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sajd ~ortp~a does I~aby tnlip wunnt tb~ titl~ to said t~ud~ and ev~ry put thereof. aad wil! d~tead the s~a~e
•piast tlr 1~~f~t1 cla~s ot ~ll persca: who~sosvee.
PROVIDED ALwAYS. aod tbes~ p~eseats u+ ex~cuted ~d deliversd upoa the follawla~ ca~dltlau, to wtt:
Tbe ~atp~ac a~te~s to par tb~ 4atpsee. a ocder. tbe princlp~l suo ot F~~'1'56~1 THOUSAND ~
1HREg Ht~1DREa AI~ 1~10/L00----------------•---•--------•----••••---------
pcil~es 11~~~Q~QQ as evidenced by • uote ct even date berewltb. witb iatecest feom date at the
cate cf •~~1t ~tld 011a-h! L~ pec ceatum ( 8~ Pe~ oaaum oa the uapoid b~lance
w~t~t po~d, s~id pdaclp~l ~ed inte~eat sL~ll be p~yable at tbe office af J. T. STEWART MORI~Q~AQE
aQKPA1~1Y, INC., a~orporatioa undar tha taW~ of tt~a Stata of Ftorida.
ac at snch athec pl~ce os tfie holder of the aote may desig~aete in writlAg. In moathly inst~llments of Q~~
Hundr~d Niaa aod 97/100-------------oola~s (s t09.97 ~~~~s
the f~rst day af Oatober . 19 70 . and oa tbe first day d eacb moatb thereafter untll the prlACipal
and interes~ are fnlly paid. e:cept tbat tbe fLwl paymeat of principal aad iaterest, if iwt sooaer paid, sball be due
and ~yab~e a+ t6e ftrst dsy at 3aptember, 2000 :
And shall dnly, pro~aaptly, and tally perEorm. dlscharge, execute, effect, complete, and comply aith and ebide
by each aad eveiy tbe atipulatioas, agteemeats, conditioas. aad covenaats oE said promissory aote and of this
mortgage. ~thea this mortgage and the estate hereby creeted shall cease and be null and void.
Aad tbe mat~,agor futtber coveaants as follovqs:
1. 'fhstt he will pay the iadebtedaess, as hereinbefore provided. PriVilege is reserved to pay the debt in whole.
or in aa emount equal to one a mae moathly peyments oa the priacipal that are nest due on the aote, on the first ;
day of any maath prior to maturity: Provided. however, tlwtwritten notice of an iatentioo to exercise such ~ivilege ~
is given at least thirty (30) days prior to pcepaymeat; aad, pcovided further, that ia the event tbe debt is peid in
full prior to matudty and at that time it is iasured uader the provisions of the National Ha~sing Act. he will pay to
the mo~tgagee an adjasted pr~mium charge of~oae per ceatum (1%) of tbe orig~nal principel amount thereof, except
that ia no eveat shall the adjusted pnmium ezceed the aggcegate amount of pcemium charges which would have
beea payable if the moetgage had continned to be insured until msturity; such paymeet to be applied by tbe moct-
gagee upc~a its obligption to the Secretarq of Housiag and Urbaa Development oa acconnt of mat~age insurance. _
2. That, in order more fully to protect the secnrity of this mortg,ege, the mortgagor. together ~vith, and in addi-
tion to. the ma~chiy paymeacs under tbe terms of the aae secured hereby, oa the first day of each month until the
said nde is fntlq paid, will pay to the moctgagee the follooving snme:
(u) An amoant snUicieat to pwvide t6e 6older 6ereot wit6 tunds to pq tl~e ne:t owrt~ge insurance pcemium it tLls insW-
~mmt andthe nate secnred hereb7 ~re L?sured. ot • moathir charge (in llen of a mortga~e insurance premium) if they are
beld b~r tt~e Secretarp of Hoasia~ aad Urban Development, as follows:
(q U aad so loa~ ~s s~id no~e of even date and thls iastrument are insured or are rein~ured unde* the provisions ot the '
N~Honal Honsin~ Act. an amount so[ficient to accumnl~te.in tLe hands of We bolder one (1) month prior to Its due
date the ~nnud mort~~~e insmaace pceminm, in order to ptovide such holder ~rith funds to p~~ sucb preoium to the
Secretar~ oi HonslnQ ~nd Urbrn Development parwpnt to the Nationai Housiaa Act, as ae?eaded, ond applicable Regu-
Utlons thereunder, or
If and so IoaQ as said note ot. even date ~nd this lasttumeat are held br tLe Secretary of Housing and Urbaa Develop-
ment, • monthl~ char~e (in lien of a mort~ase iawr~nce preniwa) which ahall be in an amouot eqwl to one-t~velfth
(1/12) of onrlult (K) per centnm of tbe~a~era~e oatstabdiag bal4ace due oa the note comp~ted wit6outtatiag into
accoseat daliaqaencies or prep#ymaota;
(b) A snm eqnal to the a,n,wmd reats, ii aar. nert due, plus the premiums that wlll next become duc aad payable oa policies
~ ot fire and other hazard insuraoce covering the moetgaQed propeity, plus t~:es aod assessmenta ne~ct due on ffie mort-
gaged pwpeet~ (all ss estlmated by tl~e mortga~e) leas all sums ~iready paid there[or divided bp tbe number o[ mont6s
to elapse betoee one month pria~ to the date ~v6ea suc6 arouad rents, premiums, tazes, and asaessments will become de-
linqneni. soch snms to be held b~ mortgagee ia trust to p~y said ground rents, prcmiums, t~es, aad special assessments;
~ ond
~ (e) Ail paymenta mentioned in t6e t~vo preceding subsectioos ot this pangraph and all pay.ments to be made under the note
secured herebp ahall be added toeettier aod the aggFegate amwnt t6ereof shall be paid by the mottgagor eac6 month ia a
~ single papmeat to be applied b7/ t6e mort~agee fo ffie follo~ring items ia the order set torth: .
