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Home My WebLink About1069 • ' , . . ~ ? sdid mo~tgago~ dcec hereby fully warrant thr title to said land. aod every pyrt thercof. ~nd will detend the san~ 4 agei~st the l~?wful claims o[ all pecaons whomsceve~. ' PROVIDED ALY'AYS, and these presents are executed and delivered upon the Eollowi~g coeditions. to wit: The mortgaga agrecs to pay the matsa~ee, o~ o~der: the principal sum of i~(~ ~~p j ~ ~ ~~W ~~~~~~w~~~~~~~~~~~~r~~~~~~~~.~~~~~~~~.~~~~~~~~~r~~~~~~~~~~~~~a~~~~~~~~~ ` Dollacs (S =8•700.00 as evidenced by a note of evea d te herewith, with interest from dete et the ~ cate of siQ~ ~~~1~ per centum ( 8 96) pe~ annua~ on t6e unpaid balance until paid. The said prixipal and interest shalt be peyable at the office ot ~OC~T. fItRTLSY, D~1VT~t ~ OON~1t+lY , 100 ~at eay St~cwt . Jacksonvill~. Florida • or at such other place as the holder of the note uwy designate in writing. in monthly iastallments of ~E 9[~1D~13 F~'Y-T~ ~p 80/100 ---------------------0ollers (S I43.80 ) comn~encing on the first day of lrb~llaxy . 1971 . and on tht first day of each month thereafter untiltheprincipa! and interest aee fuity paid. except that the final payment of principal and interest, if not soones paid, sbell be due and psyable on the ficst day oE Ja~c~?, 2001. And shatl duly. pranptly. and fully pedorm, discharge, execute, effect. complete. and comply with and abide by each and every the stipulations, agreements. conditions. and covenants of said pranisaory note and of this mo~tgage, then this matgage and the estate hereby cceated shall cease and be null and void. And the mottgago~ further covenaAts as follows: ~ . . 1. That he will pay the indebtedness. as hereinbefore ptovided. Pri'vilege is resenred to pay the debt in whote. ~ or in an amount equai to o~e or mae monthly payiaents on the principal that are next due ore the note, on the first day of any month priQt to maturity: Procided, however. that written notice of an intention to exercise such privilege is given st least thirty (30) days prior to prepayment; and~ provided further. that in the event the debt is peid in full prior to matu~iry and at that time It is insured under the provisions of the National Housing Act, l~e will pay to the mortgagee an adjuated premium charge of one per centum (1'X~) of the originel priaclpal amatnt thereoE. except that in no event shall the adjusted 'p~emiwa exceed ti~e aggregate amount of premlum clwr~es whic6 would have been ~payable if the mortgage~had continued to be insured until anaturity; such payment to be applied by the mort- gagee upon its obligation to the Secretary of Housiag and Urban Development on acco~nt of modgage insurance. 2. That, in ocder more fully to pcotect the security of this mortgage, the mortgagoc. together with, and in eddi- tion to. the monti?ty payments under the terms of the note secared hereby. on the first day of eacb a~ontb until the said note is fully paid. will pay to the mortgagee the follawing sams: (nl An amount sufficieat to provide the holder hereot aith tunds to pay the ne:t mortgage iasuraace pcemiua? it this instru- ment and the aote secured hereby are insured, or a monthly charge (in lieu oE • moKgage insurapce premium) If tdey are held by the Secretaty of tiousing and Urban Development, as lollows: (I) It and so long as said note ot even date a~d this instrument are insured ot ~re reinsured tmder the pmvisioas of the National liousing Act, an amount sut(icient to accumulate in the hands of the holde~ oae (1) moath prior to its due date the alutuai mo~tgage iaaurance premium, in order to pmvide such hoider wit6 Eunds to pay sucbpreauum to the Secretary of Housing ond Urban Development pursuant to the Nption~l HousinQ Act, ~s ameaded, ~nd applicable ReQu- latiw?s thereunder; or lil) !f and so long as said note ot even date and this insttumeat are held by the Secretary of Housing and t3rb~a Develop- ment, a manthly charge (in lieu of a mortgage insuronce prcmium) ahich shall be ia oa amount equal to one-twel[th (1%12) ot one-half (K) per ceatum of the average outateading balence