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Home My WebLink About2670 i . ~ . `..t,r~~ ; , , 's , . . ' ~ ' • ~ said matgago~ does hereby tully wa«ant the title to said lead, and every part thereof, and wiU defend the same against the lawtul claims of all pe~sons whomsoevet. PROVIDED ALN'AYS. and these present~t a~e executed aad delivered upon the Eollov~ing conditions. to wlt: The matge~~ agrees to pay the mortgagee. a ocder. the Rrincipol sum ot 8BV~i ~ Oi~ 801iDA8D 1~I~'1'Y 1WD l10/100--- Dollacs (S l~~~p.OQ as evidenced by a note oE even date herewith. with interest from date at the rate of eiq~lk ~~~1! per centwa ( A~ per eanum oo the unpaid balance until paid. The s~id principal and interest shall bo payable at the offlce of l~O~ON, 1I~?stilr O~VILt & QOItA11K, 100 lirat 8~Y 8ts~t• Jacksonvill~. Flosida, or at such other place as the holder of the note awy designate in wrlting. in aoonthly installmeats of q~ ~~Y-p11E 111ID 88/100----- Dollacs (S 131.88 commencing on the first day ot J~ ~ 1971 . ond on the Eirst day of each month thereafter untilthepriacipal and i~terest e~e fuily paid. except that the fiaal poyment of pci~cipal and interest. if not aoa~e~ paid, shall be due and payable cn the first day of p~=~ ~ppp~ A~d shell duly. praaptly. and fully pecEorm, discharge. execute, effect. complate~ and comply aitb a~d abide by each and every the stipulations, agreemeats. coaditians. aad coveaaats of said pcomissory note and of this mortgage, then this mortgage end the estate hereby created shall cease and be null and void. And the mactgagor further covenants as follows: . 1. The4 ht r?#~1 {sAy the ir~debtedness. aa hereinbefore provided.'Privilege is reserved to pay the debt in whole. or in an amount equal to one oc more monthly payments on the principa! that ace next due on the note, on the first _ day of any month prior to matucity: Provided, howevec. that written notice of an iatention to exercise such privilege is given et Ieitst.tAirty (30) days prio~ to prepayment; and. provided Eurther. that in the eve~t the debt is paid irt full prior to ~paturity qnd et t~R:tia~t,it ,is ~red w~der tbe p~ovisian..~[:.tbe Natioqal Housing l~ct. he will pay to the mortgagee aa adj?}s ted. prn~miua~ chpcge -pf qp~ per ~entam {~7G) of,tblt ocigioal pNaaipal .amq~tt~t theceof. except that in no e~rent sheli the, ad~usted premium ,gxceed the a~gce~,ate a~q,unt of p~m}uo~ c~gtgos ~hi~h would have been payable if the~~mottg8ge had continued ~fb be Insured`unttl matarity; such payment to be applied by the mort- gagee upon its obligation to the Secretary of Housiag and Urbaa Developaent oa account of moetgage iasursace. 2. That. in order more fully to protect the security of this martgage~ the mottg~gor. together with. and in addi- ~ion to. the moathly payments undec the terms of the note secared hereby, on the first day of each month until the said note is fully paid. will pay to the mortgagee the follo~ing sums: /n1 Aa amount su[ticient to provide the holde~ hereot with fuads to pay the next mo~tQage insurance preauum iE this iastru- ment and the note secured hercby are insured, or a' moathly chuge (iu Ileu of a mortQa~e Iasurance ptemium) it they ue held by the Secretary oE Hoasia~ wd llrban Developmeat, a~ [olio~rs: ~ (I) 1[ and so long as said note ot even date -and this insltument are iasured or are reinsured under the pcovisions o[ We National Housing Act, aa amount ~sutt'icieat ta accumul~te in tbe haads ot the 6old~r oae (1) month p~ior to its due date the annual mort¢age insut~nce prcmium, in o~det to pwvide such holder wit6 tunds to pay such premium to t6e Secretary of Nou:iag aad Urbra Developmeat pursuaat to the Natloaal HousinQ Act. •s ameaded. aad ~pplicable Regu- fatio~s thereuader; or (11) If and so long as said aote of even date and this instcument are held by the Secretaty o[ Housia~ and Urban Develop- ment, a monthly charge (in lieu of a mortgage insunace premium) ~rhich shall be in an amouat equ~l to one-t~velfth (1l12) of one-halt (5~4) per centum o[ the averaee outstandin~ balance due oa tbe note computed writhout t~kinQ iato