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Home My WebLink About0039 . M M ~ , ; . _ « - ~ Y _ . , _ . ~ . . _ _ .z. _ . ~ ~ . ~ t , ; said mortg~gor d~. hereby fully werrant the title to seid land, and e~~e~y part thereof, a~d will de(end the same ; against the lawtul cleims o[ all persons whumsoever. ~ ! PRUVtD~D AI.NAYS, and these presents are executed and deliveced upon the following conditions~ to wft: ~ The mortgago~ agrees to pay the moctgagee. oc order, the principal sum ot=IG}~1'8~ti THaJS~iO SRYaN ~ !~W ~W ~~~~~~~~~~~~~~~~~~~N~~~~~~~~w~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~.~~~ Dollars (S 18•700.OQ as evidenced by a note of eveo date herewith, with interest from date at the rate oi NvNf pec ceMum ( 7 p~~ annum on the unpaid balance until paid. The said principal and interest shall be ~payable et the o(fice of !1'OCl~TOl1• N~1?'t~Y, D]1VI~t i C~M11Y• 100 /hst Dqy StrMt• Jacktont?i11~, ~l+ori+da or at such other place as the holder of the note may designate in writing. in monthty installmrnts of CNt NU~D , ~1iKK1Y~l~"0[At l1liD 54/100 -------------~_~~-~~Dollars (S 1Z4.54 • comrt~encing or~ ' the first da~ of yay . 19 , and on the fi~st day of each month theceafter untiltheprincipel ~ and interest are fully paid. except that the finel paymeRt of principal end interest, if not sooner paid, shall be due and peyable on the first day of ]~pril, Z001 And shall duly. promptly, and Eully perfo~m. discherge, execute, eEfect, complete. e~ comply with and abide by each a~d every the stipulations. agreements, conditioos. and covenants of said promissory note and of this mortgage, then this mortgage and the estate hereby created shall cease and be null a~d void. And the a?o~tgagoc turther covenants os folloMS: ~ ~ ~ 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to pay the debt in whole. or ~n an amount equal to one or more monthly payments on the principal thet ere next due on the rtote. on the Eitst da~• oi any moath prior to maturity: Pro~~id~d, however, that written notice of an intention to exercise such privilege is given at least thirty (30) days prior to prepayment; and. provided fudher. that in the event the debt is paid in fult prior to maturity and at that time it is insured qnder the provisions of the National Housing Ac[.1~e will pay to the moctgagee an adjusted premium charge of one per centum (1%) of the original principal amount thereof. except that in no event shall the adjusted premium exceed the aggregate amount of premium cherges which would heve been payable if the moKgage had continued to be insured until maturity; such payment to be applied by the anott- gagee upon its obligation to the Secretary of Housing and Urbaa Development on account of mortgage insurance. 2. That, in order more fully to protect the security of this mortgage. the modgagor, together with, and in addi- tion to, the monthly 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: ~n1 An amount sufticient to provide the holder hereot with (unds to pay the ne:t mortea~e insur~ace premium i[ ihis instru- ment aed the notc secured hereby are insured, or a monthty chorge (in lieu of a mortgsQe inaurance premium) if they ~re held by the Secretsry of Housing and Urban Development, as [ollows: (1) 1f and so long os sald note ot even date and this instrumeat are iosuted or ~te reinsured uader the provisions ot the Natiooal Housing Act, an amount sut[icient to accumulate in the hands of fhe holder one (1) month prior to its due date the annual mortgage insurance premium, in order to provide such holdcr with funds to pay suchpremium to !he Secretary of Housing and Urban Development pursuent to the National Housing Act, as amended. and ,pplic~ble Reeu- lat~ons thereunder; or ilh it and so long as said note ot even date and this instrument are held by the Stcretary oI HousinQ ~nd Urban Develop- ment, a monthly charge (in lieu of a mortgage insurance premium) which shall be in an amount equal to one-twelfth (1 ' 12) o[ one-half ('-i) per centum ot thr average outstanding balance due on the