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Home My WebLink About2196 t ~i~~1 ~?t,' i ; ~ : said mortgagor does hereby fully warrpnt the title to said land, and e~~ery part thereof, and will defrnd the same against the lawful claims of a!1 perso~s whomscever. ~ PROYIDED ALN'AYS, end these presents ace executed and delivered upon the following conditions. to wit: ~ The mortgagor agrees to pay the mortgagee, ot order. the principal sum of ~gg~ ' i HUNDR',~ AKD 110~100----•-•------•-•..••--•---•--------••••_--•-----~-------••--•-•--• ; Dollars (5111~$O~.Op as e~•idenced by a note of even date herewith, with inte~est from date at the ~ rate ot $eV+s~i pec centum ( 7 9G) pe~ annum on the urtpaid balance ~ until paid. The said principal and interest shall bQ payable at the otfice of J. T. $tO~sT't Hp~gllge ; Co~a~?, Ino., a aorporat3on under tbs lars of the Stat~ of 1F].orida. # or at such other ptace as the holder of the note may designate in writin~. ie monthly instellments oE ~~~y_~r ~ ~ 5?~1Qp~- Dollars (s ~ comrt~encing on ; the first day of $e~~~ . 19 n. and on the first d~y of each month thereaiter until the principal and i~terest are fully paid. except thet the final payment of ptincipal ~nd intereat. if not sooner paid. shall be due ~ and payable on the first day of A~~~ QQ~,, ' And shall duly, promptly~ pnd [utly pedo~m. discherge. execute. effect, complete, and comply with and abide ~ by each and every the stipulatians. ag~eements. conditions. and coveaants of said pranissory note and of this mortgage. then this mortgage and the estate hereby created shall cease end be null and void. . ~ ~ And the matgagor Eucther covenants as tollows: 1. That he wiU pay the indebtedness. as hereinbefore provided. Privilege is reserved to pay the debt in whole, ~ or in a~ amount equal to one a mae monihly payments on the principal that are next due on the note, on the first ~ da~ ot any month prior to maturity: Pro~•idrd, howeve~. thet written notice of en intention to exercise such privilege is given at least thicty (30) days ptior ta prepayment; and. provided further. that in the event the debt is paid in [uil prior to maturity and at that time it is insured under the provisions of the National Housing Act. he will pay to the mortgagee an adjusted premium charge of one per centum (196) of the original principal amount thereoE, except that in no event shall the adjusted premium exceed the aggregate amount ot premium chatges which would have been pa~able iE the mo~tgage had continued to be insuced until maturity; such payment to be applied by the mort- gagee upon its obligation to the Secretary of Housing and Utban Dovelopment on account of modgege insura~ce. 2. That. in order more fully to protect the security of this mo~tgage. the mo~tgagor. together with, and in addi- tion to. the monthly payments under ~the terms of the note secured hereby. on the ficst day of each a?onth until the said note is fully paid, will pay to the mottgagee the following sums: ~~+1 An amount su[f~cie~t to provide the hotder hereot with tunds to pay the ne:i morteaee insurance premium i[ this instru- ment and the note secured hereby are insu~ed, or a monthty charQe (in lieu ot a mortQage insurpnce premium) if they •re held by the Secretary of Housing and Urban Development, as tollows: (1) It rnd so lone •s said note ot even date and this instrumeat are insured or are reinsured uader the provisioas ot the National Housing Act. ~n amount sutficient to accumulate in the haads of the holde~ one (1) monih prior to its due date the annual mort¢~ge iasur~?ce premium, in order to provide such holder with funds to pay such premium to the Secretary ot Housing ~nd Utbaa Development purauant to the Natioaal HoutinQ Act, •s amended. and applicable ReQu- tat~ons thereunder, or (II) lf and so long ~s s~id eote o( even date and this instrument are held by the Secretary ot Housi~~ and Urban Develop- ment, a monthly charQe (in lieu of a mortQ~~e incurance premium) which shall be in an amount equal to one-twelfth (1; 12) ot one-halt (~i~) per centum ot the svera~e outstanding