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Home My WebLink About0758 . - ~'~~'~4'~"~ - ! ~.3 - ~ _ - - _ - - - - - . ; _ _ 1 ~ ~ ~ ~ L ~ - • . r ~ f . _ . . . . ~ said mortgagor does hereby fully warcant the title to said lend. and every part thereof, and will defend the same against the lawful claims of all persons whomsoever. ~ PROVIDED ALWAYS~ and th~se presents ece executed and delivered upot? the follaving coaditions~ to wlt: ' The matgagor agrees to pay the mortgagee. o~ order. the principel sum of THIRT81lN THOUS7~ND SIX Hi1tIDR8D FIFTY ~ND NO/~.00 Dollars (S 13,650.00 as evidenced by a oote ot evea date herewith. witfi interest fcom date at the rate of ~Ven per centum ( ~ 'Xr) per aanum oa the unp~id balance until paid. The said p~incipol and inte~est shall be payeble at the offlce of J. T. STgT~IART MOE~TGAGB COMPANY, INC. Suite 3Qa - 100 Miracle Mile in Cbral Gables, Florida or at such other place as the holder of the rtote m+~y designate in arriting. in monthly i~stallments of NINhR'Y At~ID 91/100 Dollara (t 90.91 commencing on the Eirst day oE ~trte . 19 71. aad on the tirst day of each moath tbeceaftet untilthepcincipel and interest ace fully paid. except that tbe final payment of princlpal and intece~t. if not sooner peid. sball be due aod payable on the first day of May, 2001 And shall duly. pranptly. and fully perfocm. discharge. execute. effect. complete. and comply with ond abide by each and every the stipulations. agreements. conditions. aetid coveaaata of 4aid praoissory aot~ and of this mortgage. then this mortgage and the estate hereby cceated shall cease aad be null and void. f And the matgagor funher covenants as follows: y 1. That he wilt pey the indebtedness. as hereinbefore provided. Privilege is reaerved to pay the debt in a?hole. 1 or in an aawunt equal to one or moce monthly payments on the principai that are ne:t due oa the note. on the tirat day of any month pcior to maturity: P,ovided, however. that written notice of an inteatien to exerclse such privilege is given at least thicty (30) days prior to prep~yment; and. provided fudher. that in the event the debt is paid in full prioc to maturity and at th~t time it is insured under the provisions of the Natioaal Nousing Act. he ail! pay to , the mortgagee an adjusted premium charge of one per centum (17G) oE the origieal principol amount thereof. except E that in no event shall the adjusted premium exceed the aggcegate amount of premium chacgea which would have i been payable if the mottgage hed continued to be insuced until raaturity; such payment to be applied by the wort- ~ gagee upon its obligation to the Secretary of Housiag and Urban ~evelopment oa accouat of mortg,ege Insurance. 2. That. in order more fully to protect the securtty of this mortgpge. the roortgagor. together wit6, and in addi- tion to. the monthly payments under the terms of the aote secured hereby. on t6e Eirst day of each month until the said note is fully paid, will pay to the modgagee the folloa?ing sums: - (a/ An amount sufficient to provide the 6older hereo[ aith [uads to pay the ne:t mortgaQe insurspce premium it tltis iastru- meat and lhe oote secured hereby are insured. or a monlhly c6u`e (ia lieu ot a mortQa~e insuraace premium) if thty are heid by the Secrctary of Housiag and Urb~n Development, •s tollow~s: (i) If a~d so lonQ as said aote o[ even date aad this insUu~oent ~re iasured or are roinsnred uader the pwvisions o[ tb~ Notional Housing Act, aa amount sutticient to accwaul~te in tM haods ot the holder one (1) month priot to its dne date the annual mwtga~e inswance premium, ia order to pwvide sucb hoider ~vitb [unds to pay sucbpremium to We Secretary of Housing and Ur6~ae Develapmmt pwsuant to the Platlonal HousiaQ Act, as ~meaded, and appiic~ble Reeu- latioes thereunder; or (11) U and so long as said note ot even date and this instrumeot ~re held by th~ Stcrstarr ot Nousin~ ~nd Urb~n Develop- meat, a monthly charge (in lieu of a mort~age u?surance preaaium) ~rbic6 shall be in an ~mount equ~l to one-tweiftf~ (1/I2) ot one-hal[ (ih) per ceatum oi the average outstandinQ balance due on the note computed ~rithout