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Home My WebLink About2426 . , . , ~•-"1 ' ~ r''~ . . f 1.1 ~ sbid mo~tgagw does hercby tutly wac~ant the title to said la~d, and eve~y pYrt theceof. and will de(end the same against the lawful claims o( all peasons whomsoeve~. PROVI~ED ALWAYS. ~od these p~esents p?e executed and delivered upon the followin` condltions. to wit: The mortgaga a~cees to pay the mort~~~ec. ot ader. the princlpol sum of ~ ~ ~ ~ ~ ~1~/1 ~ M~~~~N~~NNN~~~~~r~N~N~~~~~~M~M Doltars (S 16,750.00 as evidenced by • note oE even date herewith. with Interest from date ot the rete of ~ oa~1! pe~ ceatum 'X,) per aaaum on tbe uapoid balance until paid. 1'he said p~incipol and interest shall bct payable at tbe office oE ~i"OC'A~ON• M~Ttils O~V=N i OO~Ni~. 100 Ilr~t 1~ ~tswt. J~ok~oo~vill~. lLari,da• « at such other place aa the holder oE the aote may deaignate in writla~. in mo~thly inatallaients of ~ 1~AID~ SIRI~1'Y-sIQ~' ~U1D 8?y/100 -----~••Dollars (S 128.81 commenci~g on the first day oE Ja~Wary . 19», . and oa the first day'of each moath thereafter until the pclncipol end interest are fully pald, except that the final payment of principal aad iatecest, iE not sooner paid. ahall bc due and payable on the ficst d~y of D~Cl~b~=, Z000. ~ And shall duly. Qromptly~ and fully pedocm, discharge. execute. effect. co~qplete. ~nd comply with and abide by each and every the stipulations. agreements. coaditions. aad covenants of said pcomissory aote aad of this mortgage, then this matgage a~d the estate hereby cceated shall cease and bs null and void. And tbe matg,aga Eucthec covet~a.nt~.qs follows: , . . 1. That he will pay the indebtedness, as hereinbefore provided. Prlirll'ege is resecved to pay the debt in ahole. or in an amount equal to one or more monthly payments oa the principel that ace aext due oa the aote. on the first day of a~y month pcior to maturity: Provided, however. that writtea notice oE an intention to execcise such privilege is given at le~~t thlety (30) days pcioc to prcpayment; and. provided further, that in the eveat the debt is paid in full prior to matudty and at th~E t~ae it is insured uader t6~ provisions of tbe Natioael Housiag ~1ct. he ~?ill pay to the mortgagee an adjt~ted ptemiu~ charge of one per centu~ .(1%) of t4e .oci`,in~l pri~jp~l:Aaw~R theceof, except that in no event sb~ll t~e adj~tst~d_ premium exceed the ~g~re~ate, aawuat. of . p~emium ;rh~c~es ithic~;woultl have . been payable if the mo~tgage had continued to be I~sured until maturity; such peyment to be applied by the mort- gagee upon its obligation to the Secretary of Housing and Urban Development on ecconat af maCgpge insursace. 2. That. in order awre fully to protect the secucity of this mortgage, the mortgagor. together ~vith. aad in addi- tion to. the mont6ly payments undet the terms of the note secured heceby, on the first day of each month until the said note is fully paid. witl pay to the modgagee the folloqving sums: _ (n/ An amount su[tlcieat to provide the hoider hercot with tunds to pay the aett owrt~a~e insuraace premium if this insttu- mmt and the aote secured hereby are insured, or a montAly charge (ia lieu of a morttaQe inaurance premium) it they ~re heid by the Secretaryr of HonsinQ and Urban Development, as lollows; (t) It and so long as said aote ot evea date and tdis inaWment ue insured or are ~einsured yader the pm~isions of the National Houaing Act, •a amoant sufticieat to accumui~te in We hands of the holder one (1) moath prior to its due ~ date the annual mortQage tasur~nce preminm, in order to pwride such holder ~ait6 fuads to p~r sucbpremium to t6e Secretary ot Housing and Urb4a Devetopmeat pursuant to t6e National Housia~ Act, ~s amended. ~nd applic~bie Re~- lations thereiu?der; or (II) It and so long as said aote of eve~ date and"this instrument ~re 6eld by the Secretary ot Housing u~d Urban Develop- me~t, a moathly charge (in lieu of ~ atortQage iasunace premium) which s6a11 be ia an amow~t equal to one-twel[th (1 / 12) ot oarhait (y4). per centum of t6e aven~e outstanding baluice due oa the aote compnted without takinQ into account delinquencies or prepaymmts; ~ (h/ A sum equal to the ~eomd reats. J aa~, oest due. plus the pcemiuas that wlll nert become due aad p~yable on policies of tire and othcr hazard insuraace coverinQ the mertga~ed property, plus ta:es ~nd asseasments ae~ due oa the mort- gaged property (ail aa estia?ated bp il~s mort~a~ee) les• all suas aiready~paid t6erefor divlded br ffie aumber o[ mont6s _ j to elapse beforr one month prior to the date ~irhea such ground rents, prediiums. U:es, and assessmeata will become de- i linquent, such sums to be held 6y mortQa~ee ia trust to pay said ~cound cent~r premiiiss. t~ces, aod specLl assessments; I and • - ' ! (c) Alt payments mentioned in the twro precedin~ subsections o[ this panaraph ~ad all paymeats to be made uader the note ~ secured hereby shall be added toget6er and the a~re~ate omouat thereot sh~ll be p~id br the mort~aeor each moaW in • single paymept to be applied by the mon~a~ee to the follorria~ items ia tbe order set [ort6: ~ (q premiua chmes ander the eontraet ot l~lsaraacs wrlth tAe 8eceel~r~ st Hoo~idt ~ed tJrbao Developmeot, or montblr t c6arge (in lieu ot mot~~e ~nsrraa~ pre~jym). tl~t case mq b~: _ _ ~ (II) ~rouad rents. tsses, assessmeats, tlte. ~nd oWer h~zard insuraace premiums; ~ (IIl) interest on We note secarcd 6ereb~; ~nd (I{~ amoetisation of the principal ot said note. Any deficiency in the amount aE such aggregate monthly paymeni shall, unless made good by the moctgaga prior to the due date of tbe next suCh payment, constitute an event d default under this mortgage. The modgagee may collect a"late charge" aot ta e:ceed two eeats (2t) foc esch dollar (Sl) of each payment mae than fiheen (15) days in anears to cover t6e extc~ expense involved ig hapd~ing delinquent poyments. 3. That if the total of the poymeats made by tLe~ adtgagot aade~ (6) of puagcaph 2 preceding shall eYCeed ~ the amount of p~yments actually made by the mo~t~a~ee, fo~~ ~tpmd ieata~ taxes and assessmeats and insurance premiums, as the case may be, such eYCeas shall be credited by tbe mo~tgagee oa subsequent peyments to be made by the mortgegor. If. however, the monthty payments made by the mortgagor uader (b) of p~ragrap6 2 pre- ceding shall not be sufficient to pey gcound ceats, taxes and essessmants aad insurance premiums, as the case . may be. when the same shetl become due aod payable. then the watg,aga sball pay to the matgagee any amatnt necessary to make up the deficiency, on a befae tbe date when paymeat of such ground reats, ta:es, assessments. ~ or insurance premiums shall be due. If at any time the mortgagor shalltender to tbe mortgagee in accotdance wit6 the provisions of the nde secured hereby, full paymeat of the eatire indebtedness repre~eated the~eby, the mort- ~ gagee sball, in computing the amount af such indebtedneas, credit to tbe account of the mortgagor all pay~nents ~ made under the provisions of (a) of poragFaph 2 hereaf which t6e matgagee hes not become obligated to poyto the Secrecary uf HousinQ ~nd Urban Developmeat aad aay balance remaiaing ie the fuads accumulated under the ~ provisions af (6J af said paragraph 2. If t6ece shall be a default under any of tbe provisloas of this matgage, rr sutting in e public sale of the pcemises covered ~enby, oc if the matgag~ee acquires the propeety otberwise after ~ default, the matgagee shall apply. ~t tLe ti~e oE t6e com~ace~nt of such proceedings or at tlie time tl~e prop- erty is otherwiae acquired. the belance t6ea reaaining in the ~unds accumulated under (6J of paragraph 2 preceding es a credit against the amount of prlncipol tben remaining unpaid uader said note and shall pcopecly adjust aay payments ~rhich shall have been awde under (a) af said paradraph. _ ~ 4. Thst he will pay all tases, essessa~eats. water rates, and dher govecn~nental or municipel char~es. Eines, or impositia~s, for which provisian has not been made hereinbefae, and in deEault thereoE the mort~a~ee may pay the same; and tfwt he will proraptly deliver tbe official receipts therefor to the mo~t~,agte. ~ ~ 188 ~2422 C= : . ~ , . - ~ ~ ~.u; ~ = x~~~ ~ ~ . , ys ; W : z,' - .