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Home My WebLink About1665 ~ • • ~ ~~{1i = , ~ s~ld aoetp~a does heeeby fully wan~at.tbs title to s~id laad~ aad ev~ry p~et therocf, ~ad will detend the same a`tlnst tl~ le~rEul c1aL~s af ~ll pnsous who~eo~wt. . PROVIDED ALWAYS. and thsa~ Pcss~ata ar~ enecut~d aad delivered upoa tba tolloriu~ coadltioas. to wlt: TIM ~atpso~ ~~es to y tlM satp~~. cc ade~. tLe pctncip~l sum oE $i9S~N1'~i1 T~AIID T~BH~AHDN0~00-------------...._..,......~~------------ Doll~ts (t 1'j~300.00 as evldenced by • aote of evea date berawitb. wlth Iatecest f~ d~te at the cate oE EIGHI' A1~ID ~iBr-HAI~ Per centuo ( 8} Per Aaaum oa tbe uapaid balance uatil poid. T1~e said ~ciacipal aad iatcrest sh~ll be pgyable at the office oE J. T. STB~IAB1' M~GS C~'ANY~ INC. in 3uits 300 - 100 Miraal~ Mils, Coral (~ables~ Florida. . cc at sac6 otbar place aa tbe holda of tbe aote may desi~nate in wrlting. ia monthly iastellments of ~iS HWIDRBD THIB'1'T-TEIIi~B A~TD 01t/100 - - - - - - - - - -Dollars (s 133.04 comme~ing on tbe first day oE June , 19 70 , aad oa the first day of eac6 month t6ereafter uatil the principiel aad iateiest are fuUy peid. except tbat the fu?al paymeat of pcincipal aad interest, if not sooner peid. shAll be due aaa p.yable on the ficst aay of Hgy~ 2000. ; . And shall duly, 'pramptly. aad fully perEoraa, dischacge, e:ecute. effect. complete, and coaply with and abide by eac6 and every the stipulatiaas. ag~ree~nents. conditioas, and coveaaats of said pcomissocy eote aad of this mortgage. thea this muctgage and the ~estate hereby created shall cease and be null and void. Aad the awctg,ogae fudhei coveaaats as follaws: . _ 1. That he will poy tbe indebtedness, as hereiabefoce pcovided. Priirilege is reserved to pay the debt in arhole. or ia aa amoant equ41 to oae a mae moathly peyments on the priacipal that are next due oa the aote, on tbe first day of any moath prior to maturity: Provided, however. that ~vrittea aotke of an iateatioa to exercise such privilege is given at least thirty (30) days pdor to prepayment; sad. provided fwthec, that in the event the debt is paid in full prio: to matudty aad at that time.it is iasured under the pravisions of the Natioaal Housing Act. he ~vill pay to the mo~tgagee aa adjusted premium chorge of oae per centum (176) of the original principel amoont thereof. except that in no event shall the adjusted premium eaceed the aggregate amo~at of pcemiwo charges which aould have beea payabl~ if the matgage had continued to be iasnred natil maturtty; such p~ymeat to be applied by the mod- gagee upoa its obligatiaa to the Secretary of Housing and Urban Development an ecccunt of mortg,age insurance. 2. Tl~at, in order more fully to protect t6e security of this matgage, the matgagoc~ together with, and in addi- tion to, the monthly paya~ents iwdec the terms of the aote secared hereby, on tlk first day af each moath natil the said aote is fully peid, will pay to the esortgagee the follawing sums: ~ (o) M amount suHicient to provide the holder hereof with fuads. to pa! the ae:t martQa~e ina~uance prcmiu~¢ it this instru- mmt and the note secured herebr are inswed, or a monthlr charge (la lieu of a mortgage insaraece premium) i[ they are 6eld~bp the Secretary ot Housin~ aad Ue~bw Development. •s toUows: (1) U and so loa~ as said note ot even d~te ~ad tLts insWment are insored ot ~re eeiasnred under the pwvisions of t6e N~tlon~l HousinQ Act, aa aoount sntticient to accumnlate ln the hands ot the Lolder one (1) montb prior to its dne date ffie amual mort~a~e iasur~mce pcemium, in order to provide such holder with lbads to pa~ suchpremium to the Secret~r~ of Hwsing and Urban Developmait pnrsuaat to tl~e N~tloaal Hovaiog Act. as ~meaded. and appllcable Reeu- latioas theeeunder. or - • (ln If and so loag as said aoEe of even date ~ud thia inswment are held by the Secret~ oE Housing and Urbaa Drvelop- meot, a moathly c6arge (in liea of a mortQaQe insurance premium) wr6lch shdi be in an omount equal to onrtaelfth (1/12) of oae-half (y4) per centum of the average ontst~nding balance due on the~ note