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Home My WebLink About1079 , i ~-r_~ . - ~ t~.~ a. . . p . > . . sv, ~ . : 1~ , . ~f ?rEr~ :ju~u~.~,.. ! t~•` . t: t c'~. kt'. . Y'i ~tN! wa~r~~s .~.a `~n.~n~,:~ ~ . . w • ' 4~ sa~ watp~or does larebp iully wunat t6e titl~ to s~id land. ~nd ~very put the~eaf~ ard wlll deEead the same j ~~iast tb~ l~wtul c4iias d all p~rsoo~ w6oasosvtr. PROVIDBD AL~AYS, +~ad tl~eat presents are executed aad deUveced up~n tl~e follawin~ conditioas. to wlt: 'P6e Aat~a a~ce~s to p~y tl~e ~nat~~ee, a adec. the pctaclpal sum of T$IRT~?l~ TSOIIS~A~tD S=Z ROIip~D 4~iD 1~0/100---------------------------------------------- Do1Lrs . 19 ~ 600.00 as evidenced by • aote of, evea date herewith. with intereat troe~ date at tfre rate of EIGBT A~iD Olf!-H~.F per centum ~ ~8} x,) per anaum on tbe tu~poid balonce until paid. The said pciaclpal aad intecest shall be pay+rbie tbe office d J. 'r. STIM~RT MORTG~i E COMP~~ I~TC.._ ia Suit• 300-100 ltiraol• l~i.l~~ Ceral aabl~~, ~'lerida a at $uc6 other place as We holder of tthe aote may desigpate in ~vritiag. ia monthly installaeats of - O~1E ~D l~'OZJR LDiD S8/100------- Dollacs (S 104. ~8 commeacing a, the first day of OOtOb~r . 19 70 . and oa the first day of ea~h month thecee~ter uatllthepriACipe1 sad iaterest a[e fnlly p4id. excapt tl~at the final payment of priacipal and interest. if aot soaier paid. shall be due and p4yable oa the ftrst day of S~pt~~b~r, 2000. Md shall daly. pranptly, and fully pedo:m, discharge. execute, effect, complete. and comply With and abide by eacb aad every t6e stipulatioas. ag~reements. condltioa$, and coveaaats of said pcomissory aote aad of this modgage, thea this moctgage and the estate hereby created ahall cease aad be aull and void. Md Wa o~~gv~.f~et~er cov~aaRt~ as follaw,;., , - . • . . . . . , ~ • 1. That he will pay the indebtedaess, as hereiabefore provided. Pri'vilege is reserved to pay the debt in whole. or in aa amount equa! to- one a moce monthly peymeats oa the priacipal that are next due oa the note, on the first day of any maath prior to maturity: Proviled. ho~vever, that writtea notice af ea intention to exercise such pri~ilege is givea at least thtrty (3Q) days prior to prepaymeat; aad, gro~vided further, that in the eveat the debt is peid in fnll prior to maturity end st that time it is insured under the provisioas of the Natioaal Hc+usiag Act, he ovill pay to the matgagee aa edjusted premium charge of oae per ~entum (1%) of the original priacipal amount thereof. eacept that ia ao event shall the adjusted premium exceed the aggregate amount of premium chacges which woald 6ave been p~yable if the moetgage had oontiaued to be insured uatil matnrlty; such payment to be applied by the mort- gagee npon its oblig,atioa to the Secretary of Housing aad Urbaa Developmeat oa accouat oE mortg,age insurance. 2. That, in otdet more fnlly to protect the security of this moetgage, the mortgag~, together with. and in addi- tion to, tha moathly payments nnder the terms of ffie aote secured heceby, o~ the first day of each month until the said nde is fully paid. wiQ pQy to the mortgagee the- followiag sums: (a) An amount sutlicient to pwride ffie bolder 6ereot with Eunds to par ffie nezt mortgaQe insurance premium i[ this iastsu- m~n~ .na c~e pae :~~a b~er ~re insnred, or a moathl~ cbuge (ie liea o[ a mortgage insuraace premium) if theq are held bp tlie Secret~ry o[ Honsin~ imd 1lrb+~u Derelopmeat, as follo~rs: (n U aad so 1~ es sa3d note of eren date and thls iasttument_~re iasured or ~re reinsured under the pwvisioas of tbe I~1~tioaal Honsio~ AM. aa amaant snf6Meot to accumyllate in We hasds of the holder oae (1) month ~ior to its due date We annn~l mortgaQe iasuraince premiom, ia ord~r to pwvlde wch holder WIt6 funds to p~y suchpremium to the Secretasp ot Hoasing and Urb~e De~elopment pursuaat to the N~tion~l Housing Act, aa amended, ~nd applicable Regu- l~ticns thereuoder; or ~ (In If and so loa~ ~s aaid aote of even date and this iastrnment-are held by the Secretar~ oE Housing and Urbaa Develop- ment. • monthlr chuge (in Iien of a mort~a~e iasun~ace premium) ahich shall be ia ao amount equal to onrtwrelEth ' (1/12) ot one-h~lE (y2) per ceatum of tLe ~reraQe ontstaadln~ b~lance due on the aote computed wiffiout tal~in~ into . account delinqneacies~ or prepa~meats; (bJ A sum equal to the ground reats, it an~. een dae. plos the premiums Wst will nezt become due aad paqable oa policies ~ ot Cire and other 6azard insuraace covering the mortQa~ed property. plus tazes and ssaessmeats ae:t due on the mort- gaged property (all as estlmated by tbe mortga~ee) less dl sums already paid tl~e~e[or divided by the number of moat6s to elopse before one moatb prior to the date when such gwund rcnts, premiwns, ta:es, and ossessmeats eriA become de- lia~ent, snch sums to be held by mortgagee in trust to pa~ s~id Qronad reats, premiuma, tues, and speciol assessmeats; and ~ (e) All payments mmtioaed in the two preceding subsectiona of thla para~aph aad ali paqments to be made ander the aote secured hereb~ shall be sdded together and t6e ~~egate amouat thereof shall be ppid by the mortgagor each moath in • ~ single payment to be appljed •t~eimortNOeie to ths followria~ items ia the order set tortL: (n premium charQes tu~deF_ ~te ~Qatnct oE. insu~ance ~rith.. We Sq~etary ot Housing and Urban Developmeat. or monthiy c6ar~e (in liea of mort~tr ies~ranee ~um), as the case may be; (Ip ~rouod rents, t~zes. ~t~lssmeat~, flie. otlier bazard insuraac+d peemiuma; (IIn taterest on tl~e nott se~uR~a¢ ~Nrf~;~+~~, . ; . ~ , . . - (IV) amodizotion of tLe prLict~l oC siid~note. Aay deficiency in the amatet of snc6 aggregete monthly pa~rment shall, unless made good by the matgagor prior to the dne date of the d~~ft snc'h paynteat, constitaRe' sn event af default under this mortgage. The modgagee may collect a"late charge" aot to e~cceed t~vo cents (2~) for eac6 dollar (sl) of esch peyment mae than fifteen (15) days in arcears to caver tbe extca e:pease involved ia haAdling delinquent payments. 3. T6at if the totaI ef the payments made by the moctgagor nnder (b) of paragreph 2 pceceding shall ezceed the amount af peymeats ectnally made by tlie mortgagee, foc gFOUnd rents, tazes end assessments and ins~uance pcemiums, as the case may be, snch ezcess shall be ccedited by the mortg,a~eee on subsequeat payments to be made by the mortg,ugor. If, hawever. the monthly peymeats made bjr the moctgegor under (bJ of paregreph 2 pre- ceding shall not be sufficient to pey gRound rents, taxes and assessmants and iasurance pcemiums, as the case may be, when the same shall became due aad peyable, thea the martgagor s6a11 pay to the mortgagee any amount necessary to ma~Ce up~tLe deficiency, on a befae t6e date when payoent of sucL g~ound reets, ta:es. assessments, ~ oc ias~uance preminms shall be dne. If at any tiae t6e moctgagor shall tender to the moetgagce ia accordence ~rith tbe pcovisions of the note secnred 6ereby, full {~eyment of the entire indebtednesg represented thereby, the mod- g,agee s6a11, in co~pntiag the anount af snch indebtedness, credit to the account d t6e oat;agor all paymeats made under t6e pravisions o[ (aJ af porag,~aph 2 heceof ahich tbe matg,egee has not baome obligated to pay to . the Seccetary of Hoasing and Urban Developa~ent and any belance remaining ia the funds ac~umulated under d~e provisions a~(bj cf.;sid_p~cagRaph 2. ~f thece sbell be a default under aay of the pravisions of this mat~age, re- sulting iri a~pnblic aale of the peemises cavered hereby, a if the mortgagpe acqnires the property otbecwise after deb~nlt, t~e ~at~ shyll a~g. at tk~ time ~Qf tlie ca~neacemeat of such proceeding~ or at the time the prop- edy is oth~iarise acquired, the balaace thea remainiag in tbe fnnds aocnmuLted noder (b) oE paragcap6 2 preceding as a credit ag~ainst tbe aawaat oE prLicipal then remaiaing ~mpaid under said note and slwll pcoperly adjust eny ~ • payments n6ich sh#11 LaY~ ~~oede ti~det rd) of sild w1ta6Raph• ' 4. Tbat be will poy All taxes, esses~ents, water rates, aad otkkr governmeatal ar m~micipal cha[~es, fines, ' . oc impositions, fa which pravisioa 6as not been made hereinbeface, and in defemlt t6eceaf the mortgagee may psy the same; and that he will pco~ptly deliver the afficial reoeipts t6eseEor to We mortp6ee. ~ . • . . ~i85 ~i0~0 ! ~ t 1..~ . - - x.~ - _M ~ _•s~F ~ . ~:1