HomeMy WebLinkAbout1349 ..,ul ~•~~ct~•,.~,•,~~ h~•n•hc luilr ~~atr.~nt Ih•• t~tlr t~~ ~a~d lanil. and ~•~•rr~~ 4r,~rt thc•n•~~f. and w•~Il d~•li•nd Ihi• ~:,mr
,~~.~in.t thi• l,~~viul .I,~~m. ~d c+ll prcwn~ ~rhum~cx~~•et.
1~6'(1\'il1F:l) AL11A1'ti. :~nd ih~•sc• prrsc•nt. arc ex~•~•ut~Y1 und dcl~~~rrrd upon the follow~n~; condittons, tc~ wit:
l~h~• ~n~~ri~;.~~;ur .+Kters t., ~~a~ the murt~;:~~;~•t•. ur utder. thc• pnnc~p.~l ~um uf SIGlfl'ERN THaIS~ND 0[~iS
t~UNDItED 21IVD NO/100
1~.~!t:~?~ 1518,100.00 ~~~~le•nrrcl b~ a note ut e~~en da~e h~m~~~~th. ~~~th interest from dule at th~•
ciqht & on@~`.~1P pc•r ce~ntum ~ g~ per ~nnum on the unpaid bal.+nce
unt~t p.~~~l. The ..,~d pnnr~~~at .~nd interrst shall b~ pa~.,bie ut the office of
STO(.'l~`O?i, F'HATLFY, DAVZN & OOHPANY, 100 Wes*_ Bay Street, Jac}:sonville, F2orida,
.~r .+t .ue•h othe~ plare .~s thr hulder uf thr notc~ ma~ des~Knate in wnttnK, in monthly ~nst~ilments ot ~ til1NDRED
THIR'1'Y-NZNS ]1N0 19/100 Doli.~rs 139.19 commcnr~n~ on
t'sie f~rst da~• of ~y , 19 71 . and un the first da} o[ each month thereaftet untiltheprincipal
and ~ntere.t are full~• pa~d, rxcept th.~t the f~nal pa~•ment ot pnncipai and ~ntr~'rst. ~t not soonet pa~d, shall be due
,+nd pa~~able on the f~tst da~• of ]?prll~ 2001
And shall dul~•, promptl~~, and fulh• perfurm, d~scharge, execute, ef[ect, complete, and comply with and abide
h~~ ~•.~ch and e~•er~~ the st~pulattons, aKreements, condthons, and cocenants of said promissory nute and of this
m~~rt~;:~~;e, then this mort~age and the estate hrreb~~ created shall cease and be null and ~~oid.
r~nd the mortgagor turther cocenants as (ollows:
1. That he vv~ll pa~~ the ~ndebtedness, as hereinbetore pror~ded. Pnvile~e is re~er~•ed to pap the debt in whole.
~~r ~n an amount equal to one or more mnnthl~• payments on the principal that are next due on the note, on the first
d.+~ .~f .~n.• month prior tu maturit~~: !'.~~~:,l~:i, however, that uritten notice ot an intention toexercise such pri~•ile~e
~;~~•rn at l~ast thirh• (30) da~•s pr~ur to pre~:+~•ment; and, pro~•ided further, t6at in the event the debt is paid in
tull prior to maturit~• and at that time it is insured under the pro~•is~ons of the Nationa! Housing Act, he will Fat• to
tht~ murtk:~Ree an :+diusted premium charge oE one per centum (1 a) of the original principal amount thereof, except
th;~t ~n n~~ e~•ent shall the adjusted premium exceed the aggregate amount ot premium charges which would ha~~e
hr~~n p.+~able ~f thr mort~age had continued to be insured until maturity; such payment to be applied by the mort-
Ra~;~~e upon its oblig~tion to the Secretarp of Housing and Urban Development on account of mortgage insurance.
That, ~n order more full~• to pcotect the security ot this mortgage, the mortgpgor, together v?ith, and in add~-
t~.m to, the munthl~• pacments under the terms of the note secured hereb~•, on the fust day of each month until the
x.~id nutc full~• paid, w?fl pay to the mortga~;ee the fallowing sums:
An .~r..~unt suffi:«•nt t.~ pro~•tde thr h~~lder hrreo( w'tth funds to pay~ thr next mort~aKr ~nsurancr premium ~t this snstru-
^~rnt nnd thr nutr srrurrd hrrrA~ err ~n~urrd. ~~r a m~nthl) charge (tn Gru of a rr,ortKu~;e e~surance prrm~um) tf thr~ are
h. ?.i thr ~r.-rrtan ~.f Huwin~; and Urhan Dr~•el.~pment, as (ollows:
1 If ..m1 lon~; as .a~d nete u( r~•rn datr nnd this mstrument are msured or ere rr~nsurcd under the pro~•~siuns of the
X..t~ ~nei H~~usin~; Act. en amuunt .uf[ic~rnt tu accumulate tn the hands o( ihe holder onr ( 11 r.~unth pnor to ~ts due
.i..;a- the• .+nnual rt:ort~;aKr ~nsuran.r prrmwm. ~n vrder tu proa•ide such holdcr Mith [unds tu pay surhprem.~um to thr
~r~ rr!ar~ H..usmg and Urban Drvrtopment pursuan! to the Nat~o~al Hous~ng Act. as amended, and appluable Regu-
I..t~ .ns therrundc•r, or
II: tt .+ni3 l.~nk :.s .aid n~~t~• ~f e•crn date and th~s ~nstrument arr held by the Secretary of Hous~nK -and l,'rban Drcrl~~p-
r~-nt. s r^•~ntht~ . her~;e ~~n l~cu .~f a mortgage in+urance premiuml u•h~ch shall be ~n an amount eyual to one-tw•rlfth
~ 1 1' i.:f unr-haif .'r per rentum of the acrraKe outstandinQ balance due un the notr c~~mputed vcithvat tuk~ng intu
~cnt drlinyuenc~rs or prrpayments,
