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Home My WebLink About2062 t 1 . ~ r? ~ i ~.ud mortg.,~;ur doc~~ herebt• full~• aurrant the title to said land, and r~~erp part thereo(, and w~ll defrnd the s:~me ~ .,gainst the law•tul claims o( alt persons whomsce~•er. PRO\~IDED ALICAYS, and these p~esents are executed and deliveced upon the fotlowing conditions, to wit: The mortgagor agcees to pay the mortgagre, ot order, the principal sum ot ~~Qj~ j~~ • HUliDR~ AI~ID N0~100------•------------------------------------------------ Dollars (5 1~~1~~p~00 as e~•idenced by a rtote of evea date herewith, with interest from date at the r:+te ot 8ey~,n pec centum ( ? per annum on the unpaid balance until paid. 'the said principal end interest shall be payable at the o[tice of ~J.T. ~p~ ~ CC~ApY, II~C., d corperation under the lara of the State of Florida. or at such other place as the holder of the note may designate in writing, in monthly installments oI p~Y g~/g ~ QQ~1~~_~~_~_~_~~~~~__ Dollars (S ~ ~ coma~encing on the [icst da~~ oT-- .7t1hE ~ , 1971 , and on the first dey o~ each month thereafter untii the principal and interest ace fullp paid, except that the final payment of principal and interest, if not sooner paid, shall be due and pa~~able on the first day oE I~y ~~0~. And shall duly, promptly, and fully perform, dischacge, execute, effect, complete, and comply with and abide by each and every the stipulations, agreements, conditions, end covenants oE said promissory note and ~f this mortgage, then this mortgage and the estste hereb}~ created shall cease and be null and void. And the mortgagor further co~•enants es follous: 1. That he will pay the indebtedness, as hereinbefoce pro~~ided. Pri~•ilege is reserved to pa~• the debt in whole. oc ~n an amount equal to one or moce manthly pa~~ments on the principal that are next due on the note, on the first da~• of any month prior to maturity: Pro~ ~drd, however, that written notice of an intentio~ to exercise such pri~•ilege is given at least thirty (30) days prior to prepa~~ment; and, provided further, that in the event the debt is paid in Eul1 prior to maturity and at that time it is insured under the provisions of the National Housing Act, he K ili pa~~ to the mortgagee an adjusted premium charge of one per centum (1 0) of the original principel amount thereof, 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 until ssaturity: such payment to be applied by the mort- gagee upon its obligation to the Secretery of Housing and Urban Development on account of mortgage insurance. 2. That, in order more Eully to protect the security of this mortgage, the mortgagor, together with, and in addi- tion to. the monthly payments undec the terms of the note secured hereby, on the first day of each month until the said note is fu?1~• paid, wil! pay to the mortgagee the following sums: r:,; An ar.;,unt sufficient to provide the holder hereot with [unds to pay the ae:t mortQage insurance pcemiu~r: if thts insw- mrnt and the note secured he~eby are insured, or a monthiy charge (in lieu ot a morteage insutance premium) it they ore hrld ey the Secretary of Nousing and Urban De~elopment. es tollows: ti? lf and so long as said note of even date and this instrument arc insured or are reinsurrd ur?der the provisions o[ the \ational Housing Act, an amount suft~cient to accumulate in the hands of the holder one (13 month prior to its due date the annual mortgoge insurance premiun. in order to ptoa~de such holdet with funds to pay such premium to the Secretar~• of Huusing and Urban De~•elopment pursuant to the National Nousing Act, as amended, and applicable Regu- lations thereunder, or ill) !f and so long as said note uf even date and th~s instrument are held by the Secretary of Housing and Urban De~•elop- ment. a monthly charge (in lieu of a mortgage ~nsuronce premiuml which shali be in an amount equai to one-tweifth i (1 121 ot one-hzlf ('i) per centum o( the average outstandtng balance due on the note computed without taking into f account delinquenc~es or prepafinents; t r+~: A sucr. equa! to the ground