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Home My WebLink About0731 , said matgagor does hereby Eully warrant the title to said land, and evec y pact theceof. and will detend the same against the la~vfu! claims of ~11 persons ahomsoeve~. PROVIDED ALWAYS, and these p~eseats are executed and deltvered upon the fotlawing coaditions. to wlt: The mortgagor a`-ees to pay the matgegee~ o~ order. the principal sum of gOtntTgg~ ~qj~D FOUR HUND1tBD JIND ~IG/100-------•--••-------------••----------•--•------•----- Dollars (S 14 ~ 460.00 as evideaced by a note of even date herewltb, ~vith interest fcom date at the rate of •lght i11d OIIO•half pe~ centwo ( a~ y6) per annum ea the uapaid bala~ce unti! paid. The said priacipel aad iaterest shall be payable at the office of. J. T. STBN/1kT 1[ORTCAGB COIiPANY, IHC., a corporation und~r the lars of the State of Florida oc at snch other place as the holder of the nate may designate ia writing, in monthly installments of Htu~dted Tea asd 74/ 100 - - - - _ ~ - _ _ _ _ _ _ .pollars (S 110 . 74 commencing on the first day of Au~ust , 19 ~Q . and oa the first day of each month theceafter until the principal and interest are fully paid, eYCept t6at the final payment of principal and iaterest, if not sooner paid, shall be due ~ aad payable on the first day of Julr~ Z0~0 : And shell duly, promptly, and fully peeform, discharge, execute, effect~ complete, and comply with and abide by each aad every tbe stipuletioas. agceements, conditions, and covenaats of said promissory note and of this• modgage, then this mortgage and the estate hereby cceated shall cease and be null and void. And the matgagor-fuither covenaats as fotlows: 1. That he will pay the indebtedness, as hereinbefore pcovided. Pri'vilege is reserved to pay the debt in whole, or in aa amount equal to one a mae monthly payments on the principal that are next due oa the note. on the first day of aay moath prior to maturity: Provided, 6oaevec, that written aotice of an intention to exercise such privilege is given at lesst thirty (30) days prior to prepaymeat; and, provided further, that in the event the debt is paid in full prior to maturity and at that time it is insured uader the provisions of the National Housiag Act, he will pay to the modgagee aa adjnsted pcEmium charge of one per centum (19G) of the original principel amouni thereof, except that in no eveat shall the adjusted preminm exceed the aggcegate amount of premium charges which would have been peyable if the mortgage had contiaued to be insured until maturity; such payment to be applied by the mort- ~ gagee upoa its obligatio~ tn tne Secretary of Housing and Urban Development oa accouat of mortgege insurance. 2. That, in order more fully to protect the security of this mortgage, the modgagor, together with, and ia addi- tion to, the monthly payments under the ter~ns of the aote secured heceby, on the first day of each month until the said note is fully paid, will pay to tLe mortgagee the follawiag sums: ra) Aa amouat aufticient to pwvide tLe holder hereof ~vith fuads to pay the ne:t mortgage insuraace premium if this instru- , meat andthe aote secnred hereby ~re insured, or a moaWiy charge (in licw of a mortgage insurance premium) if they are held by the Secretaryr of Honsing and Urban Developmeat, as follo~ra: p) If aad so long as said note of even date aad this instrument are insured or arc reinsured under the provisiona of the National Hwaing Act, an omount sn[flCient to accumul~te In the haads of the holder one (1) moath prlor to its due date tbe sanuol mortgage insuraace premium, in order to provide such 6older witb funds to pay such premium to ffie Secretary of Housing and Urbrn Development pursuant to the National Housing Act. as amended. and applicable Regu- latioos thereunder. or " . (Iq If and so long as soid aote oE even d~te aad t6is instnimeat ase held by the Secretarq of Hausiag and Urban Develop- ment. a monthly charge (in liea of a mortgage insurance premium) which shall be ia an amow?t equal to one-twelfth (1/12) of oao-half (y~) per centum of the average outstending balance due on the note computed wit6out