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Home My WebLink About1081 i . . sdid morlgagw does hereby tully wacrant the title to soid land. and eve~y port theceot. end will defend the same :+ga~nst the lawtul cleims ot all persons whomsoever. PROVIDED A[.IKAYS. and these presents are executed and deliveced upon the folloaring conditio~s. to wit: The mortgagor agrees to pay the matgagee. ot ocdec. the principal sum of ET(s~l T80~lp ~IVa ~kDRaD ~ ~RJ/?~ ~~~~~~N~~~~~~~N~~~~N~~~~~N~~~~~~~~IN~~~~~~~~~~~~~~~~M~~~~~~~~~~~~~~~~~~~ , Dolla~s (S 18,500.00 as evide~ced by a ~ote o[ even date herewith. with interest Irom date et the rate oE ei9~ per centum ( e~ 'X.) per annum on the unpoid balance until paid. The said principal and interest shall be payable at the office of ~ ~ S1~Ot,7~TOt~1, N~1T?a!, D~VIII ~ OOIt~l111Y, 100 M~Nt D~y Sts~et, Jack~onvill~. Florida, oc_at such other place as the holde~ of the note mey designate in writing. in monthly installme~ts of ~g ~ F~Y-"1M0 ~ Z7/100 Dollars (S 142.Z7 commencing_on the first day of ~ . 1971 . end on the first day oi each month thereafter untiitheprincipal and interest are [ully paid, except that the Einal payment of principal and interest. if not sooner paid, shall be due and payable on the first day of ~Tnttyuucy, Z001. A~d shall duly. promptly. a~d fully pedorm, discharge. execute. effect. complete. and comply with and abide by each and every the stipulatioas. agreeme~ts. conditions. and coveaants of said p~anissory note and of this mortgage. then this modgage and the estate hereby created shall cease and be null and void. And the matgagor Eurther covea~ants ~s follows: , . ~ 1. That he will pay the indebtedness. as hereinbeEore provided. Pri'vilege is reserved to pay the debt in whole, or in an amount equal to one or mae monthly payments on the principel that are next due on the note, on the first day of any month prior to maturity: P~ovided. however; that written notice of an intention to exercise such privilege is given at least thidy (30) days prior to prep~yt~nt; and. provided fudher~ that in the event the debt is paid in [ull prior to maturity and at that time' it is insured undtr-the pwvislons of the Natioaal Housing Act, he aill pay to the mortgagee an adjusted premium cherge of -oae per ce~taa~ (1!G) ot the orlginal prlacipal amannt thercof. except that in no event shall the adjusted premium exceed the eggts~ste aaaouat of premiWa charges whicb would have been payable if the matgage had continued to be insured until maturity; such payment to be applied by the mort- gagee upon its obligation to the Secretary of Housiag and Urban Development on account of mortg~age insurance. 2. That. in order more fully to protect the security of this mortgage. the mortgagor. together with. snd in addi- tion to, the monthly payments under the terms of the note secured hereby, on the first day of each month until the said note is fully paid. will pay to the mortgagee the follvwing sums: ~ ~nl An amount su[ficient to provide the holder hereot with fuada to pap the nest mortgage insurance premium it this u?stru- ment and the eote secured hereby ar~ insured, or a monthlr chargt (in Iieu o( a mortgage insurance premium) if they arc held by the Secretary of Housing aad Urban Development. as followrs: (1) 1( a~d so long as said aote of evea date and t6is iasWmeat are insurcd or are reinsured under the pwvisions oE the National Housing Act, aa amount sutficieat to accumul~te ia the hands o[ the holder one (1) month prior to its due date the artnual mortgage u?surance premium, ia ocder to pwvide such holder writh funda to pay such prcmium to t6e Secretary of Housiag aad Urban Development pursuant to the Natloaal HousinQ Act, ss amended. aad applicable Regu- tations thereuader; or (II) if and so long as said note ot even dote and this iastrument are held by the Secretary of Housing aad Urban Develop- ment, a monthty charge (in lieu o( a mortgage insuraace premium) ahich shalt be ia on amount equal to one-tweltth (1.'12) ot one-half (yS) per ceatum ot tM average ontstaading balaace due on the aote computed without taking iato account delinquencies or prepsya?eats; (b/ A sum equal to the ground rents, it any, ne:t doe. plus the prcmiums that wlll ae:t become due and payrble on policies of fire and other hazatd insurance coverine the moctQaQed propetty, plus ta:es ead,assessmeats oe:t due oa the mort- gaged property (all as estimated bp the mortgsgee) lesi all sums ~lready paid therefor d'evided by the number of months ` to elapse before one month prior to the date when such ground rents, premiums, tazes. and assessmeals will become de- - linquent, such sums to be held by mortQagee in trust to pay said ground rents, Qremiums, ta~ces, and special assessmeats; ~ and ~ (c) All payments mentioned in the two preceding subaections of this parpgraph and ail paymeats to be made under t6e aote ~ secured hereby shail ~?e added together and the aggregate amouat thereof shsll be paid by the mortgagor each moath ia a single payment to be applied by tbe mottga~ee to the tollowring items in tt~e order set forth: ~ (n premium char~es under the contnct of insurance ~rith the Secretary of HousiaQ ~nd Urban Development, or monthly charge (in liea o[ mortgage insoraace premlum). ¦s the cue mar be; ~ (II) ground rents, tases, assessments. tire, and other hazard insurance premiums; s (III) interest oa the note secured hercby; and ~ (i{~ amortization ot the priacipal oE said aote. s ~ Any deficiency in the aciount d such aggregate monthly payment shall, unless made good by the mortgagor prior to the due date of the next soch paymeat, constitute an event of default under this modgage. The modgagee may collect a"late charge" not to exceed two cents ~(2~) for each dollar (Sl) of each payment more than fifteea (15) days in arrears to cover the extra expense Involved in hendling delincµ~eat payments. 3. That if the total of the payments made by the moctgagor under (6) of parag~aph 2 pceceding shall e:ceed- the amount of payments actually made by the mortgagee, fot ground rents, taxes and assessmeats and insurence premiums, as the case may be, such exceas shall be credited by the moctgagee on subsequent peyments to be ~ made by the moctgagor. [f, however, the monthly payments made by the mortgagor under (6J oE peragreph 2 pre- ceding shall not be. sufficient to pay ground rents, taxes and assessmants and insnrance premiums, as the case ~ may be, when the same shall become due aad peyable, then the matgagor shall pay to the modgagee any amount necessary to make up the deEiciency. on or befae the date whea payment of such gcound reats, texes. essessments, ; or ir~surance premiums shall be due. If at any time the mortgaga shall tender to the modgagee i~ eccordance with ~ the provisions of the note secured hereby, full payment oE the entire indebtedaess represented th=reby, the mort- g gagee shall, in computing the amount of such indebtedness. credit to the account of the mortgagor all payments - ~ made under the pravisions of (o) of paragRaph 2 hereof which the mortgagee has not becoa~e obligated to peyto ~ the Secretary d Housin6 aod Ucban Development and any balance remaiaing in the tunds accumulated under the ~ provisions of (bJ of said paragraph 2. If there shall be a default under any af the provisio.~s of this mortg,age. re- ~ sulting in a public sale of the premises covered ~ereby, a if tbe matgagee acquires the propecty otherwise after default, the mortgagee sh~11 apply. st the~ ti~e oE tbe coemence~e~ .af such proceedings or at the time the prop- ~ edy is othervnist acquired, the balance then remaining in the fands accumulated under (b) of paragraph 2 preceding as a credit against the amoant oE principal then remaining unpaid under seid note snd shall properlyadjust any ~ payments which ahalt have been made under (o) oE said para~roph. 4. That he will pey all taxes, assessments, water retes, and other governouental or municipel charges. fines. or impositians, for ~rhich provision has not been awde heceinbefae, and in default thereaf the mortgagee may pey the same; and that he will promptly deliver the oHicia{ receipts thecefor to the mortgpgee. ~ ~i~8,9 ~,~p;~ . ~ ~ ~ ~y/ ~ h y . - .ET .r'~ k . f , , l j^ ci' ~'~:--:r,y~, .rz;•v-..,4~.' ~ ~ ~ ~K r~ ~ f sY~.`: _ ~~~"'+.+~~i=~~ Y ~ _