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Home My WebLink About1200 ..,i,i r.,~rtt:.,~~.~~r du~•s hrrrb~ f,:l:~ «•urr.~nt `;ic• tttle• tu ~,,id !.+nd. and c•~rn p,~rt tiirrc•~~l. <~~:d ~.~~1': ~{r!c:t:? t;;r >...r,:~ .~~.,:n~t th.~ ;,~~.tilui ciaim~ u~ all pc•rtiun. w~iun~scx~~rr. P1~O~'IDEU A1.11'AYS, and these prc•srnts are exr~ uted und del~~•rrrd upon thr fulluw•~nK conditiun., to w it: l't.r murtKaKur aKrres to ~~i~`' ~flt• TUIIK,u{;re. ~~r order, thr principa+l ium of EIGgTS6N THOUSAND pI~ t 1~ ~IId ~~1~ ~ (}~~~;,,~ti ij 1$~1~~~ 1, ati e~idrnced b~• a nute of e~~en date n~retv~th. ~~•ith inte:est from datr .+t tt~~~ ; i.,tr u1 $fS,'{rh~ pc:r c~ntum ~ ~7M ~i per annum ~n ttie unpaid balance ; u:~ti1 p<+id. The said ptincipal and tnterrst shall be pa~•able at the eitice ot AZ'ICU MI~Ct'liAlil~ 1:U1~1l~~`l'IOI~~ ~ P. 0. Boz 3131, Yiami, Florida 33101 ur .~t such other place ~~s the hulder u[ the note ma~~ designate in ~criting, ~n monthl~• inst~llments oi Qj~jly ~ T~NTY and 55~100 ~..~Dollars (S j~p.,y~ comn~encing cn the t~rst da~• ot Febraary . 19 72 . and on the first da~• of each month thereafter ~ntil the pcincipal and interest aire tull~• paid, except th~~t the iina! ~a~•ment of principal and interest, if n~t sooner paid, shali be due a~:d ~ayable on the first day of Jgnllgpy~ ~)Q2 r\nd shall dul~~, promptl~•, and full}~ pertorm, discharge, execute, efiect, complete, and comply with and abide bt r~~ch and e~•en~ the stipulattons, aKreements, conditions, and co~•enants of said prom~ssory~ note and of this murt~;.~ke, then th~s mortgage and the estate herebt created shall cease and be null and ~•~~id. And the mortgagor Eurther covenants a~ follo~•s: 1. That he w~ill pa}• the indebtedness, as hereinbefore pru~•ided. Pnvilrge is resen•ed to pa1' the debt in u•hole. ur in an amount equal to one or more monthl~~ pa~•ments on the pnncipal that are next due on the note, on the first d:~~ uE an~~ month prior to maturit~: ~'?~~~:e.~:;. however, that uritten notice of an intention to exercise such privilege ?s ~~crn at least thirtt• (30) da~s prior to pre~ra~•ment: and, pro~~ided further, that in the e~~ent the debt is p~id in tull ~~nur to matur?h~ and at that time it is irtsured under the provis?ons of the National Housing Act, he wiil pa~~ to the mortgugee an udjusted premium charge o[ one per centum (1`') of the original principal amount thereof, except tt:~,t ~n no e~~ent shall the adiusted premium exceed the aggregate amount of premium charges which would ha~~e hern p~t~able if tfie mortgage had continued to be insured until maturitt•; such payment to be applied b~• the mort- ~~+Kee upon its obligation to the Secretar~~ of Nousing and Urban Development on account of mortgage insurance. That, ~n order more tuil)• to protect the securih~ of this mottgage, the mortgagor, together with. and in addi- t~un to, the m~nthl~- pa~~ments under the terms of the note secured hereb}•. on the tirst da}~ of each month untit the s.~id nutr is fullc paid. ~~ill pa~~ to the mortRaRee the [ollouing sums: : Ar, ea~.~unt suf(~c~rnt to pru~~idr the holdrr hrrruf with (unds to pa~- thr neat m~rt~age insurancr lremiur.: if t:~is ~nstru- ~ me~nt and the note srcutrd hr~rbY arr insurrd, or e~onthl~ rhur~e (!n tiru of a r!:ortga~,e ~nsurancr prrmiuml ~f they arr ht~(d h~ thr tiec« •tary of Hous~nK and Urhan Dr~~rl.~prt:ent, as follow's: il: 11 ..nd +o lon¢ as said note a( rvrn date anJ this instrumrnt arr insured or are reinsured undrr the pro~•~siuns of ihe K..t:onnl Huus~ng Act, an am~unt +uft~c~rnt tu accur.~utate in the hands o[ the holder one il) ^~:onth priur to its due t .3.,n• the onnual mortg:age ~nsurance pn•m?ur.~. in urder to PtUVtIIC such holdrr vrith tunds to yay suchpren:ium to the ~ 5rcretan• u( H~.us~~K and Urban De•~~elup:r.cmt put~uan[ tu the ;~at?onel Hous~ng Act. as amended, and applicablr RrKu- ~ ; lau~~ns thrreun~lrr, or ~ ~ 111 It and se. lunq as said m~te uf c•~~rn datr and th~s instr~ment arr held by the Secretary of Hous~n~ and l;rban De~•c~lo, - ` r..rnt, a^::~nthl~ cnar~;e ~in heu a muri~{agE insurance prem~uml which shall be in yn amount equal tu enr-t~velfch ~ ~ 1 1"~i ~~f one-ha(f prr centum uf the a~•rraKr oulstand~nK balance due on the note curaputed w•tthout takmg ~nw ~ a<i uunt drLnyuenc~es or prrpet'.