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HomeMy WebLinkAbout0364 . , I+oR.Vt?t,uE R~cxtv~n, the undersigned promise(s) to pay to ~ , . , STOCKTG~1 ~ WIiATI,~X ~ D~VrN & C4i~II'ANY ~ ~ S ~ , a c~rporation organized and existing unc~er the lawa of State o~ F~ar3da ~ ~ or order, the princlpal sum of ~ TSLRT~1 THOUSAND, F(yUR HIJNDRED FIb~Y & OO1104 Doliars 13,~50.00 with i interest from date at the rate of Five & one-~ourth per centum ( ~ per ~ , ~ . annum on the unpaid balance unti! paid. The said principal and interest shal! be payable at the ofl3ce of srocx~ra~t, w~~t n4va~rr & ca~~~~x ~ in - Jacksonville, ~`lo~da ~ or at auch other plac~ as the holder may designate in writing, in monthly installments of SEY~ITY-FOUR & 38/100 _ Dollars 74•38 commencing on the firat day of JANIIARY ~ 1965 ~ and on the first day of each month thereafter un~il the principal and interest are fully paid, except that the flnal payment of the entire indebtedneas evidenced hereby, if not sooner paid~ shall be due and payable on the first day of DDCF~iBER , 19 94 • ; If default be made in the payment of any installment under thia note~ and if such default is not made ~ good prior to the due date of the next xuch instaiiment, the entire principal sum and accrued intereat ahali ; at once become due anci payable without notice at the option of the halder og this note. Failure to ~x~rcise thia option shalt not constitute a waiver of the right to exercise the eame in the event of any aubsequent E ~ default. In the event of defaul~ in the payment of this note, and if the sarne is coliected by an attorney ~ ~ at law,'the undei-sigmed hereUy agree (s) to pay alt costs of coltection, including, a r~asonable attorney'a fee. Presentment, proteat, and notice are hereby waived, j~ Cbarlea Dentnn 1Sirby ~ ~ ~ Charlea Denton Kirby _ • _ . ~ Cecilia Geneva Kirb r~~ _ ~ ~ Cecilia Geneva Kirby . : ~ ~ And shall duly, prnmptly, and f~Uy perform, di~charge, execute, effect, camplete~ and comply with and ' 1 ~ a b i d e b y e a c h a n d e v e r y t he s tipu la tions, agreemen t s. con di tione, an d covenan t s o f s a i d promissory note ' and of this mortgage, then this mortgage and the estate hereby created shall cease and be nul! and void. And the mortgagor further covenants as follows: 1. That he wfll pay the indebtedness~ as hereinbefore provided. Priviiege ia reserved to pay the. debt in whole, or in an amount equal to one or more monthly payments on the principal that are next dua on the note~ on the first da~~ of any month prior to maturity; Provid~d, however, that written notice vf an intention to exerciae such privilege is given at least thirty (30) c3ays prior to prepayment; and, provided further, thxt in the event the debt is paid in fuil prior to maturity and at that time it is insured under . the provisiona of the National Housing Act, he will pay to the mortgagee an adjusted premium charge of ;_:1 one per centum (1%) of the original principal amount thereof, except that.in no event ahali the adjusted premium exceed the aggregate amount of premium charges which would have been payable if the mort-~ gage had continued to i~e •inaured until maturits•; auch payment to b+e applied by the mortgagee upon its ~ 7 obligation to the Federal Housing Commissioner on account of mortgage insurance. 2. That, in order more fulty to protect the secarity of this mortgage, the mortgagor, together with, ~y and in addition to, the monthly payments under the terms of th~ note securec~ hereby, on the first day o~ ~ each month until the said note is fuliy paid~ will pKy to the mortgagee the following sums: (a) An amount sut~'icien~ to provide the holder hereof with funds to pay the next mortgage insurance premium if this instrument and the note secuzed hereby are insured, or a month~y charge (in lieu o# a mortga~e insurance premium) if they are hetd by the Federal Housing Commiasioner, as follows : ~ - If and so long as said note ot even date and thia inattvment are ineured or are reinsured under the ~ pro»siona o! the National Hausing Act, an amount su}flcient to accumulate in the hands of the ho2der one (1) month prior to ita due date the annual mortgage insurance premium, in order to provide auch ' holder with funds to pay such premium to the Federai Housirtg Commissioner pursuant to the National , Housing Act, as amended~ and applicable Aegulationa thereunder; or (ii) If and so long as said note of even date and this instrument are held by Ehe Federal Houeing Commie- aioner. $ monthly char (in lieu og a mortgage insurance premium) which shall be in an amoun0 equal to one-twelf~h of one-half ('i4 ) per centum ot the average outsLanding balance due on the note computed without taking into aceount delir~uencies or prepayments; (b) A sum equal to the graund rer~ts, if any, next due, plua the premiums that wil) next become ' due and payable on policies of fire and other hazard insurance covering the mortgaged property, plua ' taxes and assessments next due on. the mortgaged property (all as estimated by the mortgagee) less all suma already paid therefo~ divided by the number. of munths to elapse before one month prior to the date when such ground rents, premiums, taxes, and assessmenta will become detinquent, such auma to be hetd by mortgagee in trust to pay said ground rents, premiums, taxes, and special assess- ments; and ` (c) A21 payments mentioned in the two preceding subsectiona of this paragraph and all pay- - ment~ to be made under the note aecured hereby shall be added together and the aggregate amount thereof shall be paid by the mortgagor each month in a single payment to be applied by the mort- gagee to the following items in the order set forth; (t) premium eharqes uncier the cantract of insurance with the Federal Houaing Coznmisatvner~ or tnonthly chxrge (in lieu ot mortgAge insurance premium)~ aa the cuse may be; (tc ~round rents. taxes, as~essmerits, 5re, wnd other h~?sard insarance pr~niums; (ui ~nterest an the note seanred hereby; arld (tv) ntnortisation of the principst of ~id note. - Any deficiency in the amaunt of auch aggregate monthly payment ahali, unlesa made good by the mortgagor prior to the due date of the next such pa~?ment, conatitute an event of default under this mort- gage. The mortgagee may cultect a"late ch~rge' not to exceed two cents :for each dallar (~1} o# each payment more than fifteen (16) days in arreara to cover f.he extra expense involved in handling delinquent payment8. . That it the total oi the payments made by the mortgagor under (b) o# paragraph 2 preceding ahalt , exceed the amount of payments actually made by the mortgagee, for Rround rents. taxea and assesaments ~ • ~ " ~~R~ ~.03 pac~364 = r- . _ . _ _ . . . : ~ . .