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said mortgagur does hereby fully watraat the titte to said tand. aad evecy pact thereof~ and will defend the same
against the lawfui ct~ims af atl persaos whomscever.
PROVIDED ALWAYS. and tbese pcesents are executed and deliveced upon the following conditions. to wit•
The mottgagor agcees to.pay t6e matgagee. os order~ the pciacipal sum oi ~ _
a~ ~saQStBD s~c aQxnssu ~r ~a oo/loo-----------------------------------.. -
noi~~ (s 9,650.00 as evideaced by a note ot evea date berewith~ wit6 interest from date et the
~ate of SiY per ceatum ( 6%) per annum on the unpaid batance
uatil paid. Tbe said principel aad iatecest shall be payable at t6e oEfiGe of ~ ygSTj~g~~ ~yIp ~
C~IPANY, 100 Mest Be~y Street, Jecksonville, Florida
or at suc6 othet place as the holder of the aote may desigpate in writing. in monthly installments of
FlFTY SBVST 8ud 90~100----------------Dollars (s ~•90 com~uencing on
We first day of QCtober . 19 67 . and oa the first day of each month thereafter until the principal
and interest are fully paid, e:cept tl~at the final paymeat of principal aad interest~ if not sooner paid, shatl be due
aad payable oa t6e Eirst day of geptember, lg9? _
And shall duly. promptty. aad fully perform, discharge, execute, effect~ complete. aad comply with and abide
by each and every the stipulatioas, ag~reecnents, coad'etioos, aad covenants of said promissory note and of this
modgage. then this mortgage aad tbe estate hereby created s6a11 cease aad be null and void.
And tbe mwtgagor fudher coveaaats as follo~vs:
1. That he will pay the iadebtedaess, as hereiabefore pcavided, Pri'vilege is resewed to pay the debt in whole.
or ia an amount equal to one oc mae maathly payaents on the priacipal t6at are next due on the note. on the first
day of aay month prioc to matnrity: Provided. ho~vever. that written notice of an inteation to exercise such privilege
is givert at least thirty (30) days pria to prep~yment; and, provided further, that in the event the debt is paid in
full prioc to maturity aad at that time it is insured under the provisions of the National Housing Act, he will pay to
the moctgagee aa adjusted premium chacge of oae per ceatuan (1%) of the original principal amount thereof. except
that in ao event shall the adjusted premium eYCeed the aggregate amouat oE premium charges which would have
been payable if the mortgage had contiaued to be iasured unlil maturity; such payment to be applied by the mort-
gagee upo~ its obligatioa to the Secretary oE Hoasing and Urban Developmeat on account of modgage insurance.
2. That, ia order moce fnlly to protect tbe secatity of t6is martgage. the martgegor. togethec with, and in addi-
tioa to, the monthly paymeats nader the terms of the note secured heceby. on the first day of each month until the
said aote is fully paid, will pay to the awctgagee the followueg suns:
(oJ An amount sutiicient .to pro~Ide tbe holder beteof with [nods to pa~ the cext mortgage insuraace premium it this instru-
ment andthe note secared hereby are inaured, or a mot?thl~ c6ugc (in lieu of 4 mortgage iasurence premium) if they are
held bp the Secretery of Houata~g and Urb~n De~elopmeat. ~s follows:
(I) Lf and so loag as said note of eren date and tbis instru~eot are insnred or ate reinsured under the provisions ot the
Nationrl Housing Act. an asomt snt6cient to accmm~l~te In !6e hands of the holder one (1) month priot to its due
date t6e ~nnurl moctg~ge L~surance premtu~. ia order to provide mch 6older wlth fands to pay suchpremium to We
Secretarp of Housiag and Urban Developmmt purwaot to fhe Natioual Housing Act. as amended. and applicable Regu-
lations thercander; or
(IIj I[ aed so toag os said n~e o[ eren date and tbis insliumeat m 6eld bl tbe Secretary of Houaing ond Urbaa Develop-
meat. a monthly charge (L~ lien o[ a mort~e insnnnce ptemaum) w6ich shall be ia an amount equal to oae-twelfth
(1/12) ot one-6alt (y4) per ceatom of t6e a~eraQe outstanding balance dae on ihe aote computed without takiag into
account delinqnenciea or prepapmeats;
