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Home My WebLink About1402 ..~id mort~;.,RUr duee hereb~• full~• w•arr.~nt the title to ~aid land, and r~•c•r~• ?art thereof, and will defend the s.~r.:r .~~;~~in~t the l:+w•ful cta?ms of all pecsuns rt~homsoe~~er. { t PRO~'IDED ALICAYS, and these presents are executed and delivered upon the following conditions, to wit: ' The mortKagor agtees to puy the mo~tgdgee, ur order, the principal sum ot SIXTESN THOUSAND 11~10 HUNDRED ' ~ AND 00/100------------------------------------------------------------•---------- ; l~oll<+rs l5 16,200.00 as e~•idenced b~• a note ot even date he~ewith. with interest fcom date at the r:+te of BeVen per centum ( 7 a) per annum on the unpaid balance ~ until paid. The said principal and interest shall be payable at the office o! StOCktOn~ Whatleq, Davin 6c Comp8Ry; 100 West Bay Street; Jacksonville, Florida 32202 ` ~~r at ~uch other place as the holdec ot the note ma~~ designate in writing, in monthly installments oE ON8 HUNDRED SEVEN AND 89/100----~------"""""nollars (S 10~~89 commencing on t the ti~st da~~ of February . 19 ~Z , and on the [irst day of each month theceafter until the principal ;~nd interest a~e fully paid, except that the final payme~t ot principal and interest, if not sooner paid, shall be due ~+nd pa~•able un the first da~• of January, 2002. And shall duly, promptl}~, and full~• perform, discharge, execute, effect, complete, and comply with and abide b~• each and ever~~ the st~pulations, agreements, conditions, and co~~enants oE said promissory note and of this m~~rtKage, then this mortgage and the estate hereby created shall cease and be null and ~~oid. And the mortgago: further covenants as follows: 1. That he wilt pay the indebtedness, as herei~betore provided. Pri~~ilege is resecved to pay the debt in whole, OI in an amount equal to Ofle v[ ii1Ji~ ~Ti'vAilii" o u.~i.:S ' ~:~:SL ace next due on the ~ote, on the ~ItSI ) N > Y::::t~..~^.a^+. da~~ of an~• month prior to maturity: f'.~~, iJ.•d, however, that written notice of an intention to exercise such privilege is gi~~en at least thirty (30) days prior to prepa~~ment; and, provided further, that in the event the debt is paid in full prior to maturitt• and at that time it is insured under the provisions o[ the National Housing Act, he will pa}• to t}ie mortgagee an adjusted premium charge o[ or.e per centum (1 of the original principel amount thereof, except th~t ~n no e~~ent shall the adjusted premium exceed the aggregate amount ot premium charges which would have been pa}•able if the mortgage had continued to be insured until maturity; such payment to be applied by the mort- gagee upon its obligation to the Secretary o[ Housing and Urban Development on account of mo~tgage insurance. 2. Tha~, in order more fully to protect the securit~~ of this mortgage, the mortgagor, together with, and in addi- ~ t~on to, the monihly pa}•ments under the !erms of the note secured hereby, on the first day of each month until the ` said note ~s iult~• paid, will pay to the mortgagee the following sums: An ~m~~unt sutfic~rnt to pro~~~de thr holder hereot w•ith funds to pay the next mortgage insurance premium i( th~s instru- mrnt andthe rote secured hrrebc are insured, or a monthly charge (in lieu of a mortgage insurance premium) i( they are hr:d h~~ the Secrrtary of Housing and Urban Development. as follow•s; ` fll 1( and so lung as said note o( ea~en date and th~s ~nsirument are insured or are reinsu~ed under the provisions o( the ~ tiatwr.al Huusln~; Act, an amuunt suff~cient to accumulate tn the hands ot the holder one (lj month pnoz te its due d~tr the annua( mortgage insurance premium, in order to provide such holder xith [unds to pay suchptemium to the tirrreter~ oi Huus~nK and Urban Devetopment pursuant to the National Housing Act, as amended, and applicable Regu- tetwn: therrunder, ur ~ ~ I1i If and so long as sa?d nute of rvrn datr and this instrument are held b~ the Secretary of Hous?ng and Urban Develop- ~ .^..