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Home My WebLink About2299 r t f ~ s<~id mortgago~ dces he~eby (ully wa~rant the title to said land. and eve~y patt thereof, and w~ll de(end the same ~ c~gainst the law[ul claims of ell pe~sons whomscever. ~ ~ PROVIDED ALN'AYS. and these p~esents are rxec uted and delive~ed upon the following conditions. to wit: ~ The mortgagor agrees to pay the moctgagee. or o~der, the principel sum of g=(,`~, ~ T}~p(~,~?~ ~Rgg ~ HUI~IDRBD AI~ID t~l~/100___________~..___~_________N___.._-____..____..__.___...._______~-____ ' po~lars (S 18, 300.00 as evidenced by a note ot even date herewith, with interest from date at the rate ot per centum ( 7 9G) per artnum oa the unpaid balance until paid. The said princip~l and interest shall be payable at the office of 9POCllZ~1. M!!AS'fi!!. W?VIN i CaO~1R, 100.Mu! 8~ ~tsMt. Jark~onvill~. ~3orida or at such other place as the holder oE the note may designate in writing, in monthly instal(meats of ONB H~JI~IDRSD 1WSMl'!C-ONis ~1I~ID 88/100-----------0ollers (5121.88 comn~encing on the first day o[ ~ June . 1971 . and on the tirst day oE each moath theceaftec untiltheprincipal and interest are fully paid. except that the finel payme~t of principal and interest, if not sooner paid. shalt be due and payable on the first dey of pay, 20p1. And shall duly, promptly. and tully perform. discherge. execute, effect. complete, ani comply with and ebide b~• each and every the stiputations. agreements. conditions. end covenants of said promissory note and of this mortgage, then this mortgage and the estate her~5~ created shall cease and be null end void. And the moctgagor further covenants as follows: 1. That he will pay the indebtedness. as hereinbefore provided. Privilege is reserved to pay the debt in whole, or ~n an amount equat to oae a more maathly payeents oa th~ principal that ac~ aext due on the nots, on ths Eirst day of any month prior to maturity: P.ot~ided. however. that writte~ ~otice oE an intention to exercise such privilege is given at least thirty (30) days prior to prepeyment; and. provided Eurther, that in the event the debt is peid in [uli prior to maturity and a: that time it is insuced under the provisions ot the National Housing Act, he will pay to the mottgagee ao adjusted pcemium charge of one pet centum (196) of the original principal amount thereof. except that in no event shall the adjusted premium exceed the aggcegate amount of premium charges which would have been payable if the mortgage had continued to be insured until nwturity; such payment to be applied by the mort- gagee upon its obligation to the Secretary oE Housing and Urbon Development on account of mortgage insurance. 2. That, in order more fully to protect the security of this mortgage, the moctgagor. together with, and in addi- tion to, the monthly payments undec the terms of the note secured hereby, on the first day of each month until the said note is fully paid. wiU ppy to the mortgagee the following sums: ~ai An amount sufticieat to provide ~he bolder heroot aith [upds to p~y the ne:t mort~a~e iasur~pce premlum i[ this instru- ment and the aotc secuced hereby are insured, or a monthly ch~rge (in lieu o[ a mort~~e iasur~nce premium) it they ire held by the Secretary Oi Hausiru and Urbaa Developmeat~ ~s tollows; ~ • (1) I( and so lon~ ~s said oott oi evep d~te ~1?d tbis iaswsent ~te ia~ured w' ser. r~insuhd_ vnder the ~o~lsiors of the ~ National Housin~ Act, an amount sutticient to accumulate in the hands of the holder one (1) moath prior to its due date the annual mortgaQe inaurance premium, in order to provide such holder writ6 tunds to pay such premium to the Secretary o( Nousing and Urban Development purcu~nt to the Nstional Housing Act, ~s amended, ~nd applic~ble Re¢u- lations lhereunder, or ~1[) If and so long as said note ot even date •nd thts instrument sre held by the Secret~ry o( Housing ~nd Urban Develop- ment, a monthly charge (in lieu o[ a mortgage insunnce prcmium) which shall be in an •mount equal to ooe-twei(lh (1 ' 12) oi one-half per centum of the average outstending balpnce due on the note computed