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Home My WebLink About1355 . . . ..~?d r.,ort~;;~~;ur du~•s hrreb~~ full~~ w•~urant the titlr tu said l:~nd, and e~~er~• part thc~eol, and will dcirnd the sume .~Kain~l the luw•fu! cla~ms ot all persons whomsce~~er. PROVIDED AL11'AYS, and these presents are executed and delive~ed upon the following conditio~s, to wit: ~ Thr murtgagor agrees to pey the mortg:,gee, or o~der, the pri~cipal sum of SEyENPE$N THOUSAI~ID A1~ID NO/100 ~ Uollars (S ~~•0~•00 as e~•~denced by a note of e~•e~ date herewith, with interest trom date at the rate ut per centum ( 7 per annum on the unpaid balance ~ unt~l paid. 1'he said p~~ncipal and ~nterest shall bc payable at the offire of ~ 9TOC1Q~l, NHATI87t, D71VIN & Cd~fpllN~t. 100 aest Ba+y Street. Jscksanville, Florida or at such other place as the holder ot the note may designate in writing, in monthls installments of OtdE MJNDI2ED TIiIRTEEN AND 22/100 Dollars (S Il3 .22 commenc ing on tt~e [irst day~ of . 19 71. and on the first day of each month thereafter untiltheprincipal ` and interest are fuUy paid, except that the final payment ot principal an~ interest, it not sooner paid, shall be due ~ and payable on the first day ot April, 2001. And shall duly, promptly, and full} perform, discharge, execute, etfect, complete, and comply with and abide bt• each and every the st~pulations, agreements, conditions, and covenants of said promissory note and of this mortge+ge, then this m~rtgage aRd the estate hereb~~ created shall cease and be null and void. And the mortgagor furiher covenants as follows: 1- 1'hat he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to pay the debt in vehole, or in an amount equal to one or more manthlp payment~ on the principal that a~e next due on the note, on the first j da~• o! any month prior to maturit~•: 1'.;~~ i~1~~~1, however, that written notice of an intention to exercise such privilege ' ~s gi~•en at least thirty (30) da~•s prio~ to prepaqment; and, provided further, that in the event the debt is paid in (ull p~ios to matu~ity and at that t~me it is insured unde~ the provisions of the National Housing Act, he will pay to the murtgagee an adjusted premium charge of one per centum (1 0) of the otiginal principal amount thereof, except that ~n no e~•ent shall the adjusted premium exceed the aggregate amount of premium charges which would have been pa~•able if the mortgage had continued to be insured until maturit~•; such payment to be applied by the mort- _ 6aKee upon its obligation to the Secretary of Housing and Urban Development on account of mortgage insurance. 2. That, in order more fuUY to protect the security oi this mortgage, the mortgagor, together with, ar.d in addi- t~un to, the monthl~• payments under the terms of the note secured hereby, on the first day of each month until the sa~d note is fullc paid, will pat~ to the mortgagee the following sums: : An er..~~unt sutf~cient to pro~~~de the holdrr hereuf with (unds to pay the next mortgage tnsurance prem~um if this instru- mrnt andthe note se~urrd hereby arr ~nsured, or a monthiy charge (in liru of a mortgage tnsurance prrmwm) if they are he•ld b~ thr Secretart• of Huus~ng and Urban Drvelopment, as foilows: ;1 • 1( end so IonK as said note o( ea•rn date and this instrument are insured or are reinsured under the prov~sions of the \auona! H.ws~ng Act, an amuunt suf[~c~eM to accumulate in the hands oi the holder one (1) month pr?or to its due d~:~~ the annuai mor[baKe insurance premium, in o~der to provide such holdet with tunds ta pay such prem~um to the C~cretar~- of Hous~n~; and Urban De~•elopment pursuant to the National Hous~ng Act, as amended, and applicable Regu- lat~.~n~ thrreundi~r, or ~ 11 : If and ~o long as said notr uf eern datr and this ~nstrument are held by the Secretar} o[ Housing and Urban De~elep- r.:rnt. a monihly charge (in lteu o( a mortgage insurance premium~ w~h~ch shall be ~n a~ amount eGual to one-twelfth ~I I?