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Home My WebLink About1395 ~.~id c•,urtR.~Rui dur~ h,~rc~bt full~ ~carr:~nt the titfc• to ~aid i:,nd, and e~c~r~ patt thereol, and ~~•~!1 deicnd ihe s.,^e i .~~;.~in.t the'.:+~rlul ci.iims o( ~+11 persuns w•humsoe~•er. P1~0\'IDED ALN'A1'S, and these presents are eaerutecl and deliaered upon the following conditions, to u~it: The mortgagor ~gtees to pa)• the mortg.~gec: , ur order, the principal sum of $EVENTEEN THOliSAl~'U ~Ii~HT HLr~,~iZED attd \~~100 Uullars t$ 17 ~800.OQ as e~ ~denced bp a note o[ e~~en date hereH~ith, with interest from date at thc~ : ~ r.~te of Seven per centum ( 7 0) pet annum on the unpaid balance ~ i until ~?d. The sa~d pnnc~pal and ~nterest shall be pa~•able at the oitice of STOCKTON~ ~r'HATLEY, s~AVI:~ t:0:a'A;~Y, 100 ;~:~st Bay Street, Jacksonville, Floriua .v .~t surh other place as the holder of the note ma~~ designate in writing, in monthl~• ~nstallments of pi,;$ ~ : Hti;:7R~~ EIGHT~~E,~ rL~D SSI100 ~o~lars (S 118.55 commencing on ' the tust da~~ of February . 19 72. and on the first day of each month thereafter untiltheprincipal .~nd interest are fully paid, except that the [inal pa~~ment of pnncipal and interest, if not sooner paid, shall be due and pa~~able on the first da~- af January, 2Ua2. And shatl dul~~, promptl}•, and fulh• per[orm, discharge, execute, effect, complete, and comply with and abide h~ e~+ch ~+nd e~•ert~ the stipulatiuns, agreements, cond~tions, and co~~enants of said promissory note and of this r.;urt,;~~~e, then tht~ mortgage and the estate hereb~• created shall cease and be null and ~•oid. And the m,ortgagor turther co~~enants as follo~~•s: 1. That he u•iil pa~• the ~ndebtedness, as hereinbefore pro~•ided. Pri~~ilege is resen~ed to pap the debt in w~hole, ;u ~n an amuunt equal to one or r.iore monthl~~ pa}•ments on the principal .LU: are next due ~n the note, on the tirst d,+~ uf ~+m~ munth pr~or to maturity: 1'r.~~ ;J. d, however, that written notice of an intention to exercise such pri~•ilege ~ i~ ~~.•en at least thirty (30) da~•s prior to prepaS~ment; and, pro~~ided f~~ther, that in the event the debt is paid in tull pnur tc maturit}• and at that time it is ~nsured under the provisions ot the National Housing Act, he will pap to t~e mort~c+gee an ~+d~usted premium charge of one per centum (1 of the origina! principal amount thereof, except t!:at in nu e~~ent shall the adjusted premium exceed the aggregate amount of premium cha~ges Which would ha~~e been pa~able if the mortgage had continued to be insured untii maturity; such pa~~me.^.t to be applied by the mort- gaKee upon ~ts ob:igation to the Seccetar~~ of Nousing and Urban Development on account of mortgage insurance. That, in urder more Eully to protect the securit~~ of this mortgage, the mortgagor, together with, and in addi- t~on to, the monthl~~ pay~ments undet the terms of the note secured heteb}•, on the first day of each month until the ~,+id noie is [ull~ pa?d, w•ill pa}~ to the mortgagee the EolloW ing sums: . An ~r...~unc su:ficirnt to protcde thr ho3der hereof w~1th funds to pay the next mortgage insurance premwm i( this instru- ^c•nt ~~d the note sc cured herrby arr ~n~ured, or a munthl~~ charge (~n liru o( a morigage :.^.surancr pr~cm~uml i! the~• ore he Id t,~ :he Secrc•tarc of HousinK and lJrban De~•e]opment. as follow~s: j I ~ lf and :on~; as ssid note ut e~•rn date and th~s instrument are insured or are reinsured under the provis~ons of the Xetwnal H~.us~eg Act. an amuuat ~ufficient to accur.iulate in the hands of the holder one (11 month prwr to ~ts due .iat~~ the ennual -ortba~e insurance prem~um. ~n order to pru~~ide such holder wuh [unds to pay suchpremium to the ; rrtar~ of H.~u+~ng and Urban Dr~elopment pursuant to the ~iatwnal Hous~ng Act. as amended, and appluable Regu- i .ntit~n. th~•rrunder, or ; 11; lf and s, lon~, as sa~d n~~te ot rv~•n datr and th~s instrament are held by the Secretary oE lious~ng and Urban Dea•elop- r.rnt. a r..~nthly rhar~e (in lieu ot a mortgage insurance prem~um) w~hLCh shall be ~n an amount equat to one-twelfth ~1 I`~ c,f vnr-hal( (=z) per .