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Home My WebLink About1311 ~•.~u'. r~~~rt~;.~~~,ur ilv~~. h~•rr6~ f:ill~ ~~~~rr.~nt ;he title to ;,iid land, und e~rr~ part Ihereui, and ~~~~I1 delrnc~ the ti,u~r .~~;.un~t t:;e !:~~eiul cl~~ms uI all periuns ti~h~mticx~~er. Pf10~'IDED ALUAI'S, and these presents are executed and deli~~ered upon the lollowing conditions, to wit: '1'he murtgaKo~ agrres to pa}~ the mortg~~gee, ur order, the principal sum of Sb'NENrEEN THOUSAND FCX)R iiUt.DRED A.~ID tJ0/100-------- ~ Uuitc~rs iS 17,400.00 j, as e~idenced b~• a note uf e~•en date hhrew~ith, with interest from date at the j r.~te u[ seven per centum ( 7;) per annum on the unpaid balance ~ ~ntil pdid. The said princip.il and ~nterest shall be pa~•able at the of[ice of J. T. STES4ART r10RTGAGE CO.iPANY, INC. , Sliite 300 - 100 2•iiracle r:ile, Coral Gai~les, Florida , ur at such other place .~s the holder oi the note ma~• designate in writing, in monthly installments of One :i,u~dred Fifteen and 88/100---~---------- Dollars (S 11~.88 comn~encing on t1~e lirst da~ o( I3over.il~er . 19 71 , and on the first da~~ of each month the~eafter untiltheprincipat c+nd ~nterest are full~~ paid, except that the tinal payment of princ~pal and interest, it not souner pa~d, shall be due ~nd paS~abie on the ficst day of Octoi~er 2001 And shall dul)', promptl~•, and full~• pecform, discharge, erecute, effect, complete, and comply with and abide bt each and e~~er~~ the stip~Iat~ons, agreements, conditions, and co~~enants of said promissory nute and of this murtK.~~e, then th~s mortgage and the estate hereb~~ cre~ted shall cease and be nul( and ~•oid. And the mortg:~gor further co~•enants as (oltow•s: 1. That he itl pa~• the indebtedness, as hereinbetore pro~•ided. Privilege is resen~ed to pa~~ the debt in whole, _ ~~r ~n an amuunt equa! to one or more monthly pa~~ments on the principal that are next due on the note, on the (irst ~ da~ of an~• munth prior to maturit}•: Pn,~,J~ d. hoWe~•er, that written notice of an sntention to exercise such pri~~ilege - 3 ~s ~~~en at least thtrty (30) da~s prior to prepayment; and, provided further, that en the e~•ent the debt ~s paid in ~ fu11 prior tu maturit~~ and at that Ume it is insured under the prot~isions of the National Housing Act, he uili pay to ~ the mortKugee an adjusted premium charge of one per centum (la.) ot the original principal amount thereof, except ; th~t in no e~~ent shall the adjusted premium exceed the ap~regate amount of premium charges which would ha~~e = been pa~~able if the martgage had continued to be insured until maturity; such payment to be applied b}• the mort- ~ " gaKee upon ?ts obligation to the Secretarp of Nousing and Urban De~•elopment on account of mortgage insurance. ~ ; That, in order more fullt• to protect the securit~• of this mortgage, the mortgagor, together with, and in addi- ' uon to, the munthl~ payments under the terms of the note secured hereby, on the fitst day of each month until the ~a~d note is full~• pc.id, u•ill pa~ to the mortgagee the following s~ms: - An ~~^..,ur.t sulficirnt to pro~•ide thr h~~ldrr hrreof u~~th (unds to pay thr next mortgage u~+urance premwrn if this instru- mc~nt andthr notr s~currd hrrrb~ arr in~ure.i. ~~r e munthly charge (in liru o( a mortgage insurance prrmwm) i[ they- are ~ hrld h~ thc Serrrtar~ ot Ilou~tnK and Urban APCrl.~pment, as follows: ? ~I i tl .~nd so lonK as sa~d note uf e~•rn d~te and this instrument are insurrd or are retnsured under the pro~•isions of thr \..ti~nal H~~usinR Act. an ame,unt suf(icirnt to arrumulate in thr hands ot the holder one (11 r.:onth prior to rts due .i..tr thr anncal r,:ori~age insurdncr prem~um, in ordrr tu pro~•ide surh holdrr w~th [unds to pay suchprrmtum to the = Sr:~rtar~ -.~f H~•usin~; and Lrb..n Drceto,ment pursuant tu the Nahonal Housing A:t. as ar.:endrd, and apptica6le Regu- :erions thrre•under, ~~r - ~ II ~ 11 and su l~~ng as sa~d n~~;e ~f e•vrn d~tr and thes ~nswment are held bq the Secretary of flousing an~ Urban Deve:op- ~ r. ~~nt. ~ rr.:~nthl~ . harKe ~:n itcu of a rnortgagr ~nsurance prem~uml which shall be ~n ~n amount equal tu onz-twrlfth " il 1_~ „1 onr-ha:( i~.l ,~rr centum ot the avera~e outstanding Gatance Aue on thr nute computed rsuhout taking ?nto arr~~:int drlanyurnc~rs or prrpaymrnts, A~u^. rGuel thr kround rents, any. neat due, plus the prr~:iur.:s that wfll next become due and payabte on poliries t f3r.