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Home My WebLink About1717 : . i , ~ t 1 vt`r s ~ . _ . , E ~ aald eatpsa does beeeby fulty waaant tbe titk to safd' laad. and every port tbereaE. aad wiU dsfeod tbe saias ~-+~aiast t6~ law[ul clai*s oE all p~rsoos ~ri~owswwt. " PROVIDBD ALNAYS, ud f~ peoseab an executed aod deliwied upoa the EoUarla~ coaditioas. to wit: T~e rat~a a~cees to P~y tbe vatpea~. or adet. tbe p~incip~l w~s oE ~'OIIATii~X TSOV8~1lTD - ~ ~ ~/1~~~~~~~~~~~~~~~~~~~~~~~~r~~~~~~~~~~~~.~~~s~~ polJoa~~~ as evidenced bq a nota t~f eres d~te herewith. with iatecest from date ~t the u~~te af SI~' ~D Oxi-~L~ pst c~atu~ ( 8~ P~ anaua oa tbs m~paid b~lance ipW t~id. Ti~s said princip~l aod tnt~cest s6~11 be p~yabl~ at the.office of J. . T. 81`~iI~T I~OR1'A~4s OplLp~?XY, I11C. ia Suit• 300 - 10A lLiraal~ l~il~. C~ral Aabl~~, ~'lorida ~ - . { ~~y. . , ~ , ~ . at at suc6 dber Plaoe as the.lwlder oE the nde osay desigaate in writiag. ia acathly iastt~llsents c[ . o~ av~~ xuts ~ 97/ ~ oo--------- no~~ cs ~ 09. 9? . ro~;~ ~ - tbe first day cf Ool~b~r . 19 7p a~d oa tl,e finc day d aich .c~t~ ttiere~fter a.cilc6eprincip.l and iaterest are fnlly pnid. esoept ti~t t6e fiaal paymeat of priacipal aad interest. if aot soaner paid, sball be due and poyable aa tbe first daY ~ 8•p t~~bor f 4000. ~ ~ And s6a11 dnly. praoptly, Qad falijr pedore, distharge. execate, effect, cooplete, and cooply with aad abide by each and every the stipulations, a~eements. coaditiaos, and coveaants of said pcomissory aote ead of this nwdgage, Wea this mortgage aad the estate hereby cr~ted shall cease aad be nuU ard void. . Aad the matgagoc further coveaants as foilows: l. That 6e will pay the indebtedaess. as hereiabefora pcovided. Pci'vilege is resecved to pay the debt ia ahole, or in an amo~tat eqnal to oae o~ ma~e moathly peymenta on the priacipal that are aext due on the aote. oa the first day of any manW prior to matarity: P.ovided, ho~vever, that writtea notice u# an intent,iea to exercise snc6 privilege is given at least thirEy (30) deys priac to prepayment; aad, pravided furthec, that in tLe event tbe debt is paid in full prior to "matnrity and at t6at time it is ins~red mtdec the provisioaa of the Natiaial Honsing Act, he will pay to the matgagee an edjusted pcemium charge of one per ceatum (19L) of the orig,iaal pcincipel amount thereof, except that ia ao event shall the adjusted prrmian exceed tbe aggcegate amouat of p~eminm cbacges which would have been payable if the matgage 6ad coatinued to be im~ured nntll met~uity; sncb ppya~t to be applied b~.the mod- • gagee upan its oblig,atiaa to the Secretary of Ho~iag and Urbaa Developeent aa aocount of mortg~ge iasurance. - 2. That. in ocder moce fully to pcotect the sec~uity of thi~ mo~tg~age, the moitgagor, togetber ~vith, and~in addi- tioa to. the moathly paymeats w~der the terms of the nde secared bereby, on t~ first day oE e,wch month until the • said note is fully paid, aill pay to the mortgagee the follawing snms:. (o) An amau~t snQicient to provide We 6older hereof with fuads to pa~ tl~e ne:t morteaQe insurance premium if this iestrn- ~ meat +ad the aote secnred hercby ase insiued, or • monthly c6uge (in Ileu of a mort~age insuraace premium) if they are ; held bp the SscsetarY of Haesing md Urban-D~evelopment. as tollowrs: ~ (n If aad so laoe ~s said note of even date and this iastnia?ent ~te insured o~ ~re reinswed tmder the provlsi~s ot the Natlonal Hoaala~ Act. rrl amount sn[Gciept to accuypul~t~ in„th4 bands.-ot tLe ~lder.pne (1) ~qqt6 prioe to its,dut - date: t!