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Home My WebLink About0753 . ' . ' ~.,tr ~f~~) J~ seid mortgagor does hereby (ully war~ent the title to s~id land. ond eve~y pprt thereot~ ~nd will defend the same agai~st the leiwful claims ot all pet~ons whomsoevet. ~ PROVIDED ALWAYS, ard thaae pre~ents an executed and delivered upon the followla~ coaditions. to wit: The m~xtgegor egrees to pay the mortgagec. o~ order. the ptincipol sum ot P"OIJltTEQN THdUSAND l1ND 1~10/100 w~~~ ~~~~~~~~~~..~r~.~~~.~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~w~~~w~~~~~~ Dollacs (S 14,000.00 os evidenced by • oote ot even d~te herewith~ with intecest f~om d~te at the _a e~..~.. I ~f r? ~i~ ..~^~iJ L~~~~~~ - i..c :i: r... i % ~.i r..c cu::~::: -~::~::a ~3.a::i.z u~tii paid. The said principol and inte~e~t shall be payable at the office of J.T. STP~fART MORTGlbGE COMPANY, INC. wite 300 - 100 Hiracle Mil~ in Coral G#l.ss, Floridn or at such other place as the holde~ oE the note may designate in writing. In monthly lnstallmants of N~y~ TE~tEE AND ~A/100 Dollars (S 93.24 comn,encin~ on che f irst day ot ~ne . 19 71 .~d oa the tirst day oE each month thtreaEte~ uat ll the princip~l and interest ace tulty paid. except tlwt tha tiaal p4ymeet of principal and interest. If aot soon~r paid. shall be due and poyable on the first day oE llaiy, 2001. And shall duly. promptly. and fully pedorm. di~cbaree. execute. efEect~ complete. and coaaply with ond ablde by each and every the stipulations. agreements, conditions. and coveaants of s~id ptomiasory note and of this mo~tgage. then thia moKgage and the estate hereby created shall cease and be null and void. And the matgaga further covenants as follows: = ' 1. That he will pay the indebtedness. as hereinbefoce pcovided. PciVitege is reserved to pay the debt ie whole. or i~ an amount equat to one or more monthly payments on ihe principol thal are next due on tlse note. ~n tf~e Iirst day of any month prior to matucity: P~avided. however. that written notlce oE an intention to exe~ci~e such privlle~e is given at least thirty (30) days prior to prepoyment; and. provided fudher~ that in the event the debt Is poid In [utl priarr to maturity and at that time it is insured u~der the provisions of the National Housing Act, he aill pay to the mortgagee an adjusted premium charge of one per centum (1R) oE the original principoi amount thereaf, except that in no event shall the adjusted premium exceed the aggcegate amount of prea?ium charQes ahich aould have been payable if the moctgage had c~ontinued to be insured until maturity; such payment to be applted by the anort- gagee upon its obligatioe to the Secretary of Housing and Urban Development on account of mort~age insurance. 2. That, in order moce fully to protect the security of tbis mat~p~e. the mortgagor~ together witb. end in addi- tion to, the monthly payments undec Lhe tenns of the note secl.aad hereby. on the Elrst doy of each month until the said note is fully paid. will pay to the mortgagee the following sums: ~~d/ An amount rutticient to provide the doider hereot with tunds to pay the neat mortQ~Qe insurance premium it thi~ Instru- ment and the aote secured bereby ~ee insured, or • monthly ch~rQe (in lieu ot a mort~a~e insurance premium) If ther are heid by the Secret~ryr ot Hwsia~ snd Urb~n pevelopmeat. si toUowrs: (1) If and so lone as said note ot even date aad this inateuaeat ~ro iasured or ~ro teinsured under the provisioas ot the Nationai Housin~ Act, an ~mount sufticieat to accumul~te !a tb~ hands ot the holder oee (1) moath pcior to lb due date the annual mortgaQe iusurawc~ premium, in order to pwvide wch holder wlth fund• to pay suchpremium to th~ Secretary of Housine snd Urb~n Developmeat pursu~et to the N~tional Housin~ Act, as ~mcaded. ~nd ~ppllcabl~ Resu- lations thereuader; or , (li) If or~d so long as said nnte ot even date aod this iastrument ~re held by ti~e Secrtt~ry of Housla~ and Urbsn Develop- ment, a monthlr charge (in lieu ot a mortQaQe insuraace prea~ium) which sh~ll be ie aa •mount equal to one•t~reitfh ~ (1 ~12) ot oae-halt (+h) per centum o[ the averaQe outstandin~ b~lance due oA the aote