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Home My WebLink About2743 , ~ , i , . . T ~ . ~ said eatp~or does b~~by tally wuc~at tbs titl~ to sai~ l~ad. and w~ry? p~K th~~eat. sad wUl dttead the saa» apiast tl~ lawtul claiss oi aU p~soa~ ~o~so~wc. - PROVIDED ALMAYS. and tlw~se pceaeats are execated and dellvered upop the follawta~ condltloas. to wit: The eatp~oc ~~rees to pay tb~ matppe. a ade~. the pciaclpal sum of FO[~tTE61~t 1~i0USAZiD THRFT HUNDRED~AND NO/L00----------•-------------------•-•--•--•-----•-----•--- Do1Lrs 14 ~,00.00 +?s evidenced by i note vE even d~te herewitb. ~ith iateceat froa d~te at tl~e nte af ai$dt aDd One-hilf Pet ( 8~ per aaaue~ ca the uapaid bslaace until p~Id. ~ Tbe sald pciaclpol and lnterest sh~ll be p~yable at the oKlce. cf J• T. S~TEi~1ART MOR1~A0~ 00~lpp~lY, INC., a aorporation under ths La~a of tha State of Fl~rida. o~ at snch othec gl~ce as the holdec of the note hwy desig~nete in ~vritiag, ln montl?ly iastallments of ORe Huiadred Nias and 97/t00------------ (s 109.97 ~~~~+s ~ the first day of pCtObet' . 14 70, and oa tbe first day of c~cb month thereafter untiltl~epcL~cipal aad Interest ace fnily pe1d. enept tlwt the final poyment of principal ~ad Laterest, if aot sooner peid. shall be due and paryable cn tbe ficst d~y d$eptembas'~ 2000 : And shall dnly; pcamptly, aad fulty peeforen. discbarge, execute, effect. complete, and comply witb and abide by each aad every the st[pulatioas. agteemeats, conditioas, at~d covenants of s~id pcomissory note and of tbis mo~tgrage, then this mottg~ge aad the estate hereby created shall cease aad be nnll aad void. . ~ pnd the mat~aga huthe: covenaats as follows: , 1. T6at he will pay the indebtedaess. as 6ereiabefore ptovided. Privilege is reserved to pey the debt ia ahole, oc ~ia en amouat equal to one a moce monthly paymeats on the principal that are aext due oa the aote. oa the first day of any moath prlor to matucity: Provided, however, that writtea aotice of aa inteatioa to e:eccise such privilege ` is glven at least thirty (30) days prioc to prepaymeat; aed. provided further, that in the event the debt is paid in i fuU pcior to matudty and at t6at time it is iasnred nnder t6e provisioas of the National Housing Act. he will puy to the moctgpgee an adjusted premium charge of oae per ceatum (19G) of the originel principel emouat thereof. eucept that ia no event shell -the adjuated. pceminm exceed the aggcegate amouat of premium charges which ~vould have been payable if the matgage had coatinued to be iasuced uatil ioatority; such peyment to be applied by the mart- gagee upon its obUg,stiaa to the Secretary of Housing and Urben Developmeat a~ account of mortg~age insurance. 2. Tlwt, in order more fully to pcotect the security of t6is mort~age, the mortgagor, together with. and ia addi- tioa to. the monthly payments undec the terms of the note secured bereby, on the first day of each month until the said note is fnlly paid, aill pay to the mortgagee the folloaria6 sums: (oJ Aa amouat suificieat to provide the holder hereot with funds to.p~~ the ne:t mortQaQe insurance premiua? i[ this insW- ment and the note secnred hereby are L?snrad. or a monthly chuge (ia lieu ot a moetgaQe lnsurance premium) it they are 6eld by the Secretar~ of Hoasin~ and Urban Development. as tollowrs: - (I) If aad so lon~ as said aote ot even date aad this insttumeat are insured o* are relueured uader the pravisioas of t6e Netioaai Honsia~ Act, an adonnt sutUcia~t to accmm~l~te ln t6e hands ot the dolder oae (1) month prior to its due date the onnuai mactQaQe insurrece premium, ia ordes to piovide such holder with fnnds to pay sucb premium to the Secretary of Housln~ and Urb~a Developanent p~usuaat to tLe Idational Houaio~ Act. ~s ameaded, ~nd appllcable Re~- lations tberetwder, or (I~ If aad so lonQ as said ade af zven date ad this Instrnoent ue hetd br the Secretacp of Housiag ~ad Urbau Develop- ment, a monthlr charge (ie Ilen of a mort~a~e insacaace preminm) ahich shdl be in ~n amount equal to one-twelfth (1/12) of-eno-hal[ (;4) per centnm ot tiN avera~e outstandin~ balance due