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HomeMy WebLinkAbout2201 . . ic . . ?t•. .:c•. t...~\ 'A.IC..~.^.t ,~tt' l~ ...~:1~ ..~t;(1. al;~~ t'lc`(`, i!.~Tt ~hc'iC"~~. '~.CI:. . . ~ ~ . ;Q'~t".. .~c' .n t• .._.~.'t.,i ,it~• ...~i;.._ .~1 .~11 ~x•r~u.:. ~~...,...~.x',r,. I~F~'(1\'l[~t-:[~ :~l.i~At'ti. .~nd t;~•s~ pr~•s~~nt. ,ur r~c~, u!~~;i .,nd cic•ii~rred upun t?u• l~~it»ti~~n~; coziditi~::~~, tv ~a~t: :~:,~rt~,.,~;:,r :~F,r~•~•~ t,~ i~..~ ta~ .~~d~•r. tti~• pria~it.;l .~t SfiVENTEEN THOUSAND and 00/I00 :1•~::••[~ tj 17~~QQ.QQ 1. .=a t•~i.:r~7ic-d b~ ^u~c` uf rtt~n G~a:t• ht`[r~.clth ttlCh i,^.(i•tr~t f[um ..~..ir ,a1 !':r r.,tr ~•f S~V~ p~r crntum t --7-- ~;~>~r ;,nnum on thr~ URF?:Ilij t>a:~~nre ~nti; E~.,~d. The ;;.id p~:vtc:r~,~l ~nd ~nten~st sha;l bc• pa}.+ble at the ottice oi ~ZCO M~RTGAGE CORPORATION ; P. 0. Box 3131, Miami, Florida 33101 ; :.~t ~u. ii ~~thrr ~:;,,~-e thr r.,i.;rr ~~f t1u~ r.otr .^.,~.t UcstRna:e in ~cntink, ?n montht~ instalIment: uf One hundred Chirteen and 22/100------------------------D~~i;~rs ~j 1I3.22 c~mu,en. c~iK c~n ` tii~• tir;t d.+~ ~f Deeember , ly 71 . and un the 2?rsi u~c u! each mon:h thereafter until the pr~ncipal ~ .,;~~3 ~ntrrr;t ;,cr tull~• p~+id, rxcr~t th.,t thc lu~~l oe~ment of Frinc~pal and int~rrst, if not souner p~~id. ~h~:il br due .,:i<2 F~.et.~blr un the f~rst d<~t .~i November, 2001. _ :~rti ~h~.i; duh, prumpth, and tuitc pertozm. d~schargc, execute. eEfect, comulete. ,~nd rumpl~~ w•~ih end ab;de ~.,ch ;~nd r~c•c~ th~ st~pUlations. ;iKceemc•nt~, conditsons, ~nd co~•enants of said ptom?ssor~• n.itz and of this c-..~;t:,+~;e, thrr. this R:~~rt,;,~~,e ,+nd the c~state hrrrbt ~ reated sh.~ll ccase a~d be nuil and ~vid. :~nd thr r.:ottKa~;ur turthe: co~en.int~ a~ fall~~+~s; 1. That he wiil p<~~ the ~ndebtedness, as here?nbefore pru~~ide~. Privile~e is resen•ed to pa~~ "tne debt ~n K~hole. ~•r ;n :+n .,mouni equc~i to une or c?ere m<~nthli ~}a~ ~en;s an the princig~l thai .,re n~~zt due an t~e note, on the first .int month pt~or to matunh : i'.-~ howe~•er. that w•ritten notice of an ~nte^tion tu eaerc~se such privilege ~i~rn at iea~t thirt~• (30~ da~~ prior to pr•:;k~~Tent: and. pro~ided fu:ther, th~t in the e~ent the drbt is paid in t;:if pn.~r t~ a.,.