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Home My WebLink About2664 ~ r'irc suid mot~qegw doe~c hcreby tully wanaot the title to said land, aed every part thereot. ond wilt defend the sume aga~rtst the law[ul claims ot all pe~soos whorasoever. PROVIDED ALWAYS~ and these presents are executed and delive~ed upoa the followin~ conditions. to wit; ~ a_tga~or~agcees to pay the moctgp~ee~ o~ oide~. the pru~cipal sum oE ~ /LOO~~M~NNN~~~N~M~~~NM~NMNrM~NMM~~M~~ Doll~rs (S18•700.00 os evidenced by a aote of even date hecewith. wtth intecest from date at the ~ete ot ~iylk i qN'~1! per centum 'X~) per onnum en the unpaid balance until poid. The said_ princippl and interest shall be payable at ths oEflce oE /~'OC~I+OM. Nll~ii!• 0~11TN i CONi~. 100 MM! M~ ~lr~st. J~alc~oantil3+~. llorida• oc et such other pl~cc as the holde~ oE the note awy designate in wtitieg. Ia monthly iastalla~eAts of ONi ~I~RI~ aotl 80/100-M~M~~~~~~~~~~~~~~~Dollars (S 1a3.80 coma,encing oa the ticst ds~y of ~Tanyary . 19 71 . and on the tlrst day ot each moath thereafter vntil the principol and interest are fully paid, exaept that the Eiaal payment of principal aad interest. !f not sooner paid, shall be due aad poyable on the first dey of D~vaobat. Z000. And shall~duly, pranptly. And fully pedo~m, discharge. execute. effect. complete. and comply v~ith and abide by each and every the stipulatioos. agreements. coaditions. and coveaaats of said pcomissory note and of this mortgage. then this mortgage end the estate hereby cceated shall cease and be null and void. And the watgsga tuc~het cQvenantr,qs follows: . ~ 1. That he will pay the indebtedness, as heceinbefore provided. Pri'vilege is reserved to pay the debt in v~hole. or in an amount equal to one oc moce monthly payments on the principal that are next dua on the note. on the first day of any month prior to maturity: Provided. however, that written notice of an intention to execcise such privilege is given at least_ thitty (30) days prior to prepayment; and. provided fudhec. that in the event the debt is paid in full prior to maturity pred at that tie4e it is insured undet tb~ pcovisions oE the; Natioaal.~lionsiag Aet, he will pay to the mo~tgagee.an adjusted pceinium charge of one per centu4 (1%) of tbe•Aritinal prin~j,ppl,q~wuat thereof, except that in no event slw~l tbe ~djusted premium exceed the ag,~te~ate amo.yat.of p~en~iuw ch e~. Fh,would have e q~ ~ bee~ payable if the mortgage had continued to be insured until maturity; such payment to be applied by the mort- gagee upon its obligation to the Secretary of Housing and Utban Development on accouat of mortgpge insurance. 2. That, in order more Eully to protect the security of this mortgage. the mortgagw. together with~ and in addi- tion to. the monthly payments under the terms of the note secured hereby. on the first day of each month until the said note is fully paid, will pay to the modgagee the following sums: . . _ (a1 Ae amount sufficient to provide the hoider hereot with tunds to pay the ne:t mortQaQe iasuraace premium it tbis insW- ment and We note aecured hereby are insured, or a month?y charge (in lieu of ~ mortQaQe insur~ace premium) it they are held by the Seccetary ot Housi~g and Urban Development, •s [ollows: - (I) I[ a~d so long ss said note of evea date and thls instrumeat ~re insurcd or ate reinaured under the pwvisions o[ tbe National Houaing Act, aa amowit su[ficieat to accumul~te aa tAe haads ot the holder one (1) moqth prior to its due date the annuel mwtQaQe insurance premium, ia order to provide such holdet with funds to pay suchpremlum to the Secretary of Housing aad Urban IIevelopment p~?rsuant to tde N~tional HousiaQ Act, as ameadsd. aod appllc~ble Re~u- tations thereunder; or (Il) 1f and so long as said note of even date and this instn~ment are held by the Secret~ry ot Housin~ aad Urb~n Develop- . ment, a monthly charge (in lieu of a mott¢a~e insutance premium) ~rhich shall be ia an aawunt equal to oae•pvelftl~ (1.'12) oE one-halt (y4) per centum o[ the aversge outsta~sding balance due on the aotd computed ~rithout takia~ iato account delinquencies or prC~a~nqeats; • - • . hlAsume I qual to the ground rents, i[ any, aest due, plus the premiuma that ~vill ne:t become due aad payoble on policies ot tire and other hazard ins~uance co~erin~ tde moelp~ prop~rty,- plus t~:es and asse~sments aeYt due on the mort- gaged property (all as estimated by the morEgaQee) less all sums already paid there[or divided by the number o[ moaths to elapse be[ore oae moeth priQr to th~ dat~ ~rl~en such ~roupd reais. premiums. 