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Home My WebLink About2896 said mottgagcx does he~eb~• fully warrent the title to seid land, end e~~ery pu~t theteot, and w~ll defrnd the same :+gai~st the law[ul cl~ims ot all persuna whomscever. PROVIDED ALVI'AYS. a~d theae prese~ts ace executed and delivered upon the tollowing cooditions. to wit; 'fhe mortgagor a~ees to y the mortgegee. or o~det, the pcincipal sum ot EI~ ~ ~ A~ ~ NQ/100 Dollacs (S ~~1~•~ as evidenced by a ~ote of even date he~ewith, with interest fcom date at the rate ot siqZlk ~ OtN~l! pec centum '16) per annum on the unpaid balance u~til paid. The s~id principal and i~terest shall bo payable at the ofEice oi ~POC1Q~Ot~. 1ilpTiiY. W1VTH ` OOIIQwtiY. 100 11rst Bsp 8tra~t, Jackso=tvill~. llo~cida, oc at such othe~ plece as the holder of the note awy designate in writing. ia monthly iastallmcnts of ~g ~ T~'!-~D~ ~11D 19/100 --------Dollars (S 139.19 coma,enci~g on the first day oE J~tasy , ~ 19 71 . and on the first doy of each month thereafter untiitheprincipal and interest ace fully paid. except that the final peyment of principal and iaterest, if not sooner paid. shall be due and payable on the fi~st day of D~Ca~• Z000. And shall duly. promptly. and fully pe~form, discharge. execute. etEect. complete. and comply with end nbide by each and .every the stipulatio~s. agreements. conditions. and cove~ants of said pcomissory note and of this mortgage. then this mortgege and the estate hereby createc! shall cease aad be null and void. And the_mortgagcx'fu~het covenaets~as follo~a~ . ~ - - - l. Thet he wlll psy the indebtedness. as heceinbefore provided. Privilege is ceserved to pey the debt in whole, or in an amount equal to one oc more monthly payments on the principal that ate next due on the note, on the first day of a~y ma~th ptior to maturity: P.o~~ided. however. that written notice oE en intention to exercise such privilege is give~ at leact,thirty (30) days pcior to prepeyaient~ aqd. pcovided f,urWec, ,th~,t in Rhe eveat the debt is paid in full prioc to maturi~y ~nd at.that time it is insured.u~der the provisions of~th! Nat#ona~ Housing ~AEt. he will pay to the modgagee an adjusted preinium charge of one per centum (196) of the orlgln~l prieCip~l amount thereof. except tRat in ~o ev~nt shall tfie adJusted preeeium eitceed the aggtegate amount oE ptieiu~h''ch~rges whfch would have been payable if the moctgage hed continued to be insured until maturity; such payment to be applied by the moct- gagee upon its obligation to the Secretary of Housing and Urban Development on accoant of moctgage insurance. 2. That. in order more fully to protect the security of this mortgage. the mortgagor. together with. and ie addi- tion to, the monthiy payments under the terms of the note secured hereby, on the first doy of each month until the - said note is fully paid. will pay to the modgagee the following sums: /~il An amo~nt sutficient to provide the hoider hereot with tunds to pay the ne:t mort¢o~e insuraace pramium i( this insteu- ment andthe note secured hereby are insured, or o monthly charge (in lieu ot a mortQage insw~nce ptemium) it they ~re held by the Secretary o[ Housing and Urbsn Development, as tollows: (I) If and so long as said note o( even date a~d this inslrumeat are iasured or a^e reinsured under the provisions o[ the N~tional Housin~ Act, sn amount sut[icient to accumulate in the haads of We holder one (1) month prior to its due date the annuol mortgage insurance prea?ium, in order to pravide such holder ~rlth funds to pay such premium to the Secretary o( Housing and Urban Development pursuont ta the N~tional Housin~ Act, •s ~mendsd, aad ~pplicable Reeu- tations thereuader, or (Il) It ar~d so long as said note d even date and this instrument are held by•the 3ecretory of Housine and Urbaa Develop- ment, a monthly char~e (in lieu of a mort~age insurance premium) which shall be In an •mount equ~l to one-twelfth (1.`12) ot one-ha!