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Home My WebLink About1916 said mortgagor dces he~eby fulty wa~rant the title to said la~d. and eve~y part iheceof, and will defend the samP ~+gainst the I:iwful claims of all perso~s whomsoever. PROVIDED ALN'AYS, and these p~esents a~e executed and delivered upon the (ollowing conditions, to wit: The moitgagor agcees to pay the mortgagee, or ocder, the p~incipal sum of NINETEEN THOUSAND THREE HUNDRED and OO~100~~~~~~~~~~r~~~~~~~~~~~~~~r~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Dollars (S 19 s 300.00 as evidenced by a note of even date herewith, with interest f~om date at the rate of sgvet~ pe~ centum ( 7 °b) per annum on the unpaid balance until paid. The said principal and interest shall be payable at the of[ice of MH~1TI,8Y, DAVIN i~ C~P71t~1Y. 100 Msst Bay Stacest, Jackaonville, Fborida - or at such other place as the holder of the note may designate in writing, in monthly installments oE ONE HUNDRED T4IENTY-EIGHT and 54~100--•-------•---------Dollars (t 128.54 coma~encing on the fi~st day of September . 19 71 . and on the fi~st day oE each month thereafte~ untiltheprincipal and intecest ace fully paid. except that the final payment of principal and interest, if not soor?er paid, shall be due ~ and payable on the first day oE August~ 2001. ; And shaU duly, promptly, an~ fully pedorm, discharge, execute, effect. complete, and comply with and abide by each and every the stiputations, ag~eements, conditions, and covenants of said promissory note and of !his mortgage, then this mortgage and the estate hereby created shall cease and be null and void. And the mottgagor furthe~ covenants as Eollows: l. That he will pay the in8ebtedness, as hereinbefore provided. Privilege is rese~ved to pay the debt in whole. or ~n an amount equal to one or more monthly payments on the pcincipal that are next due on the note, on the first day of any month prio~ to maturity: Pn~ciJrd, however, that writle~ not,:.e of an intention to exercise such privilege is given at least thirty (30) days prior to prepayment; and. p~ovided fudher. that `in the event the debt is paid in full prior to maturity and at that time il is insured under the provisions of tha National Housing Act, he will pay to the mortgagee an adjusted premium charge of one per centum (lro) oE the original principal amount thereof, except that in no event shall the adjusted premium exceed the agg~egate amount of premium charges which would have been payable if the mortgage had continued to be insured u~til maturity; such pay:nent to be applied by the mort- gagee upon its obligation to the Secretary of Nousing and Urban Development on account of mortgage insurance. 2. That, in order more fully to protect the security of this mortgage, the me~tgagor, together with, and in addi- tion to, the monthly payments under the terms of the note secured hereby. on the first day of each month until the said note is fuq~ paid, wili pay to the mortgagee the [ollowing•sums: !a/ An amount sut(icient to provide the holder 6ereo( with (unds to pay the ne:t mortgage insunnce premium i[ this instru- ment andthe note securcd hereby are ~nsured, or a monthly charge (~n lieu of a mortgagc insurance premium) if they are held by the Secretary o( Nousing and Urban Qevelopment, as foUows: I( and so iong as said ~ote ot even date and this instrument are insured or are rcinsured under the provisions ~f the National Hous~ng Act, an amount su[t~cient to accumulate in the hands of the holder oae (I) month prior to its due date the annual mottgage insurance premwm, ~n order to prov~de such holder with funds to pay such premium to the Secretary o( Housing and Urban Development pursuant to the National Housing Act. as amended, and applicabte Regu- lations thereunder, or ~II) It and so long as said note of even date and th~s instrument are held by the Secretary o[ Noustng and UrDan Develop- me~t, a monihly charge (in lieu of a mortgage insurance premium) which shali be in an amount equal to one-tweltth ! 