The URL can be used to link to this page

Home My WebLink About2732 ' { , . • ~ , ~ ,'y ~ caid mortga~or doec he~eby fuliy warrant the title to said lan~, and e~~ery pYrt thercof, and will defend the same agamst the lawtul claims ot all pe~sona whomsoeve~. PROVIDED ALIAAYS. •nd these p~esents are executed and delivered upon the fottowi~~ co~ditions. to rvit: The mortgagor a~~ees to pay the mat~agee. or o~der. the principal sum oE ~ ~ ~ ~ ~ ~~I M~~~~N~~MNN~~~~~~~N~~~~~~~~~N~~~ Dollars (S 16•750.00 as e~~idenced by • note even date herewith. with interest from date at the rate of i OO~"~1! per centum ~1G) pet annum on tl~e uepaid balance until paid. The said principol and intecest shall be payable at the office oE ~1~OC'~~OM, 11~i!'~i! • O~tR11 i COII~. 100 Ilr~t 1~¦~ ~ts+Mt. Jaoksoovill~ •~lorida, . or at such othe~ Ql~ce as the Aolder oE the note nwy desigaate in writing, in monthly installaKpts of ~~D i!e'Kl'Y~iIG~' ~ 8]~/100 ~-•~••••~•~Dollars (S 1Z8.81 comaencing o~ the first day ot Jilwaty . 19~1 ~ a~d on the first day of each month theceafter untilthepcincip~l and interest are fully paid. except th~t the final payment of principal aad interest. if not soo~ec paid. shall be due and payable on the first day oE DK'rb~r, 2000. A~d shall duly. pranptly. and fully pedorm, discherge, execute. efEect. complete. and comply with and abide by each and every the stipulations. igilCiOE[ItS. conditions. and coveoants of said praaissory aote and oE this moctgage. then this moetgage e~d the estate hereby created shall cease and be null aad void. ~nd the matg,~eoc fuether covenaats,AS Eollows: 1. That he ~vill pay the indebtedntss. as leereinbefore provided. Privilege is ~esenred to pey the debt in whole. oc in an amouat equal to one oc more monthly payments on the principal that are ~:t due on the note. on the first day of any month prior to awturity: Pso~~ided. hoWeve~. that written notice of an intention to exercise such privilege is given at least thi~ty (30) days prioc to prepeyment; and. provided further. that in the event the debt is paid in full prior to msturity aad at thaf tiae It is iasured updec the pcovisions oE tbe Natioaal Housing ~1et, he will pay to the modgagee aa ~djusted p~ea~inm chacge of o~e per ceatas (1%) ot tbe ori`,inal prias~ppl.~wouat thereof, except that in no event shall the pdjusted peemiwn exceed the agp,ro~ate aowunt oE ptemium chqc~es which would have been payable if the moctgage had contiaued to be insu~ed until maturity; sucb payment to be applie~ by the mort- gagee upon its obligation to the Secretary of Housing and Urban Developme~t on accouat of moctg,age insuraace. 2. That. in ordec more fully to protect the security of this mortgage. the mo~tgagor. together with, and in addi- tion to, the mo~tl~ly payments uuder the terms of the note secured_hereby, an the first day oE each awnth until the said note is full~ paid. ~vill pey to the mottgagee the folloa?ing sums: /n I An amount sutticieat to provide the holdet hereoi writh funda to pay the ae:t mortgaQe iasuraace premium if this iasw- _ ment and the note securcd hercby pre insured, or a monthly charge (in lieu of a moKgage insuraace premium) it they ~re _ held by the Secretary ot HousiaQ ~nd Urban Developmeat, •s toilows: . (I) It and so long as said aote ot eren date acid this instmmeat ~re insured or are reinsured uader the provisioas ot We I3ational Housine Act, ap amouot sut[icient to accumul~te in the bands ot the holder one (1) moeth prior to its due datc t6e anaual mc~rt~aQe insuraace premium, in order to provide wch holder ~rlth tunds to p~y suchpremium to the Secretary of Housin~ aad Urban Developmeat pursuant to the Natioaal HousinQ Act, as ameaded, and appli~~ble Reeu- lations thercuader; or (in If and so long as said aote of even date and this instrument are hcld by the Sec~etar~ o[ HousinQ aad Urbaa Develop- ment, a monthly charge (in lieu o! + mortQage insurance premium) wrhich shali be in an amount equal to one-twrelfth (1 ~ 12) ot oae-halt per ceutua ot tde averaQe outstaading balance due oa the aote coiapated ~vithout