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Home My WebLink About0738 . .aid muct~;.~~;u~ d.,r~ hemt~~~ lulh w.~cr.~ni the• t~ttr w s:~id l:+nd. and•tvr~v purt ther~u(. and w~li del~•nd the s:~mN ..~;,un~t Ih~~ I:+~iul cla?ms ui ali pct~uns w~hum~oe~•er. P120\'IUF:U AI.N'AYS, and thes~ presents .ue executcd and ~3e1~~•eced upon the foUowing condit~ons, tu wit: 1'hi• mortg:~gu~ aKeces to pay the muctg:igec , u~ o~der, thc• princip~l sum et SIXT66'N THOUSANO ZWO 1iUN[)RED AND NO/10~ l~.~lt:~rc lS 16,200.OQ as et•tdenced by a note o( even d.+te herrveith, weth interest frum datr at the rate uf l~V~A per centum ( 7 0) per annum on the unpa~a balan~e unt~l paid. The said pr~ncip:?1 and intert•st shall be pa~•abie at the otfice of STOC1lT~~1, MHATiaY, D]?VIN i CON~J1N~f, 100 M~st Bay Str~t. Juksoaviil~, P3~orida .~r :it ~uch .uher place a~ the holde~ uf the note may designate in writing, ~n monlhly installments of ONS tNNORED SSVSN ANL~ 89/100 Dollars (S 10?.89 comn~encinq on thr fu~t da}• ot ~jy , 14 ~l , and on the ii~st day of each mo~th thereafter untilthepr~ncipal and ~nterest are full~• paid, except that the [inai payme~t of ptinc~pal and intrrest, if noi soonet paid, shall be due and pa~•ablc on the fitst da~• u[ J~ne, 2001. And shail duly, promptly, and fully perform, discharge, execute, ef[ect, complete, and comply with and abide b~~ each and evc~ry the stipulations, agreements, conditions, and co~enants ot said promisso~, nate and oi this mort~;:iKe, thrn thi~ mortgage and the estate hereb~ cceated shall ce:ise and be null and ~~oid. And the mcxtKa~ur further cu~•enant~ as foltow•s: 1. 1'hat hc v?i11 pay the indebtedness.as hereenbef~re pru~•ided. Privilege ~s reserved to pay tF.P debt in whoie. ur in an amount eqoal to ane or ~o~e monthly payments on tht principal that ar~ next due on the note, on the fi~st d:~~ .~f am• month prior to matucit~•: Pr~.~~id~•~i, howeve~, that written notice of an intention to exercise such pririlege ~s ~;~~•en .+t least thirtp (30) da~s prior to prrpayment; and, provided further, that in the event the debi is paid in tull pr~or to matu~il}• :~nd at that time it is insured under the pro~~isions of the National Nousing Act, he vvill pay to the mortgagee an adiusted premium charge of one per centum (1 b) o[ the orig~nal principal amount thereoE, except th.~t in no ecent ~hatl the adjusted premium exceed the a~regate amount oi premium charges which would ha~•e b~~e~ p~~•able ~f the mortgage had continued- to be insured until maturity; such payment to be applied by the mort- ~aKee upon its ob:~gati~n to the Secretary of Housi~g and Urban Develapment on account of m~dgage insurance_ That, in order more iully to protect the se:urit~• of this mortgage. the mortgagor, togethe~ with, and in addi- ti.m t~~, the munthl~• pa~•ments under the terms of the note secured hereby, on the ficst day o( each a:ontS until the sa~d note ~s tuil~• paid, w~ll pa~• to the mortgagee the following sums: : An ..r...,unt suf(ir~rnt to provide the :~olde~ hereot w~th funds to pay lhe next mort~zn,e u~surance premium i[ this instru- mrnt end thr note serured hereD4 are msured, or a monthly charge (in lieu u( a mortgage ~nsurance premium) i( they are h.•Id h~ thr Secretary of Nousing and Urban Developmeat, as (o11oMS: :;1~ 1( and so long as sa~d note o( ecen date aGd th~s tnstroment are insured or sre reit?sured urtder the provisions o( the ~..a~n+~l N~wsu,~; Act, an amount suf[ictent to accumulate in the hands o( the holdet one (1) month prior to its due date the annual r.iorigaQe tnsurance premtum, ~n order to provide such holder with tunds to pay such ~.remium to th~ Se: retar~~ oi Hous~ng and Urban Development pursuant lo the National Houstng Act. as amended, and appficable Regu- latwns thereunder, or ~ ; lI1 !f a~d so iong a<3aid note of e~rn date and this mstrument are held by the Secretary ot Housing and Urban Decelop- r.rnt. a m:~nthiy~ .?:arKe ~m lieu of a mortgage insurance premtuml vchtch shall 5e in ~n amount equal to one-twrlfth i 1 1'1 0[ onr-hal[ ~~-1 prr ce~lum o[ lhe aa•eragc uutstand~ng balance due on the nate computed