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Home My WebLink About2692 ~ f' ; i,i.~ sutd mottg:~gor does hereb~ (ully wa~~ant the title to said land, and e~~e~y patt the~eof, and w~il defend the same ~gainst the lewtul ~laims of all pe~sons whumsoeve~. PROVIDED Ai.w'AYS, aod these p~esents ere executed and delivend upon the following conditions. to wit: The mortgago~ a~cees to pay the mo~tgagee. or ocdet. the pcincipal aum oE SlV~I~1 T~US~ND ON6 ~ Nonoo ~A~N~~~~~~~~Y~M~~~~~~~~~~~~~~~~~A~~~~~~~~~~~~~~N~~~~~~~~~~ pollers (S 17,150.00 as evideocrd by a note of even datr herewith. with interest from dote at the ~ate oi Ei9ht per centum ( 8 9G) per onnum on the unpaid bAl~+nce untit paid. The said p~incip~l and i~terest shall bo p~yable ot the oftice oE STOC~c1~ON, 11N~1Ti~t, Dii1VIIi i c.~OMP11t~Y, 100 Iiest Hay Street, JACksonvilla, Florida w at such other place es the holder of the note mpy designate in w~itioQ~ in monthly installments of GNS HuNDR~ q~~_~r~ ~p gg~lpp NM~~~N~N~M~N~ po~~ars (S 125.88 commencing on the first day of ~ly . 14 71. and oa tl~e first d~y of each month theceafte~ untiltheprincipal and interest Ace fully paid. except tbat the Ein~l payment of p~incipal ond intecest. iE not sooner peid, shall be due and payable on the flrst day of ~7Lins. ~001. Aod shall duty, proa~ptly~ and fully pcdocm, discha~ge, execute. etfect, complete. and comply ~with and abide by each a~d eve~y the ztipulations. a~reemeats, co~ditions. and covenants o[ said praaissory note and of this mo~tgage, then this mortgoge and the estate hereby created shall cease and be null and void. A~d the moctg~g~t tuNher eovenants ac Eollo~=: - 1. That he will pay the indebtedness. as hercinbefore provided. Privilege is ~esetved to pey the debt in ahole. or ~n an amount equol to one oc mae monthly paya?ents on the principat that are next due on the note. on the first da~• of any month p~ior to metu~ity: P.o~~ided, howevec. thet written notice of an intentlot~ to exercise such privllege is given at least thi~ty (30) days prior to prepoyment; and. provided further. that Ia the event the debt is peid in full prio~ to maturity and at that time it is insured u~der the proviaioas o[ the N~tional Housitr~ Act. he will pay to the mortgagee an adjusted premium charge oE one per centum (19L) of the ociglnal princippl oaaount thereof. except that in no event shall the adjuste~ premium exceed the eggregate amouat of pcemium ch~r~es ahich would have been payable if the mo~tgage had continued to be insuced until maturity; such poya~ent to be applied by the mort- gagee upon its obligation to the Secretary of Housing and Urban Development on account oE matgp~e insunnce. 2. That, io order moce fully to pcotect the secnrity of this mortgage. tbe mortgagor, to~ethet with. and ln 4ddi- cion to, the monthly peyments under the terms of the note secured heceby, oa the flrst dwy of each month until the said note is fully paid. will pay to the mortgagee the follawing sums: . r„1 An amount sutticient to pwvid~ the holder dereot Mrith tuads to pay the nest aort~aQe insucanc• premium if this instru- mer~t ond the note :ecured hereby are insured, o~ • monthly cdarQe (?a lieu o[ a aeortQa~e iasutsnce premium) lt they ~re hetd by the Sec~rtarp of Hoasing and Urban D~~elopa~ept. •s totlo~rs: (I) I[ and so lon~ as said aote ot •v~a date and tAls instn~meat ue insured or ars hinsured under th~ phvisions ot the N++uonal Housio~ Act. an amouat sutlicient to ~ccumul~te ln tee haads ot the holde~ oae (1) moath prtor to its due d~+ie the annual mortQaQe lasurance premium, ia order to p~ovide sueh holder wlth tunds to p~y sucb premium to the Secretary of Housine rad Urban Developmmt pursuant to the N~tioaal Housin~ Act, as ~a~ended. ~nd applic~ble Reeu- lations theteuader; or (11) l( and so long ~s said aote ot evee d~te •ad this iaatrumeat ~re held by the Secretary o[ Housin~ and Urban Develop- ment, a monthly charge (in lieu of a mort~a~e insunnce premium) which shall be ia an amount equ~i to oae-twet[th ' ~(1 12) of one-half (~fi) per centum of the •ver~~e outstandinQ balance due oa the note compoted witdout