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Home My WebLink About0565 - . ~ ..ud murt~;a~;ur du.~~ hcreb~ fuUt~ ~a~runt the titir tu said land, and r~•rn~ pa~t thenrot, and w~ll delrnd the sarr,e .~Kainst the t:~w•(ul cla~m~ of al: p.;~sons whomsoe~•cr. PRO\~IDtD A4N"AYS. ~nd these presents are executed aRd delivrred upon the tollowing conditions, to wit: ~ The m~rtg~gu~ ~gcrrs to pa~~ the mottgagrr, ot ocde~. the principal sum oI S~7CCeen Thousand Nine l4uadred Fif t~? and N0~100-~N1~~~~~~~~~~~e~~~~r~~4~~~~~~~~~w~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Y~• Doll~+~s iS 16~950•00 as e~~idenced by a note of even date hergwith, v?ith intecest from datr at the rate oi per centum ( ? per annum ot~ the unpaia balance until pa~d. The said princ?pal and intecest shall be payable at the office ot 9'1'OCn'011, Nl1~7$Y • DI~VIN i CpsW1*lY. 100 ~st BaY Stre~t, Ja~cksonville. l~lorida or at such othe~ place as the holde~ of the aote may desig~ate in writing, in monthly installments of Qpe Hundred TWQl~~ aa~ ~9/1VV~~~~N~~w~~~~~~~~~~~~~~~~ Dolla~s ~S 11'j~a1~ commencing Ofl the first day of JYly . 1971 , and on the firct de~~ of each month theceafter until the prir~cip~l and i~terest are full~• paid. except that the tinal payment of p~incipal and intecest, if not sooner paid, shall be due and payable on the first day o[ June 2001 And shall dul~, promptly, and fully pedoim, discharge, axecute; e[fect, complete, and co::~ply wi?_h and abide by each and e~~e~y the stipulations, agreements, conditions, and covenants of said promissory note and ol this murtgage, then this mortgage and the estate he~eby created shall cease arsd be null and void. And the mortgagor furiher covesants as follows: ~ 1• That he will pa~ the iadebtedness, as he~einbe[ore Frot~ided. Privitege is reserved to pa~ the debt :n whole, or in an amount equal to one or more moothly paycaents on the principal that are next due on the no~e. on tbe first - ' day o( an~• month prior to maturit~: Pr~~~ id.•d, however, t7~at written notice of an inteation to exercise such prieilege is gi~•en at least thirty (30) daps prior to prepayment; and. provided [urther. :hat in thr event the debt is paid in full prior to maturit~• and at that time it is insured under the provisions o[ the National Housing Act, he wi11 pa~~ to - the mortgagee an adjusted premium charge of one per centum (1~'0) of the originai principel amount thereot, except that in no eeent shall the adjusted premium exceed the aggregate amount of p~emium chargec which would have~ been pa~•able if the mo~tgage had continued io be insured until maturity; such payment 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 secucity ot this mortgage, the mortgagor, together with, and 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 [ull~• paid, will pa~• to the mortgagee the following=sums: An am~~unt sufficient to provide thE holder hereot with funds to pay the next mortgaee iasurance premium if this instru- ment and the note secured herebp are insu~ed, or a monthl~ charge (in lieu o[ a mortgage insurance premium) if the~ are hrtd by the Secretarr o( Housing and Utban Developmtnt, es follows: tl) tf and so long as sa~d note of even date and ~his instrumeat pre insured or are reinsured unde~ the pmvisions ot the \rtional Housing Art, an amount su([icient to accumulate in the hands of the halder une (1? ~onth prior to its due d.+te the ~nnual mortgage ~nsurance premium. In urder to pro~ ide such hoider w~th funds to pay such premium to the Secretan~ of Huus~ng and Urb++n Developmeat pursuant to the National Housing Act, as amended, and applicable Regu- tat~ons thrrrunder, or ' tll) It and so fong as said notr ut c~•rn date ~nd tn~s mstn~~r.ent sre held bp the Secretary ut Housing and (lrban Devetgp- nent. a monthly charge (~n 1?ru of a mortgage insurance premiuml arhich shall be ~n ~n amount equal to one-twel[th ' (1 12? ot one-hat( (i per centum o( the average outstanding balance due on lhe note computed without taking into accoun! delinyuencies ur prepayments, ?t.