HomeMy WebLinkAbout1676 ~::i r'~~.~~,,: h~ re t~~, t.:;i~ ~.ti.~r:.~:tt tht tit;r t,, >.,id ;.,n:i. .~nd re.•:~. E~.~r( thrrrut. <<rtd u•ill cle~tr:i~? .i~r
.~~~..~tt~.~t !:ii• ;.~~.tIU: i i.~::n~ „I .~ii ~~rr.~~;t~ N-f1~~~r.~~uc•~-c•r.
f~F'(~\'I[1l•:l) :~1.11~11'ti. .~nd th~•se 4~n~.~~nt~ .,re c•~erutrd :~nd ~irl~~rrrd upun th~~ tullo~~~inK con~ittuns, !v ~~•it:
Ch~~ r.;,~ctK.~Rt,r .~Krrr, t.~ p.~~ thc• :~~„rt~;.~~.•~•. ~u u~dre. thr princip.~t u:m o( NINSTEEN THOllSAND FOITR
HUNDRED and 00/100
'~~~i ~ i. e~idrncrd b~ a nule .>f e~c~n datr her~~~~~ith. ~.•ith ?ntere~t frum datc• ~.t tiir
; t ~_19,400.00 ~
~•~<<' ~~i 8eV@A per crntum ~ 7'~) pct anrum on the unpaid bal.,ncr
;:nt?1 p.+i.f. 'l~hr ~;+~d pnnc•ip.~i and inl~rest sh,~ll be p,~~~bie at Ihe uf~tce ~~f
STOClCrON, WHATLEY, DAVIN ~ COMPANY, 100 ~lest Bay Street, Jacksonville, Florida
vr at tiu~•h ~~tl~cr pl.~ce~ .,s !he holder u[ the not~ mu~ dcsiKnatr ~n w•ntinK, in munthl}~ ~nstallments of ~N8 HUNDRED
T4TENrY-NINE 8tld 20/100 Dollars ~S 129.20 commenc~n~ on
ti~c~ t~rst d:~~ e~f Deeember . 1~~ 71 .:+nd on the first da~• of each month thereafter untilthepr~ncip~al
.~nd int~~rest are full~• paid, except th,+t the final p:it~ment o1 pr~nc~pal and interest, if not suonet paid, shall be dur
ai~d ~~.+table on thr fust da}• oF November, 2001.
. And sh~+l1 dulti .~~romptl~~, and tullt• pertorm, disch~rge, executr, eftect, cumylete, and cnmply veith dnd abide
e•,,ch and e~~er~, thc st~EfulaUur.~, aKrc~rmrnts, cunditions, and cu~•enants of satd promissory nute and o! this
:~~,~~rt~,~~c, thc~n th~s murt~;~};e :~nd the c~statt~ heteb~• ctcated shal~ cease ~~nd br null and ~i~id.
:\nd thr m~~rtF;.~~;ur (urthcr cu~cnants a. follo~•s:
1 1~hat hr :+~ill pa~~• the indebtcdnes.,as here~nbef~re pra~•~ded. Pn~•~le~e ~s rccerced to pay the debt ~n ahol..
:~r in ,~n ,~;r.uunt equal to one or more monthl~~ pa~•ments on the princip~+l that are next due on the note, on the first
:~n~ munth prior ta matunty: P.~~~:1~•d, however, that w•ritten notice of an ~ntention to exercise such pri~•ileKe
is R~~rn at teast thirt~ (~tl} da~s prior to pre~i~•ment; and, pro~~ided turther, that in the et•ent the debt is paid in
tuil ,~nor t~~ r.~atunt~• and ~,t that t~me it insured under the pro~•isions ot the lational Ho~sing Act. he will pa}• to
!he m~~r:~;.,Ree an :~diusted prem~um charKe of one per centiim (l~) oE the original principal amount thereof, except
' th,~t ~n nu r~ent shall th~~ ~d~usted prem~um c•~ceed the a~regate amuunt oi premium charges whirh would ha~~e
- b~•en n~:~able if the mort~a~e had continued to be insured until maturit~~; such pa~~ment to be applied by the mort-
* ~;.iRee npon its obl?Kation t~~ the Secretar}• of Housin~ and Urban [1e~•elopment on account of mottgage insurance.
