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Home My WebLink About0971 a ` ~ ~ . ~ ~ L ! said matgagor does heceby Eully wanaat the title to seid land. and every pad thereof. and will detend the saaie sg_inst t4~ lnwfnl ~laima c,t ~Il pe~soas wbomscever. PROVmED AL~IAYS, and tbese presents are executed end delivered upon the following coaditlons. to ajt: Tl~e a~atgagoc ag~rees to pay the moctgagee, or order. tbe priacip~t sum of SLBy~i '1'~1Q8~!$D SIZ ~D FIFl? and 00~100- - - - - - - - - - • - • - • ~ ~ ~ - - • ~ - - - - - - • • • - - - - Dollers (S 11~6~j0.00 as evidenced by a note of even date herewith. wit6 taterest fwm date at the rate oi lYvs ead tbree-tOUT~ per ceat~ ( 5 3/4 P~~ annum on the uap~id balance until peid. Tbe said principol aad intecest shall be payable at the office af 9TpCST~, 1~1EATL$i~ ~AYI~t b COI~ANY~ 100 Yeat Be~y Street in Ja?oksooz~?ille~. Florids, ~,~t Rurh ather Qlace es the holder of tl~e aote may desigpate ia writing, in moathly instellmeats of SIXTY•SLGH'P and 04/100- - - - - - - - - - Doll~rs (s 68.04 commeacing o~ the tirst day of 1~OVaRbAr . 19 , and oa the first day of each moath theceafter uatiltheprincipel and intecest are fully paid. except that the final payment of priacipal aad interest, if aot sooner psid, shall be due aad peyable oa the first dey of OOtob~~ l~ : And shall duly. promptly, aad fully pedorm. discharge. execute. effect, complete, and comply ~vith ead abide by each and every the stipuletioas, ag~eements. conditiaas. aad coveaants ~ said promissory note and of this mortgage, thea this moctgege aad the estate heceby created shall cease ~nd be nuil sad void. • Aad the mortgagor Euether covenaats as follows: 1. Tl~at he aill pay the indebtedaess, as hereinbefore provided. Privitege is reserved to pay the debt in whole, , or in an aawant equal to one or mae monthly paymeats on the principel that are next due oa the aote. on the first j day of aay month pcior to maturity: Provided. 6oWever, that wriKen aotice of an iatent9oa to exercise sach pcivilege is givea at least ffiirty (30) days prior to prepeyment; aad, pravided fwther, that in the event the debt is paid in full prior to maturity and at that time it is insured under the pcovisioas of the Natioaal Honsing Act, he will pay to the mortgagee aa adjusted premium charge of one per centum (1%) of the origiaal principal amount thereof. ezcept that in ao event shall the adjusted premium exceed the aggregate amoaat of premi~uo charges which ~vould have ~ been payable if t6e martgege had coatinned to be insured until maturity; such paymeat to be applied by tbe mort- gagee upoa its obligatio~ to the Seccetary of Housing and Urban Development on accaint of mortg,age insuraace. 2. That, in order more fuUy to pcotect the security oE this matgage. the mortgagor. together with. and in addi- tion to. the monthly paymeats under the terms of the aote secured hereby, on the first day of each month until the said aote is fully paid, will pay to the mortgagee t6e follo~ving sums: (o) An amount sutficieet to provide the holder hereof wit6 tunds to p~y tde oe:t mortgaQe iasurance premium it tbis Instrn- ment aadthe note secured hereby are iasured. or a monthly ch~ree (In liea o[ a mortQage iasuraace premium) If ther ~re } held b~ t6e Secretarp oE Housiag oad Urban Development. as tolla~rs: ~ (I) U and so loog oa said aote of even date and this ir?sWment ~rc insured or aro teiasured under the provisioas of the - Natiuaal Housing Act. an ama~nt sufCcient to accnmulate in the !?ands ot the holder one (1) moath prior to its due date t6e oaauol mortgage inaarance premium, in order to provide snch holder with tunds to pay such premium to the j Secrctary of Housing ead Urban Developmeat pursuant to tLe I~la4onsl Housing Act, as amended, and opplicable Regu- ~ latiooa thereaader; or (II) If and so loag as soid aote o[ evea date and this inattument ve held by tl~e Secretory of Housing oad Urban Develop- i ment. a moathly charge (in lieu of a mortgage insuraace ptemium) ~vhic6 ahdl be in an amount equal to oae-tweltW t (1/12) ot onrholt (yJ) per ceatnm of t6e avenge oatst~nding bal~ace due on the note comp~ted