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Home My WebLink About2736 ~ ~ ~ ` • ~ { , said mortgago~ does hereby tully wercant the title to said land, and every part thereof. and will defend the samc against the lawful claims of all perrons whomsoever. ! PROVIDED ALN'AYS~ and thcse presents are executed and delivered upoe the Eollowing conditiona~ to wit: ! The mortgagor agcees to pay the mortgagee, oc ocdet. the p~incipal sum oE ~ ~ ~ i~V/ iW ~~~~~~~~~~~~~~~~~~~~~~~~.~~~~~~~~~~~~~~~~~~~~w~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~ pollacs (i 18,500.00 as evidenced by • note oi even date herewith. with interest from date at the ~ rate ot ~i~ ~ pp~~~ per centum ( pec annum on the uapaid balance until peid. 1'he said principal o~d interest shall be payable ot the ofEice of - ri'OAQ'ON• MB?SIiY, D~1VI~i ~ OO~Mi~111Y, 100 Ma~t D~y BtrMt, Jacksonvill~, Florida, ' or at such other place as the holder of the note awy designate in w~Iting. in. montbly installaaents of ~.H~11IDiRSD F'OiL1'Y :ZNO ~ID Z7/100 ----------------------0ollars (t 14Z.Z7 commencing on i the first day oE Jaauasy . 19 71 . and on the first day of each month theceaftec until the principal and iaterest ace Eully peid. except that the final peyment of principal and intecest, iE not sooner paid~ shall be dne and payable on the first dQy of D~CrbaaC, Z000~ And shall duly. prapptly. a~d fully pedocm, dischacge. execute. effect. complete, and comply with end abide by each and every the stipuiations. agreements. conditions. aad covenants of said pcomissory note and of this moctgage. then this mortgage and the estate heceby created shall cease and be null and void. And the toottga~at faithet covenaats~aa follaws: . , ~ . . . - . 1. Thet he will pay the indebtedness. as heceinbefore provided. PriVilege is reserved to pay the debt in whole. or in an emount equal to one cx moce monthty peyments on the principal that ece next due oa the note. on the first day of any month prioE; to maturity: Pro~~ided. however. that written notice of an intention to exercise such privilege is give~ at least thitty (30).~ayr, p~ioc~ to ptepa,ym~~t; and, peo~ridet~ futtber. thc~t in. the event the debt is peid in full prior to maturity and~at ttiat time iY i~ ~nsured under the-provisions of the Nationel Housin~ Ac~, he will pay to the modgagee att adju§te1! premlrind Charge of one per cent~lm (1'J~) oI the otlginal ptinc~al'emotint-theceof. except that i~ no evenE~ shall the adj~tld' premium excied tAe •~[~ate amouat of pn~d?Ium clwrges ~rh~ch would have been payable if the mortgage had continued to be insured until maturity; such payment to be applied by the mort- gagee upon its obligatia~ to the Secretary of Housing and Urban ~evelopment on accouat of mo~tgage iasurance. 2. That. in ordec more fully to pcotect the security of this mortgage, the mortgagor. togeth~r wit6. and.in addi- tion to, the monthly payments under the terms of the note secured hereby, on the Eirat day of each month_until the said note is fully paid. will pay to the mortgagee the following sums: (n/ A~ amount sutticient to provide the holdet hereof ~vith funds to paY the ne:t mort~a~e insuraace prea?ium if this instru- ment end lhe note secured hercby arc insured. or a monthly ch~rge •(in lieu oi a mortgage insuraace premium) it they ore hetd by the Secretary o[ Housing ~ad Orban Developmant. as follo~rs: (I) I[ and so lon~ ~s said note ot evea d~te aad this insteumeat ate insured w ace reinsured andec the provisious ot ffie Ntationai HouaiaQ Act, an amount su[ficient to accumul~te ia the hands o[ the holdet one (1) month prior to its due date the annual mortQage iasurw~ce premium. in order to provide such holder ~vtt6 tuads-to poy suchpromium to the Secretary df HousiaQ and Urbon Development pursuant to the National HousinQ Act, as ameaded, and applicoble ReQu- lations lheteunder. or (11) It and so long as said note ot cven d~te and this instrument are held by the Secretary of Housing and Urban Develop- me~t, a monthly charge (in lieu ot a morteage insunnce premium) wrdich shall be in aa amount equoi to one-hxel[th (1 'l2) ot onrhalt (y4) per