The URL can be used to link to this page

Home My WebLink About2817 r ~ .:~id murlK:+~ur d.x•s hereb~• full>• Warr:int ihc~ t~tle to ~aid I.ind, and e~~•rry p:~rt thc rro(, and will deirnd ihe s.~mN .~Kain~t the lawful claim~ uf all per~cx~~ w•humsoe~~et. PROVIDEi~ ALNAYS, and these pr••sE•nts are exeruted and de1i~•crcd upon the following cunditions, to wit: The mortgagu~ a~rees to pay the mortg:igee, or otder, thc principal ~um of EIGHTEEN THOUSAND SEVE[3 l~UNDRED and 00~100---------------------------•------------------------------------ [k~llars (S 18~~00.00 as evidenccd by a nute ot e~~en date herew~th, w~th interest f~um date at the ?ate oi ~v~ per centum ( 7 0) pe~ annum on the unpaid balance until paid. The said pnncipal and i~terest shall be payable at the oftice of STOCIQ'a#, MHJ?TI~`~•, DArIt~ i C~11NY, l0A S~i~tt Bay Stxeet, Jacksonv:.lle. !"3~rida or at such other place as the nolder of the r~ute may designate in W ~iting, in monthly installments o( ONF HU!'1[~RED T~iENTY-FOUR and 54~100------------= Dullars (s124.54 commencing on the first da~• of SeptembeY . 1971 , and on tne tirst day ot each month thereafte~ untittheprincipal and interest are full}• paid, except that the final paymenl of principal and interest, if not sooner paid, shall be due and pa~able or~ the first day of Au Ru~t~ 200! ' And shatl duly, promptl~, and'fu 1~• perform, discharge, execute, ef[ect, complete, and comply with and abide h~• each and e~~er~• the stipulations, agreements, conditions, and covenants of said promissory note and of this mort~age, then this mortgage and the estate hereb~• c~eated shall cease and be r.ull and void. And the mortgagor further co~•enants as follow•s: 1- That he urill pay the indebtedness, as hereinbetore pro~ided. Privilege is re~erved to pay the debt in whole, or in an amount equal to one or more monthlt~ payments on thc principal that are next due on the note, on the first d.~~ .~f ~+n~• month prior to maturity: I'r~~~ ~d.•d, hoWe~•er, that Kritten notice of an intention to exercise such p~irilege is Ki~•en at least thirh• (30) da~•s prior to p~ep:~yment; and, proeided further, that in the event the debt is paid in {ull prior to maturit~• :~nd at that time it is ~nsured under the prorisions of lhe National 1lousing Act, he will pay to the mortgagee an adjusted premium ch~rge of one per centum (1 of the original principal amount thereof, except that ~n no e~-ent shall the :~djusted premium exceed the aggregate :+mount of premium charges vehich would have been pa}abte if the mortgage had continued to be insurecl until maturity; such payment to be applied by the mort- gdgee upun its obligation to the Secretary of }lousing and Urban Development on account oi mortgage insurance. That, in order more fully to protect the security of this mortgage, the mortgagor, together with, and in addi- tiun to, the monthl~~ pa~•ments under the terms of the note secured hereby. on the first day of each mon2h until the said note is full~• paid, will pa~• to the mortgagee the folloveing sums: : Aa am~runt suff~c~ent to pro~•ide the holder he~eo[ w~th tunds to pay the ne:t mortgage insur~nce premium if th~s ~nstru- mrnt andihe note secured hereby are msured, or a munthly charge (~n I~eu o[ a mortgage tnsurance prrm~um) ~f they are hrld b~ the Secretar~ of Housin~ and Urban Dr~•elopment. as (oUow's: ~i~ If and vn (onK a~ said note of ea•rn dale and thts instrument are ~nsured or are reinsurcd uader ih~ prcris~ons of the \ational Hou~~ng Art, an am.,unt sufA.t~•nt tu accum~latr in the hands ot the holder one (1) month prior to tts due date the annual ^~ortgage msurencr premwm, in order tu pruv~de such huldrr nlth (unds to pa~• suchpremium to the Secretary~ u( Huus~nK and Urban Drcelupment pursuant te thr Nat~on+! Houc~ng Act. as amrnded, and appl~iable Regu- ~ iaU.~n~ therrunder, or •1If (f and ~o I~~ng a. :eti n::tr _•f rcrn datr and this in~trurent arr he1S by thr Secretary o[ Ilnus~ng and Urban Decelop- ~nent. a^:~~nthtc .harKe (~n l~ru ~~f a mortgagt• ~nsurance premium~ which sF.alt br ~n an amuunt equal tu une-tweltlh ' ~ 1 1'~ oF ~~nr-half t` per crntum o( thr a~rraKe .,utstand~ng t,al+nre due :.n the nute cumputed vc~thuut t~k?ng ?n:o ari~~unt del~nyuenc~rs or prrpa~ments, A~;,.