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Home My WebLink About1133 ..~id nott~..~;.~r c+..u~. hrreb~ tull~ uar~:.nt thr t~tie e~ said ?and. and r~rt~ patt thenof, and w~il! delrnd the sam~ ..Ka~nst thr :awtul ciatms af all presons w•humaoe~~e~. PRO\'IDED ALNAYS. ~nd these p~esents brc executcd ac?d del~ve~ed upon the lollow~ng condit~ons, to wit: The moctgagor egrees to pa~• the murtgagre, ot otdet, the ptincipal sum of F~I THO~AND S$1/F~1 ~~~n:~ ~in No/ioo----------------------------------------•---------------------- lh~llars ~S 15 ~7~0•40 as e~ idenced by a note ot even dete herewith, with ~nte~est frum date at the ! rate of eight pec centum ( $ n) per nnnum on the u~paid balance unt~l paid. The sa~d principal and intecest shall be papeble at the office of J. T. S~SKpRT MORZC'aA('L COI~ANY, Il~iC. , a carporati~a under the lsws of the State of F].arida. ~ ~r at such other piace as the holder of the note mey designate in writing, in monthly installments ot Otle H':ndred. Fifteen ~nd 2~+~100 DoUars (S u5 • 2~ comn~encing on the tirst de~ ot I~lfly . 19 71 . and on the Eirst day of esch month thereafter until the principel and interest ace fully paid, excep thut the tinal payment of principal and interest, if not sooner paid, shall be due and pay~able o~ the first day of ApTil 2001 ~ And shall duly, promptly. end fully pertorm, discharge, execute> effect, complete, and comply with and abide ~ b~• each and every the stipulations. agreements, conditions, and covenartts o~ said promissory note and of this ` mortgage, then this mortgage and the estete hereby created shalt cease and be null and void. And the mortgago~ [urther co~•eaants as follov?s: 1. That he will pay the indebtedness, as herei~before pro~•i~ied. Privilege is reserved to pap the debt in whole, or in an amount equal_ to one or more monthly payments on the principal that are next due on the note, on the first day d an~• month prior to maturity: P~o~ idrd, however, that wcitten notice of an intention to exercise such pri~~ilege ts given at ieast thirty (30) days prior to prepayment; and. provided further, that in the event the debt is paid in full prior to maturit~~ and at that time it is insured under the provisions ot the National Housing Act, he will pay to the mortgagee an adjusted pcrmium charge of one per centum (l~) of the original principal amount thereot, except that in no e~•ent shall the adjusted premium exceed the aggregate amount of premium chatges which would have been pa}~able if the mortgage had continued to be insured until maturity; such pa~ment to be epplied by the mort- gagee upon its obligation to the Secretary of Housing and Urban Development on account of modgage insurance. 2. That, in order more fully to protect t~ e security of this mortgage. the modgagor, togeEher with. and in addi- tion to, the monthly payments under t~?e terms of the note secured hereby, on the first day of each month unti! the ~ sa~d note is full~~ paid, will pay to the mostgagee the following sums: ' An amount sufftcient to prov~de the holder hereoi with tunds to pas the next mortgage insura~ce pcemium ~t this instru- ment and the note secured hereb~• are ~nsured, or a monthl~• charge (in lieu ot a mortgage insutance premium) if they •re held b~~ the Secretary ot Housing and UrDan De~elopmeai, as follows: iI) I( und so i~ng as said note of even date and this instrument are ~asured or ore teinsurcd under the provisions of the K.uonat Houstng Act, an :mount sutf~cieat to accumulate ia the hands of the holder one (1) month prior to its due d.te the snnual mortgage iasurance premium, in ordet to provide euch holder writb fuads to pay suchpremium to the Secretary of Hous~ng and Urban Development pursuant to the Hatioaal Hou;inQ Act, ss amended, and applicable Regu- lations thereunder; or illi If and so long ~s said note of even date and th~s instrument are held by the Secretary ot Housing and Urban Develop- r..ent. a monthly charge (in lieu of a mortgage ?nsurance premium) which shall be in an amount equal to one-twelEth (1 12) of one-hal[ per centum ot the aversg~ outstaadin~ balaace due on the