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Home My WebLink About0045 _ . _ _ _ _ . ~ w _ _ : - -ti _ - ~ _ , _ _ _ ~ - - , - _ ~ 3 - ~ _ _ . . . _ ` _ , • • stlid mort~agor does heceby futly war~ant tf~e title to said '.~:sd, and every pact thereot, and wil! defend the same agai~st the lawful cZaims of all persons whomsoeve~. PROVIDED AI,N'AYS, and these presents are executed and delive~ed upon the following conditions, to wit: Thc mo~tgegor ag~ees to pay the mwtgagee, ot order, the principal sum oE EZGHTERN THqJS~t~ THR~S ¦iV~Wi~V ~ NO'~Y~/ N~~~~MA~~~~~~~M~~~~M~N~~~N~~~S~1~Al~N~~N~~A~O~~N~A~~~~~~~~~~ Uotlars (S 18,300.00 ~ as eti•idenced by a note af even date herewith, with intecest from date at the rate of eiqht ~ Or~~~21~1t per centum gL) per annum on the unpaid balance until paid. The said principal and interest shall be payable at the ofEice of 9~OCRTON, 1~?TL87t. Dl?V2N & OOMW1~iY; 100 ~tt 8~ty 3tre~t, Jsaksonvi22,~, Plosfd~, . or at such other place as the holder of the note may designate in writing, i~ monthly installments oE t~l~ EIUNDRBp F'f~iTY 71I~ID 73/100 ~~~~~~~~~~~~~~~~~~~~~~~~~~Doltacs (S ~40.73 coma~encing on the first dey of ~y ~ 19 ~I . and on the (irst day of each month thereaEter nnti) tht principal and interest ace [ully paid. except that the final paymer~t of prir~cipal and interest, if not sooner paid, shall be due and peyable ort the ficst day of 1lpril, 2001. Aod shall duly, pranptly, and fully pedorm, discharge. execute, effect. cowplete. and comply with and abide by each end every the stipulations. agreements, conditions, and covenants Af said promissory aote and of this mortgage, then this mortgage and the estete hereby created shall cease and be null end void. And the mat~agor [wthet covenants as followc; , 1. That he will pay the indebtedness. es heceinbefore provided. Privilege is reserved to pay the debt in whole. oc in an amount equal to one w more monthly payments on the principal that are next due on the note, on the Eirst day of any month Prior to maturity: P~arided, however, that writtee rtotice oE an intention to exercise such ptivilege is given at least thirty (30) days prior to prepayment; and~ provided Eurther. that in the event the debt is paid in [ull prior to maturity and at that time it is inaured under the proviaions of the NatIonal Housing Act, he will pay to the mortgagee an adjusted premium charg~ of one pet centum (1%) of the originpl princi~l a~eount thereof. excepi that in no eti~ent aball the adjusted premiwm exceed the a~gt~s~ate amount of pronium charges which mocild have been payable iE the mortgage had continued to be insured until maturity; such payment to be applied by the mort- gagee upon its obligation to the Sec~etary of Housing and Urban Developme~t on account of mortgage insurence. 2- That, in ocder more fully to protect the security of this modgage. the mortgagor, together with. and in addi- tion to, the monthly paymertts under the terms af the aote secured hereby, on the first day of each month until the said note is fully paid, will pay to the mortgagee the [ollawing sums; ~u? An amount au(ticie~t to provide the holder hereof with tunda to pay the next mon~aee insurance premium iE this instru- meet and tAe ~ote secured hereby are insured, or a monthly charge (in lieu o[ a mortQage iosur~nce premium) if they are held by ihe Secreiary ot Housin~ and Urtwn Development, os tollows: (i) 1t and so lone as said note of even date and this tf13iN1Ol111 are inswed or are rcinsured undtr the provisions of the National Housing Act, an amou~t su(f~cient to accumulate in the haads o[ the hoider one (i) month prior to its dut d~te the annua! mo~tgage insurance premium, in order to ptovide such holder with tunds to pay such ptemium to the Secretary of Housing and Urban Developmrnt pursuont to the National Housin~ Act, as ameaded, and applicable ReQu- lations theteu~der; or (ll) It and so long as s~id note uf even d~te and this tnstrument are hcld br the Secretaryr ot Housia~ and Urban Develop- ment, a monthly charge (in lieu of a mortgoge insurance premium) which shall be in an smount equ~l to one-twel[th (i'12) ot one-halt (~4) per centum