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Home My WebLink About2202 _ _ ~ ~ ~ s.ud mo~tgagor dors hereb~• (ully wa~~ant the IiUe to seid (and, and every part thereo(, and will defNnd the sbme I .+ga~nst the lawtul claims of ail pe~sons whumscevet. ~ + ~ . , PROVIDEO AL.NAYS. a~d these presents ace executed and detivered upon the Eollowing cooditions, to wit: The moctgago: agrees to pay the mortgag~, or ocdec, the principal sum of ~ g~ i1V+{iR~Y AiW iN/~\N~~~~~~~~~~~~~~~~~~~~~r°~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Uollars (S ly~$QQ~QO es e~•idenced by a note ot even date herewith, with intecest from date at the rate ot g~~p pe~ centum ( 7 !5) per annum oe~ the unpaid dalance until peid. The said princips~l and i~te~est shall bct payable ot the ofEice of ~j. T. gTE~Aj~1' ~dAdg ~0l~A1fY, III~CC., a aorporation und~r tb~ ls~s o! ths St~~s of l~'lorids or at such other place as the holder oE the note rtwy desig~ete in w~iting. io monthly installments o[ ~~y~ ~~?i ~/1~,~~~~~~~~~~~~•,~~~~~O~~a[S ~s~~~ COfiRIC1lClflg OQ the tirst dey ot $ept~~ , 19?j . and on the Eirst d~y of each month thereafter untll the principal ` and interest are fully paid, except that the fioal payment ot pcincipat and i~te~est. if not sooner paid. shall be due and payable on the first day o[ A 2~ And shall duly. pranptly. and Eully~wm, discherge, execute. effect. complete, and comply with e~ abide by each and every the stipulations. eg~eements. conditions, end covenants ot said promissory note and of this murtg~ge. then this mortgage and the estate he~eby cceated shall cease and be null and void. A~d the mwtgegor further covenants as follows: 1. That he wili pay the indebtedness, as hereinbeEoce provided. Privilege is resecved to pay the debt in whole, o~ ~n an amount equal to one or more monthly Payments on the principal that ace next due on the note. on the Eirst da5• o[ any month prior to maturity: Pro~•idrJ, however. that written notice of an intention to exercise such privilege is given at least thirty (30) days prior to prepayment; and. provided fudhec. thpt in the eve~t the debt is peid in full prior to maturity a~d at that time it is insuced uader the provisions of the National Nousing Act, he will pey .to the mortgagee an adjusted premium charge of one per centum (1~.) of the o~iginal princippl amount thereof, except that in no event shall the adjusted premium exceed the aggcegate amount oE p~emium charges which would have been payable if the matgage had continued to be insured u~til maturity; such payment to be applied by the mort- gagee upon its obligation to the Seccetary of Housing and Urban Development on account of modgage insurance. 2. That, in ocder more fully to protect the secu~ity of this mortgsge. the mortgaga, togethe~ with. and in.addi- tion to, the monthly peyments under the terms of the nate se:cuced heceby. on the fir~t day of each month until the said note is fully paid. will pay to the moctgegee the following sums: f~~l An amount su(tic~ent to providt the holdet heteot with funds to pay lde aeYl mort~oQe insurance premtum i[ this instru- ment and che note secared hereby are insured, o~ a monthl) chrr~e (tn tieu ot a moRea~e insuronce premium) it they ~re held by the Secretary of Housine and Urbsn Development, as Eollows: (1) i( and so long as said note ot evea date and thla inst~ume~t arc inawed or ~ce ceinsured under the pwvisiona of the rat?onal Housing Act, an ~mount sufficient to accumul~te in the hands ot t6e holder one (1) month prior to its due date the ana~at monea¢e insurance pcemium, it? order to provide such hoidet ~ritb [unds to pay ruch premium to the Secretary o[ Housiog ~ad Urban Development pursuant to the Nstioa~l Housia~ Aet. ~s amend~d. Rnd eppiicable ReQu- lations thereunder; o~ (11) If and so loog as said note of even date and this instruacent are held by the Secret~ry o[ Hous~ne p~d Urban Develop- ment, a monthly charge (in lieu of a morte~Qe insutance prcmium) wdich shall be ia an amount equal to one-t~relfth (1 ' 12) o[ one-h~![ (54) pe~ centum ot the average outstanding balance due oo the note computed without takin~ iato account delinquencies or prepayments; ~+:1 A sum equal to the ~round rents, it aor, next due, plus the premiums that wrill next become due and poqable on poticies ot [~re and ather hazard insuraace cove~ing the mortg~ged pwpertp, plus taxes ~nd assessments neYt due on the mort- gaged property (ali as estimated by the mortQagee) less all sums aiready paid there[or divided by ths number of months to elapse before one month prior to the date wfien such ~rround cents, premiums, ta:es, ~nd assessments will become de- l~nQuent, such sums to be held b~ moirtg~Qee in trust to pay said ~rrouad rents, premiums, t~=es, ~ad speciat asseasmeats; .nd ~r~ Atl payments mentioned ?n the two preceding :ubsections ot this paro~raph and all payments to be made under the note secured hereGy shal! be added to~ether and the aQg?eQate amount thereof shall be paid by the mort~a~or each month in a j single payment to be applied by the mortQa~ee to the (o1lo~rinQ iteees in We o~der set torth: ' (p premium charges under the contnct ot insurance with the Secrctary of Housine and Urbaa Development, or monthiy ~ charge (in lieu of mortQaQe insurance premium), os the case m~y be; ~ (II1 ground rents, taxes, •ssessments, tirc, and other h~s~rd insuraace premiums; F (lIl) intcrest on the aote secured hrreby; and (IV) amortuation ot the pris~cipal ot said note. ~ Any deficiency in the ar.~ount aE such aggregate monthly payment shall, unless made good by the mortgagor ~ prior to the due date of the next such payment, constitute en event oE default under this mortgege. The mortgagee ~ may collect a"late charge" not to exceed two cents (24) for each dollar (S1) of each payment more than fifteen ~ (15) days in arrears to cover t6e extra expense involved in handling delinquent payments. ~ ~ 3. That if the total of the peyments made by the mortgagor under (6) of pareg,~aph 2 preceding shall exceed ~ the amount of payments actuaUy made by the mortgagee. for g~ound rents. taxes and pssessments end insurance ~ premiums, as the case may be, such ~ excess sha11 be credited by the mortgagee on subsequent payments to be made by the mortgagor. If, however, the monthly payments made by the matgegor under (6) of paragcsph 2 pre- c~ding shall not be sutficient to pay ground rents, taxes and assessm.~nts and insurance premiums. as the case ~ may be, when the same shall becane due and peyable, then the matgsga slwll pay to the mottgagee any amou~t necessary to make up the deficiency, oe or befae the date when payment of such ground rents, texes. assessments, ' or insucance premiums shall be due. If at any time the mortgagor shalltender to the mortgagee in accordance with : the provisions of the note secured hereby, full payment of the entire indebtedness represented thercby, the mort- ~ gagee shall, in computing the amount of such indebtedness, credit to the account of the mortgagor ell payments ; made under the provisians of (o) oE paragcaph 2 hereaf ~rhich the mortgagee haa not become obligated to peyto ~ tbe Secretary of Housing and Ucbaa Development and any belance remaining in the funda accumulated under the ~ provisions of /b) of said paragraph 2. lf there shall be a defeult under eny of the provisioas oE this mortg,age, re- ~ snlt~ng in a public sate ot the premises covered iereby, a iE the mortgegee acquires the property othecw~se after default, the matgagee shall apply, at the tirne of the commencemeM of such p~oceedings or at the time the prop- ~ erty is otherwise acqu~red.the balance then remaioing in the funds accumuleted under (bl of pacagraph 2 preceding ~ as a credit against the amaunt oE pcincipal then remaining unpaid under said note and shaU properlyedjust any ~ payments whieh shall have been made under (01 ~ said paragraph. ~ 4. That he will pay all taxes, assessments, water rates. and other governmental or mur.icipal chatges, fi~es, ~ or impositions, for which Provision has not been made hereinbefae, and in default thereof the mottgagee m~y pay the same; and that he will promptly deliver the dficial teceipts thereEot to the mottgpgee. ~ R . ' ~ ~~192 zi97 ~ - . ~ ~ ~ . . . ~~s , _ d°' 1 w..~