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Home My WebLink About1816 W 1 P1tovlnF[~ A1.~r•~~Y~, ~i~id these ln•esents are ~~~ecuted ~~td deli~~ered iipo~i the follo~~~in~ coniiitions, to i t : Tlie mai•tgflgoi• ~gi•ees to p~ti~ the moi•tg~~ee, oi• order, tlie pi•i~icipal s~mi of F~pU~'S~ T~OUS~HD s 88V~t AtTHURt~AFIFPYBrid 00~100_ - - - O Y O o _ _ _ _ _ « _ _ _ s _ _ Doll~rs 14,75o.0U ~s e~~idenceci b~' il Il0{C Of C~~en date herc~~~~ith, ~~•ith interest from d~te ; FFive da c~t~e-fourth per centum ) per annum on tlie un- 4 ~tt tlie rate of ~ p~icl balance utitil p~tici. The said principal ~tnci interest shall be payable at the of~ice of ; i J. T. 3T&IART MOftTC~l.4E C~IPANX, INC. in Cor~?1 pe?ble~, Florida or at such other pl~ce as the holder of the note may~ designate in ~~~riting, in monthl}~ installments of $IGHTY-O~TE and 5?~100• - - - - - - - - - Doll~rs 81.57 commencing on the first dati~ of Maroh , 1s66 , and on the first d~y of eacii ma~itli tliel•eafter ii~itil tlie principal and interest are fully paid, except that the final pa~mient of principal and interest, if not sooner paid, s}iall be due anci pa~~able on t}ie fii•st d~y of Feb~'uarg , ls 96 ; ~ ~ And shall duly, promptly, and fully pc~rfoi-m~ discharge, execute, efi'ect, complete~ and comply witli and f abide by eacli and every tl~e sti?~ulations, ~gi•eenients, conditions, a~id cove~iants of said promissory note ; and of this mortgage, then this mo~•tgage and the estate hereby created shall cease and be null and void. ~ And the mortg~gor further co~~enants as follo~?•s: 1. That he will pav the indebtedness, ~ts hereinhefore provided. Privilege is i•eserved to pzy the debt in whole, or in an amoi:nt equal to one or more monthly payments an the principal that are next due Oll f~1C llOt@, on the first da~~ of any' IllOlit~l ~)1'101' t0 1118t111•ity : Provided, iio«~e~~er, that ~~'ritten notice of an intention to exercise such uri~•ilege is given at least thirty (30) days prior to prep~yment; 1nd, provided fui•ther, that in the event the debt is p~id in full prior to maturity and at that tin~e it is insured under the provisions of the National Ilousing Act, he will pay to the mortgagee an adjusted premium charge of one per centum (1 ) of the original principal amount thereof, except that in no event shali the adjusted premium exceed tlie aggre~ate smount af }zi•emittm charges ~vhich would have i~eeii payable if tlte mort- gage had continued to be insured untii maturit~~; such payment to be applied b3~ the mortgagee upon its obligation to the Federal ~iousing Commissioner on account of mortgage ~nsurance. ~ 2, Th~t, in order more fully to protect tiie security of this mortgage, the mortgagoi•, together ~1~ith, f and in addit~on to, the monthly payments under the terms of the note secured hereU~•, on the first day of ~ each month until the s~id note is fully paid, ~ti~ill p.ty to the mortgagee the follo~~~ing sums: ~ ~ (a) An amount sufficient to pi•o~~ide the holder hereof «~ith funds to pa~~ the next mort.gage ~ insurance premium if this instrument ~nd the note secured hereby are insured, or a monthl~~ charge ~ (in liett of a mortgage insurance pi•emium) if they are held by t.he Feder~l Housing Commissioner, ~ as follo~~•s : 3 If and so lonR as said note of even date and this instrument are insure~i or nrc i•cinsured under the ~ pro~•isions of the National Housing Act, an amount sufficient to accumulatc in the hands of the holder ~ one (1) month prior to its due date the annual mortgage insurance pren~ium, in order to pro~•ide such } holder ~sith funds to pa}~ such preniium to the Federal Housing Commissioner pursuant to the N~tional ~ Housin~; Act, as amended, and applicablo Regulations thei•~unde?