o( the overage outstending balaoce due on tbe note computedwrithout takin~ into account delinquencies or prepayme~?ts; ~ !h/ A sum equal to the ground rents, if any, next due, plus the preauums that will nextbecome dne and poyabfe on poticies of fire and other hazard insurance covcrit~ the mortea~ed property, plus ta:es and assessmeota ne:t due on the mort- gaged property (all as estimated by tAe mortgagee) less all sums already paid thereto~ divided by the number of months to elapse be(ore one month prior to the date wrhen :uch ~pround rents, premiums, taxes, ~nd ~ssessmeats wiill become de- tinquent, such sums to be held by mortQa~ee in trust to poy s~id Qround renta, premiums, t~s~s, ~nd sp~cial assessments; ~nd Ail payments ~r.entiooed ~n the two preceding subsect~ons o[ this par~~raph ond all paymenta to be made under the ~ote secured herebp shalt be addcd together aed !he ~~gregote amount 1Aereof shaU be paid by the morteagor each month in a singte payment to be appiied Dr the mortga~ee to the tollowinQ items in the order set [ortA: (1) premium charees under the contract ot insurance ~rlth the 3ecret~ry oi Housine and Urban peveiopmmt, or monthly charge (in lie~ of ~ort~aQe insurance pre~uai), as tbe case a~y be; (lt) ground rents, ta:es, asseasments, [ire, aod other hasard insurance prcm~ums; (Ill) interest o~ the aote securM lreroby; and (1V) amortisstion ot tbe principal ot said note. Any deticiency in the ar.wunt oi such aggregate monthly payment shall. untess made good by the mortgagor prior to the due date of the next such payment, constitute an event of default under this mortgage. The mortgagee may coilect a"tate charge" eot to exceed two cents (2~) for each dollar (t~) of each payment more than fifteen (15) days in arrears to cover the•extra expense involved in handl'ws d~linquent payments. • 3. That if the totai of the payments made by the mortgegor under (b) of paragraph 2 preceding shall exceed the amount of payments actually made by the matga~, Eor ~round ~ta, taxes a~ asseasments and insurance premiums, as the case may be, such excess shall be credited by the mortgagee on subsequent peyments to be made by the mortgagor. lf, however, the monthly paymenis made by the matgagor under (6) of paragraph 2 pre- ceding shali not be sufficient to pay ground rents, taxes and assessm~~nts and insurance premiums. as the case may be, when the ssme shall become due and p~yable, tben the mortgsgot siwll pay to the mortgegee any amount necessary to make up the deficiency. on or before the date whe~ payment of such ground reats, taxes, assessments, or insurance premiums shall be due. If at any time the mortgagor shalltendec to the mortgagee in accordance with the provisions of the note secqred hereby, Eul! payment ot the entire iodebtedness repcesented therrby, the mort- gagee st~all, in computing the amount oE such indebtedness, credit to the account of the mortgagor all pay~ents made under the provisions oE (a) of paragraph 2 herevf which the mortgagee haa noR becane obligated to payto tbe Secretary of Nousint artd Utban Development and any balance remeining in the funds accumulated under the provisions of (L) of said paragr~ph 2. If there shall be a default under any of the provisioas ot this mortg,ege, re- sulti~g in a pubtic sale of the premises covered iereby, or iE the maigagee acquires tht property othenvise after w default, the mortgagee sbnll appiy, at tbe ti~oe of t6e coiumeaceiqeat of such pcoceedings or at the time the prop- erty is otherwise acquired, the belance then remainin~ in the funds accumulated under (b) of paragraPh 2 preceding as a credit against the amount of principol then remaining unpaid under seid note and shall properlyadjuat any payments which shall have been made under (u) of said paragtaph. - 4. That he will pay sll ta:es. assessments, water rates, and other goverrtmentaJ or municipal charges, fines. or impositions, for which provision has not been made hereinbefae, end in deEault thereof the mongagee may pay the same; and that he will promptly deliver the o[Eicial teceipts the~for to the mortgagee. ~ ~t~ ~ ~ _ . 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