t~kiaQ into account delinquencies or prepaymaNs; (h ~ A sum equal to thc eround reats, it anT, ae:t due, plus the' presniums tlut wrili ne=t become ~e and payable on policies of tire and other hazard iosurance coveria~ tl~e mortga~ed property, plus ta=es and assessments ne=t due oa the mort- gaged property (aU as estimated b~ We mort~oeee) less Ril sos~s alreadr•p~id Werefor divided by t6e aumber of months ' to clapse betore oae moath prior to tl~c date ~v6en such ground rents. pren?iums, ta:es, and ~ssessmeats wrill become de- ~ tinqucnt, such sums to be Leld har mort~a~ee ia trust to p~q said ~,round eeats. premiums. tues. and speci~l assessmeats; { . and ~ .'~1 All prec a~ p er p paymeats to be madc under the aote payments mentioaed "w t6e t~vo edi subsections of this an a h and all secured hereby shatl be sdded together aad the ae~cQate amount theceo[ shall be paid by the mort~aQor eacA month in • single papmewt to be applied by the mortgagee to the [olloainQ items in We order set torth: (n preauueo cbwees mder tbe eontrsct oi iasnrance with Hk Secrctar~ ot Hoosia~ aad Utban D~relopmeat, or mont6lr charge (in lien of aiorte~e ~nsnraace pcesiun). as the case ~aay be; (II) Qround ~ents. ta:es, assessments, fre, and ot6er hazard inswance premiums; (III) interest on We aote securcd hcreby; ~nd (I~ amortization o( tl~e p'iocipal ot said oote. Any deficiency in the ar.~ount d such aggregate monthly payment shall~ unless made good by the mortgagor prior to the due date of the ae~ sucb payment, constitute an event d default under this mortgage. The mortgagee may collect a"late charge" ad to e~tceed t~vo cents (24) for each dollar (Sl) oE each peyment more than Eifteen (15) days in arrears to cover tbe ertrp e:pease involved in hatdling delinquent payments. 3. That if the total of the peyoeets made by the matgsga nnder (b) o[ pangtaph 2 preceding shall e:ceed the amount d payments actustUy made by tl~e a~oct,~~~ee, far ~tound tents, taxes end assessmeats and iasurance premiums, as the case may be, such e:cess shall be credited by the moctgagee on subsequent payments to be made by the mo~tgagor. If, 6oWever, the monthly payments made by tbe matgagor under (6J oE paragraph 2 pre- ceding shall not be sufficient to pay ground rents, ta~ces and assessmeata aad i~aurance premiums, as the case ~ may be, when the same shall becoae due and payable, then tbe matg,ugor slwll ppy to the mo~tgagee any amount necessary to malce up the deficieecy, on ar before tbe date wben payn~ent of sucb ground reats, taxes, assessments, or 'insurance premiums shall be due. If at any time the mortgagoc shalltender to tbe mortgagee in accordance with the provisians of the note secnred hereby, full peyment of the entire indebtedaess repre~eated theceby, tbe mort- gagee s6a11, in coaputing the amount of such indebtedness, credit to the acconnt of t6e mortgagor all payments made under tbe pravisioas d(a1 of parag~aph 2 bereqf which the matgagee tws not become obligated to payto the Secretary d Hour.in~ and U~baa Developmeat and any balance remaining in the funds accumuloted under the provisions d(bJ d said paragcaph 2. If there shall be a deEault under aay d tbe provisio.~s of this matgpge, rr sulting in a public sale d the premises caveced xceby, oc iE the matga~eee acquires the property otherrvise after default, the mortgagee slwil •pply, at the tise d t6e co~maencooQnt of such prxeeding~s a at the time the prop- erty is. otherwise scquired, the bolaace then remaining in the funds accumulated under (6J oE porograpb 2 Preceding ' as a credit ag,ainst tbe amount of principol t6en reawiaing uapaid under seid oote and sheU properlyadjust aay ~ payments a6icb shall have beea made under (QJ of said para`caph. T6at he will psy all tases, assessments. wata rates. aad dber govecnmental or municipal char~es. tines, or impositions, tor ~rhic6 provisiaa h~s not been made hereinbefae, and in detault tbered the mortga~ee m~y p~y tbe came: and that he wiU pranptly delivet tbe diicial ceceipts fberefor to the mottgp~ee. f • ~188 ~2422 _ ~ - ~188 ~Z'72? ~ -;t . _ 1 - _ _