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Home My WebLink About2689 ! [ ! ~ . ~ ~ ? ~ t .,ud mottg~gur d.x~s hereb~~ tuli~• w~a«aM ~he t~tle to sa~d land, a~d evety patt thercc~(, and w~ll defrnd the seme a~a~n~t thr !aw•tul cl~?ms ot all pe~sons whumsoever. PROVlDE:D AI.NAYS. and these p~esents a~e executed and delivered upon th~ folloMring cortditions. to wit: The mort~agor ag~ees to pay the mortgagee. ot ocder. the principal sum ot 1rYFT8~1 ~~AND : ~ Non~---------------------------------------------------------------- Doliacs (S 15 ~050.00 as evidenced by a note of even date herewit6, with inte~est from date at the rate of eight per centua a 9G) pec anaum oa the unpoid balance until paid. The seid principnt and inte~est shall bo payabie at the oftice of J. T. 3~rIART MORIGA('sS COI~ANY, INC. a corporation under the laWS of the Stete of Florida or at such othe~ place as the holder of the note awy desigaate ia writing. in monthly instailments of ODe Hundred Ten end 47~1~0-------------------- Dollars (S u~•~? commencing on the first day of N~]~'Ch 1 . 19 7'1. and on the fi~st day of each month thereafter untiltheprincipol artd interest are tully paid. except that the final payaae~t of principal and intecest, if not sooner paid, shal! be due and payable on the first day of February, 2001 And shall duly. promptly, a~d Eully pedorm. diachacge, execute. effect~ complete. and coaiply with end abide by each and every the stipulations. agceements. conditioes. aad coveaants of said promisso~y Qote and of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void. A~d the mortgagoc further covenants as Eollows: , 1. Thet he will pay the indebtedness. as hereinbeEore provid~d. Privilege is ceserved to pay the debt in whole, or ~n an artwunt equal to one a mae monthly payments on the principal that ace next due oa the note. on the first day of a~y month prior to maturity: Pro~~ided. however. that written notice of an inte~tio~ to exercise such privilege is given at least thirty (30) days prio~ to prepayenent; and. pcovided further, that in the event the debt is paid i~ fuil prior to maturit~~ and at thet time it is insured under the provisions of the National Housiag Act. he will pay to the mortgagee an adjusted premium cherge of one per centum (196) of the original principel amount thereof. except that in no evenf shall the adjusted premium exceed the aggregate amount of premium chacges which would have been payable if the mortgage had_continued to be insured until maturity; such payaient to be applied by the mort- gagee upon its obligation to the Secretary of Housing and Urbart Developmeat o~ account of mortgage insucance. 2. That. in ader more fully to protect the security of t6is mortgage. the mortgagor. together with, and in addi- tion to. the monthly payme~ts 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 mortgagee the following sums: ~~r! An amuunt sufticient to provide the holder bereo[ ~vith tunds to pay the next mo~t~sQe insuraace premium it this iastru- ment and the note secured hereby are inaurcd, or a monthly charee (in lieu ot • mort~age insuraace premium) if they ~re held by the Secretary o[ HousinQ and Urbaa Developmeat, •s tollows: (1) I[ and so IvnQ as said note ot even date and this ins/rumeat ~rc insu~ed or are teinsured under the pwviaions ot t6e ~lational Nousing Act, an amount su[[icient to accumulate in the hands ot tQe holder one (1) month prio~ to its due date the annual mwt~aQe insurance premium, in order to provide such holder with [uads to p~y such preauum to tde Secretory ~of HousinQ aad Urban Development pursuant to the N~tioa~l HouslnQ Act. as ameaded, and applic~ble Re¢u- Iatiuns thereunder, or (11) It and so long as s~id note d even date am1 thia inst~ua?tat are held by the Secretary ot HousinQ and Urban Develop- nent, a monthiy charge (in lieu ot a mortgaQe iasunace premium) which shall be in aa amount equol to one-twelEth (1 ' 12) o[ one-halt (55) pe~ centum of tbe aveta~e outst~ndia~ balonce due oa the notc computed ~rithout takinQ into account delinquencies or