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Home My WebLink About2148 .1~ i~~ ~ ~ ~ ' ~ I sa~d mo~tgador docs hereb~~ [ull~• w~a~rant the title to said land, aod r~~ery~ part thereof, and w~ll de(end the same ~ .,~u~n~t the lawiul claims c~t ali persu~s whumsoeve~. PROVIDED A1,11AYS, a~d these p~esents a~e executed and delive~ed upon ihe Eollowing conditions, to wit; The mo~tgagoc agrees to p~?y the mortgagc~e. or order, the principat sum of FOj1R'~ 'l~i0UBA1~D '~i~S M~+iD~RBD AND N0~100---------------------------------------------------------------- { lk~llars ca 14,300.00 as evidenced by a note oI eve~ date herewith. with intetest ftom date at the ~ rate of BeveD pe~ centum ( 7 9f.) pec annum on the unp~~d balonce ; until paid. The said principal and intecest shall bo pi?yeble ot the office aE ~j. T. B~iiART l~R'1C}A~iB OO~Y , II~iC. , a corporation under tbe laxa of the St.ate of Florids or at such other lacr as the holder ot the note may designate in w~iting, ie monthly iosteliments oE Ninety ~ Fi11e aDd 211f100-------------------------- Dolla~s (S 95•~ comn~encing on 4 the fi~st day of 3ept6~ebeY' , 19 71 . a~d oe the ficat day of each month thereaitec untiltheprincipal ' and interest are tully paid, except t}wt the final peyment of p~incipal and inte~est. i( not sooner paid, shell be due and payable on the first day o[ AuguBt 2001 A~d shall duly, procaptly. pnd tully pe~to~m, dischacge, execute, etfect. complete, end comply with and ebide b}~ each and evecy the stipuletions. ag~eements. conditions. and covenants of said promissory note and oE this mortgage, the~ this mortgege and the estate hereby created shell cease and be null and void. A~d the mortgagor iurther cove~ants es foltows: 1. That he will pey the indebtedness, as hereinbefore provided. Privilege is reserved to pay the debt in whole, uc ~n an amount equal to one a mae monthly payments oo the p~incipal that ace next due on the note, on the first da~• of any~month prior to maturity: P.~~~idea, however. that written notice of an intention to exercise such privilege is given at least thirty (30) days prior to pcepeyment; and. pcovided Eurthec. thet in the event the debt is peid in full p~io~ to maturity and at thet time it is insured under the provisions ot the Nationel Housing Act, he will pey to the mongagee an adjusted premium charge of one per centum (196) of the original principal amount thereoE, except that i~ no erent shall the adjusted premium exceed the aggregate amount of premium chacges which would have been pa~~able if the mo~tgage had continued to be insured until maturity; such poya~ent to be applied by the mort- ; gagee upon its obligation to the Seccetary oE Nousing and Utban Developmeet on account of modgage insurance. i 2. That, in order more fully to protect the security of this modgage. the moetgpgoc. together with, and in addi- j tion to, the monthly payments under the terms of the note secured hereby. on the first day of each month until the ~ said note is iully paid, will pay to the modgagee the following sums: i~+t An amount suf[icient to provide the holde~ hercot wtth (uads to pay the ne:t mortQaQe insurance premium it this instru- meot and the ~ote secured hereby arc insurtd, o~ a mo~thly char~e (in lieu ot • mortQage insuraace premium) it they ~re held by the Secretary ot Housin~t and Urban Development, as (ollowrs: (I) I[ and so long aa said note o( even date a~d thit instrument •re insured ot aro reinsured uAder th~ pcovisions o[ the Nationai Housiag Act, an amount sutticient to accumui~te ia the htads ot the holder oa~ (1) moath prior to its due date the ~nnua! mort¢age insurance premiwa, in order to pwvide auch holder with tuads to psy such prrwium to t6e Secreury of Housing and Urban Developmmt pu~suant to the N~tlonal Housia~ Act, as ~mended. ~ad •pptic~ble ReQu- lations ihereunder; or tll) If and so long as soid note of even dste and this iestrument are held by th~ Sectetaryr of Hou~inQ ~nd Urban Develop- ment, a monthty charge (in lieu a( a mort~aee i~surrece preminm) which shall be in an amount cqu~l to one-tael(lh (1 t2) o( one-half (s.i) per centum of the avera~e outst~ndin~ balaace due oe