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Home My WebLink About0395 ~ 3 ,ai ~°~~t'c_.+E•~~r ~I~n~~ h~•rc•M f~;l:~ ~.cat:.,nt tiu• tit!r tu s:sid :.~nd, and r~•rr~ part thcrr~~f. ~si~ t~•iil dc•t~-n,i thc~ sarne ~ .~~.,;:ist ti~~• :,~~~iui ~la~ms ol all pet.~~ns uhumscH~~rr. I~RnViD[:D ~l_11t~YS. ~i1~ t~:E5C p:ese^ts .~re exe: utec! and deliv~~red upon the tollowin~ conditions, to ~~~~t: 1'}ic• m.~rt~;.~Kur aKrc~es to p~~• the r.~oct~,ci~;ec•. or order, thr principal sum of fiIGHTEEN THOUSAND 6 NO/100 l)~~i:atti t~ 1$ ~0~0.0~ ati e~'~dencrd b~~ a nute uf e~•en date here~~•~th, w ith interest fru:r, d'ale .~t th~ oer centum { 7 -a) per annum on thr unE~aid balance ~ V ~ ~ ~ntil pa~d. The said principal and ~nterest shall be pa~able at the office of • STOCKTON, WHATLEY, UAVIN & OOI~ANY, 100 West Bay Street, Jacksonville, Florida :~r .,t such o;her p,acc as the ho:der a! the .^.ote des:gnate in writing, in monthly instal?ments oi ONB HUNDRED NINSTESN bc 88/100 Dollars (S 119.88 coma~encing on th.• f~rst da~~ uf JSAU81y . 1972 , artd on the first da~~ cf each month thereafter until the prtncipal .,nd intrre~t are tull~• paid, eacept that the linal payment of principal and interest, if not sooner paid, shal! be due .~nd ~,a~abie un the first da}• of December, 2~01. And shaii dul~, promptl}•, and full~• pertorm, d~scharge..~ecute, etfect, complete. and comply With and abide b~ ~•~ch ~nd e~•en~ the stipulations, agreements, conditions, and co~~enants of said promissor}• note and of this c:.~rt,~age, then this mortgage and the estate herebt crrated shall cease and be null and ~~oid. rlnd thr mort~agor [urther co~-enants as fo~lows: I. That he w~ill pa~~ the indebtedness, as hereinbefore pro~•ided. Pri~~ilege is reser~•ed to pa~• the debt in whole, : .~r in an anount equa: .o one or mcre :r.^.^.!ti~~• pa~•ments on the p~incipal that are next due on the note, ~n the first ' d~+~ ut am~ month prtot to maturit~~: i'r~~~+d~ ~i, however, that written notice of a~ intention to exercise such privilege is ~:i.•~n :,t least thirt}~ (30} da~•s prior to pre~a~•ment: and, pro~~ided furthec, that in the e~~ent the debt is paid in tull pri.~r to maturit~~ and at that time it is insured under the pro~•isions o[ the National Housing Act, he will pa~• to the mortg~Kee an adjusted premium charge of one per centum (1 0) of the original principal amount thereof, except th~t ~n na e~•ent shatl the :~djusted premiun exceed the aggregate amount of premium charges which would ha~~e F>~en pa}•able it the mortgage had continued to be insured until maturity; such pay~qent to be applied b~• the mort- ~;~Kee ~pon its obligation to the Secretar~• ot Housing and Urban Development on account of mortgage insurance. That. ~n order more iull~• to protect the securit~• of this mortgage, the mortgagor, together with. and in addi- ±~un to. the monthl~ pa~•ments under the terms of the note secured hereb~~, on the first day of each month until the sa~d not~• ~s full~ paid, w~ill pa~- to tfie mortgagee the (olio~•ing sums: ~ An e~. •u~t sufftcirnt ta pro~~dr thc• h~,idrr hrre~~( w~ith [unds to pa}• the next mortga~e insurance prer.iwm if this instru- ~ c:rnt end the nutr srrurr3 hrrr6~ arr insurrd, .~r a monthl~~ char~e {in liru o( a mortgage insurance premium) if thep are ~ :~.•id tn thr ~rcrrtan uf HousinK and l'rt~an Dr~~cl~prs:ent, us f~llow•s: _ -'u .L_ , _ o .e,i ~.P ~vi.~cn.v~i nndPr thP nr~~•is~nn~ of the - : ~~i ~ it o.a.i i~ttK e~ se..; a.~ic vi ~ i~.. .'.:i:c u.: a.:~::.:^°..• ..^,c4, , nr f i \at:onal H~~us~n~ Act, an am.,unt suff~c~rnt to arcu~ulate^in'the hands o( the holder one (1) month prior to its due ; ~ ~3.~,r the annuai mortgaKr tnsurance ptrmtum. tn urder to preeide such holdrr vcith tunds to pa~• such prem~um to the # ~rcrrtar~• of H~~us~nK and (7rb~n Drcelupmrnt pursuant tu the National Hous~ng Act. as amended, and appl~cabte Regu- ` t:.t~~~n~ th~•rr;~nder, ur € ,111 (t .,nd long as said m,tr ~f r~•rn d-atr and thts instrument ur held by the Secretarp of Nous~ng and Urban De~•etep- ~ r.