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Home My WebLink About1366 ~ ~ . , j . ; ~ ~ t~c. ~ ~ . • • ? , . said aortpsa doss b~reby Eully wunnt the titk to sald land. and ~vfry p~ct the~eoE. and will defead the same apLast tbt l~wtul c4ia~a af ~11 peesoas wltoesoewRc. . PRQVmBD ALtAYS~ aad tbes~ p~wnts u~ ~xecut~d and d~Uwred upoa tbe Eopowla~ coaditloas. to wlt: '1'I~ aat~,asa a~r~ to p~y tb~ sort~ap~. a ade~. tbi ~t~clptt pus of ~IM'Y~-'1110 ~O 1~ . ~noo--- . ~ . poljais (:Z2,ppp,pp as evideaced b~? ~ aote of, evsn d~t~ 1~ecewlth, wit6 iaterest E~ae date ot the nt~ cE ~yG,~' ~pp ~-~1i~ P~r ceatua~ ( @~ Pet aaauw oa tbe uapaid balance uaw p~?id. 'P6e.sata p~}actp4t.,d lacecesc d~ll be w~nbte ac cha otf~ce of J. Z. e~ lio~ col0lAliY, alc. SuitA 300 - 1Q0 Mitacl+s.lt~l~, O~cal G~bl~a, tLa~c3~la ~ a~t suc6 dLe+r place as th~ 6oide~ cf tbe a~te ~y desi~nate in wcitia~~ in moathly iastallmeat~ of 0~ RtAIDdi~ S~X'~'Y :~31~15 71~1D 1$/7.00--~------~.•~-~-~------flollars (S 169.18 coma~aaciag on the first d~y of a~e . ~ 19T0 , aad a? tbe fitst.day of each eonth thereafter nntUtLe;rincip~l aad iat~~eat ac~ fnlly,p~d.,except tbat tha f1ew1 paymeai of pcL?clpai and iaterest, if aot soonet peid, shall be due ~a ~y~~ an ctk t~t aaY~ ~ Ka~r. zooo : . Aad sbaU duly, pcc~ptly~ aad.fttlly pedora, discharge~ e~cecute. ef#ect. oooplete. a~u1 comply nvith and abide by each aad every tbe st~pu3~tioas, agFeements, ~ooditioos. aad coveapats of s~id p~omissory aote And of this mortgage, thea thts mo~tgage and tl~e eatate heceby created shall cease and be nnll aad void. And the mat~ega huther coveaants 4s folloas: " - That, be_ wiU ,aay the .iac~~btedqess. as ~ereipbefqre pcavided. -Pciirilege if ceserved to pey tbe debt in whole. ` a i~ ~a amoat~t~~qutl't~ "oa~ c~'~uie monthly paYments oa t6e pciacipal~that ar~ nezt d~"oa the note, oa the first - day of any maath pcior to matucity: Provided~ however, tbat writtee notice af an.inteatioa to exercise suc6 privilege is givea at least thiety (30) deys ptia to prepayment; and, provided fucthei. tbat in the event the debt is paid ia full ~prior to mstudty and at that time it is ins~ued uader the pcovisioas of the National Housing Act, he will pay to the ~g,ngee an adjusted premium charge of one per centum (1%) of the odgiaal principel amonnt theceof, except that ia no eveat shall the adjusted premiwn exceed the aggcegate amount of preminm charges ahich would 6ave been payable if the mo~tgage had contianed to be insure~ antil maturlty; suc6 p~yment to be applied by the mod- ~ gagee upon its obligptiea to the Secretary of Haqsing and Ueben Development oa account of mortg~ge insurance. 2. That, ia oeder ooe~e fully to pcotect the ~ecnrity of thias meetg,age, the matgagot, together with, and in addi- tioa to. the moathly paymeats uadet tlte ietos of the note secnred lKreby, oa the first day af esch moath until the said aote is fully paid, will p~y to the mortg~ste the follaving sums: (o) An amoant suflicieet to peo~rld~ th~ bolder ber~of wW~ fuads to p~~ We nezt mort~age inauraace pcemium it this iastnr ment aad We note seenred h~reb~ ~re lasar~d, ot a sonWlr. cLaar~e (in lien of • wortgage iaaurance premium) i[ they are_ 6eld bp the~Secsetac~ of Hwsi~ ~nd U:ban Dwelop~ent. •s toIIo~rs: (n If ~ad so loas ~s s~id.aptt ot eren date ~ad ~his Ltstrn~eM ~n insared ar are reinsured onder the provisions of We N~tional Housio~ AM. an ano~mt sot[ide~lt to sccbmulatt i~t N~ hands of the hoider oae (1) moath pdor to ita due date t6e aaaual mort~~e 3asusance preriue, It oedet~~o ~peovide suc6 holder ~riffi fonds to poy snchpremium to the ~ Secretary oi Housin~ ~ad Urb~e Developmeat qusuant to tt~e Natlon~l HonsinQ Act. ~s amended, aad ~pplic~ble Regu- latims theeennder; qr, ~ (In If and so lon~ as said aote oE even d~te and this inatiumeat are 6eld br t6e ~cretaq of Housiag aad Urban Develop- ' mep~ • monthly c6arQe (ia lien ot s most~aQe insur~nce premium) ~vhich s6d1 be in an amount equai to oeo-tavelfth (1/12) of one-halE (yS) per centum of the avenge outst~ading balance due on the note computed ~vitl~out