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Home My WebLink About0894 ..~:ci r~ ~,r!~;.;F~,ur r?,x•: hrreb~• full~ ~earr:+nt thE~ tit!r to ~aid land. ~nd r~er~ part thrreot. .ind ~~•il; de~t~•nc? ti~~• ..~r.~e ,~,.,~:ii;i tnr 1,~~~ful cl~~irr,s o~ :+11 prrsun~ ahumtiue~•c~r. Pfln\'1DEI) aLll'AYS. ~nd thesc presents .+re exeruted and del~~~ered upon the followinK condittons, tu wit: l'he ~~at~;~~..~~ ~~~rrs to pa) ihc mc::tKa~;~c. Jr otdet. th~ principal su:.*: ot EIGHTB~I THOlJS4.~TD EIGHT HIJNDRSD S~ NO/100 t~.~l.~~rs t~ 18~$OQ.QQ 1, ~=s e.?d~•nced b~~ a r.uie of e~'en dat~ hercwtth. ~cith intecest ftum date ~~t thr r.~te uf seven pe~ centum ( 7-';,) pet annum on th~ unpaid balance TL.~ ,~1 ~,..a .nrs~rnct chsall hr+ na~•ahle :a~ ihe ni[ice of r:....:~ . . ~ ~ a . STOCKTON, FIHATLBY, DAVIN ~ OOI~'PANY, 100 West Bay Street, Jacksonville, Floride ~ •.~r ~,t such other place as the holder of the nole ma}~ des~gn;~te in v?riting, in monthly instatlments uf ONE ~ HUNDRED TWENTY-FIVfi bc 21/I00 Dol:urs (S 125.21 comr~encinK en ~ ;he tirst da~• of January , 19 72 , dnd on the first da~• uf each month thereafter untiltheprincipal ; and lfllrl~St d[E' full~• paid, e~cept th~t the tinal payment of principat and interest, it not sooner paid, shall be due .,nu pa~able on the first de~• ot December, 2~01. tlnd shalt dul~ , prompth•, and [ull~• periurm, d~scharge, execute, effect, complete, and comply w ith and ab~de b~ r~+ch and e~~er~• the stipulations, a~reements, conditions, and corenants of said promissory note and of this r~ortti:~~;e, then th~s mortRage and the estate hereb~~ created shail cease and be null and coid. And the mortgagor further co~~enants as folluw~s: 1. That he µ•il! pa~• the indebtedness, as hereinbefore procided. Pnvilege is reserved to pa~• the debt in whole. .~r in an amount equal to one or more monthl~• pa}•ments on the grincipal that are next due on the note. on the first dc~~ ui am month prior to maturity: Y.<~~ t;~~•u. howe~er, that written notice of an intention to exercise such privilege is ~~~•en at least thirt}• (30) da~•s prior to prepa~•ment: and, pro~~ided further, that in the e~~ent the debt is paid in 1~!1 pnur to maturih~ and at that time it is insured under the pro~•is~ons ot the National Housing Act, he W il[ pa~• to the mortgagee an adiusted premium charge of one per centum (1 0) of the orig~nal principal amount thereo[, except th<~t ~n no e~•ent shall the adjusted premium exceed the a~regate amount oE premium charges which a•ould ha~•e been pa~able iE the mortgage had continued to be insured until maturity; such payment to be applied by the mort- Ra~ee upon its obligation to the Secretart~ ot Housing and Urban Development on account of mortgage insurance. 2. Thet, in order more fuilp to protect the securit~• of this mortgage, the mortgagor, together with. and in addi- :~un tu. tfie monthi}- pay:nents under the terms of the note secured hereby, on the first day of each month until the sa~d note is fuliy~ pa~d, vvill pa~~ to the mortgagee the following sums: An ar _~unt suff~r~rnt to provtdr the holdrr h~rea( with funds to pay the neYt mortgage tnsurance premiu:r. ?f this instru- mrnt andthe notr secured hrrrb~• are insured, or a monthl~• rharge (in liru of a mortga~e insurance prcm~umi if they are hrld h•, the Srcretary~ of HousinK and Ur6an Drvelopment, as f~llovcs: I( and so long as said note ot eern date and this mstrument are insured or are reinsured under the pro~•~siuns of the v. u....~..... s.-. a.. a..,~,~~or ~~~(f.~~.•nt r., a~~-umulate in the hands of ihe holder one (1? month prior to its due detr`the annuat mortgaKe ~nsurancr prrm~um, m urder to proti~ide such holder w~th tunds to pa~- suchprenwm to the Srcretan• of HuusinK and Urban Dr~•elopment pursuant to the \ational Housing Act, as amended, and applicable Regu- ` i l..uons therrunder, or ~IIi I( dnd so long as sa?d nutr uf rcrn date and th~s ~nstrument are held bp the Secretary of Nous?ng and Urban De~•rlep- r..rnt. a mnnthty charge (in lieu of a mortgage insurance premium) wt~ich chall be in an amount equal to one-t~cel(th il 121 of one-haif (ii) per centum o( lhe average outstanding balance due on the note computed without taking inw errount delinquenc~es or prepayments; : A~ur.: rqual to tfie ground rents, i[ any. next due, plus the premiums Ihat vcill next become due and pay~abte on policies ~f fu~• and other hazdrd insurance covermg the mortgaged propertp, plus taxes and assessmen:s next due on the mort- ~aK~•d prope•rtv fatt as rsi~metrd b} the mortgager) less all sums alreadv pa?d therefor dis•ided by the number o[ months t~. ~•tap.r before unr r.