~•n[, a monthly charge (m t~eu ot a mortgage iasurance premium) which shall be in ~n +mount equal to one-tw~elfth ~ t 1 121 ut onr-half per centum of the average outstanding b~lance due on the note computed without taking tnto ~ ar~~ount delinquencies or prepapments; 4 A sum eyual to the ground rents, i( any, next due, plus the premiums that wiil next become due and payable on policies ~ ,~f fire and other hazard ~nsurance rovertng the muttgaged property, plus taxes and assessmenls next due on the mort- Kagrd propert}' lall as rst~matrd by the mortgagee) less all sums alread~ paid there[or divided by the number of months ~ to rlepsr brfore unr month onor to the datr when such Kround rents, premiums, taxes, and assessments arill become de- lcnqurnt, such sur.~s to br held by rnortgagee in trust to pay said ground rants, premiums, te:es, and special assessments; e1<i ~ ~ Ail pa~•rt.rnts rr:rnt~on~•d m the two preceding subsecttons of this paragraph and all papments to be made under the note ~ srcurrd hrrrt.~• shall br added together and the aggregate amount thereof shal! be paid by the mortgagor each month in a :~n~;lc- paymrnt to be applted by the mortgaqee to the tollow~ng items in the order set forth: ~ (I) prrm~um rharges under the contract of ~nsurancr with the Secretary of Housing and Urban Deeelopment, or monthi}- charge (~n I~eu ot mortgage ~nsurance premium), as (he case may be; t; il!) ground rents, taxes, assessmrats, flre, and other hazard ~nsurancr premiums; (I11) ~nlerest on the note secured herebY; and ~ U~'1 amort~zation ot the pnncipal ot said note. ~ An}~ de(iciency in !he ar.~ount of such aggregate monthly payment shal.l, unless made good by the mortgagor ~ prior to the due date of the next such payment, constitute an event o[ default under this mortgage. The mortgagee may co(lect a"late charge" not to exceed two cents (2¢) for each doilar (S1) of each payment more than fifteen ~ ti5) da~•s in arrears to cover the extra expense invol~•ed in handling delinquent payments. ~ 3. That if the totat of the payments made by the modgagor under (6) of paragraPh 2 preceding shall exceed ~ the amount of payments actually made by the mortgagee, foc gtound rents, taxes and assessments and insurance premiums, as the case may be, such excess shall be credited by the mortgagee on subsequent payments to be made by the mortgagor. If, howe~~er, the monthly payments made by the mortgagor under (6Jof paragraph 2 pre- ced?ng shall not be sufficient ta pay ground rents, taxes and assessm~~nts and insurance premiums, as the case ''j ma ~ be, when the same sh~lt become due and able, then the mort or shall a~ to the moct a ee an - amount ; 5 PaY S"B P S g g 5 , _ neressary to make ap the def iciency, 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 provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the mort- ~<+gee shall, in computing the amount of such indebtedness, credit to the account of the mortgagor all payments made under the provisions of (u) of paragraph 2 hereof which the mortgagee has not become obligated to payto the Secretary of Housing and Urban Development and any balance remaining in the funds accumulated under the - pro~•is~uns of of said paragraph 2. If there shall be a default under any oE the provisio~s of this mortgage, re- _ sulting in a public sale of the premises covered ~ereby, or if the mortgagee acquires the property otherwise after ~ default, the moctgagee shall apply, at the time of the commencement of such proceedings or at the time the prop- `-y erty ~s otherwise acquired, the balance then remaining in the funds accumulated under (b) of paragraph 2 preceding as a credit against the amount oE principal then remaining unpaid under said note and shall Qroperlyadjust any payments which shall have been made under (a) of said paragraph. ~a 4. That he will pay all taxes, assessments, water rates, and other go~~ernmental or municipal charges, fines, or impositions, for which provision has not been made hereinbefore, and in default thereoE the mortgagee may pa}• "s>i the same; and that he will promptly deliver the official receipts therefor to the mortgagee. ~~_5 B ~ 1y8 ~ 1400 f:, -:1