the note eomputed writhout takin~ iato account delinquenc~es ot prepaymenta; !ti1 A sum eqaa! to the ground reats, it any. next due, plus tde premiums th~t wili ne:t become due ard p~Ypble oa pollcies of fire and other hazard ~nsurance coverir?Q the mortga~ed ptoperty, plus t~:es ~nd asseauaents ne~tt due on the mort- gaged property (slt as est~mated by tAe mortgs~ee) less all sums ~lrcadp paid there[or divided by the number o[ months to Glapse before one month pr~or to the d~te wfien such eround rents, ptemiums, ta:es, aed assessments wrill Decome de- I~nquent, such sums to be held by mortgaeee u? tn~st to par said Qcound rents. premiums, ta~ces, andspecialossessments; +nd ~ +c / All payments ment~oned in the two precedit?Q subsectiops ot this paraQraph and all payments ta be mode under the note ~ secured herrby sha11 be added together and the aeereQate amount therco[ ahall be paid by the mort~a¢or each month ~n a t s~ngle payment to be ~pplied by the mortgagee to the [ollowrinQ items in the order set forth: ~ (I) premium chsrges under the contract of insuronce writ!? the Secret~ry o[ Housine and Urban Development, or eaonthly ~ charge (~n lieu ot mortgage insurance premium), as the case m~y be; t (lt) ground rents, taxea, assessments, tire, and other hazard insur~ace prcmiums; ~ (llp ir?terest on the note secured hereby; and t(V) amortuat~oo ot the principal o[ said note. i Any deficiency in the ar.wunt of such aggcegate monthly payment shall, unless made good by the mortgagor ~ prior to the due date of the next soch payment, constitute an event of defeult under this mortgage. The mortgagee may collect a"late charge" ~ot to exceed two cents (2~) for each dollar (S1) of eacb payment more than Eifteen R (15) days in anears to cover the extra expense involved in handli~g delinquent payments. ~ ~ 3. That if the total of the p~yments made by the mortgagoc under (6J ot paragraph 2 preceding shall exceed ~ the amount of payments actually made by the matgagee, for ground rents. taYes end essessments and i~surance ~ premiums, as the case may be. such excess shall be credited by the mortgagee on subsequent peyments to be ~ made by the mortgagor. lf, however, the monthly payments made by the moctgagor under (bJ ot paragraph 2 pre- r ceding shail not be sufficient to pay grwnd rents, taxes and assessm~~nts and insura~e premiums, as the case ~ may be, when the same shall became due a~d payable. then the mortgsgor shali pay to the moctgagee any amount - necessary to make up the deficiency, on a befae the date when payment of such gcouad rents, taxes, assessments, or insurance premiums shall be due. If at any time the moctgagor shalltender to the awrtgagee in accordance with 5 the provisions of ihe note stcured hereby, full payment of the entire indebtedness cepresented thereby. the mort- ~ gagee shall, in computing the amount of such indebtedness, credit to the account of the mortgagor all payments ~ made under the pro+~isions of (a) of paragreph 2 hereot which the mottgagee haa not become obligated to payto ~ tbe Secretary ot Nousing and Urban Development snd any bal~nce remaining in the funds eccumulated undec the provisions of !G) of said paragc~ph 2. !f there shali be a default under any of the pcovisio~s of this mortgpge, re- ' sulting in a public sale ot the preroises covered iereby, oc if the mortgagee acquires the propecty otherwise after ~ default, the matgagee shall apply. at the tirae of the cammencement of such proceedings or at the time the prop- ~ erty is othecwise acquired, the belance then remaining in the tunds accumulated under (GJ of paragreph 2 prtceding as a credit against tfie amount of principal then remaining unpaid undec said note and shall properlyadjust any ~ payments which shall have been made under (a) of said paragraph. ~ ~ 4. That he will pay all taxes, assessments, water rates, and othe~ governmental or municipal cfiarges, Eines, or ~mpositions, for which provision has not been made hereinbefote, and in deEeult thereof the mortgagee may pey ~ che same; and that he will promptly deliver the afEiciAl receipts theretor to the mortgagee. ~ ~ d~~~r . . s ~ ~ ~ ~ ~r . - ° ~ _ ~ _ _ y_ r._