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Home My WebLink About2664 i • . • . s.ud murt~;.~~;.,r d~k•. hrreb~~ (ull~• w•an.~nt thr htlr tu s;~id land, and e~•ery pdrt thereof, and w~ll defrnd the same .~g.unst the l:~w•(ul rlaims u( all pc~sons whomsce~•c~. PROVID~D ALN'Al'S, and these presents a~e executrcl and delivered upoo the (ollowing co~dilioos, to wit: - Thr mu~tgagor ugrees to pay the mortgagc~e, or order, t!?e principal sum o( NINETEEN THOUSAND 0[dB :NNDR~D aAd ~~/1~~~~~~~~~~~~~.~~~~~~~~~~~~~•~~~~~~~w~.~..~~~~~.~~~~~~~~~r~~~•~~~~~~ Uollars (S 19~ 100.00 as eti•idenced by a note oE even date herewith, with interest from date at the ~ r~+te oi Sati?~1 pe~ centum ( 7 per annum on the unpaid balance . until p:~id. The said p~incipat and interest shall be pa~•able at the otfice of 8'1'OC~1'Qi• Mml'P~Y. DA~1 i C~11NY, l0e Nest Hay Stxwet. JaCk~O~DVill,e. l~'1~rida . or at such othe~ place as the holder of the note may designate in writi~g, in manthly installments of ONE HUNDRED TWEN1`Y~SEVEAi and 21~100----•-•----•---'~"'~ollars (S127.21 comn~encing on the first da~• of September . 1971 , and on the tirst day ot each month thereatter untilthepri~cipal and interest are iully paid, except that the final payme~t of principal and interest, if ~ot sooner paid, shall be due :ind Qa~•able cu~ the first day of august~ 2001. .':r..; ~hall d~ly, promptl~, and futly perform, discharge, execute, effect. complete, and comply with and abide b~~ each and e• err the stipulations, agreements, conditions, and co~enants of said promissory note and of this mortgage, then th~s mortgage and the estate heceby~ created shall cease and be null and void. ; r\nd the mortgagor further co~•enants as foUows: ' 1 l. That he will pa~• the indebtedness, as hereinbefore provided. Privilege is reserved to pay the debt in whole. - u~ in an amount equal to one or more monthly payments on the pci~cipal that are next due on the note, on the first j d:+~~ of am• month prior to maturity: P.~~~ i~t~•~?, however, that written notice of an intention to exe~cise such privilege is gi~•rn at least thirty (30) da~•s prior to pre~a~•ment; and, provided furthec~ that in the event the debt is paid in full prior to maturity and at that t~me it is insured under the pio~ isions of the National Housing Act, he w ill pay to the mortg:,gee an adjusted premium charge of one per centum (1%) of the otiginal principel amount thereof, except that in no e~•ent shall the :~djusted premium exceed the aggregate amodnt of premium charges which would have been pa~•abie if th~ mortgage had continued to be insured until maturity; such paytoent to De applied by the mort- gagee upon its obligation to the Secretary of Housing and Urban Developmenl oo account of modgage insur. •cr. 2. That, ~n urder more fully to protect the security of this mortgage, the mortgagoc, together with, and in addi- t~~,n to, the monthty payments under the terms of the note secured hereby, on the_fitst day at each month until the sa~d nute is tully paid, will pa~ to the mortgagee the following sumc:: ~ An ac:.,unt sut(~cwnt to provide the holder hereof w~th [unds to pay the next mort~age u?suraoce premtum i[ th~s tnstru- mr~; and the note secured hereby are ~nsured, or a munthi}• charge (in lieu o[ a mortgage insurance prem~um) if they i~e hrld b~ the Serreur~ of Housing and Urban Aevelopment, as foltows; ~ 1~ IE end so l~ng as said note o( even date and this instrument are ~asured or are re?esured under the provisions of the ; \..t~onal Hous~ng Act. rn amuunt su(f~nent to accumulate in the hands ot the holder oae (1) month pnor to its due ~ .i~tr the annual mortgage msurance prrm~um, in order to provtde such holdrt wtth [unds to pay suchpremwm to the ~~-r-retan• uf f1~us~ng and Urb~n Drvelopment pursuant to the Nationai Housing Act, as amended, and applicable Reeu- ~ ~ .,tivns thrmunder, or ~ ~.nd :o long as said no:e o( rrrn date and th~s tnstrument are hrld by the Secretary u[ Housing and Urban Develop- ...c. e ronthl}• charKr (~n t~eu of a mortgage insurance premturil which shati be ~n an amount equal to one-twel[th ~ ~f one-half t~:) per centum o( tAe average outstand~ng bal~nce due on the note computed without takin~ into ~ :i~-linqurnc~es or prrpayments, + . i,• thc~ Kround rrnts. ~f anp. next due, plus the prer.iiums that will ne:t become due and papablc on pol~cies ..