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Home My WebLink About2445 , ~aid m~xtga~;or does hrreby fully warrant the titlc to sa~d land, and every patt thereut, and will defend the same .+ga~nst the lawful claims of a!I {xrswis whomsoeve~. - PROVIDED ALWAYS. and these presents a~e exrcutcd a~d delive~ed upon the tollowing conditions. to wit: The mortgagor agrees to pay the m~xtgagee, or ocde~. the principal sum of NINSTEBN THOUSAND ON~ HUNDRED and 00~100•---------•--------------••---•-----•------••••----------•--•- ~ Dollars (519~100.00 as evidenced bv a note ot eve~ date herewith, with interest (com date at the rate ot ~v~ pec centum ( 7 '16) per annum on the unpaid balance ~ uatil peid. The said principal and ioterest shall be payable at the o(tice of 8'POCICP~1. NW?Ti~t. Ol?VIN i COls~11t1Y. 100 ~1~st Bny StrNt, Jackaonville. lLrida or at such other place as the holder of the note may designate in writing, in monthly installments of ONE HUNDRED '1tiiENTY•SEVEN and 21~Z00-----------•------ Dollars (S 121.21 commencing o0 the first day ot September . 19 71 , and on the fi~st day of each month thereafter until the principal and interest are fully paid. except that the final payment of principal and interest, if not sooner paid. shall be due and payable on the Eicst day of August~ 2001. : And shall duly, promptly, and fully perform, discharge, execute, etfect. complete, a~d comply with a~d abide b~~ each and every the stipulations, ag~eements, conditions, and covenants of said promissory note a~d of this mortgage, the~ this mortgage and the estate hereby created shall cease and be ~ull and void. And the mortgagor [urther covenants as follows: l. That he will pay the indebtedness.as hereinbefore provided. Privilege is reserved to pay the debt in whote, or ~n an amount equal to one oc moce monthly payments on the principal that are next due on the note. on the first day of any month prior to matu~ity: Prui•ided, however, that written notice of an intention to exercise such privilege is given at least thirty (30) days prior to o~epa~~ment; and, provided Eu~ther, that in the event the ~ebt is paid in full prior to maturity and at that time it is insured under the provisions of the Natio~al Nousing Act, he will pay to the mortgagee an adiusted Premium charge of one pe~ centum (196) of the original principel amount thereot, excrt! that in ~o e~•ent shall the adjusted premium exceed the aggcegate amount of premium charges which would have been payable if the mortgage had continued to be insured until maturity; such paycaent to be applied by the mort- gagee upon its obligation to the Secretary of Housing and Urban Development on account of modgage insurance_ 2. That, in order more fully to protect the security of this mortgage, the mortgagor, together with, a~d 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 fully paid, will pay to the mortgagee the tollowing sums: r.i? An amount suf(~cient lo pro~•ide the holder hereo( wrilh tunds to pay the ne=t mortgo¢e ~nsurance preauum ~t th~s jnctru- ment and Ihe note secured hereby are insured, or • monthly charge (~n Iteu o( a mortgage insurrnce premium) if they are heid by the Secretary o[ Housing and Urban Development, as toliows: (il It and so long as sa?d note of cven date and this instrument are insured or are rcinsured under the provisions o( the lauonal Nou~~ng Act, an amount sut[~clent to accumulate in the hands of the holder one (l) month prior to its due : date the annual mortgage insurance prem~um, m i•rdet to pruv~de such holder w~th [uads to pay suchpremwm to the ; Secretary of Housing and Urban Developmml pursuant to the National llousing Act, as amraded, and applicable Regu- tau.