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Home My WebLink About1921 ~ . ; . r~ ; ~ said moctgago~ does heceby futly wa~rant the title to seid land, and every pait theceot, and will defend the same against the lawful claims ot all pe~sons whomsoevec. PROVIDED ALWAYS. and these prese~ts are executed and detivered upon the following conditions~ to wit: The mortgagor agrees to pay the matgagee. or order. the priecipal sum of ~~een T'housand One ~ ~~y ~ ~/~V~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~i~~~~~~~~~~~~~~~~~~~~~~ ~O~~a~ ~514,150.00 as evidenced by a note of even dete herewith. with intecest f~om date at the _ rate of pe~ ceatum ( ~ X,) per aeaum on the unpaid balance until paid. The said principal ar~d interest shall be payable at the office oE J. T. STBWAR'1' I+~RTGrAGg COMPApY, Il~C., s corporation under the lavs of tbe 3tate of Florids. or et such other place as the holder of the rtote may designate irt writing. in monthly installments of p~e H~mdred $igbt snd 81~100.---------- ~ollars (S 108.81 commencing on the first day of April . 19 71 . and on the flrst dsy of each moath thereafte~ untiltheprincipal and interest are fully paid~ except that the final payment of principal and intecest, if not sooner paid. shall be due aad payabte on the first day of MsrCh 2001. . And shall duly. promptly. and fully pettocm. discharge. execute. effect~ complete. and comply with and abide by each a~d every the stipulatio~s. agreeiae~ts. coAditions. aad covenants of said ptaaissory note and of thls mortgage. then this moctgage artd the estate hereby created shall cease and be null and void. And the mortgegor fu~ther covena~ts as follows: 1. That he will pey the indebtedness. as herei~before pcovided. Privilege ia reserved to pay the debt in whole. or in an amount equal to o~e oc mae monthly payments on the principal that ate next due oa the note. on the first day of eny month prior to maturity: P.ovided. however. that wrltten notice of.an Intention to exercise such privilege is given at least thirty (30) days prior to prepeyment; and. provided further, that in tbe event the debt is paid in full prior to maturity and at that time it is insured under the provisions of the National Housing Act. he will pay to the mortgagee an adjusted premium charge of one per centum (1X) of the original p~incipel amount thereof. except that in no event shall the adjusted premium exceed the aggregate amount of premium charg~s which would have ~ been payeble if the moctgage had continued to be insu~ed until matucity; such payment to be applied by the mon- gagee upon its obligation to the Secretary of Housing and Urban Development on accoant of wrntg~sge insuraace. 2. That, in order more~fully ta protect the secu~ity of thts mortgage. the mortgagor. together with. and in addi- tion to. the monthly payments under the terms of the note secured hereby. on the Eirst day of each month uatil the said note is Eully paid. will pay to the moctgagee the follopving suads: . - (n) An amount eutficient to provide the holder hereof ~rith tuads to par the ne~t mo~tQaQ~ insunnce premium it t6is instru- mer~t and the aote sec~red he~eby a~e i~sured, or o monthly charge (ia lleu of a mortQage iasurance premium) it they are held by the Secretary ot Housing ~nd Urbaa Developmeat, as follo~rs: . (I) It o~d ao lon~ as said aote ot even dite and this instrumeat are ins~ired or oro reiasured under ths pwvisioas ot the National Housing Act, an amount sut[icieat to accumulate lu t6e haads ot the holder ope (1).moat6 prioc to its due date thc annuai mortQage in:urance premium, in order to pmvide such 6older ~ritb funds to p~y sucbpeea?tua to We Secret~ry of HousiaQ and Urban Development pursuant to the Iiational Housia~ Act, as ~mended. ~nd spplicable Reeu• lations the~+eunder. or ~ (II) If and so long aa said note of even date and this instrument are held by the Secret~ry of HousinQ rnd U~Dan Develop• ment, a monthly charge (in lieu ot a mortQ~~e insunnce premium) ahicb shall be in an amouat equal to one-twrelEth (1; 12) o( one-half (~,S) per centum