HomeMy WebLinkAbout1922 ..:i: ' . . ..~~t'~ 1,~..r~l 1....\ 'A.f:..~q~ 1~1t' 11:~r !J ~alu .d.^.
• d. ancl c~~ rtt }~u[t ? hrrrid a.^.o t~'!1i ~
. a.~..,,, i7',r ..,~.t:.:. ' ..c•tc~P.,7 i(1c' :~~^'t
( .alR:~ Ul :y(~ f)l'L~U:iG '~1+]U.^,~~lX'tt•:.
I~F'r'~'1~F:!> AL11r11'~. .~nd thrsr prrsrnts ~itc ~~~r, utc~d and deli~rrrd upon tt.•.r f.~ll.~Uir.~, condtti~~:i~, to ~~tt:
T.:~~ ::.~utti.i~i)f .~j~'it't, l.~ ;`i~~ t2l' C.^l~L?F.t;;l't'. .~T ~~(Qt'I. t~lt' l.fIRClPi~~ ~1;fL O~ NINETF.F~I THOUSAND FOUR
~ul\i~~Gl/ N~L ~\0/1~~ ~
•••,z~ ,519,40Q.00 i. e~ ~ :c•acrd b~ ~ ::u,e c~f e~~en d<+te hrrr•,eith. ~.ti~~th ir.te-rst frr:n : ,,t~• .,t „ +
:•=t~- ~•t seven per .cntum t 7 ~1 pet unnum un ihr unpaid ba:ancr
_::~t:! F~~ui. The .oid pr:n;:i•,,,1 and tnic•tt•st sh~.l bc pa~~able at the uftice of
STOCKTON, WHATLEY, DAVIr ~ GUMPAHY, 100 West Bay Street, Jacksonville, Florida
;.~c .u~ h~~thrr plece t1;e hu.3er ~t the r.ute r.:~~ design:~te in u•nttng. ~n monthl~• ~nstat:ments of ONE
HUiv~REll T'w'EPiTY-NI2iE AIrD 20/100 Uo:idrs (5 129.20 coma~znc in~ on
::~r i~r~t u~,~ ot Jar~~sl~ , 1~ ~2 an~ on the first da} ot each month thereaftec untiltheprinc~pal
.~nd int~rest are tull~• p~td, e~cept thdt the final pa~•ment uf princ~pal and interest, if not sooner paid, shal! be due
..:,d p,,~:,hie un thr first da~~ of December, 2C01.
A.^.d ~h~i! dui~, promptl~, ~na tu:l~ pertorm, discharge, execute, efEect, compiete. and cumpt~~ a•ith and abide
;~•dch ..nd e.~~:~• the stipulations, aKree:r.ents, cor.dit~ons, and co~enants ot said promissort' note and of this
--~~~t:.~Re. then ih~s mort~a~,e and t~e estatr nereb~ crrated shall cewse and be nuil and ~•uid.
:1nd tne~ r„ortge~or furthez co~•e~<<nt~ a. follow•s:
1 Th:~t he u:Il p~,~ the ~ndebtedness, as hereinbefore pro~ ided. Pri~ ilege is reser~ ed to pa} the debt in w~hole.
.~r in ~n amount equal to one or more rnonthlc pa~ments cn the princ~pal th,at are next due on the note, on the first
c~I aR\ Tonth prior to maturit~-: how•e~•er, that H•r~tten notice ot an intention to eaercise such pn~•ilege
F~~~n at ieast thirtt 130) da~s prior to Fre~a~•ment: and, pro~•ided further, ihat in the e~en2 ihe debt is pai~ :n
<<nor to r,:atur~t~ ~.nd at that s~me it ss insured undez the pro~is~cns of the \ational Housing Act, he ~•i!i pa~~ to
~:~rt~u~,ee an .,djusted premium charQe ~t one pQT .entum (1°:.l of the onginal principal amount thereuf, except
*.':,~t ~n nu E'~'en; shall th~ adiusted prer.^.iusr. exceed the aggregate amou~t of premium charges w•hich woutd ha~e
`.~~•e•n r.+~c.ble if the mortgage had cont~nued to be insured until maturity; such pay~ment to be applied br the mort-
~agre up.>n its obligat~on to the ~ecretart~ of Nousing aad Urban Development on account of mortgage insurance.