- r:,ua; t_ '::c- ti-= ;:nc! ee.^.ts, i[ aa~. next due. E,lus thr prrr+~um~ that w~il next become due and g+y~ble on policies ~f f~re and .~thrr hazard ?nsurancr covenng the r.:ortgagrd pruperty, plus taxes and assessments next due on the mort- ~;eKrd pt.~prrtc tall as r.t~raated bc the raurtgageel less all eur..s alrrad~• pa~d there[or dic~ded by thr number uf munths tr ei:+p.r t.r(.~rr .~r.r mvnth prtor t~~ the datr when such Kn~und rrnfc. :axes, and assess.^.:ents w~(1 become de- l~nyue~nc. ~u.h sur..~ to hr hrld 1:~ ^.~~ttkaK[`e ~n trust to pa~• sa~d ground rrnts, prem~ums, taxes. andspecialassessments, i and 4 Alt pa~r..rnts menttuni•d ~n the tw~o prerrdinK sub~rcunns of this prregraph and all paymrnts to be made under thr nute ` ~e~urcd herrbs +ha1i be added to~;rther ~nd the a~;K?eRatr amvunt thereof shall br pa~d D~ the murtgaKur each mr~nth ~n a ~ s~nKlt• yay~n:ent to be applied b~ the T~.:~rt~a~;rc• Shr (.•Iiuw~inK itrms ~n the urder set forth: ~ ~.1) pr.-m~um ~-harges under thr cuntrart u( insuran.-~• w~th the Secret+ry o( Nousing and Urban Decelopment, ur monthly ~ . harge (in .~eu of .^.~..~rt~{a~;i• m~uraa~ r prer..iu^:), ac the ca~e may be, ~ :11~ ~;round rents, taxes, assrss~..-ntc. (ire. and uther hazard ~nsurance prem~ums; ~IIIi ~ntrre.t •~n ihe n.~tr .ecurrd he•rrbti. and !Il"? o^..,rt~[wh,m ,•f :hE~ prsn. apal i~t :eid n~.te ~1n~~ defic~encc ?n thr ar:uunt of ~uch :+~rc~Kate monthh~ pa~~ment shall, unless made gcwd b} the mortgagor an.>r tn tne due date of the next such pa~ment. const~tute an e~~ent of de(ault under this mort~aRe_ The mortgagee ^~a~~ ce!lect a"late char~e" not te exce~d iw•o cents (2Q) for each dollar (S1) of each pa~ment more than E~fteen ~ (1~1 d:+~~ m ar~ear~ to co~~er the extra expe~se im~ol~•e~d in handling delinquent papments. ~ 3. That i( the total c;f the ~+~ments made by the mortgagor under (h) of paragraph 2 preceding shal) exceed ~ the amount of the pa~~r.fents actuall~- made b~~ the mortgagee. for ~round re-ts, taxes and assessments and ir~sur- ~ ance ~xemiu^~s,as the case m~p be. such excess at the opt~on o! the mortgagee, shall be ctedited on subsequent c pc~~ments to br made by the mortgagor, or refunded to the mortgagor. If. hortiever, the monthl}- payments made by ~ ihe mottKagor under /j>> of paraRraph 2 preceding shall not be su[ficient to pa}• ground rents, taxes and assess- y ments and ~nsurance prem~ums, at the case may be, when the same shall become due and payable. then the mort- ~ Kagur shall pay to the murigagee anp amount necessary to make up the deficiency, on or befo~e thr date when pap- ment of such ground rents, taxes, assessments. or insurance prem~ums shall be due. I( at aoy time the matga- ~ ~ gor shall tender to the mortgagee ~n accordance with the pro~•~sions of the note secured hereby, full payment oF the ~ e~tire indebtedness cepresented thereby, the mortgagee shall, in comput~rg the amount of such ~ndebtedness. ~ cred~t to the account of the mortgagor all payments made under the provis~ons of (Q 1 of para6raph 2 hereo( wh~chthe ~ ~ mwtRagee h~~ r~t become obl~gated to pay to the Secretary of Nous~ng and Urban Develop~ent and an~ balance ~ema~n~ng in the funds accumulated under the procisions of (ti/ of said paragraph 2. lf thece shall be a default un- ~ der any of the provis~ons of this mortgage, resultinR ~n a public sale of the premises co~~eted hereby, a if the ~ rtwrtgagee acquires the propertY otherwise atte~ default, the moctgagee shall apply, at the time of the commence- ment o( such proc-eed~nqs or at the t?me the proPerty is otherw~se acquited, the baiance then remaining in the funds ~ accumulated u~der %i.i of petagraph 2 preceding as a credit against the amounf of ptincipat Ihen rema~ning unpa~d ~ under sa~d note and shall ptoperl~• adjust any payments which shall have been made under /u?of said paragraph. ~ ~ R - . ~ 194 28i5 ~ ~ : ~ _ - - -