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~-a:d matt,~~gor do.~~ hereAg fuli~ :~anant rhP t~tle to se~d ;~.nd. and erwr~~ pact tF.e~cw, snu ~vill detend ~he sa:ne
.,~aintt ti~e l+~~cful cl:,~ma u( all }~rcuns a•homsc~ver.
PFOVIDE:D dLt1AYS. and the~P prr~Pnta are executed and 3~1~~•ercd upc+n the following ronditions. t~ wit:
7hr mottq~,Ror ag~ees to pa~ the rr.utt ce o~ order. ~he principal sum ai
~vsrt ~xoc~rID Snc xtn~sn ~i ~oJi
D0~~3K (S ~~WV.00 )..as e.•~denced by o nac of eve~ date herev?ith, a~th interesl fcum date at the
rate ot ~ thl'ee YOUrth per centum ( 6 3~i1~ per annum cm ,he unpaid balance
until paid. Tlie said pri~cipal end inlerest shall be pa~•able at the o(fice oE S'TOCI~TON~ iiNATLSY~ IaAVIN ~ C~AI~Y
100 ilest Bs~y Street Jacksonville, Florida 32202
or et sucb other place as the holder of the note may designate in writing. in m~x?thl} installm~nts ot
~~g~g ~ 2g~ Dollars (S 75.28 coma~encing on
the first day of ~ , i9 bq , and un the first dar ot each month thereafter until the principal
and interest ere fully paid. except that the final payme~t of principal and interest, if not sooner psiid. shall be due
and payable on the Eirst day of Apl'il 1~ : . -
And shall duly. promptly, a~d fully perlo~m. discharge, execute, effect. complete. and comply with and abide
by each and every the s~ipulations. agreements, conditions, and co~enants of said promicsory note and of this
mortgage. then this modgage and the estate hereby created shall cease and be null and ~oid.
And the mortgagor furiher covenants es follows,: .
1. That he will pay the indebtedness, as hereinbe[ore provided. Privilege is reserved to pay the debt in whole.
or in an auwunt equal to one or more monthly payments on the principal that are next due on the note, on the first
day of ar?y month prior to maturity: Nro~•tdrd, however. that writtr~~ notice of an intention to exercise such privilege
is given at least thirly (30) days prior to prepayment; and, provided further, that in the event the debt is paid in
full pcior to maturity and et that time it is insured under the provisions of the National Housing Act. he wiil pay to
the mortgagee an adjusted premium charge of one per centum (lp) of the original principal arnount thereof. except
that i~ no e~ent shall the adjusted premium exceed the aggregate amount ot premium charges which would have
been payable iE the moctgage had continued to be insured untit maturity; such payment to be applied by the mort-
gagee upon its obligation to the Secretary of Housing and Urban Development on account of mortgage insurance.
2. That, in order mote fully to protect the security ot this mortgage, the mortgagor. together with, and in addi-
tion to, the monthly payments under the terms of the note secured hereby, on the first day of each awnth until the
said note is fully paid, wit2 pay to the mortgagee the [ollaving sums:
~"a/ An amounl sufticient to provide lhe holder hereo[ writh (unds to p~y the ne:t mortgage u?surance premium if this instru-
ment andthe note secured hereby arc insurrd, or a monthly charge (in lieu of a mortgagr insurance premiue~) it thep are
hetd by the Secretory of Housing and UrDan Development, aa follows;
(I) I[ s~d so long as aaid aote of even date and this instrume~t are insured or are reinsured under the provisions o[ the
National Housing Act. an amuunt sufticient to accumulate in the hands•u( Ihe holder one (1) month prior to its due
date the annual mortgaQe insurance prem~um. ia order to provide such holder with fuads to pay sucbpremium to the
Secretary of Housing aad Urbaa Developmrnt pursuanl to the I3ational Housing Act. as amended. and applicable Regu-
latioas thereupder. or
(II) 1f and so long oa said eole of eve~ Jate and this instrument are held by the Secretary ot Hou~ing and Urban Develop-
ment, a monthir charge (in lieu of a morigage insurance premium) ah~rh shall be in an amount equal to ene•tweltth
(1; 12) oE one-hdf (ys) per centum ot the avengr outstanding balance due on the note cumputed writhout taking into
account delinquencies or prepaymeats;