•; or ~ (u) If and so long as said notc of e~•en date and this instrument are held by the Fecieral Housing Commis- ~ ~ sioner, a monthly charge (in lieu of a mortRage insurance premium) ~ehich shall be in an amount ~ equal to one-hvelfth (~~i•~) of one-half per centum of thc a~•eraKe outstanding balance due on the ~ note computed ~~•ithout taking into account delinryuencies or prepayments; (b) A sum equal to the ground rents, if any, next due, plus the premiums that will next become ~ due and pa~~aUle on policies of fire and other hazard insurance covering the mortgaged property, plus ~ taxes and assessments next due on tlie mortgaged property (all as estimated by the moi•tgagee) less all sums already paid therefor divided by the number of munths to elapse before one month prior 3 to the date ~vhen sucli ground rents, premiums, taxes, and assessments ~vill become delinquent, such ~ sums to be held by mortgagee in trust to pay said ground rents, premiums, taxes, and special assess- ~ ments; and ~ (c) All pa~~ments mentioned in the t«~o preceding subsections of this paragraph and all pay- ~ ments to l~e made under the nate secured hereby shall be added togetiier and tl~e aggregate an~ount i thereof shall be paid by the mortgagor each month in a single payment to be applied by the mort- gagee to the following items in the order set forth : ~ (i) premium char~es under the contract oi insurance with the Federal Housing Commissioner, or monthly ~ char~e (in lieu of mortgage insurance premiuni), as the case n~ay be; ~ (tt) ground rents, kaxes, assessments, fire, and other hazard insurance prc~miums; ; ; (n[) interest on the note secured hereby; and ; ' (I~') amortization of the principal of saici note. ~ ; Any deficiency in the amount of such aggregate monthly pa~~ment shall, unless made good by the ~ • mortgagor prior to the due date of the neat such pa~•ment, constitute an e~•ent of default under this mort- ~ ~ gage. The mortgagee may cullect a"late charge" not to exceed t~vo cents (21•) for each dollar ($1) of ~ each payment more than fifteen (15) days in arrears to co~~er the extra exgense involved i~i handiing ~ , delinquent payments. ' 3. That if the total of the pa~~ments made by themortgagor undei• (b) of paragi•aph 2 preceding shall ~ ~ exceed the amount of na~•ments actually made by the moi•tgagee, for ground rents, taxes and asses~ments ~ and insurance premiums, as the case may be, such excess shall be cre dited by the mortgagee on subsequent ~ ~ payments to be made by the mortgagor. If, however, the monthly payments made by the mortgagor ~ under (b) of paragraph 2 preceding shall not be sufficient to pay ground rents, taxes and assessments ~ ~ and insurance premiums, as tne case may be, when the same shall become due and paS~able, then the ~ ~ mortgagor shall pay to the mortgagee any amount necessary to make up the deficiency, on or before the ~ date ~ti~hen payment of $uch ground rents, taxes, assessments, or insurance premiums shall be due. If ~ at any time the mortgagor shall tender to the mortgagee in accordance with the provisions of the note ~ secured hereby~ full payment of the entire indebtedness represented thereby, the mortgagee shall, ~n com- ~ puting the amount of such indebtedness, credit to the account of the mortgagor all payments made u~iciei• ~ the provisions of (a) of paragraph 2 hereof which the mortgagee has not become obligated to pa~• to the ~ Federal Housing Commissioner and any balance remaining in the funds accumulated under the pi•o~•isions of (b) of said paragraph 2. If there shall be a default under any of the provisions of this moi•tgage, re- ~ sulting in a public sale of the premises covered hereby, or if the mortgagee acquires the propert~• other- ~ wise after default, the mortgagee shall apply, at the time of the commencement of such proceedings or at the time the property is otherwise acquired, the baiance then remaining in the funds accumulated under ~ (b) of paragraph 2 preceding as a credit against the amount of principal then remaining unpaid under ~ said note and shall properly adjust any payments which shall have been made under (a) of said paragi•aph. ~ 4. That he will pay all taxes, assessments, water rates, and other governmental or municipal charges, ; • s BOOK~~~ ~Q }