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Home My WebLink About1414 ~ . • ~ ~.~~d r.~~.rt~;,~Ruc duc~s herebt' fult~• w•arrr~nt th~ tit~e ta said land, and e~er~~ p~rt thereof, and witl delend the s~r..e } :+~;.~~nst thc~ l.,w•tul cla~ms of all pe~sons w•humsoever. Ph'OVIDED A1.4CAYS, and these presents are rxecutc~ci and deli~~ered upon the following conditions, to wit: The mortK~+gor ~~~ees to pay the mortg~gee, or orde~, the principal sum of SIXTE~N 'iH0USe1i\D FOL'R tiL~~KEt7 AN.7 NO/I00 t~ollars lS1b,4U0.Q0 as e~•idenced bq a note of even date he~ewith, with interest (rom date at the r.,te oi se~ en per ce~tum ( 7 per annum on the unpaid balance uat?I paid. The said princip:~l and ~nterest shall he payable at ihe office oE ; ST~CKTON, ~•iN.ATLE1, JAVI~i & CO:iPA:~il, i00 West Bay Street, Jacksonville, Florida ; 3 or .+t such other place as the holder of the note may desianate in writing, in monthl~~ installments of OIvE ~ lili.~DRi~ c:LtiE & 22/100 Uollars (S 209.22 commencing on ~ the first da~• oE rebruary , 19 '2 , and on the first da~~ of each month thereafter untiltheprincipal and interest are tully paid, except that the final pa~~ment oE principa! and interest, if not sooner paid, shall be due and payable on the first da~• oE January, 2002. And shall dui~~, promptty, and full~~ perform, discha~ge, execute, effect, complete, and comply with and abide b~ e~ch and e~•ec~• the stipuiations, agreemenis, conditions, and eo~~enants of said promissory note and of this r,:ort~~~~e, then this rnortgage and the estate hereb}• created shall cease and be null and ~~oid. And the mortgagor turther co~•enants as follo~s: 1. That he will pay the indebtedness, as hereinbef~re pro~~ided. Ptivilege is reserved to pay the debt in whole, o~ ~n an ~~mount equal to one or m~re monthl}~ payments on the principal that a~e next due on the note, on the first d;~~ uf an~• month prior to maturity: Pr,~, ~d~•d, however, that written notice of an entention to exercise such prit~ilege is Ri~•en dt least thiriy (30) da~•s prior to prepayment; and, provided further, that in the event the debt is paid in full pr~or to maturit~• and at that time it is insured under the pro~~isions of the National Housing Act, he will pay to the mortgagee an adjusted p~emium charge of one per centum (1 of the original principel amount thereof, except th~t in no e~~ent shall the adjusted premium exceed the aggregate amount of premium charges uhich would have ~een pa~-able if the mortgage had continued to be insured until maturity; such pay~ment to be applied by the mort- gagee upon its obligation to the Secretarl~ of Housing and Urban De~~elopment on account of mortgage insurance. 2. That, in order more fully to protect the security of this mortgage, the mortgagot, together with, and in addi- tfun to, the monthl~• pay~menis under the terms of the note secured hereby, on the first day of each month untit the said note ~s Eutt~• paid, wiil pa~• to the mortgagee the folloKing sums: - An ar.::~unt sufficient to procide ehe holder hrreo( u•ith (unds to pay thr next mortgage insurance premium i[ this instru- mrnt and the note secured hereby are ins~red, or a monthl~~ charge (in lieu ot a mortQage insurance prrm~um) i( they are ` hrid b~ the Secrrtary o[ Housing and Urhan Development, as fottow•s: ~ti if and so long as satd note of et~en date and th~s instrument are insured or are reinsured under the ptovisions o[ the \atiunal Housmg Act, an amvunt suftic~ent t~~ arcuRUlate in the hands ot the holder one (1) month prior to its due ` date the annual mortgage insurence premium. ~n order to provide such hoider with funds to pay suchpremium to the ; Srcretary ot Housmg and Urban Developmrnt pursuant to the National Housing Act, as amended, and applicable Regu- latiuns thereunder, or ~ II) 1( and so long as said nute o( evrn datr and th~s mstrument are held by the Secretary of }ious~ng and Urban Develop- r.:rnt, a:aonthly charge (in lieu of a mortgage ?~suronce p~emium) which shall be in an amount equal to one-twelith i ll 1?1 0( one-hait per centum o[ the aeerage outstandinQ balance due on the note computed without taking into ; a.: uunt delinquenctes or prepaymertts; ~ ' A tium equal to the ground rents, if any, next due, plua the prem~ums that wi11 oext become due and payable on poticies +1 fuc~ and uther hrzerd ~nsur+nce covenng the mortgaged propenf, plus taxes and assessments next due on the mort- ~ F,Ked proprriv (aIl as rstimated by the mortgagee) less all sums already paid theretor dieided by the numbet of months to elapsc• brfore one munth pnor to the date w~hen such ground rents. premiums, taYrs, and assessments w~11 become de- ~ ` linqurnt. surh sur.:s to be held by murtgagee ~n trust to pay said ground rents, prem~ums, taYes, andspecialassessments, ~ ° rnci ~ ` Ali pa~•r.:enta mentioned in the twu recedin subsections o[ this ara ra h and all P g p g p pay ments to be made under the note srcurrd hrrrbc shali be added together and the aggregate amount thereof shzll be paid by t6e mortgogor each month in a ~ sin~le paymrnt t~~ be appl~ed b~~ the mortgagee to the following items in the order set forth: it) prer.;wm charges under the contract of ~nsurance nith the Secretary of Housirtg and Urban Development, or monthly rharge (~n lieu of mortgage ~nsurance premium), as the case may be; ~I[) ground renfs, ta:es, assessments, tire, and other hazard insurance p-emiums; (Illl interest on the note secured hereby; and ` U\'1 amortization of the principal of said note. s :~ny~ deficiencv in the ar.~ount of such aggregate monthly payment shall, unless made good by the mortgagor prior to the due date of the next such payment, constitute an event of detault unde~ this mortgage. The mortgagee ma~• collert a"late charge" not to exceed two cents (2C) for each dollar (S1) ot each payment more than fifteen ` (15) da~•s in arrears to co~•er the extra expense involved in handling deiinquent, payments. . 1 ~ 3. That if the total of the payments made by the mortgagor under (b) of paragraph 2 preceding shall exceed the amount of payments actualiy m3de by the mortgagee, for ground rents, taxes and assessments and insurance premiums, as the case may be, ~uch excess shall be credited by the mortgagee on subsequent payments to be ~ ; made by the mo~tgaRor. If, however, the monthly payments made by the mortgagor under (6) of paragraph 2 p~e- _ 3 ceding shall not be sufficient to pa~ ground rents, taxes and assessm.~nts and insurance premiums, as the case ~ may be, when the same shail become due and payab[e, then the mortg~gor shall pay to tte martgagee any amoun± ~ ` necessary 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 an~• time the mortgagor shall tender to the mortgagee in accordance with the prorisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the mort- ~a~ee shall, in computing the amount of such indebtedness. credit to the account of the mortgagor a!1 payments ` i made under the proeisions ot (u) oi paragraph 2 hereof which the mortgagee has not become obligated to payto ~ the Secreiary of Housing and Urban Development and any balance remaining in the funds accumulated undet the - pro~~isions ot of said paragraph 2. If there shall be a default under any of the provisiois of this mortgage, re- sulting in a public sa;e of the pcemises covered iereby, or if the mortgagee acquires the property otherwise after default, the mortgagee shall apply, at the time of the commencemeat of such proceedings or at the time the pcop- ert~~ ~s othenvise acquired, the batance then remaining in the funds accumulated under (6) of paragraph 2 preceding j ~ as a credii against the amount of principal then remaining unpaid under said note and shail properlyadjust any - payments which shaU have been made under (u) of said paragraph. 4. That he wiil pay all taxes, assessments, water cates, and other gc+vernmental or municipal charges, fines, or impositions, for which provision has not been made hereinbefore, and in default thereoE the mortgagee may pay ~ the same; and that he will promptly deliver the officia! receipts thetefor t~ the mortgagee. ~ ~ acox 1y$ Pac~~~