1' 12) o( ene-hal( (!4) per centum o( the average outslanding balance due on the note computed without taking ~nlo i account delinquenc~es or prepayments; I !t~~ A sum equal to the gromd rents, if any, next due, plus the premiums that will next hecome due and payable on policies ~ of Gre and other hazard insurance covering the mortgageu property, plus taxes and assessments ne:t due on the mort- j gaged property (all as eshmated by tht mortgagee) less all sums already paid there[or divided bp the number ot months ~ tu elapse before one month prtor to the date vchen such gruund rents, ptemiums, taxes, and assessments w1U become de- ~ I~nquent, such sums to be heid by mortgagee in trust to pay sa~d ground rents, p~em~ums, fa:es, and special assessments; ~ and ) All paymrnts mentioned in the two preced~ng subsections of thts paragraph and all payments to he made under the note ~ secured herrby shali be added together ana the aggregate amount thereof shall be paid by tfie mortgagor each month in a s~ngle payment to be applied by the mortgagee to the [ollow~ng ~tems in the order set torth: ~ (I) prem~um charges under the contract o[ insuranre with the Secret~ry of Housing and Urban De~•elopment, or monthly charge (~n tieu of mortgage insurance ptemium), as the cas~ maY be; ~ ground rents, taxes, assessments, (~re, and other hazard tnsurance prem?ums; (III) interest on the note secured hereby; and (IVl amort~zat~on of the principal o[ sa~d note. Any deficiency ~n the ar.iount 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 o[ default under this mortgage. The mortgagee may collect a"late charge" not to exceed iwo cents (2e) for each dollar (SI) of each payment more than fifteen ~ (15) days in arrears to cover the exira expense involved in handling delinquent payments. ~ 3. That if the tota~ ;f the payments made by the mortgagor under (6J of paragraph 2 preceding shaU exceed ~ the amount of the payments actually made by the mortgagee. for ground rents. taxes and assessments and ir~sur- ~ ance premiums.as the case may be, such excess at the option o[ the mortgagee, shall be credited on subsequent ~ peyments to be made by the mortgagor, or refunded to the moctgagos. If, however, the monthly paymeMs made by ; the mortgagor under (6) of peragraph 2 preceding shall not b~ suificient to pay gtound rents, taxes and assess• ~ ~ ments and insurance premiums. as the case may be, when the same shall become due and payable, then the mort• ` ' g,aga shall pay to the mortgagee any amount necessary to make up the deficiency, on or beEore the date when pay- f ~ ment d such ground rents. ta:es, assessments, or insurance premiurtLS shall be due. If at any time the m«tga- ; gor shal! tender to the mortgagee in accordance with the provisions of ihe note secured hereby, full peyment of the entire i~debtedness represented thereby. the mortgagee shall, in ~omputirg the amount of such indebtedness, ~ credit to the account of !he mortgagor all peyments made under the ~rovisions ot (a) of paragraph 2 hereof whichthe ~ mortgagee has not become obligated to pay to the Secretary of Honsing and Urban Development and any balance remaining in the Eunds s~ccumulated under the provisions of (h) of said paragraph 2. If there shall be a default un- ~ der any of the provisions of this mortgage, resultinR in a public sale of the premises covered hereby, or if the ~ mortgagee acquires the property othernise after default, the mortgagee shall apply, at the time of the commence- ~ ment of such proceedings or at the time the property is otherwise acquired, the batance then remaining in the Eunds ~ accumulated under (b) of peragraph 2 preceding as a credit against the amount of principal then remaining unpaid ~ under said note and shall properly adjust any payments which shall have been ~nade under (a) of said paregraph. ~ . ~ ; ~ - ° ~ 194 191.5 - - ~ SUU~ ~ ~ ~ , _ _ - - - . - _ . _ _ L ~ ~ ~.S .f.~ = Y _ _ _ !t -~a ~ . _ . ` _ _ ' - _Y ~Ea '~.'~o.e