HomeMy WebLinkAbout1746 'i~{i~ ~ - 1 , . i . ? 4 . " ? . t
' `i : ! '1~ i : . : . . . e = ti . ~ t T
~t..~x...., ~ _ j~ r4 ; .
saW watp~ does bseeby Eu11y ~va~r~at the titl~ to sajd laad. aad every put tbeceoE. and wtll deiead tb~ sa~ne
o~afast Lhs Lvf41 cl~iws at al1'I~s w6owsvewc. .
PRQVIPF•D ALwAYS. aad t!~ pc~a.-ats ut execuRed aad d~Uveced npoa th~ tollowia~ coaditloas. to wlt:
?M ~~a o~,~ees to pay tb~ wort~~. 4~ ocdec. t!w p~tactpal su~ oEp~~'~,,~„x_'j~ipII~~
~ ~ ~/1Y~~~~~~~~r~~~~~w~~~~~.~~~~~~~~~w~f~~.ww~w~~~~w~~
Dol~rs 7Qp as evidenced by • ~ate- d evea date be~ewltb~ wit6 iMe~st Eco~ d~te at the
rate eE SItt~T ~D 0~'i-1LL!' P~ ceut~. Per aonw~ aa tlie aap~Id baLnce
witil p~id,. '~'6e ssid Qtiaclpoi ud Iatecest s~6a11 be p~yable ~t tlts o~ice of J. T. S~' ~~'Tli~4S
CO~A~ ~ IxC. ia ~~i.t• 300 - 100 ltir~?ol~ . l~il~ ~ C~ral W?til~s, ~lorid~
a~ at sucb a~tber pl~ce as tbe holdes of ihe aote nwy desi~oste ia wcitinR, in woathly Lostalla~nts af
Olis 1N~11ASD '1'XS~iT't ytB ?3/t oo----- uou.rs (s t Zo. ~3 commeac;Ag on
the first dag of .Oet~~r , 19 yQ . aad oa tbe fltst day cf c~c ~nooth t6ecieafter mtil tbe pciacipol.
aad intecest pts fqlly p~d, except that the fiaaY pay~oent of ~pcin~ipal sad iaterea~t, if aot sooner paid, shall be due
and p~yable cn tbe ficst day of 8•p t~a11~Z rZQAO. ~ ~ -
Aal sball duly. Praa~tlY. aad fulfy pedam. ~is~her~je,,4:ecute. effect, complete. and comply with and abide ~ .
by e4cb and eve~r tLc stipul~tloas. a~reements. coaditioas. w~d caveqaats of said pcomissory aote and of this
mortgage. the~ this matga~e aad the eatate hereby created shall cease aad be aull and void.
And tLe matg,4gar fuither covenants as follaws:
1. Thot he wlll poy the iadebtedaess. as 6ereinbefoce pcovided. Ptivilege is re~erved to pay t6e debt in whole.
oc in an ~mouat aqwl to oae ct mae monthly payments on thc principal that are next due an the note, oa the first
day of aay moath prior to matudty: Provided, however. tlwt writtes notice af eur inteatiaa to a:ercise s~ch privilege
is g~ven at least thirty (30) days prio~ to prepayment; aad, pro~vided f~uther, tbat in the eveAt the debt is paid in
full prioc to oatucity and at that time it is insnrcd ander the provisioas of the Natioaal Housing Act, he ~vill pay to
tha moetgpg~ee su adjusted premium ch~rge of one per ceatnm (1%) of the origiaal priacipal amount thereof. except
that ia no sveat shali the ad~usted premium eiceed tbe aggregate amount of premiom charges which rvould have
been payable if the mat~age had c~tinned to be iasurtd uatil matnrity; such payment to be applied by the moct-
gagee upon its oblig~ation to the Secretary of Housing aad Uzban De.welopment oa account of mortgrage insucence.
2. That. ia ordet more fully to protect ttee secnrity of thls matg~age, the mortgagoc, together with, and in addi-
tion to, the moot6ly paymeats nnder tLe terms of the nde secured hereby. oa the first day of eacb moath uatil the
said note is fullq paid; will p~y to the matgagee the follawing sams:
(a) An~amount snHicieat to {uovide the holder hereoE with funds to p~~ the nezt mortQaee L?snrance premium i[ this insW-
ap}t~ e~p~ 7 a~, ~ Ri ~.~t~ ~~r~e .~D U 4~~! ~q~e #,nc±u~ce.P#i u it Wg~r,~re
6~e1$ ~e 5e~e~e ' N~ ~A t~lle'~ie~opsenf, as fotfows: ' ~ A~~' ! : ~ ~c
i! ; - ~ ~ ~ ~ -
(n It and so loo~ as sald note of even d~te ~nd tl~is instrument are insared or are reiesuied ~mdrr the proHsions o[ the
N~tion~l Housio~ Act. ~a ~moant sufiicieat to accamdate la the 6aads ot t6e 6older oue (1) oontL prior to its ~e
date the aanuai mort~a~e insuraac~ peesium, in oeder to peovide suc6 holdes ~alth [uads to p~r sncb pemiuo to tbe
Secreta~ ot Hoasin` and Urb~n Developmeat purwant to t6e N~tional Honsia~ Act. ~s amended. and ~ppilc~bie Re~n. -
lrtims fhere~nder; or .
If aad so long as said note ot even dste aad this L?stmment ~re held by tbe 3ecretar~ of Housing and Urb~n Develop-
ment, a monUilr char~e Heu ot a most~aQe insurince pre~Ir1) which shdl be in ~n amount equal to one-twelfth
(1/12) ot oae-h~lf (y~ per ceadmn of tbe a~reraQe ootet~adln~ bal~ace.due on the ~wte computed ~vit6ont takiag iato
accouat delioquencies or pcepsYn?p~si,. .