ceatum ot tM a~eroge outstanding balance due on the note computed without takinQ ieto account delinquencies or prepaymeats; (hl A sum equal to the ground reata. if any. nezt due. plus the premiams that wri11 ne:t become due and p~yable on policies of iire and olher hazard iasuraace coverin~ the mortga~ed ptopertr, plps taxes and assessments neat due on the mort- j gaged property (all as estimated b~r the mortgagee) less all swns already paid therefor divided by the number of moatbs t to elapse before one moath prior to the date M~ea suc6 ~round centa, premiams, ta:es. ~nd assessments ~rill become de- ~ linquent, such sums to be held by mortgagee in trust to por said ground rcnts, premiums. ta:es, and special assessments; i and (c1 Aft payments mentioned in the two preceding subsections ot this pangraph aad all payments to be m~de under the aote secured herNq shall-be added togethe~ and the •ggFegate amount t6ereo[ shall be paid by the mortgagor each month in a single payment to bG applied by the awrt~sgee to the tol~awing items in We oR~er sel tort~ 4 (I) premium charges under the coatiact of insurance ~rtth the Secretary of Housin~ and Urbaa Development, or mont6ly c6arge (ia Heu ot mortg~rios~ce premium), •s th! case may be; ' (U) ground reats. taxes, assessments, Gre, aad other hasard insuraace prcmiums; (IIl) interest oa the note securcd hercby; ~nd (l~ amortis~tio~ of the priacipal ot s~id note. Any deficiency in the amount .~of ~ucch aggregate monthly payment shsll, tu~less made good by the mortgagor prior to the due date of the next sach payment, constitute an event d default. under this mortgage. The modgagee may collect a"late charge" notfto e:ceed tao cents (2t) each dollar (Sl) df each payment more than fiEteen (15) days in arrears to cover the exlta*txp~na! involved i~ha~i~ii~fg delinque~t paye~ents. 3. That if the total of the.~pay~ents mede by,the'mortgaggr un~ei j6J~of parQ~aph 2 preceding shall exceed the amount of payments actually made by the moit~sgee. ibc g~eond c~t~; taues and assessaieats and insurance premiums; as the case may be, such e:cess shall be credited by the mortgagee on subsequent payments to be made by the mortgagor. If, however, the montbly payments made by the aw~tgagor under (b) of paragraph 2 pre- ceding shall not be sufficient to pay ground reats, taxes and assessmants aad insuraace premiums, as the cese ~ may be, _~rhen .tL~ same shalt become due and peyable, thea the moctg,ugor shall pay to the modgagee any emount ~ necessary to ma~e up the deficiency, on or beEore tbe dete whea payment of such g~ound rents. ta:es, assessments, or insurance pcemiums shall be due. If at any time the mortgagoc shalltender to the moctgagee in accocdance vvith the provisions oE tbe note secured bereby. fuil payment ~ the entirc indebtedness repceseated thereby, the mort- gagee shall, in canputing the amount d such indebtedness, credit to the account of the mortgegor all payments made under the pravisioas of (oJ d paragraph 2 beced which tbe mortgagee has not become obligated to payto the SecnUry- o~~ Hansla~' Wd Urbaa Developmeat aad any balance remaining in tbe fands accumulated ~ndec the pwvisions of (bJ oE said paregr~ph 2. IE tbere shall be a defoult ~nder any oE the p~ovisions ~ this matgage, re- sulting in a public sale of the premises covered xreby, a iE the matgagiee acquices the property othetwise after default, the moctgagee sl~ll at fiii~tTie of~T1~ Cosm~eee~lbl~t of such proceeding¢ a at the time the prop- edy is otherwise acquired. the balaace tben remaining in the Eunds accumuleted nnder (b) of paragraph 2 preceding as a credit against the, amount of pclncipal tben remainia~ unpaid undec said note and shall properly adjust any payments which shall have been aiade under (oJ ot safd paregraph. 4. That he will pay all taxea, assessments, arater rates. and othet goveramental or munlcipel charges, tines. or impoaitions, foc ~rhich provision has not been made heceinbefae, and in default thereof the mortgagee may pey the same' ar~d that he will promptly deliver the dficial receipts tbe[efoc to the mortg,agee. - ~ ~188 ~27~'1 , ~ ~ r ~ - ~ w~~