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Home My WebLink About2606 f t s,~id t.^.eutK.~~;ur due~~ hetrb~• full~• tearr.int the t~tlc• to aaid l.ind, and e~~er~• p~rt thereof, and w~U del'cnd the s~,me ~ .~~;:+in:t the l.~~cful c1a~m~ of aU pcrtiuns whomsoe~~rr. PF~O\'ID~D ALN'AYS, and these presents are executeci and deli~~ered upo~ the following conditions, to wit: The mortgagur .+grres to pa~• the mort~;~~g~e, or o~de~, thr principal sum of EIGHTBEN TlqU$~AI~TD 8EV$~I HUNDBBD aad 00/100--------------•-----•---•-----•-~•_-_----------------•------- ~ [~o~ta~s i~ 18~~QQ~QQ as e~~idenced by a note of e~~eo d~~te herewith, with interest from date at ihe ratc of aewa per centum ( ) o) pe~ annum on the unpaid balance ~ until pa~d. The said princ~pal and interest shall be payable at the office ot ; Stocktoa, ilhatley, Davin b C.ospaay; 100 Weat Ba~ Stra~t; Jackaomrill~~ Florida ~ i ~~r at such other place as the holder of the note ma~• designate in writing, in monthly instat(ments of Q~j$ ~gp i 1SiHN1'Y-FOOA atld 54/100---•---------•--- Doltars (S 1Z4.54 comnrencing on thc f~rst da~• o( j~pr~ar . 1971 , and on the fi~st dap oi each month thereaftec untilthep~incipal :+nd ~ntcrest are fully paid, except that the fina! payment of principal and interest, if not sooner paid, shall be due ~+nd pa}•able on the first da~• of QctOb!!~ 7001. r\nd shal! duly, promptly, and fuil~• perform, discharge, execute, effect, complete, and comply with and abide b~~ each and e~~er~• the stipulations, agreements, conditio~s, and co~~enants of ssid promissory note and of this mort~;age, then this mortgage and the estate hereb~• created shall cease and be nul~ and void. And the mortgagor furthe~ co~•enants as foltov?s: 1. That he ~ ill pay the indebtedness, as hereinbefo~e pro~~ided. Privitege is reser~•ed to pal• the debt in whole, ur ~n an amount equal to one or more monihly payments on the principal that are next due on the note, on the first da~ of an}• month prior to maturity: Y.~~, id~•d, however, that written notice of an intention to exercise such pri~~ilege + ~s g~~-en at least thi~ty (30) da~~s prior to prepa~•ment; and, pro~~ided turther, that in the event the debt is paid in fu!1 prior to maturitt• and at that time it is insured under the provisions of the National Housing Act, he will pay to the mortgWge~ an adjusted premium charge of one per centum (1 0) of the original principal amount thereof, except t}iat in no e~•ent shal! the adjusted premium exceed the aggregate amount of premium charges which would have been pa~~able if the mortgage had continued to be insured until maturity; su~h payment to be applied by the mort- " ~;a~ee upon its obligation to the Secretarp of Housing and Urban Development on account of mortgage insurance. 2. That. ~n order more Eull~• to protect the security of this morigage, the mortgsgor. together with, artd in addi- t~an to, the monthi~• payments under the terms of the note secured hereby, on the first day of each month untit the ~ said nute is full}~ paid, will pay to the mortgagee the Eollowing sums: . An .,:r..~unt sufflr~rnt io pro~•~de the holdrr hereo( with tunds to pay the neYt mortgage insur~nce premium i[ this instru- ment and thr note serured herrb~• are ~nsurrd, or a moothly charge (m Iteu o( a moct~age ~nsurance prem~um) i( they are he•id b~ the tiecretary of Huusing and Urb-an Development, as [ollows: ~I~ 11 e~d so tong as sa~d note o( even date and this instrument are insured or are reinsured under the prov~s~ons o( the Xatwnai Hous~ng Act, an amount su[lic~ent to accumulate in the hands of the hotder one (t) month pno~ to its due Jate the annual morigaKe insurance premium, in order to proe~de such holdet with funds to pay auch premwm to the Secretary of Hous~ng and Urbwn Drvclopmc~?t pursuant to the Nauonal Hous~n~ Act. as amended, and appiicable Regu- lat~uns thereunder; or 'l!? If and so long as sa~d nute o[ e~•en date and this instrument are held by the Secretary o[ Nousing and Urban Develop- r.~rnt, a montht} charKe lieu of a mortg~ge insurance premwml vrhuh shall be in an amount equai to one-twelfth li 121 of one-h~tf (j:) per crntum of the average outstanding balance due o~ the note computed withouttaking ~nto a..