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Home My WebLink About1463 • 1 ~ + , ~~Y - , ` , , ~ sald ~noctp~a does be~eby fully watraat the title to ~aid laad. and every port thereof. and will defend the same apiast tha 4~rful c4les of all persoos whoaisoevee. PROVmED AL.wAYS, aad theae preseab ~re exescuted ~nd delivered npoa the following conditious. to wit: The aat~at« ~~re~es to~q tbe a~atga~ee. a ader. the prlaclpol sum oE 'j'~jR'~j~j 'j'~OjJ$/uijD $jX AWWi~i/ ~ L~0/~W~~~~~~~~~~~~~~~~~~~~w~~~~~~~~~r~~~~~~~~~~~~~~~~~~~~• DolLes (i L$ ~600.00 •s evideaced by a note of ewa date hecewit6~ with Iaterest from date at the ~ ~ ate of e~t1t atld OQ6~h~lf pec ceatum ( 8~ 9i) P~ annua aa the unpaid balance ` uatil poid. Tbe aaid p~iacipal aad iatecest shall be payable at tbe office of J. T. STEWART MOR'n3A~'i6~ ' COI~ANY, INC., a corporation under tbe La~s of the State of Ftorida ocs.a•t s,~nch at6ec pl~ce ss the holder oi the aote may desigaate ia wdtiag. ia monthly installmeata ~ O118 Awwl"0d FO~' 8t1d S8/L~~~~~~~~~~~~~ ppl~[s (s 1~~•58 CommCnCing oQ the first day of OGtOb~t' , 19 70, ~i on t6e first day o# each month thereaher uatilthep~iACtpa1 ' ~ aad Iaterest ate fully p4id, e:cept tbat the fiaal paymeat of priacipal aad intecest, if aot aooaer paid, shall be dne ~ and payable oo the first d~y of September, 2000 ; And shall duly, pramptly. aad fully pedocm. discharge, execute. effect, complete. aad. comply with aad abide by eac6 aad eve:y the stipulations, ag~reements, conditioas. and coveaeats of said praaissory aote and of this mortgage. then this moctgage aad the estate hereby crested shall cease aad be null and void. ~ Aod the mactgagoc further covenants as follows: ~ . ~ 1. Tbat 6e will pay the iadebtedness. as ~reiabefore pcovided. Priirilege is resecved to pay the debt ia ~rhole, as in an amau~t eqoal to oa~ o~ mace monthly payments oa t6e priacipal that ace neat due oa thc aote. oa the first . day af any maath prior to msturity: Provided, however, t6at written notice of aa intentiai to exercise such privilege . is givea at least thirty (30) days pdoc Eo prepaymeat; and, pcovided fudher, that in the eveat the debt is paid ia full prior to matudty and at that time it is insiued uader the provisioas of the National Haising Act, he will pay to ~ the mortgagee an adjusted preminm charge of one per ceatum (196) of the original priacipel amount thereof. except that in no eveat shall We adjnsted preminm exceed the aggcegete aaAOUat . oE pceauum charges which would have been payable if the matgage had coetinued to be insured natil matnrity; such payment to be applied by the mort- ~ gagee npoa its oblig,4tion to the Secretacy of Hoasiag sad Urban Development oa account of moit~age insurance. 2. That, ut order ma+~ fnlly to pcotect the security of this mortgage, the mortgegor, together with. aad ia addi- tion to, the maathly payments w~der the terms of the note secured heceby, oa the first day of each month until the said note is fnlly paid, will pay to the awrtgagee the follawing sums: ~ (oj M amonnt suHicieat to provide.the holder Lereof witb tunds to pa~ We ae:t morteaQe iasurance premium if this instnr mmt and the note secnred hereb~ are iaswed. ot • monthlr ch~rQe (in lleu ot a mortQage insurance premium) iE they are held b~ the Secretar~ of HonsiaQ and Urban Development, ~s [ollows: (n It ~nd so lao~ as said aote of even d~te aad this InsWment.are insnred oc are reinsured under the provisions of the Natioaal Housjng Act. aa amouat sut[icieat to accmm~late in tLe 6~ads of ffie ho2der one (1) moath prior to its dne date the ~nnud mo~t~a~e insuraace premium, ia order to provide such holder with tunds to pay suc6 premium to t6e Secretac~ of Honsin~ and Urbon Developmeat pursuant to tbe Natlonal Honsin` Act. as amended, aad ~pplicable Regu- lstims there~mder, or (In If aad so lw~ as said note o! evea date and this instiumeat ate Leld br tbe Secretary of Housiag aad ilrbon Develop- men~ R monthl~ charQe (ln lieu of a mort~e insurance premiam) wbich shdl be in am amoant equal to onrtwelfth (1/12) o( one-htlf (yi) per centum of the aven~e ontshndio~ b~lance dne