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Home My WebLink About2050 ,.,:d r•.~r!k<~E...r duc~. h~seb~ f:;1,~ aarr~nt the titl~ to sa~d l.~nd, and e~•er~ part•thereuf, and w~il: defend tt:e same ~ .~E,.in~t thr ;:~~~!u! cla~ms of ail petsons whor:soc~er. PN(l~'IDF:D ALN~AI'S. and these presents ace exNCUtrcf and deli~•ered upon the tollow•~ng conditions, to w~rt: The m~rt or a rres to a~~ the :r.ort re. or ardet, the r~nci al sum of SIXT$BN THOUSAND FOUR HUNDRED { ~ P' K" ~ P P' . AND N01100---------------------------------------------------------------------------- [~~~l:ars iS 16~4QQ~Q0 as r.idenced b~~ a note of e~~en date herewith. W?th interest fcom date at thc: rdte of sevea per centum ( 7'~0) per annum on the unpa~d balance u~t~l paid. The said principal and interest shall be pa~•able at the otiice of StOCktoil~ Whatley~ D8V1~1 ~ COmpBtly; 100 West Bay Street; Jackaonville, Florida 32202 ~ ur at such other p;ace ds the holdec ot the nate tr.ay destgnate in writing, in monthlp ~nstallments of ~~D ~ IJIN$ AND 22/100--------"-"'-""-""" Dollars (5 109.22 coma~enpcing pn ~ th~ f~rst day~ ot Februarq . 19 72 , and on the first da ~ of each month thereafter untiithe rinci al and interest are tully paid, except that the t~nal payment of principal and interest, if not soonet paid, shall be due and pa~•able on the t:rst da~• of JStluaty~ 2002. And shall dul~~, promptly, and [ull~~ perform, discharge, execute, effect, compiete, and comply with and abide b~~ each and e~•ery the stipulations, agreements, conditions, and co~~enants of sa?d promissoq• ~ote and of this ~ i r~.,rt~.a~e, then this mortgage and the estate hereb}~ created shali cease and be null and void• ' And the mortgagur further covenants as foilow~s: 1. That he w iil pa~~ the indebtedness, as hereinbefore pro~~ided. Privilege is resen~ed to pa~• the debt in whole. or ~n dn amount equal to one or more monthl}• pa~-ments on the principal that are next due on the note, on the first da~~ 01 an~• month prior to maturity: P.~~l:d~•J, however, that written notice of a~ intention to exercise such pri~•ilege is R~~•en at Ieast thirty~ ~30) da~•s prior to pre~w~~mrnt, aid, pr~ti~idzd furtt?er, ttai in the e~•ent i~e debt is ~i~ i.^. tull p:ior to maturit~• and at that time it is insured under the provisions of the National Housing Act, he well pay to the ~nortgagee an adjusted premium charge ot one per centum (1 0) of the otiginal principal amount thereof, except that in no event shall the adjusted premium exceed !he aggregate amount of premium chatges which would have been payable 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 of Housing and Utban Development on account of mo~tgage insurance. 2. That, in order more fully to protect the securit~• of this mortgage, the mortgagoc, togethet witb. and in addi- tion to, the monthly pa~~ments under the terms of tne note secured hereby, on the first day of each month until the ~ sa~d note is full}• paid, will pa~• to the mortgagee the [ollov?ing sums: i : An amuunt suf[icir~t te pro~~ide the holder hereof wiRh funds to pay tAe next mortgage insurance premium it this 3nstru- mrnt and the note secwed hereb>• are ~nsured, or a monthly charge (in lieu of a mortgage inaurance premium? if they are : h~ld b~ the Secret+ry of Housing and Vrban Developr.ient, as follows. ~ i ~;Ir It end so long as said note ot e~•en date and this instrument are irtsured cr are reinsured under the pro~~isions o[ the tiation~l Housing Act. an amuunt su(ticient to accumulate in the hands ot the holder one (1) month prior to its due datr tne annual mortgage msurance prem~um, in order to provide such holder vcith funds to pay euch premium to the Srcretary ot Housing and Urban Development pursuant to the National Housing Act, as amended. and applicable Regu- lations thereunder; or ~11) If +nd so long as said note uf even date and this instrument are held by the Secretary of Housing and Urban Develop- ' nrnt, a monthly chYrge ~in lieu ot a mortgege insurance premwm) whuh.shAl! be in an amouat equal to one-twettth j f 1 121 ot one-half per centum of the average outstanding balance due on the note computed wuhout taking tnto ~ account deiinyuencies or prepayments; E i A sum equal to the ground rents, if an~•. next due, plus the premiums that acill next become due and payable on policies { o( fire ~nd other haz:rd ~nsurance covenag the mortgaged property. plus taxes and assessments ne:t due on the mort- ~ g.ged pruprrty (all as estimated by the r.