•onnt delmyuenc~es or prrpayments, ~ A s~m equal to the gro~nd rents, af ~ny, next due, plus ehe premiums that will next become due and payable on policiea ,1 f~rr and othrr haiard tnsurance covenng tht mortgaged property, pius taxes and assessments nesl due on the mort- xaKrd propert~• lait as cctimated by the mortgagee) less all sums alread~• pald therefor div~ded by the number o[ months t~ a•l..psr beforr une month prior to the date when such ground rents, premiums, taxes, and assessments will become de- tinqurnt, such sums tu be hetQ by mortgagee ~n ttvst to pay said Qrouqd rents, promiums, taxes, andspecialassess?ments, dnd ~ All pa~•r.:ents mentionrd in the two preced?ng subsectwns of th~s paregraph and all payments to be made under the note srcurrd hrrrby shall Ae added together and the aggregate amounf tRereof shall be piid by the mprtgagor each month ~n a s~n~,Ir paymrnt to be appl~ed b~• ihe mortgagee to the (ollov~?ng ?tems tn the order set forthc prem~um ch+~rges under the contract oE ~nsurance with the Secretrry o( Houstng and Urban Develupment, or monthly rharge (~n lieu of crmrtgage insurance prem?um.), as the case may be; 1I1) ground rents, taxes, assessmrnts, tire, end other hazard insurance premiums; 11It1 interest un the notr secured hereby: and t11't amurtezat?on o! the principa3 ot said note. Any deficiency ~n the ar~ount of such aqgregate monthly pa~~ment shail, unless made good by the mortgagor prwr to the due date ot the next such payment ; constrtute an event ot default under this mortgage. 'The mortgagee ma~ collect a"late rharge" not to exceed two cents (2Q) for each dollar <Si) of each payment more than feEtee~ tli) days ~n arrears to cover the extra expease involved in handling delinquent payments. 3. That if the total u[ the pa~•ments made by the mortgagor under (6) of paragraph 2 preceding shall exceed che amount of pa}•mentc actua!!y m~de by the mortgagee. [or ground rents, taxes and assessments and insurance premium~, as the case may M, such excess shall be credited by the mortgagee an subsequent payments to be made b~- the mo~tg:,go~_ If, howe~•er, the monthly payments made by the mortgagor under (b) of paragraph 2 pre- reding shall not be sufficient to pay grcwnd rents, taxes and assessm~~~ts and insurance premiums, as the case ma~• be, K•hen the same shal! become due and payable, then the mortgcgot shall pay to the mortgagee any amount necessary to make up the deficiency, on or befae the date when payment of such ground rents, taxes, assessments, ur insurance premiums shall be due. lf at any time the mortgagor shalltender to the mortgagee in accordance with thr pro~•~s~uns of the note secured hereby~, full payment oE the entire indebtedness represented therebp, the mort- g:+gee shaU, in computing the amount of such ~ndebtedness, credit to the account of the mortgagor all payments mdde under the provis~ons of /u1 of paragraph 2 hereof which the moctgagee has ~not become obligated to payto tbe Secretar~• ot Housing and Urban Development and any balance remaining in the tunds accumulated under the pros isions of /1~/ of said paragraph 2. ?f there shall be a default under any of the provisio~s o[ this mortgage, re- suit~nK ~n a public sale of the prem~ses covered iereby, or i[ the moctgagee acqucres the property other~uise aEter def~utt, the mortgagee st~at! apply, at the time oE the commencement of such proceedings or at the time the prop- rrt~ is otheru•ise acquised, the balance then remaining in the.Eunds accumulated under (f.) of paragraph 2 preceding .+s a credit aga~nst the amount of principal then remain~ng unpaid under said ~ote and shall properlyadjust any pa~•ments which shati ha~•e been made under (ul of said paragcaph. -1. That he will pay all taxes, assessments, water rates, and othe~ go~•ernmental or municipat charges, Ei~es, or ~mposttiuns, for whirii pro~•~sion has not been made hereenbefae, and in default thereot the mortgagee may pay the same~; aad .hat he w~ll promptly deltver the of(icial receipts the~efor to the mortgagee. j - ao~ 195 ~21~ - _ i. ~ : ~ ,-~'~~s:~;~