HomeMy WebLinkAbout0421 ~,~id c~~~rtk;,~~•.,_ ;~~~r: ti~•re•h~ fullt ~~.~tr.~nt the• title• tc, satd l:~nd, and e~r~~ Fi.ut thereul, and a~ll detrnd the s,.me
.,~;.~in~t thc l:~~ctu1 ~ i,~im~ .~f .+11 {~rr,.~~is Whuu;>ue~rr. ~
Pf?O~'IDE:I~ AI.I1A1'J, .~nd these prese•~itti .~re exerut~~cf ~+nd delicered upon the follow~ng conditiuns, to w~t:
'Chr m~~rtK.~~;ur .+Krees to pa~ the mc~~tKagre•, u~ urdcr, the pnncipal sum af EIGHTEEN TNO[1SAND FIVE
!i~'~tDR~D end 00/100--~-------------------------------------------•----------------
[~~~itars ~518~500.00 i. as e~?drnced bp a nute u[ even date herew~ith, with ~nterrst frum date at the
~„i~. ~,i per centum ( 7 `o) per ann~m on the unpaid balance
until ~~.ud The su~d pru~c~pal and uiterrst shaU bc pa~able ~t the office ui
~OCICl`~1, MW?TLSY, DAPlN z C~11NY, 10~ West Bay Stxeet, Jacksonville. FLricia
ur ~t ~uch othe~ place ,+s thr hulder uf the note ma~• des~gna!e ~n writing, in monthly installments ot ONF. HUhDRED
TWEP;TY-THR~E aIId ~1 f 1(10~--------^---------- Dollars (S 123.21 commeasing on
th~~ f~r~t dat of September , lyll , and on the fust da~• oi each month therebfter untilthepri~cipal
:,nd inter~.t are fully paid, exrept that the Einal pa~~ment of pr~ncipal and ~nterest, i[ not sooner paid, shall be due
and payable .~n the E~rst da~~ uf Al1gUSt~ 2001
And shal! dul~~, promptl~~, and tutl~• pe::a:::, disch~rge, execute, effect, complete, and comply with and abtde
b~ each and e~•er~• the stipulat~ons, dgreemrnts, conditions, and co~•enants of said promissory note and ot this
:r~~rt~.~ke, ttien this mortKage and the estate hetebv created shall cease and be null and aoid.
And the mortg~gor further co~~enants as follows:
i
~ 1. That he w•ill pa~~ the ~ndebtednes~, as hereinbefore pro~~ided. Pri~~ilege ~s reserved to pay the debt in whole.
j ur ~n ~,n amount equal to one or more monthl}~ payments en the principal that ace next due on the note, on the first
~ d:~~ of an~• munth prior to maturit~: f'~.,<;i.:i, howe~•er, that Hritten notice of an intention toexercise such privilege
~ is ~;~~•en .+t least th~ri~• (30) dat~s prior to prepa~•ment; and, pro~~ided further, that i~ the event the debt is paid in
~ full pnor to matunt~ .and at th,?t ttme it is insured under the provistons of the National Housing Act, he will pay to
~ tha• murtRagee an ~~diusted prem~um charge of one per ce~tum (1 of the original principal amount thereof, except
~ th.tt m no e~•ent shall the ad~usted premium exceed the a~gregate amount of premium charges which would have
~ h~•en pa~•.~bie if the mort~a~e had continued to be insured until matarity; such payment to be applied b}• the mort-
a ~.~~;c~e upun its obG~ahon to the Secretary of Housing and Urban De~•elopment on account of mortgage insurance.
