The URL can be used to link to this page

Home My WebLink About2612 ~ . t ~.~id murt~a~;ur duc~. he~teby fullt• aarr:~nt the titte ta said tand, and rvety part ihereuf, and wi.ll de(end the s.~rt~e :~~a~nst th~~ k~wful clu~ms uf all persuns whomsae~•er. PROVIDE:D ALN'AYS, and these presents are executecl and delivered upon the following condilions. to wit: 'I'he mortgagor aK~ees to pay ihe mortg~gt~e, or order, thr principal sum a[ EIGHTEIId THOUSAND SEVIId HUNDRED and 00/100----------------------------------------- (~ull:~rti (S ],8, 700.00 as e~•idenced by a note ot even date herewith, with interest from date ~t the r:~te of Severi per centum ( 7ia) per annum on the unpaid balance until pa~J. The said principal and intecest shall be payable at the oEfice of STOCKTON WHATLEY, DAVIN & COMPANY; 100 West Bay Streett Jacksonv~lle, Florida ur :+t ,uch other place as the holder ot the note may designate in writing, in monthly installments o[ ONE HUNDRED TWENTY-FOUR A11d 54/100-------------~ollars (5124.54 como~encing on the tirst da~~ of November . 1971 , and on the first da5~ of each month thereafter untiltheprincipal and interest are Iully paid, except that the final payment of principal and interest, i[ not sooner paid, shall be due and pa~•able on the tirst day o[ OCtOb~t, 2001. And shall duly, promptiy, and t~lt~• perform, dischacge, execute, effect, complete, and comply with and abide b~• each and erery the stipulations, agreements, conditions, and covenants of said promissory note and o~ this murtR;~Re, then this mo~tgage and the estate hereby created shall cease and be nuU and void. r\nd the mortgagor further co~enants as follows: l. That he will pay the indebtednes~, as hereinbefore provided. Privilege is reserved to pay the debt in whole, ur in ;~n amount equal to one or more monthly payments on the principal that are next due on the note, on the first ~i:+~• of any month prior to meturity: /'r~~~ id~•d, however, that written notice of an intention to exercise such privilege is gi~•en at least thirty (30) days prior to prepayment; and, provided [urther, that in the event the debt is paid in full p~ior to maturit~- and at that time it is insured under the ptovisions of the National Housing Act, he will pay to the martgagee an adjusted premium charge of one per centum (1 a) ot the original principal amount thereof, except th~t in no e~~ent shatl the adjusted premium exceed the aggregate amount of premium charges which would hsve bcen pa~•able if the mortgage had continued to be insured until maturity; such payment to be applied by the mort- gagee upon its obligation to the Secretary o[ Housing and Urban Development on eccount of mortgage insurance. 2. That, in order more fully to protect the secarity o[ this mortgage. the mortgagor, together with, and in addi- tion to, the monthl~~ payments under the terros of the note secured hereby, on the first day of each month until the s:+id nute is (ully paid, will pay to the mortgagee ifie following sums: E~r~ An amuunt su(tirlent to proride the holder hereot with tunds to pay the nett mortgage insurance prem~um i[ th~s i~stru- mrnt and the note sec~rrd hereby are insured, or a monthly charge (ie lieu of a mortgage insurance premium) it they are hrid by the Secrrtary o[ HousinR and Urba~ De~•elopment, as tollows; (1~ If and so tong as said note uf even date and ehis ~nstrument are insured or are reinsured under the ptovtsioos of the 1~tsonal tiousing Act, an amount sut[icient to arcumulate in the hands of the holder one (1) month prior to its due dat~ the annual mortgaee insurance premium, ~n order to provide such hotder with tunds to pay such premium to the Secretary o( Hous~ng and Urban Development pursuant to the National Hous~ng Act, as amended, and applicable Regu- • lat~uns thereunder; or ilt) 1( and so long as said note o[ evrn date ~nd this instrument are held by the Secretary oE Nousing nnd Urb~n Develop- nent, a monthly charge (i~ lieu o( a mort¢aee insurance premium) which shall be in an amount equal to one-twel[th (1 12) ot one-half per centum of the ave~sge outstanding balance due on the note computed without taking into