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Home My WebLink About2127 ! ~ ~ ~ ~ ~ said mortg,~gw doc~s hereby fully war~ant thc title to said land, and ~very• p~rt the~eoE. and wilt defend the same ~gainst tM tawtul claims ot atl penoos whomauevec. ' PROVIDED A1,VYAYS~ ~nd these presents are executed aad deliveced upoa the Eollowias ca~ditiaas, to wit: The matgagor a~cees to pay the mort~agee. ot orde~. tbe priacip~l su~ of g~ ~D ~~~~~~~~~~~~~~~NN~~NNNM~~~N~~~~~~N~N~N~~Nw~~~N~~~~~~NMN~~~N Dollars (S 16,600.00 as evidenced by a note of evtn date hece~rith, with intecest from d~te at the «,te ot lf pec centwa ( ~ per anaua~ oa the uapoid balaace until paid. ~~i~ p~i~ and irttecest shali be payable at the office oE si'OC~, Ai?YZN i COIt~Y , 100 Msot Hht Sts'eet ~ Jacksoavill+s. Florida • or at such other place as the holder of the note may desigpate i~ writiag. in iaonthly iastallmeats of '1N~TPY-S'aVali ~D 65/100 Dnlla~s (S 127.65 commencieg o~ the Eirst day ot g~yasy . 19 71. and on tbe first day oE each eioath thereaftec uMilthep~incipal - and interest ace fully paid, except tl~at the final paymcnt of principal aad interest, if aot sooaet paid. shall be due and payable oa the first day of J~ttiua~c~(, Z001. And shatl duly, promptly. end fully pedocm. discharge. execute, effect. complete. and comply with aad abide by each and every the stipulations. agreements. canditions, aad covenaats of said promissory note and of this ' mortgage. then this mortgage and the estate heceby created shall cease and be null aAd void. And the matgaga further coveaants as follows: 1. That he vrill pay the lndebtedness. as herei~before provided. Privilege is reserved to pay tbe debt in ahole. or in an amount equal to one or moce monthly payments on the principal that are next dne oa tbe aote. on the first day of any mo~th prior to maturity: Provided. hoWever, that writtea uotice of aa iatentim.fo eseccise such privilege is given at Least thitty (30) days pria to prepayment; and. pcovided further, that ia tbe eveat the debt is paid ia full prior to maturity and at that time it is insnred uader tbe pcotrisio~s d tlre National Housing Act. he will pay to the mortgagee an adjusted premiaa~ charge of one per ceatum (17L) of the original priacipal aaouat tbereof. except that in no event shall the adjastad premiwn exceed the a~cegate amauat oE pcemiua cbar~es ~rhich would have been payable if the modgage had ooatinued to be insured until maturity; such payment to be applied by the moct- gagee upon its obligation to the Secretary of Housing and Urban Devetopment on accouat cf mortg~ge insurance. . 2. That. in order more fully to protect the security of tbis mortgage. the mottgagoc. together wit6, and in addi- tion to, the monthly payments under the terms of the note secured hereby, on the first ds~y of each month until the said note is fully paid. will pay to the mortgagee the following sums: (o) An amount sutficient to provide the holder hercof aith funds to pay the aest mort~a~e insunnce pcemium i[ this inatru- ment and the note secured hercby are insured, or a mo~thly char~e (in lieu of a mort~age insur~nce pcemium) i[ they ~re held by the Secretsry ot Housing and Urban Development. ss lollovs: (I) I( and so loag as said note of evea date and this instrument ~re inaured or art rcinsured onder the provisions of tbe National Housing Act, an amount sutCicieat to accumul~te in thc hands of the 6oider ooe (1) awnth prior to its due date the annual mortgage iasurance p~emium, in order to provide such kolder witb tunds to paT suc6peeaium to tLe Secretary of Housiag and Urbaa Development pursuant to the IVatioaal Honsio~ Act, ~s amend~d. aad applkable ReQn- lations thereuoder; or (II) I[ and so long as said note of even date and this insirumeat cre held by the Secretary oE Housin~ and Urban De~elop- nent, a monthly charge (in lieu of a mort~a~e insurance pcemium) ~v6ich s6a11 be in an amount equal to oM-twrelfth (1I12) o[ one-hsl[ (y~) per centua~ of the average oYtstaadin~, ba~ance due on the aote ca~puted without tatin~ into accouet delinque~ies or prepayments; • ~ (6/ A sum equal to the ground renta. if aar. ae:t due. plus the premiums that ~vill ne~ct become dne aad p~yable on policies ot fire and other hasard insuraace coveriaQ the mortgaQed property. plns tases ~nd sssess~sents eatt d~e on t6e mort- gaged property (all as estimated by Wr mortgaQee) less all sums alreodr paid t6erctor divided by tbe aumber of ooat6s to elapse be[ore one monW prior to the date ~rhen such eround rents, premiums, tases. aad assessmeats ~vIU become de- linqueat, such sums to be held by mortQa~ee in trust to par said grottod repts, pjemi~eps, t~es, aadspeeialassessments; and - ~ (c} All payments mentioned in the tpo precedin~ subsections ot this paragraph and alt paymeats to be made ~mdrr tbe aote ; secured hewby shall be added togetder and tLe aggFe~ate omount thereof shall be paid br t6e morl~a~or each month in a single payment to be ipplied 6r the mortQagee to the [ollo~via~ items in We order aet Eort6: i (I) premiuro charges under the contract ot tnsatance ~rith tUe SecreUr~ ot Honsit~ attd Urban Derelopmeat, or mont6l~ ~ charge (in lieu o[ mort;s~e insurance pret~ium). ~s t6e case mq bt; i (I[) ground rents, ta:es, assessments, flre, and ot6er hasard ia:unnce premiums; ~ (Ill) interest on the note stcured 6ertby; aad t (I~ amortization of tbe priucip~l ot said note. F Any deficiency in the amount ot such aggregate monthly payment shall. unless made good by tbe moctg~agor e prior to the due date of the next such payment. coastitute an tvent d default under this mo~tgage. The modgagee ~ may coUect a"late charge" not to exceed two cents (2~) foc eacb doltar (Sl) of each p~yment mae then fifteen ~ (15) days in arrears to cover the extra e:pense involved ia haadling deliaquent payments. ~ 3. That if the total of the peymeets mede by the mo~tg,agor undet (bj ~ poragtaph 2 paceding shall e:ceed ~ the amount of payments actually made by tbe martg,a~ee, Ea gronnd reats, ta~tes and asaessoents and iosucance premiums, as the case may be, such excess shall be ctedited by tbe mortg,ngee an subsequeat payweats to be ~ made by the mortgagor. If, hawever, the monthly payments made by tbe mortgagoc unda (bJ d paragraph 2 prr ceding shall not be sufficieat to pey gtound rents, taxes and assessm.~ats and insnrance ptemiums, as the case . ~ roay be. when the same shall become due and payable, thea the matgugor sball pay to the mortgegee aay amoant ; necessary to make up the deficiency, on or before tbe date whea payment of suc6 g~aud rents, tanes, assessments, ` or insurance premiums shall be due. If at any time the mortgagor shell tender to tbe mortgagee in accocdaace with ~ the provisions of the note secured hereby, full payment of the entire indebtedness represented tliereby, the mort- g gagee shall, in computing the amonnt af snch indebtedaess. credit to tbe acco+wt d tbe matgagor all paymeats ~ made under the Qravisions of (o) uf peragRaph 2 hered which tbe mortg~gee !wa aot become oblig,~ted to pay to ' the Secretary of Housing s~nd Urban Development and aQy balance remainiag ia the fuads acxumnlated under the ~ provisions of (b) of said paragcaph 2. If thece shall be a default undar any of tbe provisioas of this matg,age, re- ; sulting in a public sale of the premises coveced ~ereby, a if tbe matgag,ee acqnires tl~e pcopecty otbeiwise after ~ default. the mortgagee shall apply, et tbe ti~ae of tbe commencement of such pruceeding,s or at tbe tin~e the pcop- ~ erty is othe~vvise acquired, the bslance thea remaining in the fonds accumuleted under (6J oE paragtaph 2 preceding ~ as a credit against tl~e amount of principel tben remaining unpaid under said Aote and shall properlyadjust any ~ payments which shall have been made under (a) oE said paragraph. ~ 4. That he Mrill pay all taxes, assessments, water rates. aad d6er governmental a municipol clwcges. fines, ~ or impositions, for ahich provision has n~ been mede hereinbefoce, sad ia default t6ereaf the moctgagee may pa~y ~ the same; and that he will promptly deliver the oEficial ceceipts tbereEor to the moctg~agee. ~ ~ ~ - ~ ~ ~ ~ - - ~ _ . _ _ _ s n "~~~-.~~~~-~~;.~~~v ~ , ~ _