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Home My WebLink About1721 ~ • ~ ~ ?.,r~ , ~ ~ 1- ' 4 •i~ said mo~t~eor does heceby fuUy wacnat the titla to s~id l~ad. and every part thereoE. and will defend ths same o~last tM laertul cl~ims cE all p~avas w6omso~v~c. . PROVIDED ALNAYS. aad these preaeots ara executed ~ad deUve~ed upoo the follo~rlag coadltiars. to wit: Tbe mat~Qa A~rees to pay the moct~agee. oc ader, the priacipal sum of ~j,~"1`j,sX 180II8~1D ~fiVwiR~Y. A~Y A~/1 VV~~~~~.~~~~~~~~w~~~~w~~~~~.~~~~~~~~~~~~ Dollacs (s 1~~ 700.00 os evidenced by a note oE eveu date herewlth. aith interest from date ot the c~te of ~;I(i8T . ~Din O~iE-~LLl~' P~r ceatum ( 8~ 96) Per- ~aaum oa the unppid bal~.ice until poid. The said p~iacipal4nd iaterest shall b~ payable ~t the oftlce of J. T. $T~Y~3tT KORI~AGZ COlLPL1iZ~ I~TC. ia Snit• 300 - 100 ~[iraol• ~iil~. Coral aabl~+r. ~'lorida a~ at snch ot~~r place as the holdec of the aote may desigaate in writiag. ia moathly installment~ of 0~! SIINDRiD T'Y~1"1? 4~D 100------ Dollars (t 1 ZO • 73 ~ commencing ea the ficst day of . Qpt~y~r ~ . 19 ~?Q. and on the first day of each atoath theceafter uatil tbe pciacipal aad interest are fully paid. excapt tbat the final paymeat of pcincipal aad interest, if not sooner paid, s1w11 be due and p4yable a~ the ficst day of g~pt~b~r, 2@00. : And shall duly. promptly~ and fully pedaria, discharge. execute. effect, cowplete, and comply .with and abide by each aad every the stipulations, ag~eemeats. conditions. aad covenaats of said pcanissory note aad of this mortgage. thea this mortgage and the estate hereby created shall cease and be null and void. ~ ' Atid the martgagor further covenants as follows: 1. Tbat he will pay the iqdebtedaess. as heceinbefore provided. Pri'vilege is reserved to pay the debt in wbole. or in an amount equal to one a mae moathly paymeats on the priacipel thet ace ne:t due oa the aote. on the first day of any moath ptior to maturity: Provided. however. thet writtea notice af an intention to exercise such privilege is givea at least thicty (30) days prioc to prepaymeat;_ and. pravided further. that in the event the debt is peid in fuU pcior to maturity and at that time it is insnred under the provisioas of tfie National Housing Act. he will pay to the modgagee an adjusted premium charge of one per centum (1%) of the original principal amount thereof, except . that in ao event shall the adjusted premium exceed the aggregate amount of premi~m charges ahich would have beea payable if the mortgage had coatinued to be insuced uatil maturity; such payment to be applied by the moct- gegee upon its obligatioa to the Secretary of Housing and Urban Development on accouat of moctgage insurance. 2. T6at. in ordet-more fully to orotect the security of this matgage, the mortgagor, together witb, and in_addi- tion to. ffie monthly paymeats und-_ ~the terms of the note secuced hereby. on the first day of each month uatil the said note is fully peid. will pay to :.,e moctgagee the follawing sums: (o) M amount sufficieat to provide the holder hereof ~rith fnnds to pay the ne:t mortga¢e insuwnce prea?ium if this instnr . 146at wsdth6 oot~'secwed berib~ irc insurod. or w i~oa3lily cbir~e (i~1•lien o[ a mortgfge insurJace premluw) if t6ey are held bq tbe Secretary of Housing and IIrban Development. os tollo~vs: (I) U and so lonQ as sdd note of even date and this inatrumeat aro Insured or pro reinsured uader the Rrovisious oI ffie National Houaiag Act. aa smounE sntficimt to accumulate iu the handa of the holder one (1) month prior to its due date ffie aonual mortg~ge las~raace premium, ia order to pcovlde snch holder writh funds to pay such premium to t6e Secretary of HouainQ and Urban Developmeat pursuant to the Natlon~l Housiag Act. as amended. and ~ppiicable Regu- ` lations thereuader; or ` It and so long aa said note of eveo date ond this iastrument are beld b~ We Secretarp of Housiag and Urban Develop- ment, a monthly charQe (ia lieu of ~ mortgage insurance pcemium) vhich aball be in an amount equal to one-tarelfth (1/12) o[ oae-half (K) per centum of tbe average'outstaading balaace d~e