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the larvs oi S~e?te ot Florids ~ or order. the prtncipt?1 aum of ~ ;
ffiGBT~i iB~S?ND b 00~100 - • • • - • - - - • - • Dollars 18,000.00 with ; ,
interest irom d~te at the rate oi ti~s ~ one-lourth ~ per centum ~ 9b) pet'
annum on the unpsid bul~noe until psid. The said principal ~nd interat alull be p~yable st the o~oe oi
3TOC~'PO~~ MB~TSLY~ D~YI~T d~ C~Ati? ~ i
In Jacksaa~ville, Florid~e? . or at such other plaoe aa the
holder msy deaignate ia writing. iw a,nthly instaUments oi NI~TB'1'~f de 54/100 ~
Dollara (i 99•54 ~~ommencing on the 8ret day o! FEHI~TABY . .18 65 ~
- oa the rirat day of each month thereaiter until the principal snd intereat are iully W?id, eaoept that the ftnal i
payiaent oi the entire indebtedness evidenced hereby. if not aooner p~?id. alull be due and p~yable on the t
• lirat dsy oi J~11t1ARY .19 ~5 . ;
,
Ii default be made in the ps~yment oi any inate~llment under this note and ii sucb def~wlt is not made ;
~ood prior to the due date of the next auch inat~Ument~ the entire principa~ aum and ~ocrued intere~t ahaIl ~
st onoe beoome due and payable without notice at the option oi the holder oi this note. Fiilure to exerciae ~
this option ahaU not eonatitute a w~ver of the ri~ht to exercise the ssrae in the ev~nt o! any nub~equent
defaulk In the event of default in the p~a,yment o! thia note. and if the aame is o~llected by an sttorney
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Preaentmenk proteak and notioe as+e hereby waived. ' . ;
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' ,~s~ Omar C. 3pencer, Jr. ' ;
O~s~c C. Speacer, Jr. ~ '
. . . • i
' . . . ~ . ' ~ ~e~ ~ E,~~pln~er ' . . c
Plyllis 8. Spencer - ' ~
"And sl~aII dul~. pt+am~y
. aad lnlb? Perlurm. d~scbsrSe. eacecnte, effect, oooapkte, and oompb? with ~nd
abide b~ each and ever~r the stipnlatioAS, agreementa.. conditiona. and eovenants oi said pn~aiaeor note
aud of ~t6is mortg~e. tt?en this mortg~ge and the estate hereby created ahall eeaae and be null v~odd. .
And the mortga~r inrther covenants as follows: . .
1. ,Th~t be ~n71 p~y the indebtednesa, as hereinbefore provided. Privtle~e is reaetved to pqy the ~
~ debt in whole, or in an unount eqw~l to one or more mont6ly p~ymenta on the prIncipal th~t sr+e ne:t due ' ;
on the note. oa the ttrat day-0f any mottth prior tu maturity: Provided, however. t6at written notioe oi an ~
intention tu exercise such privUege ia given at leaat thirty (30) dsya prior to prep~yment; and. provided •
fnrther. thst in the event the debt is paid in iull prior to, maturity and at tt~?t time it ia ins~red tmder
t6e provi~iona of the National Housing Act, he will pay to the mortgag~ee an ad,jnsted premium charae oi
one per centum (igb) of the original principal amouat thereof, except that in no event shuU the adjuated
premiura exceed the aggregate atnount of premium chargea which would have beea p~syable if the morb-
gsge had eontinued to be inaured until mat~ritr: auch payment to be applied by the mortgagee npo~ its
obligation to the Federal Housing Commisaioner on s~ooount ot mortgage insuranoe.
2. Tha~ in order more fuUy to Pmtect the aecurity of thia mortgage, the mortgagor, together arith,
and in addition to, the menthly payments under the terms oi the note aecnred hereby. on the firat day oi
ea~ch month nnt~1 the said note ia fully p~aid, will pay to the mortgagee the following suma:
(a) An amount aufficient to provide the holder hereo! with funds to pay the next mortgs8~e
; insurance premium if thia instrument and the note eecured hereby are insured, or a monthfy charg~e
~ (in lieu of a mortgag~e inaursuce premium) if they are held by tt~e Federal Housing Commiasioner.
. aa followa: -
E (i) It ~nd w lons s~ nid note ot even dste and tbis in~ttn~aeat ~e~s insnrad or ars reiasnred aader tbs
~ , pro~iaions oi tl~e National Hoasing Aet, an smonnt sulOdent to ae~wmulate in tbe hands of the bu3der
one (1) month prior to it~ doe dste the annwl nartgags Inwranoe premiam, in order to p~~ide ~
holder with innds to pay~
andP~ l~b~lathe Federal H~r.Comm~o~r pnrwant to tbe N~tional
p - . Eonsina wet, aa,ena p Re~nlation.
~ (u) If and ~o bns a~ aaid note oi eten date and thu instrument are befd b~ tbe Federal Ho~odn~ Cammit
amou
sioner, a month1~ (in lien of a mortRsBe inwra~ros premiuai) whieh sh~U bs in sa amou~t
eqnal to w~e-tw~dRh ( s) oi onthali ('K ) Per e~ntom oi the ~verage ontdandina bslanee dos on tbs
. note eampnted witbont tating u?to aeoonnt ddinq~uncies or Prepsymmta; .
- (b) A aum equsl to the ground renta, if any, next due, plus 'the premiums thst vv~l nest beoome
• dne and payable on policiea of fire und other hszard insurance oovering tbe mortgaged pmg~8~. P~ns
tauces snd asseasmenta next due on the mortg?ageo property (all as eatimated by the mort ) less
all sums already paid therefor divided by the number. of months to elapse before one month prior
to the dste when suc6 ge+ound rents. premiums, tax~. and assea~nents wiU beoome delinquent, such
smons to be held by mortgagee in trust to pay said ginund rents, premiums, tazea, and apecial assess-
menta; ~und
~ (o} ADp~rnne ts mentioned in the two precedin~ wb~ecttons oi tbis para~raph ~nd all pq?~
~»ata to b~ nudi u nader the note secured hereby shall be added together and the sggreSate amount
thereof ahaU be p~id by the mortgag~or each month in a aingle pa~ynaent to be spplied by the mort-
a~gee to the following itRms in the order aet iorth:
(t) premims e~r~ nnder tbe eoutsaet ot insnrsnos with t6s Federal Hondn~ Commi~doae:. o~ mmtbt~ ~
e3ur~s (in liao ot uatt~s~e inmrana pnmium)~ a~ the ene may be;
' (a ~eound reab„ ta~ce~„ aa~,eats, Sre, aad otber haurd insnrsnoe premi~;
(ut interest on tbe uote ~eeured hereby; and
. <n smorti~ati~ of tbs prL~eipai oi aaid note. .
AtU de}iciency in the xinount of such aggregate monthlq '~aymwt shall, unleas made good by the '
mo prior to the due date of the next such pa~nent, oonshtute an event oi default nnder this mort- -
r~ mortaagee may a~llect a"Iste charge not to execed two cenb for e~ch doUsr ) o!
' ea~ch py?ment more thsn ~fteen (15) daya in arreara to cover the extra e~cpense involved in hsndlin~
delinqnmt p~1?ments.
3. That ii the total oi the paym~ts made by the mortgagor under (b) oi puagraph 2 pr+e~xdin~ shall
e~eeed the amount ot osyments actually made by the mortgagee. tor ground rents. tues and asses~naeub
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