~ o( one-half per centum of the arerage outst~nding balance due on the note computed vcithout taking into arcuunt delinqueacies or prepayments; + A ti!liL t'(~VdI to the ~round rrnts, aay, nezt due, plus the prem~ums that aci11 next become due and papable on polu~es .~f I~rr and othrr hazard ~nsurence coverind the mortgaged property, plus taxes and yssesscients next due on the mcrt- ~;aKed , ruprrh ;all as rst~matrd by the mortgagee) tess all sums alrrady patd therefor divided by the number ot months to elap.r hetorr une month prirr to the date achen such ground rents, premiums, ta:es, and assessments veil[ become de- 1~nyurr.t. such :ur..s to br held b~ mortgagre in trust to pa}• said ground rents, premwms, ta:es. and spectal assessments, end ` AIi pd~'TrI1L5 ^~,entio~rd m the tw-o preced~ng subsectlons th~s paragraph and all paymenis to be made under the note s srcured herrby shall be addrd together and the aggregate amount thereaf shall be pa~d bg the mortgagor each month in a .in~;le paym.ent to be applied by the mor'gagee to the followinR rtems in the order set [orth: i ~ (I) prem?um charges ~nder the contract o( insurance with the Secretary of Housing and Urban Development, or monthiy _ charge (in lieu of mortgage ~nsurar.ce premium), as the case may be; : ~t11 ground rents, taxes, assessmrnts, t~re, and other hazard ~ns~rance premaums; ~ t ttll) intrrest on the note secured herebp; and r (1\') am~rt~zat~on of the princ~pal ot sa?d note. ~ An~• deiicienc~• in the ar~ount of such aggregate monthly payment shall, unless made good by the mortgagor 1 pnor to the due date of the next such payment, constitute an event ot default under this mortgage. The mortgagee ' m r.:a~• collect a"late charge" not tu exceed two cents (2~) for each dollar (S1) of each payment more than fifteen tli) da~~s m arrears to co~•er the extra expense involved in handling delinquent payments. ~ 3. That if the total of the payments made by the mortgagor under (6) of patagraph 2 preceding shall exceed ~ the amou~t of payments actually made by the mortgagee, for ground rents, taxes and assessments and insurance ~ prem~um~. as the case ma}• be, such excess shall be credited by the mortgagee on subsequent payments to be ~ ` rnade by the mortgagor. If, hou-e~•er, the monthly payments made by the mortgagor under (hl of paragraph 2 pre- t ~ ceding shall not be sufficient to pay ground rents, taxes and assessm~~nts and insurance premiums, as the case ; } ma}~ be, when the same shall become due and payable, then the mortgsgor shall pay to the mortgagee any amount ~ necessary to make up the deficiency~, on or before the date when payment of such ground rents, taxes, assessments, _ : or insurance premiums shall be due. If at any~ time the mortgagor shalltender to the mortgagee in accord:+nce with ~ the pro~•isions of the note secured hereby~. !uU 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 ; :i made under the provisions of (u1 ot paragraph 2 hereof which the mortgagee has not become obligated to pay to ~ s ebe Secretary of Housing and Urban Development and any balance remaining in the funds accumulated under the ~ ~ pro:~~sions of of said paragraph 2. [E there shall be a default under any of the pro~•isio~s of this mortgage, re- ; ; sult~n~ in a public sale of the premises covered iereby, or if the mortgagee acquires the property otherwise after j " default, the mortgagee shall apply, at ihe time of the commertcement of such proceedings or at the time the prop- ~ ` ertg is otherveise acquired, the balance then remaining in the funds accumulated under of paragraph 2 preceding ' ~ as a credit against the amount of principal then remaining unpaid under said note and shall properlyadjust any ± payments u•hich shall have been made under (al of said paragraph. ~ 4. That he will pay all taxes, assessments, water rates, and other govemmental or municipal charges, fines, ~ or ~mposit~ons, for wh~ch pro~~is~on has not been made hereinbefore, and in default thereot the mortgagee may pay ' the same; and that he will promptly deliver the official receipts therefor to the mortgagee. ~ ~ ~ u ~ R 191 ~353 ~ BOOK , : ~ , . . _ . . : _ - ~