computed without takinQ ialo •ecount deliqquenciea or prepayments; /A) A sua~ equal to the Qround rents, it any. ne:t due, plus the premiums that wiU aext btcome due aad payable oa policies ot tire and oU+er huard insurance coverinQ the mortgaged pmperty, plus ta:es and asses~ments next due oa tbe moK- g~Qed pwperty (al1 •s estimated by the mortga¢ee) less al1 sums already paid eberetor divided br tbe number ot soaths • to elapae betore oae aanth prior to the date when auch ground reats, premiums, hzes, and ~ssessments will become de- i ; linque~t. such sums to be held by mortgagee in trust to pay said Qround rents, premiums. ta:~s, aadspecialsssessments; ~ ~ and ~ t~i All payments meationed ~n thc t~ro precedinQ subsections of this poraQraph aad atl payments to be m~de uader=the aote ; t secured hereby sh~ll Ae ~dded to~ether and the ~ggreQate omount thereof shall be paid by the moctQaQor eacl~ month in • ` stagte p.rwen~ to be applied Dr me mo~cQ•gec to the tollo~ring items in the order set totth: ~ (n prea~ium cM~es under the contract of insurance ~rith the Secretary of Housin~ ~nd Urban Development, or monthly € cAae~e (iq tieu ot moctea~e inswaace premium), as the case m~p be; g ([I) ~round rents, t~zes, assessnents, ttrc, and other h~z~rd insurance premiums; ~ (W) iuterest oe the oot~ setur~d berebY; aad 3 (I~ smortis~Uoo ot tbe princtp~l ot said aote. Any deficiency ia the amouat af such aggregate monthly paymeat shall, unless made good by the moctgaga p~ior to the due date of the ~ext sueh payment. constitute an event af default under this mortgage. The mortgagee may coflect a"late charge" not to e~cceed tvro cents (2t) for each dollar (;1) of eech ~yment more than fifteen (15) days ~n arteacs to cave~ tbe eutca expenst iavolved in handling delinquent payments. 3. 'That if the total of the paymeats mode by~ tlie mortgagor under (b) of paragaph 2 preceding shall e:ceed ~ the amount of payments actually made by tbe matga~, for g~ound rents. taxes and assessmeats and iasurance ; premiums, as the case may be. such excess shalt be credited by the moctgagee on subsequent paymeats to be ~ made by the mortgagor. If, however, the moathly paymeats made by the matgagor under (6) of pereg~ph 2 prr ceding shall not be suEficient to pay grouad rents, taxes and assessmaats end insurance premiums, a~ the cese ~ may be, when the sa~ae shell become due and payable. then the moctgagor stwll pay to the mortgagee any amount necessary to make up the deEiciency, on oc befate tbe date when payment of such ground rettts~ tsxea, assesaments, ~ or insurance premiums shall be due. If at ~ny time the moctgagor shall tender to the moctgegee in accocdance with ~ the provisions of the note secured hereby, fult payment of the entire indebtedness represented thereby, the mart- ~ gagee shall, in computing the amount of auch indebtedness. credit to the account af the mortgagor all paymenEa = ~ made under the provisions oE (o) aE pareg~aph 2 hered ahich the matgagee bas not become obligated to peyto t tbe Secretary of Housing and Urban Devetopmeat aad any balance remaining in the funds accumulated under the ~ provisions of (6) of said paragraph 2. If thece slwll be a default under any oE the provisioas of thia matgage. re• sulting in a public sale of the premises covered ~eceby, ot if the mortgagee ecquires the property othervvise after ~ default, the ~mortgagee shall apply, at the~time of the commencement of such proceedings or at the time the prop- ~ erty is othenvise acquired, the balance then cemaining in the funds accumulated under (b) of paragraph 2 preceding ~ as a credit ag,aiast the amouat of prlncipal then remainine uopaid under said note and shell properlyadjust aay payments which shall have bern made under (aJ ~ saId paragreph. ~ 4. That he Nill pay ell ta:es, assess~ents. water retes. and other governmental a municipal charges, fines, ~ or impositions, for which provision has not been made hereinbefae. and in deEault thered the mortgagee m~y pay the same; and that he will proroptiy deliver the official receipts thecefor to the mortgagee. ~ ~ ~ ~ • y '~5~1 ~ ~ - - - ~ _ : - - _ _ _ _ _ _ _ ~ ~ _ z . ~ r ~~r ~ _ " = 4 ~ : _