HomeMy WebLinkAbout2671 sald a~atp~or does beaby lutly r•nas~ uw ~iete to said l.nd, ond every pn~t th~red~ a~d •ill d~E~nd th~ saaie
•~alast the lawtul clai~s at all p~raons ~rho+oso~ver.
PROVIDED ALNAYS. ~e?d Nsse pns~nts an exec~ted ~ad d~livered upoe~ tM EoUowl coaditioas to wit:
Tb~ moctp~a a~es to p~y th~ moct ~ee. or ocd~r~ tbe pciacip~l aum oi ~OOR'1'~K~~
~IZ l~l~m ~IlT! ~xD ~00----..~~M . .
Dolbn (t 1# a~0~00 ~s evidenced by • nctt oE ev~a d~ ~ewith~ witb intenst troa dat~ ~t the
ate of ~1~r~ ~d Ot~~~! p~r centwn ( ~~'Xr) Pe~ aaaua aa tht uop~Id balaace
until p~id. Tl~t sajd princlp~l and tot~rest ahall be psy~bl~ ~t t!~ oftlce of ~T. T• St~rt ~Or~~•
Oo~ss~~ I~a.~, 900 ~ir~t ~~tioaal saalc Bld~, Coral.aabl~~, ~lOrida
a at sncb dher pl~ce as tl~e holder ot the aote m~y designate In wriua lo o tbly iast~tl~?ents of ~~E~
TR~~ ~wD 66 Dollars (s comwenciee~ oa
We iicst daq of D~CM~= , 1970 o~ the first day of eac6 montb tbeeeaftat natilthepctaclpe~
and interost •re inUy paid. excspt tlwt the final p~yment oi cinclpal and Intete~t. IE ~d sooner pojd. al~all be duc•
and pay~ble on tbe tint day oE ~0~~l~ D.
Aad shall duly. p~aspt[y. aad tulIy peifons. dl~ch4~a. a~cecu~e. effect. complete. and comply wlth aad abide
by e~aah aad every tf~e sttputttioas. a~eements. coAditioos. ~nd covenaats of said p~a~Issory note and of this
mortga~e. then this eaortga~a and the est~te hereby cre~ted sball c~ase and be aull aad void,
Aad the mat~pgor furtber coven~nts ~s follows:
1. 1'hat he ~rill pay the indebtedness,as heeeinbefoce provided. Pcii?Ite~e L reserved to pay thc debt ia w6ole.
as ia an aawunt equal to ooe a aoce aontbty poyments oa th~ priacip~l that aee aeYt dne aa t6e aote. on tbe first
dey oE any moath prior to maturity: Psovided. hoarever. tbat ~rrlttsn notice of aa intentiaa to exercbe such pdvilege - -
is given at least thicty (30) days pria to pcep~yment; and, provided fwt6e~. that ia tlrc eveat the debt is paid in
full prio~ to isatudty and at that time it is iasured under the ptovisioas af the National Housine Act. 6e Mrill p~y to
tbe matgagee an adjwted p~eainm charge of one pei centum (1%) of the wt`inAl priacip~l ,aoaat thersof. encept
that in no event ahall the adjusted premium exceed the aggtegate amount of preoium ch~r~es whic6 would have
been payable iE the mwtgaQe had cootiaued to be insured uatil nwturity; such payment to be applied by the nort-
gagee upoa its obligptioa to tbe Secretary of Housing aad Utbon Developoaeat ou account of wat~ge Lunr~nce.
2. That. in o,der mae fnlly to ~rocec~ che security of chis a~«c~ge,-tbe e~aEgagor.~tog,etbee wlth. and in addi-
tlco to, the n~onthly paymeats nader tbe tera?s oE the note aecnred hereby, on the tin~t day of each month uatil the
said aote is Eufly p~id~ will pay to the mortgagee tbe following suos:
(aJ M amouat su(tlcitnt to provldt th~ holder i~eeeot with [uods to.p~y tl~e ae:t moetp~t insuranu pee~aiwn it tbis instso-
saAt and tbe rtote secured 1?eeebr are iasured. ot • oonthly chu~t (ia lieu ot a moctpge lnsurancs prta~ius) II th~y ~re
held br the Secretaqr ot Hwsio~ and Utban Develop~oeot. as follows: -
(n If aad ~o la~ as s~id oote ot eren date ~ad tlus instru~ent aro fnsured ar aes reiasurtd mdsr tb~ p~orisioa~ ot the
tiation~l Housieg Act. ~n ~mount aufticleat to ~ccu~niate ia t6c b~nds of the 6otder oae (1) mooth priw to its due
date tl~e aanua! eortpse tnsuranc~ prea~ium, fo order to pwrid~ wch Aoldet witA [uad~ to ps~ iwcA pteduo ~o tbe
Secretar~ o~ Housin~ ~ad ~lr~an Developweut purw~nt to tbe N~tiontl Honain~ Act. ~s sa~nded, aad applit~bl~ R~pt-
l~tioas theeeund~r. oc -
(In if ~nd so lone as uid note d eveo d~te and ffiis ~nstroo~nt are b~ld b~r tt~e S~crat~-of Housiat aod Urb~n D~~elop-
menc, a eoo~thlr cl~ae~e (ia lieu ot s mort~e iniaranc~ prtoluw~) wblcb s6all b~ ia aa u~oant eQwl to ooe-t~veitth
(1/12) of ons-hslt (yS) per ceatwe of th~ avera~e outsWfdL~ baI~ece due on ths note coasputed wltlwut takla~ iato
account delinQueneies or prepayments;
