HomeMy WebLinkAbout1530 .:t~? ..:il+',~i',i~f ...!c'~ ~2t'it'f~~. ~:.:1\ ll.~L'.~:ll I}:l• llt.t• Ii> >UIU l:,n~i. .,~~~i t•\'t'L\ E).tl~ l}lt'It•U~. :e!1(~ N'li~ t~t'~t•fll? [~it' n.~:'t'
~.:.,in~: t;i~• L,~~iui ~ i.~~;;:s u~ .~I1 ~~~•rs~~n~ ~~h„r..~cx•~rr.
PI?(1~'IU~:U :11.11A1'S. ~+nd t}ir~e prrsr~its atr e•~c~~ utc•d -and dc•ii~rrE•d upon the following cond~Uoits, t~ w•tt:
I~hi• :r,urt~;.~Rur .~K~res ti; p,,~ the ^~i~ttk;,~kr~•. ~~r ordrr. lhc• puncipal sum o~ SBVENTSBN THOUSAND
TWO HIfNDRED AND FIFTY AND NO/100
[~~~~i:~~s ~j 17~250.~0 i. ~~ldrncrd b~ nute ~~t ~~rn date'~err~•ith. ~v~th interest frum datr at tnr
c:~te ui SeVeA pc~r cc~ntum ( 7;-) pti~r ~nnum on the unpa~d balancc~
un:ii }~:~td. The sa?d princ~pal und inte[r~t shall bi pa~~+ble :~t the uffice of $COC~CCOII~ Hhatley, Davin ~
and Coc~any; 100 West Bay Street, 3acksonville, Florida 32202 ' `
.v .+t ,uch uthc•r place .~s thr hulder ot thr nute m~t drsignate in w•nttng, ~n monthl~• ~n~tallments of ONB
HUNDRF.D FOURTBEN AND 89/100 --------------n~liars l~ 114.89 l. commenc~ng un
thr t~rst duc ~t December , l~) 71 , und on the tirst da~• ol` earh month thereafter untiltheprlncipal ~
,~~zd :~~;er~.: AIC p:+~d, escept th.~t the final va~ment uf pnnc~pal and interest, ~f not suuner peid, shi~ll be due :
ble o~ th~• f~rst da uf Nove~ber 200I. ~
.~nd i~a~.~ s
r~nd ~hall d~lt, promptl~, and full~ Perform, d?scharge, execute, et(ect, compiete, and cumply~ with and abide
h~ ~~.,cn and ecrr~ th~~ stiF,ulatiuns. :~Krc•emrnfs, condit~~ns, and co~~enants of said pcomissory note and o1 th~s
r.•.~rrR~.,F~ , thrn this murt~~+~e and thc~ estatc• herrb~~ rrrotcd shall cc~~~se ~nd h~ null and ~uid.
:\nc~ thr cr.~~rt~,.~~;t~r (L:rthcr c~~~cn~nts as foll~u-s:
1 1'h.,t he •.eilt p.~}~ the ~r.debt~dness,as hereinbef~re pru~ided. Pn~•~lege ~s re~en•ed to pa)~ the debt in w•holr.
~~r ,~a ;~rr,.~unt cquat tu one or more monthl~• p~~~ments on the principal that are next due on the note, on the first
r..,~ ~~t am month prtor to matur~t~: P.,.~: i~ howe~~er, that K•ritten notice of an sntention to exerrise such pn~•iteKe
i: ~•ici•n at 1~~~+st th~rt~ ~30? da~~ pr?ar t~ prepa~ment; and, pror~ded farther, that in the erent the debt ~s puid in
fu:l ,~n.,r to r.~atuntt and at fhat_t~me ~t ~s ms~red undPr the procisions of the lational Housing Act, he w•ill pat~ tu
` ~iie :^~~rt~;.~kee an .~~i~usted prrmiur :•har~e of one per centum (I`~) ot the orig~nal principal amount thereuf, except
;t;,,t in n.> r~ent sh.,ii the adlusted prem~um exceed the a~regate amuunt of premium charges u'htch would ha~•c•
' '.~~•rn p~~~.+ble if the mortga~e had cuntinued to be ?nsured until maturrty; such pa}•rrent to be apptied b5~ the mort-
~;.+c;ec~ up~~n its obl~Kation to the Secretar}• o! Housin~ and Urban De~•elopment on account of mortgage insurance.
