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Home My WebLink About1709 ~ T r~~~ ' ~ j ' ~ y , . , said watp~or does heceby fully wuaat the titk to s~ld land~ and evecy p~rt the~eoE. and will detead the saws o~iast il~ lawful clal~s of ~11 pascas w~osso~wr. . PROVIDED AI.WAYS. ~ad thete paseab ars eYecuted and dsliv~red upoa the followiaR coaditioas. to wit: T6e satt~a~~ a~ees to ps~ t6e satea~ee. a ader. tbe prlacipal sum aE ~'OUAT~~ '180jT8~TD ~ ~ ~ ~O/~~~~~~~~~~~~~A~~O~~~~~~~~~~~~~~~~~~~~~~~A~~~1A~ • 'Qallars 1~~ 800 • 00 as evideACed by a oote oE evea date herewith, wlth inteteat fcaa date at the nte af SItiST AxD OXiw~W.l~' per ceatuo ( 11} 7G) Qer anauai an the uapeld b~lance until p~id. Tbe said priocipol. and Iatecost shal~ be payable a~t the office of J. T. STl'M~RT 1[9jt'l~i~OS COItpA)iY. Il[0. 1~1 ~~t1t• ~O - 100 Miraol~ Mil~. Ceral 6wblos. ~'lorida a at suc6 cther pl~ as the holder of the aote may desigpate in wciting, ia montbly installmeats of o~s ao~asn ~s~sssx iwa s~/too_-: no~~~ cs ~ a 3. 8~ ~~R~~g the first day vf pO~Oti~~ . 19'~O . and aa the iirst day d each month thenafter uatUthepriactpal and intee~ast aee Enlly paid, except tbat the fioal peyment of principal and iatere~t, If aot sooaer peid. shall be due end poyable aa the first daY ~ S~pt~~ab~r~ ~2000. ; And shall duly. pra~ptly, aad fully perform. discharge~ execute, effect. complete, and comply witb and abide - by each aAd every Zhe stipulations, agFeemeats, coaditioas. aad covenaats of said pcomissory aote aad of this mortgage. t6ea this mortgage and the estate hereby created shall cease and be null and void. Aad the mactg,sgoc further covenaats as follows: 1. That he ~ill pay the indebtedness, as hereinbefoce pcovided. Privilege is reservcd to pay the debt in ~thole, oc ia aa amouat eqwu to one a moce moathly payments oe the principal that ore aext due o~ the aote, oa the first day of aay moath prior to maturity: Provided, however, that writtea aotice af aa iateation to exercise such privilege is givea at least thirty (30) days prioc to prepayment; and, pcavlded fucther, that in the eveat the debt is paid in full pcior to maturity and at that time it is insured under the provisions of the Nationel Housing Act. he will pay to the mortgagee aa adjusted premium cherge of one per ceatum (l~i) of the original principel amonnt thereof, except that ia no eveaf sLall the adjusted premium exce~d the aggregate amauat of premium charges Which would have beea payeble if the mortgage had coatinued to be insured natil maturity; such paymeat to be applied by the mort- gagee upoa its obligatioo to tl?e Secretary of HousiuB and Utboa Development od a~copnt of mortgage ins~uaace. 2. That, in order m~ire fully to protect the secncity of th~s moitg,age, the mc~rtgagor, together with. and in addi- tion to. the moathly payments nader the terms of the ttote secured hereby, on the first day of each month until the said note is fully peid, will pay to the mortgagee the follaaviag sums: (a) An amount sufticieat to provide the 6older hereof ~vlth fuad~ to pay the aezt mortgage insuraace piemiam if this instrti- meat aad the note secured hereby are iasured. or a monthly c6arge (ia lieu of a~moctgage iasuronce premium) if they ue held br the Secretary of Housing End Urbon Developmeat, as foUowis: . (1) U and so loa~ as said note of even date and t6is insWment are iasnrcd or are reinaured under the pmvIsions of the National Housfng Act. an amount sutGcimt to accumnlate in the hands of. the holder oae (1) moath prior to its due date the annual mortq~a~e 3ascy~nce,premiym~ in.ocder co„~pwvi. ~guc bold~. i taRs~i ¢ W,yt_~ Wa to the . n ~t pryp} 'Secretaryr df Kbu~tidt ~nd Urban Henelopment ~porsnaet to me N~ti al ousin~ Ac ,•as a~dbd, a sppllcible Regu- lations 1Lecenader, or If and so loog as said aote of evea date aad this inst~ument are held by the Secretaryr o[ Honaiug and Urban Develop- . ment, a mont6ly charge (in lien of a mortgage insurw~ce premium) ahich shall be in tn amounf equal to onrtwelfth (1/12) o[ one-half per centum oi the average outstanding balance due oa the aote com~wted ~rithout