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Home My WebLink About0666 . . . _ ~ ~ said :_:::~;~:g~,r does heceby full~~ wari.~nt the litle to said land, and evecy patt theceof. and will defend the same egains~ the lawEul claims ot all persuns whomscever. t'i:U\'ID~D A1.lYAYS. and tl~ese prrsents are executc~! and delivered upon the following conditions, to wit; '11.,: a:ortgegor agcees to pay the moitgagee, or order, the principal sum ot ?80~il~ ~ H~AD~ED FIlTY a4d 00/100 ~ - - - - - - - - - - - - - - - - - , _ _ _ - , , ~ _ _ DoU..w (S 10~650.00 ~as evideaced by a note _oi even a e here~ilh, with interest from date at the ~ate ~i si7c pec centum ( 6 9f.) per annum oa the unpaid balance until ~..~?d. The said pcincipal and interest shall be payao:e a! the office of 8Z''OCxTOl1. MIDITIBY, O~IVIDt ~ CaM~J1~lY. 100 Nsst Bny Streat in J~ck~onvills, l~lari~da a at ~nc6 other place as the holder of the note may designate in writing. in monthly installments of 8I~''1'~t apd 9~1/100- • - - - - - - - - Dollars (S 63.90 commencing on the_ti~st day of ~uguit , 19 68, and on the first day of each month thereafter untiltheprincipal and int~rest are fully paid, except that the final payment of principal aad interest, if not sooner paid. shall be due aad pa~~able on the first dey of Jt11p, 1998 ; And shal! duly. promptly~ and fully perform, discharge. execute, effeet. complete. and comply with and abide by each and every the stipulations, agreeaieats. conditions. aad covenants of said promissory note and of this mortgage. then this mortgage and the estate hereby created shali cease and be null and void. And the mortgagor further covenants as fotlows: - ~ i. That he witl pay the indebtedness. as hereinbefore provided. Privilege is reserved to pay the de~i in whole. or in an amount equal to one or mae monthly payments on the principel that are next due on the note, on the first day of any month prior to maturity: Provided, however~ that writte~ notice of an intention to execcise such ptivilege is given at least thirty (30) days prior to prepayment; and. provided [urther, that in the event the debt is paid in fuli pri~r to maturity and at that tiaoe it is insured under the provisions of the National Housing Act, he will pay to the mortgagee an adjusted premium charge of one per centum (196) of the otiginal principal amount thereof. except that in no event shall the adjusted premium exceed the aggregate amount of prea:ium charges which would have been payable if the mortgage had continued ta be insured until maturity; such payment to be applied by the mort- gegee upon its obligation to the Secretary of Housing and Urban Developanent on arcount of mortgage insurance. 2. That. ia order more fully to protect the security ot this mortgege, the modgagor, together with. and in addi- tion to, the monthly payments tu~der the terms of the aote secured hereby, on the first day of each month until the said note is fully paid, will pay to the mortgagee the folloaring sutos: (uJ Ao amount sufticieat to provide the 6older 6ereof with funds to pay the aext mortgage insurance premium it this insw- ment aad t6e note secured hereby are insured, or a moatl~ly char~ee (in lleu ot a mortgage iasurance premium) if they are held by the SeCretarp of Housing ond Urban Development, as follo~ra: (I) It and so long as soid aote o[ even date ~nd this insttumeat tre insured a~ are reinsured under ihe provisions o[ the ~Iatio~u! Rousing Act, an amount sutCcieot to accumulate in the 6ands cf t6e holder one (1) month prior to its due date the annual mortgaQe insurance premium, in order to provide such holder aith funds to pay sqch preunium to the Secretary ot Housing aad Urban Developmeat pursuant to the N~tioaat Housing Act, as amended. and applicable Regu- lations ffierennder; or (II) It and so loag as said note of even date and this instrument are held bq the Secretary of Housing and llrban Develop- ment. a month[y charge (in lieu of a mortgage insurence preiaium) ~rhich shall be ie aa am~unt equal to one-twel[th (1/12) of oae-6alE (yi) per centum ot the average outstaadiag balance due on t6e aote