? 1'hc~t. ~n .xder more fulIc to protect the secunt~~ of this mortgdge, the mortgagoc, tugethec u•ith, and in addi-
~ ti,~n t~~, the munthl~ pa~•ments under the terms of the note secured hereby, on the first da}• of earh month until the
~ ~.~:ci cutr ~s iull~ p:+~d, w~ll }~ati tu the T~rt~aKee the fo11c»~in~ sums:
S Ar. .,c :unt s;;ffi. u•nt pr~_~~~de !hr h~.~3~•r h~•re.~f w~th funds to pa~~ thr nett mort~;dkr tn~urancr prr.^iiu.^.. t( thi~ :nstrc-
i
rrrnt endthr n.~tr sr:uae•d hrrrt~: ~rr in~urrci. • r e~r.,;nth!~ :hattir t~n I~ru ~f a murtgakr tnsurancr pre•.^.iuT:l ~I Ihr~ are
= h. i:i M thr ~r~ rcter~' i~f N.~usin~ er~:! l'r!~.+n Dr~.~iopr..ent. as [olluws:
1~ It .~n,+. l~+n~ as +d:.i n•:te rrrn datr and ~h~s ~nstrumrnt arr insurrd .~r are retnsured undc~r the procis~c~ns of thi•
X.+c: nal H~~u~i~~; A.'t, en en._un! ~ulfturnt tu a. cu.^.:u:ate ~n thr hands of thr holdet ~~ne (il r..onth pn,,r to rts dur
~ ±..;r t~ir enn~al c~~~rt~d~r i:~su:anrr prc~^.iu^, ~n :•rdrr t:~ pr~ctdr s~ch huldrr u~i:h funds tu yay surhprr:r.tum to the
5~~~ r. ~.+n !1•.usin~; an1 t'r!,dn U~~srlu,+.^. rnt tiwr~u.+nt t~~ the \atwnal Housinb Aii. as amrnded, and apptt: uble Rr~;u-
.nti..~u ts:rtr„ndrr, vt
ii lt .+~~f L:n~; as :aiu _t r~~•s- :ia'r an3 thi> instrurrnt .~re held t,~~ the $ecrrtar}' ~f IloustnK artd Utb.+n Dr~rli~t~-
~nth!t ch~r~e i':n ?seu n[ a c:.~rtga~Lr insurance prem~uml virhich shatl be in an amount equal tc+ _~ne-twelfth
, i 1: ..t unr-hu1[ prr ~ rntum uf thr avrrege outstanding halance dur o~ the note computed w~thout taking ~nt~.~
. •un: ~~rltnyurn~ ecs .u pra~G7a}r. rr.ts,
~;:,,i1 te th.• ~r~ ::nd rrn=... if an~. nrrt :iur, ,lus the prrT.~ums that u1:1 nrxt becume due and pa~able on puL::rs
- , t:r~ .+n i..!h~~~ h.,:.,r:1 insureri~r ~~~.rrmg the r•_ rtKdg~•:1 pn•pert~. plus taxes ~nd a5sessr:rnts nr~t due un the rurt-
:y
; ,,,i ~,r r!~ ;ei: .~!~r...~!.•d h•. th~~ ~~r.~;a~;re-+ '.e•ss alI sums alrradc paiA thrreL~r d~cided bv the nur:ber o( mor.ths
,~!~rt rr ri.• r,~nth p:i ~r s~;hr datr ahr.^. tiurh kr~und rrnts, p:e~niur„s, tazes, and a~srss~r.ents tic:ll b~~omx dr-
„ ,;1, h-,. . t t i• hrld h~ rtKeKrt ~n :rus! tv pa~• satd Krc~und n~nts, prrmiun~s, tazes, and sprctul assrss~ents,
p... ~!3 r.~~d tr; fhe te:u prr.'rd~nt; subse~ Uon~ o[ th~s paragreph and all pa)mrrtts t~~ ~ TdI~P 7[ldti l}Sr n~,ie
= ~..r~ i F.~ `.,s ~i.e:i b.• e.2.fed t~ Kefhrr and Ihe e~Rtr~ate a~:~~unt thrrrut shell t.e paid b~ the rt.o?iy;ay,•~t rach r...,nth in u
, rt;t . ..;:ird b: 't:r -..~rt~e~,rc r•., thr f.,3i.JVC~nh itrr.s in thr ~~rder set t_,rth:
i~ ~~rr-~ur- ,!.er.r< "n.i.•~ thr ~•nt:a~! •~t IfitiUfaA:a' N31}I !he >rcrrtart of H•~us~nK an.j l'rb+n Urvr:up.^.:r~[. ur c:~~r~th:t
nor~;r , in licu of c.c,rt~aRr i;~~uran.'r prr:r.tur*. i. a+ !tir i ase may be,
_ 1(~ .,r,~un: r~•nts, taars, ~»rs~^..•nts. fur. end .thrr nerard ~nsuren~e prre:iu^~s,
~ Ill ~nt.~rc~>± ~n thr notr se•-ured he?eGy~; and
{t'~ rtira!~~m uf thr princtpal ot sa~d note.