-entum of the average uutstanding bal~nce due on the note computed without tal~ng into ~ e,. „unt dr3ir.quenc~es or prepayments; : ~ A...rr ~•a~a! to the ground rentc. I( en~•, ne:t due, plus the premlums that w•?11 neat become due and pay~ble on pol~cies ~ t fir•- ~+nd other hazard insurance co~~ering the mortgaged property, ptus taYes and assessments next due on the mort- ~.,wr.! ;;ropertc ~ail as rsur.~ated bc the mortgager) Iess all sums alrradypsid theretor divided b}• the number of months tn eiep~e brfore onr r.:onth prior to the date Khen such ground rents, premiums, taxes, and assessments veill become de- linyuent. such su°.s to br held by mortgagee in trust to pap said ground rents, premiums, t~zes, and special assessments; oC.c~ All pa~ r..rn;s r,.rn:i.;ned :n the two preceding subsections of this paragraph and ail payr.ients to be made under the note ~ hrcurc•d hcrrbt' ~haSl be added tagether ar.d the aggregate amount thereof sholl be paid by the r.iottgagot each month ~n a ~ stnKir pa}rt:rn! :o be applied b~ the mortgagee'to the follow~ng items in the order set forth: tl) pr~mium charges under the rontract of ~nsurancr wlth the Secrelarp o( Hous~ng and Urban De~•elopmPnt. or monthly . herge Un Lru of ~:ortgage insutance premtum), as the case may be; ~ ~IL ground rents, taxes, assessments. (ue, and oiher hazard ~nsurance premiums; ~ ~Illl interest on the note secured herebr; and ~j ll~'1 amortizauon ot the principal of said note. ; Any deficienc}• in the ar.iount of such aggregate monthly payment shall, unless made good by the mortgagor ~ pnor to the due date ot the next such payment, constitute an event of default under this mortgage. The mortgagee ~;a~~ collect a"late charge" not to exceed tuo cents (2C) for each dollar (S1) of each payment more than fifteen ~ r. t 151 da~•s in arrears to cover the extra expense invol~~ed in handling delinquent payments. ~ ~ 3. That if the total of the payments made by the mortgagor under (6) of paragraph 2 preceding shall exceed the amount of pa}•ments actually made by the moctgagee, for ground rents, taxes and assessments and insurance premium~. as the case ma~~ be, such excess shall be credited by the mottgagee on subsequent payments to be made b~• the mortgagor. lf, 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 assessm~~nts and insurance premiums, as the case ma~• be, ~rhen the same shall become due and payable, then the mortgsgor shall pay to the mortgagee any amount necessan• to make up the deficienc}•, on or before the date when payment of such ground rents, taxes, assessments, = or insurance prerr,iur~s shall be due. If at an}~ t~me the mortgagor shalltender to the mortgagee in accordance with = = the pro~•isions of tfie note secured hereby, full payment of the entire indebtedness represented thereby, the mort- 1 _ ~agee shalt. ~n computing the amount of such indebtedness, credit to the account of the mortgagor all payments 5 made under the prrn~isions of (u) of paragraph 2 hereof which the moctgagee has not become obligated to payto : the Secretar~• of Nousing and Urban Development and any balance remaining in the funds accumulated undec the ! pso~ tsions oE (G j of said paragraph 2. If there shall be a default under any of the provisio~s of this mortgage, re- sult~ng in a public sale c,E the premises covered ~ereby, or if the mortgagee acquires the property otherwise aEter ~ detaul~. the mortgagee shall apply, at the time of the commencement of such proceedings or at the time the prop- ~ erit~ ~s otheru•ise acquired, the balance then remaining in the funds accumulated under (~i1 of paragraph 2 preceding ; as a credit against the amount of principal then remain~ng unpaid under said note and shall properlyadjust any : pa~•ments wnich shall ha~•e been made under /ai of said paragraph. ~pi 4. That he will pay all taxes, assessments, water rates, and other governmental or m~nicipal charges, fines, or impositions, (or which pro~•ision has not been made hereinbefore, and in default thereot the mortgagee may pay the same; and that he w•ill prompti}• deliver the official receipts therefor to the mortgagee. f = 8 ~ ~~8 ~ i3~3 ; ~