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Home My WebLink About0576 , .S :;~f _ ; ~ ~ . i j~ ~'r~ ~ " . 1 . said matg~goc does hereby fully warcant the title to spid lond. and evecy p4d theceof. and will defead the same against tb?e lawful clslms of all pecsoas whomsoever. PROVIDED ALNAYS. a~d these presents ue executed and dellvered upoa tl~e followlns coaditlons. to wlt: The matgpgo~ ag~ees to pay the matgagee, a~ ordet. the peincipil suw of $I,~.'YHI T$~S~AD F(~T8 ~ OiW W/~W~ ~ ~ ~ ~ ~ w ~ ~ • ~ • • ~ ~ ~ ~ • ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ I~ollara (t 11~4~•~ as evideACed by • note oi evea date he~ewitli, witb iat~est ico~ d~ts ~t tl~e rste af S37[ P~r ceatum ( 6 7G) Per aanum on tha uapoid balaoce uattl p~id. The sald p~Incipal ead iaterest shall be p~yable at the office of 1~HATLEY~ ~YIU do CQI~ANY, 100 Yest Beyr Street in Ja~sonville~ F'lorids~ a at suc6 other place as the holder of the aote awy designate in writing. in moathlq iastallmeats af SIXTY-EIGST at~d 40~100- - - - - - - - - - Dollacs (t 68.40 coMOenct~.aa the tiest day oE JLtl,y . 1967 . and on the first doy of each month thereafter untll the pcicrclpol and iaterest are fiilly paid. except that the final paymeat of pcincipal and taterest. if not soa~er paid, ahaU be doe aad poqable oa the first day of ~e ~ 19~ : Aad shaU duly. pranptly, and fulty pedorm, discharge. execute. effect. complete, and comply wlth and abide by each aad every the stipulations, agreemeats. coaditioas. and covenants of said pcomissory note ood ~ this modgage. thea tbis matgage ead the estate hereby created shall cease and be nall. end void. And the matgagor further covenaats as follows: 1. Tbat he aill pay the iedebtedaess. es hereinbefore provided. Privilege~is reserved to pay tbe debt ia wbole. or in an amount equal to one or more monthly payments on the principal that ace next due oa !he aote. on the first day of eay maith prior to matnrity: Provided, however. that written notlce of ea inteation to exercise such privilege is given at lesst th~rty (30) days prior to prepayment; and, provided fudher. that in the eveat the debt is_ paid ia full prior to maturity and at that time it is insured nnder the provisioas of the Natioaal Housing Act. he wlll pay to the modgagee an adjusted premium charge of one per centum (1%) of the originel priacipel amount thereof, except that in no event shall the adjusted premium exceed the aggregate amount of premium cherges ~vhich would have been payable if the mortgage had continued to be insured until matnrity; snch payment to be applied by the mort- gagee upon its obligation to the Secretary of Housing and Urban Develop~aent on account of mortg,age ius~uance. 2. That. in order more fully to protect the security of this mortgage. the mortgagor. toget6er with, and ia addi- tion to. the monthly-payments under the terms of the note secured heceby. oa the first day of each month uatil the said note is fully paid, aill pay to the modgagee t6e follawing sums: (a) An amouat sufficient to provide tha hcf3cr hereo[ writh tuads to pa~ the next mortgage insnnnce premium if lhls inatra- meat and the aote secured hereby are insured, or • moathly charge (in lien ot a mortgage iasurance premium) i[ tLey are 6eW by the Secretary of Housiag and Urbaa Developa~eat, •s [oUo~rs: (I) It and so loog as said note ot evea date and this inswmeat are inswed or ~re reiraurcd under the provlsioas ot tbe Notioaal Housing Act. on amount sufflcient to nccu~ulate in the haads of the 6older one (1) month pdor to its dne date the annual mortgoge insuronce premlum, in order to proride wch hofder with [unds to par such prcmium to t6e Secretary ot Houaing and Urban Developmeet pursuant to the Natioa~l Honaing Act, as amended, ood appiicable Regu- latioos thereunder. or (In it and so long as said note ot even date aad Wta insteumeat are held by t6e Secretar~ ot Houaing +~ad Urb~n Develop- m~nt. .a monthlr charge (in lieu of a mortgage insucaace premium) wr6ich sball be in an amount equal to oaa-tweltth (1/12) of oae-half (K) per centum of the averaQe ontstaading balonce