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Home My WebLink About0413 . . .~Si4,.~t'. ~~L c(Ur~ }1t'It•f)~ !,.i:. '.\.~:..~Rt '~IC' 12~:t' :J a:~ld ~.it?(~. d!1(j c'Lt'[~ ~)aLI I!]t'(t'i~~. dZ2U 1\~1ii :jt'!c':!:. (Gt' ti.~;.:t• : K:~ L~~f:~~21Ua'Ct'i. .na'..~1.':~l i}ll' .e'.~tl1i ('~ulfi7~ U~ :i11 per.+ P1~O\'IDE:U ALlCqI'S. .+nd thrsc prrsc~nts .+r~ rxc•.-uh•ci and dei?erred upon the follu~rin~; conditioas. to u•~t: ~l~t;r mortF.,Kor ~Kr~•rs t., tht• ;^c~rtKu~;rc•. ur urcier. thr pnnc:pal sum ot p'~~N TEIOUS~ND NINE I-NNDRSb a1t1D NO/100-------------------------------------------------------------- ;7~+i:..r: ta 15~900.00 t, ati r~~:~rnced b~• a nu[e Jf e~•en date hrre~~~~th. ~~'ith interest fr~~m da:~• t};~~ r.~t~• ot Severi per crntum ~ p~r annum un the unpaid balanc~r .,atil p~.i~3. The sdid pnnr:p.~i ~+nd interest shai! bc pa~able at the uffice of J. T. ST~IART MO~PGIIGS COI~~ANY~ INC., Suite 300 - 100 Miracle Nile, Coral Gables, Florida ~r .~t .urh uther place ~s the hulder oi the note m~}• des~gnate in w~r~ting. ~n monthl~• ~nstallments oi Q1e Mlndred Five and $9/100---------------------- Dol!~rs (S 105.89 commencing on ti~~• f~:st da~ of Deceml~r , 19 71 , and on the first da~• o[ eac': ,;:oz;h i!se;eafter uati!!hepnncipal ,~nd i~terrst ~re iuU~• paid, except that the Ilnal payment of prir.cipal and interest, it not sooner patd, shall be due a;~d F~~+~:+ble on ~he first da~• of November, 2001 A~~d shaIl dul~, prompth•, and full~• pertorm. discharge, execute, effect, complete, and comply w~~th and abide hti rurh and e~er}• the st~puiations, aKceements, ~onditions, and cocenants of said promissor}• note and ot this c~~~rt,~.~~;e, then this mort~age :+nd the estate heteb} created shall cease and be null and ~•uid. A~d the r.~ortgagor lurther co~•enants as follou~s: 1 That he w•ill pa~• the indebtrdness, as hereinbeto:e pra~•ided. Pr~~•ilrge ~s reser~~ed to pa} the debt ?n w•hole. ,~r m an amount equal to one or more montht~ pa~ments on the principai that are ::ext due on the notc. on the E~rst ;:.r, :~i :,r,~ manth prior to maturitt•: 1~..~: : if~ i. howe~•er, that k~ritten notice of an intention to exercise such pn~•~lege ~icrn at least thirtt• (30) da~s pnor tu pre~a~~ment: and, pro~•ided further, that tn the e~ent the debt ts paid tn E::il pn~r tc~ r~atu:~h and at that t~me it is ~nsured ~nder the provis~ons ot the National Nousing Act, he will pay t~ ~h~~ ~r.~:rtk.~Kee an ~diustcd prem~ucr, charge of one per centum (1 of the original principal amount thereof, except ;':,,t ~:i no r~ent sh~I! the ad~usted premium exceed the aggregate amount ot premium charges which would ha~e ~~~•c~n pa~abie if the mort~age had continued to be ~nsured until maturity; such pajment to be applied b~• the mo:t- c;aKee upcn its obiiKation to the ~ecretar~• of Housing and Urban Development on account of mortgage insurance. Th~~~, m order more tull}• to protect the securih• ot this mortgage, the mortgagor. together with. and in addi- ~,un to. the monthl~~ pa}•ments under the terms of the note secured hereb~•, on the fust day of each month until the .,,ic~ ~.