HomeMy WebLinkAbout1832 ' ~ - ~ ~ ~ ~ .
wld ~a~ctp~a do~s btr~by Etllly wuc~at tlr titl~ to sald 1aad. ~ad ~very part thenaf. ~ad wiU d~fead t1~ sam~
~t th~ l~wtai clai~s d all pa~oa~ w~o~sofv~c. . _ .
PR4V~DF.D AL+~AYS, aed tMN 0~'~?ts act ~cecuR~d ~ d~liwt~d rpos tia Eo11o~?ini c~aadltlva~. t~o wtt:
/y*~o~ot a~es to p~ty tbs rortpre. `~o~ ocde~. tb~ prL~clpal su~ ct 3 TN011~SJ1ND AND
~Q~W ~ .ir ~ ~ ~ ~ ~ w ~ t~..~ ~ ~ ~ ~ ~ ~ ~ w ~ ~ ~ ~ .r w ~ .
Dol3aRS.(= 16+~0~-- ~ as evid+~oced .b~? • aot~ af evea dute I~erewitb with Interest fw~-dataat-tka-------
r~+a v~ ~Tr a~ a~LS-4i13 - ~ ~rr~i~u+ i - ~ _ . -
a: iw.:.~ +s:. ~ ~i'++~ .'~s~.--8
,u~tit p~id. '1'fia s~Sd ~iacip~l aad iat~reat sb~ll be p~yaW~ at tbe cffiae of J. T Stswart Mortgag~ Ca~par~y, Inc.
Snite 300 - 100 ltirsale l~.let Coral t~ables, 1~77.orida.
a at ancli c~t6a~ p1~oe as tl~ holde~ of the aote ~q~y desl~aste ia wrlW~, ia y iastall,~ents of ~itS
HtpiAA~D ?i~Tl?-T~ A~D OJ~/100 - - - - - -Dollars (t 123.04. commeaciag oa
- the first 11~g.aE JtiL~yr - .19'r'0 ,~d a~ tly fira~ d~W d Mcl~ tLece~ter untiltbopdocipal
aad iuttre~t a~e toUY Paiii, eaopept tlwt d~ ti~1 pay~aat, of pxincipal aad. interest,~ tf od ~oon~ec Poid, shall.be due
aad pqyable Qa tbe. dist dsy .Qt Jm~s 2000. - .
Md s~11.da1~r, P~P~b?. a~d fp1~? Ps~ac~. dk~hac~e. execut~. eEf~t. complete. pad cvaply witb and +wbide .
by each ~Rd e~reeX tbe s~tlp~tiats.; a~ree~ents, _ ccsditiops., and Ca?eq~nta of a~tid ptoaiasocy note aod ot tius
mortgage, thea this ~o~age aad the cstate hereby cceated sball ceose u+d be Aa~ll and void. .
Md t6e ~ fi~e~ coaeaimta as follaws: . _ _ , . . .
1. T~at ~e wi11~P~Y tbe indebtadaess,as herainbefoce provided. Pridi~ge is e~served to pey the debt ia wbole.
« ia ~n aooaM eqnsl to one or mae Qa?thly poyments on t6e pdncipol that ue nert dne an ti~e aote. oa tbe fics~t
day af uiq aiaath prior to motudty: Provtlel,. bo~wevec, t6at written notice oE sa intenticn to exercise such privileg~
is givea at least tbirty ~(30} days pda to prepoymeat; aad, pcovided fuet6er, tl~et in the eveat the debt is poid ia
fatl pciec to ~turity and at tbat liAe lt is insnred ~ec the provisioas of the Natioaal Honsing Act, he wiU pay to
tbe moctgpgae an adjnsted premine~ charge of ane per centmr (1%) of the odginal prlncipel amooat thereof. ezcept
that ia no event sbwll t6e adjasted preminm eacceed the aggregate aoonat of premina cbargcs Mhich. would have
beea poyable if tbe madgaga had oontiaaed to be insured oatil asat~ity; snch paymeAt to be app4ed by the mort-
6a6~ npon its obligption to the Secretary of Honsing aad Urbon Developmcnt oa accouat of matg~ge iasurance.
