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said moctgagor does he~eby fully warront the title to said land, aad every pi?d thereof~ and ~rip defend the same
agai~st the laaful claims of e11 persons ~rhomsoever.
PROVIDED ALWAYS. and these pcesents are executed aad delivered upon the fo;lowing conditions, to wit:
The mortgagor ~g,~ees to pay !hc mortga~ce o: otder, the princlpal sum of
T8N '1~i0~SAND ~ Htll~ and 00~`l~,'^ .
Dollars (xI,Q~ (~QQ QQ as evideaced by e note of even dete herewith. wlth interest fryn date at the
rate of six axtd three-fout'th ~t ~~~cu~ ( 6 3/k per anaum aa the unpeid balance
until paid. The said prlacipal and iaterest shall be peyable at the o~ice of
STOCKTON~ I~LATLBY, DAYIN & 00[~PANY, 100 West Hay 3treet, Jackaonville, Florida 32Z02
oc at such other place as the holder of tl~e note may designate in arIting~ ia moathly installments of
SIRTY ffit~tT and 79~].(1l.~-- Dollars (t68.?9 commencing an
the first dey of IKS1~Ch 19 , and on the first dey
of each mont6 thereaftec uatil the principal
and interest are fully psid, except that the final payment of principal and Intecest. if not sooner paid. shall be due
and payable ae t6e first day of February, l~
And shall duly, pranptly, and fnlly perfam, discharge. execute, effect. complete. and comply with aad abide
by each and evecy the stipulations, agreements, conditia?s. and coveaants of said promissory aote aad of this
mortgoge~ then t~is mo~tgage and tbe estate hereby created shall cease end be null and void.
And the matgagoc further covenaats as follows:
1• Ths?t 6e witl pay the indebtedness, as hereinbefore provided. Priirilege+ is teserved to pay the debt in whole~
or ia an amount equal to one oc moce monthly payments on the principal that are next due on the note, on the first
da~ of any month prior to maturity: Pro~~idcd, however. that written notice of an intention to exercise such privilege
is given at least thidy (30) days priw to prepayment; and~ provided further. that in the event the debt is peid in
ful: prior to maturity and at that time it is insured under the provisions oE the National Housing Act, 6e will pay to
G~e modgagee an adjusted premium charge ot one per centum (I96) of the original principal amount thereof, exc~pt
that in no event shall the adjusted pcemium exceed the aggcegate amount of premium charges which would have
been payable if the modgage had continued to be insured until maturity; such payrt~ent to be epplied by the mort-
gagee upon its obligation to the Secretary of Housing and Urban Development on accouni of mortgage insurance.
2. That. in order more fully to protect the security of this mortgagt, the mortgagor, together with, and in addi-
tioe~ to. the monthly payments under the terms of the note secured hereby, on the first day of each month until the
said note is fully paid, vvill pay to the mortgagee the follaaring sums:
(o) An amount sutficieAt to provide the holder hereof with fuads to pay the ne:t mortgage insuraace premium i[ Wis iastru-
ment and the note secured hec~bq are iusured, or a monthly charge (in lien ot a mottgage iasuraece premium) if they ~re
held by the Secretary of Honsiag and Urban Development, as followa:
I[ and so long as aaid note oI even date aad this insWment ate iasnred or are rei~ured uader ifie provislons of the
Natlonal Houaing Act, an amount sut6cient to accumnlate In tlie 6anda of the holder one (1) mont6 pdor to its due
date the annual mortgage fnswaace premium, ia order to pwvide such holder witL tuada to pay sncb preaiium to ffie
SectetAry o[ Housiag and Urban Develoqnent pursuont to the Nottonpl Housiag Act. as ameadad, and applicable Regw
latioas theieueder; or
(II) I[ and so long aa said note o[ even dste a~ this iasWment ue beld by the Sectetaty of Honsing and Utban Develop-
- aneat. a monthly charge (Ia lieu o[ a moet~age iasurance premium) which shall be In tn amount equal to one-hvelfth
(1/12) ot one-ha]f (~/i) per centnm of the avenge outstanding balance dua on the aote compated without taking into
