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Home My WebLink About0499 ~ ~ ~ i ~ : ~..id ~~:.ut~;:~~;ur c?.~c•> hrreh~ fully warrant th~ tittc to said land. and e~•en ~+att thereof, a~d w•ill defeizd the same ..~r.inst tt?e t.,wtul cla?ms ui ail persons w~h~~m~oe~•er. P!?O\'IDEU 4LNAYS, and these presents are executed and deli~~ered upon the following conditions, to wit: The martti.~gor agiees to pa~ the mortgagee, or order, the principal sum af EIGNl'SEN THOUSAND SIX FiUNDRED AND NO/100 Uollacs ~5 18,600.00 as e~~denred b~• a note ot e~•en date herewith, with interest from date at the r.~te ot eight & one~hsll` per centum ~ 8;i o) per annum on the unpaid balance untii ~id. The said pr~ncipal and ~nterest shall dc pa}able at the office oi ~N, i~".'IRY, OAVIN & COMPANY 100 West 8ay Street . Jacksonville, r^lorida, .u at ~uch other ptace as the holder of the note ma~• des~gnate ~n writing, i~ mon?hly installments ot 0[[~ HUPID~RED FQEtTY-TF~iEE AI1D 03/~00 -------------------Dollars (S 143.03 commencing on the first day ot April . 1971 . and on the first day of each month thereafter untiltheptincipal and ~nterest are full~• paid, except that the final pay~ment of principal and interest, if not sooner paid, shall be due and pa~•able cm the first da~• of Harch, 2001 And shall dul~•, promptl}•, and full~• perform, discharge, execute, efEect, complete, and complp with and abide ht e~ch and e~•er~~ the st~pulations, agreements, conditions, and co~•enants of said promisso~y note and oi this mortg;,ge, then this mortgage and the estate hereb~• created shal! cease and be null and ~•oid. And the mo~tgagor further cQVenants as follows: l. That he w~ll pa~• the indebtedness, as hereinbetore pro~•ided. Pri~•itege is reserved to pay~ the debt in whole. or ~n an amount equal to one or more monthl}~ payments on the principal that are next due on the note, on the first da~ i~f am~ month prior to maturit~•: f'?~~<<d.•d, however, that written notice o[ an intention to exercise such pritilege i~ ~~~•en at least thirt~• (30) da~•s prior to prepayment; and, provided turther, that in the event the debt is paid in fu11 pr~or.to maturit~ and at that time it is insured under the provisions of the Nationai Nousing Act, he will pay to the mortgaRee ~n adiusted premium charge of one per centum (1 0) of the original principal amount thereof, except th.~t in no e~•ent shall the adjusted p~emium exceed the aggregate amount oi premium charges which would ha~~e been pa~•abie if the mortgage had continued to be insured until maturit~•; such pa~~ment to be applied by the mort- gagee upon its obligation to the Secretar}~ of Housing and Urban Development on account of mortgage insurance. 2. That. ~n crder more futty to protect the securit~• ot this mortgage, tfie mortgagor. together with, and in addi- tton to, the monthl~• pa~~ments under the terms of the note secured heteby, on the ferst day of each month until the s;,id nute is fullt• y~+~d, w•ill pa~• to the mortgagee the follovving sums: A~ .+r...~un! s::ffi. ient to prn~ide thr huldrr hrreof w~ith funds to pay~ thr next mortga~e insura~ce prem~um if th~s ~nstru- ^.e•nt a~dthr notr srcuted herrba ere msured, or a monthi~ chyrge (~n lteu of a mortgage insuranet ptem~uml if the~• are he~:d t~~ the Srcrrtar? ot N.~us~n~ ~nd Crban Development. as [ollows: 1! 1( an ~ s.+ ::~n~; as +aid note of ecrn date and this mstrument are insured or are retnsured under the provis~wfs o( the \etiondi H~~usinK Act. an amuunt suffuient to accumulate in the hands o( the holdet one (1) moath prior to its due ~a:.• the annua! -:ongage insuranre prem~um. in ordcr to proe~de such holder with funds to pay suchpremium te the ~rcreten of Housmg and Urban Dea•elopment pursuant to tht National Hous?ng Act. as ammded, and applicable Regu- ;oti,~~. !hrn•under, cr ~ ' .!1; If dr.d so !on~ as said n.,te oE e~•rn date ~nd th~s Instrument are held by the Secreury o[ Housing and Urban Develop- ^.•nt, a^:_.nlhic char~;e ;m itru of a mortgage tnsurance premium) whuh shall be in ae amount equai tv one-tweifth t ~ 1 vf onr-heIf ~~;1 per crntum of the aeerage outstaading balance due on the ncte computed without taking into ar_.