(6) A sum equal to the gm~md rents, if aar, nezt due. plns H~e premiuss tLat wi11 nen become due and payable on policies
of fue and other 6asard insurance covering tbe mortgaged peope~. plus ta:es and essessments nezt due on the mort-
gaged propertr (a11 as estimated b~r tlie mortgagee) less all soms a2read~r paid therefor divided by the numbcr of months
to elapse be[ore one moath prio~ to the date when such g~ound reets, premiums, tases, and assessments will become de-
linquent, such sums to be 6eld by mortgagee in trnst to pay said gq~ound reats, premiums, tazes. and special assessmenta;
and
(c) All payments mentioaed in the two preceding sabaections of this parsgrap6 and alt psyments to be made under t6e note
secured herebr shall be added toget6er amd tbe aggFegate amaunt thereof shatl be paid by the mortgagor each month in a
single paymeat to be applied by the mortgagee to t6e tollo~ving itema in the order set torth:
(n premium charges under the contract of msurance with the Secretary of Housing and Urban Development, or monthly
charge (ia lieu of mortgage insorance premium), as the case m~y be;
(II) ground rcnts, ta:es, assessments, fire. and otLt~ hasard insarance prea?iums;
(IIn interest on the note secured 6ereby; and
(IV) amortization o[ the princlp~t of said note. _
Any deficiency in the amonnt af snch aggregate monfhly payment shall, unless made good by the mortgagor
prior to the due dafe of the next such peyaoent, constit~e an event of default under this mortgage. 'fhe modgagee
may collect a"late charge" not to eaceed two ceets (2f) fa~ esch dollat (S1) of each payment more than fifteen
(15) days in anears to cover tbe e~ra expease involved ia handling delinqaent payments.
3. That if the total of t6e payments made by the modgagor nnder (b) of paragraph 2 preceding sha11 exceed
the amonnt of payments actually made by We matgagee, for grau~d rents, taxes and assessments and insurance
premiums, as the case may be, such e:cess shall be credited by the mortgagee on subsequent payments to be
made by the mortgagor. If, ho~ever, the monthly payments made by tbe matgagor under (b) of pacagrap}~ 2 pce-
ceding shall not be sufficient to pey g~o~nd reats, taxes and assessments aad insurance premiums, as the case
- may be, when the same shall become due aad payable, then the martgagor shall pay to the mortgagee any amount
oecessary to make ap the deficiency, on or befac~e tbe date when payment of suc6 ground rents, taxes. assessments,
or insurance premiums shall be due. If at any time the mortgagvc s6a11 tender to the mortgagee in accordance with
the provisioos of the note secnred Lecebq, fnU payoent of the entire indebtedaess represented thereby, the mort-
gagee shall. in coroputing the amoant af such indebtedness. credit to tbe acconnt of the mortgagor all payments
made uader the Qrovisions of (aJ of p~ragraph 2 he:eof which tbe mortgagee has not become obligated to pay to
the Secretary of Housing and Ucban Development and eny balance remainiag ia the funds accumulated under the
provisions of (bf of said parag,cap6 2. If there shell be a default uader any af the pcovisions of this moctgage, re-
sulting in a Qublic sate of the premi,ses covered xceby, oc if tbe mo~tgsgee acquires the property other~vise after
default, the moRgegee shell apply, at t6e tia~e af tbe commencemeat of snch proceedings or at'the time the prop- ~
erty is othenvise acquired, the belance then reoaining in the fmds aocamulated under (b) of paregFaph 2 piaceding
as a credit ag,ainst the amount of priocipal then remaining napeid ander seid note aad shall properly adjust any
paymeats which shall have beea mede uadex (oJ d said pocagrap6.
4. That be will pey oIl taxes, assesseents, water rates, and dber govemmental or municipe) charges, fines.
oc impositioas, for w6ic6 provision has aot beea made 6ereiabefare, and in default thereaf the mortgagee may pay
the same; and that be AiU promptly deliver the official receipts thecefoc to the mortg,egee.
S~ 167 ~ i8 ~ . .
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