The URL can be used to link to this page

Home My WebLink About0575 ~ • ~ . . ~ • ~ . , r' ~ , ~.~ul :~~.~~iti,~~•,.~~ d.N•. hrn•b~• tul1~~ w•,~rranl ih~~ t~tle 1o sa~d land. Mod rvrry patt thrreot, end w~ll dclrnd 1hc sam~ .~~.un.l thr l:~wtui cl:~~m~ u( :+il pct+uns ~vhumti~x~vcr. PhtO\'IDEU AL11'AYS, and these p~rsents are execut~~ci end del~vered upw~ the [ollowing co~d~tions, to wit; The mu~tgugw aKcrc:s to pay the m~xtgagc~c ,~u o~der, the pr~ncipal sum of SlViM~E'!1 ?Hq~B~ND N~A~DRilD F~t~?tro ~q/l00 lk~Uacs (S 17,150.00 as e~~~denred by a ~ote uf even date hErewith, with inte~est from date at the ratc of eighti & on~~hil~ per centum ( 8~ per annum on the unpaid balance unt~l paid. The sa~d pr~nc~pul and interest shall be payable at the of[ice of ± B~pCXTpN~ N~1T=,gY~ p,~?VIN ~ ~O~t~tp~NY, 100 ~Nat Bsy Street. Jacksonvill~, Florida; ' . i ur :~t ~uch othe~ plare as the holder of the ~ote mey desigoate in writing, in monthly installments of ~ y~p ~I~y~~ ~ 88~pp ~--------------------pollars (5131.88 comrt~encing on ' the fi?st day ot p~b~ua7~y , 19 ~l , and on the first day of each month theceafter untiltheprincipal aad i~te~est are tully paid, except that the final payment of principal and inte~est, if nM sooner paid. shell be due and payable on the first day of JaYluatiy, 2001. And sha11 duly. promptly, and [ully pecform, discharge, execute, efEect. complete. and comply with er~d abide by each and every the stipulations, agreements, conditions, and covenants of seid promissory note and af this mortg~+Re, the~ this mortgage and the estate hereby cceated shall cease snd be null and void. And the matgagor further covenants as follows: . 1. That he will pay the indebtedness, as hereinbe[ore provided. Privilege is ~eserved to pay the debt in whole, or ~n an amount equal to one or more monthly payments on the principal that are ~ext due on the note, on the first day of any month prioc to meturity: Pro,-~d~d, howevec, that written notice of an intention to execcise such privilege is given at least thtrty (30) deys prior to prepayment; ar~d, provided fudher. that in the event the debt is paid in . tull prior to maturity and at that tlme it is insured under the provisions of the National tfibusing Act, he will pay to the mortgagee an adjusted premium charge of one per centum (1%) of the original principel anwunt thereof, except that in no event shall the adjusted pnmium exceed the aggregate amount of premium cbarges which would have been pa~~able it the mortgage had continued to be insured until maturity; such payment to be applied by the mort- gagee upon its obligation to the Secretary of Housi~g and Urban Development on account of mortgage insurance. 2. That, in order more fully to protect the security of this mortgage, the mo~tgagor. togethet with. and in addi- tion to, .the monthly payments undec the terms of the note secured heceby. on the first day of each month until the said note is tuU}• paid, will pay to the mortgagee the foilowing sums: ~ ~~t I An amount suftic ient to provide the holder hereo[ with tunds to pay the ne:t mortgage insurance premium i( this iesttu- ment and the note secure~ hereby are insured, or a monthlp charge (in lieu of • mort~Qe insurance ptemium) if they ore held bp the Secretary of Housing and Urban Developmenl, as [ollows: (I1 It ~nd so long as said note o( even datc and this instrument arc insured ot arc reinsured under the pwvisions of the 1Vat~onal Housing Act, an amount sutticient to accumulate in the hands of the holdsr one (1) mo~th prior to its due date the annual mortgage insurance premium, tn order to provide such holder with funds to p~y suchpreeaium to the Secretary of Huusing and Urban Development pursuant to the National Housing Act, as ameaded, and applicoble Regu- lations thereunder, or ~ til) It ~nd so long as said note of e~en date and this instrument are held by the Secretary ot Nousing and Urban Develop- ment, a m~nthl~• charge (in lieu o[ a mortgage insurance prcmium) which shail be in an amount equal to one-tweltth (1 12) of one-half (li) per centum ot the averpge ootstanding balonce due on the note computed without taking into account