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Fos Vni.US }iscBiv~, the underaIgaed promise(s) to pay to
ST. ! IE COUNTY, FLA.
AME~IOJ-ti TITI.~ INBURANCN (30MP
- , a corporation organized and existing under
the Lws of Florida , or order, the principal sum of 8lxtedn thouearxl
eight hundred and No/100 Dollars (;16 800.00 ), with interest from
date at the rate of Five de three-lOUrthe per centum ( 5-3/x+' 96) per annun- on the unpaid
balance until paid. The esid principal and interest shall be payable at the office of
~meriaan Title Insurana4 Qompany
~ Miami , Florida , or at such other place as the holder n~a~- designate in
writing, in monthly installments o2 Ninety-eight and 11/100 Dollars (; 98.11 ),
commencing on the first day of February , 1961 ,and on the ftrat day of each month there-
r-f~~ until tt-e priac:;.:.1:.ad irts:est a,~ fully paid, except that the ftnal pw•ment of the entire indeb#~r~
evidenced hereby, if not sooner paid, shall be due and payable on the ftrat day o! January , 1991 .
If default be made in the pa}-a:ent of say installment under tl'.is nct.-.r., sadaf a~~^h defa~.~lt iR net r~,ulA
good prior to the due date of the next such installment, the entire principal sum and accrued interest shall
at aace b~^zc due sad ps.;~,ble Ziitiiviit notice :.t the aptioa of the holder flf this sots. Fsalure tc erorr,an
this option shall not constitute a waiver of the ri t to exercise the same in the event of, any subsequent
default. In the event of default in the payment of thin note, and if the same is collected by an attorney
at law, the undersigned hereby agree (s) to pay all cx-sta of collection, including a reasonable attorney's fee.
Presentment, protest, and notice are hereby waived.
s/ James 0. 1KasBey (Seal)
James 0. Massey
_______sL_Helen H. Masee~_____________~13ea1)
Helen H. Massey
And shall duly, promptly, and fully perform, discharge, execute, effect, complete, and comply with and
abide by each anfl every the stipulations, agreements, conditions, and covenants of said promissory note
~^.a .^,f' L1E1s^.:ort~ ^e, ±~'.en ti,:s rrortgRop pnd the cetat,~ hereby cr+pated AhAll cPaae Rnd hP null send void,
And the mortgagor further covenants sa follows
1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to pay the
debt in whole, or in an amount equal to one or more monthly payments on the principal that are next due
on the note, on the first day of any month prior to maturity: Provided, however, that written notice of an
intention to exercise such privilege is given at least thirty (30) days prior to prepayment; and, provided
t~,rFhPr, thRt in the event the debt is Wald in full urior to maturity and at that time it is insured under
the provisions of the National Housing Act. he will pay to the mortgagee an adjusted premium charge of
one per centum (1q6) of the original principal amount thereof, except that in no event shall the adjusted
premium exceed the aggregate amount of premium charges which would have been payable if the mort-
gage had continued to be insured until maturity; such payment to be applied by the mortgagee upon its
obligation to the Federal Housing Commissioner on account of mortgage insurance.
2. That, in order more fully to protect the security of this mortgage, the mortgagor, together with,
and in addition to, the monthly payments under the terms of the note secured hereby, on the first day of
each month until the said note is fully paid, will pay to the mortgagee the following soma
(a) If this mortgage and the said note secured hereby are insured under the provisions of the
National Housing Act and ao long as they continue to be so insured, one-twelfth (1;~) of the annual
mortgage insurance premium for the putpose of putting the mortgagee in' funds wit which to dis-
charge the said mortgagee's obligation to the Federal Housing Commisaioi-er for mortggaa a insurance
premiums pursuant to the applicable provisions of the National Housing Act, sa amend, and Regu-
lations thereunder; the mortgagee shall, on the termination of its obligation to pay mortgage insur-
ance premiums, credit to the aceount of the mortgagor all payments made under the provisions of this
subsection which the mortgagee has not become obligated to pay to the Federal Housing Commis-
• stoner.
(b) A aura equal to the ground rents, if any, next due, plus the premiums that will next become
sue and payable on policies of tMe and other hazard insurance covering the mortgaged property, plus
taxes end assessments next due on the mortgaged property (all as estimated by the mortgagee) less
all sums already paid therefor divided by the number of months to elapse before one month prior
to the date when such ground rents, premiums, taxes, and assessments will become delinquent, such
soma to be held by mortgagee in trust to pay said ground rents, premiums, taxes, and special asaess-
menta.
(c) Aii payments mentioned in the two preceding au'bsectiona of this paragraph and all pay-
ments to be made under the note secured hereby shall be added together and the aggreggate 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 orddr set forth:
n premium charges under the contract of insurance with the Federal Hc~ing Cozn=
miasioner;
II. ground rents, taxes, assessments, ftre, and other hazard insurance premiums;
~. interest on the note secured hereby; and
iv. amortisation of the principal of said note.
Any deftciency in the amount of such aggregate monthly ppaayment shall, unless made good by the
znortga~or prior to the due date of the next snch pa}rment, oonatitute an event of default under this mort-
gage. The mortgagee slay collect a "late charge' sot bo exceed two cents (2S) for each dollar (;i) of
each payment more thaw fliteea (16) ..days in arrears to Dauer the extra expense involved in handling
delinquent payments. .
8. That H the total of the payments made the~nort~r under (b) of paragraph 2 preceding shall
ezeeed the smount of payments actually made tha aiortaa~e0. for d rents, taxes and aaaeaamenb
sad insurance premiums, as the case may laCelfi slutll bq ted by the mortgagee on subsequent
pwments to be made by the mortsagar. , however, s monthly paymeab made by the mortgagor
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