~ A sum equal to thr ground rertts, if any, nest d~e, plus the piem~ums that ~~II next become due and pa~able on policies ot f~rr and uther hazard ~nsurance covering the mortgagrd praperty, plus taxes and assessm~nts ne:t due on the mort- guged propert~• (all as rst~mated by the m.rtgagee) less alt sums already paid tfiere[or di~~ded by the number of months . to elapse befom onr cr.onth prior to the date when such ground renis, premiums, taxes, and assessments will become de- ; imquent, such sums to be hrid by mortgagee ?n trust to pay said Qround rents, premiums, tas~s, and apecisl assessme~ts, ~ ~nd i All payments mentioned ?n the two preceding subsect~or.s of lh~s paragr~ph and all payments to be rnade under the note srcured herrbp shall be added together ~nd the aggregate amount thereo( shall be paid by the mortga~or each .aonth ~n a s~nKlr paymrnt to be applied bp the mortgagre io the (ollowmg items tn the order set torth: (I) premium charges under the contract ot insur~nre with the Secretary o[ HoustnQ and Urban Development, or monthty charge (~n lieu of mortgage insurance premium), as the c~se ma~ be; rlI) grou~d reats, taxes, assessments, tire, and othet tazard ~ncurance prem~ums; ~Ill) ~nterest on the note secured hereby; and _ tl\') emuRl28ftuR u( !he pnncipai ot said note. r=•~ ' Anp deficienc~• in the ar~ount oE such aggregate monthry payment shall, unless made good by the mortgagor . pnor to the due date of the next such payment, constitute an event of default under this moitgage. The mortgagee ; may collect a"late charge" not to exceed two ceats (2C) for each ~ollar (Sl) of each payment more than fifteen s ~ 15) da~~s in arrears to co~er the extra expense involved i~ handling delinquent payments. t 3_ That if the total of the payments made by the moKgagor under (6J of pa~agraph 2 preceding shait exceed ' the amuunt of -pa~•ments actualty m3de by the mortgagee, fa ground rents, taxes and assessments and insurance premiums, as the case may be, such excess shall be credited by the mortgagee on s~bsequent payments to be made by the mortgagor. [f, however, the monthly payments ma~e by~ the mottgagor under (b) of paragraph 2 pre- y ceding shall not be sufficient to pay ground rents. taxes and assessm.~nts and insurance premiums, as the case may be, v?hen the same shall become due and payable, then the mortg:.gor shall pa~~ to the mortgagee an~~ amoant necessary to r.iake ap the def iciency, on ot befcxe !he datE when payment of such grouno rents, taxes, assessments. ~ or insurance prem~ums shalt be due. lf at an}• time the mortgagor shall tender to the mortgagee in accordancr with . the proc~sions of the note secured herehy. ful! pa~•ment of the entire ~ndebtedness repcesented there~y, the mo:t- gagee shalt, in corsputing the amount of such indebted~ess, credit to tne acrount of the mor:gagor al! pa~ments made under the pro~•~sims of lu) of paragraph 2 hereot which the mortgagee has not become obligated to payto tbe 5ecretary~ of Nousing nnd Urban Development and any 6alance remaining ~r the funds accumulated unde: the ~ prc;~ ~sio~s oE /f•l of sa~d paragraph 2. If there shall-be a detault under any af the pco~ isio~s of this mortgage, re- sui!ing in a public sale of the pren~ses cosered ierehy, or if the mortgagee acquires the property otherwise aEter ciefault, the mortgaeee sZ~all apply~, at the time of the commencenent of such ptoceed~ngs or at the t~me the prop- eri~• ts otherv? ~se acqu~red, the bala:?ce then ~emaining in the tunds accumulated undec (61 of psragraph 2 preceding as a credi j tF.e amoynt of principal then rema~ning unpa~d unde! said note xnd shatl properlyadjust any payments a~~all ha~~e been made under f~) of said paragraph. - 4. That he Ki!! pay all tazes, assessments, water rates. and other go~~ecnmental or municipal charges, (ines, ur ~mposit~ons, fpr which procis~on has not been made hereinbefore, and in default thereoE the mortgagee ma~ pay the same; and that he will promptit~ delive~ the otficial receipts therefor to the mortgagee. ~ P~1~3- . .565 - ~ - -