due on the note computed ~ritbout taking into account delinquencies or prepayments; (ti1 A sum equal to the ground rents, if any, next due. plus the premiums th~t will ne:t betome due aad p~yable oo policies oi tire and othe~ hazard insurance covering the mortga~ed property, plus taxes and assessa~enta ne:t due on tbe moit• gaged property (all as estiawted by the mortga~ee) lesa sll sums already paid theretor dtvided by We number of moaths to elapse before one montl~ prior to the date when such ground rents; premiums. ta:es, and asseasments ~rltt become de- tinque~t, such sums to be held by mortgtgee in trust to pay said ~rouad rents, premiums, ta:es, ~ndspecialpssessmeqts; aad jc/ All payments mentioned in the t~ro precediag subsections o[ this paragraph and aii payments to be made under the aote secured hereby shatl be added together aad the aggregate amount thereot shalf be paid by the mo~t¢agor each month in a single payment to be applied by the mort~agee to the following itea?s ia We order set torW: ' (I) premium chargea under the contract ot insnrance aiW tt?e 5ecietory of HousinQ and Urbso Development, or monthly charge (ia tten ot moKgaQe insurance preaie~o), sa tlie case may bs; (II) gwund rents, tazes, assessmcnts, fire, aad other hazard insurapce premiums; . (III) intercst on the note secured hereby; and (I~ amortisation of the principal of said note. Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the mortgagor prior to the due date of the neat such payment, constitute an event af deEault under this moctgage. The mortgagee may collect a"late charge" not to exceed two cents (7~) fa each dollar (t1) of each peya~ent moce than fifteen (15) days in arrears to cover the extra expense involved in baldling delinqueat payments. 3. T6at iE the totai of the peyments made by the mortgagor undec (6J of paragraph 2~eceding sball ezceed the amount of payments actua!!y made by tbe mortga~eee, for 6round~ rents, teues and assessmeats aad insurance prPmiums, as the case may _be. such excess shall be credited by the mortgagee on subsequent peyments to be made by the moctgagor. If, hrnivever, the monthly payments made by the mo~tgagor under (b) of peragraph Z pre- ceding shall not be suEficient to pay ground rents, taxes and sssessm.~nts end insurance premiums, as the case may be, whea the same shall become dae and peyable, then !he mottgugor shall pay to the mortgagee aay amount necessary to make up the deficiency, on a befae tbe date when payment of such ground rents. tazes~ assessments, or insurance premiums shall be due. If at any tia~e the mortgagor shalltender to the mortgagee in accordaace vvith the provisions of the note secured hereby, full payment of the entire inde6tedness represented theceby, tbe mod- gagee sbait, in computing the amount of such indebtedness, credit to the account of the mortgagor all payments made unde~ the pravisions of (a) of paragraph 2 hered which the mortgagee has not becane obligated to pey to the Seccetary oE Housing and Urban Developmeet and any bslanCe remaining in the funds accumulated under the provisions of (b) of said parag~aph 2. If there shall be a default under any of the provisio~s of this moctgage, re- sulting in a public sale of the pcemises covered ~ereby~ ot if the moctgagee ecquires !he property other~vise after defautt, the moctgagee sball apply. at tbe time of the con~mence,ent of such proceedings or at the time the prop- eriy is otherrvise ~quired, the balance then remaining in the funds accumulated undec (6J of paragraph 2 preceding as a credit against the amount of principal then remainiag unpaid under said note and shall propecly adjust any payments which shell have been made under (oJ oE said parsgraph. 4. That he will pay all taxes. assessments, water retes, and dher governmental or muaicipel charges, fines. or impasitio~s, for which provisiai has not been made hereinbefae, and in defauit theceaf the mortgagee moy pey the same; and that ht will promptly ~eliver the a~(icial teceipts thecefor to the mortgagee. ' ~ 1 " ~ ~ _ ~ ~89 ~iU66 ~ ~ ~ _ _ $ - . ~ f ~~1~ _ ~-~~t~.~,~.~'~.~ _ _ . . ~