~tucih and a! that t~cr:c• ~t in.ur~d un3er the [~ro~ ~s~uns of the \at?onai tious~ng Act, he will pa~~ tu ~ ti:r ^~,~rt~;,~~ec• :in .,d~usted premiu;r, char~~• ~~f anr pc~r centum (1` i of the uriginal pzinci~~l amuunt thereof, except t~„:t ert n~~ r:ent ~h~+ll thc° ~:~iiu~tc~d pre^ium e~~eed the a~rrg~te ~mounl ot premtum charge~ t~~hich w•ould ha~•e h~~rn pa~,~~lc ~f thc~ rnortRa~e had cc~ntinurd to be insured until maturit~; such Fa~•ment to be applied b~~ thz mort- ~ Re~;ee up~n ~ts obliKation to the Secretar~~ of Housinj~ and Urban Development on account of mortgage insurance. n -~~i.it. m.~rc?er m:fre futl~• to protect thr securit~ o( this mort~~,Ke, the mortgagor, together «•?th, and cn addt- ~i~~n t..~. t~r r~~~:thl~ p~~~rr~c•nts under thc~ terms of the note secured herebti. on ihe first da~• of each mont;~ u~t~i the ~:,~c? n.~tr ~s fu;:ti r~.+id, w~~il p.+t te thr murt~,aKee the fotto~•in~ surns: _ .,~t ~..tti, u•n• < ,.~dr :iir h ':,+.rr }:crr.~t ~c:th f.:~:is tu pac th. ni~xt ...UiL~4FC lllStitd(lit• ~tiP.^.T11T. t`.:is in:;.•u- e~nt , ad the• n,:!r ~-urr.'. hrr~~ht ,,rr in~~.:rr,.. ~~r a..~..nth;~ : nnrRC• ~in :tru z,f a^~.ortkak~~ ~nsurencr prrr.:cuml [F thec are :,i i. i,~.n t..r~ ,f }i, u.:r,.~ a::d l'rhan Drtci,~l~r..rnt. f.;llow±. I!! I::i~ ~o3ci n•tr ct ~~~rn ~iair ~n.; ttii: icistrur.:rnt arr :nsurrd or are retnsurrd under the pro~•isiuns ~~f the = X,~*.: ~r.al H~~~<in~ Art. an am,.unt tiu[firirnt arc,.r.:ulatr in thr hends o( the holder ~.+ne (1) T.onth ~ui.,r to tts due ;~~r .,n:;,:e; ~,rIFaFr :ri~;:r.~n.~ ~rrr..iu~r, in .:n+.~•r pr.~•:~.3r surh h:1Set wtth tunds to pa~' su~hprrr..iu.^.~ tu the _ ~a~, re !.,r~ ~ H~~.inti and Cri,dn [)~•c~•~.,~:^-.~•tit p:sr-.uar.t thr \at~vna: Nvu~:a~; A:: as er.:rr.ded. and ~pp:i, ab!e R~•~;~- ..~t~ •n~ !r,.~re•~.si;irr, ,~r - 11 ?t ar~.i :.,q~ a. ;,.•t~ t.,. n 3.aTr azid !ni~ :n.truirxnt arr hrld b~' th~ ircreta~v ~f ti.»sinK .+nd U:bdr. De~ri-:P- . r.t. n;::i~ . har~e iin iiru .~f ~...;~r!~;n~e• in5uranrr ~ r~•rr.i::tr:. xhi. n shali be in an ar.uunt c•yua; t.~ .,r.r-twc~if:h Y ' £ I_'~ ~J ~.,nc•-hatf ~'_1 pa•r re•ntu- :~t thr e:rre~;r ,:ut~tandin~; l~elanir dur .>n lhr nutr rvr.:puti~d •.