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Home My WebLink About2404 ~ ` ' 1 ~ ~;3~3~1 said mortgagor does he~eby fully wa~rant the tiile•to said land. and~every part thereof~ and will defend the same aeai~st the lawtul ctauns oE all perso~s whomsoever. PROVIDED ALWAYS. and the~e presents a~e executed and dellveced upoa the Eolloaring conditions. to wit: The matga~oc ag~ee~ to pay the enortgagee. or ader. tl~ principal aum oi ~ ~ ~ ~ ~ ~ia~ NM~~~M~M~~N~NM~~M~MM~rN~~~Mr~~~ Dollars (S 16,~00.00 os evidenced by R aote of even d~te herewith. with iMecest fcom date at the rete of ay~ ~ pp~~1! pec ceptum 9L) per aaau~a oa the unp~id balance until paid. The said p~tacipol and interest shall bo payable at th~ oEfke of ~ Fl"O~?~~• M~i~• ~ i~. 100 MNt ~~srat. J~oksonvill~. lZosi~da• or et such other place as the holder of the ~ote may desigaate ia writiag. in moatbly installments of Qii ~'r1~-83Z ~D 1Z~100 Dolla~s (S 1Z6.].Z commencing oa the first day of ~p . . 19 ~y aad on the fint day oE each moath thereafter untilthepriaclpol a~d interest are Eully paid, except tbat the finil paysent of priucipal and iaterest, if not sooner ppid. shall be due and payable oa the first dey of D~C~ci Z000. And shall duly. promptly. and fully pedocm. discharge. execute. effcct. complate. and coa~ply with and abide ' by each and. every the stipulations. agreements. conditians~ and covenants of s~id pcaoissory Aote and of thls mo~tgage, then thia matgage ar~d the estate heceby created shall cease and be null a~d void. ~ And tbe ~n~t l~rthec~ven~ys,#°Uo~rs.~ : . . . . . z:, - a.- 1 . ; .:t~..,. ~ . 1. Thet he wi 1 pay the indebted~ess, as ~ereinbefore p~ovided. Priiritege is reserve~ to pay the debt in whole. oc in an amount equal to one a mae monthly payments on the pcincipal that ace next due oa the note, on the first day of any montb prior to maturity: Provided. howevec, that written notlce of an intention to exercise such privilege is given at least f6lrty (30) days pria to prepeyment; and~ provided further, that ia the event the debt is peid in tull prior to maturtql sad at~th~tiUlee' it is ~ina~ u~ tb~ pro~vision~~ot•tles ~N~tio~a( Housit~•l1cl, he wiil pay to the modgagee aa ~djuated.premiom cl~arge of.oot~Tpet c~atp4;(1%) of tbe orl~tl~pryWip~},~oupt thereof, except that in no eveot;s~,,~t.,~dj~tp~i.preaiup e eed,tht,~~p~ate aa~o~~.ot,p~itup ch~~es~q,~~ would have been payable if the matgage had continued to~ insuted until maturity; suc~ payment to be applied~by the mort- gagee upon=its obligation to the Secretary of Housing and Urban Development on account of mottg,sge insurance. 2. That. in order more fully to protect the secnrity of this mortgage, the mortgegor. together ~vith~ and in addi- tion to, the monthly peyments under the terms of the note secured hereby, on the first day of each moath uatil the said note is fully paid, will pay to the mortgagee the following sums: (n1 An amount sutticient to provide the holder hereot aith [uads to pay the ae:t mortaaQe insuraqce premium it this instru- ment and the note secured hereby are insured, or a monthir chuQe (in lieu o[ a mort~age insur+~ace premium) if Wey are held by the Secretary oE Hwsing and Urbaa Developmeat. as tollo~rs: (I) If and so long as said note ot evea date aad this iustrumeat ~re uuwed or sre roias~ued under the pwvisioas of the National Housin~ Act, an amount sutCcieat to accumul~te ia the h~nds of the holder oae (1) month prior to its due date the w~nual moKgage iasurance premiwn, ia order to provide sucb holder wtth (unds to p~y suchpremium to t6e Secretary ot Housing and Urbrn Development pursuaat to Wt I~l~tioa~l Housie~ Act. as ~a~ended, and ~pplic~ble ReQu- lations thereunder. or (!I) I[ and so long as said note ot even date aad this instmment ~x held by the Sacretary of Housin` and Urban Develop- ment, a monthly charge (in lieu of a mortgaQe insunnce premium) ~w61c6 shall be ia ~e amount equal [o oae-t~rel(th ( i i 12) of one-hal[ (yS) per ccntum of t6e aversge outstandinQ balance due on We aote computed ~rithout takia~ iato account delinquencies