( (55) per centum ot the averaQe outstonding balance due oa the note computed aithout t~lcin~ iato account delinqueacies or prepapeemts; (tiJ A sum equal to the ~ound rents, iE any, next due. plus the preo?iums that wrill aezt become due and payoble on policies o( fire and other hazard ins~rance eoveriaQ the mortga`ed property, plus ta:es and assessmeats ne:t due on the mort- gaged property (all as estimated by the mortgagee} less all sums •lready paid theretor divlded by the oumber of months to elapse betore oae month prior to ihe date ohsn sucb erouad rents, premiwns.~ta~es, and ~ssessmsats will become de- linquent, such sums to be held by mo~tgoeee in trust to pay said ground rents, premiums, tuss. ~ad special ~ssessmmts; and F (c/ Alt payments mmtioned in the twro preceding subsections of this para~raph u?d aU payme~Cs to be made under the note secured hbrebT ahalt be added together and the ag~reQate amount thercot shall be paid by the awrt~~¢or each month in • ~ single pa~raeat to be ~ppli~d by t~ mert~j~e ta N+e ~oll~rniss items in tb~ ord~t itt [Qt4b: ~ c- ~ (I) premi char~es under the contract of iAauraqce w~th tbe Sec~tt+ty qt Hoysin~ apd Urbpn Development, or monthly cda~in ltea ot mortg~ge insurance presium), ~'s'tl1! case eriy b~; (II) ground rcnts. ta:es, assessa?ents, fire, and other h~zard insurance Qremiums; (III) interest on the notr secured hereby; rnd (1~ ~mortisatioo o( the princip~l ot s~id ~ote. Any deficiency in the amount of .such aggregate monthly payment shall, unless made good by the mortgagoc prior to the due date of the aeYt swcb payment. coastitute an, e~tet~t uf default aader this mortgage. The mortgagee may collect a"late charge" not Eo exceed two cents ~fot each doller ('S1) of each payment more than fifteen (15) days .in arrears to cover the extro t~tpense involv~~n ha~ling-delinquent payments. - 3. That if the total of the p~ymeats made by thefluoct~,aeot nnda of paragraph 2 preceding shali exceed the amount oE payments actually made by ti~ mortga~et; Eoi grbund tents, taxes and assessments and insurance premiums, as the case may be, such excess shall be ccedited by the mortgagee on subsequent paymehts 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 gcound rents, taxes and assessmanta and insucance premiums, as the case may be, whea t6e same shall become due and payable, then the moctgug~x shall pey to the modgagee any amount ~ necessary to meke up the def iciency, on or befae the date when payment of such gcound rents. taxes, as~essments, ~ or insurance premiums shatl be due. U at any time the modgagor shalltender to the modgegee in accordance ~vith ~ the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the awrt- ~ gagee shaU. in computing the amount of such indebtedness, credit to the account af the mortgagor all paymeats made under the provisions of (a1 of paragRaph 2 fiered whicb the matgagee has not becoine obligated to payto tbe Secretary of Hatains and Urbaa Developmeat and any balance remaining in tt~e funds accumulated under the provisions of (6J of said paragraph 2. If there shall be a default under aay of the pcovisio.~s of this moctgage, re- sulting in a public sale of the premises covered ~ereby, or if the mortgagee acquires the property otherwise after default, the matgagee shalt apply, at the time~ oE tbe commeeeeeient of such proceedings a at the time the proQ- erty is othe~rise acquired, the balance then remsining in the funds accumulated under (6J of paragreph 2 preceding as a credit against the amount of principal then reawining unpaid under said note and shell properlyadjust any payments.which shal! have been mede under (o) d said paragreph. . 4. That he wiil pey all tases, assessments, water rates, and other Savernmental or municipal charges, fines, or impositioos, for ~rhich provisian has not been made hereinbeEore, and in defeult thereof the mortgagte may pay the same; and that he wiil promptly deliver the official :eceipts therefor to the mortg,egee. f ~ 188 ~289~. ~ . .:~:.z~