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Home My WebLink About0727 , :,t!,;.=~.: .i,•e~: hrrc~ht t.:lt~ uerr,~nt :ha~ tit:~~ t.~ a~.~d .and. a::d r~rr~ p~rt thcreo(, and ~~•iIl detrnd t'tie sanzc .,~;.,~r.;t t':e :.,•.~fu: c:.~i~:. oi nii ~x•rs.~n~ u':li~C;~lh'\PI. PF~'(1\'IDEI~ :~L\1A1'S, and these p~csrnts are eaecutc•d aad del«~ercd upon the foilowtnK ronditwns, to wit: 1'^~• ~^.~riRago~ .~~,rees to pa~ the mortga~;rc~. or orde~, the pr~ncipa! sun of ,~'>EVENPEEN THOUSW7D AI3D P:O/100 I~o:i~rs ,S 17,000.00 aa e~~den.:ed b~• a note of e~•en dote herew•?th, w•ith ~nterrst frum date at the r..te ot eight S or.e~:~l`. per centum ~ -a) per annum on the unpaid balance .:~t:; ~:d. 1'he ;a?d pnnciPal and interest shall be pa~~able at the office ~f ~LrC?~pl~, h~AA^_'2RY, DAVIN & OOriPANY 100 West Ray 3tr~et. Jacks,~nville, .locida, .~r a: ;uch other p:ace :,s the holder ~f the note may des~gnate in wr~ting, io monthl~~ ~nstallments of ONE IiUNDRED Tiil~' A2:D 73/1t~0 -------------------------0ollacs (S 130.73 comn~encing on :he first da~ of April , 19 71 , and un the first da~• of each month thereafter untiltheprincipal an~ interest are full~~ pa~d, except that the final pa~~ment of principal and interest, if not soonet paid, shall be due and pa~~abie on the first da~• uf Dlarch, 2001 And shali d~h . promptl~ , and fuU~• pertocm, discharge. execute, effect, complete, and comply w~th and abide e~ch and e~•ery the stipulations. agteements, conditions, and corenants of said ptomissor~• note and of this ~-or.~age. then th~s mortgage a:~d the estate hereb~• cceated shall cease and be null and ~•oid. And the mortgagor turther co~•enants as folluws: 1- Tnat he w•~ll pa~• the indebtedness.as hereinbefore pro~~ided. Pri~~ilege is reser~ed to pa}~ the debt in whole, or ~n an amount equat to one ar more montht~ pdyments un the principal that are next due on the note, on the first u1 am month prior to maturih~: i'•:.:: i~ .i. howe~•er, that written notice of an intention to exercise such pri~~ilege :s ~~~en at least thirty (301 da}s pr~or to prepa~~ment; and, pro~~ided furthec, that in the e~~ent the debt is paid in i;:l~ prior to r..aturit~• and at that time it is insured under the ptovisions of the National Housing Act, he will pa~• to *.he ^~~~rtgagee an adjusted premium charge oi one per centum (l~e) of the original principel emount thereof, except ~r. no eti~ent shail the adiusted premium exceed t'he aggregate amount of premium charges which veould tia~•e bren pdedb!e if the r~ortgage had continued to be insured until matu~ity; such payment to be applied b~~ the mort- gagee upon its ob:igat~on to the Secretary of Nousing and Urban De~•elopment on account of mortgage insurance. ? T`:ai. :n ~rder more fully to protect the secunty of this mortgage, the mortgagor, togethe~ with, and in addi- ~~.m to. t'~e monthlc payments under the terms of the note secured hereby. on the first day of each month until the sa<~ IIJ2'r d5 2U11~ ~id. v?iil pa}• to tne moctgagee the follov?•ing sums: A1 u__...: s::(ficirnt te pru:ide tAr ho:3er hereu( wrth f~nds to pa~~ the next mortgage tnsurance premium it thts insiru- r:er~t :nd:~e note srcured herrby .rr insurru'. ~r e r...n[h?~~ charge (in Itru of a murtgage insurance preer:tur.:) i! they are .,_-:C tn ;hc ~ecretar~ o( Hous?ng and Crban Dr~•rlcpa.ent. es ~OIIUK'!: •I S! an~ ~o i~ng as said note oi rcrn d:te end this instrumrnt .re ~nsured or yre rci~sured under the proeisiuns ot the ~.u~ na: N~.asir.~ Ac:. .n . ~uunt sufficirnt to accua:ulate m the handc o( the holder one (1) month pnor to ita due ,i.-e the .nnu~l mortg~ge insurance p:er..ium. sn order to pro?~ide such holdet vctth funds to pay suchpremium to the Ser.etar~ cf Hous:ng and Urb+n Developsaent pursuunt to the tiational Housing Act, as amended, and applicable Regu- . ...~as urrr~nder. c,r 1( a..d s_ ;.-nq as seid n_tr rcrn datr ind this ?nstrur..ent rre held b~~ the Secretary oI Nousing and Urban Develop- a.. _n.!::~ .hdT~e ~tr. iieu of a.^.:ort~~ge msurance prer..tcm) which shalt be in an amount equal to one-twel(th .Yl~ _ _ t cr.r-i:a.f pet _catuR of the a~~erage outst.nding b~lance due on the note computed wuhout taking into a~. : ~r:' de::r,queac ~es ~r ptrpa}Tent~, • A..r. rq.:~: *c the grc,u~d rents, it an~, next dur, plus the premiua,s that w~lt next becorr.e due and paywble on pot~c~rs t i:rr ecrd :?