accouat delinquencies or prep~ysenES; - • - ~ (b/ A sum equal to tl~e ground reats, it any, aext dae. plus tl~e premlums th~t will ne:t become due ~ad payable on policies ~ ai fire and other huard iasurance coveriaa the morl;aQed property, plus ta:es and assessments oe:t due on the mort- i gaged property (alI as estimated by Me mort~Q;ee) less oll s~as alread~ p~id Weretor divided by the number of months I to elapse betore one month prior to the date ahen such ~round rents, pcemiums, ta:cs. and s~sessmeats aill become de- ~ linqueat. such suma to be 6eld by moct~A~ee iq trust to .pay said ~ound repts, pFewi~pts, tues. wd special ~ssessmeats; and ~ (c J All payments mentioned in the two preceding subsectioes ot this pan~raph aad sll paymeats to be made uader the note ' secured hereby shall be added together and the aggre~ate amount t6ereo[ shall be paid by the mott~aQor each month in • ~ single p+~„neot to be ~pplied. by the mort~~~ee to the tollowiag items in the ordct set torth: ~ (1) Premiys clM~es und~,_the; ~owt~ct. pt@ inWr~ot a?~Rh 1!~ ~Scc+itaty'bf HonsieK u~d Urban Developmeat, or moathly charge (in lieu of mort~aQe inguraaCe_pre+niu~u). as W*, case a~/y pp; ~ ~ (II) grour~ nets, haes. ~ssestpents. tle~, ~nd othlr hii~Yni insunnce pTeaiiums; (lIl) intercst on the aote secured i~ereby; and (I~ amort'uption of t6e principal ot said note. Any deficiency in the amount of such aggregate monthly payment shall. unless made good by the moctgagor prior to the due date of the next sucli payme~t. constitute en event d default under this mortgage. The modgagee may collect a"late charge" nqt to sxceed, two-c~utg (2F~ for;sRCh dollat (Sl) of each payment mae than fiEteen (15) days in anears to cover tbe e~a e~~eastjnvolve~#n h~ling~delinquent peyments. 3. That if the totel of ~ke paye~ents medn.by tl~.mvet~goc ~?ndrr f~1~d~~N?BRaph 2 preceding sbalt exceed the amount of payments actusilly made by tbe mrqtt~pap~~ Eaa~~vu+?d-~, taxes and assessments and iasurance premiums, as the case may be, snch excess s6a11 be credited~by the mortgegee on subsequent payments to be made by the mortgagor. If, however, the monthly payments made by the mortgagoc under (6) of paragraph 2 pre- ceding shall not be sufficient to pay gROUnd rents. taxes and assessmants aad insurence premiums, as the case may be, when the same shall become due and poyable, thea the moctgagoc ~twll pey to the mortgegee any amount necessary to malce up the deficiency, on a befae the dete whea payaneat of such gcound reAts. taxes, assessments, ~ or insurance premiuaAS shall be due. U at any time the mortgega shall tender to the mod~aeee in accocdance with the provisions of the note secured hereby, full Qayment of the entire indebtedaess represented thereby. the mort- gegee shall, in computing the amount of such indebtedaess. credlt tu the ac~ount of the matgagor all paymeats made under the pravisions of (01 aE peragraph 2 hereof ~r6ich tbe moctgagee haa not becoeie obligated to payto tbe Secretary of Hoasiag and Urbaa Development aad any belance remaining in the fnnds accumulated under the provisioes ~of {6J oF asid paragraph 2. If there shall be a default under any of the pcovisio~s of this matg,ege, re- sulting in a public sale of the premises covered ~ereby, oc if the matgagee acquires the property othecvvise after deEault, the matgagee shs~ll _a~pply, ~ thR ti~e. ~f ~t~e ~P~~wfnt of such proceedings a at the time the prop- erty is othecwise.acquit+ea,fhl~'~~lea tliell~`tembf~ing in the~imds~accumulated under (6J oE paragraph 2 precedin~ as a credit against the amount of principal then remaining unpeid under said note end shall properlyadjust any payments which shall have been made under (o) of said peragrap6. ~ 4. That he wilt pay all taxes. assessments, ~vater rates, and eRt~er goveramental or municipel charges. finea, oc impositions, fa which pcovision has not been made heeeinbefae. ~nd in default thered the moctgagee may pay the same; and that he aill promptly delivec the official receipts therefor to the mortg,sgee. ~ • 6. ~ f~ _ ~ ~.3 - _ _ _ _ , : _ _ . ~~:t - ,_...w.._ _..Y: .a~ y