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Home My WebLink About0437 said ~atgago~ doas he~eby fuli~• wacrant the title to said land, and ever~• P;rt thereo(, and will de[end the same ag~inst the law[ul claims of al! persons whomscever. - PROVIDED A1..VIlAYS. a~d these presents xre executed end delive~ed upon the foltowing conditions. to ~rit: The mortgagor agcees to pay the moctgagee, ot o~de~, the princiE el sum of BIZTSEI~ TBOU~SAItD T~B ~tniDltED AIiD 11~0/~40--~----_----------------_ Dolla~s (S~g~$QQ~QQ as evidenced by a note of even date fiecewith. with interest from date et the rate ot ~~?en " pec centum ( ? x.) per annum oo the unpaid balancr until peid_ The said p~incipal and interest sha11 be payable at the ofEice of J~ T~ STBwA~T 1[atTGAGB COi~ 1R~ Il1~C~, 100 l[iracle Yile, Qor~l Gsblee~ Florida, 33~3~ a at such other place es the holder o~ ih rt e rtwy designate in writ' n thly instatlments of OIIe SYRdred e3gtit and 3sf`10~-----~ Dollars ~S Y~'~ commencing o:i the first day of $~t~r . 1971 , and on the fi~st da~ of each month theceafte~ u.ntil the principa! and intecest are fully paid. except thet the final oaya:ent of rinciRal and interest, if not soonec peid, shall be duc• and payable on the tirst day ot ~Zlg'iiBt~ A~D~ Z00~~ • And shall duly, prompt(y, and fully perfocm, discharge. execute, eEfect, complete, and comply with and abide by each and every the stipul9tions. aQreemeats. canditions, and cavenants of sa~d pranisaory note ond of this mortgaee, then this morigage and the estate hereby created shal! cease and be null and void. A..a the mortgagor [ucther covenants es follovrs: 1- That he will pay the indebtedness, as hereinbe[oce provided. P~ivitege is reserved to pay the debt in whole. oc ~n an amount equal to one a more ~nonthly pa}ments on the principal th~t a~e ~ext due on the note. on t1~e firs~ day of any month prtor to maturity: P~ui-idrd, however, that writte~ notice of en intention to exercise such privilege ~s given at least thirty (30) days pria to prepayment; and, provided furthe~, that in the event the debt is paid in full prior to matucity and at that tcme it is irtsureei undet the protisiaes of ihe National Housing Act, he will pay te the moctgagee an adjusted premium charge of one pei centum (1 of the original principal amount therr.of, e:~ept that in no event shall the adjusted premium excc~i the aggcegate amount of premium charges which would hazr been payable if the anoctgage had continued to be insured until maturity; such pa~•ment to be apptied by the eiort- gagee upon its obl~gation to the Secretary of Housiag and Ucban Oeveloponent on account of mortgage insurance. 2. That, in order more fully to protect the security of this mortgage, the modgagot, together wit6, and in addi tioa to, the monthly payments under the terms of the note srcuced hereby, on the [irst day of each month until th~~ said note is tully paid, vri11 pa~~ to the mortgagee the following sums: f~~i An amount sutt~cient to pro~~de tho Rolder hereoi w~th lunds to pay the nett mort~aee insursace prca:iua: if this instru- mcnt wndthe aote eecured hereby are insored, or a munthiy c:?~ree (in tieu o! a mortgage insur~nce premium) it they •re held by the Cecretary ot tiousinR artd Urban Dcvelopmeot, as [ollors: q) i[ ¦nd so IonR ss ssi~ nete o[ even da!e and tA:s instrcment are ~nsared ar are reinsured under the p~ovisions o[ tae i~ialional Ho~s?ng Act, an amount auf!icieni to accumulate ia the hands o( the holdn one (i) month prior to its d~e date the aZnua[ mortgage ~nsutance premium, ~a order to prov~de such holda with funds to pay wcbpremium to th. Sccretary o( Hous~ng ~nd Urflan DeveloQmmi pursu~nt to the N~tion~l Noasing Act. •s •menAed, and appticaMe ReQu- iatiuns theseund•r, or (II) If and so lang as saad nute of e~•en date ~nd this instrument are held by the Sreret~ry o( Houaine ~nd Urb~n Develup- ment, a montfily charge (?n i~eu of s mortgagc insura~cE premium) ~rhich •haU be in an saiount cQu~l to ooe-twelfth ' i 1• 121 oi one-halt t!5) per centum of the average oatstandinQ baLece due on the t?ote coeputed vithout taki~Q ~nte ~ accoua2 