2. Tbat. in adec oore fnlly to pcotect tbe secarity of this oaitg~age. the matgaBor, toget6er with, artd ia addi-
tion ~o, tbe ooathly payaeats under t1~e terns af the note sec~red heraby. oa the first day ef each month until the
said nde is fnlly paid, ~rill p4y to the matgagee the follawing snms: . ~
(a) An ~ amoont saHicient to pwvide We holder hereot with tuods to pq tlse nen wo~t~a~e lnsueance p~eminm it this iastm-
dent ~ad the note secmed 6e~elhr ~re Wsand. or • eoonthiy cluree (in lieu ~ot• a~~a~,e insqrance premtum)' it tbsy ire
held b~ t6e 8ecretu~ af Naasia~ and Ur6~a Developasest, u tollows: ` ' - -
(n It ~~ad so. IoaQ as sald noN a[ e~ea d~te and this lastsa~e~ ~ce iaso~ed ae at~~ttitNwM qs8er tbe pro~i~lons oi fhe
N~tional Hoasif~ Act. an asonnt snfIIcieat to ~ccamnlate ~y the hands .of . the holder one (1) oonti prlq~ to its dne
date the . aanual mort~a~s insorance premium, in order to provide s~cb' holde' ~dlt6. tm~ds _to pq stich premiam to tbe
Secretar~ of Hoasiaa aod U~n Developmeat pnna~nt to t6e N~tiaoal~lbasl6EAct; q~~pd~d. ~nd ~pplic~ble ReQu-
lations the~eunder; ar , _ . , . _
(ln It and so lon~ as saEd note of eveo date aad tl~is insttuakat ve 6eld bt ~s: Secrat~ ot b0astn~ ~sd UsbUn De~eloQ-
ment,_ a monthlr c~ar~e (in lien of ~ sort~a~e iasur~nce prmius) wbicb shall be tn ain t~ount eqQai W ooe-twalfth
(1/12) of one-~ait ('/S) per cent~m of t1?e avense outshadins bal~nce dae oa the note coa~pated wit6ont t~kiu~ into
: acconnt dslinqaeocies or prepay~se~s; ' ~ . - ~
(b) A sum eqnal to the g~omd reats. tE ~n~, ne~ dne, plns ffie premiun~s t6at will ae~ bacome dwr and pay~ble oa pollcies
ot tire aad oWer hasard insnr~nce eo~erin~ tl~e mortsa~ed pcopertp, plus tues aad assesaa~eats aeat dae on tLe mort-
QaQed propert~ (~11 as estimated bq the mort~aaQee) less a11 suma ~Iread~ paid ffieretor ~vided by the aumher of months
; Io sl~pse b~Eoee oae monffi pdor to t6e d~te whea snch ~rouad renb, pceninms. ta:es. and assessaents will becose de-
liaquent, snch sums to be beld b~ matRa~ee in t:ust to p~r-said ~,eound rents. premiams, tues. andspecialassessmeats; -
~ ~ •
~ (e) Ali pa~meats seatloaed in the tw~o precedin~ subscctions o[ tAi~ par~~tipb and aL p~rments to be made under t6e note -
secured herebp shall be added toQet6er ~nd tl~e a~gteQate ~monnt thereot shall be paid b~ tbe mortga~or e~cb mont6 in a
r sin~le parment to be ~pplied b~ We sortsaQee to ffie followia~ Itess in We order set forth:
(n premium charsei ander t6e coy~tract of iasunutce with the $~cretar7 of Housia~ atd thban Developmeat, os moatl~l~
c6ar~e (in liea ot mortg~e ~nsorance premium), ~s t6e case m~y be;
~ramd .ents, t~es, a;sessseata, amd other 1tssRrd tosnr~nce pesiums:
(IO) lnt!leit Oe tlN nOte slCOild heteb7i aad _ .
(I1~ a~aetlsatlaa ot tbe peioripd ot s~id note. ~ '
Any deficiency in tl~e.~mom~t af secb aggregpte eanthly payment shall, imless made good by the moctgagor
pria to the due date ef the t~t snch p4yaieat, Ca~stltpte w event af deEauh uader this mortgage. The mortgagee
may collect a"late clwrge" aot to ~oeed two cents (2~) foc each dollar (;1) of each paymeat more tban fifteen
(l~.days in arceac,s-to caver the adra e:pense involved in hendling delinquent payments.
3. T6at if tbe total ef the payments mede by'the matgagor nnd~ (b) of Pera6taph 2 pceceding shall ezceed
the amoaat of payments actnally made bq the'matgsg~e, foc g~ound rents, ta:es aad assessments and insurance
pr~minms, as ~ee case may ue, sneb ezcess shsil i~ cr~aiiied $~r t~ mott~,e~ee m~a$~eq~ait ~,ay~ts ta ~
made by the aartg~agor. If, however, the monthlY -p~Yme~ts mede by tbe moctgagor nnder (b1 of P~6~P6 2 P~-
cediag shall nd be sufficieat to paY g~raand rents. tsnes aad assessmaats aad insurance preminms, as the case
may be, wbea the same slwll become dne and p~yable, t~ tu~ ~«t~g« :~i ~y to tbe m«c~~ eQy ~o~c
necessary to maloe ap tbe deficiency, on a befae tbe date wLen p~yment oE sucb gRau~d rents, taues, assessments,
or insurance pceauuas ahall be dae:° IE et anq tfine tbe ~atga~x s6alltesiler to t6e moRp?~ee in accacdance ~rith
tha pcovjsiaos af tbe aote secored beceby, fal! poy~eet ~ tbe eatirs indebtedaeas represented thereby, the oort-
gagee sboll. in ceopating the aopmt af wch indebtedn~ss. ce+edit to tbe accom~t d ttit aoct~gor a!1 payneuts
made ander tbe prarisions of (a) af paragcaph 2 benaE wbi~ch the aat~,a~ere has uat becase oblig~?ted to payto
the Secretary cE Hansiag and Uibaa Developaaeat aad aay balance remainlo8 in the fnAd= accumulated uider tLe .
provisions of (bJ af ~aid parag~apb If then ahall be a default under any af the pravisions of this matg,age, n-
snltiag in a pnblic sak of the pcemises covrred hereby, ot if t~e mat6ag~ee ac~luins tLe propedy dhenvise after ,
default, the moc~g,a~ee shall applq, at tbe ti~e of tbe co~~nencemeat af such prooeeding¢ ac at the time the prop-
e~ty is otheevriae acquiced, the balanoe t6en cam~ining id the funds accumalated nader (b1 ~ P~eB~Pb 2 P~~i
as a credit a~st tbe amau~ af prlncipal tbea remaiaing ynpsid a~der said note and shall propetlyadjust anq
P~Y~ whic6 s6oU lwve beea ~de nedet (o) af said P~~P~~
T6at 6e W11i poy ,.ll ta~ces, assesaments, water ates, and uther sovernneatal or muaicip4l cLar~es, tiaes.
or imposttioos, for which prarisiaa has aot been made hereinbeface, aad ia default thereaf t6e moct~nn6~ ~Y P~Y
tbe same; aad tbat he will promptly dellver tl~e offici~l teveipt~ tbe~yefor to the ¦ortgpgee.
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