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said moctgagw does hereby fully wacrant the title to seid laad. and every part thereof~ and will defend the seme
agai~st the lawful clauns of all pecsorts whomsoever,
PROVIDED ALWAYS. and these preseats are executed aad delivered upon the following conditioas, to wit:
The mortgagor agrees to pay the matgagee, or order, the principal sum of ~I~IKlVt '~10'~laaqd '~~t
~tutidsyd aAd ~IO/lOO•___••__••..__•_•_,•____•_••••_•___••_____•_•••__•
Dollars 1Z g~ ~ as evidenced by a note of even date herewitb, with iaterest Erom date at the
rate of a~{i~p ~ ppt~~lt per centum ( 7~ 9f.) per anaum oa the unpaid balance
until paid. The said pcincipal and interest shall be payable at the office of ~I~ ~j~QUL
OObtPOItATI011, a aorporation uads~c~ ths la~ra of th~ 3tats d Otla~r~rs ,
P. 0. Bo~e 3131, Mi~i, llor~da
a at such other place as the hotder of the note may desig~ate in writing, in monthly installments of I~~Dttj/
aIId 90~`100•~~~•-+•+~~~-•~~•~-+~•..~..Dollers (S 90.90 commeacing on
the first day of $eptM~tT . 19 69 . and on the first day of each month thereafter untilthe principal
and interest are fully paid, except that the final payment of principal and interest. if ~ot sooner paid, shall be due
and payable on the ficst day of A~?,~wt ~~,991? ;
And shatl duly~ promptly. and fully pedorm. discharge~ execute. eEfect, complete. and comply with and abide
by each and every the stipulatioi?s. agreements, conditions, and covenants of said promissory note and of this
mortgage. then this mortgage and the estate hereby created shall cease end be null and void.
And the matgagor further covenants as follows:
1. That he ~rill pay the indebtedness. as hereinbefore provided. Privilege is reserved to pay the debt in whole,
or in an amount equal to one or more monthly payments on the principal that ace aext due oa the note. on the Eirst ~
day of any month p~ior to maturity: Provided. hoaever. that written aotice of an inteA'Ei«? to exercise such privilege ~
is given at least thirty (30) days prior to pcepeyment; and, provided Eurther, that in the event the debt is paid in j
full prior to maturity and at that time it is insured under the provisions of the Nationa! Housing Act, he will pay to f
the modgagee an adjusted premiam charge of one per centum (196j of the original principel amonnt thereof. except ;
that i~ no event shall the adjusted premium exceed the aggregate amount of premium charges which would have ;
been payable if the moctgage had continued to be i~sured uetil maturity; such paya~ent to be epplied by the mort- :
gagee upon its oblig,atio~ to the Seccetary of Housing and Urban Devetopment on accaunt of modgage insurance.
Z. That. in order more fully .to protect the seceerity of this ~nortgage, the modgagor, together with, and in addi-
tion to. the monthly payments under the terms of the note secured h~reby. on the first dey of each month until the
said note is fully poid. will pay to the mortgagee the follawing sums:
jQ) Ao amount su[ticieot to previde the holder hereot writh tunds to pay the ne:t mort~Age insuraace premium if this instru-
ment and tl~e note securcd herebr ~re insured, or a montdly charQe (ia lieq of a wortQa~e insurance premium) if they ~re
held by the Secretarp of Housiag and Urban Developmeet, as toilows:
Q) It •nd so IonQ aa said note ot cven date and this ?nstrumeat are insured or are rcinsured under the provisioas of the
National Mousing Act, an amount suf[icient to pccumul~te Ia the Rands o[ the holder one (l) month prior to its due
datc the annual mortgage insuraace prcm'tum, in order to prov~de such holder with tunds to pay such premium to the
Secretary ot Nouaieg aad Urbsn Development pursuant to the Nation~i Housing Act. •s araendcd, and applicabte Regu-
tations tAereuader; or
(II) I( and so long as said note c~t e~eR date aqd this instrument are heid by the Secrct~ry ot Housing and Urban Devetop-
ment, a monthly char¢e (in l~eu oi a mortgage insurance premtum) Mrh~ch shal! be in aa ae~ount aqu~l to one-tweifth
(1.'12) of one-haft per centum of ihe iverage outstanding bsl~nce due on the note computed ~rithout tak~ng into
•ccount deliuquenctes or prepayeaents;
rh! A sum eQu~l to the ground rents. ~f any, next ~ue, plus the prem~ums that w}~il ne:t become cfue ~nd payable on pottcies
of tire aed other hasord ~nsurauce coverinQ tht mort~aged property, plus ta:es and assessmenta eext due on the mort-
gaged prope?ty (sll as est~mated by the mortga~ee) less all sums •Iready pa~d theretor dtvtded by the number ot months
to elapse betore one month pnor to the date whe~ such ~round rents, premiums, t~Yes, and assessments r~tl become de-
icnquent, such soms to be hrld by m,crtgoeee ~n trust ro pay sa~d Rround rents, prem~uma, taxes, aad spccu! assessments,
a~d
All payments mrntioned in thc twa p~eceding aubsecttona ot th~s par~Qraph red ait p~ymrats to bt made unQer the note
secured herrby shail be added toQetAer rnd tl~e a~gre~ate •mnun! the?eof sh~ll be pa~d by t`t mort~rQor each munth ~n a t
s?ngle paymeet to be •ppl~ed bY the mort~a~ee to the to!loxin~ ~tems •n tAe urder set torth: ~
(1) premtum ch~r~e+e under the contnct ot ~r?surancc with the Sectetary o( Nousln; sod l.'rb~n Devetupment, nr montht~•
cAar~e ~tn tteu o( mortQate tnsurance qe~nium), as the c~se msf be;
(lt) ~roue?d rents, ta:es, assessmeots, l~re, aad otAer hazard ~nsu~aace prrm~urns; ~
(UA mterest uo the nate secured hereby; and
(IV) amortis~ti.~n ot thc prwci~l ot s~~d note~
Any de(ec~ency in tl+e •u+ount ot auch •ggregate monthly payment shall, unless made good by the matgagcx
prior to the due date ot the ntxt'sucb ~sayment. constitute an eveet d defoult under this m~xtgage. The mortgagee
~nay collect a"tate charge" not to e~tceed tvro cents (~t) Eot each dollar (sl) ot cacA p~ymen! more thAn fifteen
i IS) dayg ~n arreora to cover the estn expeASe involred ie h~~dl~~ deitnqoent ~y~ents.