^.icnts, i • A~u-. ~•yu.+! t~ th~• ~;r~~und rrnts, if an>~. nrxt dur, plus the prr::,iums that will nezt becvme dne and pavablr un pol~cies i .,1 f~re~ ~nd othrr h:.zard ~nsurancr cncrrin~ the r...,rt~;agrd propertq, plus tazes and assessments next due on the mort- ; .~ati~•d pr.~prrtc (all as r.ttrnated b~' thr r.;urtKd~;cr) .ess all sums already pa~d there[or d~eided bc the namber of month~ ~ to riap~~• brforr ,~nr c~~,nth pnur to thr detr when surh Kreund rents, premiums, taxes, and assrssa,ents ~cili becomi de- ; Lnyu~~nt, su~ h+ur.:. t~.~ hr held b~' r:ortKeger m trust w pay sa~d ground rents, premmms, taxes, and special as~essrt:ents, ~ end ~ ; Ai: pe~rr..•nt~ mc~nhona•d in the tw•u preceding subsections of this paragraph ~nd a21 pa~~mrnts to be r.:adr under [hr nute ~ ~rcure•J hrra•b~• ~hall bc edArd tugether anJ the aKgregate amount thereof shall be peid b} the mortgeg~r each month ~n a ~ ~:n~;ir paymrnl t~~ hc appl~rA b~ the mortgagee tu thr [olloK'ing items tn the urder se! forth: 5 ~ ifi ~>r~'n.ium churges unAer thr cnntract ot insurenrr ~cith the Secretan• o( Housing and Urban Devel~pment. ur month:}~ ~h.+r~;r (in iiru uf n.urtKage ~nsurancr p[cmtum). es thr case map be, _ ~11~ Kruund rrnts, taxes, assrssmrnts, (ire. and ;thrr hazard ~nsurancr premwms; ~llli ~n[rre.t on thr notr secured hrrebp; and ~ ac:urttzutloD of the princ~pal o[ sa~d notr. ~ :1m• de[iciency in the ar~ount of such ap,gregate monthl~~ pal~ment shall, unless made good by the mortgagor ~ pnor to the due date uf the next such pa~•ment, const~tute an event of defauit under th~s mortgage_ The mortgagee ~ m;~~ coilect a"late ch:~rKe" not to exceed tuo cents (2C) for each doltar (51) of each pa~~ment more than fifteen tl~) da~•s in arrrars to cover the extra expense invvl~•ed in handling delinquent payments. m 3. That if the total of the pa}•ments made by the mortgagor under (6) of paragraph 2 preceding shall exceed _ the amuunt of payments actually m3de by the mortgagee, for ground rents, taxes and assessments dnd insurance prem~um~, a~ the case may be, such excess shatl be credited by the mortgagee on subsequent payments to be m~de bti• thc• mort~agor. If, howe~•er, the monthl~~ payments made by the mortgagor under (61 of paragraph 2 pre- c~•dinK shaii not be sufticient to pay ground rents, taxes and assessm~~nts and ~nsurance prerr~iums, as the case : _ pay" g" g P s" g S j ~ ma~• be, when the same sliall become due and able, ihen the mort ~ or shall ay~ to the mort a ee an • amount ' _ nrcessar~• to make up the defic~ency, on or beEore the date when payment of such gruund rents, taxes, assessments, ~ _ or ~nsurcince prem~ums shall be due. lf at an}• time the mortgagor shalltender to the mortgagee in accordance Kith ~ = th~• prc,~•~siu~s of the note secured hereb~•, fuil pa~~ment of the entire indebtedness represented thereb}•, the mort- _ KaKe•e shall, in computinK the amount ot such ~ndebtedness, credit to the acco~nt of the mortgagor all pa~~ments ; m~de under the pro~~isions of /ul of para~raph 2 hereof which the moctgagee has not become obligated to payto ~ = tbe Secretary~ of Ilous~ng and Urban Development and any balance remaining in the funds accumulated under the ~ prrn~~s~uns of !%~l of sa~d paragraph 2. If there shall be a default under any of the provisio~s of this mottgage, re- sult?nK in a publ?c sale oE the premi~es covesed ~eceby, ~r if the moctgagee acquires the property othervrise a[ter drt~ult. thc~ mortg:~gee shall applp, at the t~me of the commencement of such proceedings or at the time the prop- ert~• ~s c>therw ise acquued, the b~lanre then remain~ng in the funds accumulated under i~~ 1 of para~raph 2 preceding - as a crt~dit against the amount of principal then rrma~nin~ unpaid un~et said note and sha11 properlyad}ust an~~ pavments u•hich shall ha~~e been made under /u) of said paragra~h. 4. "that he will pay al! taxes, assessments, water rates, and other go~~ernmental or mun~cipal charges, fines, t ur ~mpusitiuns, fot which pro~•~s~on has not been made hereinbefore, and in default thereof the mortgagee may pay ! y~ thr ~ame, and that he well promptl~• deli~•er the utficial receipts therefor to the mortgagee. ; ~ - GR ~ aoox 198 F~ ~,199 ; _ ~ . ~ . , . _ - . _