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Home My WebLink About1075 . ~.id mortgago~ daes he?eby full~~ w~rrant the title to s~~d land, and ~~~ec~• pYCt therco(. and w~ii de(end the same ega?nst the lAwful cla~m~ o( aIl petsons whansoevet. PROVIDED ALIIAYS, and thsse preseats are executed aed-delivered upo~ the follavi~g co~ditions. to Mit: The mat~agoc agcees to pay tl~e mort~ag~e, or adet, the pcincipal sum o[ u(~ ~~M H~ ~ NN~~~N~NN~~~~~~N~M~~~~~~N~~~~i~~~~~N~~~~r~~~~~i~N~~~~~~~~~~~~~~~~~~ pollacs (S as e~idenced by a note of even dptc heceMith, ~vith interest fwm date at the rate -oi t3qt~ i o11l~1~ per ce~tum ( 0~ 9G) per annum aa the unpoid balance unt~l peid. The said pcincipal and interest shall be poyable at the oi[ice of !!'OG7~011, M~i~ • O~YIN i CaK~l1~lY . 100 1t~st ~ str~et , Jack~anvill~. Flotida, or at such othe~ place as the holder of the ~ote aiay designate ie writing, in monthly iestallments of Q~ H~iD ~-'iN0 ~ 27/100 Dollacs (S li2.Z7 coma~encing on the. licst day oE ~p . 1971 . and on the first day ot' each moath thereafter untilthepcincipal and interest are tully paid. escept tl~t the fiaal Qayme+~t of principal aad interest,_[E not sooeec paid. shall be due and paysble oe the first day of J~aYy, ~001. And shall duly, pcoesptly. and Eully pedocm. discharge, execute. effect. complete. end comply with ond abide by each and every the stipulatio~s, agreements, conditions. aad coveaants of said pcomissory note and of this mortgage, then this ~no~tgage and the estate hereby created shall cease and be nult a~d void. And the mortgagoc ftuthe~ covenants ss tollo~rs: .1. That be will pay the indebtedoess. as heceinbefore p:ovided. Priviiege is resenred to pay the debt in ~vhole. oc in an anaunt equal to ooe a more monthly payments on the ~principal that are ae:t d~u on the note. on t!K Eirst da~~ of any month pcior to rtwturity: Pro~•ided, howevet. that written notice of an inte~tion to exercise such pcivilege is giNen at least thirty (30) days pria to prepoya~eat; and. ptovided Eu~ther, that in the~event the debt is paid in tull pcior to maturity aad at that titoe it is insured under the provisions of the Natio~al Nousiag Act. he will pay to the mortgagee an adjusted premium charge of a~e per centum (1'X~) of the original pcincipai omount theceo~. except that in no e~~ent shall the adjusted premium e:ceed ti~e aggcegate aawunt oE pcemium charges whicb wonld have been payable if the mo~tgage had continaed to be insured until ~aaturity;~such payment to be applied by the mort- gagee upon its obligation to the Secretary of Housing and Urban Developme~t on account of matgage insurence. 2. That. in order more fully to protect the security of this mortgage. the matgagoc. together vvith, aad in addi- tia~ to, the monthly payments w~der the terms of the ade secured hereby, on the first day of each awath until the said note is fuliy paid. arill pay to the moctgagee the foliaaing sums: ~ "ta ~ An amount sutticieat to provide the Aolden c~reo[ ~vith [uads to pay thc ne:t mortgage insunnce premium it this instnr ment and tM aote secured her~br arc insured, or a monehlp c6arge (in licu of a diortQage iasuraace premium) if they ate hetd by thc Secretar~r ot Hwsiu~ aad Urbaa Development, ~s follows: (I) It and so loa~ ~s said note ot evca date aad this iastrumeat ~re insured or are reinsurcd under the pwrisioas o[ the National HousiaQ Act, aa amouat satCcient to sccumulate in tAe hands of the holder oae (1) moath prior to its due date the aaauai martgage insur~ce premi~, in ordet to provide cuch holder writb fuads to par suc6 premium to t6e Secrctary of Housine aod Urban Developaeent punuant to We Platioaal Housing Act, as amended, and applicable ReQu- latims thereuadcr: or (II) if aad se loag ps said note ot even datc and this instrument are held br the Secretary of Housing oad Urban Develop- meat. a moathly charge (in lieu ot s mort~age iasurance premium) wrhich shall be in an amouat equol to oae-tweltth (1 '1~ ot oae-half (~h) per ceatum of the aver~ge outstaadinQ balance due on the aote computed ait6out tal~ia~ into account