writhout t~kiuQ into accou~t delinquencies or prepayments; ~hr A sum equa! to the ground rents, if ~ny. ae:t dYe, plus the premiums th~t ~vill ne:t become due aad payable on policiea ot [ire and other bazprd insuranct covering the mottgaeed property, plnc tazes ~nd •asessments ne:t due on the mort- gaged property (atl as estimated L~ the monga¢ee) less all sums already paid theretor divided by the nunber o[ months to elapse be[ore one m~th prior to the date when such ground rents, prtmiums, ta:es, •nd assessments wili become de- I~nquent, such sums to be held b~ soriga¢ee in trust to pay said Qround rcnts, prcmiums, t~es, aad special asseaaments; ' ~nd I !c 1 Ali payments mentioned ~n the two preceding subaections of this patagraph and all p~ymtnla to be made under the note ~ secured hereby shall be added together and the aggregate amo~nt thereof shaU be paid by the mortgagor each month in a ~ single payment to be applied by the mortgagee lo the [oilowing items in the order set torth: ! (n premium charges uader t!~ contract ot insurance with the Secretary ot HousinQ and Urban Development, or monthly ; charge (~n t~eu ot faoKp~e insYnpce,pr~miom). as tbe Cau mq be; (!i) ground rents, t~:es, assessa?ents, fire, and other hazud insursace premiucas; ([Ill ineerest on the note s~cnred her~by; ~nd ' - - (iV) amortization o( the psincipal ot ssid note. Any deficiency in the ar.wunt of such aggregate monthly payment shall, unless made good by the matgagor prior to the due date of the next ~uch payment, constitute an event of default undec this mortgage. The mortgagee ~ may coilect a"late charge" not to exceed two cents. (2a) for each dollac (jl) of each payment mae than fitteen ~ (15) days in arrears to cover the ext~a expense involved in handling delinquent payments. 3. That if the total oE the poyments mede by tbe moctgagor uader (b) of para~raph 2 preceding shall exceed ~ the amount of payments actually made by the morteseee. Eor g~round rents, taxes and assessments and insurance ~ premiums, as the case may be, such exceas shall be eredited by the mortgagee on subsequent peyments to be ~ made by the mortgagor. If, how~ver, the monthly peyments made by the moctgagor under (6J of paragraph 2 pre- ~ ceding shall not be suf[icient to pey ground rents, taxes and assessm.~nts and insurance premiums, as the case may be, when the same shall become due and payable. then the matgngoc shall pay to the moctgegee eny amount necessary to make up the deficiency. on or befae the date when peyment of sucb ground rents. taxes, assessments, ~ or insurance premiums shall be due_ If at any time the mortgagor shall tender to the mongagee in accocdance with ~ the provisions of the note stcured hereby, (ull payment of the entire indebtedness repcesented thereby, the mort- ~ gagee shall, in comPuting the amount of such indebtedness, credit to the account of the moctgagor all payments ~ made under the provisions of (a) of paragraph 2 hereof which the mortgagee hes not become obligated to peyto ~ the Seccetary ot Hwsiag and Urban Development and any balance remaining in the funds accumulated undec the ~ provisions ot (L) oE said paragraph 2. If thece shall be a default undec any oE the provisions of this mortgage, re- ~ sulting in a public sale of the premises coveced ~ereby, oc if the mortgagee ecquires the property otherwise aEter defautt, the mortgagee shali apply, at tht time of the como~ncea~ent of guch preceedings or at the time the prop- ~ erty is otherwise acquired, the balance then rcmaining in the funds accumulated under (h) of paragraph 2 preceding ~ as a credit agai~st the amount of pcincipel then remaining unpaid under said note and shall properlyadjust any ~ payments which shall have been made under (aJ of said paregcaph. ~ 4. That he will pay all taxes, assessments, water rates, and other governmental or municipal charges, fines, ~ or ~mpositions, for which provision has not been made hereinbefae, aad in default the~eof the mortgagee may pay ~ the same; and that he will pcomptly deliver the official teceipts therefor to the mortgagee. ~ ~ • ~ ~ " y 600K 1~ ~ ~ ~ - ~~y ~ . ~ ~V,-: - - „ . . - . ~