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Home My WebLink About1910 ~aid mottgago~ due~s heteby ful1~• wa~~ant Ihe titlc~ tu ~a~d land, and e~•e~y p:+~t thereo[, and w~ll drlend the s;~me ,+~almt the L~wh~! claim~ o( all ~xrsun~ whumsc~cver. PROVIDED A1.11'AYS, and these present~ are excti•uted and deli~•e~ed upon the (olluwing conditions, to wit: The mortgagot ~grees to pay the mortgagee. or order, the prioc:pal sum ol ~;I'~:"=i::S': '_''CUSA:": ~~:t ::~^.:JiL::'J 11::7 .`:J/1~C Dollars (S1f3,~~C^..C~ as e~•idenced by a note o( even date hrrewith, with interest (n~m date at the rate of ~v~ pec ce~tum ( 7 °''a) per annum o~ the unpaid baldnce until paid. The sai~~ principal and inter~•st shall be payable at the o[tice ot ~~1~~Ot~. 11H~1TtgY. DAVIN t CG!!P'ANY. 100 ~1~st Bay S~°et. Jacksonville. Florida ~ at such other place as the holde~ ut the note ma~• designate in writing, in monthly installments ot O: ~;:;;;;a;; ;J :1~~..*'.'~_'-_'?.T2E:.. ?1.`:!; 33/2CC DoUats (S I33.'.:% commencing on the first day of A:::f t . 19 71, and on the fi~st day ot each month thereafter until the principal and inte~est are fully paid, except that the final payment of principal and interest, if not sooner paid, shall be due and payable on the (irst day o[ ,7;~1~• 200=. ~ And shall duly~, pcomptly, and full~• periorm, discharge, execute, effect, complete, and comply with and abide bp each and e~•ery the stipulations, agreements, conditicxts, and covenants of said promissory note and o[ this mortgage, then th~s mortgage and the estate herPby c~eated shalt cease and be null and void. And the mortgagor further co~enants as follows: 1• That he will pay the indebtedness,as hereinbefore pruvided. P~ivilege is reserved to pay the debt in vehole, ur ~n an amount equal to one oc mae monthlS payments on the principal that are next due on the note, on the [irst daS• of any month prior to matu;ity: f'r.~~ ~J. d, however, that writte~ notice o[ an intention to eYercise such privilege ~s gi~•en at least thirty (30) days priw to prepeymeot; and, provided [urther, that in the event the debt is paid in full priar to maturity and at that ticr+e it is insured under the pro~~isions of the National tlousing Act, he wiil pay to the mortgagee an adjusted p~emium charge of one per centum (1 0) o[ the original principal amount thereof, except that ~n no e~~ent shall the adjusted pcemium exceed the aggregate amount of premium cha~ges which Kould hace been pa~•able if the modgage had continued to be insured untii maturity; such payment to be applied by the mort- gagee upon its obiigation to the Secretary of Housing aad Urban Development on account of morigage insurance. 2. ~I'hat, in order more fully to protect the security of this mortgage, the mo~tgagoc, together v?ith, and in addi- tion to, the monthl~ pa}~ments under the terms of the note secured heceby, on the first day of each month until the said note is [ully paid, will pa}• to the mortgagee the following sums: ~r: An amount su(ficient to provide the holder hereo( with [u~ds to pay thr next murtgage ~nsurance prem~um i[ th~s ~nstru- ment and the note secured hereby are ~nsu~ed, or a monthly charge (in tiru ot a mortgage insurance premium) if the~ are held b~ the Secretary of ~Iousing and Urban Development, as follovrs: li1 I[ and so lung as said note ut even date and this ~nstrument are insured or are reinsured under the provisio~s o( ihe \au~n~l H~~using Act, an amount su(t~c~ent to accumulate in the hands of the hoider une (11 mo~th priur to its due daie the annual mortgage ~nsurance premwm, i~ order to prov~de such holdrr w~th funds to pay such prem~um to the Secretary• ot Nous~ng and Urban Development pursuant to the hat~onal Hous~ng Ac:. as amended, and applicabte Regu- lations thereunder, or ~IIf If and se long as said nute ecen date and th~s insttument are held by lhe Secretary of fious~ng ~nd lirban Dra•riuy- ment, a r..onthly charge (in !?eu o( a mo~tgage ~nsurance prem~uml which shall be ~n an aa:ount