~te~ i~ full~ paid. w•ili pa~ to the mortKa~ee the [olto~cing sums: 1n .~u7: <uff~. «•n: t~~ pru~i:ir thr h~~l~lrn c~rr•.,f with funds to pay thr neat mortga~e insurence premwm this ~nstru- , r. rnt ..~d the• n~:tr nc•. ~rr.2 hrrrG~ ara• ~nsurrd. ~r e nonthl~ i har~;c~ i1n !tru O[ a mottgaKe ~nsurancr ptc•mtum: if they a~e ;s~ :.i thr ~r.rcterc H~~ustnK end l'rhan Dr~•rl~~pment. es [;~ilows: I lf ~,n.i ,~:~,:i~ as saed note .~t rvrn .:atr +nd this instrumrnt are ~n~urrA or arr re~nsurrd undrr tne pruc.sions o! the \.,tr.~nal N•,us~n~ A~ an em.~unt ~ulfic~rnt t~~ arcumulate in the fiands o( the heider one il) ^:vnth prior to its due .i..t.~ t'~r .,nnuef r..vrt~,a~r insurancr ptrr.:iurr.. tn urdrr tu prvcide su.h holdrr ~•ith funds to pa~~ surhprrn:iurt: to the j ti~, r<~ter~ ~t H~us~n,; and Urbon D~+~e! ~r^:r.^.! r______.t !e !!:r ~_!t_nal Hous~ng Art. +s ~mrnde~, ~nd appS~rable Re~;n- i E ~.til~~ft~ ! :t'ft'U(1~~t f. Vf 11: 11 .,~d l~,~k as ~aid n•~t~• r~:rn Satr dnd this instrument irr held b~• the Srcretrn of Housing and l'rben De-rrSop- ~ r~•r.:. a r. ,nthh ~ her~e ~ in i~eL .~f a T.UfL~d~R insunncr prem~uml whtrh shall be in an e~iuunt rqua: tu onr-t•.~'rlf!h ~ ~ 1 1_~ ~,t ;:~r-h.~tt i•_~ prr ~rntur.. oi thr errre~r uutst+nd~aR b~lance due un Lhe n~te cumputed with~ut t~king ~nt~, E ~.:~~t drltnyuen. ~rs or ptrpn)'ments, ~ A~u^: ~•yua: tv the druund rrnts, if ~ny. nr:t due, plus tht prrm~ums th~t will nezt becume due and pap~ble on pol~ries ~ ! iirr .~n.1 uthrr haterA ~nsurancr rncrnn~ the r.ortgagrd properh', plus taxes ar.d asses~mrn:s ne~t due on the rt:ort- ~ ,~r.~~~,~rt~ ~al: es ~-a!tT.eted h) ihr r.,vrtgageri Sess a21 sums already paad therrter d~~ided bt tha numbrr of months z , i brt.~rr ~ n.• r.:~.n:h pri~.u ~u the date when such ~ruund rents. pre~:iums. ta:rs, and assessments w'~11 become de- •uch ~u^.~ !o hr h.•:d b~ ~-._~rt~;agec• in trust to pay satd ground rents. prrcr~um5. tsxes, andsperialassessments, ..n.i ~ A;i p~~nentti r:a•nt~vnrd tn ihe tvco precrd~n~ subsections of th~s , a[agraph and a:! pr~ments to be r.i~3e under thr n.~tr ~ ur~•d h~-rrb~~ ~he1i hr addrd t~Krthrr aw~ the ~ggrrgatr ir.,ount therru! sh~ll t~e pald by the mortg+gor rach month ~n a - ~:n~;c pa~nrnt t~~ hr appl~rd b~ the rr.ort~;ugre tu the L~Ilow•?ng items irt thr nrder se: furth~ n ;~r~•^:iuc ['harges under thr contra:: ut ~nsuran. r w uh the Secret~r}• of H~~us~ng and Urhan De~•riopment, or r. ,>nthl~ ~ c her~;r un i~eu of ^artgag.• in+urst~ce prrrium;, as the case may be, ~ ii~ kr~.und rrntsY;axrs, assess~r.ents. (irr. end .:ther hazsrd insurancr prrr..iums. ~t11~ ~ntrrrst on thr note srcured hrreb~', and - :1~~~ +r.;rt~zat~:~n ot the princip+l o( said notr. ti An~ def~cienc~• in the ar-iount of such a~regate monthly payment shall, unless made good by the mortgaKor ~ ~>nur ta the due date uf the next such pa~mrnt, cc~nstttute an e~•ent of default under this sr,ortgage. The mortgager ~ ~.