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Home My WebLink About1185 >.,,~d c~.~rt~;,~~;ur d.~c•. Frrrbt fullc w.itrant the tttl~ to ;atd I.+nd, and e~rr~ patt therc~ut, and w•~Ii defend the s.~r. ~ .~~;.~~n;t thr l,,wful clalms of c+ll pe~suns w•homsoe~•er. PF'O\'IDFD Al.~1Al'S, and these presents a~e e~ecutcd and deln•e~ed upon the follow~ng conditions, to wtt: The mortKa~or a~rre~ to pa~ the mortgaKre, ur order, the prmcipal sum ot ~jGHTE::i: T:IOL~SA.~vD A2~D ~0/IUO 1~~~:l~rs tS I:;,JO~.JO as e~idenred b~• a note ot even date herev?ith, uith ~nterest Irom date at the - ~ f.atE' ilt J~:VI'.11 ~tr l:CfliYiTl \ / :~o/ ~f aiiiiuiii vii liiC iiii}ioiU vdiaiii.E" until p~id. The sa~d pr~ncip:~1 and interest shall bc pa~•able at the ofiice of ST~LiCiO\~ tJHATLEY~ DAVI\ & .;0:~~~'~~~'~, 1J0 ilcst ~ay St.eet, 3ucksonvill~, Florid~. .~r at tiuch other place :+s the halder of the note r.~a~• designate in writing, in monthl~~ ~nstallments o[ ti:i~; Hl'KllP.~:i) _~i:iE'iE~:~ o~ 30~100 ---------Dollars (S 1.i~.83 comn,encing on the first da~• o[ January . 19 i2 , and on the first day ot each month thereafter untiltheprincipal ~nd interest are full~• paid, except that the final pa~~ment of princ~pai and interest, ii not sooner paid, shall be d~e and pat~able on the first da~• of ~ece:aber, 2J01. And shall dul~, promptty, and [ull~• pertorm, di~charge, execute, effect, complete, and comply with and abide b~ c•~ch end e~•ery the stipulations, agreements, conditions, and co~•enants of said promissory note and of this mort~;c~ge, then this mortgage and the estate hereb~~ created shall cease and be null and ~•oid. And the mortgagot futther co~•enaots as follov?~s: 1. That he will pay the indebtedness, as hereinbefore pro~•ided. Privilege is reserved to pa}• the debt in whole, ur ?n an amount equal to one ar more monthl}• payments on the principal that are next due on the note, on the tirst da~ of an~• month prior to maturit~~: i'.,~~ ~u~~d, however, that written notice of an intention to exercise such pri~•ilege . ?s g,~•en at least thirt~~ (30) da~~s prior to prepat•ment; and, prmided turther, that in the event the debt is paid in full prior to maturit~• and at that time it is insured under the prorisions of the National Housing Act, he will pay to the mortgagee an adiusted premium charge ot one per centum (1 of the original principal amount thereof, except i ch~t in no e~•ent shall the adjusted premium exceed the aggregate amount of p~emium charges which wouid have i been pa}~aale if the mortgage had continued to be insured until maturity; such payment to be applied by the mort- ~ gagee upon its obligation to the Secretar~~ of Nousing and Urban Development on account of mortgage insurance. ~ 2. That, in order more fully to protect the securitl• of this mortgage, the mortgager, together with, and in addi- ; tion to, the monthl~ pa>•ments under the terms of the note secured hereby, on the first day of each month until the ~ s~sd note ~s Eul:t pa~d, w~iil pa}~ to the mottgagee the Eollowing sums: ~ : An ,nnt su(f~cirnt to proc~de the holdrr hereo( w~ith funds to pay thr next mortgage insurance premium tf thts instru- ` rrent and the note securrd herebc arr insured, ur a:^onthly charge (in iieu of a mortgage insurance premium) iE they are z hrld bti the Secr~•tar}~ of Hous~ng and l'rban Decelupr.:eat, as follows: t ~I' If and tio IonK as said note vf evrn date and this instrument ere ~nsuted or are re~nsured under the pto~'~siuns ot the ~ \ati.>nal Nuusing Act, an amount aufhc~rnt tu accumulate ~n the hands of the holder one (1) mortth prior to its due 3 d~tr the annual mortgagc• tnsurance prrsr.