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Home My WebLink About0565 . I ~ ; T ~ ti ~ ~ + . ~ i ~,~1 ~.~r~ _ + ~ ~ ~ ~ s~id mort~~or does heceby Eully w~cc~nt tlw title to said l~ad. and every part thereot. and will deEeud the same ; a~ainst the IA~rlul claims of ~Il peaoas whomsoever. ~ ~ t ~ r PROYIDED ALWAYS. and tbeae presenb are executed aad delivered upoa the Eollcwing cooditicns, to wit: f The mort~ago~ a~ees to poy the mottgagee~ a~ ocde~. tbe pciacip~l sum Gf XI~iX TSOUSJ?XH ~ 8IZ1iiTll~RiDAMDl10/100~-------------------- ~ nol~~ (s t 9.600.00 os evidenced by a note oE even date hecewitb. ~rith interest fcom dpte at the rate ot~IQH'~' A~TD O~tE-~HAL~' pe~ centum ( 8} per anawa oa the unpald bolance until p~id. The s~uid p:iacip4l aad interest shall be p4yable at the otfice oE J.T• STZYAitT MOATalQZ COI~PA~Y, I~1C. ia 8uit• 344-100 1lir~ol• ~[il~. O~ral aabl~~ ~~'l~rida oc at sucb other place es the holder oE tha aote mey desig~wte in writiag. ia mmthly instolloents oE O~ $O~D ~'21~'TY .IJiD 7Z/100 - - - Dollecs (S 1 +f O.'r4 commencing on the first doy cf Jt~l7 , 19'~'p ~ aad on the first day oE eacb month tl~ereoEter uatiltheprincipal and Iaterest ~ce fully paid, except that the fiaal payment of principal aAd iaterest, if not soa~er peid. shall be due and payable oa the flrat day of .Tti~l~ ~ 2000. ; - An8 shall duly. proaptly. and fully petform, discharge. execute, effect. complete, and comply ~rith a~d sbide by eac6 aad every tbe stipulations. agreemeats, coaditioas, oud coveaaats of said promissory note aad of thia moctgege. thea this,moetg~~e aad the est~te,hereby c,teated shqll cease aad be au~ and void. . And the matg,agoi ~wther covenants as folloars: ' 1. That he will pay the indebtedaess, as hereinbefore pcovided. I;riirilege is reserved to pay the debt in vvhole, or in an emount equal to ona or moce monthly peymeats on the principel that are next due on the aote. on the first day of aay moath prior to maturity: Provided. however, that w~itten notice of an inte~tion to exercise sucfi.privilege is given at least thidy (30) deys prior to prepeyment; and. provided further, that in the event the debt is paid in full prior to maturity and et that time it is insured under the provisions of the Natioael Housing Act. he will pey to the modgagee an adjusted premium charge of one per centum (1%) of the original ~priacipel amount thereof. except that in no eveat shell the adjuated premium exceed the aggregate amount of premium cherges which aould have beea payable iE the mortgege had coatiaued to be iosured until ~aaturity; suc6 payment to be applied by the moct- gagee upoa its oblig,stioa to the Secretary of Housiag and Urban Development on account of modgage insucaace. 2. Tbat, in ocder moce fully to protect the security of this ooctgage, the modgagor. together with, and in. addi- tion to, the mo~thly payments under the terms of the aote secu~ed hereby. on the first day of each month until the said note is fully paid, will pay to the mortgagee the folloqving sums; ' (a) An amount sufficient to provide the holder hereot witb funds to pay the ne:t mortgage insuraacc premium iE thia instnt- meat and We aote secured hereby sre iosured. ot • moathiy charQe (in lieu ot a mortgage insurance premium) if they arc held bp the Secret~ry of HoaslnQ and Urb~a Developmeut, [ollo~rs: (I) U and so lon~ •s s~id aote of t~ee date and this insWment are insnred or ~re reinsurcd under the provisions ot the Nationaf Housing Act, rn amount sutCcient to accumul~te te the hands of the holder one (1) month prior to its due date the ~naual mortgage insurance premium. in order to pw~ide wch holder aith tunds to p~y auch premium to the Sccretary ot Housing ~nd Urban Development pwsuunt to the Natloaal Houaiag Act, as ~mended. aad applicable Regu- lations thereuader; or . (II) It aad so loag as aaid note ot evea d~te and tkis iasttument are held br the Secret~ry of Housing and Urban Develop- ment, • mogthly charge (in lieu of a mortgage iasunace premium) ~vhich ahall be ia an amount equal to one-twN[th (1!12) of onrhal[ (34) per centum of tbe aver~ge ouist~nding balance due oa the aote campated ~rithout taking into account deliaquencies or prlpayments; • . - (bJ A sum equal to the _grouad reats, it aay. ne:t due, plus the premiums that wrill nezt become due rnd p~yable oa policies of fire and other hAZard iaaurance coverin~ the mortg~ged property, plus taxes and assessments ne:t due on the mort- i gaged property (all as estimated by the mortgagee) less all sums •lready paid theretor dlvided by the number of montbs to elapse be[ore oae moath prior to We dote wfien such ~rrouad rents, premiuma, ta:es, aed assessments will become de- ~ linquent, such snma to be held by mort~agee in trust to pay said ~ronnd rents, premiums, to:es, and specul assessmmts; ~ aed - ~ i (cJ All payments mentioaed in the twro preceding subsections of this pangraph and all paymeats to be made under the note ; secured hereby shall be added toQether and the aggreQ~te amount thereo( shali be paid by the mort~agor each month in a ` single paymcat to be ~pplied by the aiort`a ee~o the tollow~ ttems itn+ the ordejr set torth: i 1 (n preauum charQes uader the contract o~ ~insurance ~i~tfi~ Secrctary o~~ousin~ and Urban Development, or monthly f ~ c6arge (in lien ot mortga~e insnrance premiua)r as the c~~e m~r be; ' n i (II) Qround rents, ta:es. •ssessments. fire,.~ad oWe~ Lazard iesurance prcmi~os; (III) interest on We note secured her~br: and (I~ amortis~tioa of the princip~l ot s~iA eote. ' ~ Aoy deficieacy in the amount af such Bggregate moathly paqmer~t si~pll~ unkss~ made good by the matgagor prior to the due date of the next snch p~yment, constitute an event d default under this mortgage. The modgagee t may collect a"late charge" not to exceed two cents (2t) Eor each dollar (S1) of esch payme~ awre than fifteen ; (15) deys in arrears to cover the extra expense involved in handling delinquent payments. i S 3. That if the total oE the payments made by the mortgegor under (6) of paragaraph 2 preceding shall exceed the amount of payments actually made by the matgagee, fbr ground tents, taxes and assessments end insurance premiums, as the case may be, such excess shall be ccedited by the mortgegee oa subsequent payments to be ~ made by the mortgagor. If, however. the monthly payments made by the mortgagor under (6J of paragraph_ 2 pre- ceding shell not be sufficient to pay ground rents, taxes and assessmants end insucance premiums, as the case may be, when tbe same shall become d~e aad payable, then t6e moctgagoc shall pay to the mortgagee eny amount ~ necessary to melce up the deficiency, on or beEoce tbe date whea payment of such ground rents. taxes, assessments. # or insurance premiums sheil be due. If at any time the mortgagor shalltender to the nartgagee in accorder~ce witl~ the Provisions of the note secured heceby. foll payment of the entire indebtedness represented thereby. the roort- gagee shall, in comQuting the amount of auch indebtedness, cKedit to the pccount d the mortgagor ali peyments rn~de under the provisions oE (aJ af porag~raph 2 heced which tbe mortgagee haa not becoa~e obligated to ppyto the Secretary of Housing and Urban Developmeat and aay balance remaining in the funds accumuleted under the provisions aE (6J-d said paragraph 2. U there s6a11 be a default under any d the pcovisia~ of this matgpge, re- ° sulting in a public sale of the premises covered hereby, or if the m.xtgagee acquices the property othecWise efter default, the ,~aoctga~ee sball apply. a! tlr time oE the, ~olryaencement of such proceedinga a at the time the prop-- erty is othenvlse acquired, the balance then remaining ie'the fands accumulated under (bJ of paragraph 2 precedins ~ , as a credit egainst the amouat of principal then remaining.unpaid undec said note and shall properlyadjust aay ~ payenents which aball have been awde under (oJ eE said peragrapA. . 4. That he wiU pay atl taxes, essessment~c, watec rates, and other governmentel or mueicipel charges. fines, ~ a impositions, for ahich provision hes not been made Mereinbefae, end in default thereof the mortgagec may pay ~ the same; and that he will promptly deliver the ot[icial teceipts therefor to the mortg,ege~e. s> ~ f . ~oox~.~ ~ ~ i ~ ~ _ _ , . ~ .