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Home My WebLink About2080 . s:~~d muriK.~kur durs hc•rrb~• fully veur~ant the title tu ~aid land, and ~r~rr}_p;~t thereo(, and w~ll detc•nd the s:~me uKai~til th~ lawful cla~m. of all per~uns w•homsue~et. - PR(1VIDED ALNAYS, and Ihese presentti are cxcruted and deli~~e~cd upon the (ollowing conditions, to wit: The moctgagor ag:ee~ to pa~• the mortg:+gee, oc order, the principal surn ot SEVENTEEY TH(~USAND FIVE NUNDR~D FIFTY snd 00~100--------•-----------------------------------------------•- p~llars (S 17 ~ 550.00 as e~•ideacrd by a note o[ eve~ date Ferewith, with interest [rom date a1 the ; rate ul ~ • per centum ( ? a) per annum on the unpaid balance untit paid. The said principal and interest shall be payable at the otfice of Sl'OC14'~• Mf1~l1'j+SY~ DA~IN C~11NY, l0A ~Nrt ~taY Street. Jack»Onville. ~'L~rida ~r at such other place as the holder of the note may designate in writing, in monthly installments of ONE t{UNDRhJ SIXTEEN snd 88~100•--••~-------•--------- Dollars (S 116.83 commencing on the first day ot September . 1971 . and on tne first day ot each month thereatte~ untiltheFrincipal and interest ace fully paid, except that the [inal papment of principal and interest, if not soonec paid, shall be due ; and payable on the first da~ of AuguSt~ 288I. . E And shall dul~•.-promptly, and fully pertorm, discharge, execute, ef(ect, complate, and comply with and abide bv each ~nd e~•ery the stipulations, agreement~, conditions, and covenants of said promissory note and of this mortgage, then this nortgage and the estate hereby cceatcd shalt cease and be null and ~•oid. r~nd the mortgagur [u~ther co~•enants as [ollows: l. That he will pa~• the indebtedness, as hereinbe[ore pra~~ided. Privilege is recen•ed to pay the debt in whole. or in an amount equal to one or more monthl}• payments on the principal that are next due on the note, on the first da~~ an~~ month prior to maturitV: Pro~ i4rJ, however, that written notice of an i~tention to exercise such privilege is g~~~en at least thirty (30) da~-s prior to prep:iyment; and, pro~ ided fu~ther, thal in the event the debt is paid in [ull prior to maturit~~ :~nd at thdt time it is ~nsured under the pro~~is~uns o[ the National Nousing Act, he will pay •o the mortgagee an adjusted premium charge of one per centum (1 0) of the original principal amount thereof, excePt th:,t in no e~•ent shall the adjusted premium exceecl the a~regate amount o[ premium charges which would ha~e been pa~~able if the mortgage had continued to be insured antil maturity; such payment to be applied by the mort- gagee upon its obligation to the Secretary of Nousing and Urban Development on accuunt of mortgage insurance. 2. That, in order more full~• to protect the security oi this mortgage, !he mortgagor, together with, and in addi- tion to, the monthl~• pa~•ments under the terms of the note secured hereby, on the tirst day of each montfi unlil the said note is full~~ paid, will pay to the mottgagee the [ollovring sums: An .+TUUnt sufftcieat to pro~•ide the hulder hereot vruh funds to pay the next mortgage insurancr prem~um it th~s instru- mrnt rndthe note secured herrby are msured, ur a monthi~ charge (~n lteu o[ a mortgage insurance premwm) i( the~ are held bti• Ihe Secretary of Hous~ng and Urban DrcelopmeM. as follows: (I1 (t and so IonR ac said note ot eren date and lhis in~trument are insured or are reinsured under the proe~siuns of the \ati.~nat Nousmg Act, an amouat suftirient to accumulate in the handa of the holder one (1) month prior to its due datr ihr ann~al mortgage insurance prerr:wm. ~n onfer to prov~de su. h holdrr w~th funds to pay such premium to the Srcrcta:ti' ::t H~us~n~ and Urban Drvelopment pursuant to thr Natlon~l Nous~ng Act, as ~mended, and appl~rable Regu- let~..ns therrunAer, or ~ II) If and ~o IonK as ~aid notr of rcrn datr and th~s instrument are held by the Secretarn of Fiousing and Urban Develop- r.irnt, a monthi~• charge (in i~eu uf a mortgage insura~ce premtuml uhsch shall be ~n an amuunt equai to one-tweltth (1 1_~ of one•hal( per centum ot the a~eragr outstand~nR balance due on the note c.,mputed w~thout tak~ng into a:r.