? Th:~r, ,n order more fuil~• to protect the secur~t~• of this mortgage, the mortgagor, together w~ith, and in addi-
~?un :o. t~e ronthl~ pa~•ments under the terms of the note secured hereby. on the first day of each mont!~ untii the
~,~r. not,• ~ti fu!?: paid, :~i:t pa~ to the r.:ortgd~ee the folIou•irtg sums:
A:: .~u^c .,,llt: i~•n! to pr.~~ide thc• h. i~Srn c~rrot ~~:th funds to pac th~~ neat r..wtba~E t~~U7d[1iY prrniur.. tt ,h:s instru-
~~~nt un.i the- n:.tr ~i : urrc'. hrrrb~ en tr,su:e,~.. ,•t a.^:un:h}~ : har~;e +_~n :~c-u of a~:ort~a~;e insurancr prc-r.;cu:r. • if they are
h~ 1,? !hr >c•, rt tarv .~f H:~u+inF ead l'rban Drvri.~pr..en:. es fo:tuw's:
I 1! ..n,? 1•nF as ~aid no:r ~~t rcrn datr and this instR:mrn: are iasurrd or are reinsuted under the proeis:ons of 2he
\.,t.. na1 H~~u.ir.;; Acs an e~,,,unt ~Lf[3cient accu:^ulate :n thr hands of the holder one 11 month prio- to its due
.i~t~• ;hr dnnuaS r..:~rt~a~r msuren.r ~~rr~-.iusr.. in ..rder to proc?de such holdrr ut:h tunds to pay surNprer.u~rc: to the
rrrar~ H.~usin~; and l,'r:~dn Dr~rlupr-ient pursuant tu the ~ational Housing Ac:. as ar..ended, and appl~cable Re~,-u-
.v; i.,n. :},rrrunder, or
Il. II nnd tc~ Ion~ as said tt• tr r~rn datr and thia instrumer~t ~rr heid b~~ the Secrrtary of Nousing and Grban DrcrI~F-
r.~~r:;. d rronthly chartie (in lieu of a^:ortgage msurance pmmsum) ~~hich shall be in an amount equa: t~~ one-sw~Ifth
. 7 1: ~ ~~f ane--half prr centum o[ the a~•erage outstzading balance due un the note computed ~~ithout tak~ng int,>
~ . unt drlinquenctrs ~r prrpay~ments,
~ A~J.^. t"(;pol to the gruund renis, if ant•. next due, plus the premiums that w•il] next becot~e due and pa~•able on pol~cles
t t~r~- e~d ,:thrr hozard i~surance cucerin~ the ^:ortgagrd propert}•, plus taYes and assess:: ents nezi due on the mort-
;.~F~~.! ,,r..prrt~ (all os e~~!i:-.etrd b~ thr r.:.,rtRageel less all sums atread~ paid therefor 3t~ided b} Lhr number uf months
t,• ~ la,~.r brfc.rr :•nr r.«,nth pn_.r to the dafe w~hen such grouad rents, prrmiur.ss, taxes, and assessments u~;i become de-
:inq,:~~n~. ~u.h ~ur..s to Ga• held b~~ r.,ortgagee tn trust to pa}• sa~d ground rents, pretrtums. taxes, andspeciatassrssr.;ents,
A:: ~~oi-.r~~;s ^rnu.~n:•d in the tw~o precrd:ng subsect:ons of this paragraph and a:l p~yments t~~ be made under the note
.r. ;.r~•d hrr~ bti aheil bc- a~-~ded together and the aR~regate amount thereof shall be ~ aid F> the r..ortgagor each month ~n a
.~r..•:r ~~e~r. rnt t,-: he appl~ed b~ the rrvt:gagrr ;e thr foitcw~ing items in the order set forth~
~I~ p.•r^,tur. cher~Pti under the c,.ntract of insurancr x~th the Secretan~ ot Hous~ng and lrban De~•e:opcr.ent. ar :rozthl~~
...or~,c• icn Siru of r.:or[KaKr insurance premiurr.l, as the case r..a~ be,
~ Ii ~~;round rrnts, taxes, assessr.:rms. [ire. ~nd other hazard insurance prem:vms;
~lll; inic~rrst on the note secured herebv: and '
I~'i ac.~rtization ot the principal of said note.