toking into ' account ddinqueneies or pcepa~ma?ts; (b) A sum equal to the ~o~md rents, it aay, due. plua the p~eminans that ~vill nest become dne and payable on policies of [ire aad other hasard iasurance coverinQ the mortg~ged property, plus toYes and ~ssessments nert due on t6e moet- gage~ pwperty (all as estimated bq the mwtgagee) less aU sums rlrcady pald tbere[or divided by the nnmber of montha ' to elapse before oae moatl~ pdor to the date ~v6en such ~round rents, preminms. ta:es, and assessments wiU become de- ~ linqueot. such sums to be held b~ mortgaQee in trust to po~ said Qround rcnts, premiums. tues. andspecLlassessmeats; and ~ (c) AU pormeats meatioaed in the t~vo precedin~ anbsections of tlus pua~aph amd ail parments to be made ~mder the note secured hereb~ sh~al be added toQether and tbe ~gg~e~ate ~mount thareot shall be paid br the mortgo~or eacb month in • single paymeat to be ~pplied by tbe mort~a~ee to the following Items in We order set fort6: (n premium char~es nader the contract of fnsw~nce wit6 the Secretary of Hoosin~ and Urbsn Development. or monthly char~e (ia liea o[ moct~aee insurance premium). as tbe case m~y be; - (1n ~romd rents, t~ses, •ssessa~enR~t [ire. lm~ ~tbe~ hwrd ~~t~ca P~wns: - : • (Qn interest on tbe note secored hereb~ij and _ . _ - - . ~ ~ . . - (IV) amortisaHon oi tLe PtiaciP~l of s~id abte. • . . ~ • - - Any deficiency in t6e amo~wt aE:~uus~:q~egAte ~y peya~eat~shall; ~mless ~ade good by the matgagor prior to the due date af tbe ne:t sna~ p~ymeat; coostitnte;~n,-eveni~aE~defau.ft nnder this~moctg,ege. The mortgagee may collect a"late cbarge" not to exceed two cents (2~) for each dollar (=1) of esch payment moce than fiheen (15) days in amars to cover the e~ra espense involved in handling deliaqueat payments. 3. That if t6e total of t6e peyments mede by the mo~tg~gor under (b) of paragtapb 2 pcecediag shall e:ceed the ama~at of payments aetuaUy made by tl~e . moctgagee, foc g~oand rents, taxes and assessmeats and insurance premiums, as the case may be, snch e:cess s6a11 be credited by the matg,agee on subsequeat payments to be mede by the mortgegot. If, however, the mos~thly peyments made by the moctgagor under (b) of paragrapb 2 pce- ceding shall not be sufficient to pey gtoiu~d rents, tazes and essessmeats and insnrance premiums, as the cese may be, wheq tLe same shall become due aad poyable. tben the matgagor shall pay to t6e mortg,agee anY a~ount aecessary to make up the deficiency, on or befae tUe date when psyment of tauc6 groned rents, texes, assessments, or insurance premivms shall be dne. IE et any time the mortgagot shall tender to the mortgagee in accordence ~vith the pcovisioas of the note secuced herebq. fnll p~ymeat oE the eatire indebtedaess represented thereby, the mort- gagee shall, in co~pntiag tbe amount cf anc6 iadebtedness, credit to tbe occount of the moctgagor ell psymeats made ander the piavisioas oE (o) af perag~aph 2 l~ereaf which the oata,agee has not becoa~e obligated to pay to the Secretary of Hatsing aad Urban Developneat aral any b~?laace remaiaiag ia the fwds accumulated nnder the ~ pcovisiona of (b) of said paregxaph 2. If thece shall be a default under any af the pcavisioas of t6is mort~,ege, re- sulting in a public sele oE the pcemises covered heceby, a if the matge~ee acqnire~ the propecty otherwise aftec defeult, the ~artEa~ sball appljr, at the time af tLe zominencement of such proceedings or at the time the prop- edy is otherwise acquired~ the belaace thea remaining in the funds accumulated ~mder (b) af paragraph 2 preceding as a credit ag~Lnst the aaiouat of principnl then remaining aap~id under said note and shall properly adjnst any PeYmeats wbf~cb sl~ll ~ave beea oe~de nsder (a) eE said P~6~Pb~• 4. That be wiU poy •U taxes, assessments, wata rates, end dher sovecnmeatal or municipol chArges, fines, oc impositioas, for w6ich pcwision has. aot beea made bereinbefore, and ia defanlt thered the mortgagee may pay tbe same; aad tLat he aill promptly delivec the oEflcial ce4eipts t6ee+efor to the mo~tg~Bee• 3 r~ . ~t~ ~ eooK 185 P~1367 ~ ~ - ?