takinQ iato account delinqueacies or prepaymeats; ~ ! !til A sum equat to the ground rents. i[ u~y, ae:t due. plus tha prsa?iums that wrill oest become due and p~ysble on policies ~ ot (ire and other hszard iasurance coverin~ ~the a~ortsa~ed property, pfus t~xes aad assessments ne:t due on the mort- ~ gaged property (all •s estimated by the mortg~Qee) less all sums •iready p~id theretor divlded by the number o[ months ~ to elapse betore one month prior to tl+e date wAea such ~mund rents, premiuws, ta:es, ~nd sss~s~meats will become de- f linquent, such sums to be held by mortgo~ee in trust to pay a~id eround tents, prcmiums, tues, ~nd speci~l ~sses~ments; ~ and /c/ Ail payments meationed in the two preceding aubsections of this p~ra~aph ~nd all p~ymeats to be made uader the note secured hereby shall be sdded together and the a~~e¢ate omount thercot shall be poid by the mortQaQor each moath ia • single payment to be appTied by tl+e mortea~ee to the tollowin~ items in t6e otder set [wth: (I) premium char~es under the coalr~ct of insutaACe ~rith the S~crctoty ot Nousiwt apd Urban Dcv~lopment, or monthly ~ ~ charge (in lieu ot mort~a;e insutance premiwo). ~s tUe case m~~ bs; (11) emund reats, ta:es, assessments, [ire, aad otbe~ hasard insur~nce prea?iums; (III) intercst on the note secured hereby; ~nd (IV) amortisation o( the priacip~l ot soid note. Any deficiency in the emaint af such aggregate monthly payme~t shell. unless made good by the mortgagor prior to the due date oE the next such payment, constitute en event of default un¢er this modgage. The mortgagee may collect a"late charge" not to exceed two cents (2t) f~ each dotlar (SI) of each payment more than Eifteen (15) days in arrears to cover the extrp expe~e involved in handling delinquent payments. 3. That if the total of t6e peyments made by the morteagor under (6) of paraeraph 2 preceding slwll ezceed ~ the amount of payments actually made by the mottgagee, for g~ound eent~. ta~ces and assessiaents and insutance ~ premiums, as the case may be, such exceas slwll be credited by the mortgagee on subsequent p~yments to be made by the mortgagor. If, however. the monthly payments made by the mo~tgagor undet (b) af paragraph 2 pre- ceding shall not be sufEicient to pay ground rents, taxes and assessm.mts and insurance premiums, as the case ~ may be, when the eame chaU become due and poyable, tben the mat~cgor stwll pay to the modgegee any amount >t necessary to make up the deficiency, on or befae the date whea payment of such ~round rents. taxes. ossescments, ~ or insucance premiums shall be due. U at any time the mortgagor shalltender to the mortga~ee in accordance with ~ the provisions o[ the note secured hereby, full Qayment of the entire indebtedness repcesented thereby, the mort- ~ gagee shall, in caaputing the amount of such indebtedness, ccedit to the account af the mortgagor all peymeata made under the provisions of (aJ of paragraph 2 heced ~rhich the mottgagee has not become obligated to peyto ~ tbe Secretazy of Housiag and Ucban Development snd any balance remaining in the funds accumuleted undec the ~ provisions of (b) ot said paragraph 2. lf there shall be a default undet any oE the ptoviaio.ls of this mortgage, re- sulting in a public sale of the premises covered ureby, a if the mortgagee acquires the property otherwise aftec ~ default, ihe matgagee sheli apply, ~t t}~ time of the commencement of such proceedings or at the time the prop- ~ erty is othervrise acquired, the balance then remaining in the funds accumulated under (b) of paregraph 2 preceding ~ as a credit egainst the amount o( pcincipvl then remaining unpaid under said note and shall properlyadjust any ~ payments which shall have been made undet (o) of soid paragtaph. ~ 4. That he will pay aU taxes, assessments, water rates, and dher governmental or municiPal ch~rges. fines. « impositions, for rvhich provisioo has not been made herrinbefoce. end in default thereof the mortga~ee may pay ~ the same; and that he will promptly deliver the otficial teceipts therefor to the mortg,egee. ~ ~ ~ ~ ~ ~ a~K19z z686 , ~ ~ . ~ ~ f: ~ _ . _