The URL can be used to link to this page

Home My WebLink About0193 ~ • ~ • ; t .,ud r.iurtk:~~;u~ due. he~eby [ulh• w•ar~ant tha l~tle tu sa~d la~d, aad r~~er~• patt the~ea~, and w~U defend thc c;~me .~Kumtit tl~r l.~w•ful clp~TS of all pc~suns vehomsce~•e~. PKOVIU~D ALt1'AYS, and these p~escnts are exctiutcd and deti~e~ed upon the totlowing conditions, to wit: The mortg:+guc :+Kcees to pay :fie mortgager, ot ocde~, the principa) sum of S~~sntasn Thousand Ona Hundr~a ~ifcr n0/~W~~~~~~~~~~N~w~Nf~~N~~N~~~N~N~~~~r~~~~N~M~~~~r~~~~~~• Lh~11a~s fS 17~150.00 as e~~idenced by a note oi even a~te he~ewith, with interest (~om date at the c:~te ul pv~p per centum ( ' per ann~m o~ the unpaid balance until pHi.1. T::e ~aid p~inr~pal and interest shall be tayable at the ot[ice of al'OCx'i'~• NW1Z'f~Y• D11VIIt i Cql~II~K~ 100 INst B~pr 8ts'Nt• JacksO~t?vill~. ll~0o~ida ~x at such other place as the hulde~ of the note may designate in w:iting. in monthly ir.stallments of 0~it Nnadred ' Fourtean aad 2Z~100 Dollars (S 114.22 commencing on the first da~• ot JNly/ . 19 71 . and on ~h~ first da.• of each m~~!h thereatter untilthefxincipel and interest are [ul1~• paid, except that the tirtal payment ot principal and intrcrst, it ~?ul su~ii~r~ ~iu; ~«a~i ~,e due and payable on the Eirst day of .ltlZle 2001 . And shall duly, promptly, and fulty Qerform, discharge, execute, efEect. complete, and comply with and abide b~• each and e~•ery the stipulations, agreements, conditions. and co~•enants of said promissory neite and o[ this mortg~+ge, the~ this m~~tgage and the estate hereby created siiall cease and be null and void. And the mortgagor iuriher covenants as fullows~: 1. That he wilt pa~ the indebtedness, as hereinbeto:e provided. Privilege is reserved to pay the debt in whole, or in an amount equal to one or more monthly payment~ on the principal that are next due on the note. on the first dac of ant month prior to maturltp: Pro~~id~d, fiowever,'that arritteR notice of an intention to exercise such ptivilege Ri~•en at least thirt~• (30) days prior to prepayment; and, provideu fu~thec, that io the e~ent the debt is pai~ in full prioc to maturity and at that time it is iosured under the protiisions o( the National Housing Act, he w~lt pay to the mortgagee an adjusted premiu:n charge of one per centua (14'.) o( the original principel amount thereof, except that in no e~•ent shall the adjusted p~emium exceed the aggcegate amount ot premium charges which lvould have been pa~~able if the mortgage had continued to be insured until ~natu~ity; such payment to be applied by the mort- ; gagee upon. its obligation to tl~e Secretary of ~lousing and Urbr:n Development on account of mortgage insurance. ~ 2. That, in order moce fully to protect the security o[ this mortgage. the mortgagor, iogether v?ith. and in adc~i- ti~~n to, the monthly payments under the terms of the note secured hereby, on the first day o( each month until the ~aid nae is fully paid, will pay to the mortgagee the following sums: An .+mount suftioieat to pro~~de the holder hereot with (unds to pay the next mortgage insu~ance premium if this instru- s^rnt and the note secured hereby are i4sured, oar_ • montblY chsree (ip, lieu of • motteoge insufonce premium) i( the~• are ~ hrld bti• the Scrretary o( Housing and Urban Development, as follow~s: . (I1 I( and so long •s said note of even d~le-and this instrumer?t are insured or are reinsured under tne provisio:is o[ thr Natwnai Housing Act, an amouht suf(icieM to ~cnlmulate in the h~ndt of i:~e holder~one (t) month prior fo rts due ; date the annual mortgage insurence premium, in order to prov~de such holder with funds to pay such prem~um to the Secreten• of fiousing and Urban Developmrnt pursuant to the National Hous~ng Act, as amended, and applicable R~gu- ~ lations thereunder, ur (1!) 