computed ~rithout tating into accouat deliaqnencles or prepapmeats; - (b) A snm eqnal to ffie ~,mmd rents, if any. ne:t due. plns tLe premiums t6at wrill ne:t become due a~ad par~ble oa policies of fire aed ot6er hps~rd Insurance covering the mart~aged property. plus ta:es aad assessmeats nezt due on the mort- Qa~ed propertp (all as estimated b' tl~e mortgagee) leas all sams alread~ paid therefor divlded bq the number o[ months to el~pse before oae month pdor to.t6e date wr6ea such ground rents, premiums, tazes, ond ossesaments ~viU become de- j linqueat, such sums to be 6eld by mostgaQee in wst to p~y said ground rents. premiums. tues, aadapecial~ssessments: ~ and (c) All payments mmtloned in tbe two precedin~ snbsections of this paragraph and all p~yments to be made under t6e note secured herebY shall be ~dded togetLer and tbe ag~reQate amaiat t6ereof shall be paid by the mort~sgor each month in a single paymeat to be applied by the mortgstee to t!?e foilowing itams in fhe order set forth: (n premium ctuirQea under tLe contract of insnrance wiW tbe Sacretary of Housing and Urban Developmeot. or monWly charge (ia lieu of moct~e inaw~nce preon~mn), as tbe case moy be; ~ (In arouad reats, tues, assessments, fire, ~ad ot6er dasard insunace preminms; (II~ lnterest on the aote secured hereb~; ~nd= . • (IV) amortlsatioa of the prlncip~l oI said note: ' Any deficiency in the amouat af such aggregate monthly payment shslt, onless made good by the mortgagor pcior to the due date of the nezt snch payment, coostitute an event af default ander this mortgage. The modgagee may collect a"late charge" not to e~cceed two cents (2~) fa each dollar (Sl) ot eacL payment mae than fifteen (15) days in arrears to cover tbe e~dra e:pease iavolved in haadling delinqaent payments. . - 3. That if the total of the peyments made by the mortgagor under (b) oE paragraph 2 pceceding shall exceed the amount of payments actually made by tLe matgagee, for gROUnd rents, tazes and assessneuts aad insurance premiums, as the case may be, such ezcess shall be credited by th~ mortgagee m subsequeat peyments to be made by the mortgagor. If, hoarever, the monthly paymeats made by the matgagor under (b) of paragraph 2 pre- ceding shall not be safficient to pay g~ound rents, taxes and assessmants aad insuraace premiums, as the case may be, when the sam~ shall become dne and payable, then tbe mortgagor shall pay to the mortgagee any amount necessary to malce np the deficiency, oa a befae the date when payment of snch g:ound rents, taxes, assessments, or ins~uance premiums shall be due. If at any time thr-mortg,agor shall te~er to tbe mortgagee in accordance wiffi the provisions of the nde secured heceby, fnll payiseM of the eutire indebtedness repceseated therebq, tbe mort- gagee shall, in computing the amoont of snch indebtednese, credit to the accouat of the matgagor all pnyments made nnder the pro~visions of (aJ of paragraph 2 bereaE wbicb the matgeges l~s not bccome obligated to pay to the Secretary_of ~~ousing aad Urban Development aad any balaace rernaining in the funds accumulated under tbe pravisions of (bJ of said pacagRaph 2. 1f there shall be a default ~ader any of the pcovisions of this martg,age, re- sulting iu a public sale oE the pcemises covered he~eby, a if the matgag~ee acquires the property otherwise after defeutt, the matgagee sholl apply, at the time af the com~encement of snch proceedings or at the time the prop- erty is otherwise acqnired, tbe balanoe then remaioing in the fonds accumnlated uoder (61 ~ ParaBraPb 2 preceding aa a credit agpinst tlx amouat of principal then remaiaing un~aid ~nder ~aid 0ote aad shall properlyadjust any paymeats which shall'have been made aader (a) af said paragtap6. 4. That be will poy all ta:es, assesamrnts, water rates, aad other governoeatal or -miicipol char~es, fines, or impositiaos, for which pravisian has not beea made hereinbefae, aad in defaalt thereaf the mortgagee may pay the same; aid that he will pcosptly de.liver tbe afficial ceceipts tbecefor to the mortpgee. i ~ s~..~ ~ t'f ? ~ ~ ~0~1~5 ~1666 0 ~.~s~~t.~.~,~~,~- - - - _r:~:~: