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Home My WebLink About0949 .,~u: "'~~i!~.~i•:: ;l~u•: t:c•rrh~ t:;~~~ t~:+IC.+II! I:lr lli:t• li~ ~:ild !and, and P~'t(~ ~tfcl IElttt•Ol. ~+RCj ~~•1!i C~t`It•i2~j iflt ~a!?:c j ,,f_.,ui.~ thr i.~:~(ul cia~rr:s oi all p~rti~~ns whun~ticx~rr. ~ pFa(l~~~p~.[) A~\1AYS. and these prrsents ~re ese~uted and deG~•ered upon the follow~~ng conditions, ta ~~•it: The mort~;agor .~Krc~es to p~~ thc~ :r.ort~a~;~e. ur ~rder, th~• principal sum of SBVBNTBBN T~USAND NINB HUNDRED AND FIFTY AND NO/108 t>.~i:~rs t~17~95~.fl0 L as e~idrnced b~ a r.~te uf ecen date herew•?th. w•ith ~nterest frum date t!~~° r.~te oi seven per centum ~ 7 -ol per annum on the unpaid baiance ;~at~i paid. Thc said principai and lnterrst snati ~c pa~~aDir at tne oiiicr ui STOCKTON, ~UTLEY, D~AVIN ~ OOMPANY, 100 West Bay Street, Jacksonville, Florida :~r .~t ,uch o:her p;ace ..s the holder of the note m~~• designate in w~riting, in monthly tnstaliments ot ON8 ~ HUNDRID NINETEEN AND 55/100 Dolldrs (S 119.55 comn,encing on ' ih~• flrst dd~' Ot Deceanber . 1`~ 71 , and on the first da~• oI each month thereafter until the princ~pal ~,~d ~nterest are tuil~~ paid, eacept that the iinal pa}~ment of principal and interest, it not sooner paid, shall be due anri pa~able on the first da~ of November, 2001. ' r~nd shall duly~, prumptl}•, and Euil~• ~rtorm. discharge, execute. effect, complete, and comply w•ith and abide b~ E~~i!~ and e~~ery the st~pulations, agreements, conditions, and covenants of said prom~ssur~~ note and of this r:.~rt~,:+~;e, then this mortgage and the es'ate hereb~ created shall cease and be null and vuid. ~nd the mortgagor fucther co~•enants as follov~•s: 1. That he w~ili pa~~ the indebtedness, as hereinbetore pro~~ided. Pri~•ilege is re~er~•ed to pa~• the debt in whole. ur in an amount equal to one or more monthl~~ pa}~ments on the principal that are next due on the note, on the first oi an~ month prior to maturitS•: f'r,:: zs:~~r, houever, that written notice of a~ intention to exercise such privilege ,s Ei~~en at least thirty (30) da~s prior to prepa~•ment; and, pro~~ided further, that in the e~•ent the debt is paid in i:.:: pnor to r.iaturit~• and at that t~me it ~s insured under the pro~•isions ot the National Housing Act, he w ill pa~• to the ^:ortgagee an adiusted premium charge of on~ per centum (1 of the original principal amount thereaf, except th~t in no e~•ent shall the adjusted premium exceed the aggregate amount of premium charges which would ha~•e been pat•able if the mortgage had continued to be insured until maturity; sucte pa~•ment to be applied b~~ the mort- gagee upon its obligation to the Sec~etar~• ot Nousing and Urban Develop~ent on account of mortgage.~nsurance. That, in order more fuily~ to protect the securit~ oi this mortgage, the mottgagor, together with. and in addi- ~ :~on to. the monthl~~ pa~•ments under the terms of the note secured herebq, on the tirst day of each month until the ~ ~ ~a~d note ~s tuil~ pa~d, w•ill pat to the mortgagee the tollov?ing sums: ~ : An a^. »n: s:.ffi~ irnt to prucide the h.~tder hrreot w'iih [unds to pa}• thr next mortgage tnsurance premium ~E thts instru- ~ rnrnt .~nd thr nc~tr sri urrd hrreb~ arr trtsured, or a monthh- charge (~n lieu ot a mortgage insurance premium) if the~~ are h~ :d t~~ th~• ~rcre tar~~ u! HoussnK and Ctban Aevel~~prr.ent, as t~lloks: : i1 end so lonF as neid no!e ot evrn date and this instrument are ?nsured or are retnsured under the proa•isions o[ the XaL•c~nal Hcusin~ Act, sn ar.~ount sutlu~rnt tu accumulatr in thr hanas oi ~ifr noitie~ une ~?i iuUiiiii Y::.,c i:~ ~t; d..t~• the annual r..ortgaKr 3nsurance prrr.~~um. in order to pro~•ide such holder uith tunds te p~y suchprea:ium to the ~r. tetar~ uf H.~usin~ and Urban Qr~elo~mrnt Fursuant to the :\ational Hous?ng Act. as amended, and appLcable Regu- i..ti~~n. th~•rrundrr, o[ ; 11: 1~ end s~~ ionR as said n~t~• .~f rc~~n datr ~nd this ~nstrument ~re held by the Secretar~~ of Hous~ng and Grba~ De~•rlep- i ~ r..