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Home My WebLink About1654 .:ud murt~;.~~u~ du~~. hrrcby Eull~• wu~ranl the title to said Ic~nd, and e~~•c~y pact therc~~(, and will de(end the same .~~;.~~n~t the l:?Wtul cla~ms uf all ~xcsons whomsoe~~ec. ~ c PROVIDEU A4N'AYS, and these presents are executecl end delivered upon the tollowing conditions, to wit: ~ The moctgag~~r agn~s to pay the mcxtgagee, or ordec, the principal sum of FIFPF~N THOUSAND NINE ~ FiUNDRED AND NO/100 polla~s (S 15,900.00 as e~~ide~ced by a note ot eveo date herewith, with i~te~est from date at the ' ~i'~~ eiqht i~ OM~h~lt per centum ( g~ o) per annum on the uopaid balance ~ unt~l pHiJ. The said pri~cipal and interest shall be payable at the ottice ot ~ ~ 9rOCl~TpN, ~'IDITLEY, OJ?VIN & COM~1t~lY ~ 100 Wrst Ssy 3tre~t. Jack~onville, Florida, ur ~it such ~ther place ~s the holder uf the note ma~• designate in writing, in monthly instaliments of O~NE INNDRED ;~~'F'Iv`T1t-'IWO Ah'D 27/I00 ---------------------~olla~s (S 122.27 comn~encing on j the first d:i~• of .~inc . 19 71 . and on the ti~st da}~ of each month theceafter untiitheprincipal i and inte~est ~re (uli~• paid, except that the Einal paymer~t o[ principal and interest, it not sooner paid, shall be due ; and payable on the fi~st dey oE ~y, 2002 ' And ahaU duly, ptomptl~•, and Eully perto~m, discharge, execute, ef[ect. complete. and comply with and ebide i h~• r.ich and ever}• the stipulations, ag?eements, conditions, and co~•enants of seid promissory note and of this ' murt~;age, then th~s mortgage and the estate hereby created shall cease and be null and void. And the matgagot futther covenents as [ollows: 1. That he will pay the indebtedness, as hereinbetore provided. Privilege is reserved to pay the debt in whole. o~ in an amount equal to one o~ more monthly payments on the prinCipal that are next due on the note, on the first d.+~• of any month priat to matutit~•: f'r~~r[d~~~l, however, that written notice o[ an intention to exercise such privilege ~c Ki~•en at least thirty (30) days pcior to prepayment; and, pcovided funhe~. that in the event the debt is paid in (uli prtor to matu~it~• and at that time it is insured under the provisions o[ the Nationat Housing Act, he will pay to the mort~;agee a~ adjusted premium charge o[ one per centum (1'~) of the original principal amount the~eof. except tt~;~t ~n no e~•ent shal! the adjusted premium exceed the eggregate amount of premium charges which wonld have ; hrrn p:i~•able i[ the mortgage had continued to be insuted until maturety; such payment to be apptied by the moct- i gaKee upon its obligation to the Secretary of Elousing a~d Urban Development on account of mortgage insurance. Thc~t. ~n order more full~~ to protect the security of this mortgage, the mortgagor, together with, and in addi- ti~~n to, the munthl~• pa~ments under the terms of the note secuced hereby, on the tirst day of each month until the said nute ~s full~• paid, will pa}• to the moctgagee the [ollowing sums: An ar.:,~unt suH~r~rnt to prov~de the holdrr hereo( wlth (unds to paS• thr next mortgygr insurance premium if thia instru- mrnt andthr ~utr srcured hereby +~rc- msured, ur a monthi~ charge (~n I~eu of a mortgage insurance premium) it they pre hrld b~ the ~rcrrtary of Huusing and Urban Develupment, es tolluws: ~lti I( and 5J lang as said note of evrn date and this ~nstrument ++re ~nsured or are reinsured under the provisions of the \auun~l H.~us~nR Art, ao ~muunt suf[Icient to arcumulatr ~n the hands of the holder one (1) month prior to it£ due data• the annual mortg~ge msurance premtum, in onier to provide such haldrr with funds lo pay auchpremium to the tir.-retar~ .~t ll~us~n~; and Urbun Dr~•elopment pursuant to the National Ilous~ng Act, as amended. and applicable Regu- lat~.~ns then~unde~r; or ~ 111 I[ and ~u trn~; as +a~d notr .