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Home My WebLink About1047 , . . . i ~ ~e~d matgagor does hereby fully vrra~~ent the title to said land, and every pa~t thereof. and will defead the same egamst the lawtul claima of ~II pe~sons whomsoevec. PROVIDED ALN'AYS. and these p~esents are executed and delivered upon the following conditions. to ~rit: The moctgagot agcees. to pay the mottga~ee, or ordet. the principal sum of ~J$~~ SL7iiL~ AViW~[~W NW ~/iVV~~~~~~.~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~w~~.~~~~~~~~~~~~ Dollars (S 15~700.00 as evidenced by a note oE evee d~te herewith. with interest fcom date at the ret~ ot eigbt !Wd one-half pec ceatwa ( 8~ 96) pec oanum oa tbe unpaid balance until paid. The said principal ~nd interest shall be payable ~t the o~fice ot J. T. 3TE~TART I~I4RTGAGB Cd~Y; Ii~. , s corporatio~ undar th~ ls~rs oP tbe Stste of Florida or at suc6 othe~ place as the holder of the note awy designate in writinQ. in monthly installments of Qae Hundred 'ltirent,y and ?3~1~'--------------•-0ollscs (S 120.73 comaiencing oa the first day of ~y . 19'jl . and oa tbe first day of each moath thereafter untll the principal and interest ace fully paid. except thet the fin~l payment of principal and iatecest, If not sooaer paid, shal! be due and payable on the first dey of April 2001 And shall duly. promptly. and Eully pedorm, dischacge. execute. effect, completa~ and comply with ~nd abide by each end every the stipulations~ agceemeats. conditions. and covenants of said p~omissory note and of this moctgage. then this mortgage and the estate hereby cceated shall cease and be null and void. And the mortgagor Eu~ther cove~ants as follows: 1. That he will pay the indebtedness. as he~einbefoce provided. Privilege is reserved to pay the debt in whole. or in an aawunt equal to one or more monthly paymeats oa the principal that are next due oa the note. on the first day of aay month prior to maturity: Provided. however~ that written notice of an intention to exercise such privilege is given at least thidy (30) days prior to prepeyment; and. provided further. that in the event the debt is paid in fuli pcioc to maturity and at that ti~ae it is insuted under the provisions of the Netional Housing Act. he will pay to the mortgagee an adjusted premium charge of one per centum (1%) of the original principal amount thereof. except that in no event shall the adjusted pcemium exceed the aggregate amount of premium charges which would have been payable if the. mortgage had continued to be insuted until matwity; such payment to be applied by the mort- gegee upon its obligation to the Secretary of Housing and Urboa Developoe~t on accouat af mortgpge insuraace. 2. That. in ocder more fully to protect the secn~ity of tbis mortgage, the mortgagor. together with. and in addi- tion to. the monthly payments under the terms of the note secured hece6y, on the first day of each month until the said note is fully paid. will pay to the mortgagee the follawing sums: (ol An amount su[ticieat to provide the holdes hereot ~r1W [uads to psy the aext mortQaQe insuraace preouum it this insW- ment and the note secured hereby ate insured, o~ a monthly chuge (in lieu ot a mo~tgage insurooce premium) i[ they are held by the Secretary ot HousinQ and Urbaa Developmeat, a~ tollo~rs: (1) II and so long as said note ot even date and this iasteumeat sre iasured or a~e reiatured under the provisioas ot the National Housi~g Act, an amount sufticieat to accumulRte ia the hands ot the holder one (1) month prior to its duc date the annual mortgaee insurance premiwa, ia order to pwvide such hoider witb funds to pay sucb premium to the Secreary ot Housing and Urban Development pursuant to the Natiop~l Housit~ Act, •a ameaded. aad applic~ble ReQu- latioas thereunder. or ~ (lt) I( and so long as said note of even date and this instrumeat ~re held by tbe Secretary of Housing and UrbAn Develop- me~t, a monthly charge (in lieu ot a morigage insuroace premium) ~v6ich ahal! be in an amount equ~l to one-twe1lW (1!12) of one•halt (55) per centum of t6e average outstanding balance due oa tbe note computed writhout takia~ utto account delinquencies or prepaymenta; (6/ A sum equal to the ground rents, if any, ne:t due. plus the premiums that wrill next bscome due and payable on policies of tire and other hazard insurance cove~ing the mort¢oacd prope~ty, plus taYes ytd •ssesrmeats nc;t due on We mort- ~ gaged property (att as estimated by the mortgagee) less •11 sums already paid therefor divided by the number of months to etapse before one month prior to the date w?hen such grouad rcnts, premiums, ta:es. epd asse~sments wtll become de- ~ tinquent, such sums to be held by mo~tga~ee in trust to pay said Qround rents, premiums. tuces, and special assessme~?ts; ' and • i (c1 All payments mentioned in the two precediag subsections o( this paraQraph ~nd all paymeats to be made uader the aote t secured hereby shall be added together and the agg~egate amount thereof shali be paid by the mort~a~or each moath in a single payment to be applied by the mortQagee to the [ollo~vina items in the order set [ortb: (n premium charges uoder the coetract of inswance wtth the Secretary of HousiuQ and Urban Development, or monthly charge (in lieu of mortgage insurance premium), as the case may be; (ll) ground rents, taxes, aaseasmeats, fire, and olher hazard insurance premiums; ~ (III) interest on the aote sscured beroby; rnd (IV) amortization o[ the princippl ot said note. Any deficiency in the a~ount of such aggregate monthly payment shall, unless made good by the modgagor prior to the due date of the next such payment. constitute an event af default uader this mortgage. The mortgagee mag collect a"late charge" not to exceed two cents (2~) t~ each dollar (Sl) of each payment more than fifteen ~ (15) days in arrears to cover tl~e extca expense involved in handling delinquent payments. 3. That if the total of the payments made by the mortgagor under (6J of paragraph 2 preceding shall exceed ~ the amount of payments actually made by the matgagee, for ground rents, taxes anc! assessmeats and insurance ~ premiums, as the cese may be. snch exceas shalt be credited by the matgagee on subsequent peya~ents to be R made by the moctgegor. If. however, the moathly payments made by the mottg~goc under (b) of peragraph 2 pre- ~ ceding shall not be sufficient to pay gtonnd rents, texes end assessm~~nts and insurance premiums, as the case ~ may be, when the same shall become due and payable, thea the matg~gor shall pay to the mortgi+gee any amount ~ necessary to make up the def iciency, on a befae tbe date when payment of such ground rents. taxes, assessmeats, - or insurance premiums shall be due. If at any time the modgaga shall tender to.the modgagee in accordance with ~ the provisions of the note secured hereby, ful! payment of the entire indebtedness represented thereby. the mod- gagee shall. in computing the amount of such indebtedness. credit to the account d the mortgagor all paymeats made under the pravisions of (a) of paragcaph 2 hered which the moctgegee has not become obligated to peyto ~ tbe Secretary of Housing a~d Urban Development and eny balance remaining in the funds accumuleted under tlie ~ provisions of (6J oE said p~ragraph 2. U~there shall be a default under any of tbe provisio.~s of thia mortg,age, re- sulting in a public sale of the premises coveced ~ereby, oc if tbe mortga~ee acquires the ptoperty dhenvise after S ~ default, the mortgagee shall apply, at the time of the commencement of such proceedings or at the time the prop- ~ erty is otherwise acquired, the balance then remaining in the funds accumulated under (6J of paragraph 2 preceding as a credit against the amount of principal then remaining unpaid under seid note and shall properly adjust any ~ payments which shall have been made under (a) of said pacegreph. ~ 4. That he v~ill pey all taxes, assessinents, water rates, and dl~r governmental or municipal charges, fines. ~ or impositions, for ~rhich provision has not been made heceinbefoce, and in default thered the modgagee may pay ~ the same; and that he will promptly deliver the ofElcial ceceipts tbe~efor to the moctg,agee. ~ ~ ~~~$9 P~10~4 ~ . ~ f ~ ~ ~ ~ ~ ~ _ _ ~~~_.v _ . ~