prepayments; /h1 A sum equal to the ground rents, it aoy, aext due, plus W~ premiums that ~vill ae:t become due and payable on policies of Gre and other hazard iosurance coverinQ tht mort~~Qed property, plus ta:es !nd assessmeats ne:t due on the mort- gaged property (sll as estimated by the mort~a~ee) less al! sums already paid tLere[or divided hy We number oE moaths to elapse be[ore ooe moath prior to the date when such ~wuad rents, premiums, ta:es. aod assessmeats wrill become de- I~nquent, such sums to be held by mortga~ee in trust to par s~id Qow~d rents. premiuss, ta:es, and special assessmeats; ~ ~nd ~ /r/ AU payments mentioned in the two precedin~ subsectioas ot this pare~raph and all paymenta ta be m~de under the note ~ - secured hereby sha11 be added toQether and the ag~reQate amount thercot shsll be poid by the mort~oeor e~ch wonih in a ~ ~ single payment to bc applied br the mort~aQee to the [ollo~vin~ items in tbe order set [orth: ~ (I) premlum chargrs ueder the contract ot insurance wilh the Secretary ot Housin~ and Urban Devetopment, or monthly ~ charge (in tieu ot moctgage insuraace premium), a: the case m~y be; (II) gror~nd rcnts, ta:es, assessments. tire, and other hazatd insuraace prcmiua?s; (Ill) intercst on the note secured hereb~; and (lV) amortuation ot the p~incip~l ot said note. Any deficiency in the ar.wunt d such aggregate monthly paymeat shall, unless made good by the moctgagor prior to the due date of the next such peyment, constitute an event of default under this modgage. The mortgagee may collect a"late charge" not to exceed two cents (2R) for each dollar {sl) of each payment more than fifteen (15) days in arrears to cover the extca expense involved in handling delinquent payments. ' 3. That if the total of the peyments made by the moctgagor under (6) of paragraph 2 preceding shali exceed the amount oE payments actuelly'made by the matgagee, for gROUnd rents. t~xes'and asussments end insurance premiums, as the case may be, such excess shall be credited by the moctgagee on subsequent peyments to be made by ihe mo~tgagor. If. however, the monthly paymeats made by the mottga~or under (6J of pacagraph 2 pre- ceding shall noi be sufficient to pay grwnd rents. taxes and assessm+~nis and insurance premiums, as the case may be, when the same shall become due and poyable, then tbe matg~got shall pay to the mortgegee eny emount necessary to make up the deEiciency. oe a beEae the date vrhen payment of such ground reats. taYes~ assessments. or insurance premiums shall be due. if at any time the mortgagor shalltender to the mo~tgagee in accocdance with . the provisions o( the note secured hereby, full peyment of the entire indebtedness represented thereby. tbt moct- gagee shali, in cwnputing the amount of such indebtedness. credit to the account d the mortgagor all paymeats made under the provisions of (o) of paragraph 2 hereof which the mortgagee has not beco~e obligated to payto tbe Secretary of Nousing and Urban Development and any balance remeining in the funds eccumulated under the provisions of (b) oE said paragraph 2. If there shall be a dEfault under any of the provisioas ~ thi~ mortg,age, re- sulting in a public sale of the premises covered ~ereby, or iE the matgagee acquires the properry othecwise aftec ~ de[ault; the moctg~gee shall apply. at tl~e time ot 1he commencement oE such proceedings or at the time the proP- s` erty is otherwise acguieed, the balance then remaining in the funds accumulated under (6J of paragraph 2 preceding as a credit against the amount of principel then remaining unpaid undtc said note aad shall ptoperlyadjust eny payments which sha[t have been made under (01 of said pata~raph. 4. That he will pay ail texes, assessments, water rates. and dher governmental ar municipel charges, tines, or impositeons, foc which provisioa has not been made hereinbefate, and in default thereoE the mortgagee may pay the same; and that he will promptly deliver the dficial teceipts thetefot to the mortg,agee. , i ~i~ ~ : i ~ ~ ~ ~ ~ ~ ' _ :r ~ , M~ - ~ :c~""'"-~ ~ , _ . _~r~' ~