(n premium cbuQea uader the contract oE L~surance witl~ the 3ecretory of Housing aad Urban Development, or monthly
- r6arge (in lleu of arortgage insurance premium), as the case may be;
(In Qro~nd repts, t~es. assessments. fue, and other hazird insuraace premiuma;
(I~ iateeest on the note secured 6e~ebp; and
(IV) amortlsatloa ot the principd o[ said note. -
Aay deficiency in the amoant af such aggregate monthly payment shall, nnless made good by the mortgagor
prior to the due date of tbe aext snch peyment, constitute an event of default uader this moctgage. The mortgagee
may collect .a ~"late charge" not to e~ccxed two cepts (2~) foc each dolku (Sl) of each payment mae tban fifteea
(lSj days in _arcears to caver t1~e extr4 ezPense involved ia ha,tldling deliaqueat.payments.
3. That if the total af the poyr~ents-mode -by the mort~sgor. under (b) of parag~aph 2 preceding shall exceed
the amouat uf peymeats actually made by tLe ooctgegee, fa ~ound~ rents,~ te:oe and assessments and iasuraace
premiums, es the case may be, sneh escess shall be credited by the matg,egee on subsequent payments to be
mede by the mo~tgagor. If, hoaever, the monthly peyments mede by the matgagor undec (6J of paregreph 2 pre-
ceding shall aot be snfficient to pey g~ound reats, ta~ces aad assessm~ats aad insurance premiums, as the case
may be, whea~e sa~e sLall become dae aad poyable, thea the awctgagor ahell pey to the mortgagee any amount
necessary to aalc,e np tLe deficieacy, on a befae tbe date aLen paycnent of suc6 ground reats, taxes, asaessments,
or insurance premiums shall be due. lf at aay tise the moctgegor shall tender fo tbe mortg,pge~ in accacdance with
tha provisioas af the aote secured heceby, full paymeat oE the entice indebtedness repcesented thereby, tbe mort-
gagee shall, ia compntiag the amos~nt af such indebtedness. credit to tbe account of the matgagor ell p4ymente
made nnder the pravisians of (aJ of peragRaph 2 bereof ahicb the modgagee lws not beceme obligated to pay to
the Secretary of Ho~osiag and Ueban Development and aay belonce remaining in the funds accumulated under the
provisions of (6) af said pacagraph 2. 1f then s6a11 be a defanlt nnder any of t6e provisioas of this mortgpge. re-
suUing ia a prblic•sale of the ~xemises covered hereby, or ~f .tbe aatgagoe ecqnires the propedy otbecwise after
default, the matga~ee shsll apply, at the tia~e of tbe commeacement of such proceeding,s a at the time the prop-
erty is othecwue acqn~red.tbe bolaace tben re~aining in the fuads accumulated under (6J of pereg,raph 2 preceding
as a c.redit a~t tlrc amottat of pt~Inclpal tben ttmoining m~paid uader said note and shall properlyadjust any
paymeats w6ich sball b~ve beea mede wdec(al oE said paragcaph. ~
4. That 6e will pay all taxes, sssessments, water rates, and other governmental or municipel cha~ges, fines.
or impositioas, fa whicb pcovisian has aot been awde hereinbefae, and in Siefault thered the matg~gee may p~y
tbe sase; aad tlwt be wiU promptly dellver tbe dficiol teoelpts tbeeefor to tbe mortgpgee.
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