+t collect a"late ch~rqe" not to exreed tu-o ce~ts ~2e) for each dollar lSl i uf each ~}•ment more than ftfteen ~ ~ t~~ d.+~~s ~n arrears to cocer thr extra expense im~ol~•ed in handting delinquent pay~ments. ~ 3 That if the total of the pa}~ments made b}• the mortgagut under (b/ of paragraph 2 preceding shall exceed ~ !nc~ ~r^ount of payments actually m~de b~ the rtiort~agee. tor ground rents, taxes and assessments and insurancc ~ premium~, a~ the case ma~• be. su~h excrss shall be credited b~• the mortgagee on subsequent pa}mertts to be m.+<lr b~ thr mort~ekur. If. hou•e~er, the monthly payments made b~• the mortgagor unde~ !1,i of paragraph 2 pre- _ ~rdinK ~h.+}1 nc~t be su[f~cu~nt to pa~• ground rents. taxes and assessr:.•nts and insurance premiums. as the case = r:,~~ when the same sh~ll becume due and payable, then the mottg~gut shall pa~• to the mortgagee an~• dmount ~ ~ ::rcess~~r~• tu mekt• up the def?ciency~,on ot before the date w•hen pa}ment of such gronnd rents, taxes,assess:rea~s. - „r ~nsar:+acc• ~re:-aum~ shatl he due. If at an~ time the murtgdgor shalltender to the mortgagee ~n accordance u•tti~ ~ tii~• ~ ~s:,+ns ~,f tize n~te s~curc•~' hcrc~b~ . fu:l p<+cmer.t of the enUre indebtc~.:ness represented thereb~ . the mort- ~ _ R~,~~e~t~ ~h.,ti. ~n c-omputin~ the ~mount of cucF mdeb!edness, credit to the eccnunt of the mortgagor ati pa~•ments ~ ' ^,a~'e~ under t~e pro~~is~ons vt !u~ uf par,+Kraph 2 hereo( w•h~ch the m~rtgagee !~as not become obl~gated to pa~•to ~ thc~ yec-retart• of H~~usinK .md Lrb~n Ik•~~efopment and any balance remam~nR ~n the funds accumulated undet the ~ t~r~~: ~~~~~a~ ot ~ o! sa~d pat~qtaph IE thrre shati be a default ur.der any ~~f the pro~•~sio~s of th~s mortga~e. te- ,;:+r,~ :r pub;u sate ~~f thr pr~•ms.e•s c~~~~r:ed ~erebp, or ~f the m~!ga~ee arqs:res th~ Ys^us!y utherui~e after _ :?~~t.,u:t. tiu• r^urtKaRee shall appty~. at the t~me of the commencement ~f such proceedings or at the ttme the prop- ~•r!: e~ uthe~rwi~e .icqutred.the balancr then remaining ?n the funds accumulated under'~ / ot para~raph 2 preceding cred~t .~~;,inst the .+rr~.,unt of pri~c~~l the~ rema~n~ng unpaid under ssaid note and shall prupe~tt~ad~ust an}• ~~.~~^~~•ats ~ehich ~h~ll hace been made under !~i? of said paragtaph. J 1'h,~t he w•!11 pa~• aIl taxes. ~~se~sments. w~ater rates, and other gurer~menta! o~ mun~ripal charqrti, hnes. .~r a^•p~w.~h~m~. t.~r uhirh proti ~s~~n h.,~ net been made hete~nbefore. and tn default thereo! thc murtgagec ma~ pa~ th~ ,,~~d r~.+t he Mr~N proazptls Arit,.er tFe otf~cial rece~pts theteEor to the mortgaKee ~ aoo~ 197' ~ 413 j _ ~ 'r_'~ ~ ~ _ i q~ s~ _ . - . . - . ` . ~ . . . _ _ . . _ _:."~t.~