~~nt. a r.:onthly churKe (in lieu ot a mortgaqe insurance prem~um) which shall be in an amount equai to one-t~•eitth ~ i 1 1_'~ of unr-halt per rentum of the avrrage outstand?ng balance due oa the note computed without taking into ~ vunt drlinquenc~es or prepapmrnts; ~ A su~ equal to the ground rents, if any. nezt due, plus the premiums that wiU ne:t become due and payable on policies ~ ~ ..1 tur and uther hazerd insurance cocermg the r.~ortgagrd property. plus laxes and assessments next due on the mort- : t,a~rd pr~~prrt~ iall as rst~matrd b~ thr murtgager) less all sums alread~• paid there(or di~•~ded by the number of months ~ ~ t.~ ~•tapsr before unr r.:onth pnor to the date whrn such ground rents, premiums, taxes, and assessments kill become de- ~ i~nqurnt. ~uch sums to br held bV mortgagee in trust to pay said ground rents, prem~ums, taxes, and special assessments, dn~i } ~ Ai: pet'r.:e~nts mrnuune•d ?n the two preceding subsections o[ th~s para~raph and atl payments to be mede under the note ~ +rrured he~r~-bY ~hall be eddrd together and the agKregate amount thereo( shali be paid by the mortgagor each month in a y ~tn.,lt• pa~'r:ent lo be appl~ed by the RlUfl~eAlt tu thr follovc~ng ~tems in the urder set forth: ~ ~ ~1~ prrrr:~um charge~ under thr cuntract of insuran.r r•ith the Secretar} of Hous~n~ and Urban De~elopment, or mo~thly cha:kr lin lieu oi mortKagr ~nsurance premtium), as the case may be, r~ ~ II i~;round rents, taxes, assessmrnts, Gre, and cther hazard insurance prem~ums; ~lil) mterrst on the note secured hereby; and ~ !Il'1 a^.~~rUZauon o( thr princtpal ot said nute. An~• def~cienc~~ in the anount of such aggregate monthly payment shall, unless made good by the mortgagor ~ pnur tc~ the due date of the next such pa~•ment, const~tute an event of default under this mortgage. The mortgagee r.~a~ collect a"late charRe" not to exceed two cents (2C) for each dollar (S1) of each payment more than fifteen t 1=) da~s ~n arrears to co~•er the extra expense involved in handling delinquen~ payments. ~ 3. That i[ the total of the payments made by the mo~tgagor under (6) of paragraph 2 preceding shall exceed ~ the amount of payments actually made b}~ the mortgagee, for ground rents, taxes and assessments and insurance ~ - pr~miums. as the case ma}~ be, such excess shall be ecedited by the mortgagee on subsequent payments to be : made b~• the mortga~or. If, however, the monthly payments made by the mortgagor under (6J of paragraph 2 pre- ~ ~ ceding shall not be sutticient to pay ground rents, taxes and assessm~~nts and insurance premiums, as the case } ma~• be, w~hen the same shall become due and payable, then the mortg:.gor shall pa~• to the mortgagee anp amount '-y necessar}~ to make up the deficiency, on or before the date when payment of such ground rents, taxes, assessments, ur insurance premiums shall be due. If at an}• time the mortgagor shall tender to the mortgagee in accordance with ~ thr pru~~isions of the note secured hereby, full payment o[ the entire indebtedness represented thereby, the mort- ~ K.,Kee shalt. ~n computing the amount of such indebteuness, credit to the account of the mortgagor all payments made under the provisions of lu) of para~raph 2 hereof which the mortgagee has not become obligated to payto ; tbe Secretary oE Fiousin~{ and Urban Development and any balance remaining in the funds accumulated under the 4 _ pro~~isicros of (j~i of said paragraph 2. If there shall be a defaull under any oE the ptovisio~s of this mortgage, re- ~ si:itinK in a public sale ot the p[Ctii1SCS covered iereby, or if the mortgagee acquices the property otherwise after : ±r~ def.~ult. the mort~agee shall appt~•, at the time of the commencement of such proceedings or at the time the prop- ~ _ rrh ~s otherw~se acqu~red. the balance then remaining in the funds accumulated under of paragraph 2 preceding _ a~ a credit against the amuunt of principal then remaining unpaid under said note and shaU properly adjust any ~ - pa~•ments u~hich shall have been made under (u1 of said paragraph. ~ 4. That he will pay all taxes, assessments, water rates, and other go~•ernmental or municipal charges, fines, : ur ?mpc~s~ttons, for which pro~•ision has not been made hereinbefore, and in default thereof the mortgav,ee may pa~~ ~ - the s~me: .+nd that he w~ll prompt(~• deliver the official ceceipts iherefor to the mortgagee. i ; aoox 1~ ~~cE ~ ~ _ ~ _ _ -