+ith~ut taking int.: ~ a.. ~e~nt Srlmyur:e. u~s or ~rrpn::ni•nt., _ ' a.u•r ry;;d( thr tiru;isid rrnt., :t d:i~. na xt Sur, piu~ the prrr.sur..s that •.~ii: next brc:•r.~c• d~c arid pa~able un ~o:icirs t hr.• .~nd u[hcr hatdrd i;sur~nc.• .~~~~nnh [}:c C._f2+;a~;r(} pr~~pe:tc. pius t~xes a:nl assrss^rr.:~ nrxt due r:n the rr.ort- ...Fr,.i ;~r,,prrt: a. r.,~r..atrd h~ !n~- r. ,rteFrc•~ :r.s o:i su^,s e!r~~adt paid therrt iln~drd t,c thr nu~r.her „f munth~ _ r:a•..o ~-~t'L.,rt'' nr ° .,:~th rl~[ rh ~ , p r e1y.r .cher. ~:.rh F7. U:d rrnt.. prrcr.i•~^.s t~ars. end assr.s^,rnts a~?[ br~;,:^r de- - t:a:~.:.•nt. suct, . ,o hr hr;~ 'v~ :':.a~rr• irusi ;;ey ~a~.'. Kr.•und re-r.t5. prrn.~uc,.. :ases. end ~peeta:assrs.r..cnts, .,...i : a;i ~ d~c ..rnti ~.i in thc ;~n~. prc•, rdinR subsrct:un~ ,.f this par~Kraph and a:: T~a~::~r ;t: hr r.a.te under thr n•,~te _ ~c~. .,rr.: z~ r< t~: >hd;! hr addrd t.s~rfhrr ar~u the a; Rre~;a!r vc.,~unt thrzr.a( s^e;i br peid b~ the c.~rtrew..,r t~aC}~ :r.~nth ~n a = .in... , rr.t t he .rd b~ thr r*.K.~~rc thr fo..:~.c~nz ite^:5 :r. ~ , thr ~nier set th , 1- r:r~ c ~:.r. rher~e~ un.lc~r thr rr.ntra. t :r.suran. ~~.~:tn [hr ~r~ rrtarc of !1 ~,.si~K an~'. l rh~n D~•.r; •E,~.r^!. :,r c.v::th:~ _ , :ear*:~ ::r. I~ru vt ^~c rtF.+~;c~ ~n~ur~n. r ~remi~:r, ws ~ne• ~ ese .^.:ay 4,e; _ ..1~~ A!~~U:i.~ ft"1~1. (J\t'~, d~~t'~1~'~.t'~1(S. ~1Ct~. A!~ij ';7f'T }:AIA.'~j 1.'ISufOT1lC F`(t':.^.Ill^'.S, _ ~IIIi ~n;r:~~~t on !he n:~er srcurrd hrreh~~, and ~ - IV'~ ~~r,:r~t~~~n .~f th[~ prin. i~~a; ~t :sid n:~tr -1n~ d~~tu irnct ~n thc~ a-n~nt of such .ti~rr};<,te r.-~~ninit~ pa)'ment shalt. unicsi r-ade K~~d bt the :roctKe~or p:i.~r tc~ ?hr due c+.,atr of the r.t~~? such ~~a~r.•.ent, cc~n.trtute ,~n e~rnt of def~,ult under ti~ts mortK,~~;~~ The mi~r,~.~~,c~e ....t cul;cct a' 9~,!~~ cher,r" not [u exceed :tru cents !?C) fc~t earh ti~~?at tjI~i ut ract* pat^~enf ~:urc~ ih<~n fitiee*t = +1~~ de~: :n ~,rre.,rs tc~ c~~er thr c•.r•!ra rxpensc• in~ul~•c•d :n h~ndiinx delinquent pati;rrnts 3 Thnt if thr tt~i~~t ut tnc• p.~ements m.ide bt the murtKagor under ij-~ of peragraph 2 precedin~ shall exc:•ed ~7~~ ,+m<>unt uf p~,~•ments actu~ll~ m~de bv the mcxtgagee, for ground rents. t~xes and a~sessments ~nd insurance ~ - prr:r~u^:~ the r,+se ma~ be, such ~xcess shail be cred~ted bt the mor!gagee on subsequent patmen!s tv be ^..