~ 7'h,~t. ~n order more fullt to protect the securit~• of this rt~ortgage, the mortgagor, together with, and in addi-
t?~m to. the m~nihl~• pat•ments under the terms of the note secured hereby~, on the first da~~ of each month unt~l the
~ sa~d note i~ tu,l~ paid, wi:l pa~ to the i~ort~,agee the follow•ing sur.is:
~
:\n ::nt sutftc~rnt to proc~de ;he hoi.ter herr~f with funds to pay thr next mortKa~e tnsurance premiur,: ~f this i~stru-
e,rn! .+ndthr n:~tr srcurrd hrr~bt ~rr in~ured. ~,r a^:~nthly .harge (in :iru of a mortgaKe insurance premiuml the~• are
~ h~ ::i !~ti :h~- retan~ ~~f HoustnF and Urban Develupment, as follous:
,'a ~1 I( .u~~i i.~ng as said nute .~E e~•en date and this ~nstrument are ~nsured ot are re~nsured under !he provisiuns of the
~ \..t~: n..: H~~u~'an~ Ac:. an aR;uunt tiuffir~rnt tu arcumulate tn the hands af :he holder ~ne (I1 month pnor to its due
3 .i.r,r the ann~.~: ^,•,rt~;a~t• ~nsuranir prerr.tum, ta urder to prv~'ide such hoider w~ith funds to pay suchprem~um to the
~ <<~, rrt~rc H~~u~~n~ and U:hen De~elnprrcnt pursuant to thr National Nous~ng Act. as emended, anA appl~cable Regu-
:etl.~:i. ~lir:r;.ndrr. ~.?r
~ li; I! i.~nR e~ .eid a. t~~ .,t ~~~c~n ~fatr and thiti mstrua:ent are held b•,- the Secretaty o[ Hnus~ng and (irban Devrlop-
',i ~ a•~~~nti~lc .i~.+r:r » liru ut a r.::~rtRa~e ~n~uran~r premtur.~! w'htch sha?1 he tn an amount equal tu one-tw'rifth
~ ~ 1~ •1 ' ~..f ~ a~•-i:d?f prr ~ rntur: of thr acrra~;e out+tanding balance due on thr note computed w~ithout taking intu
. ..ir.! driin.~srrn ~rs .,r prr~~a)ments,
~ ~ .ur• t. ;ha• Rr~ :.~d :~~nts, ~t any-, next due, plus ihe pre^.iums that w•i11 next ~ecvme due and pa}~anle on poiicies
r t:r~ .+r.d :••hrr h.,r.,rd i~svr.~ncr co~~enng the r:urtgagrd property, plus taxes and assessments next due on the mort-
s~ ,,~;~,i ;-•~,,.~rt~ :~il r~rir..ated by the mortgageel less all sums alrcady~ paid theretor di~•~ded by the nur.;ber o( months
„~.,+p~~ : c•f. rr r. .~r:th pri•.,r t~, thr da!e whc•n such kr~und rrnts, premiums, taxes, and assessments w•ill become de-
.:nq .~•n~, ~.u. h.,,.c he• h~ ;C~ C~\' ^?Oft~'e~t C ~n trust t~~ pap sa~d ground rents, premwms, taxes, ar?d speciat assessments,
.,..d
A:t c.rnt: .n~•:1 in the• t:~'~• p~ecrdinK suFvectums ef this puragraph and atl payrr.ents to be made under !he note
=j ..z~•;: rrhti ~iie1: br eddrd t.Frther e~d the atikregate amuur.t thereof shall be patd b}• the murt~{ag~r each month tn a
_ ;'r pac•-rn! t• l,e~ epp:ied b) !he n-~~rtgagre to the (ul3oxsnR ~tems in the nrder set tor[h:
I., ; r~ ~:ur ~?~ar~ rs under thr ..,ntract ot insuranre w~th the Secretar}• ot Hous~ng and l:rban De~el~pment. ar monthly
,.~rtic ::eu : ~ ~,~~ttKdFr insurance premiuml, as the case map be;
I1~ ~:~,;,nd re•nts, taxrs. asirs~:rents, fire, and ~ther hazard insurance prcn~ums,
~III~ l:~trtr~t ~>n the :i:~ir secured hrrrb~•; and
' 1\'~ ~r.icnti~.r. ,~f thr prinr~pal of sa~d nute.