•~:_~z hersrd insurancr covering the r.:origaged property, plus ta:es and assessments ne~t due on the mort- . .•11 ..s rstimated by the mort6agee) less all sums already paid there(or divided by the number of months I • n~~ r:~nth nnor to the date when such ground rents, premiums, uxrs. and assessments will become de- h-._ r;: hr heid by mortgagee ~n trust to pay ssid ground rents, premiums, taxe~, andspecialassesaments; , thr tu•o prereding subsections of this paragraph and ali paymen[s to be made u~der the note . . ,~,~~~•d togrther and the aggregate amount thereof sha(1 be paid by the cr.ortga~ur eath month i~ a . ,::~rd b}~ the mortgagee to the [ollowmg items in the order set forth: . :..r,•. + th~• . ~ntract ot insurance with the Secretary o( Hons~ag a~d Urban Decelopment, or munthly :c ::~~u . rr~aRr ~nsurance premium), as the cast ma~ bt; ,ti rc:~t.. :ox~,, ...ars~:r.rnts, 6re. ~nd ~ther hazatd ~~sutance prem?ums; 'I11 i:~:~ rr~: .-n thr ~i ir -.,rr' hrreb~': and ~I\': . r! i:..t: r. ....c . sE:.+: uf S..id note. An~ e?e•t~~. ~erc. ~n !~;e n:-.~,unt «t ~ach a~regate monthl~ payment shall, uniess made good by the mortgagor pnur to t;:~• dur ri thc• n~•r; such pacr.~ent, consUtute an event of default under this mortgage. The mortgagee ma~• collect c;~:~rze~ ' n.,t t~ exceed twu cents (2Q) Eor each dollar (S1) ot each payment moce than fiEteen (15) dacs tn arte•.,t~ r„ ~-otrr thc• c•x:r~ ~•~pensc ~m•olt•ed in handling delinquent payments. 3. That if thc~ cv;~,: :~i ~::c ,~.~;m~rnts ;:ade by the moctgagor under (6) of parograph 2 preceding shell exceed the arnount uf pa~r::e~n?~ :~~'::,~?~y r~~dr b~ the murtgagee, for gcound reats, taxes and assessments and insurance prem~ums. as the case rr,.+: 'tx•. :~uch c•xrc•ss shall be credited by the mortgagee on subsequent payments to be - made b}• the mortgagor. If. ~.~w~~•~~•r. the~ •-~~nth1~• payments made b}• the mortgagor undec (61 oi paragtaph 2 pre- ~ ceding shall nat be sut[icit•nt to p.~•. r;~~u~d rents, taxes and assessm~rnts and insurance premiums, as the case ; may be, wher. the same shail br<-~•m•• dae and payable, then the mortgsgor shall pay to the mortgagee any amount necessar}~ to make up the defic~enc•:. ~~n uc before the date when payment of such ground rents, taxes,~ssessments, ~ or insurance prem~ums shall be due. If at an~~ time the mortgagor shall tender to the mortgagee in accordance r~ith ? the pro~-isions of the note secured hereby, full payment o[ the entire indebtedness represented thereby, the mort- gagee shall, irc computing the amount of such indebtedness, credit to the account o[ the mortgagor atl payments made un•~er the provisions of /u) of paragraph 2 hereof which the mortgagee has not become obligated to payto tbe Secretar}• of Housing and Urban Development and any balance remaining in the funds accumulated under the pro~~~sions of (f~) of sa~d paragraph 2. If there shall be a default under any of the provisio~s of this mortgage, re- sulting ~n a public sale of the premises covered ~ereby, or if the mortgagee acquires the property othecwise a[ter defau(t, the mortgagee shatl apply, at the time of the commencement of such proceedings or at the time the prop- ertt• ~s otherwise acquired, the balance then remaining in the fun~s accumulated under (h) of paragraph 2 preceding as a credit against the amount oi principal then remaining unpaid under said note and shall properlyadjust any ~ payments which shall have been made under (u) ot said paragraph. ~ , 4_ ~'hat he will pay all taxes, assessments, water rates, and other go~~ernmental or municipal charges, fines, ~ or ~mpositions, for vrhich provision has not been made hereinbefwe, and in default the~eof the mortgagee may pay ; the same; and that he will pcomptl~• deli~er the e"icial receipts thecefor to the mortgagee. ~ F Y ~ a ~ ' °fla i94 63 - ~ ~ ~ ~ .x z~ ~ ~ ~ ~ _ _