tating into accouat dellaquencies or ptepayments; (6J A sum equal to We grbuad renta, if any, nezt due. plus the premiums Wat will neut become due aad payable on policiea of Cue aad offier hazard insnraace coveriag the mortgaged property, plus ta:es and assesswents ne:t due on the moet- gaged. property (ali as estimated by tbe mortgagee) less all aums already paid therefor divided by t6e number of months ; to elapse be[ore one montb prior to the date when such ground rents. premiums, ta:es, and aasessments will become de- linquent. such sdms to be held by mortgagee in tivat to pay said ground rents, premiums, tazes, aad special assessmmts; and • (c) All payments meatioaed in the two pteceding subsections of this paragraph and all payments to be made uader the aote ~ aecured hereby sh~ill be added to~ether ~nd tlie p~egate amouqt~thereot s6a11 be pajd by the mortgagor each month ia a single payment to be`opplied by tbe mortgsgee to the tollo~ving items ia ffie order set forth: ~ (n premium charges uader the contnct oi insmaace with the Secret~ry of Houaing and Urban Development, or monthlq charge (in lieu of mortQage insurance premium)~ as the cue m~r be; (II) ground cents. tazes, assesaments, fi~re, and other hazard insurance premiums; . ~ (II~ interoat on the note secured hereb~; and ~ (I1~ amodisation oE tLe priacip~l of aaid note. ~ Any deficiency in the amount of such aggregate q~onthlp paymeat shall, unless made good by the mortgagor prior to the due date of the nezt such payment,.constitute ~ event af default under this mortgaQe. The modgagee . anay collect a"late charge" not to exceed two_cents.~2~)~for each dollar (~1) of each paymeat,mae than fifteen (15) days in arrears to cover the eatra expense involved in handling delinquent payments. . ~ 3. That if the total ~ the payments made by the mortg,egoc under (b) of paragraph 2 preceding shall exceed ; the amount of payments actually made by the mortgagee, for gtound reats, taxes and assessments and insurance premiums, as the case may be, such excess shall be credite~ by the mortgagee on subsequent payments to be ~ made by the mortgagor. If, hawever, the monthly paymeats made by the mortgagor under (b) of paragreph 2 pre- ceding shall aot be sufficient to pay grouad reats, taues and assessm~~nts and insuraace premiums, as the case ~ may be, when the s~me shall become due and payable, then the matgagor shall pay to the mortgagee any amount necess to make u tbe deficienc on a befae the date when ! p y, peyment of sach ground rents, taxes, assessments, or insurance premiums.shall be due. If at any time the modgagor shalltender to the mortgagee in accordance with the provisions of the note secured hereby, full payment of the eatire indebtedness represeated thereby, the mod- ~ gagee shall, in computing the amount of such indebtedaess, credit to the sccount of the mortgagor all payments made under the prarisions of (o) af paragcaph 2 hereof which the mbrtgagee has not became obligated to pay to ~ ~ the Secretary of ~Honsing and Urben Development end any balance remaining in the funds accumulated under the ; ~ provisions of (6J of said paragraph 2. ff there shall be a default nnder any of the provisions of this mortg,age, re- ` sulting in a, publiC ssl~ :of the premises covered .~ereby, or if the mortgagee acquires the property otherwise after default, the matgagee shall apply, at tbe time of the commencement of such proceeding,s or at the time the prop- _ ; edy is othe~rise acquired, the balaace then remaining ia the fuads accwaulated under (6J of paragraph 2 precediag F as a credit ag~inst the amount, of prlncipel tben reawining unpaid under said note aad shall properlyadjust any ~ payments which ~hall have been made under (a) o~ said paragraph. . ! ~ 4. That he will pay all tazes, assessmeats, water rates, and other govemmental a municipal charges, fines, : or impositioas, for which provision has not been made hereinbefae, and in default thered the matgagee mey pay ~ the same; and that he will promptly deliver the official rec:eipts therefor to the mortg,sgee. ~ t ~ - ~Vt~ ~ ~ ~ - , - _ ~ ,~...1-- r=; ~ - f ~ ~ - _ ~~;-'1 - -