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Home My WebLink About1812 i ~ . ' s.~id mortg.+~;or duc` hereby fully w~arrant the title to said land, and e~~ery part thereof, and will defend the sar.~e .~Kainst the l:i~~[ul claims of all persons whomsoe~•er. PROVIDED ALN'AYS, and these Presents are executed :~nd delivered upon the following conditions, to wit: The mortgagor agrees to pay the mortgagee, or ordet, the principal sum o[ , Twelve Thousand One Hundred and No/100---------------------------'-'-" [~llars fS 12, 100. 00 as evidenced by a note ot even date hereW ith, with interest from date at the , rate oi Eight and One-Half per centum 1~ 2 0) per annum on the unPaid balance ' until paid. The said principa! and interest shall be pa~~able at the office oi i J. I. Kislak 1Vlortgage Corporation of Florida, 1101 Brickell Avenue, Miami Florida 33131 ~ or at such other place as the holder of the note may designate in writing, in mo~thly installments of Ninety-Three & 05/100-----------------Dotlars (5 93.05 comn~encing on tlie [irst dav of December , 19?~ , and on the first day of each month thereafter untiltheprincipal and interest are fully paid, except that the final payment of principal and interest, if nat sooner paid, shall be due and pa~•able on the first day of NOV@1Tlb@Y', 2000. ~ 3 r~~d shall ~uly, promptly, and Eully perform, di~charge, execute, effect, complete, and comply with and abide i b~• each and every the stipulations, agreements, conditions, and covenants ~f said promissory note and o[ this mortgage, then this mortgage and the estate hereby created shall cease and be null and ~~oid. + i And the mortgagor further covenants as foilows: # 1. That he will pa}• the indebtedness, as hereinbefore provided. Privilege is reserved to pay the debt in whole, ` or ~n an .~mount equal to one or more monthl~• payments on the principal that are next due on the note, on the Eirst ; da~• of am• month prior to maturit~~: Pr~~rid~•d, however, that written notice of an =_ntention to exercise such privilege f ?s gi~~en at least thirty (30) da~•s prior to prepayment; and, pravided iurther, that in the event the debt is paid in f full prior to maturity and at that time it is insured under the pro~~isions o[ the National Housing Act, he wili pay to the murtgagee an adjusted premium charge of one per centum (1 0) of the original principal amount thereof, except that in no e~~ent shall the adjusted premium exceed the aggregate amount oE premium charges which would have been pa~~able if the mortgage had continued to be insured until cnaturity; such payment to be app!ee~ !+s ~he mort- - gagee upon its obligation to the Secretary of Housing and Urban Development on account of mortgage insurance. y That, in order more full~~ to protect the securit~~ of this mortgage, the mortgagor, together with, and in addi- ~ tiun to, the monthl~• payments under the terms of the note secured hereby, on the first day oE each month untii the ~ said note is fuli~~ paid, will pa}~ to the mortgagee the folloveing sums: : An an:ount suffic~ent to pro~•ide the holder hereot w•tth funds to pay the next mortKage insurance premium if this .nstru- ment andthe note secured hereby are ~nsured, or a monthly ~harge (?n lieu ~f a mortgagr tnsurance prem~uml if they are h~~ld b~ the Secretary o[ Housing and Urban Development, as follou•s: i11 If and so long as said note ~at e~•en date and this ~nstr~ment are ~nsured or are reinsured under the provisions o( the tia:ional Housmg Act, an amount sufGcie~t tu accumulate in the hands of the holder one (1) month prior to its due ; dete the annual mortgage ~nsurance premium. ~n order to provide such holder with funds to pay such premium to the Secretan• of Huusing and Urban Drvelopment pursunnt tu the Nat?onal Hous?ng Act. as amended, and applicable Regu- lat?uns thi~reunder, or ! 