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Home My WebLink About2953 9~ ~ ,~11~ ~ a,sid mo~t~~gw due~ hrteby tully vvrrrunt thr Utle to s~Ni l~rd, and e~•e~~~ putt therco(, ~ad w~ll dcfend the s~me a~iiflal ~II! IMM~tul cl~uas o( all pccsuns whomsoevet. ' PROVIDED ALNAYS. ~nd these pce~ents i~ executed aad d~liversd upoa th~ followia~ conditions. to wit: The aoct~a~ot agcees to pay tM mv~t~agre, ot o~det. tIK p~incipal sus oE 8~~ Z~~~ ~ HUNDiR.~ FIFTY AND N0~100---------•----------------------•-----•-------•------------ Dollars (S i6~~5p~pp as eridrnced by a note ot even date hecewith. with inte~rat f~an date at the ~ate of geV~n a~id pRe•h8lp per ceatua~ ( q~ ~f.) pe~ •unue on the uapoid b~tance until paid. Tha said pri~ip~l and intaest zh~l1 bo poyablo pt the office of J. T. 8T8~iART MOR'1'(iAG$ (~O~ANZ, INC., a corporetion under the laxa of the 3tste of Floride or at such other place as the holder of the note awy designate in writine~ in montbly inst~llaents oE Q~e I~13ndrad Thi2'teen e~zld 05~100--------------Dollacs (s ~~QS coma~encing oc~ the first day of Me?y . 19 'jl . and oa the firat day nf each moath theceafter untiltheprincipal a~d intecest are fully paid. except that the Eiaal payment of p~incipAl ~ad inta~est. if ~ot sooner p~id, sha11 be due and payable on the first day of J~pril~ QQpl~ And shall duly. pranptiy. and fully pedorm. discherge, execute. effect. complete, and cowply witb and abide . by each and every the stipulatioos. a~reements. coaditio~s. aad covenants of said pcoonissory note and of this mongage. then this mortgage and the estate bereby created shall cease and be null end void. And the matgagor further cove~ants as follows: . - 1. That he will pay the indebtedness. as hereinbefore pcovided. Privilege is reserved to pay the debt in whole. or in an amount equal to one or more monthty payments on the principal that ate next due on the note, on the first day of any month prior to maturity: Pro~~ided, however. that w~itten notice of an intention to exercise such privilege is given at least thirty (30) days priot to prep~yment; and. provided fudher. that in the event the debt is peid in full prior to maturity and et that time it is insured undec the provisions of the Nationai Housing Act. he will pay to the mortgagee an adjusted pcemium charge of one per centum (196) of the otiginal principol emour~t tteereof. except that in ~o event shall the adjusted premium exceed the eggregate amouat of premium charges which would have been payable if the mortgage had continued to be insured until rtiaturity; such payment to be applied by the mort- gagee upon its obligation to the Secretary of Housing and Urban Development on accouat o[ mortgage iqsurance. 2. That, in order more fully to protect the security of this mortgage. the modgagor. together with. and in addi- tion to, the mo~thly payments under the terms of the note secured hereby, on the first day oE each month antil the said note is fully paid, will pay to the mart~~~ t~~~pliowing sums: /oi An amount suf[icient to pr9vi~e the holder'~ercot.~rith fvp~s to pay the next mortQage insurance premium i[ this iastru- meru and the aote secured hereby ore iaswed, or a month/y charQe (in lieu ot a mortQage iasutance premium) lt they are held by the Secretary ot Housin~ and Urban Development, aa follows: (t) I( and so long as sal~eAotc of 1~i~ date aod this insteument ore iasured or aro reinaured under the pwvisiona o[ the National Housia~ Act~, p~t t s, eq~. to accumulate ia the honds ot the holder one (1) month prior to its due date the annual m a e ins n ortg ~ ~t~e ii~, ia order to provide such bolder wlth funds to pay sucli premium to the Secretary ot Housin~ opd YtbqE? D~y(~t pursuant to the N~tional Housiag Act, as amended, and applicable Reeu• lations thereunder; or (lI) If and so loag ss s~~F'd 4R~1'~ l~~s~pent are held by the Secretary of Housing ~nd Urban Develop- R~ ment, a monthty ~c (tA liefi~'oY` ~ ~ premium) w6ich shalt be ia an amount equal to one•tweltth (1,'12) o( one-haN~ per centum