1t and sa ton~ as said note a( e~~en date and this ?nstrument are held bp the Secretary of Nous~ng and Urban Devr2op- ~ rent, a monthly charge (~n l~eu of a mortgege insurance premiuml ahuh shall be in a~ amount equa! to one-twelfth , ~ (1 121 of une-halt (~I) per centum o( the average outstanding balance due on the note computed without taking ~nto aci ouat deltnquencies or prrpa~mertts, • . A surr. equat to the ~round renta, if aqy, ne:t due, plus the aremtums that will nezt become due and payable on policies o( Gre and other hazard ~nsurance covenng the mortgaged property, plus ta:es and assessments next due on the mort- - ~;agc3 property~ (all as eshmsted b)' the ~yortgagee) less ali sams alreidy paid there[or divided bg the nurt:ber o( months to elapce betore one month prior to the date when such ground rents, premiums, tazes, and assessments vuill become de- i:nyuent, such sur~s tc be held by rnortgagee ~n trust to pay said ground rents, prem~ums, taxes, and special assessments; j ar.d ~ . ~ ~ Aii pa~•ments m.enuoned in the two preced~ng subsecttons of thts paragraph and all pa~ments to be made under the note ~ ( srcurrd herrb~ sha11 be added together and the aggregate amount thereuf shall be paid by the mortgagor each month in a stnKie p.~•ment to be appiied by the mortgagee to the [otioK~ng items in the order set torth: prr:nium cAarges vwdc[ the contract o[ insurance with the Secretary of Nousing and Urban Derelopment, or monthiy charge (in liru o[ mott~q~e +nsur~?ct p~sotwa~ as the casQ roay be; - ~Ill ground rents, taxes, a~~essments, fire, and othec hazard ~c~surance premwms; illl~ ~nterest on the note setttrtd hereb~; aad' . ~ • ~ tl~'1 a~:ortuauon of the princ~pui o[ said note_ An~• deEiciency in the ar.~ount of such aggregate monthly paymer.t shall, unless made good by the mortgagor prior to the due date of the next such payment, constitute an event of defauit under this mortgage. 7'he mortgagee - Ta}• collect a"late charge" not to exceed two cents (2¢) foc each dollar (S1) of each payment more than fitteen (1~) da~•s ~n arrears to cover the extra expense imol~ed in handling delinquent payments. _ _ _ , r~ ' 3_ Ttiat if the total of tbe pey~ents ~de by the mortg,agot.~nder (6j.of,paragraph 2 preceding shail exceed 5 the amo~nt of payments actually m~de by the mortgagee, for ground rents, taxes and assessments and insurance " premium~. as the case may be, soch excess Sirell be ctedited b~i the mortgagee on subsequeitit payments to be made b~• the mortgagor_ If, however, the monthly payments made by the mortgagor under (bJ of paragraph 2 pre- ceding shall not be sufficient to pay ground rents, taxes and assessmants and insurance pcemiums, as the case rna~• be, uhen the same shali become due and payable, then the mortg::gor shall pay to the mortgagee any amourit necessary to make up the deEiciency, on oc beEore the date when payment of such ground rents, taxes, assessments. or insurahce premiums shalt be d~e. If at any time the mortgagor shall tender to the mortg~gee in accordance with : the pro~~isions ot the note secured hereby, ful; Fayment of the entire indebtedness represented thereb; , the mort- ~ gagcE shall, in comput~ng the amount of such indebtedness, credit to the account of the mo~tgagor all payments t made under the provisions of (a) of paragcaph 2 hereof which the mortgagee has not become obligated to payto ~ the Secretary of Housing and Urban Development and any balance remaining in the funds accumutated undet the ; pro.-isions of (GJ of said paragraph 2. tf there shalt be r~ default under any of the provisio~s of this mortgage, re- ; suit~ng ~n a public sale of the premises co~ered iereby, or if the mortgagee acquices the property othecwise after ' default, the mortgagee shall apply, ai the t~me..oE ?he eommeaceaept af sych Qroceedings or at the time the prop- erty ~s otherwise acquired,the balance then'remaining in the ~unds accumulated under (b) of paragraph 2 preceding , as a credit against the amount o[ principal then remaining unpaid under said note and shall Qroperlyadjust any payme~ts which shall have been made under (a) of said paragraph. 4. TF~at he will pay all taxes, assessments, water rates, and othrr governmental or rtsunicipal charges, fines, or impositions, for which pro~~ision has nQt b~n made hereinbefore, and in default thereof the mortgagee may pay • the same; and that he will promptly dpliver the official receipts therefor to the irortgagee. ~ i ~ - 5~~~~ ~ ; f~ - ~ : -