~unt deGnquenc~cs or prepayments, A sum eyual t. the ground rents, an~~, next due. plus the prrm~ums that w~li ae:t becume due and payable on polic~es . f~rr and uthrr harard insurance covering the mortgaged property, plus taxes and assessments ne:t due on the mort- ' KaKrd pr.~prrh~ ~all as est~mated by the r.iortgagee) less all sums alrrady paid therefur dicided b~• Ihe num~er ot months to e•lapsr bef.:re unr mont6 prior to the date when such ground ten:s, prem?ums, taxes, and assessments uill become de- linyucnt, surh sums to be hrld bv r..urtgagee m trust to pay sa~d ground rents, prem~ums, ta:es, andspec~alassessments, and ~ All pdy'rec•nt~ r.icntiunc~d in the two precrd~nq subsrctionc o( this paragraph and ali pa~ments tu be made under thr nute securrd herr~~' shell br added t•~grther and the aKKreR+le am.~unt there~.( shafl be pa~d by the mortgagor each munth m a :~nKlr pa~mrnt t~ Ae~ app2ted by the :r.ortRa~,er t~, th~ f~Ituvr~nK Rrms tn the ordrr set (orth: (1) prrmwm rharges under the ruatract ~..f insur.+n:~• uith the Secretan~ uf Housing and Urbin De~•elupment, or monthiy rharge i~n lieu of .^,.,~rtKa~;r insuran. r prer.:iur.. as the case may be, (Il~ gruund rents, taxes, assessments. (~re, and other hazard insurance pr^m:ums, ~111) mtere~t un the nutr ~rcurrd rtrreb}•. +nd (I~'? .+^:~~rttcah. n ot the pnnc~pai o( said nutP. Anc def~cienc~• m the ar:ount of ~uch a~regate monthl~ pa}•ment shall. unless made good by the mortgagor pnor to the due date of the next such pa~ment, con~t~tute an event of default under this mortgage_ The mortgager r.iac collect a"tate charge" not te exceed t~o cents (2Q) for each dollar (SI) o( each payment more than fifteen {1~) da~s ~n arrears to co~•er the extra expense ro~•oh•ed in h~+ndl~ngdeLnquent payments. 3. That if the total of ihe p~+}•ments made by the mortgagor under (l~i of Pacagraph 2 preceding shall exceed the amount of the papment~ actuall~ made b~~ the mortgagee, (or ground rents, taxes and assessments and ir~ur- ance Exemiums.as the case may be, such excess at the option of the mortgagee, shall be credited on subsequent prayments to be made by the mortgagor, or refunded to the mortgagor. If, however, the monthly payments made by the mortgagor under /F~~ ot paragraph 2 preceding shall not be sufficient to pay gtound rents, taxes and assess- ; ~ ments and ~asurance premiums. as the case may be, when the same shall become due and payable, then the mort- ~ gaga shail pey to the rr~ortgagee any amount necessary to make up the deficiency, on or before the date when pay- ; ~ ment of such ground rents, taxes, assessments, or insurance pcemiums shalt be due. It at any time the mortga- ~ ~ gor shall tender to the mortga~ee in accordance with the provuions of the note secured hereby, Eull payment of the e~t~re ssxiebtedness represented thereby. the mortgagee shall, in computirg ihe amouni of such ~ndebtedness, credit to the account d the mortgagor all payroents ma~e :;n~es ~!w~~ions of /o) of paragraph 2 hereo( whichthe mortgagee has not become obligated to pay to the Secretart ot Nousing and Urban Uevetopment and any ba:axe ~ re:naining ~n the fune~s accumulated under the provision~ of /h) of said paragraph 2. lf there shall be a default un- der any oi the provisions of this mortgage, resultinR in a public sale of the premises co~•ered hereby, or if the mortgagee acqusres the property otherwise after default, the mortgagee shall ap~ly, at the time ot the commence- ~ ment o( such praceedings or at the time thc property is otherw~se acquired, the balance then re?naining in the Eunds ~ ~ accumulatcd under ILI oE praragraQh 2 preceding as a credit against the amount ot Qrinc~pal then remaining unpaid ~ under said note and shall properly adjust any payments which shali have been made under lu/ of said paragraph:, ; ~ ~ i ~ ~ ~ a~~K 194 2079 ~ ~ ~ . - : - - , _ y-~.~ ~ . . e _M~