on the note computed without tating into account dellaquencies or prepaymeats; (b) A sum equal to the ground rcnta. if any, aezt due. plns ffie preminms that ~vill nezt become due and payable on policies of Cue and other hasard inswance coveriag the moriga~ed property, plus_ta:ea aad ossessments ne~ct due on the mort- gaQed propert~ ~all aa estimated by the mortga`ee) less ~U sums already pald ffierefor divlded by t6e number oE months to elapse betore oae maith prior to the date ~vhea auc6 ~roand rents, premiums, tozes, and assessmeats ~vill bec~me de- linquent, such suma to be held by mortgagee ia trust to p~y said Qround rents, premiums, t~es. ~nd special essesaments; and j (c) All paymeats mentioaed ia the t~vo precedinQ subsections of this pan~rap6 ~pd •11 paymenta to be made uader the note ~ securcd hereby shall be addea together ond t6e oggregate amau~t t}?ereof shpU be paid by the mortgagot each month in • t single papmeat to be applled by the mortgagee to the follo~ving items in the order set farth: ! (n premium charges under the contract of inaurance writh tbe Secretary of Housing aad iJrban De~elopment, or monthly ~ chuge (in lieu of mortgaQe insnrpnce premium), aa the case may be; • (in Qrouad rents. tazes, asseasmeats. fire, aqd other.hazard3nsurance psemiums= (IIn Interest ou tbe note secnred heeebp; ~nd (IV) amortizatlon ot the pinciptl bt said oo~e. . . ` Any deficiency in the amounE of such a~gregate. moothly payaurt shall, unless made good by the mortgagor prior to the due date of the neut ~t~ch payvent, coos~itute. t+n eveat af,default uader t6is ~ortgege. The modgagee may collect a"late charge" not to esceed two cents (2t) foi ~each dollar (xl) of each payment more than fifteen (15) days in anears to cover the extra expe~e involved in handling delinquent payments. 3. That if the total of the peyments made by the mortgagor under (bJ of paragraph 2 preceding shall exceed the amount of paymeats actually made by the mortgagee, for ground _rents, taxes and assessments and insurance preminms, as the case may be, snch eYCess shall be credited by the mortgagee on subsequent pay~ents to be mede by the modgagor. If, haqvever, the monthly payments made by tbe matgagor under (6J of paragraph 2 pre- ceding shall not be sufficieat to pey g,~ound rents, taxes and assessmants aad insurance premiums, as the case may be, whep tpe ~me shall become due aad payeble, then the mortgaga shall pay to the mortgagee any amouat necessary to make up the deficiency, oa a befae the date when payment of such ground cents, taxes, assessments, ~ or insuraace premiums shell be due. If at eny time the mortgagor shall tender to the mottg,agee in accordance with the provisions of the note seeured herebq, fnll payment of the eatire indcbtedness represented thereby, the mod- g,agee shall, ia compating the amount of such iadebtedness, credit to the account af the mortgagor ell paymeats - a~ade under the provisivns of (a) of perag~aph 2 heteof which• tbe matgagee has not become obligated to pey to the Secretary of Housing aad Ucban Development and any balaoce remaining in the funds accumnlated uader the provisions of (6J of said paragraph 2. If thece shsll be a default nnder any d the pravisions of this moctg~ge, re- snlting in a pnblic sale of the premises covered hereby, a if.the mortgagee acquires the pioperty otbervvise aftec defeult, the mortg,a~ee rball epply, at the time of t6e coa~mencemehf of such proceedings or at the time the prop- edy is atherwise acquired, the balanc~ then remaining in the fnnds accumuleted aader (6) of paragcaph 2 preceding as a credit ag,ainst the amount of principel then remaiaing unpai~ under said aote and shall properlyadjust say peYments whic~ s6a11 have been made aader (oJ eE said paragtaph. ~ 4. ?hat he will pey all taxes, assessments, water rates, aad ot6er governmental a municipol c6ar~, fines, or impositions, for which pravision has not been made bereiabefore, aad in default thereof the mortgagee may pay tlie same; end that he will promptly deliver the oEEicial ceoeipts the~efor to the mortg,egee. 0R ~<~"'~:f , . ~ ao~185 ~1 l22 ~ ~ - - ~ F..,~,~ - 7 . ~ ;