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Home My WebLink About0718 ~ . . • . . . , . . i. ~ 3 ~ ~ ~ said mortgagor does hcreby fully warraat the title to said land. and every part thereot~ and will defend the same egaiast the lawful claims of all persoas whomsoever. - PROVIDED ALWAYS, aad these preseats are executed and delivered upon the following coadltior?s. to wit: The matgagor agRees to p~y tl~e mat~agee, a ordet. the priacipal sum of '1'IILRTE~T T$pII$AND T~E ~ HITNDR'ED and 00~100-•-----------------------•------------------~---------------- notm~ (s 13,3~•00 as evideaced by ~ aote ot evea date herewith, with interest from date at the rate of aix and thrae Sourths per ceatum ( 6 dc 3~4 9G) pec annum on the uapaid balance untll peid. The said principel aad interest shall be poyable at the office of STOCj~R'C~= WBATI~Y~ IaAVIN & COI~'ANY, at 100 West Bay Street, Jacksonville, Florida ac at such other place as the holder of the note may desigpate ia writiag. in monthly installments of EIG$1'Y- SIR 8nd 32~100-------=-------------------- Dollars (S 86.32 commenciag on the first day of Ootober , 19 68, aad oa the first day of each month thereafter uatilthepri~ipal and iatecest aee fuUy paid. e:cept that the final paymeat of principal and interest. if not sooner paid. shall be due and payable on t~e tirst dey of Sept ember, 1998 : And shall duly. promptly, and fnlly pedors, dischacge, esecute. effect. complete. and canply aith and ebide by eac6 and eve:~ the stipulations. a~reemeats. caditiaas. and covenants of said pcomissory note and of this mortgage. thea this mortgage and tl~e estate hereby cceated shall cease and be null and void. Aad the mortgagor f~uther covenants as follows: 1. That he will pay the indebtedness, bs l~ereinbefore provided. Priirilege is reserved to pay the debt in whole, or in an amount equal to one oc mae monthly payments on the principal that are next due on the note~ ou the first day of eny montb prior to matncity: P~ovided, hrnvever, that writtea aotice of an intention to exercise such privilege is given at least thirty (30) days pria~ to prepayment; and. provided f~uther, that in the eveat the debt is paid in fuU prior to maturity and at that time it is u?s~ued under the provisions of the National Housing Act. he will pay to the modgegee an adj~ted premiam charge of oae per centum (1X) of the original principal amount thereof, except . that in no event s6a11 the adjusted premium e:ceed the aggregate amonnt of premium charges which would have beea payable if the moctgage had continued to be i~ured uatil maturity; such payment to be applied by the moct- gagee upon its oblig,atioa to the Seccetary of Housing aad Urban Development on account of mortgage insucance. 2. That, in ordet more fuUy to protect the security of this mortgage. the modgagor, together aith, and in addi- tion to, the moathly paymeats nnder the tecros of t6e nde secured hereby, on the first day of each month until the said note is fully paid, wiU, pey to the moctgagee the follaving sums: (u) An emouat suHlcient to provide tLe 6oider hereof wit6 tunda to pay the ae:t mortgage insurance premium if this instru- meat andthe note aecured 6erebr are insured, ot a monthly chuge (in Iieu of o mortgage insurance premium) if they are held by the Secretary of HousinQ and Urb~n Devdopment, as tollows: ~ (I) If and ao lonQ as said note of evea d~te sod tbis insWment ore insured or are reinsured uader the pmvisions ot the ~ Natioaal Honslag Act, aa omount sufQcieat to accnmulate in the haads of the holder oae (1) moat6 prior to its due dote the aanu~l mottgage insnronce premium, in order to provide such 6older with funds to pay such premium to the Secretary o[ Houslag and Urbon Development pursuaat to We Natioaal Housing Act, as ameaded, and applicable Regu- lations thereundcr; or (II) IE aad so long as said note a[ even date oad tlus iastmmeat are 6eld by the Secretary of Housiag and Urbaa Develop- ' ment, a monthlr charge (in lieu of a morteage insutance premium) w6ich shall be in an amount equal to one-twelft6 (1/12) ot one-holf (y~) per eeaWm of the average outstaading balaace due on the note computed without taking into account deliaquencies or prepapmeats; - (6J A sum equal to the ground reata. if anr, nezt dne, plus t6e premiums that will next become due aad paypble on policies I ~ of ~re and other hazard iasaraace covering t6e mortgaged property. plus tazes and assessmeats ne:t due on t6e mart- E f gaged ptoperty (all as eatimated b~ 1Le mortgagee) less all sums already paid theretor divided by the number ot months : ~ to elapse before one moath prior to the date w6ea such gFound rents, premiuma, ta:es, and assessmeats will become de- i ` linquent, such swoa to be held by mortgagee in trust to pay said ground rents, premiums, tazes, and special assessments; ' ~ and (c) All payments mentioaed in the two preceding subsectioas ot this peragraph and all payments to be made under t6e note secured herebr shall be added together and tLe aggle~ate amount thereot shall be paid by the mortgagor each month in a single payment to be applied br ffie mortgagee to tLe [ollowring itema ia tLe order set torth: (n premium charges under t6e contract of insu~ance witb the Secretary of Housi~ aad Urban Development, or monthly charge (in lieu of mortgage insurance preminm), as the case may be; ~ (II) ground rents, ta:es, assessments, Cue, and ot6er_ hazard inenraace premiums; (III) interest oa the note secured hereby; and (IV) amortisation o[ t6e princip~l. of sud note. Any deficiency in the amamt of such aggcegate mont6ly payment shall, unless made good by the mortgagor prior to the due date of "the next such paymeat, coostitute an eveat d default under this mortgage. The modgagee may collect a"late charge" not to e:ceed two cents (2¢) for each dollar (Sl) of each payment more than fikeen (15) days in arcears to cover tbe extra ezpense involved in handling delinquent payments. 3. That if the total of the payments made by the modgagor under (bJ of paragraph 2 preceding shall exceed the amount ~ payments actually made by the mactgagee, for gcound 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~ hoWever, the monthly paymeats made by the mortgagor under (b)of paragraph 2 pre- ceding shall aot be sufficient to pey gxound reats, taxes and assessments and insurance premiums, as the case may be. when the same shall become due and peyable, then the matgagor shall pay to the mortgagee any amount ~ necessary to meke up the deficiency, on oc beEore the date when payment of such ground reats, taxes, assessments, ; ~ or insurance premiams shall be due. If at eay time the mortgag~ shall tender to the mortgagee in accordance with ; the provisions of the aote secnred hereby. fall payment of the eatire indebtedness represented thereby. the mort- ~ gagee shalt, in compnting the aawunt of such indebtedaess, credit to the account of the matgagor all payments ' made under the grovisions of (a) af paragcaph 2 heceaf w6ich the matgegee has not become obligated to pey to the Secretary of Housing and Urban Development aad any balance remaining in the funds accumulated upder the provisions of (b) of seid paragraQh 2. If thece shall be a default under any of the provisions of tbis mortgage, ce- sultiag in a public sale of the premises covered :~ereby, oc if the mortgagee acquires the property othenvise after default, the mortgagce shall applq, at the time of tbe commencement of such proceedings a at the time the prop- edy is othetwise acqnired, the balance tben remaining in the fnads accwnulated under (b) of paragraph 2 preceding as a credit against the amo~nt of principel tbea remaining unpaid under said note and shall properlyadjust any peymeats which shall have been made nader (a) of said para~raph. ~ 4. T6st he will pay all tases, assessments, aatet rates. and other governmental or municipel cherges, fines, t or impositioas, for ~vhich pravisioa has not been made hereinbefae, and in default thereoE the mortgagee may pay ~ the same; and that he will promptly deliv~ the dficial receipts therefor to the modgagee. ! ~ 140K PJICE 71O . ~