o[ the average outstandinQ b~l4nce due oa the note computed without takia~ iato account delinquencies or prepayments; (h/ A sum es~ual to the ground rents, if any, aest due. plus the prcmi~tms [hat will aext become due snd payable on policies ot (ire and other hazard insurance covering the morteaQed property, plus t~ses ~ad ~ssessmeats nest due on the mort- gaged property (all as estimated by the morlgaQee) les• all sums •Iready psid therefor divided by tde number of months to etapse betore one month prior to the date whea such ~rouad reuts, premiums, ta:es. ~ad assessments ~rill become de- linqueat, such sums to be held by mottgaQee in trast to pay s~id Qrouad rents, premiums. taxes, aad speciat ~ssessments; and - ` (c/ All payments mentioned in the two preceding ~ubsectlons o[ this paraQraph and all payments to be made uuder the note secured hereby shall be added to¢ether and the •g~~ote amount thereo[ shsll be paid by the mortQa~or eacd month in • ; single payment to be applied by the mortesQee to the folloaiag items ia the order set fortd: E (n premium charges under the contnct of insurance with the Secretary of HousinQ ond t)rbaa Development, or a?onthly ~ charge (in tieu of mortQaQe insurance prea?ium), •s the c~se may be; i (ll) ground rents, ta:es, sssessments, fire, aad otder h~s~rd insuraace premiums; k (!II) interest on the note secured 6ereby; ~nd ~ (Iln amortuatio~ ot the princlprl ot said aote. Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the mortgagor prior to the due date of the next such payment. constitute an event of default under this mortgage. The modgagee may collect a"tate charge" not to exceed two cents (2t) for each dollar (S1) of each payment mae than fifteen (15) days in arrears to cover the extra expense involved in handling delinquent peyments. 3. That if the tota! of the payments made by the mottQagor under (b) of paragcaph 2 preceding shalt e:ceed the amount oE payments actually made by ihe mortgagee, for gcwnd rents, taxe~ and assessments and iasurance premiums, as the case may be, such excesa ahall be credited by tlie mortgagee on subsequent payments to be - made by the moctgagor. . U. however, the monthly paymeats made by the mortgagor under (b) of paragreph 2 prr ceding shall not be sufficient to pay ground cents~ taxes and assessm.~ats aad insurance Pcemiums, as the case may be, when the same shall becane due and poyabte, then the matg~gor shall pay to the mortgagee any amount ~ necessary to make up the deficiency, on a befae tl~e date when paymeat of such ground reats, texes, assessments, ~ or insurance premiums shall be due. If at any time the modgagor shell tender to the mortgegee ia accocdance with ~ the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby. the mort- gagee shalf, in computing the amount ot such indebtedness, credit to tbe account af the moctgagor all paymeats made under the prwisions of (o) of paragraph 2 hereof arhich the moctgagee has not become obligated to payto tbe Secretary of Housing and Urban Developmeat and any 6alaace remaining in the fuads accumulated under the provisions of (6) of said pacegraph 2. If there shall be a default under any of the pcovisioas oE this matg,uge. re- ~ sulting in a public sale of the premises covered ~eceby, oc if the matgagee acquires the property othe~rise atter default, the mortgagee shall apply. at the time of the commencement oE such proceedings or at the time !he pcop- edy is othecvvise acquired, the balance then remaining in the funds accumulated under (6) of paragraph 2.preceding as a credit against the amount of prIncipel then remaining unpaid under said aote and shall properly adjust eny payments which shall have been mede under (a) of said paragraph. ~ 4. That he will pay all taxes, assessrnents, water rates, aad dher goveramental or municipal charges. fines. oc impositions, for which provision has not been made heceinbefore, and in default thered the mortgagee may pay the same; and that hc wiU promptly deiiver the oEficial ceceipts tberefor to the mortg,egee. ao~188 ~i91$ ~y~ ~ ~ : x_ _ _ ~ z~_ e- -