~ That, in order more fully to protect the securit~• of this r^ortgage, the mortgagor, together with, and in addi-
: tt;~n to, the monthi~ pa~~ments nnder the term~ nf the note secured hereb}~, on the [irst day of each month unt~I the
~ ,.,id ~.~te ~ti full~ p.+~d, w~ill pay to the :*~ort~a~ee the iollow•in~ sums:
~
An ~::nt iuifi. irnt t~~ prucide thr h.~1~1.~r hrrruf w:th funSs to pa~• lha next raortKagr in>urance prrmiur. if thi~ tnstru-
e:rnt a~d thr notr ~rcurr~i he•r~ t+c err in>:urrd. ~r T..~r.th:~ : har~;r (in l~ru of a~wrtka~;r ?nsurance prrr.:ium! i[ thrS- arr
h. :.i b~ thi~ ~t•crctarc of H.~ustn~, and t'rt,on Drcc•l.~pr..rnt. as foilow's:
i I 1: ,~:~.i i~~nK as sa:d nutr ~,f ecrn datr and Ih~s instrumrnt are insured or are rrinsurrd under the proc~s~uns of thr
\..t~. n.,l H•~us~n~; Act, dn a^.->unt .u([inrnt t.+ ae•ru^~ulat~• :n thr h~nds o( thr holder one il) munth pnur tu tts due
,:.atr :he annu:+l ^:orttiakc~ insu:nn~e ur~rr.~um. !n t,~ E,•u~'~de such huldrrr utih funds to pa~• surhpremtum to the
r:~ tan ~~f Hou~~~~; end Urb..n Ur~r7uE~:r.~•nt pursuant tr the ;Vatiunai Hous~n~ Act. as amended, and applicable Re~u-
~ :.+;i th~•rrundrr, or
[f, lt .+nd ion~; as said n,•?r ,~f e•~ra da!t• and this ~nstrun:ent arr held b}• the Sectetar}~ of Houstng and Urban Dr~•rt~~p-
• cnt. r..mthlc charKe Un lieu of a mortgaRe msurance premiuml w•hieh shall 6e in an amount equal to une-t~ael(th
t 1'~ onr-i~al[ I) per centum o[ thr average outstanding bai:~nce due on the nute computed without taking ~nt~~
unc drlinyu~n.irs ar pr~~pa}r:,ents,
y ' a.,. r~ quai t~~ !hr Fround rrnts, if an~, nrzt dur, plus the prcrr.~urr:~ that w'311 next becor.:e due and pa}•able on puitc~rs
t:..~ .~n~i . thrr h.,rard lnsur.~nrc~ cocrring the n:•~rtkag~•d pr~pertc, plus taxes and assessments next due on !he rt:+~r.-
,,:i ~•r ~pe rri ~ eil as rstir.atrd bc !he murt~eRrrl !e•~s a:f sums elte-ad~' paid !her'rfor de~~~ded bc the number of months
t.~~ t,rt~.rr : n•~ r..,~nth pnor to thr da[r w'hrn ~u:h ~;round rents, prrmtur.is. tax~s, and a~sessments x~:11 bece.^.:e de-
~ ..-r.: u. h s,.. . tc be• hrtd b~~ -.~~rtRaKee m trust to pa~• sa~d ground rents, prem:ums, taxes. and spectal assessments,
' \i: • nt~ ~r.rnt~.:,~•d in the two preceding subsrct~ons of thts paragraph and all payrnents to be nade under thr noir
' ~,,r~ . t•~ ~hdl: hr added t:~ether and thr aK~;Trgate ar.~ount thereof shall be paid by~ the mortkagor rach munth in a
. .,:r ~:acc•~•n! c `:~r e~*,~.~eii b~ tFe r. ,~rt~;aKre to thr (ollovcing item~ in the ordrr set furth.
- ;.r~•c-.:urr ~ hdr~r~ und.v thr c.:ntra~! ~t insurenc~• u~tth the Sccretarc ~~t }l,~using and ~?rban Drce;opr.:ent. ~~r r,.onthiy
, h~:~r ~:n li~u ot mortgagr in~urance prer.;ium~, as thr case ma~• he,
21 ~ tir ~r.d rrnts, taxes, essess^ rnis, ttrc~, and v!her hazard ~ns~rance premiums;
(It~ ~r,trrc~t on thr no[e secured hereb~•; and
R" .~r, izauon o( the pnnc~pal et sa~d note.