account delinqueacies oe prepayme~s;
(b) A sum equai to the gro~md rents. it aer. aezt due, plus t6e premiums t6at wilt neut become dne snd payable oa policies
of fue and other hazard insuraoce coverioQ the mortgoged propedy, plus ta:es aad asscsaments ne:t due on the mort-
gaQed property (all as estimated by tbe mortgagee) leas all sums alcead~ paid thereEoe divided b~ the anmber ot monffis
to elapse before oae mont6 prior to t6e date wheo such ground rents. pr~emioms, tues~ aad assessments will become de-
linqueat, such sums to be held b~ mo~tgagee in tmst to pay aaid ground rents, premiuaas. tues. aad specLl asstssmeats;
oad
(c) All payments mmttoaed ia the tao ~ceeding aubsections of thIs paragr~pb snd all pa~meats to be made uoder t6e note
secured hereby shall be added togethet aod the aggReQate amouat thereof shall be ptid b~ the mortgagor eadt montb [n •
single payment to be applied by the mortgaQee to ffie [ollo~ving items in the order set [orth:
(n premiam chargea under We contract of insurance wiU? the Secrctat~ of Nonsir~ and Urbaa Developmeat, or montbl~
charge (in lien ot mortgage insurance pemium)~ os the case ma~ be;
(II) gromd rents. taxea, assessmeats. (ire, ~nd ot6er hasard inaucance preminms;
(III) Intereat on the note secured hereb~; aod
(I{~ amortia4tion of t6e princip~l of uid aote.~
Any deficiency in the amount af snc6 aggregate moathly payment shell, unless made good by the moctgagor
prior to the due date of the next such paymeat, constitute ,an event of default uader t6is mortg,age. The modgagee
may collect a"late cherge" not to euceed t~vo cents (2~) foi eacb dollar (Sl) o~ each payn~eat nwce than fikeen
(15) days in anears to cover the estca e:peose involved ia handling delinquent payments.
3. Tha! if .the total of tbe peyments made by the modgagor nader (b) of pacagaph 2 pceceding shall e:ceed
the amount ~ paymeats actually made by the moctgegee, for gronnd rents, tazes and assessments and iasurance
premiums. as the case may be, spc6 e:cess shall be credited by the mortgegee oa subsequent payments fo be
made by the moctgagor. 1f, hawever, t6e mont6ly payments made by tbe matgagor andec (b) of paragraph 2 pre-
ceding shall not be sufficient to pey grau~d rents, Laxes and assessments and insurance premiums, as the cese ~
may be, when the same shall becane dae and peyable, then tbe mortgagor shall peq to the moctgagee aay amount
necessary td make ap the deficiency, oa or before the date when paqment of snch ground rents. t~es~ assessments,
or insucence premiaena shall be dne. If at aay time the mortgagoc s6all tender to tbe moetg~gee in accordance with
the pcovisioas of t6e note secnred berebp, fnll p~ymeat of the entire iadebtedness represented thereby, tbe mort-
gagee shall, in computi~g t}ie amount .of.such.indebtedaess, eredit to the sccount af the ma~tgagoe all pe~ments
made under the pravisions of (a) cf parag~aph 2 bereof ahich the matg,agee has not become obligated to pay to
the Seccetacy of Housing and Utban Development and aey balance remaining ia t6e fnnds accumaleted nnder the
provisions o# (b) af said pacagraph Z. If there shell be a defsult andes any of the pcovis;ons af tbis matpge, re-
sulting in a pnblic sale of tbe premises covered :~raeby, ae if tbe matgagee acquires the property othersis,e after
default, the mortgagee shall apply, at tbe time of _th~ commencemeat af snch proc~ding,a oc at the time the prop-
erty Is othenaise ecqaired, tbe belance tl~ea remainiag in tbe fnnda acc~mulated nader (b) af P~BtePb Z P~d~B
as e credit ag,ainst tbe amonnt of prlncipel tben remaining unpaid under said note and shali pcoperlyadjnst eny
paYmeats wbich shall•have beea o~de uada (a) af said p8reg~aph• ,
4. That be will pay alt ta~ces, sssessments, water rates, and other governmental a municipel charges, fines,
or impoeitioas, for whic6 pravisian has cat been made hereinbefare, and in default thered the mortgegee swy pay
the same; and that be will promptly deliver t1~ dficial ceceipts therefor to t6e mort~agee.
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