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Home My WebLink About0728 ~~-j r t'i iv't t~ y , i ; ; ~ . ; 1 ~ • ~ J ~ ...1 a ' ~ ..:a ' ~ ~ • . •r ~ F ~ ~ said mortgega does hereby fully war~ant the title to said land. and every part the~eof. aad will defead the same against the lawful claims of all persons ~rhomsoever. PROVIDED ALWAYS. and these presents are executed aad delivered apon the follaiving conditions, to wit: The matgago~ agrees to pay tbe m«tgegee, o~ order~ the principal sum of ~iaN1'Y EIQHT Tli0USA1iD • 8IX ~1A1D~iSD A1~1D ~10/'100-••--•-----••-•----•--•---•-•----•---------- pollars (S Z$ ~6QQ~QQ as evide~ced by a note of evea date herewith, with inte~est from date at the rate of Styep ~ Op~~~l! per ceatum ( 7~ 96) per annum on the unpaid balance uatil paid. The said principal and interest shall be payable et the office of jTj~ ~j~j~Cj,Aj, OO~OaATIO~i, ~ oorporation uodar tha la~n o! ths Stata o! Dalavara , P. O. Bwc 3131 ~iiaat lrlortda or at such other place as ~e holder o~ the aote may desig~ate in writing. in monthly installments of '1r10 AYiWS~Y ~ iO~W~~~~~~i~~~w~.~~~~~0118[S ~s ZQO~iO coa~mencing oa the first ~ay of Al~j~ti~t ~ 1969 . end ou the first day of each month thereafter uatil tbe priacipal and interest are fully paid. except thet the final payment of principal and interest, if aot sooner paid, shall be due and payable on the first day of July ; 1999 . And shall duly. promptly. and fully perform. discharge~ execute, effect. complete, and caaply with and abide by esch a~d every the stipulations, agreeme~ts. conditioc~s. aad covenants of said pcaaissory aote and of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void. And the matgaga further covenants as follows: 1. That he will pey the irtdebtedaess, as hereinbefore provided. Privilege is reserved to pay the debt in whole. or in ea amount equal to one or mae monthly payments oa the pri~cipal that are next due on the note, on the first day of any moath prior to maturity: Provided, hovvever~ that written notice of an inteAtion to exercise such privilege is given et least thidy (30) days pria to prepayment; and. 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 Natioaal Housing Act. he will pay to the mortgagee an adjusted premium charge of one per centum (196) of the original principel smonnt theceof. except that i~ no eveat shall the adjusted premium exceed the aggregate amount of premiiun charges which wonld have beea payable if the mortgage had coatiaued to be insured until matarity; such payment to be applied by the mort- gagee upon its obligatiai to the Secretary oE Housing and Urban Develop~nent on account of mortgege insurance. 2. That, in order awre fully to protect the security of this mortgage. the mortgagor, together with. and in addi- tion to. the monthly payments under the terms of the note secured hereby. on the first day af each month until the said note is fully paid, will pay to the mortgagee the following sums: (aJ An amouat sufficieet to provide the holder hereot with funds to psy the ne:t mortgage insurance prea?ium it this instru- ment aad the note secured hercbr are insured. or • monthty charge (in lieu oE • mortgage in~ucance premium) it ther are held by the Secretary of HousinQ ond Urban Development. as [ollo~rs: (I) U and so loag as said note o[ even date and this instrument are iasured or arc reinaured uader the provisions ot We Natioaal Housiag Act, an amount sufticient to accumulate In the hands o[ the holder one (1) moath prior to its due date the annual mortga~e insurance premiwa. Lt order to provide such holder with fuada to pay sucLpretnium to the Secretary of Housiag and Urban Development pursuant to the Nlationai Housing Act. aa amended, and applicable Regu- lations thereunder, ot (II) If and so long as aaid note o[ even date and this instrument are held by the Secretar~ ot Housing and Urban Deve?op- ment, a monthiy charge (in lieu ot a mortgage insu~ance premium) which shall be in aa amouat equat to oartwelfth (1/12) of one-half (y4) per centum ot the average outstanding balance