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Home My WebLink About2050 autd mott~a~ot dues he ~eb}~ tully wa~rant th~ title to seid land, and e~~ery pa~t theceu(, end w~ll de(end the same .~~,~~mt the lavr(ul clu~ms_o( all pe~sons whom~oevet. PitOVID~D ALWAYS. ood these presents are executed and del~vered upon the followi~~ conditions. to wit: Th~ mo~tgugw ++~rees to {wy the moctgagee. or o~der, the p~incipel sum ot 8Ix'Pi~i ~ SIX ~IY~MA~/ ~ ~/~YV~N~~~~N~~~M~N~~~~~~~~~N~~~~~M~~~~~~~~~~~~~~~~~~~~~~1~~~ lk~llacs (S 16,650.00 es evidenced by • note of even date herewith, with inte~est [rom dete et the rute uf Seven (71~ pec centum ( ~ per annum on the unpaid balance ~ unt~l pa~d. The said principul and inte~est sholi be payable at the of[ice oI ~ SrOC1CrOti. NW?TLEY. D~1?VIN i DOlQ~1?NY. 100 Neat B~y 8treet, Jackaonville, Florida .x at such other place as the holder of the note may designate ie w~iting, in monthly installments of ON8 Nt1NOR~ TSN 71AID 89/100----------------~Dollars (s 110.89 comniencing on the f irst da~ of June . 1971 ~ and on the tirst da~~ of each month the~eaEte~ untii the principal und ioterest ece (ully paid. except that the final payment of principa! and interest. if not soo~e~ paid, shell be due end peyable on the first dey o[ N~Ya ZO~l. And shall duly, promptly, and fully pectocm, dischar~e, execute, effect. complete. and comply wjth end abide by each and every the stipulations. agreements, conditions, and covenants oE said ptomissory note end ot thia mortgage, then this mo~tgege and the estate he~eby created shall cease ond be null and void. A~d the mo~tgagor furthe~ covenants as follows: i. That he will pay the indebtedness. as heceinbefore ptovided. Privilege is resetved to pey the debt in whote. or ~n an amount equal to one or more moathly payments on the priecipal that are next due on the note. on the first d;~~• uf any month prior to maturlty: P.o~~ta~d; howeve~,` tti~t anittln notice of an intlAtion to exetcisrsnCb'tlvilege is giveo at least thirty (30) days prioc to prepayment; and, ptovided fuKher, that in the event the debt is paid in ; c_n _ ~~e~ :Q :..~~..o.l .....1.. t6v nrnvicinnc nf thP Nntita+o) Nnu~ine Aef. he urill oav tn :u:i ~iii•~ .v ,..c.w...~ a...v r^-------- -------v _ r - • : the mortgugee an adjusted premium charge of one per ce~tum (196) of the original principel emouet thereof. except that ~n no e~~ent shall the adjusted p~emium exceed the eggregate amount of premium charges which would have been ~~•abie if the mottgege had continued to be insuced until maturity; such payment to be epplied by the mort- gagee upon its odligation to the Secretary of Housing and Urba~ Development on account of mo~tgege insurance. 2. That, in order more fully to ptotect the security of this moctgage, the moKgagor, together with. end in eddi- tio~ to, the monthly payments under the terms ot the note secured hereby. on the Eirst day of each month until the sa,d nute is full~• paid, will pay to the mortgagee the fe#owing sums: <<r+ An +m~unt sutfictent to provlde the holder hereo( with [unds to pay the ne:t mortga~e inaurance premium i( this instru- ment rnd the note sec~red hercby ate tasur~d. or. }~nunthly vhnr~e (io liea o[ • mott~~e iasur~ce pteotum) if they are h~ id by the Secretary uf HousinQ and Urb~n Developmept. •s tollowr. - (I1 It and so tonQ as said note of ~even date and this ~instwmeM ~te insurtd o' are relnsured under ths'~tovisions. ot the 1V,~tionol HousiAe Act, ~n Mnount suttioiest to occuawlate in the daeds ot tbe hotder one (1) moath p~ior te its due date the annual mortQage insurance prem?um, in order to provide sach holder with tunds to pay suchpremium to the Secrctary o( HousinQ ~nd Ur~an Developmcnt pursuant to the Nation~l Housin~ Act, as amended, ~nd ~pplicable ReQu- latiuns thereunder; or tlll If and so long ~s sa~d nute ot even date and this instrument are held by the Secret~ry o! HousinQ a~d Urbpn Develop- raent, a monthly chirge lieu ot • mortgaQt insurance premium) which shatl be in an amount equal to one-twel[th (1 1=) o[ onc-holt per centum of the •verage outstandinQ bslance due on the note computed