111 (f and ~o long as se~d n~te o[ e~•rn datr and this ~nstrument are held by the Secretary of N~us~ng and Urban Devrlop- c:rnt. a monthl>~ charge (~n lieu ot a murigage msurance premiuml whuh shall be in an amount equal to one-twelfth i 1 12) of une-halt prr centum o( the aeeraKe outstanding halance due on the note computed wtthout taking into . arruunt drltnquenctes or prepayments, ~ l A sur rqual to the ground rrnts, i[ any, next due, plus the prem~ums that ~~~11 next become due and payable on policies ,f fue~ and other hezard ansurance covenng the murigagrd property, plus taxes and assessments next due on the mort- I - RaKrd proprrt~• !all as rst~mated by the mortgageel iess all sums atrrady paid theretor divided by the number of munths t~~ rlapsr before one month pnor to the date r?hen such ground rents, premwms, taxes, and assessments wi11 become de- linquent, surh sums to be held by mortgagee ~n trust tu pay said ground rents, premtums, taxes, andspecialassessmenis, and i ~ Ali pa~^.rnt~ mentioned in the two preceding subsect?ons of th~s paragrnph and al! payments to be made under the note g .ecured havrb}~ shall be added together and the aggregate amount thereof shall be pa~d by the mortgagor each month in a € ~tnk:r pay~ment tn be applied by the mnrtqagee to the [ollow~ng items in the order set torth: t preT.ium char~;es under the centract o( tnsurance ~cith the Secretary ot Huust~g and Urban Development, or monthly £ . harge ~~n lieu of mortgage tnsurance prem~um), ~s the case may be, ~ ~ iI[i gro~nd rents, taxrs, assessmrnts, (ire, and other hazard tnsurance premiums; ~ (III'r ?nterest on thr n~~te secured hereby; and ;I~') ar..vrtuetton of the princ?pal ot said note. ~ An~~ deficienc}• in the ar.iount of such aggregate monthl~~ payment shall, unless made good by the mortgagor ° pnor to the due date of the next such pa}~ment, constitute an event of default under this mortgage. The mortgagee ' ~ ~a~• collect a"late charge" not to exceed tw•o cents (2C) for each doUar (S1) of each payment more than fifteen ~ ~ l~i da~•s in arrears to cover the extra exper.se involved in handling delinquent payments. ~ 3. That if the total of the pay~ments made by the mortgagor under (61 of paragraph 2 preceding shatl exceed ~ the amount of payments actually made by the mortgagee, for ground rents, taxes and assessments and insurance ; prem~ums, as the case may be, such excess shall be credited by the mortgagee on subsequent payments to be i made hy the mor.gagor. If, however, the monthly payments made by the mortgagor un~er (b) of paragraph 2 pre- ~ ~ ceding shall not be sufEicient to pay ground rents, taxes and assessmcnts and insurance premiums, as the case ? ~ may be, when the same shall become due and payable, then the mortg;.gor shall pay to the saertgagee any amount > necessary to make up the deficiency, on or befae the date when paya;ent of such ground rents, taxes, assessments, or insurance premiums shall be due. If at any time the mortgagor shall tender to the mortgagee in accordance with ':4 the prv~~isions of the note secured hereby, full Payment o[ the entire indebteciness represented thereby, the mori- ~ gdgee shall, in computing the amwnt of such indebtedness, credit to the account of the mortgagor all payments ~ m~de .under the pr~v~sions of (a/ of paragraph 2 hereof which the mortgagee has not become obligated to pay to ~ the Secretar}~ of Housing and Urban Development and any balance remain~ng in the funds accumulated under the ~ pro~~isions ot />>1 ot sa~d paragraph 2. lf there shaU be a detault under any of the provisio~s of this mortgage, re- ~ sult~ng in a public sale of the premises covered iereby, or if the mortgagee acquires the property othen~vise after default, the moctgagee shall apply, at thz~ time o[ the commencement of such proceedings or at the time the prop- t ~ ert•; is otherwise acquired, the balance then remaining in the funds accumulated under (61 of paragraph 2 preceding ~ as a credit against the amount o( principal then remaining unpaid under said note and ~hall propertyadjust any ~ pa5•ments which shall have been made under (u) of said pacagraph. 4. That he will pay all taxes, assessments, water rates, and other governmental or munic~pai charges, [ines, ~ or ~mposit~ons, for which p~ovision has not been made hereinbefore, end in detauit thereof the mortgagee may pa}• ` ~ the same; and that he w~il promptly deliver the official receipts thecefor to the mortgaRee. OR ~ aoo~ 18'7 p~~E 1812 ~ ~ S ' ~ - ":s -3s~.:~>: . . : ~w ~