~ ar'inu~!' ooe4'~~e insar~nee premius. ia oider to provide` soc~ holder` i6i tunds to pa~ snch premium to t6e Secretar~ ot Housing ~nd Ueb~n Developmmt pursuant to tl~e Natioa~l Housing Act. ~s amended. ond applicable Regu- lationa thereunder, or If and so loag os aaid aote d evea date a~ this iastiumeat are held br the Secretery ot Housing and Urbaa Develop- mcnt, a monthiy c6arge (in llen of • mortQage iusnraace premium) wr6ich shall be ia aa amount equal to one-twelith (1/12) of one-h~lf (~/i) per centum of the ~venige outatanding balance due on tbe note computed wItlwut takiag into account delinqueacies or prepa~mr!a; (b) A sum equal to t6e gronnd rents, if an~, nezt dne, plus the premiums that Rill nert become ~e aad parable ou policies of Cue and oWer hasard insnraace coverinQ tbe mort~aged propertp. plus tazes and assessments aert dne oa the mort- ~ gaged pwperty (all as estimated bp the mortga~ee) less aU sums alread~ paid therefcr divided~by the aumber of moatbs to elapse betoce one mont6 prior to the date ~r6en such ground renta, premiums. tazcs. and assesaments ~vill become de- ~ linquent, snch :ums to be held by moctgagee in trust to pay said ground reats, premiums, tues, andspeciolassessmeats; ~n ~rm~c$ mepuonea in cbe ~..o preceding subsections of this pareg~raph and ali payments to be made uader the aote ~ ~ ~ secured herebr shall be added to~etber aad tLe agg~egate amount thereot shall be pald b~ the mort~agor each awatb in • aingle payment to be applied b~ the mort~a~ee to the follo~ving items in tha order set fortA: ~ (n premium charges nnder the contracR 'ot idsuraace ~rtt6 tHe Secret~ o[ HousiuQ and Urban Development. or monthly charge (in liea of mort~a~e inaqqpce~,~,e~q?iom~ •s.tLa csse vsy bs;. (In erouad rents, tazes, ~ssessmeats; Grl: a$d othe~r 6as~rd insuiaoce premium~: (IIn interest on tLe note sec~red heteby;_ adA~ : r. " ~ - . ' " ' - . . r_ ' ; . - (IV) amortisation o[ t6e priacip~l of sa3d qot~. Y:.: - - - Any deficiency in the ama~nt of snc6 aggrgg,ate monthly payment. s,t?a11, uuless made.good by the matgagor prior to the due date of tbe ~rt such ~~yment, ~onstitute's~t ~event Cf default under this mortgage. T6e modgagee may collect a"late charge" cwt to e~cceed tao cents (2t) for each dollar (Sl) of each peyment moce than fikeen (15) days ia srrears to cover the e:tra expe~e involved ia handling delinquent payments. 3. That if the total of the paytments made by the mortgagor under (6) of paragFaph 2 preceding shall exceed the amount of payments actually made by t~e mortgagee, for gRawd reats, taxes and assessments and insurance premiums, as the case may be, such e:cess s6a11 be credited by the mortgagee on subsequeat payments to be made by the mortgagor. If, hawever, the moathly peymeats made by the mo~tgagor under (b) oE paragraph 2 pre- ceding ~shall not be sufficient to pey g~ouad rents, taxes and assessmants and insnrance premiums, as the case may be, lvben tbe, ~ame shall become due and poyable, tben the matg,ago~ sball pay to the mortgagee an amawt ~ necessary to make np the deficiency. oa a befae the date ahen paymeat of such grouad rents, ta~ces, asse ments. _ or iasuraace premiums shall be due. If at any time the matg~sga shaU teader to the mostgagee in eccord e rrith the pcovisioes of the note sec~ued hereby; ftill paymeat of the entire imlebtedaess represented thereby, moct- gagee stiall, in computing the smount aE snch indebtedaess, credit to tlee account af the m«tgegor all peymeats mede ander the pcovisioas of (a) af para~aph 2 hereaE whicb the ~octgegee haa not become oblig~ted to pay to the Secretary oE Hatsing aad Urban Developmeat aad any balance remaining in the f~uds accumulated under the pmvisions of (6) af said paragr~ph 2. tf there sLall be a default nader any uf tbe p~avisiona of ~this mOrtgage, `te- sulting in a~ppblic.sale Qf the pcemi~es .cQvered he:eby, e~ -if~ t6e- matBagee acquires the property otbenvise aftec defeult, the mortgagee ghall apply, at tbe "time of the comme~ement af such proceedinga or at the time the prop- edy is othetvvise ecquired, the balaace t6en cemaining in the Eands accumulated under (6) of paragraph 2 preceding as a credit a~,ainst tbe•en~oitnt oE- pciacippl tbea te~in~q~ uapeid under said note and shall`properlyadjuat any payments whicb shall have been made uader (o) d said parag~raph. • 4. T6at he will _pay aU taxes, assessuents, water rates, and dher governmental or municipel clwrges, fines, ~ or impoaitions, for which pravisiao has na been mede bereiabefae, end in deEault thered the mortgagee may pey the same; and that he will ptaoptly deliver tbe afficisl t~eoeipts thecefor to the mort~egee. i,~~ c t~ a~185 ~17~8 C~ ~ ' ~ - _ - _ _ _ _ _ _ _ _ _ . _ . _