delinquencies or prepaymeats; !h/ A sum equat to tht Q,mund rents, it anr, ne:t due, plus the prcmiums that wrill next become due and payable on policies of fire aad otl~er hazard insuraace covering t6e mort;a`ed property. ptus Lzes and assessmeats ne:t due oa t6e mort- ' ga¢ed prapertq (all as estinated bq tl~e mortgaeee) lesa all sums already paid Wercfor divided by the aumber of moatLs' ~ to elapsc betore one mooth prior to the date wrhen such ground tmts, peemiums, ta:es, and ~ssessmeats wrill become de- ' ~ l~nquent, such sums to be held by tuortgaQee ia trust to p~~ said ~wued rcnts. premiuss. tvices. ~ad special assessments; aad - ~ !r/ All pa~ments meationed ~n the t~ro preceding subsections o[ t6is para~rap6 aod all payments to be made under the note secured hercbp shall be ~dded toQetl~e~ and tLe a~eQate amount thereof shall be paid by t6e mortQaeor e~ch moath in • t single paymeat to be applied by the mort~a~ee to We toUovinQ items ia tlie order set [ort6: ~ (1) premium c6arqes under the contract of iasuraace ~vitb the Secretarp oi Housin~ and Urban Development, or moathly charge (in liew of ~oort~a~e insuraace presim~ as tbe case ~oar be; (il) eround crnts, tase:, ascessments, t~re, aad other h~urd iasurance premiums; (III) iatcrest oa tbe oote securcd herebr; aud (IV) amortuatioo of the priecipal o[ sud note. ~ Any deficiency_ in the acjount d snch aggregate monthly payment shall, uniess made good by the mortgaga prior 1o the due date of tl~e next sucb p~yment, constitute an event d default under this mortgage. The moctgagee may collect a"late c6arge" not to esceed t~o cents (2t) for each dollar (Sl) of each payment awce than fifteen (15) days in arrears to cover tl~e estra e:pe~e involved ia 6andliog delinquent payments. 3. That ii the total d the peymeots made by tbe matgagor under (bJ of paragcoph 2 pceceding slwll e:ceed ~ the amount d payments actually made by the mactg,agee, fo~ ground reats, taxes and assessments end insurance premiums, as the case may be, such e:ceas shall be credited by the moctgrrgee oa subsequent paymeats to be made by the mortgagor. if, horrever, the monthly payments made by tt~e matgagor under (bJ of paragreph 2 pre- 1 ceding shall nd be sufficient to p~y g~arnd rents, taxes and assessm.~ats and iasurat~ce premiuau~, as the case may be. ~rhea the same sball become due aad poyable; thea tbe matgngoc shall pay to tbe mortgagee any amouat necessary to ma{ce up the deficieacy, oa oc befae tbe date when Payment ot such gROUnd rents, to:es, asses~ments. ~ or insurance pre~niums shall be due. If at any time the mortgagoc shalltender to the mortgaQee in accordance writh 4 the provisions of the note srcured lxreby, full payment o[ the entire iadebtcdness represented tF~ereby. the mort- ~ gagee shall, in computing the amount of such indebtedness, credit to tbe account ef tbe enortgagor all payme~ts ~ m~de under tbe pxovisions ot (o) d paragtaph 2 hereo[ whicb the mattgagee has not become obligated to payto ~ the Secretary af Honsint and Urban Development and any balance remaining in the funds accumulated uader the ~ provisions d(6J d said paragcaph 2. U t6ere shall be a default under any d tbe pravisions ot this mort~ge. re- ~ sulting in a public sale of the premises covered xreby. or if tbe ma~tgag~ee acquires the property othecwise after ~ detauh. the morteagee sball ap~lr, at tbe tiee ot tbe co~oescxarent o[ wch proceeding~s a at the time the prop- - erty u otherwise acquired, tbe balance then re~aining in the funds accumulated under (6J af paragraph 2 pcecedin~ as a credit a~,ainst tbe amount of prlncipol tben remaiain= uapaid under said note and shall properly odjust any y payments wkicb shall have been made uader (01 d s~id para~aph. ~ T6at he will p~y all taxes, aasessaents, w~ater rates, aad other ~overnmental or municip~t char~es, fines, or impositions, for whicb pravision has aot been awde hereinbefae. end in default thered the moct~,esee may poy the sr.me: and that be wiU pranpt{y deliver the olEicul receipts tbecetor to the mat~`ee. ~z8s ~1a7z ~ . ~ , ~ , A T ~ . •s- ~ _ r--.~ " ; ~ _ - . , ~ _ _