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Home My WebLink About0928 ~ , ~ ~ tlt ~fa~~ said northagor dues hereb~• (utl~~ w•arrant the title to said land, and e~•e~y part thereof, and w~ll detrnd the same ~ga?nst the law~ful cla?ms of all pe~sons a~homsce~~er. PROVIDED ALN'AYS, and these presents are executed and delivered upo~ the followtng conditions, to wit; The mortgago~ agrees to pay the muctgagee, or order, the principal sum of $j~'$[Q~ ~ Q~ ~~Y~~W~r/ iY i• tYIY ~/~W~~~~~~~~~~~~~~~~~~~~0~~~~~~N~~~~~~~~~~~~~~~~~i~r~~~~~~~~~~• Dollacs (S16~150.00 as e~•idenced by a note of even date herewith, with interest fcom date at the rate of 8eY'ep pec ceatum ( 7 n) pe~ annum or~ the unpaid balance until paid. The said principal and interest shall be payable at the office of ~j. 'j'. $j~ jp~(}$ O~AtfY, IIIiC., s corpar~tion under the laxs of ths State of lrlarida or at such other place as the holde~ o( the note may designate in writing, in monthiy installments of ~pe AMi~i~ ~n a~ JV/1W~~~~~~~~~~~~~~~~~~ ~0118~5 ~S 1~~~ COIIIR~lICI(lg Ofl the first day of ~ly , 19 and on the first da~~ of each month thereafter untiliheprincipal and inte~est are fully paid, except that the Einal payment of principal and interest, if not sooner paid, shall be due and pa~~able o~ the first day of 20~ And shali dulp, promptly, and fully perform, discharge, execute, etfect, complete, and comply with and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void. And the moctgagor Eurther covenants as Eollows: 1. That he will pay the indebted~ess, as hereinbefore provided. Privilege is reserved to pay 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 da}• of any month prior to maturity: Prori~ird, however. that writte~ notice of an intention to exercise such pri~~ilege is given at least thirty (30) days prior to prepayment; and, pro~ided further, that in the event the debt is paid in full prior to maturity and at that time it is insured under the provisions of the National Housing Act, he will pa~• to the mortgagee an adiusted premium charge of one per centum (1~) of the original principal amount ihereof, except that in no event shall the adjusted premium exceed the aggregate amount of premium charges which would have been payable if the mortgage had continued to be insured antil maturity; such payment to be applied by the mort- gagee upon its obligation to the Secretary of Housing and Urban Development on account oE mortgage insurance. 2_ That, in order moce fully to protect the security of this mortgage. the mortgagor, together with, and in addi- t~on to, the monthl~~ payments under the terms of the note secured hereby, on the first day of each month until the said note is fuli}• paid, will pay to the mortgagee the following sums: .:r; Aa anount sufficient to provide the holder hereof with tunds to pay the next mortgage insurance premwm if this instru- meru and the note secured hereby are insured, or a monthly charge (in lieu o! a mortgage insurance premium) if they are held by the Secretary of Housing and Urban De~elopment, os tollows: (1) If and so long as said note o( even date and this instrumeat are iasured or are reinsured under the provisions of thr \ational Housing Act, an amount su[ficieat to accumulate in the hands ot the holder one (1) month prior to its due date the annual mortgage insurance premium, in order to provide such holder with funds to pay such premium to the Secretar~- of Housing and Urban Development pursuant to the National Housing Act, as ~mendtd, and applicable Regu- lattons thereunder; or (II) If and so long as said note uf even date and this instrument ate held by the Sscretary of Housins and Urban Develop- nent, a monthly charge (in tieu of a mortgage insurance prcmium) which shall be in an amount equal to one-twelfth ~ (1 12) o( o~e-halt (~4) per centum of the average outstanding balance due on the note computed wlthout taking into ' account delinqueacies or prepayments; ~ ~ti; A sum e ual to the round rents, it an ne:t due, lus the remiums that will nezt become due and a able on olicies ; 9 g Y• P P P S' P of flre and other hazard ~nsurance covering the mortgaged propetty, plus taxes and assessments next due on 2he mort- t gaged property (all as estimated bp the mortgagee) less all sums aiready paid therefor divided by the number of months to elapse before one month prior to thr date whea such ground rents, premiums, taxes, and assessments wilt become de- r linquent, such sums to be held by mortgagee in trust to pay said ground rents, premiuma, taxes, and special assessments, ~ and ~ : i All payments mentioned in the two preced~ng subsections ot this paragtaph and all payments to be nade under the note ~ secured hereby shal! be added together and the aggregate amount thereo[ shall be paid b~ the mortgagor each month in a ~ single payment to be applied by the mortgagee to the (ollowing items in the order set torth: ~ (I) premium charges under the contract ot insurance with the Secretar~ of Housing and Urban Development, or monthlp „ charge (in lteu of mortgage insurance premtum), as the case may be; F (!I? g~ound rents, taxes, assessments, tire, and other hazard ~nsurance premiums; ~ (III) interest on the note secured hereby; and ~ (IV) amortuation of the principal ot said note. ~ 4ny deficiency in the arnount of such aggregate monthly payment shall, unless made good by the mortgagor prior to the due date of the next such payment, constitute an event of default under this mortgage. The mortgagee ~ may collect a"late charge" not to exceed two cents (2C) for each dollar (S1) of each pay~ment more than fifteen (15) da}~s in arrears to cover the extra expence involved in handling delinquent payments. ~ 3. That if the total of the payments made by the mottgagor under (b) of paragraph 2 preceding shal! exceed ~ the amount of payments actually made by the mortgagee, f~ ground tenis, taxes and assessments and insurance premiums, as the case may be, such excess shall be credited by the mortgagee on subsequent papments to be c made by the mortgagor. If, however, the monthly payments made by the mortgagor under (b) of paragraph 2 pre- ~ ceding shall not be sufficient to pay ground rents, taxes and assessm~~nts and insurance premiums, as the case ; may be, when the same shall become due and payable, then the mo~tgsgor shell pay to the mortgagee any amount = necessary to make up the deficiency, on or befae the date when payment of such gcound rents, taxes, assessments. ~ or insurance premiums shaU be due. I[ at any time the mortgagor shalltendec to the mortgagee in accordance with = the provisions of the note secuced hereby, tull payment of the entire indebtedness represented thereby, the mort- gagee shall, in computing the amount o[ such indebtedness, credit to the account of the mortgegor all payments made under the provisio:~s of /a1 of paragraph 2 hereof which the mortgagee has not become obligated to payto - tbe Secretary of Nous~ng and Urban Development and any balance remaining in the funds accumulated under the - , rov~sions of of said paragraph 2. lf there shali be a deteult under any oE the provisio~s of this moctgage, re- ~ sulting ~n a public salQ of the premises covered iereby, or if the mortgagee acquires the property otherwise after § default, the mortgagee shall apply, at ihe time ot the commencement of such ptoceedings or at the time the prop- erty is otherwise acquired, the balance then remaining in the funds accumulated under (h) of paragraph 2 preceding w= as a credit against the amount of prlncipal then remaining unpaid under said note and shall properlyadjust eny ~x payments which shall heve been made under (a1 oE said paragraph. - 4. That he will pay all taxes, assessments, water rbtes, and other governmental or municipal charges, tinec, or ~mpositions, for which provision has not been-~nade hereinbetore, end in default thercot the mortgegee may pay ~ the same; and that he will pr~,mptly deliver the o[(icial ceceipts theretor to the mortgagee. ~ i9i : ~27 ~4 ~A ^ _ _ . _ ~ _ . ~ . , - ~r _ _