~•nt. a-:.nthiy~ charKe (in l~eu of a cr.ortgage ~nsurance premium) ah~ch shall be in an amount equal to one-txelfth ~ ~1 1_~ ~t one-hal( (~z) prr centum o[ the averuge outstand~ng balance due on the note computed without tak~ng mto ~ ~ a,:•_~unt dr.?nyuencies ur prrpayments; j E A~u^~ r al to the mund rents, it an next due, lus the remiums that w•ill next become due and payable on pol~cies ' ! • Gu~ g P P ~t firr and c~thrr hezerd ~nsurancr co~•enng the r.:ottgaged property, plus taxes and assessments next due on the mort- i .;a~t•d j:toprrtt fall as r~timated b~ th~ :nortgagee~ less all sums alread~ paid there(or dicided by the number of months t;, .•lep~e• b~~forr cne ~,onth pr~or to thr date when such ground rents, premeums. taxes, and assessments u•iil become de- ~ :,nqurnt. ~urh sur..s to be held b~• r..ortgagee in trust to pay said ground rents, premiums, tazes. andspec?alassesse~ents, and ' ; A:: pe~r..rr.ts ~-rnuonrd in the two preceding subsections of this paragraph and all p~yments to be made undrr the note ~ srcurt•d hrrrb}• shall be added together and the aRgregate amount thereof shall be paid b~• the mongagor each month m a ~ .en~Ir pa~r.:rnt to be applied b~ the ~rortgagre to the tollow•ing items in the order se! [orth: $ ~I1 p*eT~u^. charges under the contract ot ~nsuran~e aith the Secretary of Housing and Urban Dece2opment, ur mon*.hly - <har~;r ~ia l~ru o( Rorcaaa~ msurance premium), as the case may be; g ~]I~ ground rents, ta:rs, assessr.;rnts, fire, and other hazard ansurance premwms; ~ ~ Iill tnterest on the note secured hereb~•; and ;1\'~ am.,rtizauon ot the principal ot said note. ~ An~• deficienc~~ in the ar~ount of such aggregate monthly pa~•ment shall, unless made good by the mortgagor ~ prior to the due date of the next such payment.'constitute an e~•ent of default under this mortgage. The mortgagee ~ ~ay collect a"late charge" not to exceed tuo cents (2C) for each doilar (51) of each payment more than fiiteen ~ tl~) da~s ?n arrears to coeer the extra expense involved in handling delinquent payments. ~ 3. That if the total of the pa}~ments made by the mortgagor under (6) of paragraph 2 preceding shall exceed ~ the amount of pa}•ments actually made b~• the mortgagee, for ground rents, taxes and assessments end insurance ` premium~. as the case ma}• be, such excess shall be credited by the mortgagee on subsequent payments to be rnade b~~ the mortgagor_ If, hoWe~~er, the monthly payments made by the mortgagor under (6) of paragraph 2 pre- ; ceding shall not be sufficient to pay ground rents, taxes and assessmants and insurance premiums, as the case ; ~ ma~ be, when the same shall become due and payable, then the mortgsgor shall pay to the mortgagee any amount necessarl~ to make up ihe deficiencl•, on or before the date when payment of such ground rents, taxes, assessments, z = oz insurance premiums shail be due. If at any time the mortgagor shalltender to the mortgagee in accordance with j the pro~•~s~vns ot the note s~cured herebl~. full payment ot the entire indebtedness represented thereb}•, the mort- t ~aKee shall. in computing the amount of such indebtedness, credit to :he account of the mortgagor all payments ~ .:r F:? mad-r under the pro~•isions of /u/ of paragraph 2 hereof which the mortgagee has not become obligated to payto ~ the Secretary ot Housing and Urban Development and any balance remaining in the funds accumulated under the s ;z; pro~•is~uns ot l~-1 of said paragraph 2. If there shall be a default under any of the pro~•isio~s of this mortgage, re- ~ sultinK ~n a public sale of the premises co~~ered ~ereby, or if the mortgagee acquires the property othecwise aEtec < def:,ult. the mortgagee ~hall apply. at the time of the commencement of such proceedings or at the time the prop- v-, erh ~s otheru ise acquired, the balance then remaining in the funds accumulated under of paragraph 2 preceding - <+s a credit against the amount ot principal then remaining unpaid under said note and shall properlyadjust any payme~ls which shalt hav~ been made under (al ot said parag:aph. 4. That he will pay all taxes, assessments, water rates, and other go~•ernmental or municipal charges, fines, or imposit~ons. for which pro~•ision has not been made hereinbefore, and in default there4E the mortgagee may pay the same; and that he K ill promptl~• deliaer the official receipts therefor to the mortgagee. _ { _ _ ~-y ? , ao~ 198 ~ 9 ; • • E :!.`l? ~.•':YK { ' . _e~ - '--'.-'.s,