dei~nguenc~es or prepa~•rr.ents, ! A sum eq~~! to tre ground reats, ~f •ny, r.e:t due, p(us the premi~ms thst will nezt becoc:e due and pay~ble on poLcies ' ot tire and o~her ha:rrd ~nau~ance cove~~ng th~ nort,,.ged property, p(us taxes and ~ssessmenls nett due oa tAe rnort- I Ra6~d p?operty ~all~as esum~ted,by the ci~xtgagerl Ieas all suna atrrady peid there(or di~•ided by the nunber of months iu elapse belo~ one month pnor to the drte when such ~aund r~nts, premiums, t~zes, •nd assessmeets ~ritl become de- t~nquent, sucA sums to be held by mort~rgee ~n lrust to p~y sa~d ground rcnts, premiulns, tases, •ad speci~l asseasmee~ta, i ~~i Al! p~~r..rnts ment~oned in the t~ro prcceding subsecfions o( th~a p~ra~aph and •IS p~~ments to be made under the note ! ' securcd hrcrby :hatl be added together and the sg~regate •moun: Iherrof shat~ ~e p~id by the mort~a~or eacL month in a ~ s~n;~ie pay~ent to bt appited by the mortQagte to the toUowmg itema in the order set [orth: (I) p~emium c1~+rQes under the contract ot ~nsurance w~i!h the Secret~ry of H~as~ng and l;rban Develapment, or monthl> charge (~n lieu o( mortgage insurance premiuml, as the c~ae may be; UI: ground rents, t~xes, asseasments, fire, and other huard insurance prem?ums; (111) ~Merest on ~hr note secured herebp; and (1~7 +RUrtu~hon o( the priacipal of ss~3 oote_ Any deEicienc~~ in the anount of such aggcegate monihly peymeat shall, unies4 made good by the matgagor prior to the ~'~e date uf the r~ext such payment, cor?stitute an event af deEault under this mortgage. The moctgagee may collect a"{ate charge" not to exceed two cents (2¢) far each dollar (il? of eac6 peyment mare than fifteen l15) days in arrears to cover the extra expense ~nvotved in handling delinquent payments. ~ 3. That if the total of the aa~•ments made b}• the modgagoc under (b) of paragraph 2 preceding shell exceed the a~ount oE payments actually made by the murtgagee, Eor ground tents, taxes and asstssroents and insutence ~ prert:iums, as the case may be, such exceas shall be credited by the mortgagee on subsequent payments io bc :~ade by the mo:tgagor. [f, however, the monthly payments made by the mortgegor under (b} of paragraph 2 pre- ~ ceding shall not be sufticient to pay ground rPnts, taxes and assessm~rnts aod insutance premiums, as the case may be, ahen the same shall become due and peyable, then the mortgsga sball pay to the a~octgagee eny amount r~ecessary to make up the def iciency, on or be.are the date a~hea payment of such grourd rents, taxes, assessments. ~ or in'surance premiums shall be due_ If at arty tim~ the mortgagor shall te~der to the mortgagee in accadance with ' the provisions of the note secured hereby, full naymcnt of the entire indebtedness represented thereby, the mort- ~ qagee shatl, in computing the amon~t oi such indeb!edness, credit to the account of the mortgagor alt payments maae under the provisions of (a) of paragreph 2 hereof which the mortgagee has not become obiig9ted to pay tu ~ t'±e Secretary of HoUSing and Urban Development end any balance rewaining. in the fureds accumulated under th~~ ~ provisions ~f (?,j of said paragraph 2_ If thete shali be a default unde~ any d the provisions of tt:is mortgage. re- ~ sutting in a pnbfic sale of the premises covered iereby, oc i[ the mottgagee acquices the propecty othervrise after B g pp;y, at the tia~e o( the comaeencemeM of such ~ deCault, the mort a ee sha:l a pcaceedings ar at thE time the grop- w eRy is otherwise acquired, ihe balance then remaining io the funds aecnmulated unde~ jhj of paragraph 2 preceding as a credit against the amount of principel then remaining unpaid under said note and shall propetlyedjust eny~ ~ payments which shall have been made under (aj of said patagraph. ~ 4. That he will pay aU taxes, assessments, water rates, a:~d other o~•ernmental a munici 1 c6ar g pa ges,fines. or impositions, fot which provision has not been made hereinbefae, and in defealt thereoE the mortgagee may pay ~ the same; a~d that he will promptly deliver the officia! receipts therefor to the mortgagee. ~ ~ g~~K 194 437 ~ ~ - - - - - _ - - . - _ . _ . - - _ _ ~