acrount del?nquencies or prepayments; 1: A sum equal to the ground rents, it any, next due, plus the premiums that will next become due and payable on policies o( f?re and uther haz~rd ~nsurance coverine ihe mortgaged property, plus taxes and assessments ne=t due on the mort- I kaged property (all as est~mated by the mortgagee) less all sums already paid there[or divided by the number ot months ~ tu rlep~e before one month prior to the date when such ground rents, premiums, tazes, and assessments wili become de- I I~nqurnt, such sums to be held by mortgagee ~n trust to pay said ground rents, premtums, toxes. •nd specia! acsesaments; i end t ~ Ali paymrnts ment~onrd m the two preceding subsecttons o[ th~s paragraph and ali payments to be made under the note ~ secured hereby shall be added together and the aggregate amount thereo( sha11 be paid by the mortgagor each month in a ~ s~n~te payment to be applied by the morlgagee to the [oliowing items in the order set torth: (1) prem~um charges under the contract of insurance with the Secretary of Nousing and Urban Devetopment, or monthly charge (i~ I~eu ot mortgage msurance premium), as the case may be; (II) ground rents, ta:es, assessments, (ire, and other hazard insurance premiums; (I1!) ?aterest on the note secured hereby; and U\') amurtization of the principal o[ said note. Any def~ciency in the ar~ount of such aggregate monthly payment shall, unless made good by the mortgagor prior to the due date ot the next such payment, constitute an event of default under this mortgage. The mortgagee mey collect a"late charge" not to exceed two cents (2Q) for each dollar (S1) of each payment more than fifteen ll~) da}•s in arrears to cover the extra expense involved in handling delinquent payments. ~ 3. That if the total of the payments made by the mortgagor under (b) of paragraph 2 preceding shall exceed the a:a~uzt of Fa~~s.^.eats ac!ually made by the mcutgagee, for grcwnd cents, taxes and assessments and insurance ~ premiums, as the case may be, such excess shall be credited by the mortgagee on subsequent payments to be made b~ the mortgagor. lf, however, the monthly payments made by the mortgagor unde: (6J of paragraph 2 pre- ceding shall not be sufficient to pay ground rents, taxes and assessm~~nts and insurance premiums, as the case ma~~ be, when the same shall become due and payable, then the mortg~gor shall pay to the mottgagee any amount necessary to make up the deficiency, on or before the date when Payment of such ground rents, texes, assessrstents, or insurance premiums shall be due. If at any time the mortgagor shall tender to the mortgagee in accordance with ~ the pro~•isions of the note secured heceby, full payment of the entire indebtedness represented thereby, the mort- ~ gagee shall. in computing the amount o[ such indebtedness, c~edit to the account of the mortgagor all payments made under the provisions of (u) of paragraph 2 hereof which the mQrtgagee has not become obligated to payto the Secretarp of Nousing and Urban Development and any balance remaining in the funds accumulated undec the ~ pro~•isions of (i,) of said paragraph 2. If thece shall be a deEault under any of the provisio~s of this mortgege, re- ~ suit~ng in a pubtic sale of the prem~ses covered ~eceby, or iE the mortgagee acquires the property otherwise after ~ default, the mortgagee shai! apply, at the time of the commencement of such proceedings or at the time the prop- ~ ertp is otherwise acquired, the balance then remaining in the funds accumulated under (6J of paragraph 2 preceding ~ as a ccedit against the amount of principal then remaining unpaid uoder said note and shall properlyadjust any payments which shall have been made unde~ (a) ot said paregraph. ~ 4. That he wilt pay all taxes, assessments, water rates, and dher governmental or municipal charges, fines. or ~mpositions, for which pro~•ision has not been made hereinbetore, and in default thereof the mortgagee may pay the same, and that he w itl Promptly deliver the o[ficial receipts therefor to the mortgagee. 60~ ~~O 3 . , . , ;y':~' = . ra.= ' ~ a~.~z,..~._ =4 ti^~.~.~.~~ ._.v . - - la~~ a