delinquenc~es or prepaymeots; , s~ ~ A sum equal to the ground rents, if any, next due, plus the premiums thai wilt nezt become due and payable on policies of [tre and other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mort- Kaged propeny (all as estimated by the mortgagee) less all sums already paid therefor divided by tde number of months to elapse be(ore one month prior to the date when such ground rents, premiums, tazes, and assessments will become de- linquent, such sums to be held by mortgagee in trust to pay said ground rents, premiums, to:es, aad special assessments; and r~ All pa~ments mentioned in the two preced~ng subsections o( this paragraph and all paymenta to be made under the note k secured hereby shall be added together and the aggreg~te amount thereof shall be paid by the mortgagor eoch month in a ~ s~nKie pa~ment to be applied by the mortgagee to the Eollo~rin~ items in the order set (ort6: (I) premium charges under the contract of insurance weth the Secrefary of Housing and Urbaa Development, or monthly r charge (in lieu o[ mortgage iosurance preadum), as the c~se may be; ~ ill) ground rents, taxes, assessments, fire, and other hazard i~sura~ce premiums; ~ (tll) interest on the note secured hereby; and ~ (IV) amurtuation o[ the principal ot said note. ~ An_r' deficiency in the ar.~ount of such aggregate monthly payment shall, un(ess made good by the mortgagor prior to the due date of the next such payment, constitute an event of default under this mortgage. The mortgagee ~ may collect a"late charge" not to exceed two cents (2t) fa each dollar (S1) of each payment mae than fifteen ~ (15) days in arrears to cover the e~ttra expease involved in handiing delinquent payments. 3. That iE the total of the payments made by the mortgagor under (b) of paragraph 2 preceding shall exceed ~ the amount of payments actually made by the mortgagee, for ground rents, taxes and assessments and insurance premiums, as the case may be, such excess shall be credited by the moctgagee on subsequent payments to be ~ made by the mortgagor. If, however, the monthly payments made by the moctgagor under (6J of paragraph 2 pre- ~ ceding shall not be sufficient to pay ground rents, taxes and assessments and insurance premiums. as the case > may be, whea the same shall become due and payable, then the mortgagor shell pay to the modgagee any amount ~ necessary to make up the def'iciency, on or befoce the date when payment of such ground rents. taxes, assessments, or insurance premiums shall be due. If at any time the modgagor shall tender to the modgagee in accordance with ~ the provisions of the note s~cured hereby, full payment of the entire indebtedness represented thereby, the mort- ~ gagee shall, in computing the amount of such indebtedness, credit to the account of the mortgegor all payments ~ made under the provisians of (a) of paragraph 2 hereof which the moctgagee has not become obligated to pay to ~ the Secretary of Hw~sing and Urban Development and any balance remaining in the funds accumulated under the ~ provisions of /b) of said paragraph 2. If there shall be a default under any of the provisioas of this mortgage, re- ~ sulting in a pubiic sale of the premises coveced iereby, or if the matgagee acquires the property otherwise after ~ default, the moctgagee sball aQply, at the tim~+ of tbe camAence~eat of such proceedings or at the time the prop- ~ edy is otherv~rise acquiced, the balance then remaining in the funds accumulated under (6) of paragraph 2 preceding as a credit against the amount of principel then remaining unpaid under said note and shall properly adjust eny ~ payments which shall have been made under (a) of said paragraph. ~ 4. That fie will pay all taxes, assessments, water rates, and other governmental oc municipel charges, fines, ~ or impositions, for which provision hes not been made hereinbefae, and in default thereof the mortgagee may pay ~ the same; and that he will promptly deliver the officiel receipts thecefor to the mottgagee. ~ ~ ~ ~ ~~189 ~ 57~ - ~ - _ _ ~ = _ ti~ ~ N _ . . . _ _ -s ~ ~ ~ ~ a ,3~s ~ G~'~. 4 ~s, _ __zi.~ro.~`~.~".'9-.I.~`".~, ~ .._J',a,~ _ ~ , ~