The URL can be used to link to this page

Home My WebLink About0920 . ~ li Q ~i ~ ~.~id moctg~,~ur does hereb~• fully w~arrant the title to said land, and every pa~t thereof, and witl detead the same .+gainst the Idwful claims o[ aU persons whomsoever. ~ PROVIDED ALVI'AYS, and these presents are executed and delivered upon the Eollowing conditions, to wit: The mortgagor agrees to ay the mottgagee, or o~der, the principal sum of S~ THOUSAND SIG~Q' HUNDItED FIPTY 71t~TD NO~100 [h~liacs (S 16,850.00 as e~•idenced by a note of even date herewith, with interest from date at the ; t r:+te oi eight & one-`.~alf per centum ( g~ per annum on the unpaid balance until paid. The said principal and interest shall be payable at the of[ice of ~ STOC.'l~Ot7, kHA2LEY~ OAVIN & OOMPANY, 100 west Bay Street, Jacksonville, Florida, { o~ at such other place as the holder of the note may designate in writing, in monthly installments of ~~IUt~IDR~ { 71~1~R'Y-NII~ ]1ND 58/100 Dollars (S 129.58 comn~encing on i the fi~st day of l~pril , 19 71, and on the tirst day ot each month thereafter until the principal ~ and interest a~e fully paid, except that the Einal payment o[ priocipal and interest, if not sooner paid, shall be due ~ and pa~•able on the first day of Narch, 2001. And shal! duly. promptly, and fully perfo~m, discharge, execute, effect. complete, and comply with and abide ! b~• each and every the stipulations. agreements, conditions, and covenants of said pcomissory note and of this ~ mortgage, then this mortgage and the estate hereby created shall cease and be null and void. ; And the matgagor further covenants as Eollows: ~ 1. That he will pay the indebtedness, as fieceinbefore pro~~ided. Pcivilege is reserved to pay the debt in whole, or in an amount equal to one or more monthly payments on the principal that are next due on the note. on the first da~• of any month prior to maturity: ProriJ~d, however, that written notice of an intention to exercise such privilege is given at least thitty (30) days prior to prepayment; and. provided fu~ther. that in the event the debt is paid in full prior to maturity and at that time it is insured under 4he provisions of the National Housing Act, he will pay ~to the mortgagee an adjusted premium charge of one per centum (196) of the original principal emount thereof. except ~ that in no e~~ent shali the adjusted premium exceed the aggregate amount of premium charges which would have 3 been payable 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 fully to protect the security of this mortgage. the mortgagor, together with, and in addi- tion to, the manthly 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 following sums: ~~i! An amount suf[~cient to provide the holdet hereof with (unds to pay the next mortgage insurance premium ii this instru- ment and lhe note secured heteby are insured, or a monthly charge (in lieu ot a mortgage insurance premium) i[ they are hrld by the Secretary of Housing and U~ban Devetopment, as (ollows: (1) I( and so long as said note ot evco date and this instrument are ins~red or are reinsured under the provisions ot the National Housing Act, an amount sufficient to accumulate in the hands o( the holder one (1) mo~th prior to its due date the annual mottgage insurance premium, in order to provide such holder with funds to pay~suthptemium to the Secretary• of Housing and Urban Development pursuant to the National Nousing Act, as amended, and applicable Regu- lations thereunder; or (lI) 1t and so long as said note of even date and this instrument are held by the Secretary o[ HousinQ apd Utbort Dlvelop- ment, a monthly charge (in lieu ot a mortgage insurance premium) which shall be in aa amount equal to•one.tweitth ( I' 12) of one-half ('h) per centum o[ the average outstanding balance due on the note computed Mtitho~tt talcing into account delinquencies or prepayments; (l~~ A sum equal to the ground rents, ~f any, next due, plus the premiums that wiil neat become due and payable on policies of [~re and other hazard insurance covering the mortgaged property, plus taxes ar?d asaessmenta next due on the mort- ' Raged property (all as est~mated by the mortgagee) less all sums already paid therefor divided by the number of months to elapse betore one month prior to the date when such ground rents, p~emiums, ta:es, and aasessments wili become de- I~nquent, such sums to be held by mortgagee in trust to pay said ground rents, premiums, tases, aad speciat assessments; ~ ~ and ~ r~ 1 Atl payments mentioned in the two preceding subsectio~s o[ this paragraph and all payments to be made under lhe aote secured hereby shall be added together and the aggregate amount therco( sh~ll be paid by the mortgagor each month in a ' s~nqle payment to be applied by lhe mortQagee to the topowing items in the order set torth: F (1) prem~um charges under the contract of insurance with the Secretary o[ Housing and Urban Development, or monthly ~ charge (in lieu ot mortgage insurance premium), as the cose may be; a (II) ground rents, taxes, assessments, tite, and other hazard insurance pmmiums; ; (lll) interest on the note secured hereby; and ; (IV) amortization o[ the ~uincipal of said note. Any deficiency in the amount 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 deiault under this mortgage. The mortgagee ~ may collect a"late charge" not to exceed two cents (2a) fa each dotlar (S1) of each payment more than fiEteen ~ (15) days in arrears to cover the extra expense involved in handling clelinquent payments. ~ 3. That if the total of the paymeats made by the mortgagor under (6) of paragraph 2 preceding shall exceed ~ the amount of payments actually made by the mortgagee, for ground rents, taxes and assessments and insurance premiums, as the case may be, such excess shall be credited by the mortgagee on subsequent payments to be ~ made by the mortgagor. If, however, the monthty payments made by the mortgagor under (6J of paragraph 2 pre- ~ ceding shall not be sufficient to pay ground rents, taxes and assessm~~nts and insurance premiums, as the case may be, when the same shaU become due and payable, then the mottg~got shall pay to the mortgagee any amount - necessary to make up the deficiency, on oc before the date when payment of such ground rents, taxes, assessments, ~ = or insurance premiums shall be due. If at any time the mortgagor shall tender to the mortgagee in accordance with ~ ° the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the mort- gagee shall, in computing the amount of such indebtedness, credit to the account of the mortgagor all payments ~ made under the provisions of (a1 of paragraph 2 hereof which the mortgagee has not become obligated to payto # i~ the Secretary of Huusing and Urban Development and any balance remaining in the Eunds accumulated under the provisions oE (f,) of said paragraph 2. lf there shall be a default under any of the provisio~s of this mortgage, ce- r~ sulting in a public sale of the premises covered ~ereby, or if the mortgagee acquires the property otherwise aiter deEault, the moctgagee shali apply, at the time of the commencement of such proceedings or at the time the prop- erty is otherwise acquired, the balance then remaining in the tunds accumulated under (6) of paragcaph 2 preceding as a credit against the amount ot principal then remaining unpaid under said note and shall properlyadjust any ' payments which shall have been rr?~de under (aJ of said paragraph. ' 4. That he will pay all taxes, assessments, water rates, and other governmental or municipal charges, [ines, or ~mpositions, for which provisio~ has not been ~nade hereinbeEore, and in default thereof the mo~tgagee may pay ~ the same; and that he will promptly deliver the official receipts therefor to the mortgagee. ~ :K ~ ~ ~ 191 ~19 ~ d , j _ . ~ . _ . _