taking into account deliaquencies or pcepaymentrs; (bJ A sum equal to the ground rents, if aay, next due. plus the premiums that ~vill nert become due aad payable on policies of fue and other hosard insurance coveriag fhe mortgaged property. plus to:es and •ssesaments~ nezt due on the a?ort- , gaged property (all as estimated by the a?ortgagee) lesa all sums olready paid therefor divided by the number of months to elapae before one month prior to the date ~v6en such grouad renta. premiums, ta:es, aad as~essmeats wiU become de- ~ ; Iinquent, such sums to be held by mortgagee in trust to pay safd groand rents. premiums. tues. and ~peciol assessments; ! ~d ~ (cJ Ail paymenta mentioned ia the t~ro preceding subsections of this paragraph aad all p~yments to be made under the aote secured herebr shall be added together and the •g~regate amouat thereof shall be paid by We mort~agor each month in a single payment to be applied br ffie mortgagee to the toliowing items ia the order set fort6: _ " (n premiom charges under the contract of insurance writh t6e Secretary ot Housing and ilrban Development. or monthly ~ charQe (ia lien of moct~e insnrance premium), as the crse m~y be; (I~ ~rouod rents, tazes, assessmmts, fire, and otber hosard insurance premiums; (IIn _interest on the note secured hercby; and (IV) omortizatlon of the principol ot said note. Any deficiency in the amouqt vf-such a~regate~monthly pa~meat shall, iwless made good by the mortgagor prior to the dne date of the aeat suah pay~ent, constitute an. eve~t,af dgfaul~ p~er this a~ort~,age. The modgagee may collect a"late charge" aot tq ~zceed two cents (2~) for,-ea~ dpllfar (S~ ~ e~b,paym~pt more than fifteen (15) days in arrears to cover the extra expense invQlved in handlusgdelinqueet p$~o~e~t~~; 3. That if the total of the paymeata mede. tiy the, moit~ago~,4~ ~r [b~ of :paragrayh~2 pr~ceding shall exceed the amount of payiaeats eCtually m~de by the matgagee, ~ot ~ound rents,. tpxes ~nnd-4ss~ssn~eats and insurance premiums, as the case may be, s~h eYcess shall be ccedited by the mortgagee on sulisequent paymeats to be made by t6e mortgegor. 1f, however, the monthly paymeats made by tbe moctgagor under (b) of paragragh 2 pre- ceding shall not be sufficient to pay gcound rents, ta~ces and assessments and insnrance premiums, as the case may be, when the _~a~qe. s~?~11 become due and payable, then the mortgagor shall pay to the mortgegee any amouat necessary to make up the deficiency, on a before the date whea payment of such ground rents. taxes, essessments, ~ or insurance premi~ shall be due. If at any time the mortgagor shall tender to the mortgagee in eccordance with the provisions of the aote secured hereby, fall payment of the entire indebtedness repceseated thereby, the moit- ~ gagee shall, in computing the amonnt of snch indebtedness, credit to the account af the mortgagor all payments made uader the pravisioos of (aJ of paragFaph 2 hereuf ahich tbe mortgagee bas not bec~e obligated to pey to the Secretary of Housing aad Urban Development aad aay balance cemaining ia the funds accumulated uader the provisions of (6) of said paragraph 2. If there shall be a default under aay of the pcovi$ions.nf this aaQrt,g~ge, ce- sulting in a publi~c sale of the premises coveFed hereby. or if the. mprtga~ee acquires tlie propedy otl~e~vnise after defeult, th~ maetgaget shall apply, at the tl~ of the commencement of such proceedings or at the time tt~e prop- edy is othenvise acquired, the balance then remaining ia the funds accumulated under (6) of paragraph 2 preceding as a credit ag,~inst the_ ~mwu~t of- priQC,i{~al thea. remaining. uapaid uadea said note pad ,shalt properly adjust any PaYments wliich s6a11 he4e been made under (u) of seid paragcaph. _ ' ' .2 4. That be wiU pay aU tazes, assessments, water ratea. and other governmental or municipal charges, fines, or impositioos, for which pravision has aot been made hereinbefae, and in default theceaf the mortgagee may pay the same; and that he will promptly deliver tl~e oEficial recaeipts tberefor to the mortg,agee. y j q ~ f • ~ E~i~ ~~~i~ ~ ¢ ~ _ - _ . - :