:1n~ de~ir~enc~• in the ~r:uunt of such a~regate :ronthl~• pay-ment shall, unless made good bt the mortKagor
pn~x the due :?.,te ~~t the ne~t such pa}ment, constitute an e~~ent of default under th~s mortgage. ~I'he mortgagee
~ ~-..,t cuiiect "l~te char~e" not to ezceed tu~o cents (2.C) Eor each dollar (SI) of each pa~•ment more than Eifteen
±1~~ ~~a~~ ~n .+crear~ to cocer the extra expense ~n~~ol~•ed in handl~ng deltnquent pa~~ments.
: y:
3 T'h~t ~f tiir 'otal uf the pa}~ments made by the mortgagor under of paragraph 2 prece~:ag shall exceed
the ar~uuat .~f p~~~r.;c•~ts ac~ually' m3de b~ the mortgagee, for ground rents, taxes and assessments and insurance
E:rt~~t:,m~. <,s the case r~a~ be, such excPss shall be credited b~• the mortgagee on subsequent payments to be
- m~~de b~ ?he murtKaKor. If, hou•e:er, the monthty payments made b}~ the mortgagor under lbl of paragraph 2 pre-
- crd~nK ~ha3: not be snfficient tu pay~ ground rents. taxes and assessm~~nts and insurance prem~ums, as the case
r.:,~~ be, when thr ;arr.e sha11 becrirr,e due and pa~•able, then the mortg~gor shall pay to the mortgagee any amount
: ~eress.+:~ t~~ ^:ake up ,;:e defic~enct, c;n or befure the date u•hen payment ~f such ground rents, taxes,assessments,
~n ~ns~rance pre^~.iu~~ ~halt he due. It ~t an~• time the mortgagor shalltender to the mortgagee in accordance with
thc• pro~ s~:~ms ~~f the nute s=_~cured hereb~•, ful; pa~•ment of the entire indebtedness represenied thereby, the mort- -
~ ~,,Kf•e sh~,t. ~n co.:~puttnK the ar:r,unt o( such tindebtedness, credit to the account of the morigagor al: payments
m,+dr under th~ ~ro~ es~o~s uf ~c ~ uf paraRraph 2 hereof wh~ch the mortgagee has not become obligated to pay to
the Secretan of Hous~n~ and l;rban Ueveiopment and any balance rema~ning in the funds accumulated under the
' ~~n~~. i~i~mc of caid p~r~~Kra~~h 2. If there shall be a deEault under any oi the pro~~isio:?s of this mortgage. re-
' s,:;?:~k tn yub::c s.,ie of the pre^~,isrs co~~ered iereby, or if the mortgagee acqwres the property otherw•~se after
drf.,uit, t~~• rturtK.,gec ~h.~l: ~,aplt. at the time of the commencement of such proceed~ngs or at the time the prop-
- ert~ is othr•ru~isF~ :+e-qu~red. ene bala~ce then rema~ncn~ ~n the funds accumulated under i of pa:agraph ~ preceding
a credit ~lKain`t thr• ar^ount of pr~nc?pal then rema~n~ng unpaid under sa~d note and shall properl~~ad~ust any
- F~.:~^~;e~t~ •xh~ch sh.~ll hat~c• been ;~~de under fu~ of sa~d paragraph.
~"I'h,~t he u~ill p.+~ a;l t.~xes. ~~ssessme~nts, u•ater rates, and other go~•ernmental or m~nic~pal charges, fines.
~~r :~r,~~~sit~„r.s, iur v,•hich pr~~~, i~ion h:~c not been made here~nbefore. and ~n defa~lt therea[ the r.^:ortgagee may pay
~ *hr• ti,,m~~. .,nd '`.i.ii hr w i:~ pr~~c:ptic delner the oEtictal rrc.-ripis therefor to the mortgagee.
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