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Home My WebLink About1371 , ~ i ~ t}!~~• i sald eat~a~or does lw~eby Enlty wamat tbe titb to said l~ad. ud every put tbereoE. ud wlll detead the s~me a~iast th~ tawful claims of all p~csaas wl~msoewc. ~ PROVIDF,D ALMAYS, aad tbest ~?ns~nts an e~cec~ted aad delive~ed upou t1~e foUawla~ ccadltioas, to wlt: '1'1~ ~o~tNta a~nta to pay th~ way,~iM. cr ocder. tbe Qclaclp~l saia of 11D~ET~N lHO~A11D BIt~ Hi~AND~10~100---_..~..~..-------------........------ Dollan (t 19~~.~ aa evl~eaced b~r. a noto of even dute becewitb, wlt6 iate~est froa date at the nt~ af ~I~' ~~1$-HAyF per centuo ( 8} 9G) per annua oa the un~id bolaoce uatil p~id. '1'1~e sald priaclpql and iatereci shall be pqyable ~t tbe ofEice of J. T• $TSi~ART M0~'Gl(~ CC~JINY~ L~iC. in Snits 300 - 100 lli.racle Mile, Coral (iablsa, Florida. ac ~ aucb otba plpce +~s tbe holder oE tbe note awy desi~wte in wcitlag, in moatbly installmeuts of ~F H1~iD$8D F'IlTY-1~i0 AI~D 2b/100 - - - - - - - - - - Doimrs (s 152.26 commeacing on t~e t~t d.y of - Juna . 19 70 , aad oa tLa flrst dRy of e~ch moath theceafter until the p~Iacipal ~ad iatecest are fnlly Q~jd. e~tcept that the final paymant of principol aad iaterest. if not sooaer paid. slwll be due and payable oa the fizst day of Ke~q~ 2000. ; - And s2w11 duly. praoptly, pred fully perfocw, di~chacge. e:ecute, effect. cooplete, wid caoply Mrit6 and abide by ~~ch aad every tbe stipulatioag, ag~reemeats, conditions, and coveaants of said pcanissory note aad of this mortgage, theu t6is mortgpge aad the estate bereby creat~d shall ce~?se and be aull and void. , ~ And the matg,sga fuither coveaaata as follows: - 1. That 6e evill pay the indebtedaess. as hereiabefore provided. Pri'vilege is reserve~ to pey the debt in whole, or ia aa amount cqpal to~ oae a mae moathly paymeats oa the priacipal that are next due on the aote, on the Elrst - day of aay moath prior to-maturity: Provided, 6owever, that writtea notice af an iateatien to exercise sncfi pcivilege is given at least thirty (30) days pria to prepayment; and. pcovided f~uti~er, t6at in the eveat the debt is peid in ful! prior to matudty and at that time it is insured under the pro~visioas of the National Housiag Act~he ~vill pay to the mortgagee an adjustea premium chuge of oae per centum (1%) of the original principel amount Wereof. except that in ao eveat shall the adjusted premium e:ceed t6e aggregate amouat of premium charges ovbich waild have beea peyable if the matgage had ooatinued to be iasured until c~tnrity; such payment to be applied by the mod- gagee upoa its oblig,ation to the Secretary of Housing aad Urban Development oa account of mortgage insurance. 2. That. ia order moeti fnlly to pcotect the security of this matg,sge, the mortgagor. together with, and in addi- tloa to, the moathly payments nnder the terms of the aote secneed hereby, oa the fi;st day oE each month until the seid ade-is fnlly paid, will pey to tLe matgagee fhe follawing sums: ~ (a) An amount snfticieat to provide the holder hereof. with f~ad~ to p~~ the nen mort~age iaaunnce premium if tLis inatru- ment andthe note secured hereby are insnred. oe • moatblr cbarQe (in Ilen of a moetgage ias~uance pcemium) if tLey ~re held bp the Secret~ry of Honsing and Urb~a,De~elopment. as tollows: . (I) If ~ad so loaa ~s said note ot even d~ce and this instrnsent ~re insared or aro reinsured nnder the proeisioas of The National Barsin~ Act. an ~aau~t suf6c~wt to accnmulate ia t6e haods ot the holder one (1) moat6 prlor to its due . date the amu~l mort~a~e iasnrance preminm. in oeder to provide wc6 holder wit6 funds to pay sucL premlum to tbe Secretar~ of HousinQ and Urb~n Development pursu~nt to tLe Pation~l Housin~ Act, u«ended. aad applicable Regu- latioas theeeunder, or - (In If and so long os said note d evea date and this insteumeat a~e held by tl~ Secret~ o[ Honsing and Urban Develop- meat. ~ moathir ch~rQe (in llen of • mort~aQe fnsnr~ace peemium) ~vhich shall be in an amount eqwl to onrt~veUth (1/12) of one-half (~jS) per centnm o( the a~ersce ontsWdin~ baloace