2a~es, ~qd ~ssessmeats wrill become de- linquent, such sums to be held by mortga~ee in trust to pay satd aroupd rents, premlums, tu[es. ~nd special assessments; s+nd . !r) Alt payments mentioned in the t~ro preccding subsectioas o[ this paragraph and ali p~yments to be made under the nots ~ secured hereqy shall be added together aad the agg~re~~te 4mount thereof shall be psid by the mort;aeor eoch month in • k single paymest to be ~pplied br the morteaeee to Rhe [oilowrina items ia the order set forth: I (n premium ch~rges nnder-tl?e cmtnet ot tasar~nce ivitl~ tf~e 8ecr~tar~ oi Housla~ and Urbaa D~velopment. or moathly ' charge (in ~ieu of mort~a~e ins~uaace prewiwi). •s t1~g.Fas~ mar.b*; ' . (II) ground rents; ta:es, assessmeats, firc, and other h~sard insurance premiums; (Ill) interest on the note secured her~by; aad (I~ amortuation of the priacipal of said note. ~ Any deficiency in the ar.wunt of such aggregate monthly payment shall, unless made good by the mortgagor prior to the due date of the next auch payment, constitute an event of default under this mortgage. The mortgagee may collect a"late charge" ~not to exceed:two cents (2e) for each dollar (SI) of each payment moce than fiheen (15) days in arrears to cover the extra expe~e involved ip ha~td~'u~g deliaquent p~yments. 3. That if the total of the paynents made by the mottaagor undet (b) of -f?te~graph 2 preceding shall exceed the amount of payR~ents ectually made by tl~ mqtgaaee.. fq~ Q9u~td .r4nts, taxes and assessments and in~urance premiums, as the case may be, such exceas shall be credited by the moctgagee on subsequent peyments to be made by the mortgagor. If. howeve~, the monthly payments made by the matgagor undec (6) oE paragreph 2 pre- ceding shall not be sufficient to pay ground rents. taxes and assessm~~nts and insurance premiums, as the cese may be, when the same shall become due and poyable, then the mat~agor shall pay to the mortgagee any amount ~ necessary to make up the deficiency, on a befae the date whea paymieat of such gcound rents. ta:es. assessments, ~ or insurance premiums shall be due. If at aay tiaae the mortgegor shall tender to the moctgagee in accordaace with ~ the provisions oE the note secuced hereby, full peyment oE the entire indebtedness repreaented thereby~ the mo~t- gagee shall, in computing the amount oE auch indebtedness, credit to the sccount oE the mortgagor ell payments made under the Qrovisions ot (a) of paragraph 2 hereof which the matgagee has not becane obligated to pay to tbe SecreWcy d Housic~ and Urbaa Development aad any balance remaining in the funds eccumulated under the provisions of (b) of said paragraph 2. U there shall be a default under any oE the provisio.~s of thia mortgpge. re- sulting in a public sale ot the premises covered ~eceby, or if the matgagee acquices tht property othecarise after deEault, the mortgagee shaU ~pply, at the time oE tbe coauaencea?ent of such pcoceedings oc at the time the prop- ecty is otherwise acquiced, the balance then remaieing in tbe funds eccumulated under (6J oE paragcaph 2 pcecedin~ as a credit against the amount ot principel then remeining unpaid under soid note and shail properlyadjust any payments which shali hwe been ewde under (o)~ot said pan~ph. 4. That he will pay all taxes, essessments, water rates, and dher governmental or municipel charges. fines, ~ or impositions, for which pravision has not been made heceinbefae, and in default thereof the mort~agee m~y pay the same; and that he will promptly deliver the official ~eceipts therefor to the mortq,aQee. - ~188 ~2659 . ~ ('4 ~ ~ _ ~ ' ~ _ . ~ N__._. . _