HomeMy WebLinkAbout1361 ~.,i~l ~~~~rtF•,,~F;.v ~1~,~•~ h~•rrh~ iull~ ~~.~tr.~nl th~• t~tlc• t~~ .,~i~1 L~rd, ..nt! c•~rn p.~tt tl~c•tt•~,1. :~nd t~tll de•irnd the• s.~~tu•
.~~;.~~n.t thr L~~~tu! rl.,~m~ uf ,~li prrs.~n~ ~eh.~m~.x•~t•r. ,
PI~'(1\'ll)f:l) AL_I\~~1'ti, :+nd th~•sc• prrti~~nts are rxrcut~~c1 and del~~ered upon 1he folloK•~ng conditwns, tu w~t:
T~ r m~~tt~;.~~;~~r .~~;rr~~s t., p.~~ thc• muriKa~;rr. urdcr. the pr~nc~p:~i tium of SE17F,T7TE~'N Tf:0US11I3D F'0[]R
t~U*1nRED FIF`TY ~1N7 N~'/100
L?.>lt.~ca t~17, 450.00 a. t•~ ~drnred b~ a nute of r~•rn date herrw•ith, wUh ~nteiest [rum d,~~r :~t thr
r.+tc• .~t ggV~l per ccntum ( 7 per ~nnum on the unpaid balance•
unt~l ~~:~id. Thi tia~d pnncipal .+nd mtc~rc•st shall b~ p.~~~able at the offie•e of
~POC1~N, MHJ?TIrBY, D71VIN s Cq~lPANY, lOb West 8aqr Street, Jukeanvilla, Florida
.~r .~t .u~•h .~ther plare ac thr hrlde~ uf the note ma~ dcs~Knate in w~~tinR, ~n monthly ~n~tallmrnts of ONE FiUNDR£D
SIYTEx...'N AND 22/100 ------------------------DuUars 21G.22 commencing on
t}er f~c~t da~ of M~y , ly ~j . ~nd on the first da~• of e~ch month thereaftet untiltheprincipal
.~nd interrst are tull~ pa~a, exrept th~t the final payment uE prin.ipa~ and ~nterest, if not sooner paid, shall be due
and p.icable on thc• lust da~ uf April, 2001.
And .hal( dul~. promptl~, and fuii~ periurm, d~scharge. execute, rffert, complete. and comply with and ab~de
b~ r.~rh and ecer~~ thc• st~pulaUuns, dKtecmrnts, condit~ons, ~nd corenants of said promissory note and of th~s
m.~rtRaKe, thc•n th~s muttkage and the c•.tate hereb~• c~euted sh~il cease and be null and ~•oid.
And thr mortgagor (urther co~•enants as folluws:
1 That he wiU pa~ the indebtedness, as here~nbefore pro~ ided_ Pti~•i1rRe is resen•ed to p:~~• thr debt ~n whole.
or in an ,~muunt equal to ~ne ar more monthlt payments ort the principal that are next due oo the note, on the f~rst
c}.+c .•t am month p~ior to matur~tt: l'..,. ; i~ .i, how•e~•er, that u~ritten notice of an intention to exercise such pri~•~lege
R~~rn at le~st ihut~• ~30} d~i~s prior to pre~~~ment; and, prut•ided lurther, that in the event the debt is paid in
luil pnor to maturit~ and at th~t time it i~~msured unde~ the pro~~isions o! ihe National Housing Act, he w•i'il pay to
thc~ m~~rt~;akee an .+diusted prem~um charg~~ of one per centum (1~~) of the original principal amount thereo(, except
th,.t ~n no e~ent shatl the adjusted premium exceed the aggregate amount o[ premium charges wh~ch uould ha~•e
z~~•en ~~a~able ~f the mortgage had continued to be ~nsured until maturit~•; such payment to be applied b~• the moet-
RdRee up.~n its obl~~,attvn to the Secretan• of Nousi~g and Urban pe~•elopment on account of mortgage insurance.