- :1m def?c~enct• in the ariount of such a~regate monthly pa}•ment ~hall, unless made Kood by the mortgagor
l.n~~r ~o the due date uf the next such pa}:rent, constitute an event o( de(autt under thts mort~age. The mortga~ee
co~iect ~"iatr cnarKe" not to exceed t;~•o cenis (2~) Eor each dotlar (S11 0! each pa~~ment more than fifteen
_ c;a« i~ arrears to co~er the extra e?cpense im•o1~~ed in handling delinquent pa~•ments.
That if the total ol the pa~ments made by~ the mortgagor under (f~/ of paragraph 2 preceding sfiall exceed
_ the• .~~^our~t ot patir~e•nts actuall}• m3de b}• the mortgagee, far ground rents, taxes and assessments and insurance
- f~c•r~u^~. !hr :.,~e mat• be. such excess shall be eredited by~ the mortgagee on subsequent pa}~ments tobe
~ :^~ci~~ h~ zhr ^;or!Ka~ur. lf. h:,u•e~~er. !hr monthly pa~~ments mdde b~• the mortgagor under !hi of paragraph 2 pre-
~ : e~d:n~ ~~~.,11 nut be suff~cic•nt to pa~~ ~round rents, taxes and assessm~~nts an~ ~nsurance premiums, as the c.~se
- bc•, when the s~me shail becume due and pat•ab1e, then the mortg~gor shall pa~~ to the mortgagee an}• amount
z ~~•cE~~s.,n t~~ :~,aict• ~p the defic~ency, c;n c>r before the date w•hen pay~ment of such ~round rents, taxes, assessments.
.:~~ur,:n~ r prer~iu^:~ ~hat: be due. If :,t ~n~• time the mcnt~agor sh.+lltender to the m~~rtgagee in accordance w•ith
•h~ r:,~~.!<;,,~s c~f :he r,r~tt• st•cared hc~reb~~, ful] pavment of ihe entire ~ndebtedness represented thereb~•, the mort-
r s^.+11. in r:~mF,uttnR the .+rnuunt uf such ~ndebtedness, credit to the account of the mortgagor a!I pa~•ments
_ ~~~,~'.f• undcr t}ic• pro~~s~ons ot !~f, uf paraKraph 2 hereof which the m~rtgagee has not become obi~gated to pat~;o
= ~!:e Sr~retar~ of Fio~sinK and Urb~n Uevetopment and anti• balance ra•ma~n~nq in the funds accumulated under the
= l.:~~.~:~.•ns ~:1 uf s.j~d ~~ar~iy,rv~>h ? If there shail be a default under any uf the pro~•tsio:ts of thts mort~age. te-
in ~ t,~b;u- s~~1r ut the pr~•mitirs c~~vered ~ereb~~, or ~f the m~~ttgagee acquires the property otherwise after
1~•?;,..;t, thr murtF;vgee• sh..li ~pply. .~i the time of the commencement of such proceedinKs or at the time the pmp-
- e•r'•. -~the•r.~ ~s~• :+cqu:rrd, th~• b~L~ner then remain~nK in thr funds .iccumulated undet i of ~~ara~raph 2 ptc~crdinK
- cr~•~f~t .~K:,inst th~• amuunt of princip~~l then remain~n~ unpa~d under s.~?d note and shait propetlyadjust an~~
~,:.~,^;f•~;s r.hich ~h.,ll h:,~r been made under l~l) of ti:,id paraKr~Nh.
_ a~fh~t he wtl! p~V all !.~xes, :+tist~ssments, w.~tet rr~tes, and other Ro~e~rnment:~l ur mumc?~1 charKrs, Gnes,
~~r i~ t~~,tiiti•,r~s, f~~r w~hu h pruti iti~un h.~~ n~~t bcen made hen•~nbefore. .+nd in def~tult there•ui the r.:.x[K~~ee m~+~~ va~
t's,~ .~n~3 'l~.~r tir •x•i'.~ prnm~,tl~ di~l~crr the off~c~a! receipts there~fur to the~ m~~tlKager.
B:,R~.1J~ FAG:~~~S
_ I..I ~ ~