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Home My WebLink About2062 .a~d +no~t~;u~;u~ d~cs hereby fulh• warrt~nt thE titlr t~~ se~d land, and e~•ery pett thc•reof, and will de(cnd the same :~ga~~st the lawful cla~ms o( all pcrsons whumsoeve~. PltOVIDED ALNAYS. and these presrnts a~e executed and delivered upo~ the tollowing condi~iona, to wit: The mottgagot aRtees to pay the moctgagee, or order, the ptincipel sum ot ~G~~ ~~g,u,~p ~C,~ •~W~~ ~ Na~~I~ ~~~~~~~~~~~~~~~~~~~~~~Ar~~~~~~~~~~~~~~~~~~~~~~N~~~~~~~~~~~~~~~~ lh~llacs (S 18.800.00 ac evidenced by e note o( even date herewith, with intecest trom date at the rate ot N~ pet centum ( ? per annum on the urtpaid balertce until pa~d. 'fhe seid principal and inte~est sh~ll be payable ot the ofEice of ~TOC1Q'ON, N~tATIi~t, 071VI~i i COMP11i~lY. 100 /Nst aapr ~tsNt. Jack~omrille. !'3+orida « at surh other place ~s the holder of the note may designate in writing. in monthly installments of ~g ~ ~~y-p~y~ ~p Z~pp --------------N---- Dollars (S 125.21 commencing on the ti~st day oi ~e . 19 71. and on tht first day oi each monih thereafter untjltheprincipal and intecest are tully paid, except that the tinal paymcnt of principal end interest, if not sooner peid. shall be due and payeble on the tirst dey of ~y ~ ZpQl And shall duly, p~omptly~ and tully pedorm, discherge, execute. efEect. complett. end comply with end abide b}• each a~d every the stipulations, agreements, conditions, end covenants of said ptomissory note and of this mortgage, then this mongege ond the estate hereby created shall cease and be null and void. And the mortgagor tu~ther covenants as follows: 1• That he will pay the indebtedness, as hereinbefoce provided. Privilege is reserved to pay the debt in whole. or ~n an amount equal to one or more monthly payments on the principal that are next due on the note, on the [irst d:+~- uf any month pcior to maturity: Pruridrd, howevec, that written notice o( an inte~tion to exercise such pcivilege . ~s g~~•en at least thirty (30) deys prior to pcepayment; and. provided Eurther. that in the event the debt is paid in tull prior to matu~ity and at that time it is insured under the provisions ot the National Housing Act, he will pay to the murtgagee an adjusted premium charge o[ one per centum (Iro) of the original principal amount thereof, except that in no event shall the adjusted p~emium exceed the agg~egete amount of premium charges which would have been payable iE the mongage had continued to be insured until maturity; such payment to be applied by the mort- gagee upon its obligation to the Secretary of Nousin& and Urban Development on account of modgage insurance. - 2. That, in orde~ more fully to protect the security o[ this mortgage, the mottgagw, together with, and in addi- tion to, the monthly payments under the terms of the note secured heceby, on the first dey of each month until t6e caid note is fully paid, witl pay to the mortgagee the foilowing sums: ~:i~ An amount suf(~ctent to pro~ide the holdrr hereof witA tunds to pay the nexl mortQaQe insuraece premium if this instru- ment and the note secured hereby are insured, or a monthly charge (in lieu of a mortguQe ~nsurance premium) i[ they •re held by the Secretary ot Housiog and Urban Development, as follows: (I) It and sa long as said note of e~en date and this inst~ument ate insured or are reinsured under the provisions of tde \yt~onal Hous~ng Act, an amount sutt~cient tu accumulate in the h~nds ot the holder one (1) month prior lo its due ~ date the ¦nnual morteage insurance premium. ~n orde~ to provide such hotdet ~rit6 tuads to pay such premium to the Secretary of Housing and Urba~ Dea•elopment pursuanl to the Nation~l NousinQ Act, •s ~mended, ~nd applicable Reeu- l+t~ons thereunder; or tll) I( +nd so long as said note o[ even date and thls ~nstrument are held by the Secretary of Housing and Urban Develop- ment, a munthly charge (~n lieu ot s mortgage insurance prcmium) which shali be in an smount equal lo o~e-twel[th (1 12) ot one-half per centum ot the average