~:int deiinqurnctes or prrp~)'rrmts, i ' A~uT. rqual to the ~round rentc, if an~, next due, plus the premiums that w'iU ne:t become due and pa~•able on pol~cies i ! f:.r and ;~thrr hazard insurance covenng the mortga¢ed propert~~, plus t~xes and assessments next due on the mort- .•eKrd pn,pcrtt ~all as rstimated b~ the r..ortgagee) less all sums already paid theretor divtded b~• the number of months ~ t~.~ c•:ap.~ brf;~rr .~nr month pnor to the date Mhen such ground rents, premwms, ta:es, and assessments will become de- :inqurn;. such sur..s !o be he:d b~~ r.~OrtgSgee m trust to pa~ said ground rents, premfums, ta=es, andspeclalassessments, a:~:i A;: ,.a~c.rnts r..eattonc~d in the two prpcrdinq subse~Uons of this paragraph ar?d all paymenls to be mede under thr note .c•. urrd hrrrby shall be added together and the aggregatr amount thereo[ shalt be pud bp the mortgagor each nonth irt a ~ ~:r.;;r , e~T.ent to be appiied bi the r.:urtgagee to the tollowing items in the order set torth: ~ 1~ pre:ni~~ charges under the contract ot insuranc~ wlth the Secretary of HousinQ and Urbaa Development, or monthi~ c h.rke (in liru of :nortgage insurance premrum), as the case may be; +fI! ~round rents, taxes, assessments. [~re. and ether hazard insurance premiums; ~ Illl mtere~t on the note ser_ ured herebp, ~rd :Il''. ar..~rtitafson o( the prtnc~pal ot said note. An~~ deficienc~• in the ar.rount of such aggregate monthly payment shall, unless made good by the mortgagor prior to the due date ot the next such pa}•ment, const~tute an event of default under th~s mortgage. The mortgagee Ta~ coFlect a"late charge" not to exceed two cents (2C) for each dollar {S1) of each payment more than fifteen ~1~) da~s ~n arrears to co~•er the extra expense invol~•ed in handling delinquent payments. 3. That if the total of the payments made by the mortgagor under Ib/ ot paragraph 2 preceding shali exceed ~ the amou~t of pa~•ments actually made b~• the mortgagee. for ground cents, taxes and assessments and insurance ~tE'(T1!UT~. eS shr case rr.a}• be. such excess shall be credited by the mortgagee on subsequent payments to be mede bv thr mortgagar. If, howe~~er, the month]y payments made b~~ the mortgagor under (b/of paragraph 2 pre- ~ cedin~ shall not ue sufficieret to pa}~ ground rents, taxes and assessm~•nts and insurance premiums, as the case ~ rr.a~ w he~ the same shall become due and pa~•able, then the mortg~gor shall pay to the mortgagee any amount ~ necessar}~ ta ~ake up the def ic~ency, on or before the date when payment of such ground rents, taxes, assessments. ~ or insurance prern~ums shall be due. If at an~• time the mortgagor shall tendet to the mortgagee in accordance with ; ; the proc~s~ons vf the note s~cured hereby, full paycnent ot the entire indebtedness represented thereby, the mort- } ~ ~agre shaSl, tn comput~ng the amount of such ~ndebtedness, credit to the account of the mortgagor all payments ~ ~ made under the prrn~?s~ons of ~al of paragraph 2 hereof v?h~ch the mortgagee has not become obligated to payto ~ the Secretary of Huusjng and Urban Development and any balance remain~ng in the funds accumulated under the ~ ~ procisions of ri~1 of said paragraph 2. If there shail be a default under any of the provisio~s of this mortgage, re- ~ ~ sull~nK ?n a puhlic sale of the prem~ses covered iereb~•, or if the mortgagee acquires the property otherv~~se after ~ ~ deiauft. thr mortgagee shall apply, al the time ot !he commencement ot such proceedings or at the t~me the prop- ° ~ ertc tis otherw~se acquired, the balance then rema~n~ng in the funds accumulated under (j~i of paragraph 2 preceding ~ as a credit aga~nst !he amount of princ~pal then rematn~ng unpaid undet said note and shali properlyadjust any ~ pa}•ments w~h~ch shall ha~•e been made ur.der (u/ of said paragraph. ~ 4. That he will pa~ atl taxes. assessments, water rates, and othet go~~ernmerttal or municipal charges, fines, ~ or impvsu:uns. for w•hich prc~.~~s~on h~s not been made hereinbef~e, and ~n default thereof the mortgagee may pay thE~ same, Nnd th:,t he a•il! prompilt dein•er the o([~cial receipts therefor to the mortgagee. ~R 2 f Je ~ ~ ~ ~a ~ C,`v~ - y~~ . - _ ~ n~. . _ . . _ . , . _ ~ st~ , . _ . . ^..5;.