due on the note computed without taking into account delinquencies or prepaymeats; 'i (6) A sum equal to the ground reata, it any. ne:t due, pius the premiums that will nezt become due ond payable on policies ` o[ Cire and other hazard iaaurance cavering the mortgaged property, plus tazes and easessmeats ae:t due on the mort- _ ~ gaged property (aU as estimated by the mortgagee) less all sums already paid thecefor divided by t6e number o[ months ~ to elapse be[ore oae month pria to the date when such ground reats, premiums, tazes. aad assessmeats will become de- linquent, such sums to be held by mortgagee in trust to pay said ground rents, premiums, ta:es, aad speciai assessments; and (c) All payments mentioned in the two preceding subsections ot thia paragraph and all psyments to be made under the note secured hereby shall be added cogether and the aggregate amount thereof shall be paid by the mortgagor each month in a ~ single payment to be applied by the mortgagee to the following items in the order set forth: (q premium chargea under the coatract ot insurance with the Secretary o[ Housing and Urban Development, or monthly ~ charge (in lieu ot mortgage insurmce premium), as the case may be; (II) ground rents, to:es, assessments, [ire, and other hazard iasuraace premiums; (III) interest on the note secured hereby; aad (I~ amortization ot the principol o[ said aote. ' Any deficiency in the amount pf such .aggregate monthly payment shall, unless made good by the mortgagor prior to the due date of the next such payment, corstitute an eve,nt d default under this mortgage. The modgagee may collect a"late charge'' not to exceed two cents (2~) for each dollaf (S1) of each payment more than fifteen (15) days in anears to cover fhe extra eapeose irivolved in bandling delinquent payaients. • . ~ :a r ~ 3. That if the totsl of the peyments m~de by the mortgagor under (6J of paragraph 2 preceding shall e:ceed the amount of payaients actually made by the matgegee, for gtau~d cents, tases and assessments and insurance premiums,, as the case may be, such excess shall be credited by the mortgagee 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 shall not be sufficiertt to pay gcound rents, taxes and assessmants aad insurance premiums, as the case may be, when the same shall become due and peyable, then the matgagor shall pay to the modgagee any amouat ~ necessary to a~ake up the deficiency, on a befoce the date when payment of such ground rents, taxes, assessments, ~ oc insucance premiums shall be due. If at any time the modgagor shall tender to the mortg~gee in accordance with the provisions of the note secnred hereby, full peyment of the entire indebtedaess repcesented thereby. the mort- gegee shall, in computing the araount of such indebtedness, credit to the account of the mortgagor all payments r~ made uader tbt provisions of (a) oE paragraph 2 hereof which the mortgagee has not become obligated to payto ~ the Secretary oE Ho~sing and Urbaa Development and any belance remaining in the [unds accumulated upder the provisions oE (b) of seid paregraph 2. If there shell be a default under any of the pcovisio~s of this mortgage, re- sulting in a public-s~1e of -the premises covered hereby, or if the mortgagee acquires the property otherwise after ~ defaut~, the matgagee shalt apply, at the time of the commencement oE such proceedings or at the time tl~e prop- erty is otherwise se aired, the balance tben remaining in the funds accumulated under (b) of paragraph:2 precgding ~ as a ccedit agai~tst~he a~oou~'of principel then remaiateg nnpaid undet seid note and shall properlyadjuat eny ~ payments which shall }wve been made nnder (o) of said paragraph. 4. That he will pay all tases, assessments, water rates. end other governmental oc munici~al charges, fines, or impositioc~s, for which pravisian has not beea made hereiabefae, and in defauit thereaE the mortgagee may pay ~ the same; and that he aill pro~ptly deliver the oEficta! receipts therefor to the mortg,agee. - ~l'T1 a~1 i8 ~ .7~? ~ ~ ~ ~ : ~ ~ - . _ . _ . , _ _ . ~