wlthout takinQ into account deGnquenc~es or prepayments; ti~ A sum equai to the ground ree~~,'!t nr~t,due, ptua the premiums th~t wrill aest become due and payabte o~ policies of (?re and other hasard insurance covering the mortg~¢ed property. plus ta:es •~d assessments next due on the mort- Kagrd propert~ (a11 as est~ma~td b!, th~ nott~agee) less all aums alrcady paid theretor divided by the number ot months ta elapse before one month prior to the date when such ground rents, premiums, tases; and ~ssesaments will become de- linquent, such sums to be held by a~ortga~ee in truat to p~y s~id etound rents. premiums, tanes. ~ud speci~l ~ssessmeats; +nd ~ A1I p+ymrnts mentioned in the two preceding subsections of this paregrapD snd all p~yments to be made under the ~ote f secured herrD~• shall be added toQether and the •ggtegate amounl thereot ah~ll be paid by lhe mott¢a~or each month in a i s~ngle payment to be •pplied by the mortQagee to the foUoMring items in the otder aet [orth: ~ iI) prem~um chat~es unde~ tl+e conttact ot insurance with the Secretaty o[ HousinQ and Utb~n Devetopment, or monthly F charge (in lie~t of aort~~~ waurpc~ preaua~~ sa the c~se m~Z bs: E (11) ground rents, ta~ces, assesaments, fite, and ofher raz~rd insurance prem~Ums; ~ ~ (Ill) mterest on the'note~securld httesy; and ~ ~ - ' { l1V) amurtuauon oE the ptincipal ot s~id note. ~ Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the mortgagor ~ prior to the due date of the next such payment, constitate an event d default under this mortgage. T'he mo~tgagee ~ ma~ coliect a"late cha~ge5r i~ot to"excged two cents (2a) for each dollar (S1) of each payment more than fifteen (15) da}~s in arrears to cover the extta e:pense` invoIved ih handling delinquent payments. 3. That if the total of the paymeats made by tbe mortga~a undet (6) of para~aph 2 preceding shall e:ceed the amount of payme~ts actually made by the mortge , for g~ro~n~ rents~, taxea and assessments and insurance t r ~ premiums, as the case may be, such excess shall ecedite~ =by tl~e eortgagee on subs~quent peyments to be made by the mo~tgagoc. [f, however, the monthly payments made by the matgagor under (bJ of paragraph 2 pre- ~ ceding shall not be sufficient to pay ground rents, taxes and assessm.~nts and insurance premiums, as the case ~ may be, w~hen the same shall becaae due and payable, then the mortgagor shall pay to the modgagee any amount neeessaty ~to make up the de[iciency, on or betae the date when payment of such ground rents. taxes. assessments, ~ or insurance premivms shaU be due. If at any time the mortgagor shall tender to the mortgagee in accordance with ~ the pro~~isions ot the note secured hereby, full payment of the entire indebtedness rep~esented thercby, the mort- ~ gagee shall, in computing the amount of such indebtedness, credit to the account of the mortgagor all payments x made under the provisions of (a) of paragraph 2 hereof which the mortgagee has not become obligated to payto ~ the S~ccetary of Hat~ioQ ~nd Urban Development and any balance remaining in the funds accumulated under the ~ prov~sions of (61 of said paragraph 2. If there shall be a default undec any of the pcovisio~s of this matgage, re- ~ sult~ng in a public sale of the premises covered iereby, or if the mortgagee acquires the property otherwise after ` ~ de[ault, the mortgagee shall apply, at tbe time o[ the commet~e¢tien~. oE sucb ptoceedings or at the time the prop- ~ erty is othervuise acquired, the balance then remaineng in the funds accumul'ated under (6) of pacagreph 2 preceding ~ as a credit against the amount of principal then remeining unpaid under said note and shall properlyadjust any payments which shall have been made under (a) ot said paragreph. ~ 4. That he will pay all taxes, assessments, water rates, and other gove~nmental or municipal charges, fines, ~ ~ or impos~tions, for which provisian has not been made hereinbefore, and in de[ault thereof the mortgagee may pay ~ ~ the same, and that he will promptly deliver the official receipts therefor to the mortg,egee. ~ • ~ OR ~ doa~ 192 2046 ~ ~ ~ ~ r = ~ { . ~ - = ~ = ~ _ . ~