~ortgagee) less a11 sums alread~• paid therefor di~ided by the number o[ months tu rlapse be(ore one month pr~or to the date when such ground rents, premiums, ta:es, and acsecsments wi11 become de- ~ imqueat, such sums to be held by .r.ortgaeee ?n trust to pay said ground rents, premiums, tazes, aadspec?alassessment~; 5 and g ~ All puyments mentiuned in the two preceding subsections o( this peragraph and all paymente to be made nnder the note ~ s secured herrb~• sha11 be added together and the aggregate emount thereot shall be paid by the mortgaQot each month in a ~ sm~le p+pment to be appl~ed b~• the mortgagee to the tollowing items in the orde~ set forth: # ; ii? prert:ium rhar~es under th~ contract o( insurance with the Secretar} of Houstng and Urban Development, or monthlp ~ charge (?n 1?eu of mottgagr tnsurmcr prem~um), as the case may be; y ~ (II) ground rents, ta:es, assessments, (ire, and other hazard insurance premiums; ' ~III) interest on the note secured hereby; aad ~ (I\'1 amurtization u( the principal ot s~id note. f ~ An~~ de[icienc~~ in the araount of such aggregate monthly payment shall, unless made good by the mortgagor ~ ~ pcior to the due date of the next such payment, constitute an event of default under this mortgage. The mortgagee E ma~~ collect a"late charge" not to exceed two cents (2C) for each dollar (S1) uf each pa~~ment more than fifteen ~ (IS) da~~s ~n arrears to cover the extra expens~ involved in handling delinquent payments. ~ ~ ; ~ 3. That if the total of the payments made by the mortgagor under (6) of paragtaph 2 preceding shall eYCeed ~ the amount of payments actually made by the mortgagee, for ground rents, taxes and assessments and insurance ~ premium~. as the case may be, such excess shall be credited by the mortgagee on subsequent payments to be - mede by the mortgagor. If, howe~~er, the monthly payments made by the mortgagor under (b) of paragraph 2 pre- ceding shall not be sufficient to pay ground rents, taxes and assessm~~nts and insurance premiums, as the case mat• be, when the same shal! become due and payable, then the mortgsgor shall pay to the mortgagee any amount - necessary to make up the deficiency, on or before the date when payment of such ground rents, taxes, assessments. ~ _ or insurance premiums shall ~e due. If at an}• time the mortgagor shall tender to the mortgagee in accordance with the pro~•isions of the note secured hereb}•. full payment of the entire indebtedness represented thereby, the mort- ~ - gagee shali, in computing the amount of such indebtedness, credit to the account of the mortgagor all payments made under the prrn~isions of (a1 of paragraph 2 hereof which the mortgagee has not become obligated to Rayto ~ tbe Secretar~ of Housing and Urban Development and any balance remaining in the funds accumulated under the ~ pro.•~sions ot (1.) of said paragraph 2. If there shall be a default upder any of the provisio~s of this mortgage, re- - sultinK in a public sale of the premises covered ~ereby, or if the moctgagee acquires the property otherwise after ~ - default, the murtgagee shall appl~•, at the time of the commencement of such proceedings or at the time the prop- ; ert~• is otherwise acquired, the balance then remaining in the funds accumulated under (1,) of paragraph 2 preceding ; - as a credit against the amount of principal then remaining unpaid under said note and shall properlyadjust any _ pa}~ments w-hich shaU have been made under (a1 of said paragraph. 4. That he will pa~~ all taxes, assessments, water rates, and other go~•ernmental ot municipal charges, fines, or imposit~ons, for which provision has not been made hereinbefore, and in default thereof the mortgagee may pay ~ the same; and that he will prumptl~• deliver the official receipts therefor to the mortgagee. t i - so~ 1~8 ~~204? r~:; ~ ~ ~ _ ~~r~ ~