(h) A sum equal to the ground reals. i[ ony, ne<t due. plus the premiums that witi ne:t become due and payable on pulicies
of tire and other hazard insuiance covering the mortgaged property. plus te:es and assessments next due on the mort-
gaged property (all as estimated by the mortgagee) less all sums already paid therefor divided by the number of months
' to elapse betore one month pdor to the date when such grouad rents, premiums, tezes, ~nd assessments will become de-
~4 linquent, such sums to he held by mortgs~gee in tmst to pay said ground rents, premiums, taxes, andspecialassessmeats;
~ and ~
(cJ All payments mentioned in the fwo preceding subsectioas ot this paregraph and all paymrnts to be made under the note
~ secured hereby shall be added together and the ~ggreg~te amount thereot shall be pa~d by the mortgagor each month in a
single payment to be ~pplied b~• the mortgagee to fhe tollowing items in the order set [orlh:
(I) premium charges uader the contract o( insurance with the Secretary o[ Housing and Urban De~elopment, ur monthly
~ charge (in lieu ot mortgaQe insurance premium), as the case may be;~
(II) ground cents, tazes, asseasments, tire, and other hazard insurance premiums;
(III) intercst on the note secured hereby; and
(1~ amortization o[ t6e principal of said note.
Any deficiency in the~ amoant of such aggregate monthly payment shall, unless made good by the mortgagor
prior to the due date of the aeat such payment, constitute an event of default undec this mortgage. The mortgagee
may collect a"late charge" not to exceed two cents (2Q) fw each dollar (Sl) of each payment mae tban fifteen
(15) days in aneacs to cover tbe extra expense involved in handling delinquent-payments.
3. That if the total of the payments made by the mortgagor under (b) of paragraph 2 preceding shall eaceed
the amount of paymeats actually made by the mortgagee, for ground rents, taxes and assessments and insurance
premiums, as the case may be. such excess shall be credited by the mortgagee on subsequent payments to be
made by the mortgagor. If, however. the monthly payments made by the mortgagor under (6J of paragraph 2 pre-
ceding shall,not be. sufficient to pay ground rents, taxes and assessm~~nts and insurance premiums, as the case
may be, when the same shall become doe snd payable, then the matgagor shall pay to the mortgagee any~ amount
necessary to make up the deficiency, on or before the date when payment of such ground rents, taxes, sssessments,
- or insurance premiums shall be due. It at any time the mortgagor shall tender to the mortgagee in accordance with
the provisions of the note sscured hereby. fui! payment of the entire indebtedness represented theceby, the mort-
gagee shall, in computing the amount of such indebtedness, cre~it to the ac~ount of the mortgagor a11 payments
m~de under the provisions of (u) of paragraph 2 hereo[ which the mortgagc •:as not become obligated to pay to
the Secretary of Housing and Urban Development and an~~ balance remainin_ the furtds acsumulated under the
provisions of (6J of said paragraph 2. If there shall be a default under any vf the provisio~s of this mortgage, re-
' sulting in a public sale of the premises covered ~ereby, or i[ the mortgagee acquires the property otherwise after
default, the mortgagee shall apply, at the time of the commencement of such proceedings or at the time the prop-
edy is otherwise acquired, the balance then remaining in the funds accumulated under %b) o! paragraph 2 preceding
as a credit againsC the amount of prIncipal then remaining unpaid under seid note and shall properlyadjust aay
payments which s6a11 have been made under (a) ot said parag,caph.
4. That he will pay ell taxes, assessments, water rates, and other governmental or municipal charges, fines,
or impositions, foc which provision has not been made hereinbefae. and in default thereof the mortgagee may pay
the same; and that he aill promptly deliver the official receipts thecefor to the mortgagee.
~ s~ 1.76 ~ 698 . , . . .
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