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~.ud ~nutl~;.~~;ut d.x•~ fie~rb~' ~ulh ~~.~~t:~nt th~• I~tl~• tu ~:~td l:.nd. sntl c~rt1 p.ul there~~l. ~n~l N•~ll drlrn~! t1i~• ~.~r~e~
.~~;.~ui~t tht~ l.~wlul ~ la~m~ ~I ali ~t~~~na u~h:~m~otver.
~ ~ \..I' •
I~b'll\'IDEU aLN~YS, and thesc• pceseat~ ac~~'LNcrttitFtl'~,~ItQ'drlT~•~c~i u{x~n tfie torloKinK rund~tions, to u~t:
Tt?~ murt~;,~~;ur aK~res to pa}' lhe mw~Kagcti•, ur ocd~r, the principut sum o( SEVBNTaEN TNOUSAI'1D FQJR HUNDRBD
s ii a i ~d W/1W~~~~~~~~~~~~~~~•~~~~w~~~~r~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~s~~~~~~~N~ :
llollars (S j~~lrsQ~QV ati e~?drocc~d b~• a nule ul evcn dute ficrcw~th, w•~Ih ~nte~rst Itum datr e.t the :
r.~te ol NV~1 prc ce~tum ( 7 prr annum on the unpaid b2l~+nce
until p:~id. Thc~ sa?d pr?nr~pal and interest sh.~ll be pa~•able at the oftice .~f
Sl'OC~'i'n'1, NNl1T~dY, D71VI~ i Cq~• 100 iMat B,y StrNL, Jackaonville, !'lorida
.u ,+t ~u~•h .xhr~ pl:~ce a~ the hulder uf thc natc ma~~ dts~gnate ~n wc~ting. ~n munthly ~nstuUments u[ ~E ~jNj?j~$p
SIXTEEN aL1d 22~1OQ~••••~•~••••~•••••••-••••Uollar~ (S 116.22 camn~ncing on
thr t~rst da~• of JUljI . 1971 • and un the tirst day of Nach munth therea[ter untiithepnncipa:
and ~nterrst are tuil~• paid, except that the f:nal p:iyment of princ~pal and ~ntecest, tf not so~ne~ paid. shali be due
and p:+yable un the iirst da~• of J~e, 2001.
And shall dult, prwnptl~•, and tully pe~tu~m, d~schacge. execute, effect, complete, a~d cumply w?:h and abide
h~ r:+rh and ever}~ the st~pulat~ons, agrremr~t~, condttions. :~nd co~•enants of said promtssory ~ute and of this
murtgage, then th~s mortgage and thi estatr hereby created sh~ti cease and be null and cuid.
And the mo~igagor further co~•rnants a~ EulloWs: - -
1. That he v?il1 pay the indebt•~dncss,as heceinbefure pro~~~ded. Pn~•ilege is resrn•ed to p:~p the debt ~n whole. _
o~ in an amount equal to one a mae monthly pjryments on the pcincip~l that ire next due on t`:e note, o~ ~the tirst
d,+~- ~~f an~• month p~ior to maturit~•: I'.~~~:d.•d, hoKevec, that w~ritten notice ot an intention to exercise such pri~~ilege
is Kiren at least thirty (30) da~•s prio~ to prepa~~meut; and. pro~•ided further, that ia the event the deht is paid in
fuli prior to maturit~• an~ :+t that time it is insured under the prc~~isions ot the Natiooal Flousing Act, he will pay to
the mortgagee a~ adjusted premium chacge of one per centum (1 0) of the origi~al principal amount thereof, except
th~t ~n no e~•eat shall thc :+djustes~ prem~um exceed the agg:egate amount of premium charges which would havr
bec•n pa~~able if the mortgage had continued to be insured until maturity; such payment to be applied by the moct-:
gaKre upun its obligation to the Serretary of Nousi~g and Urban Development on acco~nt of mortgage insurance.
That, ~n urder more full~~ to protect the security of this mortgage, the mortgagor, together with, and in addi-
t~on to. the munthl~• pa~ments under the terms of the note secured hereby, on the first day of each month until the
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sa~d note ~s fuli~• p:+~d, veill pay to the mortgagee the ~ollrn?ing sums: .