takiaQ into acrnuat delinQuencits or prepayments; /b) A sam equ~t to t6e ~omd rents, if any. ne:t due, plus the premiums t6at ~rill aext become dne ~nd p~yable on policies ot [ire and other hazud iasu~ance coverinQ the mortQaQed property, plus ta:es and asaessmeota ns:t due on the mort- greed pwpertp (~l! ~s estimated by the mort¢a¢ee) less all sums atready p~id Werefor divlded by t6e aumbec of months to el~pse before one month prioc to the date when such ~ound reats, prcmiums, ta:es. and asaessmeats wiU beeome de- liaqueot. such sums to be held by mortgagee in trust to pay said Qrouad renta, premiua~s, tues, aad special assessmeats; ~nd ~c) All paymer?ts mentioaed ia the two precedir?Q subsections ot t6is paraeraph aad all payments to bs made under the note secured hereby shpll be added to~ether and the aQ~reQ~te amount thereof shall be paid by the mort~a~or e~ch month in a sin~te pa~nnent to be ~plied Sr the mortQa~ee to the follo~rin~ items in the order set forth: ~ (Q {xemium cMrQes ~u?der the eontract of insurance writh the Secret~ry of HousinQ ~nd Urban Development, or monWly ~ char~e (1a tleo ot mortQa~e insurance premium), as the case m~y be; ~ (II) ~ound rsnts. t~Yes, tsstsrments, [ire. aad other hazard insurance premiums; ~ ilIl) tnterest on the oote sacured hcnbr; and (i~ amoet'u~tion o[ t6e pelacipd ot ~aid ewt~. ~ Any deficieacy in the amount d sucl~ aggregate monthty payment shall. unless made good by the mortgag~ pcior to the due date ot the aext such paymeM. censtitute an event oE defeutt under this modgage. The mortgagee may coIlect a"late charge" not to exceed two ceats (2t) Ea each dollar (tl) of each Qayment more than fiheen (15) days in errears to cover the actn expense' involved in handling delinquent payments. ~ 3. That if the total d tbe paymenia made 6~t tbe mortgagor under (6) of p4ragtaph 2~eceding shall exceed ~ the amount of payments ectually made by the mert~agee, for g~ound rents. taYes and asseszmentc and insurance premiums, as the case may be. such excess shall be credited by the matgagee on subsequent payments to be made by the mortgagor. U, ha~vevec, the monthly poymeats made by the martgagor undec (b) of pareg~ph 2 pre- ceding shall not be sufficient to poy ~ound rents, taxes and assessmanta and insurance premiums, as the case may be, when the same•shall become due and payable, then the matgegoc sball pay to the matgagee any ansonnt ~ necessary to make up the deficiency, on or beEoce the date when paymeat of sucb ground reats, to:es, assessment~t. or insurance premiums shal! be due. If at any time the moctgagor shall tender to the mortgagee in accocdance with ~ the provisions of the note secured hereby, full p~yment of the entire indebtedaess cepresented thereby. the mort- ~ gagee shell, in computing the amount of auch indebtedness, credit to the account af the matgagor all payments ~ made under the provisions oE (oj d paragraph 2 hered whlch the mortgagee has not become obligated to payto ~ tbe Secretary of Housing and Urban Oevelopment and any balance remeining in the funds accumulated under the provisions of (bJ oE said paragraph 2. if there slwll be a default under any oI t6e provisio~s of this mortg,age, re- sulting in a public sale of the premises covered ~ereby, of iE the matgagee acquires the propedy otherwise efttr default, the mortgagee shall apply. at the time of the commencement of such proceedings or at the time the prop- erty is otherwise acquired, the halance then remaining in the funds accumuleted under (6) of paragraph 2 preceding ~ as a credit against the amount of prIncipel then remaining unpaid under said note and shall pcoperlyadjust any ~ payments which shall have been made under (a) of said paregcaph. 4. That he will pay all taxes. assessments, arater rates, aad other governmental or municipal charges, fines, ~ or impositions, for which provision has not been made hereinbefae, and in default thereof the mortgagee may pay ~ the same; and that he will ptomptly deliver the official receipts therefor to the moctgagee. ~ ~ OR ~ ~ aoat1~ _ ~ ~A 1 : ~ . _ _ _ - - - - - - - _ ~ V ~ . ~--',~~'~_-~~.`~'"r ~..~-~s~ _ ~.~-c ~ -•-~:s, ~~~~w~~