3. That i[ the total af tlre poyments ~s.de br the .ort~,.eor undet rb) o! p~r~graph 2 preceding shaU excred
the amount c~t peyments aciually made by the matgo~eee, fcx grouc?d renta, tasrs and ~ssessments •nd insu~ance
pre~n~ums, as the caae may br, such excess slwll be ctedited dy the a~ori~gee oe subscquent payurcnta to be
made by ihe mcxtgagor. If, hovre~•er, the manthly poyenents made by the a~octgagor urrdet (bJ of p~re6rsph 2 pce-
red~n~ shall not ke sufttcunt to p~y ~ound renis, taYes and ~ssarsse.~nta aad ~nsuraoce prewwa?s. os the case '
may be, ~Aeo tbe saiae sha!! Deco~e due and ptyable. tbe~ the matspsos slsnll pay to tbc ~nort~,a~ee ~ny aa~ourt
necessary to atake up the de(~cirncy, cm a be{o~e t!?e d~te ~rhen paya~ent of such eround reets, twxcs, sssesaments,
~x insurznce p:rm~uma shall be due. lt ~t any time the mcxt~~~or shalltender to the mort~seee in accad~nc~ with
the provia~uns d the note securcd hecebY, tul! p~ye~ent ad the eatite indebtedness represeeted iltitreby, the mort-
gr~;ee shatl, ia coa~t~n~ ~he ~~a~nt d svch indebtrdness, ctadit to tlie acccwnt d t}~ ~o?t~p~ ai! patments ~
ca~de under th~t ptov~sia+s of /a) d p~ragripb 2 brctu[ rrhtcb the ~pt~r~~,ee Iws not bec.me abl~~trd to p~? to ~
the Secret~ry ot Nous?ng and t1~b~Devetop~est and :t~y bal~nce rc~~au~ in tl~ iunds ~crwwlatod ~uder che ~
p~ov~s~ons d eh) d sa~d pard~r~ph 2. lt there sl+~11 be a dctault undet .~ny d the prov~~io.~s o! this inat~~e. ~e-
s~eN~n~ ~n • puDtu sals ot che pce~~s~s ccwe~d r~e~.by. a d the isorts~Fe ~cQv~~es the propettY c~tlknr~s~ ~fier
d~(~utt. the s?atsa~ee nbatt apqlY. ,~t tlfe ti~nt a~ tlie romme+~cea~er~t d such procecdings ot at the t~~ae the prop- '
rrt~ is otAe~rw~ acquued. tiu bslsr~ce lJ1lA flOa/01Rs an tl~t tsu~ds ur~pulated asder t" f d psr.~r~.pb 2 preced~nR
as a cred~t epfnsf tbe •in.~wt ot ptMc~p~1 tMe rta~ia~~ rps~~i onder sa~d nate ~~d shwll ptape~ly sd~ust anY
p+~Y~sent• ~rA~c? styli l~are beea wde uxda~ f~l' d:a~d ps~~~tapt~.
1 ThMt Ae ~ttl piY •It taars. ~xsess~aeats. •~tl~ ?~LM. i~ O~~lt ~ariHt1Alfltal o~ ~un~cip~t chsr`es, i~nes.
~x s~epu~ ~t u~ts . f cx w h~c h pr cr ~ a~ un h~ s nat be~a ~~de hee* t~et art. •nd ~ n de! iw tt t Aen~.~1 t?~e as<xt W~~oe +ah' W y
et~e s~ee, wwd tbat'~e r+!! p:v~ptlY del~vat tlw? o[Itt~wl t~cs~pts tf~e~rloe to tbe ~onp~e
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