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Home My WebLink About1436 ~.~~d ^:~r!~;.~r.u ;~.~e•. ~lt'lCh~ I4U\ Niiffit:ll the t~tle• tu ~:,~d :.~nd. and r~er~ pdrt thercof, and w•iU defend ihe s,~^e .,~;,~in~t thc• i.=a•tul cl.+~m. ot .,11 p~•rson~ u•homsce~•cr. Ph'(1\'IDED ALNAI'S, :~nd these prc~srnts are executcxi and deli~•c red upon the follow~ng eond~t~ons, to w•it: 7'hc• mortR~,got d~rres to pa~~ the mort~~Kre, .x urder, the pr?ncipal sum af ;:IGHiE;~1 THJLSA.~D .r=lit;i ~.'i;DcZ-i.J A~\:~ 1~~1~~ - ~?,,;lar~ ~S 13,SOO.J~ as e~id~nced b~ a note ot e~•en date fierea~ith, u~ith ~nterest from d;ite at thc~ r.~te .~l seven per centum ~ ' per annum on the unpa~d balance unt~l paid. The sa?d pnnci~wl and interest shaU be pa~•able at the office ot , ST:~C~iO:~, 'r~:;AT:.cr, ~A~'Zi: ~ i.~::PF.i.Y, lOJ :;est ray Strcet, Jacksonville, ~lori3a ,~r :~t ~uch other place as the holder ot the note ma~~ designate in K•r~ting, in monthl}• installments ~f O;:E HL~ ~RE~ ~II1TY -F 1~%E A:vD 21 / 100 Dof lars t5 125 . 21 commenc ing on thc• ferst da~~ of : ebru~ry . 1q 7~ , and ort the first da~• of each month thereafter untiltheprincipal ~nd interest are full~• paid, except that the (inal pa~•ment of prin~~pal and interest, if not sooner paid, shall be due <;nd pa~able on thP tirst dd~~ of January, 2002. And shatl dul~•, promptl~•, and Eull~• perform, d~scharge, execute, e[fect, camplete, and comply with and abide b~ rach and e~er~~ the stipulations, agreements, conditions, and co~-enants of said prom~ssor}• note and of th~s rz:.~rt~;,~;e, then this mort~;age and the e~tate hereb~• created shell cease and be null and ~•oid. And the mort~agor turtAer co~~enants as Ioiiow•s: 1. That he u~ill pa~~ the ~ndeb?edness, as hereinbefore procided. Pr~~•ilege ~s reser~•ed to pay the debt in w~hole. .~r ~n .+n ~~mount equa! to one or rnore monthl~• pa~•ments on the principal that are next due on the note, on the lirst ;i,~~ ot am month puor to maturit~•: P.~„ ,i, hou•e~~er, that written notice of an intention to exercise such pri~•ilege ~s ~,~~•rn at Icast thirt~ (30) da~~s ptior ta prepa~•ment; and, pto~•ided further, that in the event the debt is paid in tuil pnor to maturit~~ and at that time it is ?nsured under the ptoc~sions ot the National Housing Act, he will pa}' ta thc• mortFagee an adju~ted prem~um charRe of one per centum (la) of the original principal amount thereot, except tl:~t ~n na e~•ent .halt the adiusted prem~um exceed the aggregate emount of premium charges W~hich v?ould ha~~e hren pa~•able if the mortga~e had continued to be insured until rt:aturity; such pa}•ment to be applied b~• the mort- ~a~ee upor. its obiigation to the yecretar~~ oi Nousing and t)rban I3e~~eiopment on accouni uf mortgag~ insura~ce. 2. That, in order more [utl~• to protect the securit~• of this mortgage, the mortgagor, together Kith, and in addi- t~.~n to. the manthl~ pa~~ments under the terms of the note secured hereb~•, on the first day of each month until the .~~d nute ~s full}• pa~d, witl pa~ to the mortga~ee the foilow•ing sums: ~ An :+^.~unt suff~rirnt to proa~ide thr h<<l~t•r hrreof with funds to pa} thr neat mongage ?nsurance premiur.: i( lhis instru- ~ r.~rnt andthe note secured herebc :.rr ~ntiured, or : monthlc charge (in tieu of a r.:ortga~e insUrance prrm~uml the~~ s+re h~ id hti thc Secre~tart uf Housin~ end l~rUan Development. as follow•s: ~ ~I~ !f ancf ~o lc~nR as said note uf c•cen date and this ~nstrument are insured or are reinsured under the pro~•is~uns ot the ~ latwndl Houcing Act, an amuunt su!fic~ent to accumu;ate in the hands of the holder one (11 nonth pri~r to ris due ~ ~f.+te• the annual mortgagr i~surance prcrr.tum, m order to proa•ide such holder w•?th (unds to pay suchpremium to the tii-i~retar~~ of H.~usin~,, and Urban Dr~~elopmi•nt pursuant to the National Housing Act. as amended, and appGcable Rrgu- t i..t~ons thrreundrr, or e ~ l1 ~ lt and ~o tong as sa~d note• of e~•rn date and th~s ~nstrument ore held b~• the Secretary ot Housinq and lJrb~n Dea•elop- ~ c rnt. a monthlq charKe ~in Leu ot a mortgage insurance premiuml w~hich shall be in an amount equal to one-tvicelfth ~ t 1 I' ~ n( onr-half per centum of the averaQe outstanding balance due on the note computed without taking into a. r:~unt del?nquencus or Qrepa~•menis; ' A~u^ e•q~al to the ~round rz•nts, if ony. ne:t due, plue the premiums that w•ill next become due ond payable on pol~c~es ~ -t fire• an~ ,~thr~ hez•rrd insurancr co~~er:n~ the r.