• .,nd ~~thrr harard insurance covenn~ the ^.urtgagrd property, plas taxes and assessments next due un the mort- r; ,~.,~;r~! pr~~p~~rtc ~atl as rstimatcd h~ thr mortgagrri lrss all sums alr~~ady pa~d therefor dirided b~ the number of months - to riep>r bc•fore .~ne .^.:unth pnor to the date when such ground rents, premiums, taxes, and assessmentc ~v~ll become de- Iinqurnt, su.h sur.:s to br hrld by mortg+gee in trust to pay sa~d gruund renis, prrmaums, taxes, andspectalassessmer.ts, `i ..n~1 AI: ~~d~'R:t':1(5 r.;ent~.~n.•d in !he IK'G precedtr.g subsrct~ons uf this paraKreph and all pay~me~ts t« be v:ade under the note sr~ urrd hrrnc~ +hel! br addrd tu~rther and the aggregate emount thereof shatl be paid by the mortg~gor each month ~n a i +in~•lr ya~~-.rnt t~~ br applird A~ ihe r..ortgagre to Ihr ~JIIJ\kIRK items in the order set (orth: ~ 1) ~~rc•;r.w^~ . harFes under thr . c~ntract of ~nsurancr w•~ih the 5ecrrter}' of Noustng and Urban De~•elu~mrnt, or mon:hi~ . harKr i~n l~ru of r..ezrtKa~;r insurance p:emiur.:l, as the case ma} be, =r ~I11 ~round rrnts, taxrs, assrssmrn[s, f~rr. and other hazard tnsurancr prrmiums; tll1~ antrrrst ~n the n.~te secured hereb~~; and - U\'1 a~:urtizat~.m u( the pr~nc?pal of said nute. ~ Ant• deficienc~• ~n the ar~ount of such aggregate monthty payment shall, unless made good b}' the mortgagor ' pnor to the due date oi the next such pa}~meni, constitute an e~~ent of default under this mert~age. The mortRa~ee ' =x rna~ coltect a"late charKe" not to exceed tw•o cents (?E) for each dollar (S1) o( each papment more than fifteen = tl~) da~s in arrear~ to co~•er the extra exQensc in~~ol~•ed ?n handlsnq deiinquent payments.~ ' 3. That if the toSal of the p:iyments made by the mortgagor under (j~l of paragraph 2 preceding shall exceed - the amount oE pa~ments actuali~• r.a:de by the mortKagee, for ground rents, taxes and assessments and insurance ya~m~ums, as the c:,se ma~• be, such e~cess shail be credited b~~ the mortgagee on subsequent pa}•ments to be - made b~~ the mortKaKor. If, hovrce~•er, the monthl~• pa}•ments made by the mortgagor undet /F.) of paragraph 2 pre- t _ ceding .hall r.ot be sufficient to pay gruund rents. taxes and assessm~•nts and ~nsurance premiums, as the case ~y Te~ be, w hen the same shail become due and pa}~able, then the mortg;:gar shall pa~• to the mortgagee any amount E = necessar~~ to make up the def u~enc~~. on or before the date w•hen pa}~ment of such ground rents, taxes, assessments. ; - ur insurance premium~ shall be due. If ~t an}~ time the mortgagor shalitender to the moctgagee in accotdance with 3 the pr~~~ ~siuns of the ne~te securcd hereby, futl pati~ment of the entire indebtedness represented thereb}•, the mort- - ~aKe~e shall, in camputinR the amount of such indebtedness, credit to the aecount of the mortgagor al! pa}'ments ' - T~,cie~ under the pro~~is~ons of rui of paragraph 2 hereof which the mortgagee has not become obligated to payto the Secretar~• of Hvus?nK ~~nd Urban Deceiopment and an~~ oaiance rematn~ng in the funds accumuiated under the pr~~~ :~i.~ns uf i'~ ~ of sa~d p~ra~raph 2. If there shall be a defautt under any~ of the prov~sio~s of th~s mortgage. re- tiultinK ?n a publu sa~e uf the premises co~~ered iereby. or if the mortgag=e acqu~res the property otherw•ise after def~ult. the mur2~agee shatl apply, at the t~me o( the commencement o( such proceedings or at the t~me the prop- erh ti~ ~,therw ise acquued, the baiance then remaining ~n the funds accumulated under ~ of paragraph 2 precedeng - :a~ a crcd~t aga~nst the amuunt of princ~pal then rema~n~ng unpa~d under said note and shaU ptoperl}'adjust an}~ ~ pa~ments ti•h~ch shali ha~•e been made under rul of said paragraph. a That he will all taxes, a~sessmer.ts, water rates, and other go~•ernmental ur munic~pal charges, fines, i : ur ir.:pos~tt~~ns, for w~ch proti~?sion has not been r*ade hereinbefore, and ~n default thereof the mortgagee may pa~• ±h~~ ~.,mr. :+r~d th.~t he .+•il] prumptt~• del~~er the oftic~a( receipts thetefor to the mortgagee. _ ~ ~ ~.y6 ~13ii ± eaoK _ :