w~thout taking into ac: ount delmquerrn ~es or prepaymrnts, ~ ~ A su+r equat te the grc.und rents, t[ any, nert due, plus the premlums that wili next become due and payable on policies ~t f:re and other haz.rd msurance corering the e:ortgaged properiy. plus 2a:es and Lssessments next due on the mort- ~~e:~'~ FrePrrt~ iall as rst~mated by the mortQagee) less all sums already pa~d thereEor d~vided by the number of mon;hs ~ to eIapse beforr one r.:onth pnor to the date when such ground rent~, prem~ums, ta:es, and assessments w~l1 become dP- ~ ::r.y;:em_ such su:r:s to De hetd by mortgagee in trust to pay said ground rents, prem~ums, ta~ses, and speciPl assessments: I d~~ Ait pa~r..rni~ r..enuoned ~n the tvro preced~ng subsrcuons o[ this paragraph and all payments to be madr under the nute sr.ured herrb~ sha11 be added togrther and the aggregate emount thereot shail be paid b~• the mortgaeor each rt:Jnth ~n a s~nKie p.>~ment to b~ appl~ed by the mortgagee to the following items tn the order set forth: prrmiucn ch~rges under the contract =of insuranre with the Secretary olHous~ng ~nd Urban Deeelopmeat, or monthly : ha:Ke i ~n lieu ot mortgage ~nsurance prertuum), •s the case may be; ,11~ ground rents, taxrs, assessments, fire, and ather hszard insurance prem~ums; ~111) ~nterest on the note secured herebp; and ~1\'~ a-.~.rtuauon ot the pr?acipal o[ said r?ote. an}• deficienc~~ in the ar.iount of such aggregate monthly payment shall, unless made good by the mortgagor pr~or to the due date of the next such payment, const~tute an event of default under this mortgage. The mortgagee :~a~ collect a"late charge" not to exceed two cents (2¢) for each dollar (S1) of each payment more than fifteen il~) dati•s ~n arrears to cover the extra expense invol~~ed in handling delinquent payments. 3. That if the total of the pay~ments made by the mortgagor undet (6) of paragraph 2 pr~ced~ng shall exceed the amount of pa~•ments actually made by the mortgagee. [oc ground rents, taxes and assessments and insurance ~remiu:ns. as the case may be, such excess shall be credited by the mortgagee on subsequent payments to be ~ade b~• the mortgagor. If, h.~+we~•er, the monthly payments made b~ the mortgagor under I6) of paragraph 2 pre- ceding shall not be sufficient to pay grou~d rents, taxes and assessm.~nts and insurance prem~um~, as the case ^:a~ be, xhen the same shall become due and payable, then the mortg:.got shall pay to the mortgagee anf• amount necessary to make up the de(ic~ercy, on ex befae the date when papment ot such ground rents, taxes, assessments. or insurance premiums shall be du~. If at any time tfie mocigagor shall tender to the mortgagee in accordance with ~±~P pro~•is:ons of tfie note secured hereby, full payment of the entire iedebtedness represented thereb}~, the mort- gagee shail, in computing the amount of such indebtedness, credit to the account of the mortgagor all payments ~ade under the proLi~ions of !u/ of Parag:aph 2 heteof which the mortgagee has not become obligated :o pa~•to tt?e Secretary oE Nous?ng and Urban Development and any batance remain~ng in the funds accumulated under the pro: is?ons of !f. J~~f sa~d paraqraph 2. tE there shall be a default under any of the ptrn•isioas o( th~s morigage, re- su:tir.g ~:i a pvbl~c sale of the prem~ses ~overed ~ereby, or if the mcxtgagee acqu~:es the property otherw~se after ~'efautt. tht• mortga~ee shal! applp, at the time of the commencement o( such proceedings w a! the t~me thP prop- ertti ~s othera~se acquued, the balance then remaining in the fur~s accumulated under rj.i of paragraph 2 preced~ng ~s ~ credit against the amuunt of principal then remain~ng unpaid under said note and shall properly adjust any papments x•nich shall have been made under (u/ of said paragraph. 4. Tha! he wili Pay all taxtK, assessments, water rates, and other go~~rrnmentai or munic~pal charges, f~nes. nr i~-.F,c.s:+i~,nt, for wh~cti prrn+~s~oo has not been made here~nbefote, and ~n de[autt therrof the nortgaKcc ma~• ~at• the ~amr, :d tfidt he w~11 prurr.ptly del~ver the o[ficial receipts thrrefor to the mo~tgagee. go~? ig3 ?37 - - -