Th,~t. ~n order more full~• to protect the secunt~• of this mortgage, the mortgagor, together w•ith, and ~n addi-
tu~n t~~, thc• montht~ pat•ments under the tetms of the note secured heteb~•, on the first day uf each month until the
:.aid nute ~s futi~ p.+icf, w~iil pa~ to the mortgagee the follua•ing sums:
An ;:~t ~utti~ ia~nt pr~~:lde +ha• holdrr herrof ~ctth funds to pa}~ thr next martKaKr tnsurancr prrm~ur.. if this tnstro-
rrnt and thr n~~tr ~e•: urrd hrrrt,t er.• ins~rrd, ur a r.:onihh• charge ~in lic•u of a c;urtgeKc~ insurancr prc•m:um'~ tf thr~~ arr
t~~ i;i ch~• ~c•;rctan H~~u~~nF~ and t'rban Aea•a•lup:rent, as foiluus;
1 It .,n~i :.~n~ as .aui n~~;r , f rtrn date and th~s ~nstrumrnt are insured ur are re~nsurrd under the proe~s~ons ot the
X..;:,.nd{ ii.•::~:n~ Art en am~•unt .iilhc~ent tu accumulate in thr hands ot tAr holder une ~1) rr.c,nth pnor to its :fue
.f.+~r ;he ~~nuel :-..:rt~;atie ~:i.ur~n: r p:emium, :r. order to pro~•sdr such holder with (unds to pa~ such prem~um to thr
~r: n~!ar~ .~f f1,..:~:a.• and ~'rb.,n Decrl~pment pursunnt tu the \ational Housing Act, as amrnded, and appl.rable Rr~u-
...?:.,n~ !ha•rrun.ic~r. or
!1 Ii ami :.~n~; a. .aid n~•t~• ,ri r~cr. .ietr dnd thas instn:rr.ent arr held bt• the Secretar~~ of Hous:ng and l'rban Decrle.F.-
• rsr.. .r ~nth,t . h~r~;e ,~n i~c•u ~~i a r..~,rtgagr in.urance prerr.wrr.~ •xhuh shall be ~n an amount equat tu one-tw•eltth
! 1 1_ ~t onr-haIl ~':1 p~•r rrntum of !hr ~vrraRe uutstanding beIdnre dur ~.~n thr n~~te computed w~ithout tak?ng int~
a~ . ,.^t 3rlinyuen: u•s .~r prrpa~rrrnt~.
~ A~., _.,u.i'. t~~ thr ~;r~~und re•a!., it an}. ne xt dur, plus !he prr.^,:iurr.s that w~Il nrxt he~:~me due and pu}~able ~n pol~ctes
E t t:r~ ~;!~~~r t:~z:,rd tnsuranrr ~ uvrrln~; the r.~,rtgagrd property . plus taxes and assessments ~ezt due ~~n the r.:ort-
,..Rr.? c r. p~ zt~ ,eIi es r~t~r..atrd bc thr nwrtKaKrr) less ali sums alread~~ paid therefur di~•ided by the numbrr o( months
he•f: rc .~ne~ r.,mth pnrr thr ~iate when surh ~;round rrnts, prer.:~urts. taxrs, and assessmrnts wiii brcomr de-
I <•:it. ~~~n s t.~ hr ~e•:3 !n r,~rt~eKra ~n truic pa~~ sa:d gr~und rents, prrm.wms, t~Yes, andspertalassessments,
.
s a=: e'~~-~'~~,~ ^c•nt:.•r.r;i in :nr t~.c:: pre~rdinK sut~sritt~>ns .?f-thts parebraph and all pa~mrnts tv'~e r,:ade underthr n~tr
~ ~r~ ,:rrd hrrrbc snait !:r e:dr:~ :~tir?her an~: ihr a~tiTr~atr ar.:uunt tnereo( sha1; br ~atd by thr mor;gag~r each m~:nth ~r. ~
; ~z:~..ir pe}~^.rn: f~? he op~~:~rd by the ~::ortKagre to thr EatluNin~ ?trsr.s in the urder set forlh:
4 1; rr:r:~r. charFr. und~~r th~• : ontrart .~f insuranre utth the Srcret.n of tlous~ng and l'rban Dr~el.,p.-.,ent ur rrnthly
- . ha:~;e ~:n :~ru of r.:~~rt~age ~nsur.~ice prer..iuTl, as the case mac 6e,
F
~ II ,~r ..r.d rrnt~, taxrs. atisrs.~.rnts. ftrc. end _thrr nazarc: insurencr p~rm~ur.s;
` III in;rrr.t .,n thr ?.,tr secured hrrrb~-, and
` rt:ra:~.;n ~~f thr princ~pai of said n.~tr.