\n~ d~~f~r~rnc-ti in thr arount o[ such a~r<rKate ~^onthlt pa~•ment ~hall. ~nless made ~ex~d t~v the murt~;<~Kor
,~:i~~r t~~ ~i7r ci:~e d.+te o( ~he• next such pa~r^ent, con~t~wtr an e~•ent of defauit undr•r thts murtKaKe_ The mortRa~ee
r.~~ c~~llect "l,~ta~ ch~,rFr" ~ot to exceed tu•o cent~ (2Ci fur each dul:.+r l51) of each pa~•ment more than f~fteen
" ~ 1~~ d<+~~ ~n .+rrr.+rs t~~ co~•er the extra expen~e ~mo(~•ed in haadlin~ delinquent pa~•ments
= Tti~t if the t:~tal ~~f the pa~ments made by the mortgagor under l~~~ of paragtaph 2 preceding shali exceed
tht• .~-r,~~n; ot E~d~mE~nts actualh• m~de b~• the ^ortgagee, fer ground rents._ taxes and atisessments and ~nsurance
~ r~~r. ~u:-:s, r7r c a.e r~t bP. such ezcrss shail be credited bv the mortgagee un subsequent pa~~ments tu be
- r.,.~,ir h~ thc~ m,~rtK~~ur. I[, huv:e~er. thr monthl~ pa~ments m~de bp the mortgagor under l1~t of peragraph 2 pre-
_ < rd;n~ :h.,:i nut be~ ~u(fic~rnt to ya~ ~,rvund rents, taxes and assessm~•nts :and ?nsurance prem~ums, as the c:~~e '
~•.n hr, uhen t?~r ~aF~e shdl! ber~~r~e due and pa~able, then the mortg;.gor shali pay to the murtgagee an~• amuun! ~
iG f
~~•~-~•ti:.3tt 'n rt',.~kE• lli.'.ht~ def~c•iPnrt~.c+n Of before the date R'F7P[1 Pd~-f:1PI1~ OE such qrwnd rents, taxes.assrssments,
- ,n•.:i.'.~:lt t• t~:t~T~::C'~ ti:;dti F~f• ~i:t•. ~t e' :i.^.\ !I.^.tP itlf Jtiuii~:~~Of tif)nl~ ~NT1C~Pt [O ftilE ^1i)((g:f~£t lfl accordance \4'l~}1
- ~'it~ ~r. .~~;~~n< ~~t '.!ir s°cured h~•rc~ht• fu:i p~tr.~rnt ~~f the e~t?re in~~ehtrdness represented thereb~~, the mort-
~ ~,:~~.~e~ ~.h,i;': ~n ~-~~~Fut~nK the <+-:uunt uf such indebtedness. credit to the accuunt of the morigaRot all pa}ments
~~,~:~c• undc~: th:• F~r~~~ es~~,ns uf r.>t par,,Kra~,h ? here~~f u~hicn the mor+gagee has not become obligated to pay tv
~ r!.r Srcrc~~:,rt of Nousin~ .~nc3 Lrb.,n Ue~eiopment end an)' balenct~ rema~n~n~ in the funds accumulatrd undrr the
~.;,.~,:~;,~r;~ .~t • c•t 5c~~d }~~r:~Kc.+E:h ' 1( thrre sha;l be a def.iult under am• 01 the pro~i~iois .,f this mortKage. re- ~
' .;:'r;n~ in ~:uh'u s,~le .~f the prrc;ti.e~s ~~~cr:ed ierc~b~~. c~r if the Turtgagee acqu~res the property otheru~se after '
~'~'!.,uit t!,~' ~^ur~k•*krr• ~h.,lf .~r~ti~. .~t the t~me oE !he commencement of such proceed~nKs or at the tine the prop- ;
,,;r, i. ;~t`~rc~~sc~ .~cq~ire•d.thr b:ai.,~ce tFen rema~ntnK ~n the funds accumulated under t' i of paraKraph 2 precedtn~ i
_ ,i cr,•d~t ,,~sjnst thr ~+m~.~unt of princip:,l then rem.+in~n~ unpa~d undet s~id note and shall properl}•ad)ust an}~ ~
- ;.a~mt•n'. ~..;;ich ~hat~ h~,:e been m.~de under •uJuf se~d paraKraph.
a Th<+t he wili p~~ atl !~,x~s. .+sse~se~ent~. ~+eter rates, and other ~{u~Qrn,^.~ent.~I c~r mun~cipat chatgrs. f~r.es,
- ;~r :.TE~~~~it~;m,. !ur whu h pru~ is~t~n h.,s not becn m-+de herrinbefore. and in drfault thereof the mortgagee ma~• pac
th~~ :,,r~e~, .,.:d rh.+t Flf' N"I~1 ~~f~}T:FI~i~ drli~er the uffic~al ceceipts therefor to the mortgagee
- B~~r~t7U PacE1529
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