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Home My WebLink About2000 c . ~ 1 . ~ ..~id +:ioct~;,~k;ur do~~ti hete•b~• full~• w•arrant Ihe t~tli• tu s.iid I.~nd, and r~~er~' patt thereof, anci wtU defrnd the s:~me .~K.i~n~t the l.+wful claims of all ~xrsuns w•homsoevet. PROVIDED AL11'AYS, and these p~esent; are executed and detivered upon the followiog conditions, to wit: ~ Thc mortgagor :+grees to pay the mortgagee, ur o~der, the principal sum ot SIXTEEN THO[ISAND SIX ~ liUNDRED FIFTY AND NO/100 ' ~g 16,650.00 as e~•idenred by a note o[ even date herewith, with interest from date et the i c:+te of per ce~tum ( 7 0) per annum oo the unpaid balance ~ unt~l patd. The said princip:~l and interest shall be payable at the office of ? sTOC1~TON, NH~?TrB~r, n1Wfr1 ~ CONP11Nfr, 100 a•st Bay strest. Jackso~nvillo. Fi~orida ur at such othe~ place as the holder o[ the note may designate in writing, in monthly installments of ONE Hl3NDRF•D { TEN AND 89/100 ---------------------~---~Dollars (S 110.89 commencing on ; ~ the first dap of Mdy , 19 71. and on the fi~st day oi each month thereafter untiltheprincipal and interest are ful?p paid, except that the finel payment of principal end inte~est, if not soonet paid, shall be due and payable on the ficst daY of Aj~ril, 2001 And shall duly, promptly, a~d [ultp perform, d~schacge, execute, effect, complete, and comply with and abide by each and everp the stipulations, agreements, conditions, and covenants of said promissory note end of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void. And the matgagor tuclher covenants as follows: 1. That he will pay the indebtedness, as he~einbefore provided. Privitege 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 ? da~• of any moath prior to maturity: Prnridrd, however, that written notice of an intention to exercise such privilege y ~s gi~~en at least thirty (30) days prior to prepayment; and, provided further~ that in the event the debt is paid in ; [ull prior to matucity and at that time it is insured u~der the provisions of the National Housing Act, he wi!1 pay to ` the mortgagee an adjusted premium charge of one per centum (1%) of the original p~incipal amount thereof, except tfi~+t in no event shall the adjusted premium exceed the aggregate amount of premium charges which would have been p:~y~able if the mortgage had continued to be insured until maturity; such payment to be applied by the mort- gagee upun its obligation to the Secretary of Housing and Urban Development on account of mortgage insurance. 2. That, in order more fully to protect the security of this mortgage, the mortgagor, together with, and in addi- twn to. the monthly payments under the terms of the note secured hereby, on the Eirst day of each month until the said note is full~• paid, v?i11 pay to the mortgagee the following sums: r- An aer.uunt suft~cient to pro~•~de the holder hereof ~+tth (unds to pay the next mortgage tnsurance prem~um if th~s instru- ment and the note secured hereby are insured, or a munthly charge (in liru ot a mortgage insurance prrmwm) i( tlfey are held by thc Secretary of Housing and Urban Development, as follows: ill 1( and so loog as sa~d note o( e~•en date and this instrument are ~nsured or are re~nsured under the provisions of the , \aUOn~l fioasing Act, an amount sutficie~t to accumulate in the hends oi the holder one (1) month pnor to its due dat~~ the annuai mortgage ~nsurance premium, in urder to provide such holder with [unds to pay such premium to the ~ Sr~retary o( Huus~ng and Urban Development pursuant to the National HousinQ Act, as amended, and sppl~cable Regu- ~ 1at~uns ihereunder, or tll) I( and so tong as sald note of e~•en date and thts instrument are held by the Secretary ot Housing and Urbaa Develop- t r..ent, a monthly charge (tn (~eu o( a mortgage ms~rance premium) vvhuh shall be in an amount equal to one-twelfth "t 11 12) ot one-half per centum of the average outstanding balance due on the note cumputed without tak?ng into ~ ar.ount del~nquenc~es or prepayments, ~ r~~ A su~. egual to the ground rents, ~t any, next due, plus the premiums that w~li next become due and payable on pohcies ~ of hre and other hazard tnsurance covering the mortgaged property, plus tezes and assessments ne:t due on the mort- r ~aged property (all as esumatrd by the mortgagee) less all sdms already paid therefor divided by the number of months ~ ' to rlapse before one month pnor to the date when such ground rents, prem~ums, taYes, and ossessments will become de- . ~ Imquent, such suns to 6e held by mortgagee ?n trust to pay said ground rents, premiums, taus, andspecialassessments; f ~ and + Ai: payrnents ment~oaed ~n the two preced~ng subsrcuons o[ th~s paragraph and all payments to be made under the note ~ secured herrbp shalt he added together and the aggregate amount thereot shali be paid by the mortgagor each month ?n a sin~;le payment to be applied by the mortgagee to the [oliowing items in the order set torth: ~ (I) prem~um charges under the conuact o( insurance wtth the Secretary of Housing and Urban De~•elopment, or monthty ~ charge (~n l~eu of mortgage ~nsurance prem~um), as the case may be; tll) ~,round rents, ta:es, assessments, Gre, and other hazard ~nsurance premiums; ~ fllll in+.erest un the note secured hereby; and ~ (1\'1 amort~zatwn o( the principal o( sa~d note. An~• deEiciency ~n the ar.~ount of such aggregate monthly payment shall, unless made good by the mortgagor pnor to the due date of the next such payment, constitute an event oE deEault under this mor!gage. The mortgagee ~ Tac collect a"fate charge" not to exceed two cents (2a) for each dollar (S1) of each payment more than fifteen ~ (15) da~•s in arrears to cover the extra expense invotved in handting delinquent payments. ~ 3. That if the total of the payments made by the mortgagor under (b) of paragraph 2 preceding shali exceed ~ the amount o[ Qayments actually made by the mortgagee, tor grouad 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 b• the mort a or. lE, however, the monthl a ments made b the mort a under (6) of ara ra h 2 re- y g g Y P Y Y 8 B' P g P P ~ ceding shall not be suEficie~t to pay ground rents, taxes and assessm~~nts and insurance premiums, as the case _ may be, when 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 before the date when payment of such ground rents, taxes, assessments, _ or insurance premiums shail be due. If at any time the mortgagor shall tender to the mortgagee in accordance with ,~t' the pro~~isions of the note secured hereby, Eull payment o[ 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 /Q) of paragraph 2 hereof which the mortgagee has not become obligated to payto the Secretary of Housing and Urban Developme~t and any balance remaining in the funds accumulated undet the - pro~•isions of !b~ of said paragraph 2_ IE there shatl be a default under any of the provisiois of this mortgage, re- sult~ng ~r. a public sale of the pcemises covered ~ereby, or if the mo~tgagee acquices the property otherwise after ~ti~ default, the mortgagee shall apply, at the time of the commencement of such proceedings or at the time the prop- ert~~ ~s othervvise acquired. the batance then remaining in the funds accumulated under (61 of paragraph 2 preceding t`~: as a credit against the amount of principal then remaining unpaid under said note and shall properlyadjust any payments wh~ch shall have been made under (a) of said paragraph. 4. That he will pay all taxes, assessments, water rates, and other governmental or munic~pal charges, fines, or impositions, for which provision has not been made hereinbefore, and ~n default theceof the mortgagee map pay ~ the same; end that he will promptly deliver the official receipts therefor to the mortgagee. a> n Q ~ ~~191 1995 ~ _ ~ ~ ~ ~ ~