equal tu one-tweifth (1 121 of oae-hal( (1:) per rentum of the average outstand~ng balance due un the note computed w~thout taking ~nto ~ciount delinquenc~es or prepayments, A su.r. equat to the ground rents, i( any, neit due, plus the prem~ums that will next become due and payable un pol?c~es ot fire and other hazard insurance covermg the mortg+ged property, plus taYes and assessments next due on the mort- ` gaged propertc (all as estimated by the mortgagee) less ail suns already paid there[or div~ded by the number ot months f to e:apse De[oce oae month prior to the date when such ground ren!s, prem~ums. !~xPs, and assessmrnts w•ill become de- ~ linquent. such sums to be held by mortgagee in trust to pay said ground rents, prem~ums, ta:es, andspecialassessments, I{{{ and E + All Da}•r:.ents n:entioned m the tvru preced~ng subsections o( th?s paragraph and atl payments to be made under thr nute I secured herebc shall be added together and the aggrega;e amount thereof shall be paid by the r.:urtgrgur each munth ~n a single pay:nent to be appl~ed b~• !he mortgagee to thr (ollovv~ng ~tems ~n the order set forih: ~ lI) premium charges under the contract of ~nsurance w~th the Secretary ot Housing and Lrban Decelupment, or monthlq charge (in lieu of martgage ~nsurance premium), as the case may be; t1I1 ground rents, ta=es, assessments, [?re, and other hazard ~nsurance premiums; (!il) interest on the note secured hereby, and (I~') amorttlotton o[ the pnnc~pal o[ said note. Any deE~cienc7• in the ar~ount of such aggregate monthly payment shall, unless made good by the mortgagor pnor to :he due date of the next such pa}~ment, constitute an e~•ent oE default under th~s mortgage. The mortgagee ma} collect a"late charge" not to exceed two cents (2C) iw each dollar (S1) of each payment more than fifteen ~t5) days ~n acrears to co~•er the extca expense im•ol~•ed in handling delinquent payments. ~ 3. That if the tdal of the payments made by the mortgagoc under (61 oE parag~aph 2 preceding shall exceed the amourt of the paymeMs actualiy made by the matgagee, for g~ound rents, taxes and assessments and insur- ance premiums.as the case may be, such excess at the option of the mortgagee, shall be credited on subsequent peyments to be made by the mortgagor. or refunded to the matgagor. U, however, the monthly payments made by ~ the mortg,agor uncier (5/ of paragraph 2 preceding shall not be sufficient to pay gtound rents, taxes and assess- ~ ments and irLSUrance premiu~as, as the case may be, when the same shall become due and payable~ then the more• - gsg,;: s~:: :o i7~e mortgagee any amount necessary to make up the deficiency. on or befae the date when pa}~- " ment d such ground rents, taxes. assessments. or insurance premiums shali be due. it at any time the mo~tga- gor shatl tender to the mortgagee in accordance with the provisions of the note secured hereby, full payment of the ~ entire irdebtedness represented thereby, the mortgagee shall, in coaputirg the amacnt of such indebtedness. ~ credit to tM account ot the moctgagor all payments made under the provisions of (a) of paragraph 2 hereof whichthe ~ mortgagee has not become obligated to pay to the Secretary of Housing and Ucban Development and any balance reasaining in the funds accumulated under the pravisions oE (6) of said paragraph 2. lf there shall be a default ~n- ~ der any d the pcov~sions of this rtwrtgage, resultinR in a public sale of the premises co~•ered hereby. or if the ~ mortgagee acquires the property otherw~se a(ter default, the mortgagee shall apply, at the time o[ the commence- ~ ment of such proceedi~s ot at the t~me the property is otherwise acquired, the balance then remaining in the funds accumulated under !h/ of paragraph 2 preced~ng as a credit against tM amount of principal then remain~ng unpraid ~ under said note and shall properly adj~st any payments which shall have been ^~ade under !u) o[ said paragraFh. z~ ~ , . ~ , ~ r ~ 1~4 1~09 ~ ~ - - - r ~ - s ~ _ ~ _ _ _ . . . - -