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Home My WebLink About2988 said mortgugoc does he~eby fully vea«ant the title to sa~d lend, and every part thereof, and w~ll defend the seme ~ d~a~nst the lav?ful claims oE all persons whomsoever. } # PROVlDED ALIA'Al'S, and these pcesents a~e execu:ed and delivered upoe the •~ltowing conditions, to wit: ~ The mortgaQoc agrees to pay the mortgegee, or ocde~, the principal sum of EIGHTEEh TNWSAND SEVEN ! HUNDRED and 00~100•---••---------•------------•----•-------------•------------ ~ Dollars (S 18~ T00.00 as evidenced by a note ot even date herewith, with interest from date at the rete ot pec centum ( 7 9G) per artnum on the unpaid baia~ce until paid. The seid principal and intecest shall be payeble at the oftice ot ~ J1~OC1Q~i. Nfi~?~BY • DA~A~1 i C'~11t~iY, l0e ~Mst Bay S't=ML. Jacksoavilla. A+~ida or at such other place as the holder of the ~ote may designate in wciting, in mo~thly installments of ONB HU[~DRED TiJENTY•FUUR and 54~100•---------•------ Dollars (S 124.54 coma~encing on the first day of October . 19 71 . and on the first day of each mo~th the~eafter untiltheprincipal and interest are fullp paid, except that the final payment of pcincipal and interest, if not sooner paid, shall be due and peyable on the first dey ot Septec~ber~ 2001. And shall duly, p~omptly, and full~• pedocm, discharge. execute, effect, complete. and comply with ond obide by each and every the stipulations, agreements, conditions, and covenants of seid pror.~issory note and of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void. And the mortgago~ turthec covenants as follows: 1. That he wil! pay the indebtedness, as hereinbefore pro~ ided. Privilege is reserved to pay the debt in whole, or ~n an amount equal to one or mae monthly p~yments on the principal that are next due on the note. on the first day of any month prior to matucity: P.o~ id~d, however, that written aotice oi en intention to exercise such privilege ~s gi~•en at least thirty (30) da~s prior to pre~ayment; and. provided turiher, that in the event the debt is paid in full prior to matucit~~ and at that time it is insured under the provisions of the Nationel Housing Act, fie will pay to the mortgagee an adjusted premium charge of one per centum (1',~) of the orig:nal principal amount thereof, except that in no event shail the adjusted premium exceed the egg~egate amount of premium charges which wou;d have been payable if the mortgage had continued to be insured until maturity; such payment to be applied by the mort- gagee upon its obligation to the Secretery of Housing end Urban Development on account of modgege insurance. 2. That, ~n ocder more tuliy to protect the security of this mortgage, the mort~egor, together with. and in addi- tion to, the monthl~~ pa~ments 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 follovving sums: ~r ~ An ar.:ount suft~clent to provtde the holder hereot with tunds to p~y the next mort~a~e tinsur~nce prem?um i[ this instcu- ment and the note secured hereby are insured, or • moalhly char~e (i~ lieu ot a mortQ~ee insur~nce premium) it they •re hrld b~• the Secretary of Housine and Urban Development, •s [ollows: (I~ If-and sn loa~ •s s~id note o[ even dat~ and this instrument ~K ia~und or aro re~nsured unde~ the pwvislons o( the \ational ~Housin¢ Act. •n amount suttic~ent to •ccumulate ie the hands of the hoider one (11 month prior to its due late the annual mort~aQe insur~nce premtum. in ordez :o provide such holder writh funds to pay such premium to lhe Secretary of HouslnQ and Urban Development pursuant to the N~tio~al HousinQ Act, as •meaded, ~od ~pplicable Reeu- lottons thereunder, or t11~ If ynd so long as s~id note ot even dste and this ~nstrument are held by the Secret~ry o[ HoustnQ aad Urban Develop- , :::ent, a~onthiy charge (in licu ot a mortQaee insurance premium) which sha11 be in an ~mount equal to one-twel(th il 121 oE or.e-hal[ (~5) per centum o[ the averaee outsta~dine b~lance due on the notc computed without taktn~ into , accoun: delinquenc~es or prepayments; r~ sum equat to the ~round rents, it anr, ne=t duc, plus the premiums that ~ritt ne:t become due ~nd p~yabie on policies of f?:e and other hszard insurance coverin~ the mort~~eeA property, plus ta=es and •ssessmcnta next due on the mort- gaged propert~ (ali as est~mattd by the mort~aQee) less ait sums already paid therefor div'tded by the number of months to eIwpse be[ore one month pnor to the date whe~ such Qround rents, premiums, t~xes, •nd assessmeets wiil Eecome de- i~nq:,ent, such su~s to be held by mortQaQee in trust to pay sald ~rou~d cents, premtums, taxet, ~odspecialassessments; i and ~ - All p+yraeats mentioned ?n the two precedin~ subsections o[ th:s p~r~~raph and •11 payments to be made under the note secured herrb~ sh~ll be adder toQether ~nd the aQ¢re~ate amount thereof shail be p~id by the mort~~~or e~cA m~nth ~n a singie payrt:ent to be appl~ed by the mortea~ee to the tcltowinQ items in the o?der set forth: !11 premiur.~ charQes under the contract ot ?nsur~nce w~th the Secretary o[ Howine ar_d Urban Dcvelopmeat, or monthly charge (~n lieu of mott¢~Qe insur~nce prenium), as tht case m~y be; 1II) g~ound rents, tases, •ssessments. [irt, and ot6er h~z~rd insurance prtmium~; ~lll) interest on the note secured hereby; ~nd {IV) aR:ort~zat~on ot the principal o[ said note. An~• deficiency in the ar.sount of such aggregate monthly payment shall, unless made good by the mortgagor pnor to the due date ot the next such poyment, const~tute an event oE deEault under this mortgege. The mortgagee Tap collect a"late charge" not to exceed tw~ cents (2a) for each dollar (S1) oE each payment moce than Eifteen ~15) days ?n arrears to covec the extra expense involved in handling delinquent payments. 3. That if the total of the peyments made by the mort~sgor uader (61 of para~aph 2 preceding shall exceed the amount of payments actually made by the matgegee. foc ~tound teats, taxes and assessments and insurance premiums, as the case may be, such excess shall be credited by the moctgagee on subsequent payments to be made by the mortgagor. lf, however, the monthly payments made by the moctgagor under (b) of paragraph 2 pre- - ceding shall not be sufficient to pay ground rents, taxes and assessm.~nts and insucance premiums, as the case ~ may be, when the same shall become due and payable. then the moctg~gor shali pay tv the mortgagee any amou~t ~ necessary to make up the deficiency, on a beEae the date when payment of such ground rents, toxes, assessments. ~ or insurance premiums shell be due. If at any time the mortgagoc sha'.1 tender to the r~ortgagee in accordence wi!h ~ the provisions flf the note secured hereby, full peyment of the entire indebtedness represented thereby, the mort- ~ gagee shall, in co:nputing the amount oE such indebtedness, crrdit to the account of the mortgagor all peyments ~ made under the provisions oE (al of paragreph 2 hereof which the moctgegee has not become obligate.i to payto ° the Secretarp oE Housing and Urban Development and any balance remaining in the funds accumulated under the ? pro~•~sions of /b1 of said paragraph 2. If thece shell be e default under any of the pcovisio~s of this mortgage, re- ~ sultin in a ubl~c saie of the remises covered iereb or iE the mort a ee ac uires the co rt otherv~ise after ~ g P P Y. B B 9 P Pe Y ~ default, the mortgagee shall apply, at the time of ttu commencement of such proceedings or at the time the prop- erty is otherwise acq::ired, the balance then remaining :n the funds acrumulated undec (bJ of pacagceph 2 preceding ~ as a ccedit against the amount of principal then rer.iaining unpaid under said note and shall propetlyedjust any ~ payments which shalt heve been mede undec (u) of said paragraph. ~ 4. TFat he will pay all taxes, assessments, water rates, and othet governmental or municipal charges, fines, or irr~positions, for which prov~sion has not been made hereinbefore, and in default thereot the mortgagee may pay ' ~ the same; and that he will promptly deliver the otficial ceceipts therefoc to the mortgagee. ~ . ~ . ~ a~~ 194 2~9~6 ~ F. A . ~