ot t1~~v~~,du s,alidin~ balance due on the note computed withoot taking into , account delinquencies or ptepayments; (ti1 A sum equal to the ground rents, it any, ne:t due, plua lhe premiums that will nezt become due oad-payable on policies ot [ire and other hazard insurance coverinQ the mortgp~ed property, plus tases and ~ssessmeats ne:t due on the mort- gaged property (all as estimated by the mortgagee) less all sums •Iready paid tl~erefor divided by the number of montha to elapse before one mooth prior to the date wt~en such ground reats, premiums, ts:es, aad assessmeats will become de• linquent, such sums to be held by mortgagee in trust to pay said ¢round rents, prnmiums, totes. aadapecialassesamrnts; and All payments mentioned in the two preceding aubsections ot this para~rpph and all paymeats to be made under tbe note secured hereby shall be added together and the aggregate amount thereot shall be poid by the mott~a~or eac6 month in a singie payment to be applied by the mortQagee to the followinQ items in the order set Eorth: premium charges under the contract ot insurance writh the Secretary of Housin~ ond Urban Development, or mortthly charge (in lieu of mortgage insuraace premium), as the case m~y be; (II) ground rents, tozes, assessments, tire, and other hazard insuraace premiums; i (III) intercst on the note secured 6ereby; ond (I~ amortisatioa of the principal ot said note. { Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the mortgagor k prior to the due date of the next such payment, constitute an event of default under this mortgage. The mortgagee s may collect a"late charge" not to exceed two cents (2~) foc each dollac (~1) of each payment moce than fifteen f (15) days in anears to cover the extra expense involved in handling delinquent payments. s 3. That if the total of the payments made by the mortgragor under (6} of paragraph 2 pceceding shall exceed ~ the amount of payments actuslly made by the mortgegee, foc ground rents. taxes end assessments and insurance . premiums, as the case may be, such exceas shaU be credited by tbe mottgagee on subsequent peyments to be ~ made by the mortgagor. If, however, the monthly payments made by the mo~tgagor undet (6J of paragraph 2 pre- ; ceding shall not be sufficient to pay gcound rents, taYes and assessm~~nts and insurance Qremiums, as the case may be, when the same shall becane due and peyable, thea the matgsga shall pay to the modgagee any amoant ` necessary to make up the deficiency, on or befo~e the date whea payment oE such ground rents, taxes, essessments. oc insurance premiums shatl be due. If at any time the mortgaga shalltender. to the mortgegee in accocdence with the pcovisions of the note secured hereby, full payment of the entire indebtedness cepresented thereby, the mort- gagee shall. in canputing the amount of such indebtedness. credit to the account of the mortgagor all payments ~ made under the provisions of (oJ of paragreph 2 I~ereof which the mortgagee has not become obligeted to payto tbe Secretary of Housing and Ucban Development and any balance remaining ie the tunds eccumulated under the E provisions of (b) of said paragraph 2. If thece shall be a default under aay oE tbe provisials oE this moctgage, :e- ~ sulting in a public sale of .the premises covered ~ereby. ot if the moctgagee acquires the property othecvvise a[ter : default, the matgagee 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 (6) of paregraph 2 preceding _ as a credit against the amount oE principal tben remaining unpaid under said note a~d shall properlyadjust any = payments which shalt have been made under (o) oE said p~ragraph. ~ 4. That he will pay all tax~s, assessments, weter retes, and dher governmental or municipal charges, fines, < or impositions, for ~vhich provision has not been made hereinbefae. and in default thered the mortgagee may pay ~ the same; and that he will promptly deliver the oEficisl tecxipts therefor to the mortg,agee. 5 goo~ 1~9 = 29 _ , ~ 44 ; ~ ~ ~ ~ f _ _ z { : ~ _ ~ Ny,.~ , _ _ : . . _