. aa e^:.~~nt su(f~~ ient t~ provtde thr holdrr hrreu[ ve?th funds tu pay thr next murt~++ge insurynce p~em~um ?t t~ts tnstru-
~:a•nt ~nd ti~r notr aecured hereb~• are tnsured. or • monthlT eharge (tn lieu of s mortgage insuranct prrenium) i[ they afe
hr2d M the Srcrrtary of Housing and U~b~n Arvelopn:eat. as (oUows:
tl~ !f +nd s.. long ~s sa~d nole ut even datr aad th?s ~nstruweat are msured or +re ~sincured under th~ pruv~stons o[ the
\atwnel Nuusin~ Act. an amount suffic~enf tu arcumulale in the hands ot the holder one (11 munth prtor to tts due
dete the annuai mertK~ge msur~nre prrmtum. ~n order to p~uv~de surh hotdrr wtth (unds to yay suchpremium to the
$ecretan ut Noustng and Urbyn Devrlupment pursuant to the Nstwnal lioustng Act, as ameoded, ond applu~ble Regu-
lati.vis thcreunder, or -
11': li rnd :r :o~g as satd aotr of acrn datr and th~s instrument are held Ly the Secretrry ui Huus~ng and Urb+n Decrlop-
nrnt. e rr.ontht~ rh~rKe ~in lieu o( a mortgage msu~ance premiuml whtch shall be in an amuunt equa: to o7tr~tw~rlflh
~1 1_'~ o( o~r-half ~i:l per cenlum of the avecage uuts.andmg balnncs due ua the note cumputrd without taktng tnto
a:: ount deiinquena irs ar prrpaynents,
, ' A sur.: rqual te the ~;round rrnts, t( any. nexl due, plus the ptetr.tutns that vr~ll ne=t becurre due and py~-able on pul~cirs
:~t fue +nd other haz~ni incunnce covenng the mortgagrd property, plus taxes +nd assessments next due un the mort-
~;aFr~ pr~~prrtc (+1! as eshmetrd b~ the mutt~agee) less ali sums alreody patd thereEor d:v~ded by the nur.:ber of months ~
; tn elap.a• 5efore onr month prior to the date afien such ground rents, premwms, taxes, and assessments ur~t! become de-
:inyurnt. such sur.:s to br he:d b~• mortea~ee in tr.:~t tu pa~ said ground rents, premwms, toxes, ~end speciai assessments,
aild -
- A:; pecc.r7ts mrntioned in ihe two preceding subsectiuns o[ th~s paragraph and all payments to be r.iade u~drr thr note
. serured hrrrb~- sha;i be added togrther and the aggregate amount thereot sh~li be pa~d by the rr.ortgagor each rt:unth ~n a
cinK:e pay~rnt to be ipplted by ~he mortgagee to the (ollow?ng itemc in the order set furtF:
ti~ prrmiu:r: ch~rges under ihe contrart of snsurance w~th the Secretary of Hous~ng and l.'rban Drveiopment. vr monthiy
rh.rge ~~n ~?e~ ~t ~~~eeae~ ins~:rance premium), as the cace map be;
~.11) gro::nd rrnts, ta:es, assessments, fire, and other hazard insursnce p~emiums;
~ IIU ~nterest on the note secured heteby; ++nd
SI\'~ a~r..rtuatwn of thr principal oE said note.
:~n~• det~cienc~• in the arnount of such a~gregate monthl~• payment shatl, unless made good b~• the murtgagor
prior to the due date of the next such pa~•ment, const~tute an event of de[ault under t:iis mortgage. The mortgagee
-a~• collect a"late charge" not to exceed two cents (2C) for each dollar (S1) of eac:~ pa}•ment more than fitteen
+15} da}~s in arrears to co~•er the extce expense involved in handling delinquent payments.
3_ That if the total of the payments made by the mortgagor under (bJ oE pa~ag~aph 2 preced~ng shail exceed
the amount of pa~~ments actually made by the mortgagee, Eor ground rents, taxes and assessments and insurance
pmm~ums. as ~he case may be, such excess shal! be credited by the mo:tgagee on subsequent payments to be
~ade by the mortgagor. if, how•e~•er, the monthl~ pa}~ments made b~~ ihe mortgagor under (f~~ ot paragraph 2 pre-
cedrng shall not be ~ufficient to pay ground rents, taxes and assessm~~nts and insurance premiums, as the ca~e
rr.a~ be. w•hen the same shall become due and pa~~able, then the mortg:.gur shall pa~• to the mortgagee an}• amount
~ecessary to make up the defic~enc~•, on a before the date when payment of such ground rents, taxes, assessmerits.
or insurance premiums shall be duP. If at any~ time the mortgagor shail tendYr to the mvrtgagee ir. accordance w•~th
:he pro~tsions of the n~te secured herebS•. tutl pa~•ment of the entirr ~ndebtedness represen!ed thereb~~, the mort-
ga~ee shall, in comput~ng the amount oi s4ch ~ndebtedness, credit to the account of the mortgagor al! pa~ments
Tedc- under thc~ prrn•~.sio~s of lu 1 of paragraph 2 hereof which the mortgagee has not become obligated to pat• to
the ~ecretar}~ of Nousing and Urb~r~ ~Jevelopment and any balance remain~ag in the tunds accu:nulateci under the
;~ra~ ISIUflS of 1 of said paragraph 2. it there shall be a detault undet any ot the pro~•isio,s of th~s enortgage. re-
~ut~~~~, ir~ a pub2ic sale of the pcrmises co~•ered ieceby, ot ~f the mortgagee acquites the property otheruise after
d~feLlt, th~- mortgager 5hell ~ppl~. ai the ttme oE the cocpmencement ot sech praceedings or at the t~me the prop-
ert~ ~s othc•rw•~se acquued, the balancr then remain~ng in the funds accumulatcti ur.der (1~ t of paraKr:+ph 2 prrred~ng
:f5 e cred~t aga~nst the amouat of princ~p:+! then remam~n& unpa~d undet said note and shali properl~•ad~us~ any
payr.~e~ts u~h~ch shall Fate been made under (u/ of said paragraph.
-3 ~'h~t he wt]! pay all taxes, assessments, w•ater rates, and other governmental ~~r munic~val chatgrs, Iine~,
-,r i-,{:un~t;ans, for wh~ch prov~si~x~ h~s not been made hrce~nbefae, ~nd ~n drfault theceot the murigaKee ma~• pa~ -
the ser,.e, ..nd that hr x~l1 prurr.ptlt• dei~~•et the oftic~a! rece~pts thecefor to the mortgaKee.
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