~t ecrn datr and th~s instrument are heid by the Secretory of Housing And Urban Develop- r..ent, a~onthl~ cha~Ke (in heu a( a mortgage insurance premium) which sh~ll be in an amou~t equal to one-twelfth ~l !?1 ..f une-hal[ (':l per rentum ot the Average outstanding balance due on the note computed without taking into a:: ~unt delinquenc~es or Exepayments, ~.ur,: equal tn thr ground rents, any. next due, plus the prem~ums that will next become due and payable on policiea ,~i f~r~• and rthar hazard insurance cuvenng the mortgaged property, plus t~xes and assessments ne:t due on the mort- ~ ReKed proprrt> (al1 as est~mated by the mortgagee) less all sums alteady paid lherefor div~ded by the number of months t.• elap~e~ brf, re one month pnw to the date when such ground rents, premiums, ta:es, and ~ssessments w~ill become de- linquent, surh sums to be held by mortgagee m trust to pap sa~d ground rents, premiums, toxes, •nd speciai assesaments; ~ ar.d I E ~ A1: pd)'~:rntti nentiuned ~n the two preceding subsectYons ot this paragraph and all payments to be made under the note ~ ~e: urc~d hrra•by shatl be added together and the aggreg~+te amount thereot shali be paid by the mortgagor each month in a { s~nRte pa~mrnt to be applied by the mortgaYee to the tullowing items i~ the ordec set torth: k (Il ~~tP:T.IUT charges nnder the contract of ~nsurance w~th the Secretary o( Housing and Urban Development, ur monthly i s : harge ~in l~eu o( mortgage ~nsurance premium), ss the case m~r be; E t111 kround rents, taxes, assessments, (ue, and other hazard insurance premiums; tl11) interest on the note secured hereDy; and ~1~'1 a~..~rtizat~on o! the principal of said nute_ Am• deficienc}• in the ar~ount of such aggregate monthly payment shall, unless 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 ~ ~a~- collect a"late charge" not to exceed two cents (2~) for each dotlar (S1) of each payment more than fifteen ~1~) da~•s ~n arrears to cocer the extra expense involved in handling delinquent payments. ~ ~ 3. That it the total of the payments made by the mortgagor under (6J of paragraph 2 preceding shall exceed ~ the amount of pa}•meats 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 made b}• the mortgagor. If, however, the monthly payments made by the mortgagot under (6J of paragraph 2 pre- cedmg shall not be suff~cient to pay ground rents, taxes and assessments and insurance premiums, as the case ~ ma~• be, when the same shall become due and payahle, then the mortgsgor shall pay to the mortgagee any amount necessar~• to make up the deficiency, on or beEore the date when payment of such ground cents, texes, assessments, y or insurance premiums shall be due. If at any time the mortgagor shalltender to the mortgagee in accordance with ~ the pro~•isions of the note secared 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 atl payments ~ made undec the prov~sions of /o/ of parap,raph 2 hereof which the mortgagee has not become obligated to payto ~ the Secretary of~ousing and Urban Development and any balance remaining in the funds accumulated under the ~ proei~ions of of said paragraph 2. IE there shall be a default under any of the provisio~s of this moctgage, re- ~ sutt~ng ~n a public sale o( the premises covered iereby, or if the mortgagee acquires the property othen~rise after default. the mortgagee shall apply, at the time o[ the commencement of such proceedings or at the time the prop- ert~~ is otherwise acquired, the balance then remaining in the funds accumulated under (6J of paragraph 2 preceding ~ as a credii against the amount of principal then remaining unpaid undet said note and shall pcoperlyadjust any payments wh~ch shall have been made under (o) oE said paragraph. ~ a. That he wiil pay all taxes, assessments, water rates, and other governmental or municipal charges, fines, ~ or ?:npos~tions. for which pro~•ision has not been made hereinbefore, and in default thereof the mortgagee may Pay the same; and :hat he wii: promptly del~vec the o(ficial receipts therefor to the mortgagee. ~ 8001f ~~~G ~ ~ ~ r ~ ~ .~,.arti ~ ~...v.. - ~f ~ ~ . _ _ _ . ~ _