' A.ur.. ryual to the ~;round rrnts, if an~~. next dur, plus thr prem?ums that w~ll nezt becume due and payablr on pot?cirs
~t tu<~ ~nd .ther hazard ~nsurancr co~•enng the r.iortgaged propert~•, plus taxes and assessmrnts next due on the mort-
~ Re~.r~i ~~n~prrh~ ~all as esUmeteA b)~ the murtKagerl less ail sums alra~ad~- paid therefor di~~iJed b~~ the number a~f munths
t,• rlep~r be1~re „ne month pnor to thr ditr w•hen surh ~ruund rents, premiums, taxes, and assessments w•~(1 becume de-
linyt:rnt. ~urh sums to be hrid b~~ mort~,aKee in trust t.~ pay sa~d ground rents, premwms, taxes, and spec~al assessmenls,
~ en.f •
~ Ail {~.+cn.r;z;-~ ^:entiunrd ~n the tw•o prera•d~r.g subsechons of ih~s paragrnph and atl pe~•menls t:, be made under thr nute
; .r. urr~! Frrcbv +ha11 be added tuKrther and the a~KreKate arr.uunt therc~~f shal( be paid b)• the mortKagur each mureth in a
s ~in'~:r ;+.+cn.rnt t~~ be ippI~rd by the rcortgagrr to thr (ollc~w~ng ~tems in thr urder set (orth_
~ ~ I~ pr~•:-:iur. . harges under tht~ contrart o[ ~nsurancr w~ih the Secretan' Hous~ng and Urban Decelopment. ~~r monthl}•
~ rt~rtir (~n iiru of rt:.~rigage ~nsurance premiuml, as the case may be;
ill~ y;n~und rrnts, taxc•s, ussrssmrnis, f~rr. and .~ther hazard insurancr prrmtums;
i .III! tnterrst ua the notr se: ured hereb~•; und
a 11\'1 a~*..~rt~catwn v( the prtnr~pal o( said note.
~ an~ del~c~enc)~ ~n the ar~ount of such a~re~ate monthly pa~~ment shall, untess made gooci by the mortgagor
prior to the due date o! the next such pa~ment. constttute an event of de(ault under th~s mortgage_ The mortgagee
~ ma~~ collect a"late charKe" not to exceed tu~o cents (2~) for each dollar (S1) o( each payment more than fifteen
x ~ iSl da~~ ~n arrear~ to cocer the extra expense ~m~ol.ed in handling deLnquent payments.
~
3. That ~f the toea( of the pa~•ments made b~~ the mo~tgagor under (5l of paragraph 2 preced~ng shall exceed
~ the .?mount of pa~~ments actuallv made by the mortgagee, for ground rents, taxes and assessments and insurance
E~rem~um~, as the rase ma~• be, such excess shatl be credited by the mortgagee on subsequ~nt pa}•ments to be
~ made bt the mortRa~or. If, how•e~•er, the monthl~• payments made bq the mottgagor under of paragraph 2 pre-
" ce~d~ng shali not be suft~c~ent to pay ground rents, taxes and assessmrnts and ~nsurance premiums, as the case
~ ma~ be, w•hen the same shaU become due and pa}•ahle, then the mortg~gor shail pay to the mortgagee any amount
~ neces~arti~ to make up the def ~cienc~•, on or before the date wnen payment of such ground rents, taxes, assessments.
:y ur insurance prem~um~ shall be due. If at an~• time the mortgagor shaUtender to the mortgagee in accordance with
fi the~ pr<~.is~ons of the note sacured hereby, full payment of the entire indebtedness represented thereb~•, the mort-
~~~ee shall. in comput~ng the amount of such indebtedness, credit to the account oi the mortgagor all payments
~ made under the prov~sions of ~u ~ of paragraph 2 hereof which the mortgagee has not become obligated to pay to
the Secretar}• of Huus~ng and Ucban Development and any balance remaining ~n the funds accumulated under the
;3 pro~ is~on~ uf !j~! of sa~d pardgraph 2. If there shall be a default under any of the pco~•~sio~s of th~s mortgage, te-
~ snltmK in a pub?~c sale af the premises covered iereby, or if the mortgagee acquires the property otherv~ise after
default. thr mort~agee shafl appl}•, at the time of the comme~cement of such proceed~ngs or at the t~me the prop-
'z ertti i~ utherv~•ise acqu~red. the balance then remaining ~n the funds accumulated under /J~ i of paragraph 2 preceding
~ as a cred~t against the amount o( principal then rema~n~ng unpa~d under said note and shall properlyadjust any
payme~ts u•hich shail have been made undet /u~ of said paragraph.
~3 That he will pay alt taxes, assessments, w•ater rates, and other go~~ernmental or munic~pal charges, fines,
or iTpo~3ti~>ns, for which pro~•is~on has not been made here~nbefore, and ~n default thereof the mortgagee ma~• pay
~ the same; :,nd that he w•ilt promptl}• deli~~er the official rece~pts therefor to the mortgagee
~~oK191 1347
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