due on the note computed ~vithout taking into account dellnqueaciea or prepapme~ts; (b) A sum equal to ffie ground rents, it aay. aezt dne. plus tbe premiums Wat will nert become d~e and payable oa policles of [ire aad other hasard iasuraace cove~ the mortgaQrd property. plus ta:es wad assessments nert due on t6e mort- ~ gaQed pcoperty (all as estim~ted bp the mortgagee) less all sums ~lread~ paid ffierefoi divided by tbe aumber of months F to elopse betore one montb prior to th~ date when sucb gFound rents, premiums, ta:es, aad assesaments svill become de- ~ llnqueat, such aums to be held by matQsQee ia trust to p~~ said ~onnd rents, premiums, t~es, and specLl pasessments; - and . r (eJ Ail paymeats mentioaed ia t6e tao piecedin~ snbsec4ons ot t61s pan~apb and all pw~meats to be made under the note ~ secured hereby shall be added to~ether aod tl~e ag~eaote amount thereof sbdl be paid by the mortgagor eoc6 mont6 in ~ siagle payment to.be applied 6y We mortQa~ee to the following items in fhe order set-fortL: ~ (n premium charges nnder the canMCt of iasur~nce ~viffi .tLe Secretar~ ot Honsia~ and Urb+m Developnent, or monthly c6arge (ia lien of mortQage insnrance prsminm), as t6e cue may be; (In ~round rents, t~es. asseasments, fjre. ~nd otLer; hazacd ias~nce premiums; (pn laterest on tbe note secured 6erob~; and ,E (IV) amortisatioe of t6e principal oE said note. i: Aay deficiency in the aaaunt d such aggregate moathly peymeat shall, ualess made good by the matgagor prior to the dne dete of tbe nert snch paymeat, coastitute an eveat af default under this mortgage. The modgagee - may collect a"late charge" eot to exceed two cents (Z~) fa each dollar (Sl) of eacb payment more than fifteen (15) days ia srrears to caver the eztra espense involved ia handling delinquest peyments. 3. That if the total of t6e peyments made by the matgagor ander (b) of paragrapL 2 pcecediag shell exceed the amount af payments actually made by the martgagee, fac g~amd rents, taxes and assessments and iasurance peemiums, as the case may be, such ezcess shell be credited by the matg,egee au subsequent payments to be made by the mortgagor. If, ho~rever, the monthly peyments made by the mo~sgor unde~ (6) of ~a~apb 2 pre- _ ceding shall not be sufficient to pay gconnd rents, taxes and assessmants and iasurance premiums, as the case may be, ahen tbe ~ame sLall become dne and payable, then the matgagoc shall pay to the moctgagee any amount necessary to malce up the deficiency, oa a before tbe date wbea payment of snch girouad rents, teaes, assessmeats, or iaaurance_ qemi~ms shall be dne. If at any time the matgaga shall teader to the moetgagee in accordaace ~rith i tlie provisioas of t6e note secnrad hereby, fnll payment ot t1K e~ire indebtedness repcesented theiebq, the ewrt- gagee shall, in coe~pntiag the amo~mt d snch indebtedt~ess, credit to tLe ~ccount af tbe eortgagor all paymeats made undec the pravisions of (a) af pprag~aph 2 hereaE whi~c6 the moctgagee hes not becaae abtigated to paq to the Seccetary d Rousing and Ucbaa Development aad any balance remaining in the funds accumnlated under the provisions of (6) af said paregraph 2. If there shall be a deEsult under any of t6e provisions of this mortg,age, re- snltiag ia a public sale af the premises covered hereby. oc if the mortga~ee acqnirea tbe property dt~envise after defeult, the mertgagee sball ~pply, at t6e ti~e d~'the commencement of such proceeding~s a at the time the pcop- edy is otherwise acquired, the belance tbee remeining in the fnads accumulated uuder (bJ of paragraph 2 preceding as a credlt ag,aiust the amaunt of prlncipel thea remaining turpaid ander said note end shall properlyadjust eny payaieats arhich sNall lwve beea msde uader (aJ o[ said pua~ph• 4. T6at he wlll pay aU ta:es, asaessments, rvata rotes, and otber govem~oeatal or mnnicipol chacges, fiaes, or impositians. for which pravision has aot been made hereiabeface, aad in defonlt tbereof the matgagee may p~y t6e same; and that he will promptly deliver the afEicial ceoeipts t6erefoc to the mortg~gee. ~ . - ~1~ ~ : ~ ~1372 ~