(b/ A au~o eq~ai W We pvund rents, it aar. aext due. plns tht preadwas tbat ~rill next becone dne ~ad p~y~ble oa polieies
of flrs and otbe~ hssud inswaace coveriaQ the mort;a~ed propertr, pius t~:es aod asaessment~ ne:t due on ttie ~ort-
i t+~ed p?ope~tr (~Ilt~a eatimateA;b~r the mort~a~ee) less all suas alre~dr paid Wustor dltrlded br thc nut~ber oi soaths
E to el~pse be(ore one s~oath prioc to t6e d~te whea sucb ~w~nd reats, preminss. t~:ei, ~ad ~sseasmaats ~vill becomt de-
f tinquept. soch swss to be 6eld by nwts~e~ itt t~yst to p~y said p~atnd reats, presi~fins, t~~s, ~nd sp~ciatars~isoeats,
i ~
~ (r) AU p~yments mauioned in'tbe two precedi~ subsect'soos ot tSis p~ra~rsph aAd .ti p.rm.nu :o ~~aae ona.r cb. aoc~
secured herebr sLail Oe sddM to~ether aad tht a~re~ate amount ther~of shall ~ paid bp tM ~ort~a~or eacb wonHt ie a
ainele payment to bs spplied by t6~ do~a~e~ to-i~e tollowio~ ltess ia 16e ord~r s~t [artb:
p~esiuo thar~es undes the coatnM o( iusunace ~ritb tbe Secretary ot Honsin~ and Urban D~vetopaot, or aaathlr -
char~e (in 4eu o[ ~no~e insuraace premi~n). ss tM c~s~ mar be;
(Il~ around reots, ts:es. asussai~at~, Cue. aod otMr hasard [aauraacf pteaduw: - ~
(Il1j intertst oq tbe oMe secwt~ed herebr; aqd
(Ih. smortisaUoa of tbe princlp~l oi sud note.
Any deficie~y ia the ae~ount d se~ch aggregate monthly paymeat ~hatl. unlesa made good by tbe eartZagor
priot to the due date of tlie aex~ sach poya~ent, caastitute on event af default uader this mottga~e. The mort~a~ee
may collect a'•late char6e" not to exceed two cents (2~) fa each dollsr (tl) of e4ch payment so~e tban fiheen
(15) days in amars to cover the extri eYpense involved i~ h~tndling delinquent peya~ents. .
3. That if the total of the payments made by the moetgator uader (bJ of parp~rapb 2 p~eceding shall e:ceed
tbe amount aE payrxats actwUy made by tbe mactgag~ee, Eor ~round ccnts, taxea and assess~ents aad iasurat~ce
preeniums, as the case may be. sncb exceas sball be ceedited by tbe moctgagiee on aubsequeat paymeots to be
made by the morig,~gor. If, ho~rev~er, the moathtY PaY~ts awde by t6e mactgagor nader (b1 of pongiapb 2 pre_
ceding shall not be sufficient to poy gRound cents, taxes and asae~s~acnts ead inaurance pre~aiams, os the cose
~ may be. whea the same shall becoare due and poyabla. thea tbe matg,a~a shall pay to tbe aoct~~ee any amoant
~ aecessary to nake np the deficiency, on a beface tbe d+~te ~rbea paymeat of such gcouod cents. taxa~, assesseents,
oc Insnra4ce premiums s6a11 be due. tE at oay time the modgogo~ sballteader to tl~e mat~a~ee ia accacdaace with
the pcovisioes oE the aote secored hereby, full payipeat of the entire indebtedne6s cepeeseated thereby, tbe mat_
gagee shall, in compnting tbe eaount af such indebtedaess, credit to tbe account d tbe mortga~or all p~y~neats
made wider the provisiaas of (a) d p~rsgt~ph 2 hereef wbich tbe moct~agee bas nat becaoe ablig,~ted to payto
tbe Secretary af Hc+isia~ and Urban Develop~ieat and aay balapce e~esoiaing in tbe tuads aecosulated under the
pcoviaions af (bJ aE said p~ragnph 2. if thece shdl be a defanit ader auy d the provisions of this aortgpge, rr
sulting in a pnbtic sale of the premises covered xreby, o~ if tLe mo~t~,a~ee ~cqnices tb~ property otbervise after
default. the '+ortga~ee sMll apply, at the W~e of tbe comenoemeM af s~6 pcaceedta~s ac at tbe time tbe prop-
ecty is othecwise acqoired, the balanoe tlien remsiniag ia tbe fnads aocaianlated under (b) of Pua6raPb 2 PKCedia6
ea a credit ag~inst t6e amouat of principal tbea reoaiair~ mpaid n~der said note aod shali pcoperlyadjwt 4ny
PaYments which sball have been nMde wMer (a) af said P~i~Ph•
4. Tbat he wiU p~y aU ta:es, assessmenb. Matec ntes. and dber ~ovecoaeatat a~unicipol char`e~, tines.
or impositioas, fa w6ich pravisioa has aot beea made be~eiAbefae, aad in defwlt tbered tl~e cnoct~ee m~y p~y
tbe seme; aad tbat 6e wiil pro~nptly deliver tbe dficiol ceoeipts tb~refor Co tbe satppe.
aaoK 186 ~~~E 2664
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