~~nth pnor to thr date w•hen such ground rents. prem~ums. taxes, and assessments cril! become de- I l~nqurnt, .u~h ~ucr.s to br held by mortgagee in trust to pay said ground rer.ts, prea:iums, taxes, andspecialassessments, an~ ~ t ° All pacn.rnt~ menU~nrd ~n the two preceding subsecuons of this paragraph and all pryments to be made under the note ; srcurrd herrb~• shall 6e added together and the ag~regate amount thereoE sha11 be paid by the mortgagor each month m a ! € sinklr pa}•n.rnt t~ be appl~ed by the cr.ortgagre to thr follov:ing ~tems :n the order set forth: ~ i i1) prrm~um churges under the contract of insuranir vcith the Secretary ot Housine and Urban De~•elopment, or monthly r charKe (in Leu of mortgagr ?nsurance prem~um), as the case may be, ; ? i1h Kround rents, taxes, assessments, f~re, and uther hazard insurance premiums; ~ ilil) ~nterest on the note secured hereby: and ; tl\') arnortlzation of the principal ot satd note. ~ Anp deficiency in the araount of such aggregate monthiy payment shall, un(ess made good by the mortgagor ~ priur to the due date of the next such payment, constitute an event of deEault under this mortgage. The mortgagee ~ ~ r:a} collect a"late charge" not to exceed t~•o cents (2C) for each dollar (S1) ot each payment more than fifteen ~ (1~) da~•s in arrears to cover the extra expense involved in handling detinquent payments. ~ ~ 3. That iE the total of the payments made by the mortgagor under (b) of paragraph 2 preceding shall exceed : ~ the amount of payments actually made by the mortgagee, for ground rents, taxes and assessments and insurance { ~ ~ ~ premium=, as the case may~ be, such excess shall be credited by the mortgagee on subsequent pa}•ments to be ~ m~de b~• the mortgagor. lf, however, the monthly payments made by the mortgagor under /61 of paragraph 2 pre- ~ ceding shall not be sufticient to pay ground rents, taxes and assessm.~nts and insurance premiums, as the case ; ~ may be, when the same shall become due and payable, then. the mortgsgor shall pay to the mortgagee any amount ~ ~ necessar}• to make ap the deficiency, on or be[ore the date when payment of such ground renis, taxes, assessments, ~ or insurance premiums shall be due. If at any time the mortgagor shall tender to the mortgagee in accordance with the prorisions of the note secured hereb}•, fu11 payment of the entire indebtedness represented thereb5•, the mort- - ~agee shall, in computing the amount of such indebtedness. credit to the account of the mortgagor all payments made under the provisions of /u1 of para~raph 2 hereof which the mortgagee has not become obligated to payto - ibe Secretary of Housing and Urban Development and any balance remaining in the funds accumulated under the pro~~isiuns of (h/ of said paragraph 2. If there shall be a default under any of the pror•isiois of th~s mortgage, re- : = suit~ng ~n a public sale ot thc premises covered ~ereby, or if the mortgagee acquires the property otherwise after ; default, the mortgagee shall appl}•. .~t the time of the commencement of such proceedings or at the time the prop- t erh• is utherwise acquired, the balance then remaining in the funds accumulated under /~~1 of paragraph 2 preceding ~ ~ as a credit against the amount of principal then remaining unpaid under said note and shall properlyadjust any ~ ~ payme~ts which shall have been made under (u! of said paragraph. ~ ~ 4. That he will pay all taxes, assessments, water rates, and other go~•ernmental or municipal charges, fines, ~ _ or impositions, for which pro~•ision has not been made hereinbefore, and in default thereof the mortgagee may pay ~ = tht• same; and that he will prompttt• deliver the ufficial receipts therefor to the moctgagee. q rss , 8 F' - s, ~~4~R ~~/V ~ ~ £ ~ Yr~ i , . - ° - ~ , - . - - = ~ ~>r ~ ~ , . ~ - - _ _ _ . _ ~