due oa t6e note coa?puted wiWont takina into account delinqueacies or prepaymeats; (6) A sum equal to We ground rents, it any, ae:t dne. plus We preminms tbat will nezt become due aad pa~rble on policies of fire and ot6er hu~rd insuraa: e coveria~ the mort~aged pwperty. plus taze• ~nd 4ssessments nezt dae on the morb ! gaged property (all as estimated bp the mortgaQee) lesa all wms atreadr paid there[or divided br tl~e anmber of oonths E to eUpse betore ooe month pHor to the datq whea such g~rouad rents, preminms, u:es, aad ~ssessments wrill becooe de- E linqueat, such sums to be held by mortgagee in Wst to poy said ~ouod rents, premiums, tozes. ~ndspecialassessmeab; ~ ~ r (c) AU paymenEs mmtioned in the two precedinB snbsections oi this pangnph and .u paym~ncs co be maae ~maer tbe ooce secured hercby shail be added together and tlie og~e~ate omount thereoi sdal! be paid by the mort~agor each moath in • ~ ~ single payment to be applied by the mort~agee to ffie tollo~vine items ia the order set forW: (n premium chuges under t!?e coatnct of iesurance ~nith the Secretary of Honsing Qad Urban Development, or ~onthly charge (in lieu of mortQaQe insuraace p~emium), as the case may be; (In ground rents. tazes, assessmeats, Cue, and other hasard iasurance premiums: (IIn interest on tUe note secured hereb~; and (IV) amortisatioa of the principal of said note. Any deficiency ia the amount af such aggregate montblq psyment shall, unless made good by the mactgagor prior to the due date of tl~e next such payenent; coAStitu~e an event af default under t6is matgage. T6e moctgagee may collect a"late charge" not to exceed two cents (2t) for eacb dollar (Sl) of esc6 peyment more thaa Eifteen (15) days in arrears to cover the estca expease iavolved ia handling deliaquent peyments. 3. That if the totel of the payments made by the mortgagor nnder (b) of para~ap~ 2 preceding s6aU e:ceed . the amount of payments actnally made by the matgagee, for Bround rents, taxes and a"ssessments and insnrance premiuais, as the case may be, such excess shall be credited by the matgagee un subsequent payments to be made by the mortgagor. If, however, the monthly paymenta made by tbe moctgagor under (6) of paragceph 2 pre- cediag shell aot be sufficient to pay g~roand reats, tazes and assessmaata and insurance premiums, as the case may be, when the same shall become due aal payable, tben t6e matgagor slsall pay to tbe mort~agee any amount necessary to awke np tbe deficiency, oa a befae the date w&en payment ~ sach g~ro~sd reats, tazas, assessments. ~ or insuraace p~emiums shall be due. If at any time tbe mortgagor shall tender to the moctg,~gee ia accada~e with the provisioas of the aote secured hereby, full paymeat of the e~ire iadebtedness repcesented thereby, tbe mort- gagee shall, in computing the amount of sac6 indebtedness, credit to t6e acconnt of the matgager all paymeots mode nnder the pro~viaions of (a) af pera~aph 2 hereo~f which the matgagee h~s not become obligatcd to payto tbe Secretary of Housing aad Urban Developaeat and anq belaace cemainiog in the fm~ds socumnlated mder the provisious af (bj of said paragraph 2. If there ahall be a def~ult under a~r of tlie provisioas af this oatgpge, ce- sultisg ia a public sale ot the premises coverod _?ereby, oc if the mat;ag~e acquires the property otbeewise after ~ default, We matgagee shell apply, at tbe time oE the commencemeat oE sach proceeding,s ar ai the tlme the pcop- erty is otheewise acqniced. the balanoe fhen nmaiaing ia tLe fnads sccnmulated nnder (bl ~ P~6?;P~ 2 P~~B ~ aa s~ credit ag,ainst t6e amonnt of principel tben remaining unpaid under said note and shall proparlyadj~t any paymeats a6ich sha116ave been made under (aJ of ssid paragrap6. 4. That be will poy all ta:es, assessments, water rates, and other governmental oc muaicipol cbarges, fines. oc impositiaaa, for which praviaian has aot been made hereiabefcce, and in defanlt thereof the mortga~ee ~y pay the same; and that 6e will promptly delivec the oEficial rtoeipts t}~erefor to the mortgpgee. ~ . ~1~6 ~ 574 . . . . ~ . . _ ~ s ~ _ ~ r: °Si~ s s _ A _