aote computed without taking into wccount delinqueac~es or prepayments; ' A sum equal to the ground reats, if any, ae:t due, plus the premiums that will ue:t become due aad payable on policies i of f:re and other hazard insurance covering the mortQaged propert~•, plus tazes and ossessmeats nezt due on the mort- gaged properta• (all as estimated by the mortgagee) less all sums already paid therefor divided by the number ot months to elapse before oae month pr~or to the date when such ground rents, premiums, taxes, aad asseasments will become de- ; linquent, such sums to be held by mortgagee in trvst to pay said ground rents, premiums, taxes, aad special assessmentc, ~ ~nd ' i AIS a~n:ents menuoned m the two recedin subsecuoas ot thu ara a h and all ments to be made under the note ~ P" ) P Q P Bt P W) ~ ~ secured hereby shall bc added togethe~ and the aggregate amount thereo[ shaU be paid b~ the mortQa~or each month in a ~ single paymeat to be applied b~ thr mort¢agee to lhe lollowing items in the order set torth: p (Il prer.:ium charges under the contract of insurznce with the Secretary o( Hous~n¢ and Urban Developmeat, or monthly ch~rge (in lieu ot mortgage insurance prem~um), as the case may be; i (II) qround reats, ta=es, assessments, tire. and other hazard tnsurance prem~ums; ~ (III) interest on the note secured hereby; and ' (I\') +r.:ort~zation of the principal of sa~d note. } ~ An~~ defic~enc~ in the ar.iount of such aggregate monthly payment shalt, unless made good by the morigagor prio~ to the due date ot the neYt such payment, constitute an event of default under this mortgage. The mortgagee may collect a"late charge" not to exceed two cents (2a) for each dollar (Sl) bf each payment mace than Eifteen ~15) da~•s in arrears to cover the extra expense involved in handling delinquent payments. ~ 3_ That if the total ~ the payments made by the mortgagar under (6) of paragraph 2 preceding shali exceed ~ the amount of pal•ments actually made by tbe mortgagee. for g~ound rents, taxes and_assessments aad insurance ~ premiums, as the case may be, such excess shall be credited by the matgagee an subsequent payments to be ~ made b~ the mort a or. If, howe~•er, the monthl ments made b~ the mat a or under (6) of ara ra h 2 re- ~ ) gg YPaY 3 gg P g P P ~ ceding shail not be sufficient to pay ground rents, taxes and assessm.~nts and insurance premiums, as the case ~ may be. ~xhen the same shall become due and p~yable, then the matgtgor shall pay to the mortgagee any amount ~ necessary to make up the deficiency, on a befae the date when payment 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 the pro~•isions of the note secured hereby, full payment o[ the entire indebtedness represented thereby, the mort- ~ gagee sRall. ~n computing the amount of such indebtedness, credit to the account d the mortgagor all payments ~ made under the prcx~isio~s of (a) o( parag~aph 2 heteaf which the mortgagee has not become obligated to peyto ~ tbe Secretary of Housing and Urban Development and any belance remaining in the (unds accumulated under the ~ pro~~isions of /L/ oi said paregraph 2. I( there shall be a detault under any d the provisio~s of this mortgege, re- sutt~ng in a public sale of the premises covered iereby, oc if the mortgagee acquires the propecty otherwise after ~ defeult, the moct a ~e shall a 1 at the time of the commencement of such roceedin s oc at the time the ro ~ g B PP Y• P B P P ~ w ert}• is otherwise acyuired, the balance then remaining in the funds accumuiated under (6) of paragraph 2 preceding : as a credit against the amount ot principel then rema~ning unpaid undet said note and shall properlyadjust any payments which shell F?~vt been made under (al of said paragtaph. i ~ 4. That he will p~y all tazes, assessments, water rates, and other governmental or municipel chacges, fines, ot impos~Ucxis. for which pro~•ssion has not been made hereinbefote, and in default thered the mortgagee may pay t the same, and that he w~U prvmptly deliver the otficial receipts therefor to the mortgagee. ~ r ` ~ ~ ~~«189 r~E113p. ~ - ~ ~ - ~ ~ ~ ~ _ ~ ~ ~ ,~f u. - - - z~~ ~