HomeMy WebLinkAbout2943 said ~atp~or dws Me~by fully w~aot thr 1itM to s~id t~nd. ~ad wKy put tl~d. aM wlli O~f~na tiw u~e
~Ninat tM la~rtnl cl~t~s ot ~11 ptnoas Nbowao~vt~.
PROVIDED A1.NAYS, aad tMs~ pe~aN?b art ~:~crted a~d d~llvtad rpoA tb~ foUoMrt~ coaditions. to Mk~
Tb~ ~at~~o~ a<<e~s to p~y tM ~oetpp~. a oedtr. tl~t pciaclp~! su~ ot
~
Doll~n (t1~~~00•00 i. ~s evjdsnc~d b~r ~ aot~ oE ~vea d~t~ Ne~ritb. Mjth tacKest tcoe dat~ ~t the
nte of ~~t a1d O~~ P~c c~Rws ( Pn aaauw a~ th~ rap~id b~lsacr
until p.id. Tl~e said ip.t and inc.ce~t sbai bo ~f~ ~t!M ofEic• d
.T~? '!4i - ~177 L~s? ~0!'l~iiiQ! ~ I~
~1a0 Yira~l~ ~il~~ Cos~l Gr?blM~ ~lo~cida~ 311~4
a at such other pl~c~ ~s tbt kold~c d tt~ aate w~y d~sip~te In wrltl~°~.
~L~a~tbly iastallmeats of
~~'1!I!'!'ii~ L~D s~•00~~ Oollars ++~~51 com~encia~ aa
'tl~e first day cf ~r . . 19 Ta aa! oa tbe first d~y oE e~cb sioath t2M~aEtee ootilthepclacipol
aad lntecest aee fnlly p~id. except tb~t tl~e fin~l p~yaiwt oE ptiacipal and intero~t, if aot soa~er p~id. sAali be due
.na p.ybte on che ttrsc aay aE ~~r~ l000: i
And shall du1y. p~oeptlY~ and Enlly pedans. dlsc6ane. execute. effict. coa,plete. tud comply wlth ~ad ~bide
by each aod every /1~e :tipnl~tioas, a~aeaieats. condltioas, and coMenaMs of said pcoaiuory aote and of tbis
mortga~e, thca this nwttg~ge and the est~te ?icceby ceeoted shall ce~se ~ad be nnll and void.
And tl~e aat;agoc fu~er caven~ab as follows:
1. 1't+at be aill pay the indcbtedaess. as hereinbe[oce pcovided. P~ii?ileg~s is resecved to paq the debt iu whole, -
or ia an amount eqwl to oae a nae nonthty poymeats oa the priacipol that aee aext due oa tbe note. oa tbe first
day of any month prio~ to aatucity: Provided, however, tbat writteo aotlce of an infeatioa to exerctse suck privile~ .
is givea at lerst thirty (30) days pria to prepoyment;~nd, provided furthet. thpt in t1~e wedt the debt is p41d in
full pcior to matudty ard et that tia~e it is insu~ed _under the provLions of the National Housia` Act. be ~rill poy to
tbe moctgagee aa adjusted premium charge of one pei centum (11G) of the origiaal priaclp~l ~aooM thersof. e:cept
that in ao eveut shall the adjusted premium enceed !he aggtegate anwunt oE prcoium ch~r~,es whic6 would have
beea payable IE the moetgagc hod continued to be insuced untll maturity; such paya~t to be applied by fhe oort-
gagee upoa its oblig,atioa to tl~e Secretary of Housiag aad Urban Developaneat oa ~ccount of moet~age iasur~ace.
2. That. in order a~e Eully to protect the secnrity of this mat~,~ge, tbe aortgagar, to~ether wit6. aad ia addi-
tion to. tbe monthly payment~ aader t6e teras of the nde aecnred bereby, an Me first dsey of eacl~ moe~th until the
said note ia fully pei~, will poy to the a?ostgag~ee tbe toUawi~ suds:
~Qf AA ~mOYAL fOIIIClQA1 ~O pf'OiLd! ~1! ~IOId![ IIlttO~ ~~If ~11[I~i ~O.Q~~ tIlO RlxT OOt~ ~
p~e Msunoce preni~m if tbls iastru-
sest and We aote secwed hereb~ are insnred. or • oaathly ch~r~e (is lleu o[ a morc~.~e insur.oce pr.mt,,.~ tt et~er .re
6eld b~r t6e Secreury of Honsio~ aad Urb~4 D~~elop~neot. •s follows:
(I) It .od so tor,~ ~s :aid aae ot eveo da[e aad this tastru~eat ate insured w~re reituuced mtd~r th~ pe~ovisiao~ of e6e
Natloa~l Houstas Act. an ~mow~t sufEidmt to aacusol~t~ ia. th~ bmds ot Ute holdet oot (1) monW p~lor to it~ due .
dite fbe aaawl ~+atp~e lasusauce pceisium, ia order to pro~ld~ wch ialder wiW [~ad~ to pay sne6pt~e~iuo to We
Secrewp of Housin~ and UrDan Developoeot pww~ot to tM Katimal Hoasin~ Act. ~s ~eended, and applic~W~ R~~nn• •
I~tIons @?aeeundee: oe
(II) It snd so loos as sdd note ot even daRe apd this iastrum~et rre held bp the Secr~t~ry ot Housit~ aud thban Develop-
went. ~ aoathlr char~e (io Uen of • nort~e iasns~c~ preiniua~) ~rhic6 ~h~ll b~ ln ~e aaoont eqwl to oa-tv~ltts
n
(1/12) ot one-hal[ (ys) per eentwe ot ths aven~e outstar?diaQ bal~ace due on tls~ eote computad without t~klas into
account delinau,eacies or prepa~sents;
E (b) A sum equal to the pouad reats, if aaY. aert Que. pios t~e peea~lyms tbat will ne:t becons dne ~nd p~r~bie oa policles
i of fire and other h~sud iasurance coverin~ t6~ mortsqed property, plus t~Yes aad assessa~ent~ ne:t doe on tLe swrt.
