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Home My WebLink About0668 ~ 't s~ , said mortgagoc does he~eby tully waaaat the title to said land,~ and every part thereoE. apd will defead the same ag~inst the la~rful claims of aU persoas whomaoever. PROVIDED AL,NAYS. aad these preseats are execut~ed and delIvered upon the followiag coadltiaas. to wit; The mortgagoc ag~rees to p~y ti~e matgagee, a orde~, the Qrincipal snm of '11iEL9$ '1'~Sl1TD '11~IQ ffiA(~'RD ~d ~/l~~ ~ • ~ ~ • • ~ • • ~ • • • • • • • • • • • • ~ ~ • ~ • • • • w • • • • • ~ Dollais Y2~200.00 ~s a+ideaced by a aote of evea date herewith, witb iaterest from date ot the rate oE t'i7A ~d t~le-=0~1~'th ~~ac~ ( 5 3/4 Pec aanum oa the uapaid balaace uatil poid. 'M~e said pcincipol and iaterest ahall be payable at the oEflce of ~ip(,•~~~ yg~=~~ ~ C~iHY~ 200 Yist Hay Stre~t in Jaoksaa~rille, ?],aMda or at s~ch other place as t6e bolder of the aote may deai~ate ia writiag. ia moathly installa~ats af ~ Zg/l~ w • ~ • ~ • • • • ~0~1![8 ~s 7~~25 COIDOICDCIflQ dp the firat day of Tp~r , 1966 , and a~ tbe first day of each mont6 thereafter uatlltbepriacipel and interest sre fnlly peid, ezcept t!~?t tl~e ~inal payaent of priacipal aad 'wterest, if aot aooaer paid. shall be due ~ and payable on the first doY ~ Oatob~le~ 1996 ; And shall dnly, ptoopUy~ and fdly pe~fe~, dischorge. e:acute, effect, complete. and caeply with aad abide ' by each aad_ every tbe st#pulatia~, ~tee~oents, coalitioas. ~nnd coveaaats of said promissory aote aad of t6is ! mortgage. th~n this matgage and t6c estate heceby created shall cease aat be auil end void. ~ Aad the mortgagac fwtber covenants as [ol2ows: ~ ~ 1. That 6e will p~y the iadebtedaess~ as hee~einbefore provided. Privilege is reserved to pey the debt in ~vhole, ar in an amo~wt eq~sl to onc oc mae monthly peymeats oa t6e priacipel t6at ace ae:f. dne on the aote, on the Eirst day of aay Fnoath prior to maturity: P~ovided, however. that written notice af an inteatioa to exercise sach ptivilege is givea at least thicty (3U) days pria to prepayment; and, pcovided fnrt6er, t6at ia the event the debt is poid in full prior to maturity aad at that time it is iasnred uader the provisioas af tbe Natioaal Honsing Act, be will p~y to the mortgagee ap adjosted premium charge of oue per ceatum (1%) oE tlie origiaal priucipel amount theceof. except that ia no eveat shall the sdjasted pcemium ezceed the agg,regate amount of premium charges vvhic6 ~voald have beea peyable if t6e mortgage had continued to be iasured until maturity; s~ch paymept to be applied by the mort- gagee upon its obli&atioa to tt~e Secretary of Housing aad Urban Davetopmeat oa acconnt of mortgpge iasurance. 2. T6at. in order more Enlly to protect the security of t6is mortgage, tbe mortgagor, together ~vith, and in addi- Gon to, t6e moathly payments under the terms of the aate secared hereby. on the first day oE each month uatil the said aote is fully paid. will pay to the matgagee the following sums: (a) Aa amo~nt stiftictent to provide the 6older hereot with [~ads to p~~ the ae:t mortgage insurance pccmium if t6is insUu- meat ondtt~e note secured hereb~ are Luured, or a moathiy c6u~e (in lien ot a moet~ge iasurance premium) it ffiey are ~ held bp We Secretar~ of Hwsing aad Urbaa pevelopment. as [olloas: (1) If aad so loog as sald note ot even d~te aad t6is insUument are ios~red or are ceinswed under the provisions ot the National Housuf~ Act. an amount ~afCicient to accumulate in tbe h~nds of ffie holder one (1) moath prior to its due date t6e ~onu~l moctea~e iaaur~nce premlus, in order to provide suc6 holder wiW [unds to pay soch prcmium to We Secretar~ of Housiag and Urban Developmeat qusuant to the N~Uonai Honsin~ Act. ss amended, and appiicable Regu- fations thereuader; or (II) It ~nd ao loag as s~id note ot evea d~te ~nd t6is inst~ument ue held br t6e Stcretaq o[ Housiag and Urb~n Devclop- meat. a monthl~ chat~e (in lieu of a mort~t insurance premium) ~vhIch shdl be in aa amount equal to oart~velfth (l/12) of ono-6al( (y4) per ceatum ot tl~e avera~e ontst~ndiog balonce due oa the note eomputed without tatiug into accomt delinqueoclea