (IV) omortisation o[ the princip~l of s~id oote. Any deficiency ia the amount af sucb aggregate monthly peyment shall, unless made good by the mortgagor prior to the due date of the next snch peymeat, constitute an event of defanlt under this matgage. The modgagee a~y collect a"late charge" not to exceed two ceats (2~) fa each dollar (;1) of esch payment mae than fifteen (15) days in anears to cover the extca eapease involved in handling delinquent payments. - 3. That if the total of the payments made by the matgagor nnder (b) of parag~aph 2 Preceding shall exceed the amouat of peyments actually made by the mo~tgagee, for ground reats, ta:es and assessments and insucance premiums, as the case may be, such ezcess shall be credited by the mortgagee oa subsequent payments to be made by the mortgagoc. ff. however, the monthly paymeats made by the matgagor under (b) of parsgcaph 2 pre- ceding shall not be sufficient to pay g~onnd cerrts. taxes aad assessments and iasurance ptemiums, as the case may be. when the same shall become due and poyable, then t~ moctgagor shsll pay to the mortgs+gee any amount necessary to make up tLe deficieacy, oa ac befae the date Wbea paymeat of such g~oand nnts, taze~, essessments, or iasuraace prcmiums shall be due. If at any time the moetgegoc shall teader to tbe mortg,aeee in accocdance with the provisions oE the note secured hereby, full peymeat of the entlre indebtedness repcesented thenby, t6e mort- gagee shall, ia computing the amount af such indebtedness, credit to the acconnt of the matgpgor all poymeats , awde uader the praerisions of (a) af perag~aph 2 hereof whu6 tbe matgagee h~s not become obligated to p~yto the Secretary aE Housiag aad Urban Development and aay bolaoce cemaining in the funds accumulated uoder the provisions of (6j d said par~graph 2. If thece shall be ~ default nnder any d the pcovisions of this mortpge, re- sulting in a Qublic sale af the p~emises covered xs~eby, or if tbe matgagee acqnires the propedy othecwise after default, the matgagee s6a11 apply, at the time oE the commencement of such proceeding¢ or at We time the prop- edy ls othenvise acquired, the balance then remaining ia the Ennds accumulated nader (b) of paragcepb 2 preceding as a credit against t6e amouat of principal tbea remoining unpaid uader said nota and sball properlyadjust eay payments ahic6 shall have been made undec (aJ af said pata~raph. ~ That he will pay all taxes, assessments, watec rotes, and dber governmental a municipel charges, fines, or ~mpositioas, foc whicb pcavision has not been awde hereinbeface, and in deEault theceof the mortg,agee may pey the same; and that he will promptly deliver the dficial receipta theeefot to the mortg~agee. ~ ~f~ ~~079 ~ . . ; - _ _ ~ ~ ~-s~ , ~