~a~ed prope~t~ (~Il~~s estieoateA;bp the mort~Qee) leas all suss •tready paid ther~[or dl~ided b~ tAe nunber o! sontLs ~
to el~pte betore one s~oath prioc to the d~te trhen such ~ound reats. presiinms. taxes, ~sd sssessoents niU becaoe de- ~
UnQuent. snch suios to be 6e[d bp mo~tRa`ee in trust to psr said ponnd nnts. peenidss, ta~s, aadspeciai~sse~sm~U; ~
~ ~
(c) Alt paya~eats wauioned in tbe t~o preredieK subsections ot this paraRap6 and •tl p~yments to be made mder th~ note ~
secured herebr ahall be added to`etbtr ~nd tUt a~~ate aenamt lhereot shaU b~ paid~ bp the wort~a~oe ead~ pos?t1t 1p s
sinele psrment to be ~pplicd br t6~ morti~t~e to fhe followin~ ttes~ ia W~ ord~r set [orth:
(n presiua ch~nes under the coatract o[ insunace aith ti~s Secretary ot Housin~ aod Usban D~r~topo~at, or aaathly ~
chane (in Uea of mort~a~e insuranee premiuw), as tbe csae s?a~ be;
(In ~eonnd e~tnb, ta:es. sssesse~ents. Cue. aad otber hasard lasunnce ptemiwos; i
(IIn interest oA tbe aote secnnd bsreby; and +
(IV) amoctis~Uao ot the priacip~l oi s~id oote. ~
Any deficieacy in the amamt ef such aggregate nwntbly paymeat shall, unless made good by the eortgpgor ~
prior to the due date of tbe aext snch poymeM, ca~atitute on event af default uadei this mortg,oge. The moetgagee
may collect a"late charge" «ot to exceed two cents (2~) for each dollar (:2) of ea~ch p4yment ~e thaa fiftaeu
(15) daya in arrears to cover the extr~ e:pease involved in haadiing delinqueat payments. . .
3. That if the tatal of the poyments awde by tbe mo:tgaeor nader (b) af P~a6~iPb 2 P~~~B shall e:ceed
the amount of peyments actually made by the ~ogpe, tor graund reats, ta~ces aud as~esa~eats sad iasntaace
pceminais, os the case may be, snch esceas sball be credited by tbe morteaeee on sub~equent p4yaeats to be
ewde by tbe mortgagor. If. havever, tbe monthtY PoY~s oade by tbe iacctgegor ander (61 oE pangrapb Z pre-
ceding shall not be sufEicieat to p.y g~onad ernts, toxes and ~s~essmeats aad inaurance premIums. ~s the c~e
may be. whea the aame shall become due aad poyahle, tbeo tlye moet~eQa shall pay to the matg~~ee anp amamt
~ aec to naloe u tbe defici~nc . on or befae tbe d~te ~rhen
~=Y p ~n y Wyment of such ~roaod.ctpts. taaes,ossessoents,
or insaraace premiums slull be due. if at oay time the matgRgoc sb~Uteeder to tbe eortsa~ee in accadaace with
tbe provisions of the note secored he~eby, ful! payment of t6e e~ire Iadebtedness repcaseated tbereby. tbe aa~t- ~
gagee shall. in coo~puting the eowunt cf suc6 indebtedness. credit to the accouot ef tbe mortgagor all payments
a~ade under the pravisiaos of (a) af puag~rsph 2 hereaf abich tbe enoctip~ee 6as not becaoe oblii,~tad to pRyto
tbe Seceetary of Haosiag and Urbaa Develope~est ~od any balat~ce ~ewialna ia tbe luads occn,wLted uoder the
provisions oF (b) of said paragrapi? 2. if there slMll be a deE•ulc nader any d che proviaioaa oE this ~ac~ge~ ce-
sultiag in a poblic sile af tbe pceaises coverad ~eceby, oc ii cf,e mo~tsa~se ~c~ c6e propercy ocbe~rise after
deEautt. the moctga~ee sbell apply, at tbe ti~e af the co~aoencxmeat ef sach proceedin~s ec wt tbe time the prop- ;
erty is otherwise acqaired. the b~laAOe thea remajaia` ia the fmds aoc~imul~ted uader (6) d P~~Ph Z PK~~6
as a credit agalast the ~~ouot o~ pdacipal tben rcm~inln~ unpoid under said note ~ad shall pcopcrlyadjust aar ,
paYAeats which shall lwve been made wder (o) af said para~apb. ~
4. That he ~riq pay •U ta:ea, assessmenb, water rates. and atber govecnaeatal a mnniclp~l char~ea, ftoes,
a impositioas, foc a6ich pravisioa has aot been a~ade bereiabefae. aod iu defsalt tbereaf t~e a~atp~ee m~y p~y
the some; and that he ~rill pcasptly deliver tbe official reoeipts therefor Co th~ oatp~ee.
~i8s . . ;
~
_ _ - - : , ~ - ~
~ - ~f.~. , r.-,~;~ N d_. _ - _