rents, t( any, next due, p2us the prem~ums that vcili next become due and payable on policies ot (ire and other hazard insurance cover~nQ the mortgaged propertp, plus taxes and assessments next due on the mort- C gaeed prapetty (all as est?mated by the mortgagee) lesa all sums already paid therefor Qiv:ded bp the number ot months ~ i to elapse befort one montt? prior to the date when such ground rents, premiurns. taYes, and assessments will become de- t ttnquent, such sums to be held by mortgagee in truYt to pap said ground rents, prem~ums, tozes, rnd special essessments; ~ and ~ r~ A1! p~yrr.ents menUoned in the two preceding subsections ot th?s paragraph and all payments to be made under ihe aote ~ secured herrb}- shall be added together and the aggregate amount thereof shall be paid by the mortg+gor each month in a £ single payment to be applsed by the morteagee to the tollow~ng items in the order set torth: 3. (I) prem~um charges under the contract of insurance with the Secretary ot Housin¢ and Urban De~•elopment, or monthl~ ~ charge (in I~eu of r.tio~tQage insurance premium), as the case m~y be; (Itl ground rents, taxes, assessments, [ire, and other hazard insurance prem~ums; (III) ~nterest on the note secured hereby; and ~ il~') amort?zat~on o[ the principal of s~id note. ~ An~~ deficiency in the ar.~ount of such aggregate monthly payment shali, unless made good by the mortgagor prior to the due date of the next such payment, constitute en event of default under this mortgege. The mortgagee may collect a"late charge" not to exceed two cents (2C) Eor each dollar (S1) of each payment more thaa Eifteen (15) da~•s in arrears to cover the extra expense involved in handling delinquent payments. ~ 3. That if the total of the payments made by the mortgagor under (6) of paragFaph 2 preceding shall exceed ~ the amount oE payments actually made by the mortgagee, for ground rents, taxes and assessments and insura~ce - premiums, as the case may be, such excess shall be credited by the mortgagee on subsequent payments to be ~ made by the mortgagor. If, howe~~er, the monthly payments made by the mortgagor undec (bl of paragraph 2 pre- ~ ceding shall not be sufficient to pay ground rents, taxes and assessm~~nts and ~nsurance premiums, as the case ~ map be, w hen the -same shall become due and payable, then the moctgcgor shall pay to the mortgagee any amount necessary to make up the deficiency, on a befare the date when payment of such ground cents, taxes, assessments, : or insurance premiums shalt be due. lf at eny time the mortgagor shall tender to the mortgagee in accordance with the pro~~isions of the note secured hereby, futl payment of the entire indebtedness represented thereby, the mort- < gagee shall, in computing the amount of such indebtedness, credit to the account of tfie mortgagor all payments ~ made under the provisio~s of (o) oE paragraph 2 hereof which the matgagee has not become obligated to payto ~ tbe Secretary of Nousing and Urban Development and any balance remaining in the funds accumulated under the ~ ~ prorisions o( (Li of said paragraph 2. If there shall be a default under -any of the provisio~s of this mortgage, re- ~ sult~ng ~n a public sale of the premises covered iereby, ot iE the mortgagee acquires the property otherwise aEter ~ default. the moctgagee shall apply, at the time ot the commencement of such proceedings or at the time the prop- ert~~ is otherw~se acqu~red, the balance then cemaining in the funds accumulated under (6) of paragraph 2 preceding - as a credit against the.amount ot principal then remai~ing unpaid under said note end shall properlyadjust any payments which shaU ha~•e been made under (o) of said paragtaph. - 4. That he will pay all taxes, assessments, water retes, and other governmentat or municipal chatges, fines, or impositions. for which provis~oa has not been made hereinbefore, and in default thereof the mortgagee may pay ~ the same; and thai he w~ll promptl~~ deliver the otficiat teceipts therefor to the mortgagee. o k 1g1 ~7 - EG~K ; Ts -y:~ :3 .I _ . . . : _ .S, _ . ~ _ . . _ . , . ~