~ns thereunder, or t11) 1t and so long as said note ot even date and this ~nstrument are held by the Secretary ot Housing and Urban Develop- ment, a monthlp charge (tn lieu o( a mortgage ~nsura~ce prem~uml wh~ch sha!! be ~n an ~mount equol to one-tweltth (1 12) ot one-half ~`y) per centum c,f the average outstanding balance due on the note cumputed wtthout tating ~nto account delinquenc~es or ptepayments; - - a~+ A sum equal to the ground rents, it aay, next due, plus the prrmiums that wrill ne:t become due and payable on policies of (ue dnd ~ther h~zard insuraace covering the mortgaged p~operty, plus ta:es and assessments ne:t due on the mort- gaged property (all as est~mated by thc r.:ortve¢ee) less all sums already paid there(or di~•tded by the number of months i to elapse be(ore one munth prior to the date wrhen such ground reat~, premiun~s, taxes, •nd •ssessments will become de- ~ I~nquent, such sums to be he(d by mortgagee ~n trust lo pay sa~d gtcund rents, prem~ums, taxes, andspecialassessments; and E ~r? Ail Qaymenis mrntioned tn the two preceding subsections o( th~s paragraph and all payments to be made under thr nute ~ secured hereby shail be added together and the aggregate am~unt thereo( shall be pa~d by the mortgagor each month ~n a s~ngle p+yment to be applied by the mortgagee to lhe [ollow?nq items in the order set forth: prem~um charges under the contract o[ insurance with tM Secrclary ot Kous~ng and Urban Development, or monthly chargr (~n lieu ot mortgage insutance premium), as the case may be; ill) ground rents, taxes, assessments. f~re, and other hazard insursnce premiums; ~ (111) ~nterest un the note secured hereby; and i QI~') aa:ortizaLOn of the principal o( said note_ ~ An}• deficiency in the ar~ount of such aggregate monthly payment shall, unless made good by the mortgagor prior to the due date of the next such pay=ment, constitute an event of default under this mortgage. The mottgagee ma~~ collect a"late charge" not to exceed two cents (2~) for each dollar (Sl) of each payment more than [ifteen (15) days in arrears to co~~er the extra expense involved in handling delinquent payments_ ~ 3. That if the tdal of the peyments made by the mortgagor under (bJ ot paragraph 2 precedi~ shatl exceed the amourrt 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 of the moctgagee, shall be credited on subsequent ~ payme~ts to be made by the mortgagor. or refunded to the mortgagor. if, however. the monthly pa~merrts made by ~ the mortgagor under /6/ of peragraph 2 preceding shall not be sufficient to pey g~ound rents, taxes and assess- ~ ments and »urance pcemiums, as the case may be, when the same shaU become due and payable~ then the mort- ~ g~gor shall pey to the mortgagee any amuuM necessary to make up the deficiency. on or before tbe date when pey 4 ment d such ground rents, taxes, assessments~ or insurance premiums shall be due. If at any time the matga- ~ gor sball tender to the mo~tgagee in accordance with the provisions of the note secured hereby. full peyment of the ~ entire indebtedness represented thereby, the mortgagee shall, in computirg Ihe amount of such indebtedness, ~ credit to the account af the martgagor all payments made under the ptovisions of (aJ ot para6raph 2 hereo( whichthe ~ mortgagee has not become oblagated to pr+y to the Secretary of Nousing and Urban Development and any balance ~ rema~ning in the funds accumulated u~der the provisio~s of (h) of said paragraph 2. It there shali be a default an- ~ der any of the provisions of this mortgage, resultinR in a public sale of the premises covered hereby, a if the ~ mortgagee acquires the pcoperty otherwise after default. the mortgagee shall apply, at the time ot the commence- . ~ ment d such proceedings o~ at the time the property is othe~vvise acquired, the balance then remaining in the funds ~ accumulated under /b) of perragraph 2 pceceding as a credit against th~ amount af principal then remaining unpuid ~ under said note and shail properiy adjust any payments which shall have been made under (u) of said peragraph. , ~ Y~ ~ . o ~ 1~ ~44 - eooK ~ ~ ~ , - ~ vF. - . ; ~ ' . -