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Home My WebLink About2321 ~uid mo~tg,~gor due•s hereby fuli~~ K~ircant th~ titlc~ t~~ su~d land, aad rrery p:,rt lhemu(, und will defrnd the s:~me :~K:~ms! the~ laa~ful cl.i~ms u( al! ~xrsuns whumsue~rt_ PROVID~D r1LN'AYS, and ihese pn•sents are executed and dt:tivrr~~d upon the following conditions, to wit: The mo~tgagor a~trees to pay the mortgagec, ur u~der, the princ~pal cum o( SEVENTEE[~! THOUSAND FIVE IlUNDRED FIFTY and 00~100------------------------.._•-------•--•-.•------------•-•- [k>llacs (S 17 ~ SS0.00 ~is e~•ideared by a note ut even date herewith, with intecest f~om date at the ~a1e o~ g~y,gn per centum ( ~ prr unnum on the unpaid dalance untit pa~d. The said pnncipal and intecest shall be pa~•able a! !he o(fice of S~'OCIQ~ON, 1IN~1T~Y, DAVIN i CQ~PJ1t1Y. 100 M~st Bay Street, Jecksonvil2e, P'Lrida ~x at such cther place ac the holder of the note map designate in writing, in monthly~ installments of ONE NU~IDRED SIXT6EN end 88~1(10•-------------••-----• pollars (S 116.88 commencing o0 the first day of September . 19 71 , and on the (irst day oE each month thereafter untiltheprincipa[ and interest are tully paid, except that the final payment of principal and i~tecest, i( not socrne~ paid, shall be due and payable on the iirst day of August~ 2001. ~ And shall dut}•, promptly, and fulty pe~fo~m, disch;~rge, execute, e(fect, complete, and comply with and Abide b~• each and e~•er~• the stiQalations, ag~eeme~ts, conditions, and rovenants of said promissory oote and of this ' mortgage, the~ ihis mortgage and the estate hecPby created shall cease and be null and void. And the mortgagor further corenants as follows: 1- That he will pay the indebtedness,as hereinbefore pro~•ided. Privilege is ~eserved to pay the debt in whole, or ~n an amount equal to one o~ more monthly payments on the principal that are next due on the note, on the [irst da~• of any mo~th prior to maturity: Pr„r~d~•d, however, that written notice of an intention to exercise such pri~itege ~s gi~•en at least thirty (30) days pnor to prepaymeot; and, pro~•ided further, that in the event the debt is patd in [ull prior to maturit~~ and at that timc it is insured under the p~o~•isions o[ the National Housing Act, he will pay to the mortgagee an adjustrd premium charge o[ one per centum (1 0) of the original principal amount thereot, except that in no event shall the adjusted premiuR: exceed the aggregate amount oE premium charges which would have been pa~•able if the mortgage had continued to be insured until mat~~rity; such'payment to be applied b~• the mort- gagee upon its obligation to the Secretary oi Floustng a~d Utban pevelopment on account of moctgage insurance. 1'hat, in order mo~e fuUy to protect the security of this mortgage, the mortgagor, together with, and in addi- tion to, the monthi}• pa~ments under the terms of the note secured hereby, on the first day of each month until the said note is fully paid, wiii pa~~ to the m~ttgagee the [ol~on ing sums: i~ An am«unt sutt~cirnt to pro~•iAe the holder hrreot with [unds to pay the next mortgage insurance premtum th~s instru- ment a~d thr note secured hereby are msured, or a munthly charge (~n tieu ot y mortgag~ insurance prrm~um) ~f ihey are held b~ thr Secretary ot Nous~ng and Urban De~etopmrnt, as [oltows: ~t~ I( end su lung as sa~d note o( errn date and this mstrument are lnsured or are reinsured under the pru~isions ot the Vate~~nal H.~usmg Act, an am~,unt su[hcie~t to accumulate in the hands ot the holder one (1) month pnor to tts due datr the annuai mortgage u~su:ance premium. ~n urder to prov~de such hotder w~th funds to pay suchgrem~um !o the Secre.ary~ ut Housing +nd Urban Qea•elopmeet pursuant to the Nat~onal Hous~ng Act, as amended, and appl~cable Regu- lat~uns ihereunder, or !1I) I( and so tong as said a~.te ~f ecrn date and this ~nstrument arr held by the Secrelary ot Hous~ng and Urban Qevelup- mrn!. a mon:h!