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Home My WebLink About0658 r a t;:`~. ~ ; said mortK,~~;.~r duc~s he~eb}~ full)• w•ar~ant the title to said I~end, and evrry part thereof, and w~ll dcfind the same y :~K:,~nst the l~~w•ful claims of ail persons whomsoe~~er. PF20VIDED AL11'AYS, ~nd these pcesents are executed and del~ve~ed upon the following conditions, to wit: The murtg:~go~ agrees to pay the mortgagee, or ordec, ihe ptincipal sum of SDCT~N THQUS~AI~ID SIX HUNDRED ~ FIFTY AND NO/100 ~ Ik~ilars tS 16,650.00 as e~•idenced by a note of eve~ date herewith, with interest irom date at the r:~te ot eiqht & Oi1e~}1al° per centum ( 8~ o) pe~ annum on the unpaid balence unt~i p:~id. Z'he said principal and interest shall be payable at the o[fice of grp~TON, NHi~T~l7! ~ D71VTN & QO~MPANY : 100 Wiest Bay Street , Jacksonville , Florida, or at such othe~ place as the holder ot the note map designate in writing, in monthly installments of O[~IIs HUNDRED Dollars (S 128.04 commencing on ~frilaTT!'Y-SIGHT AND 04/100 the first da~~ of ~c}~ . 19 ~l , and on the first dap of each month thereafter untiltheprincipal and interest are fully paid, except that the final payment oi principa! and interest, it not sooner paid, shall be due and pa~•abie on the first day of February, 2001 And shall duly, promptl~~, and fully perform, discharge, execute, efEect, complete, and comply with and abide b~- each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void. And the mortgagor furthe~ covenants as Eollows: 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to pay the debt in whole, or ~n an amount equal to one or more monthly payments on the principal that are next due on the note, on the first d:~~ ot an}~ month prior to matucit~~: P.~~~ id~•d, howevec, that writteo notice of an intention to exercise such privilege is ~i.•en at least thirty (30) da~-s prioc to prepayment; and. provided [u~ther, that in the event the debt is paid in full pr~or to maturity and at that time it is insured under the provisions of the National Housing Act, he will pay to the mortgagee an adjusted premium charge of one per centum (196) of the original priacipel amount thereof, except that ?n no event shall the adjusted premium exceed the aggregate amount oE premium charges which would have been pa~•able if the mortgage had continued to be insured until maturity; such payment to be applied by the mort- , gagee upon its obligation to the Secretary of Housing and Urban Development on account of modgage insurance. ; 2. That, in order more Eully to protect the security ot this mortgage, the mortgagor, together with, and in addi- ~ tion to, the munthl~~ pa~•ments under the te~ms of the note secured hereby, on the first day of each month until the ~ said note is full~• paid, will pay to the mortgagee the follovving sums: ; r~n ar:.~unt suf(irirnt to ~+rovide the hotdcr hereo( wrth [unds to pa} the ne:t mortg~+ge ~nsurance premium if this instru- ~ rne•nt and thr note secured hereb~• are ~asured, or a monthl~ chorge (in lieu of a mortgage insurance premium) if they are + hr;d b~ thc Secretary of Housing and Urban Development, as [ollo~vs: ~ 1~!f ..nd so long as sa~d note o[ even date and th~s mstrument are insured or ore reinsured under the provisions ot the \dtional Housing Act, an amount su[[?cient to accumulate in the hands oE the holdet oae (1) month prior to its duc datr thr annual mortgage insurance premtum, in order to provide such holder w~ih fupds to pay suchpremium io the Serretar~ ot Housing and Urbaa Development pursuont to the Natio~al Housing Act, ¦a ~mended, and applicabte Regu- lations thereunder, or Il; If and so long as sa~d note of even date and th~s instrument are held by the Secretary of Housing and Urban De~eioE+- r..ent. a r.:onthl~• charge (in lieu of a mortgage insurance premium) which shall be in an amount equal to one-twelfth (1 12~ ot one-halt per centum o( the average outstand~ng balance due on the note computed without talcing into ac.-ount detinquenc~es or prepayments. ' A~u^: equa! to the ground rents, i( any. next due, plus the premiums that will ne:t become due and payable on policies i .