outstanding balaoce due o~ the note computed without takinQ ?nto account del~nquencies or prepayments; A sum equal to the ground renta, if any. ae:t dne, plus the premiums that wrill next become due aed payable on policies u[ (~re and uther hazard insurance covetinQ the mortgaQed ptoperty, plus taxes and assessments next due on the mort- g,+ged property (all as estimated by the morte~¢ee) less ail sums alreadr paid therefor divided by the number of montba f to etapse Defore one month prwr to the date when such ground rents, premiums, ta:es, and ~ssesaments wili betome de- linquent, such sums to bc heid by mortgseee 1n trust to pay said Qtound rents, premiuma, t~=es, andcpecialassessments; ~nd j Aii papments mentioned ?n the two preceding subsections of this paragraph and all p~ymertts to be mode under the note j secu~ed hereby shail be added together ond the aggregate amwnt thereot shall be paid by the mott¢~gor e~ch month in o j s~ngle pa~ment to be appl~ed by the mortgaQee to the tollowing itema in the crder set torth: j prem~um charges under the contract o[ insurance wilh the Sectetary o[ Housin~ and Urban Development, or monthly ~ charge (~n lieu o( mortgage insurance premium), as the case may be; ~ (l[) ground rcnts, tazes, assessments, tire, and other hosard insurance prcmiums; ~ QII) intercst on the note secured hereby; and ~ (IVl amoRization o( the printipai of satd note. An~ deficiency in the amount of such aggregate monthly payment shall, unless made good by the mortgagor prioc to the due date of the next such payment, consfitute an event of default under this mortgage. The mortgagee ma~ collect a"late charge" not to exceed two cents (2e) for each dollar (S1) of each payment moce than Eifteen (15) days in arrears to cover the extra expense involved in handling delinquent payments. 3. That if the total of the peyments made by the moctgagor under (6) of pQragraph 2 preceding shall exceed ~ the amount of payments actually made by the mortgagee, foc ground rents, taxes and assessments and insurence Premiums, as the case may be, such excess shall be credited by the mortgagee on subbequent payments to be made by the mortgagor. If, however, the monthly payments made by the mortgagor under (6J of peragraph 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 matgagoc shall pay to the mortgagee any amount necessarp to make up the deficiency, on or befae the date when payment of such ground rents, taxes. assessments, or insurance premiums shail be due. If at any time the mortgagor shall tender to the mongagee in accocdance with ~ the provis~ons of the note secured hereby, tull payment o[ the entire indebtedness represented thereby, the mort- ~ gagee shall, in compating the amount of such indebtedness, credii to the account of the mortgagor all payments ~ made under the pravisio:~s of /a1 of pa?agraph 2 hereof which the mortgagee has not become obligated to payto tbe Secretar}• o[ Housing and Urban Development and any balance remaining in the funds accumulated under the ~ pco~•isions of (6) of said paragraph 2. ]f there shall be a default under any of the provisio~s of this mortgage, re- soiting in a public sale of the premises coveted ieceby, ~ if the mortgagee acquires the property otherwise aEter ~ default, the mortgagee shall apply, at the time of the commencement of such proceedings or at the time the prop- erty is otherwise acqutred, the balance then remaining in the funds accumulated under (b) of paragreph 2 preceding ~ as a ccedit against the amount ot principal then remaining unpaid undec said note and shatl ptoperiyadjust any payments which shall have been made under (o) of said pacagraph. ~ 4. Tfiat he will pay all taxes, assessments, watet rates, and other governmental or munic~pal charges, fines, ~ or ~mposit3uns, for which provision has not been made hereinbeEae, and in defeult thereo( the mortgagee moy pay the same; and that he w~ll promptly deliver the of(icial ceceipts therefor to the mortgagee. ~ a~192 2058 ~ . - 6,:: =2-. ~j~` ~''~'i x"~.~~ ~ ` e =a~lv . _ ~ ,