on the aote computed writbout takiog into ~ccouat delinqaeacies or prep~ymeats; ~ (bj A aum eqnal to the gromd rcats, if aar. oe~ct dne. plns the premiiuma tbat aill nezt become due and payable oa policies of fire and other hasard insorance coverin~ the mort~o~ed property. plus tozes aad asseasments nezt due oa the mod- gaQed propert~ (~il ~s estiuated bp the mortga~ee) less all sums alreadp paid fheretor divided by t1?e aumber of months to elapse before one month prior to t6e date wihea such ~round rents, premlums, tazes, and assessments will become de- } linquent, snch sums to be held by mort~agee in trust to pay said grouad reats, pcemiums, tues. aad apecial asaessmeats; ~ ~ aad j (c) All payments msntioned in the tw?o preceding snbaectiona of thls paragrap6 and all pwyments to be made under the aote f ~ secnred hereby shall be added togetber ~nd the a~eQate omount thereof shall be paid by the mortgagor each month ia a ; singie payment to be ~pplied by the mortgaQee to the follo~vinQ Items in the order set [orth: ' € (n premium charges nnder the coatnct of ias~uraace wiW the Secretary of HousinQ aad Urbaa Developmeat, or monthly i chac~e (in lien oE mortgage inamance premium). aa ibe case mo~ be; ~ (Iq aro~md rents. tuea, ~ssessmeats, fice, and other hazard iasurance premiums; . CUn intercst on the note secured hereb~; ~nd • ~ (1{~ amortis~tion of t6e prieclp~l of said aote. Any deficieacy in the amount d such aggregate monthly payment shall, unless made good by the moctgagor prior to the dae date of the.aext such pey,paent, constitu~e an event af default under this mortgage. The modgagee may collect a"late charge'~ not to exceed two cents (2~) far each dollar (Sl) of~sch payment more than fifteen (15) days in arrears to caver the extre ezpense inrolved ia handling delinquent payments. - - - - , , - . - 3. T6at if the total of the prymeats made, by tbe mortg~~or~uader.(~) of paragraph 2 preceding shall e:ceed the amount of ~payments actnally made by the matgagee, for grouad rents, tases and assessments and iasurance premiums, as the case may be, s~ch e:cess shell be ecedited by the mortgegee on subsequent payments to be made by the mortgagor. If, hawever, the monthly paymeats made by the mortgagor under (b) of paragraph 2 pre- ceding shall aot be s~fficieat to pay ground rents, taxes and assessmants aad i~urance premiums, as the case may be, wben.the sam~ shall• become due and paysble, then the m«tgagor s6~11 pay to the matgegee eny smauit necessary to make up the deficiency, oa oc before the date ~vhea Paymeat of such gro~md rents, ta:es, assessments, ~ ~ insaraace premiums shall be due. If at any time the modgaga~ shaU tender to the uwdg,agee in accocdance with We pcovisions of tbe note secored hereby, full payment of the entire indebtedness repcesented t6ereby, the mozt- gsgee s6a11, in compnting the amount af snch indebtedness, credit to the accouat af the mortgegor all peyments made nnder the provisions of (a) of paragraph 2 bereof ovhich tbe matgagee has not become obligated to pey to the Secretary ef Housing aad U~baa Development aad any balance cemaining in the funds eccumulated under the ~ provisioas of (6J d said pacegrap6 2. If tbere s6a11 be a default nnder any of t6e pravisions of this martg,age, rr ? sulting in a publi~ sale af the premises covered aereby, on if tbe oatgagee acquires the property otheiwise after ' default, the matgagee ahsll apply, at the time of the com~ncement oE such proceedings or at the time the prop- ~ edy is othenvise acquired, the balence then remaining in the fnads accumulated under (bJ of pareg~ap6 2 precediag ~ as a crcdit ageinst the amount of prlncipal thea. remaiaiag twpai~ undec said note and shall pcoperly edjust any # P~Y~ats which shall lwve been made ucda of said P~6~Pb- . j Tl~at 6e will pay oU taaes, es~essments, wata rates, and dher goveramental oc muaicipel chatges, fines, a impositioos, for which pcavision has not been made bereinbeface, and in default thereaf the mortgagee may pay ~ the same; aad that he will promptly deliver the aEficial receipts therefor to the moctgaagee. ~ a~~85 ~14~4 . ~ ~ ~i ~ ~ ~ ~ }