note cotnputed writhout takiet~ into account delinqueocies or ptepayments; (h/ l1 sum equal_to the ground rents, if any, next due, plus the Qremiums that witl next bec~me due and payable on policies ~ o( fire and other hazard insurance covering the mortgo~ed property, plus tates and •ssessments nezt aue on the mori• ; gaged property (all as estimated by the mortgegee) less all sums already paid thete(or divided by the number of months : i to elapse betore o~e month prior to the date when such ground reats, p~emiums, tazes, and sssessments will become de- ~ I~nquent. such sums to be held by mortgagee in trust to pay said gro~ad rents, premiums. taxes, and special ossessments; i and ~ r Ail p~yments mentioned ~n the two preceding subsections o[ this paragraph and all poyments to be made under the note secwed hereby shali be added together and the aggregate amount thereo[ sholl be paid by the mortQaQor each month in a ~ ~ single payment to be applied by the a~ort~a~ee to the lol~owing itema in the order sst torth: (i) prem?um charges under the contract ot insurance with the Secretory ot Housin~ pnd Urbaa Development, or monthly S charge (in lieu ot mortgage insur~etle prem~um), os tAe cise may be; ~ (II) ground rents, taxes, assesaments, [ire, and other har,rd insurance premiums; (III) interest on the note secured hereby; and ~ (IV) amort?satwn of the principal of said note. ~ Any deficiency in the amount oE such aggregate mont6ly payment shall, unless made good by the mortgagor prior to the due date of the next such payment~ canstitute an event of deEault under this mortgage. The modgagee ~ may coflect a"late charge" not to exceed two cents (2a) for each dollar (S1) of each payment mae than fifteen (15) days in arrears to cover the extra expense involved in handling delinquent payments. 3. That if the total of the payments made by tbe mort~agor under (6) of paragtaph 2 pteceding shall exceed the amount of payments actually made by the mottgagee, Eor gcot~nd 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. [f, however, the monthly payments made by the mortgagor under (b) of paragraph 2 pre- ! ceding shall not be sufficient to pay ground rents, taxes and assessm~~nts and insurance premiums, as the case F may be. whe~ the same shall become due and peyable, then the matgagor shall pay to the mortgegee any amount ; ~ necessary to make up the deficiency, on or before the date whea payment of such gcound reats. taxes, asssssments, ; ~ or insurance premiums shall be due. -If at any time the modgagor shaU tender to the mortgagee in accocdance with ` ~ the provisions of the note sAcuced hereby, full payment of the entire indebtedness represented thereby. the moct- ~ gagee shall, in computing the amount of such indebtedness, credit to the account of the mortgagor all payments ~ made under the provisios~s of (a1 of paragraph 2 hereof ahich the mortgegee has not become obligated to peyto ; tbe Secretary oE Housing and Utban Development and eny baiance remaining in the funds accumulated under the ~ ~ provisions of (h) of said paragraph 2. If there shall be a deEault under any of the provisio~s of this moctgage, re- ~ sulting in a publ~c sale of the premises covered ~ereby, or if the mertgagee acquires the property otherwise after default, the mortgagee shall apply, at" the time of the commertcement of such Proceedings or at the time the prop- erty is otherwise acquired, the balance then remaining in the funds accumulated under (6) of paragraph 2 preceding as a ccedit against the amount of principal then remaining unpaid under said note and shall properly adj~5t eny payments which shall have been made undet (a} of said paragraph. 4. That he wili pay al! taxes, essessments, water rates, and other governmentai or municipal cherges, fines, oc impositions, for which prrn•ision has not been made hereinbefore, and in default theceof the mortgagee may pey ~ the same; and that he wiil promptly deliver the official teceipts tl:erefor to the mortgagee. j ~ ~ , ~~i9x. t , . 39 i - ~ ~ ~ , ; _ _ ~ ~ ~ ~ . . ~M~~~~ -