^.ortgagrd property, plus taxes and asscssments next due on the mort- ~;~E~•ci pr:~atrtc ia:1 ds rs;trt:ated b}' tnc mortgagee> less :1t sums alrrad~• paid theretor di~•ided by the number of months t;: r:dp~e brfore une month pnor to the datr u•her, such ground renta. prern~ums, taYes, and assessments vc311 becomE de- l~nqurnt. ~u.-h ~:urr:s to ha~ held by mortgagee in trust to pay said ground rents, premiums, taxes, ondspecialassessments, y ..~d A:i ;~..c.^.,rn:~ n:enticm~~d m the two preceding subsecuons of this paragraph and all pay~ments to be made under the note ~ri urrci hrrrb~ +hail he added together and the ag~regete amount thereof shall be paid by the mortgagor each month ~n a ~in'~ie pd~r:rnt t: be ap,l~ed b~ the mortgagee to thr following ~teT.s ?n the order set forth: > prrr..iur.. char~;e~ under thr cuntract of insurencc• with the Secretar~ of Housing and Urhan Development, or montht~~ ~ har~;e~ ~in l~eu of mortgage in~urance ~fErTGlUtt:1, b5 the case mat be, f ~ II ~~round rents, taxes, assessment s, f~re. and othrr ha2ard ?r.surance premiums; ~IIf i interest on the note secured hereb~: and ?I~'~ ar.:ortu~uon of the principal o[ said note. .~n~• def~cienc~• in the araount of such aggregate moMhly payment shall, unless made good by the mortgagor _ pn~~r to !he due date of the next such pa~•ment. constit~te an event of default under this mortgage. The mortgagee ;:;d~ collect a"tate charge" not to exceed tw•o c~nts (2c~or each dollat (S1) of each payment more than fifteen k' ~.151 da~•s ~n arrears to co~~er the extra expense involL•ed in handling delinquent payments. ' i :3 ~ 3. That if the total of the payments made by the mortgagor under (6) of paragraph 2 preceding shall exceed " the amount oi payment~ actually made by the mortgagee, for ground rents, taxes and assessments and insurance premium~, as the case ma~• be, such excess shal( be credited by the mortgagee on subsequent payments to be made bt• the mortga~or. If, how•e~•er, the monthly pay~ments made by~ the mortgagor under (5) of paragraph 2 pre- ced~ng shall not Le sufficient to pay ground rents. taxes and assessm~~nts and ~nsurance premiums; as the case ma}• be, when the same shall become due and pa}•able, then the mortg4gor shall pap to the mortgagee any amount - necessar~• to make up the defirienct~. on or before the date u~hen payment of such ground rents, taxes, assessments. or insurance prem~um~ shall be due. If at an~~ time the mortgagor shalltender to the mortgagee in accordance w~ih thc p;o~ is~ons of the note secured hereb}•. full payment of the entire indebtedr.ess represented thereby, the r.iort- Ra~ee shall, in computing the amount of such indebtedness, credit to the account of the mortgagor all payments made under the pro~~isions of ~ui of paragraph 2 hereof whuh the mortgagee has not become obligated to payto the Secretar~• of Hous~ng and Lrban Development and any balance remaining in the funds accumulated under the ~ pru~•is~cros of !i~/ of said paragraph 2. I[ there shall be a default under any of the provisio~s of this mortgage, re- _ sult~n~ sn a pubiic sale of the prem~ses covered iereb~•, or if the mortgagee acquires the property otherwise after default. the mortgagee shall appl~•, at the time oE the commencement of such proceedings or at the time the prop- - ert~• is otheru-ise acquired. the balance then remaining in the funds accumulated under (j~ l of paragraph 2 preceding - as a credit again~t the amount of principal then rerra~ning unpaid under said note and shall proper!}•adjust any~ = pa}~ments k~hich shall ha~•e been made under ia) of said paragraph. 4. That he will pa~~ at( taxes, assessments. u~ater rates, and other go~•ernmental or m~nic~pal charges, fines, _ or impositions, for u•h~ch ptociston has not been made hereinbefore, and in default thereof the mortgagee rr~a}• pay - the same, and that he w~ill promptl}~ deti~~er the ofi~cial rece~pts theretoc to the mottgagee. _ =~i3 ~ 19~8 ~i~34