}:ri i:az.rd ir.suran~r covrring the r..ortgagrd propert~, plus ta:es and assessments next due en the mort- Fo~rc ;ropari~ ai] es rsti:r..ted b~ the cr,~rtgagee) less aA sums already paid there(or di~•ided by ihe number ot months r;.j•~r ~r:r;rr .ar c.;n,h pr~or tu :he Qate when such ground rents, premiums, ta:es, and assessments will become de- .:r.y.rr.! s~ct s_c.s [o br heid by r..urtg~gee in trust t~ pay sa~d ground rents, prem~ums, taxes, andspecialassessments, anA A:': ;.~.r.rr.:~ -c.r.•.'::,r.rd ir. !'r.e :KO precrQ~ng suGsectwns o[ this paragr:ph and all payments tu be r.~ade undrr thr note t ~r~.,-rc ;,rrrty ~ya:l Le eddrd tuarther and thr :ggreg~te ar.,ount thereof shall br pa~d bp the cr.ort~+Qor ea~h a:onth 1n a - :^f:r ~e~~-er.t r. be app3~ed b~ the r. crtga~re to thr (ollowing uer.~s in thr order set forth: s `1 ~rr^.:;:-: c~::,ges under the contract of insut~ncr with the Secretar~• of HousinQ and Urban Development, ur munthly f .^.ergr 1:n i?ru of ~.~rtg+gr insurancr prcKr.ium?, as the case may bt; x I1• tr-,~rd rents. !axrs. ~ssessr.:r^ts, (ire. and other h~zard insurante prrmtutr.s; ; III~ in'rrrs! c-~ thr u~te secured hrrebp, .nd ~ •11' er :rtiz.t!•~n ~:f thr pruicip~I of sa:d nute p An} ~efitienc~ in the er-iount of such a~regate ronthly payment shall, unless made good by the mortgagot ~ n~,r !c the due d•aie c,f the nrxt such a rent, constitute sn event ot ~'efault under this mort a e. The mort ~ ee Y P l.: g"K K"S ~ •-.o~ c~~:;rct d";ate Cha~ge" not to eYCeed two cents (2C) for each dollar (S1) of each payment moce than fitteen Y : i~ ~ aa•.s sr arrears tu cotier the extra expense im~oh•ed ~n handling deli~quent payments. 4 3. Tr,et if the total uf the p6yments made by the mortgagor under IbJ of patagraph 2 preceding shall exceed x ~~:e ar..~,~n? of pa~r.,e~ts ectually m~de by the mortgagee, tor ground rents, taxes and assessments and insurartce ~ ;:rrrr.~,;:r:~ as tnr case may be, such excess shal! be cced~ted by thr muctgagee on subsequent ps~yments to be ~ ~.ade b: t~,r r..or?~aqor. lf, huu•e~•er, the rnonthlp payments made b1• the mortgagor under /61 of paragraph 2 pre- f cecinK s:~al: :~ut t.e suff~c~rnt to pa}• gruund rents, taxes and assessmr.nts and ~nsurance premiums, as the case ~a~, i,c-. ~:^.e.^: tne Sa^:e shal! become due and pa~~eble, thrn the murtg:.got shall pay to the morigagee any amount 1 ~ecessary !u ;-akr uy the defic?enc},un or betvre thr datr whrn paymrnt of such ground rents, texes,bssrssments, ~ :^su:aac~- pre-::;r.:~ st:a:', be due. If at any~ t~me the mc,rtgagor sh~lltender to 1he mortgagee in eccordance with - ;a~ pr,-.:~:~~n~ f,f +:~e n~;te secured herrb;, f~:l peyment ot the ent~re ~ndebtedness represented thereby, the mort- = K~~•-r ~~:ai:. i~ cvr.:putsng the e^.UUllt U~ SUC}: ~ndebtednrss, credtt to the account of the mortgegor dll payments ~ ~.a^r ;;nder t}jf y:rn~sjv~s vf ~ui vf par~graph 2 here~~f wh~ch the mortgegee hes not become obligated to µ?yto t;e ~~_uetary ~.,I Hvusing ~nd Urban Urvriupmenl snd eny bafonce reme~ning ~n the funds accumulated undrr the , .:•-.~~,a~ uf uf sa~d ;~aragreph Z. If thrre sha11 be a defeult under any u( the pruv~sio~s ot this murtg~ge, ~r- in o Yub:~c se:r ~~f 'hr pcr~:.is~•s coveted ~rrrby, or if the murtgegee acqwres the property otherwise atter =S •iri;._:' sc:~- r.;-,r+yegrr at~aIl appl}'. a( thr t~me vf thr commenc:emrnt o[ such proc:eed~ngs or at the tinze the prop- rrt. i5 ~.+.~:rrx»r ecqu~rcd.!hr balan~r tt?en ren.a~n~og inthe (unds acrumuleted under (?~1of par:sgraph 2 precrding ~ ti cc•~:? :,~a~~r,t the ar.:uunt ~~f pr~ncipal then rrme~n?ng unpa~d undrr sa~d note und shdll proprrly:~d~ust any ~ ;,~~,°:r~t~ ahi! h Shall he~e t,een madr undHr (u/ uf sdid paragraph. ~ 4 T"h.,~ ttF w~?! pa~• e:l !axrs :,~s~~ssmrn?s, u•eter rates, and other guvernmrnt:,l ur muntc ~pai chvrgrs, f~nes, ~r :^.;,~,~i~:-r..5 '~~r whirh pr~,•.~Si~.n }::,5 n~~t Gern a~ade hrminbrturr, dnd ~n de(vult th~rrut thr murig~grr may p:+y •::~t t:e +.••;'s ~.r~.^Nt;~; drlivir thr df~cial receipts thrrefur tv Ihr morig:,gee. m~ ~ ~ 191 7?~ ~ ~ = ~ ~ ~ ~`~s .,~c. _m?;^". _.i . ~ ~ , . . ~ . . . _ ~ ~