>~ charKe ~tn l~eu ut a mortgage insur~nce prem~um) which shall be in an amount equal tu unr-twei[th tl 12> ot or.e-hal( per centutr: of the ave:aKe ,~utstanding ba'ance due on the note computed w~thout tak~ng ~ntu ac: ount delinpuenc~es or prepayments, ~ f~ ~ A sur-~ equal tu the ground rents, any. neci due. plus the prrmiuer.s that will neYt become due and pa~able on policies of fur and uther hatard ~asurance rovertng the morigaged property, plus taYes and assessments ne:t due on the mort- Kaged propert~ (aII as cst~mated by the mortgagee) Iess all sums already paid therefor di~•~ded bv the number o[ months to etapse brfore .,ne n:onth pnor to the date vrhen such grouad reMs, premiums, ta:es, and assessments vc~ll become dc- t~nqurnt. such su.^.-~s t~ he held by r.~vrtKagee ie trust to p~y said ground rents, premiums, ta:es, anAsprciatassessments, and % All vayrr.rnts :r:rn:~oned ?n the tw~. preced~ng subsections uf this paragraph and all payments to be made uncier the nute srcured hrreb~ shall he added together and the aggragate am.wnt the~eof shatl be patQ by the mortgagor each month m a smKtr pa~m.rnt to be applied bi- ihe mortgagee !o the followinq items ~r. the order ~et forth: ptN.TiIUT charges under the contract ot msurance with the Secretary of Hous~ng and Urban Developrient, vr monthly charge ~~n lieu of mortgage ~nsurance ptem~um), as the case may be; Iili ground rents, ta:es, assessments. (ire. and oth~r hunrd insurance prcmiums; tlll~ ~nterrst on the note secured hereby; and (1~'1 an:,~rtizatlon ot the princ~pal ct said note. An}~ def~cienct• m the arnouni of such a~regate monthly payment shall, unless made good by the mortgagor prior to thz due date of the next such pa~-ment, constitute an event of default under this ~r:ortgagc. The mortgagee ma~• collect a"late charge" not to exceed two cents (2Q) fot each dollar (S1) oE each payment mote than fifteen (15) da~•s ~n arrears to co~•er the extra expense im•olved in handling delinquent payments. 3. That if the taal of the payments made by the mortgagor under (bj of peragraph 2 preceding shall exceed the amount of the payments actually made by the mortgagee~ Eo~ ground rents. taxes aod assessments and insur- ance premiur.?.t.as the case may be, such excess at the option of the mortgagee, shall be credited on subsequent prayr.~ents to be made by the mortgagor, or refunded to the mortgagor. If, however, the monthly payments made by the mottgagor under (1~1 of paragraph 2 preceding shali nd be sufficient to pay ground rents, taxes and assess- ments and insurance premiwrs, as the case may be, when the same shall becom:: due and payable, then the mort- gagor shal! pay to the mortgagee any amouat necessary to make up the deficiency, on or before the date when pay- ment aE snch ground rents, taxes, assessments, or insurance premiums shall be due. If at any time the matga- gor shall tender to the mortgagee in accordance with the pcovisions of the note secured hereby. full payment of the entire indebtedness represented thereby, the mortgagee shail, in computirg the amount of such indebtedness, credit to the account of the mortgagor all p~yments made under the provisions of (o) of paragraph 2 hereof whichthe martgagee has not become obligated to pay to the Secretary oE Housing and Urban Development and any balanee remaining in the funds accumulated under the prcwisions of (bJ of said paragraph 2. I( there shatl be a defauft un• der any oE the provisions oE this mortgage, resuttinQ in a public sale of the pcemises covered hereby, or if the mortgagee acquires the pcoperty otheraise aEter default, ihe mortgagee shall appiy, at the time of the commence- ment of such pruceedings or at the time the property is otherwise acquired, the balance then remaining in the funds accumulatod under /L) of paragraph 2 pteceding as a credit against the amount of principal then remaining unpaid under said note and shall propecly adjust any payments whi~h shall have been made under (aJ of said paragraph. . ~~19~ ~0 ~ _ - _ -