(bJ A sum equ~l to the gromd rents. if ~any, de=t dne, ~s the premiuss that will a~t become due and p~yable on policies
` of fire and other basard ~utasee ,eo~qia`. We moct~~~,d property. plns t~e~c and usessaents nezt due on ffie mort-
~ ga~ed propert7 (all as ~eatiwated b~. tbs moit~a~) Iesi all aums alread~r paid ffieretot divided b~ the aamber of moaths
to elapse beEore oae mont4 p~ioi te t~.~t~ ~h~?'spch.~rouad reats, pemioaa, tues, aad ~ssessments wrill become de-
linquent. snc6 snms to be ~e1Q' Es~eat~e h} tiiistR to p~j said gromd rents. petmiues, t~es, and specLl assesaments;
and .
(c) All pa~eats oentioned je tbt two pr~ce~ aabs~ctiQas ot this.pu~taph ~od ~Il p~~meats to be made uadee t6e note
secared 6~e~ebp sball be added ta~e1#er ~ad t~t ~eglte ~sart ~tY~nRq~, shall be paid by the mort~agor eacb montb ia a
sinale paymeet to be applied br tbe swt~a~ee to t6e followina itess in We order set torth:
(n preai~ elur~es oader tLe em~sct oE fnsYrance wltA tLe Seenw~r ot Housiu~ and Orbao Derelopmeat, or moat6l~
cLae~e (in Iien o[ sort~e insnrance pre~e~ ~s the case map 6e;
(ln Qrouid rents, ta:~s, assess~ents, tisr, a~d other hu~rd ins~u~ace premiums;
i (IIn ~nte~st a~ t~e note sea~erd heeeb~; ~nd
(M ~ao~tisatioa aE t6e prjueipal oE said,aoto..
( Any deEiciency ia the aaoaat aE snc6 aggre~qte ~ mopthly 'peqmeat s1w1I;' un2ess ~made good b~r the matgagoc
prior to tbe dne date af the ae~ such prya~eat, coesti~ds'~ e~red a~~de~~iih '~'t this moitgAg~: 'Phe moctgagee
nay coilect a"lote char~e" not to ri+~d~i& cif~ ~~fbt ~icfl'doAd'r `bf~ aac(i ~iaybe~it iae than fifteen
(15) d~ys iQ w~ra to carer t6e estra ~tpe~s@; ibvOlve~d in h~114~ ekli~ ~r~led~t•
3. That "if tbe tdal aE tLe poyments ~de b~ tbe moctgpgoc nnder (61 of PeragaPh 2 preceding shall e:ceed
the aoorat af p4y~ents actually isade by t6e mactgegee, foc gFoand rents, t~es a~1 assesssents aad insucance
premiums, as the case moy be, sach ezcess abwll be ceedited by the matga~ee oa subseqaeet peymeats to be
~ ewde by t~e matgugor. If, hawev+er, the moatblli PaYmeats o~ede by the matgagor undec (b) of poragreph 2 pre-
ceding sball nat be soEflcieat to per g~onnd t~es and assessmants and iasurance pre~iums, as the case
~ maq be, ~vhea tLe,~ame ,~pa~
beca~r dne aad payable, then tLe raatgpgoc shall pey to tbe moitg,agee any amount
~ necessary to ~Ioe ap tt~e deficieacy, oa or before tLe date wben paysent of anc6 grousd re~ts, taus, assessments,
~ or iasuronce p~e~im~s sLaU be dne: l[ et any time tbe moctpgar aliall tetder to tbe aoctg,agee ia eccocdance with ~
the provisioes af t6t nate ~ecored herebS?, Ea11 P4Y~eaR aE the e~rtfre indebtedaes~ cepceseatal thcrebp, the oort-
Baget shall, ia ca~tio6 tbet aao~at af seci indebtedness. cr~dit to the aocoant af tbf ~at~a6or all p~yeeMs -
made aade~. tiie , pcvvisia~s af (o) oE pora~aph 2 Lereaf ~bich tbe ~ortgra~ trs aot bece~e oblig,ated to paq to
tbe Secretory aE Honsiag and Ucban Dere~eat ~ad any bplaoce remainiag In the fnnds aocumulated under the
peo~visioes cf (6) af said Ewrag~ap7i 2. If there slwll be a defaalt w~der aaT af tLe pro~t~iW~qa,d ~ys wat~B~e..~-
saltiag in • pablic sak of the premi~es caweerd he~ebq, a if tbe aatgagpe aoqiires the property otlierv~ise after
defsult, ttie soefg,~'t s~ll L~p~j.'Lf t6E~~i~e' af'.t8e "obinie~c~eat of snch prooeediag~s er at t6e time t6e P~aP-
erty is otLtrwise acqoirad, the b~lanoe then remaining in tbe fmds accumnlsted oader (61 of PeraBtaPb Z Pre~.~edin~
as a ccedtt ~t the~amouat of p~iaci t tlrcn remaiaing napeid ander said note and s6~U propedyadjust aay
Pi~aaRs wliicb s6i~ fr~i~' bee~i ~le ~`(bj bf sai~ Mra~• ~
4. T6d Le will poy tU. taxes, assei~ents, water.rates, and dber-~recn~e~tal cr ~nniciP+l ch~es. fines. .
or iapasitioos, for wbicb prwisien has not been made hereiabefore, and ia deEauh thered the mat~,n6~ ~Y PoY
the :ase; aod t6ot be will pco~ptly deliver tba offi~chl re~oeipts tbeeeEor to the ~aortgp
~'c~....t.
. ~
_ . ~ ~ ~ . ~0~~~5 ~~.`~47 . ~ _
~
~ ~ ~ - - _ _
~ k . ~ ~T : :
~