+d~° h~ th~~ mur?~;a~~~r. lf. hnue\"E'i, ttlt' monthlt~ papmen:s made b~ the moriga~or under ~F i of para~raph Z pre- ' ~~~•L;ci~ ~hai! nut he ~uff~c:~•nt t~, pa~• ~round rents, t.ixes and assessmrnts and ~nsurance premtttrrs, as ti2e case _ ^:.,5 be•, =.ttzr•n ;7e~ ;.~.~:e ~hall ~ec-<~me due and pa}~~~le, then the mortg~gvr sha11 p~~-to the r~ortg~~;ee a~~ ~muunt n~~crs~art t_~ T:~~i:c~ up the d~ficienc~,c,n or before the date when pa~ment of such ~r~~nd rents, tax~s.~ssessr.~ent~, ~ " ~-,r ::r.~nc~• ~~re-:iu^~~ .ha:t he due. lE .~t en~ ti-;r ,he m~~rtK„Kor tiiialltendc~r to ttie ~r.ortgagee tn .,ccordance Ktth ° ~.t,,n~ ~~t ti;e n~~te <<~cu~f•d hc~rebc fui; p~~rr.er.t of the ent?r~ ;nci.ebte~ne~sc rrpresented thereb~ , the m~~;!- { ~.,k~e•~• ~f:<+i'. :n re~~nutmK the ar^uunt uf suc h iR~PbfPClit•ss. cred~i to the acc~~-~unt of the mortga~pr a!1 ps,}men?s _ :r.+.t~~ u~der the ~~r~~~•~siuns ,~t ~.~f par,~kcaph ? herevf w•h~ch the m~:rtgaKee '~a~ not become obliKated to pat~to = t~c° Se•, rc•t,~r~, ~~t H~.~us;nR .and Urban Urtelopr^rnt and ~n~~ baianct~ rr,;,;,in:nk ?n the fund~ accumu:ated ~~ndcr the - {~r••'.i~i•~r.. :~t ~~~t ,.~~r. ;~.u,,~ra~h If thcre shaii be• a deEa~lt uadet an~ ~~f the pro~~isto~s o( this mottgaKe, re- tn E.ubiir ~~i~~ ,~t ;hr F~tr^~:t:c~s rt~~e:ec: ~er~~b~, ~.x ~t .he r,:ort~;aKee acquires the property uthc•ru~~se ~fter = e?~~t,~:.:t. e;~r~ rrortKaKee~ ~ha11 „~pi~, :at th~ t~me ~~f th~• c•o^:mt~ncemenf ut such proceed~n~;s or at the t~me the prop- rrt~. .~t*rncise acqu:rrd. ;hn c~.;,,ner ther, re:~eintinK ~n the fund~ ;iccumulutrd under ~ of parakr;,ph ~}aeredtn~ ~ ~r~•dit ,,K;~in~t the .+:r.~~nt uf E~r;nsi~l then rc•m:~~r.in~ ~np~id under s~id notc ~nd ~hell propert~ ~diust an~• ;.~~~~c~n!~ ~.~nich ~h.~tl ha~e been madc uader ~i ~ ~~f ~atd pare~raph. a. ~~h.~t he k~il pat c+ll :;,xet .,.se~s.r.rntti. udter rates, ~nd other R~~.~ernment.~t ~~r mc;n~rtE~~l charRes. f~nes. .~r ~cE~~~`~ti.~~:. E~r Kh~ch proctsiun h,~s not hc•en ~,:~de heremt>elure. and ~n defau!t therrof the m~~rtgagee c.^.a~ pav " t!~r :.~^:t~, ,~r.<i t'~,,! hr k t;l pr~~T,r t:~ deiicer the u2f~cta( rere?pts therefor to thF mortKaKcre S OR . ~ ~ ao~x 196 ~Ge,~~ ~ , - _