on We note computed ~vithout taking into account delinqueacies or prep~rmads; (b) A sum equal to the ground rents, if an~, ne~ dat. plns the premiums that aill ne~ become due and poyable on policies of fire and other huard insurance cov~tis~ t6e mort~a~ed property. plus taxes and •saessmeats ae~ct dne on the mort- ; gaeed property (oll os estimated by the so~a~ee) less all sums olready paid therefor divided by the awaber of montha ~ to elapse before oae month pdor to the date when such grouad rents, premiums, ta:ea, aad ~ssessments ~riil become de- liaquent. such sums to be held by mortap~ee ia t~nst to poy said a,round eeats, premiums, t~es, ~nd special assessmenta; and (c) All payments meatioaed ia the two ptecedinQ aubsections ot this para~aph and ail p~ymeAts to be made uader the note secured hereby shali be added together and tbe ag~reQate amouat thereof ahall be p4id by the mort;agor eoch moath in o single papmeat to be applied by ffie mort~~~e6to the following items in We order set torW: (n premium charQes mder We contract ot insursace ~vith the Serretary ot Housing and Urban Developmeat, or monthly charge (ia lieu of mortQaQe insuraace premium). as the case may be; (In aromd rcnts, ta:es, asussments, fire, ond otLer hazard iacurance preminms; (IIn interest on the aote secured bereb~; and (I{~ omortisation ot tbe princip~l of said note. - ~ Any deficiency in the_ amount of such aggregete monthly peyment shall, unless .made good by the matgagor prior to the due date of the ne:t such peymeat, coastitute an event of default under this mortgege. The mortgagee may collect a"late charge" aot toexceed two «~MMs ~{?.t~j.fa e~ch dol~ar (Sl) of each peyment coore thaa fikeea {15) days in arrears to covec tlre e~dra e~cpenae involved~in handling delinqueat, payaenb. 3. T6at if the totel ut t6e payments mad~' tty t1~e~ mocCg~gat t~Ader (6~1 oE ~Bcaph 2 preceding shall exceed the amount d peymeats actoally aade by t~e ~artgs~gee, fac p~ound cents~ tane~ and assessments and insurance premiums, as the case may be, suc6 ezcess shall be credited by the mortg,sgee on subsequeat payments to be roade by the matgegor. If, 6oarever, the monthly paymeats made by the mactgagor under (b) of peragraph 2 pre- - ceding shall not be sufficient to pay g~ouad rents. taxes and assessm~~nts and iasurance premiams, as..t6e case , may be, whee Ehe same shall become dne and peysble, then t6e maetgagor shall pay to the mortgagee any amouat necessary to ~alce up tbe defuiencq, oa a beface t6e date w6ea paqmeat d snch gRaud reats, taxes, assessments. oc inaurano~ peemi~es shall be dae. 1f at any tia~e the matgagoc ~hall tender to t6e aiortg,s~ee in accocdance with tbe ~ovisioos af the note aecuced hereby, full pQymeat of the entire indebtedness repse~ented theceby, the moct- gagee shall, ia computing the amount af such indebtedness, credit to t~ account af the matgagor all p4ymeats made nnder the Qrovisions of (a) af paragraph 2 hereof wbich the m«tgagee has not becane oblig~ted to p~y to the Seccetary d Hatsing and Ucban Dtvelopment aad a~ry balence remaiaing in the fuads accumala7ed uuder the provisions of (6) of said paragraph 2. If thece sball be a default n~er aay aE the provisions oE Wis~mortg~ge, re- sultiag in a pub3io sile of the preoiaea cavered hereby. a~if tbe oatga~ee scquices tbe propedy dbecwise after default. the matsagee shall aPply. at the time of the commenceu~ent of such pcoceedings er at the time the pcop- erty is otbe~wise acquiced,tbe bolance tl~en reawiaing in t6e fnnds accuroutated under (b) of paragcaph 2 prccedinL as p credlt agpinst ths omount of pcL~eipal th~n. remouun~ uepaid rnder said note ead shall pcoperlyadjust aoy PeYmeats ~vhich sha116ave been iaade under (a) af said para~ph. ~1. T6at he will pay oll taxes, assessments, water ntes, oad etber governmental or municipel charges, fines, or impositloas, for whub pravisicn haa aot b~ea ~wde beretnbefae, oad in def~ult thered the a~ortg,agee may pay the same; ond tlwt be wlll pranptly deliver tbe ofEicial tooeipts t4eiefor to the mortgpgee. a~1~~~~l6 ~ - ~ _ - ~.u ~ -aFr~~;;_~=~. ~ • r~ .