An~ defic~enc~ ~n the a~ount of such aggregate monthtti- pat•ment shatl, unless r~ade good b}• the mortgagor
E~s~or to tFie due date c~f the next such pa}~ment. constitute a~ eti•ent of default under this mortgage. The mortgagee
--e~ coilect a"late char~e" not to exceed tu~o cents (~C) for each dollar (S1) of each pa~•ment more than E~fteen
~1~~ da~s in arrears to co~~er the extra expense im•olved in handlingdelinquent payments.
3. Thdt if the total of the payments made by the mortgagor under (6) of paragraph 2 preceding shall exceed
the amount of pa~•ments dctLal;}• m3de by the mortgagee, for ground rents, taxes and assessments and insurance
premiu:r:~, as the case ma}• be, such excess shall be credited by- the mortgagee on subsequent payments to be
;~,ade bc the mar.ga~or. If. how~e~~er, the monthl~• payments made b~~ the mortgagor under /b! of paragraph 2 pre-
cedmR s~all not be suffic~ent to pap ground rents, taxes and assessm~~nts and ~nsuranee premiums. as the ~ase
may be, when the same shal! became due and pa~•able, then the mortg~gor shall pat~ to the mortgagee an}• amount
~ecessan to maRe up the deficienc}•. ~n or befae tF~e date w~hen pa~•ment of such ground rents, taxes, assessments.
or inc1rance prer.;~ums shall be due. If at an~~ time the mortgagor shall tender to the mortgagee in accardance with
t~;r pn>~ i~r~ms uf the note secured herebti•, fult pa} men; of the entire indebiedness represented therebt•. t'~e mort-
~;e,Kee shai;. ~n computing the amount of such indebtedness, credit to the account of the mortgagor all pa~~ments
Tade under the pro~•isions of ~ul of para~raph 2 hereof w•huh the mortgagee has not become obligated to payto
tbe Secretar~ of Housin~ and ~.trban Deve;apment and any balance remaining in the funds accumulated under the
pr~~cc~~cmc of of sacd paragzaph 2. lf there shall be a default under any of the pro~•isiois of this mortgage, re-
sul!~n~. in a pubi~c sale ot the premises corered ierebp. or if the mortgagee acquires the property otherr+eise after
artdult. thr mortgagee shall app1~, at the time of the commencement of such ptoceedings or at the time the prop-
ert~ ~s otherw•~se acquued. the balance then remaining in the funds accumulated under (j-/ of paragraph 2 preceding
as a creait against the amount of principat then remair~ing unpaid under said note and shall properlyadiust anl•
~aiments u•hich sha11 ha~~e been~?ade under ia! of said paragraph.
Thdt he will pay all taxes. assessments. w•ater rates, and other go~•ernmental or municipal charges, fines,
nr impc~c~tions. far which proc~sion hds not been made hereinbefore, and in de{ault thereof the mortgagee may pa}~ ;
the sa;*;e, c~nd th<it he w•iil prompti~• de1?~•er the olficial receipts therefor to the mortgaQee.
Bo~i9~ ~~~p ~
.
, _ : : ~T
. . ~ = ~ _