~um, in order to provide such holder with tunds to pay suchpremtum to the : Srcretan of HousinK and Urban Dr~~elopT:ent pursuant to the Nauonal Hous~ng Act. as amended, and applicable Regu- y iet~un~ thereunder, or ~ ii; lf and so iong as said netr v( ecrn date and this instrur.ient are held bp the Secretar~ oE Hous~ng and Urban Deeelop- c r.rnt, a monthl}• charRe (in lieu ot ~ mortgege insuronce premwml w•hich shall be in an ymount equai to one-twel(th ~ tl ]2~ ot onr-half ~1:) per centun of the average outstanding balance due on the note computed without taking into ac~ •~unt delinquencies or prepa~•n:ents; ~ ~ A~u~- e ~ai to the round rents, if an neYt due, tus the remiums that wlll ne=t become due and a able o~ ticies q g y. p p P Y P~ ~1 fi:r and othrr hazard insurance covering the nortgaged propert}~, plus taYes and assessments next due on the mort- ~a~,rd prop~•rtt• 1a11 as rst?mated bc the r.,ortgagee) less alt sums alread~• paid there[or div~ded by the number ot months t~~ c•iapsr br(err onr month pnor to the date when such ground rents, premiums, taxes, and assessments witl become de- I~nyurnt. ~urh sums to be heid by ~ortgaYee m tr~st to pay said ground rents, premiums, ta:es, andspecialassessments, ~ and - A!: pd~'r..rni~ .^.:entioned m the two preced~ng subsecttons of th~s parag~~ph and all payments to be made under the note ~ ~ec urc•d hcrrb}• shall br added togethe~ ~nd the aggregate amount thereof shali be paid by the mottg~gor each montfi ~n a .:n,zte .~rrnt be a l~ed b ihe r..ort a ee to the tollow~in items ?n the order set [orth: ~ P" PP 1' a K g ~ ~ U prrr.:~~m charges under the contract of msurunce +~~~th ihe Secretary ot Housing and Urban Development, or monthly ~i charge (in !!ru o( r..ortgage ~nsurance premiuml, as the case map be; ~ - tll~ ground rents, ta:es, assessments, tire, ~nd other hazard insurance premiums; !lIU interest on the note secuted hereby; and tl\'1 a~.orttzeiieO of the principal ot said note. ~ y gg ~ y payment shall, unless made g g ~ An • deficienc ~ in the ar~ount of such- a r~ ate monthl good by the mort a or pnor to the ~ue date ot the next such papment, constitute an event of de[ault under this mortgage. The mortgagee ~ mat• collect a"late charge" not to exceed two cents (2C) for each dollar (S1} of each papment more than fifteen f 11~) da~•s in arrears to cover the extra expense invol~•ed in handling del~nquent payments. 3. That if the total of ~he pa~•ments made by the mortgagor under /b) o[ paragraph 2 pceceding shall exceed the amount ot pay~ments actually made by the mortgagee, fot ground rents, ta:es and assessments and insurance = prem~um~, a~ the case may be, such excess shall be credited by the mortgagee on subsequent payments to be - made bv the mortgagor. lf, howe~•er, the monthly payments made by the mortgagor under /b) of paragraph 2 pre- ceding shall not be sufticient to pay ground rents, taxes and assessm~~nts and insurance premium„ as the case rnay be, when the same shall become due and pay°able, then the mortg;.gor shall pay to the mortgagee any amount necessac}• to make up the deficiency. on or before the date when payment of such ground rents, taxes, assessments, = or insurance premiums shall be due. If at any time the mortgagor shall tender to the mortgagee in accordance with the pro~~is~ons of the ~ote secured hereby, full payment of the entire indebted~ess represented thereby, the mort- : ~agee shall, in computing the amount of such indebtedness, credit to the account of the mortgagor all payments made und~r the prov~s~ons of lo) of paragraph 2 hereof which the mortgagee has not become obligated to payto the Secrecar~• of Hausing and Urban Development and any balance remaining in the Eunds accumulated under the ~ pro~•isivns of of said paragraph 2. lf there shall be a default under any of the provisio~s of this mortgage, re- sult~nK in a pablic sale of the premises covered ~ereby, or if the mortgagee acquires the property otherwise aEter 3efault. the morigagee shall apply, at the t~me ot the commencement of such proceedings or at the time the prop- ert~• is otherwise acquired, the balance then remaining in the funds accumulated under (h1 of paragraph 2 preceding as a credit against the amuunt of principal then remaining unpaid under said note and shall properlyadjust any pa}~ments which shall have been made under (u) of said paragraph. ` 4. That he will pay all taxes, assessments. water rates, and other governmental or municipal charges, fines, or impositions, tor whicF prrn•ision has not been made hereinbefore, and in default thereof the mortgagee may pay " the same; and that he w ill promptly~ deti~•er the official receipts therefor t~ the mortgagee. ....4 : a:; ao~CC ?a~