or prep~rmaiRa; (h) A sum equal to thc grouad rcnts. if ~nr. aezt dne, plns tbe premiums tl~at will ne~t become due and payable oa policiea of tue and ot!?er hasard iasur~ace covetia~ the mort~a~ed propertr, plus tt:es and oasessments de:t due on tse mort- gaged pwperty (aU aa estimated b~ the mortg~Qee) less all sams alrcad~ paid theretor divided b~ We nnmber oI mont6s to elopae be[ore one moat6 pdor to We date ~rhen snc6 ~ouad reuta~ premiums, taYes, and assessments ~vilt become de- linqucat, such snma to be heid by mortgaQee ia trust to p~~ said Qround rents, prcmioma, t~es. and special ~ssessments; and (eJ AU paymeats wentioaed in the twro preceding subsections ot tLis pata~aph wd all payments to be made uader the aote se-c~ved 6erebr ahall be added toget6er aad tbe aggre~ate ~mount thereot shall be paid by the mortgaQor each month in a ~ single papment to be-~pplied br the mortgaQee to t6e tollowing items in tLe o~der set forth: I (n premium c6arQes under the coatr~ct of insurtace wltH t6e Secretary of Housiag ond Urban Development, or moathly ~ ! chrrge (in lien of mortgage ios~ance premium). as tlre case m~y be; ~ ` (m Q,wund rents, tazes, assesaments, fire, aad other huard insaraace premiums~ (IIn interest oa tbe note secured bere~; ~od' (IV) amort'uotion o[ the priwcip~l of said aote. Any deficiency ia the ~pwupt af sucb aggregate monthly p~yment shall, untess made goo~ by the matgagor ; j prior to the dne date of the nezt snc~ peyment. cea~stitute an event ~f defeult under this mortgage. The moetgagee ~ may collect a"late cbarge" not to esceed two cents (2~) for each dollar (sl) of each payment mo~re than fikeen ~ (15) days in anears to cover the extra e:pense iavolved in handling delinquent payments. 3. That if the total d t6e peyments msde by the mortgagor ~wder (b) of paragraph 2 preceding shall exceed ~ ~ the amouat oE paymeats ectually made by t6e matgegee, for ground rents, ta~ces and assessments aad iasurance ~ premiums, as the case may be, snch e:cess shall be credited by the moctgagee on subsequeat payments to be ~ made by the matgagor. If, however, the moat6ly paymeats made by the mortgagor under (6) of peragreph 2 pre- f cedin6 sball not be sufficient to pey gtound eents, ta~ces and assessments and inswaace pcemiums, as the case E may be, ~v6ea the same shall become dne and payable. t6ea the matgagor shall pay to the mortgagee say amonnt ; necessary to meke up the deficieney, on ac beEore t6e date nvhen peyment of such ground rents, tazes, assessments. ~ j or iusurance pcemi~s shall be due. lf at eny time tLe moetgagor shall teadet to the mortg,egee in accordance with ! ~ the provisioas of the aote secured heieby, fnll peyment oE the eatire indebtedaess represeated thereby. tl~e mort- ~ ~ gagee shalt, in compntiag the amouet af such indebtedness. credit to the account of the moctgagor all payments r ~ mede under t6e provisiana of (aJ d poregraph 2 hereaf which the matgagee has not 6ecome obiigated to peyto ~ the Secretary of Housing and Urban Development aad any balance remainiag in the fnrds aceumulated aader tbe ~ provisions af (bj of said paragraph 2. .If lhere shall be a default under any of the provisious of this matpge. re- ~ ( sultiag in a public sale of the pcemisea covered hereby, a if the matgagee acquires the pcoperty othenpise after ~ default, the matgagee sbell apply. at tbe time eE the commencement of such proceedings or at t6e time the pcop- ~ edy is othenvise acqnired~ t6e balance thea remaiaing in the fyads accumulated under (8) af peragRaph 2 preceding ~ as a credit against the amouet of priacipal tbea remaining nnpaid uader said note and shall properlyadjust eny ~ payments wbicb shall bave been made nudec (a) of said paragraph. ~ 4. That be will pay all texes, assessments, water rates, and other goveramental or municipal charges, fines, oc impoeitioas, for which pravisiot~ has not been made hereinbefore~ and in default thereof the mortgagee mey pay E the same; and that he will ptomptly deliver the officiel receipts therefor to the modpgee. f . ; ~ aooK154 ~8 ~ - ~t . ~y ~~'.~`'~,~5 ~tiF-~;;:s~'~-~+x,~~s*.; _ - - - , . ~ ~ .~'F ~ ' "a:~-~