without taking into ~ account delinquencies or prepaymeats; ` (6J A sum equa! to the grouad rents. it any, nest due, plus tLe premiums that ~rill ne:t become due and papable on policies F of Cue and other hazard iasuraace covering the mortgaeed properqr. plus t~:es aad assessments ne:t due on the mort• , gaged propert~ (sll as estimated by tAe mortgagee) less all sums olready paid theretor divided by ffie number of months to elapse betore one mont6 prior to the date whea suc6 ground rents, premiums, ta:es, and ossessmeats wiU become de- linquent, such sums to be held by mortgagee In trust to pay s~id ~ound rents. prcmiums. t~ses, ~ud special ~ssessments; • and ~ (eJ All payments mentioned in the two precediag aubaections of thla pangrapb aod all p~yments to be m~de nnder tAe note j secured herebr ahall be added together ~nd the ~g~egate amonnt thereof shall be pald b~ the mortgagor each month in ¦ ~ siagle payment to be applied by the mortgagee to tbe following items ia tLe order set fwW: ! (n premium charges under the contract of insaraace ~vith the Secrotary of Housiag and l/rban Develoqneat, or monffilr ` charge (in lieu ot mortgage insoronce premium), aa the case may be; i (In gromd rents, tazes, ossessmenta, ~'ire, ~ad o~her 6aznrd insurance~ psemiqms; , ' (III) interest oa ihe note secured 6ereb~; and ~ _ (Ih amortizotion oE the ~iaclp~l of said note. ~ ~ ' Any deficieacy in the amount af snch aggregate monthly Qeyment shall, ualess made good by the matgagoc 4 prior to tbe due date of the aext such .p~yment, constitute an event d d~fault unde; this mortgage. The modgagee may collect a"late charge" not to exceed two cents (2~) for each dollar (SI) of each paymeat more thaa fifteen (15) days in arrears to caver tbe extra espense involved ia handling deliaquent payments. 3. That if the total of the peyments made by the mortgegor under (6) of parag,xaph 2 preceding shaU ezceed ' the amoont of peyments ectually made by the moctgagee, for p~rnu~d rents, taxes and assessments and iasurance ~ premiums, as the case may be, such e:cess shall be credited by the moctgagee on subsequent payments to be ~ made by t6e mortgagor. If, however, the moatWy payments made by the matgagoc under (bJ of paragraph 2 pre- ~ ceding ~shall- not be sufficieat to pay g~ound reats, tazes and assessmaats and ins~uance premiums, as the case ~ - mey be, ~vhen the same shall become due aud payable, t6en tbe mortgagor shell pay to the mortg,egee eay amount ; necessary to make up the deficiency, on ac befare tbe date when peyment of such g~ound rents, taxes, assessmeats, or insorance premiums shall be due. ff at any time the matgagor shall tender to t6e moctgagee in accordance vrith : t6e provisioas of the note secured heceby, fnll peyment of the eatire indebtedness represeated thereby, the mort- ~ gagee shall, in computing the amount of such indebtednesa, ctedit to the acconnt of the mortgegor all paymeats ~ made nnder the provisions of (a) af parsg~aph 2 hereaf whicb the moctgagee has not become obligated to pay to ~ the Secretary of Housing and Urban DeveloRment sad any balance remaiaing in tl~e fuods accumnlated'undet the ! provisions of (6) of said paragraph 2. If t6ere slwll be a default under any af the provisions of t6is moctg,age, re- ~ sulting in a pnblic sale of the premises covered dereby, oc iE the mortgagee acquires the Qroperty dhecwise after ` defaiilt, the matgagee shsll apply, at tbe time of the commencement of such proceedings oc at the time the prop- ~ edy is othecwise acqnired, the balaace then remaining ia tLe fund~ accumulated uader (6J of parag~aph 2 preceding ; as a credit against the amount of prln~ipal then remainiu~ unpaid under said note and shall pcoperly adjust any ~ payments ~vbich shall have been made undec (a) of said paragraph. ~ 4. That he ~rill pay all taxes, assessments, aat~ cates, and other governmental or municipal charges, fines, ~ a impositioos, for which provision has not been a~de hereiabefore, aad in default thered the mortgagee may pay ~ the aame; and that he will promptly delivec the afficial receipts Werefor to the mortg,agee. _ ~ aooK154 371 = ~ ^ - - - - +:=~..f. .._~~Y,'•~. P J~