balance due on the note computed without takinQ into account delinquencies or prepayments; /l•/ A sum equal to the ground renta, t[ any, ae:t due, plus the prea?iums that arill next become due and payable on polieies of [ire and other hazard insura~ce covering the mortgaQed property, plus tases and oasessments nezt due on ihe mort- gaged property (ail as estimated by the mortgagee) less all sums already paid theretor dividtd by the num6er of months to elapse before one month prior to the date when such ground rents, premiums, ta:es, •~d ~ssesaments will become de- linquent, such sums to be hcid by mortgaQee in trust to pay said ground rents, premiums, tases, Rad special rssessments; ~ and ~ All payments mmtioned ?n the two preceding subsections o( this para~rrph and all payments to be made under the note i secured hereby shall be added together and the a~gregate omount thereof shalt be peid by t6e mortQaeor each month in ~ ; single payment to be applied by the mortQaQee to the follo~ring items in the order set tortb: ; premium charges under the coatract ot insurance with the Secretary ot HousinQ and Urban Development, or monthly ; charge (in lieu o( mortgage insurance premium), as the csse moy be; ~ (II) ground rents,'tazes, Assessmrnts, tire, and olher hazard insur~nce premiums; ~ (IIl) i~tereat on the note secured hercby; and (lY) amortisation ot the principal o( said note. Any deficiency in the ar~ount of such aggregate monthly payment shall, unless made good by the mortgagor prior to the due date of the next such payment, constitute an event d default under this mortgage. The mortgagee may collect a"late charge" not to exceed two cents (24) for each dollar (S1) of each payment moce than fiftee~ ~ (15) days in arrears to cover the extra expense involved in handling delinquent payments. 3. That if the tota! of the payments made by the mort~agor under (b) of paragcaph 2 preceding shall exceed ~ the amount of payments actually made by the matgagee, for g~ound rents, taxes and assessa~ents and insurance ~ premiums, as the case may be, such exceas shall be ccedited by the mortgagee on subsequent payments to be made by the moctgagor. If, however, the monthly payments made by the moctgagor under (6J of paragcaph 2 pce- ~ 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 matgsga shell pay to the moctgagee any amount ~ necessary to make up the def iciency, on or befae the date when payment of such ground rents, taxes. assessments, j ~ or insurance premiums shall be due. lE at any time the mortgagor shalltender to the modgegee in accordence with t the provisions of the note secuced hereby, (ull payment oE the entire indebtedness repcesented thereby, the mort- ~ =Y gagee shall, in computing the amount oE such indebtedness, credit to the account of the mortgagor all payments ` ft made under the Provisio:~s of (01 of paragFaph 2 hereof which the mortgagee hes not become obligated to payto ! ~ tbe Secretary ot Housing and Urban Development end any bel~nce remai~ing in the funds accumulated under the ~ pro~~isions of (G) of said paragraph 2. If there shall be e default under any of the provisio.~s of this mortgage, re- sulting in a public sale ot the premises covered ~ereby, ot if the mortgagee acquires the pcopecty otherwise aiter ~ default, the mortgagee shall apply, at the time of the commencement of such proceedings or at the time the prop- ~ ~ ecty is othenvise acquired, the balance then remaining in the funds accumulated under (6) of parag~aph 2 preceding i ~ as a credit against the amount ot princiPal then remaining unpaid under said note and shall properlyadjust any ~ ~ payments which shatl have been made under (o) oE said paragraph. ~ 4. That he will pay all taxes, assessments. weter rates, and other governmental or municipal charges, fines, ~ or impositions, for which provision has not been made heceinbefae, and in deteult thereof the mortgegee may pay the same; and that he will promptiy deliver the ofEicial ceceipts therefor to the mortgagee. ~ ~ ~ ~ s- ~i~ 21gi ~ ~ , ~ ; : Y. ~ ~ ~ ~ _ _,__s ~ ~ `~c+'r"^" .__..a.... . _ . . _