•i tir~ and other hazard insurance covering the mortgaged property, pius ta:es and assessments neYt due on the mort- E ~.+ged propertp (all as esumated by the mortgagee) less all sums ~lready paid therefor divided by the number of months ~ t~> elaps~• before one month pnor to the daYe when sucn ground rents, premiums, taxes, and assessments will become de- ~ l,nquent, such sums to be held b~ mortgagee IR LNS~ [O pay said ground rents, premiums, ta:es, and special assessments; ~ end ~ A;I pa}'^.rnts rentioned in the two preced~ng subseclwns of th~s paragraph and all payments to be made under the note ~ ~ serured hereby shall be added together and the aggregate amount thereot shall be paid by the mortgagor each month in a .inK:e pa~•ment to be appl~ed by the mortgagee to the following items in the order set torth: ~ it) .nrezr:ium charges under the contract of insurance writh the Secretary ot Housing and Urban Development, or monthly charge (~n I~eu o[ mortgagc ~nsurance premium), as the case may be; 1I1) Qround rents, taxes, assessments, fire, and other hazard insurance premiums; II![) interest un the note secured hereby; and ill'1 arr.vrtttatton of the prir.c~pal o( said note. Am• def?c~e^c~• in the arnount of such aggregate monthly payment shall, unless made good by the mortgagor prior to the due date of the next such payment, constitute an event of default under this mortgage. The mortgagee Tat• collect d"late charge" not to exceed two cents (2¢) for each dollar (S1) of each payment more than fifteen (1S) davs in arrears to cover the extra expense involved in har~dling delinquent payments. 3. That it the to:al of the peyments made by the mortgagoc under (6) of paragraph 2 preceding shall exceed the amount of pay~ments actualiy made by the mortgagee. for ground rents, taxes and assessments and insurance ~ prem~ums, as the case may be, such excess shall be credited by the mortgagee on subsequent payments to be ~ ~ made b~• the mortgagor. If, however, the monthly payments made by the mortgagor under (b) of paragrs~ph 2 pre- ' ceding shall not be sufficient to pay ground rents, taxes and assessm~~nts and insurance premiums, as the case ~ ma~~ be. ~•hen the same shall become due and payable, then the mortg~gor shall pay to the mortgagee any amount necessary to make up the deficiency, on or befoce the date vnhen payment of such ground rents, taxes, assessments, or insurance premiums shall be due. lf at any timQ the mortgagor shalltender to the mortgagee in accordance with - the pro4is~ons o( the note serured hereby, full payment of the entire indebtedness represented thereby, the mort- ~agee shail. !n computing the amount ot such indebtedaess, credit to the accuunt of tbe mortgagor all payments ~ made under the provisions of /u/ of parap,caph 2 heteof which the mortgagee has not become obligated to payto ~ the Secretary of Housing and Urban Development and any balance remaining in the Eunds accumulated under the ~ pro~•isions of lb j of said paragraph 2[f there shall be a default under any of the provisiois of this mortgage, re- ~ ^~z ~ sult~ng ~n a pubiic sale of the premises covered iereby, or if the mortgagee acquires the property othecwise a ter defauit. the mortgagee shall apply, at the time of the commencement o( such proceedings or at the time the prop- ert~- is other.~ ise acquired, the balance then remai~ing in the funds accumutated under (h) of paragraph 2 preceding as a credit aga~nst the amount ot principal then remaining unpaid undet seid note and shall properlyadjust any payments which shail have been made under (a/ of said paragraph. 4. That he will pa1' alt taxes, assessments, water rates, and other govetnmental or munic~pal charges, fines, or ~:r:pos~tions, for which prav~s~on has not been made hercinbefore, and in default thereot the mortgagee may pay ~ the same, and that he w~fl prumptly delivet the oi[icisl ceceipts thetefot to the mortgagee. ~ r.Y .'.gi,.'!C ~ ° ° 19i 657 K - ~K _ _ _ Y~J~:._." _ . . . . . - : ~`C . . . ~ ~