~
~ An~ c?et~~ienc~• ~n the a~ount of suc~ ~K~re~:~te month:ti~ pa~~ment shall, unless ^~.ade good b~~ the mortgagor
~rtur to thr our d.~te the next such pay^:ent, const~tutr an e~~ent of deta~lt under th~s mortgage. The mortgagee
~-a~ c~~:~ect a`'late ct~arRe" not to exce~rd tu•o cents (?C) for each dollar (S11 c~f each pacment more than f~fteen
~
~ + 1~ ~ da~ ~~n .,rrears tc~ co~•er the extra expense im~olved in handling deiinquent pa~~ments.
~
~ 3. That if the totai of thc pa~ments made b~ the murtgagor under (bl of paragraph 2 preceding shail exceed
~ thF a~,,unt of pa~r.:ents actuallt~ m~de b~~ the mortgagee, for ground rents, taxes and assessments and ~nsurance
=-reT~um~. as the• c.,~e mo~ be. such excess shat; be cred~ted by the mortgagee on subsequent pa}•ments to be
r~:,.~:e bti the mor!Kd~or. If, hou•e~•er. the montn:~ payments made b~• the mortgagoc unde[ IGI of paragraph 2 pre-
~ c~~d:aR ~ha:! not be suffu~ent to pa}• ~round rents. taxes and assessm~•nts and ~nsurance premiums, as the cdse
~ r:,,c bc•. u:~en the s~r,:e shail become due :,nd pa}•able, then the mortg~got shall pa}• to the mortgdgee an~ amount
nerrss~rc tu m.~ke up the defic~enrti,un ur before the date w•hen pay~ment of such ground rents, taxes,assessments.
~ ~~r ;nsur~+~c~~ pre:-~:u:~~ shal; be due. If ~~t an} t~me the mott~~gor sholl tender to the murtgagee ~n accordance w~th
'.he ~uo;:~:,m~ nf the a~.te s~cured hereb~•, fu;l pa~~ment ot the entire indebtec3ness represented therebt•, the mort-
< ~aKc•e sh~;:. :n c«mputinR the a;r~uunt of such indebtedness. credit to the account of the mortgagor ail papments
r.s~:ir under the F.LO\'I510'1S of ~u ~ of paraRraph 2 hereof w•h?ch the martgagee has not become obligated to pa~• to
= tbe Secrrtar: of Houstn~ .~nd Urban De~~e?opment and an~~ baiance rema~n~ng in the Eunds accumulated under the
`9 pr~::~i•.~n~ ~t nf ~~,:d par~graph ~ If thrre shal{ be a default under any of the procis~ois uf th~~ mortgagr, re- .
- ~::iti-~~; ~r. ~~ub;ir s~:e ot the prr~:i~es cocered iereb~~, or ~f the mortgagee acqu~res the property othe~u~~se atter
~ir!~+;;it. t;~- ~or!Kagee shall eppl~•, at the t~me o( the commencement of such proceedings or at the t~r.~e the prop-
- er!: 3~ ~~t't;<•rx~sc• ,cGu.red.:lbe bat..nce then remain~nK in the funds accumulated u~der Il~ i of paragraph 2 vrecedtng
- crc•~?:t .~ga~n;t the .,mount of ~~s~ncip.~l then rema~ning unpaid under s~~d note and sha:l properl}•adjust any
_ p.,~ment. ahich shall hate been made under ~~r1 of said paraKraph.
`x? ~ Th.+t he u•~lI pa~ alt t~~xe~ ~ssessments. ~x~ater ~ates, and uther gu~~rrnmental or munic~pat charges. f~nes.
~r i~ ~:r,tisr;~,ns. iur uh~ch pr~~~, iswn h~s nct been made here~nbefare, c+nd ~n default thereut the murtgagee ma>~ pay
'7~• .;.~r~~, „ru; •h~~t hc• w~~ti pr~,mpti~~ del:~er the off~rial rece~pis therefor to the mortgagee
=x' g00K
~ ° a 191 1359
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