computed without taking iato account detlaquencies or prepaymenta; (b) A sum equal to tl~e Qround rents, iC aay, next due, pius fhe peemiums tLat will eext become due and payable on policies of Cue and ot6er h~zard insurance covering the mortgaged property, plus ta:es a~d assessments ne:t due on the mort- gaged property (all as estimeted by the mortgagee) less all sams already paid there[or divided by the number o[ months to elrpse before oae mmth prior to the date when such ground rents, premiums, tpxes, and essessments wi11 become de- linqueat, such sums to be held by mortgagee in trust to pay said ground rents, premiums, tazes, and special assessments• and ~ (c1 AI[ paymenta mentioned in t6e tao preceding sabsections of t6is patagraph ond all payments to be mode under the note secured hereby aha~ll be added togetber md t6e aagiregate amoont t6eceof s6all.be p~id by t6e mortgagor each modth in a single payment to be applied by,t2~e mortgagee to the [ollo~vinQ iteaas in the order set [orth: (i) p~emium charges nader We contract of insurance w+it6 t6e Secretrry of Housiug and Urban Development, or monthly c6arge (in lieu of mort~aQe insnrance premium), •s the case m~y be; ~ ' (II) around rents. ta:aa, srsesaments, [in. and otLer hazard inaurance premiums; (III) intcrest on the aote seculed l~ereb~; aad (i~ amortization o[ t6e prlacipal ot sald note. ' ' Any deficiency in the amoant af sac6 aggregete monthly paymeat shalt; unless made good by the mortgagor prior to the due date of tbe ne:i such peyment. coostitute an event of default under this mortgage. The mo~tgagee may collect a"late charge" not to esceed two cents (2t) fa esch dollac (Sl) of each payment more than Eifteen Q5) days in arrears to ~over the extra expease involved in handling delinquent payment~. 3. That if the total of the paye~eats ~eade by the matgagor undet (b) of p4ragReph 2 pceceding shall exceed--" the amount of paymeats actually made by the matgagee. fa ground rents, taxes and essessments and insurance premiums. as the case may be. such excess shail be credited by the mortgagee on subsequent payments to be made by the mortgagor. U. l~owever, the moathly payments made by the mortgagor under j6) of patagraph 2 pre- ceding shal! not be sufficient to pey ground rents, taxes and assessm~~nts aad insurance premiums. as the case may be. when ihe same shall become due and poyable. thea the matgaga shall pay to the moctgagee a~y amount nccessary to make up the deficiency, on a 6eEae tbe date ahen paymeat of such ground rents~ taxes, assessments. ~ insurance premiums shall be due. Ii at any time the mortgagor shall tender to the modg,egee in accordance with the pcovisions oE the rtote secured hereby, fnll pey~oent ot tbe entice indebtedness represented thereby. the mort- g~gee ahall, ia coenputing the amount d snch indebtedness, credit to the accaunt d the matgagor all peyments made under the provisiaaa of (a) of po:agraph 2 hereof whicb tbe matsogee Iws noi become obligated to poy to the Seccet~ry of Housiag and Ucbaa Developmeat aad aay balance reawining in the funda accumulated unde~ the provisions of (bJ of said paragrapb 2. If there c6a11 be a def~ult updet any of tbe pcovisioas of tbis mu:t~age, rr sulting in a pnbtic sale of tbe premises covered x~by, a if tbe mortga~ee acquirea the ?ropecty othe~wise after default. the e~ortsagee shall apply, at tbe tia~e ot tLe commeacemeat oE such pcoceedings or at the time the prop- erty is othecwise aequiced, the balance then reawining in the fnnds occua~ulated unrler (bJ of paragraph 2 pcecedin~ as a credit against the amouot ot principal tben reaooining unpaid undec said oote and shall properly adjust any poymeats Mhicb shal! lwve beee~ awde uader (a) d said p~ragrsph. 4. Tbat he ~?ill Qay all taxes, asaessa~ents, woter rates, and otbet ~overnmental or municipol charqes, fines, oc impositiaos, Eoc which pravision haa eot been msde hereinbeEae, aad in defautt thered the mort~a~ee ~aay pay the saae; and that he ~vill praoptly deliver tht dficiol receipts tberetoc to the moctgpgee. ' ~~172 ~ 6f ~ 1~ = ~ ~ ~ _ : .~.~ry _ _ ~:s . . ~ _ _ ~ : _ ~'-`S