or prepaymeats; (h/ A sum equal to the ground re~ts. it ~uy. a4tt dyQ, plus t6~ premiuss that w~t ne:t become dne and payable on policies ot fire and othe~ hazprd insuraace coverin~ the mort;a~ed propetty, plus ta:es ~nd assessments ae:t due on the mort• gaged property (all as estit~ated by t6e mortQs~ee) le;~.all snms alre~dyp~id therefor dividad b~ the number of months to elapse beforc one month prior to the date when such ground rents, premiums, t~ses. and ~ssessments ~rill become de- linquent, such sums to 6e held bp mort~~~e in trust to.p~r said ~ound+eat~,•pceolams, tu~s, aadspeeialassessmeats; _ and All payments mmtioned in the two preceding subsectioas of this patagraph aud •ll p~yatents to be msde ~u?det the aote secured Ftecepr s6~jl be added together aad the a~reQate rmount thereof shall be paid by the mort~agor each month in a singte pa~d3ent tdKe ~pplied by the morts~eee to tt~e [ollo~viaa items in We order set tort6: E (I) premiu~e%cMt~es~~ tl~e eontraM` i~ Inwranc~~rrlh d~ Secretary ef`_Houiius ~sd 1hb~a Devtlopment. or monthly E charg~ (ia.Si~.9~'9~~e.~t!?rang~ pnMpiM~l~. ~ ~h~ m~l ? _ . - . (II) ground renti, a:es, assessments; tire, and other h~zard insuraace premiums; ~ ' ~ (III) intereat oa the oote securcd herebr; aad p{~ amortiz~tioa of the pruxipal of said aote. ~ Any deficiency in the-amount oE such aggregate monthly payment shall, unless made good by the mortgagor ~ prior to the due date of the nexf 'aaeli payment, constitute an event of deiault under this mortgage. The mortgagee may collect a"late charge't not to i~teeed:t~o otsta:(2~)tfor ~eacb dollar (sP) oE each payment moce than fiheen (15) days in arrears to cover tbe estq e~peu6e involved~ in h~ling delinquent p~yments. - 3. That if the total of fhe p~ya~enfs ~ made ~y ~ ino~ttaset nnAer (b) ef ~puagRaph 2 preceding shall ezceed the amount of payments actitally m~de by tb~ w~; foc gs~lltnd:c~tfts, tases and esaessments aad insurance premiums, as the case may be, such excess shall be credited by the mortgagee oa subsequent paymeats to be ~ made by the mortgagor. If, however, the monthly payments made by the moctgagor under (b) of paragraph 2 Qrr ceding shall not be sufficient to pay ground rents, taxes and assessmants and insurance premiums, as We case ~ may be, when the same shall becane due aad Qayable, thea tbe matgaga shall pay to tl~e mortgagee any amoant ~ necesaary to tda{te up the deficiency; on a befae the date whea payeaeat of such ground cents, taxec. assessments, s oc insurance premiums shell be due. If at any time the modgagar shall tender to the modg,agee in accordaace ~rith = the provisions of the n~e secured hereby, full payment of the entire indebtedness represeated thereby, the mort- F gagee shall, in canputing the amount o[ such indebtedness, credit to tl~e account oE tbe mortgagor ell paymeats ~ made under the pravisions of la) oE paragtaph 2 hereoE which tbe matgagee hes not becoa~e obligated to payto tbe Seccet~ry_d Nousia4,pnd Urban Developmeat and aay bolance remaining ia the fands accumulated under the ~ provisions of (6) o~ said paragraph 2. If there shall be a defaalt under any of tbe provisioas of this matgage, rr sulting in a public sale of the premises covered ~ereby, or if the moctgagee acquices the propedy othenvise after ~ default, the matgagee:gl~U ppply,.a~ ttle._tise cf tl~e eormaea~q~at of such pcoceedinga or at the time the prop- edy is otherarise acquired, tlie balance thea remaining in the furids accumulated under (6J of paragraph 2 preceding ~ as a credit ageinst the amount of.prlncipel then remaining ~npaid under said note and shall properlyadjust any ~ payments which shall have been niade nnder (aJ of said pora6raph. ~ 4. That he arill pay all tases, asseasments, water rates, snd,otbet governmental or municipst charges. fines. or impositions, Eor ahich provisioe has not been made hereiabefae, and in default thereo[ the mortgagee may pay ~ the same; and that he will proraptly deliver the official teceipta theeefor.to the mortg,agee. ~ !~~~00 ~ . w s.,.~,~ :q ~ - - - ~ ~ . - ~ - . _ < _ -