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Fos Vwzua R~csty®, the undersigned promise(s) to pay to c T. ! UCIE CQU!(Tr. FLA.
YOC YCR'M~AaY CC~AIfY, I1~Q,
, a corporation organized and existing under
the Lws ad State of Florida , or order, the principal sum of Ten
Thousand One Hundred and 00/100- - - ~~ (i 10 100.40 ), with interest from
date at the rate of Bive d~ three f Ourth per centnm ( 5 3/4 %) per annum on the unpaid
balance until paid. The aatd principal and interest ahaIl be payabk at the o81ce of
. DiCCAIIGHAlI Y~TGAG$ COI~AHY, IAC.
~ Coral Gable s ~ Florida , or at such other place as the holder may designate in
writing, in monthly inatalhnents ad Fifty-eight and 98/100- - -Dollars (; 58, 98 ),
oommeacing on the Brat day of April ,19 61, and on the flrat day of each month there-
after until the principal and interest are fully paid, except that the final payment of the entire indebtedness
evidenced hereby, if not sooner paid, shall be due and payable on the P1.--at day of D[arch , 19 91.
If default be made in the payment of any installment under this note, and if such default is not made
good prior to the due date of the next such installment, the entire principal sum sad accrued interest shall
at sacs become due and payable without notice at the option of the holder of this note. Failure to exrri;i+de
this option shall not oonatitute a waiver of the right to exercise the same in the event of any subsequent
default. In the event of default in the payment of this note. and it the same is collected by an attorney
at law, the undersigned hereby agree(,s) to pay all costa of collection, including..s reasonable attorney's fee.
Presentment, protest. and notice are hereby waived.
Piles J. Heckendorn
Sara L. Heckendorn
And shall duly, promptly, and fully perform, discharge, execute, effect, complete, and comply with and
abide by each and every the stipulations, agreements, eonditiona, and covenants of said promissory note
sad of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void.
And the mortgagor further covenants as follows:
1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to pay the
debt in whole, or in as amount equal to one or more monthly payments en the principal that are next due
on the note, on the ftrat day of any month prior to maturity : Provided, however, that written notice of an
intention to ezercise ouch privilege is given at least thirty (80) days prior to prepayment; and, provided
further, that in the event the debt is paid in full prior to maturity and at that time it is insured under
the pro:~iaiona of the No~or.~1 Hous~Wg Act, he w;tt p!y t4 the mortgagee an adjusted premium charge of
one per centum (ly6) 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 Commiaaioner on account of mortgage insurance.
L. `l-hat, iII bran ~it)ri~ fully W NjvuoG~ `u`i~ ~:uriry of tiua iiivi~YaYa, was u~ur~gngo~, tv~ctheT with,
and in addition to, the monthly pa guts under the terms of the note secured hereby, on the Brat 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 so long as they continue to be eo insured, one-twelfth (1;~) of the annual
mortgage insurance premium for the purpose of putting the mortgagee in funds wit which to dis-
charge the said mortgagee's obligation to the Federal Housing Commtasioner for wortgage insurance
premiums pursuant to the applicable provisions of the National Housing Act, as amended, and 13egu-
lationa thereunder; the mortgagee shall, on the termination of its obligation to pay mortgage insur-
ance premiums, credit to the amount of t1~e mortgagor all payments made under the provisions of this
subsection which the mortgagee has not beooone obligated to paLy to the Federal Housing Commis-
SlOner.
(b) A sum equal to the ground yenta, if any, next due, plea the premiums that will next become
sue and payable on policies of lire and other hasard insuraace coverhig the mortgaged property, plus
taxes and assessments next due on the mortgsg~i property (all as estimated by the mortgagee) leas
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 a8ae8amenta will become delinquent, such
soma to be held by mortgagee in trust to pity acid ground rents, premiums, taxes, and special asaess-
menta.
(c) All payments mentioned"in the two preceding aubsectiona of this paragraph and all pay-
ments to be made under the note secured hereby shall be added together and the aggregate amount
thereof shall be paid by the mortgagor each month is a singia payment to be applied Dy the mort-
gagee to the following items in the order set torch:
L premium charges under the contract of insurance with the Federal Housing Com-
missioner;
u. ground rent, to=e~. asseasinents, fire, sad other hazard insurance premmiums;
ui. iabereet on the note aecared hereby; and
iv. amortisation oZ the prindpal of said note.
Any deficiency in the amotmt o! each :mate mont]~j- g~yemeat shall, unless made good by the
mort~~r prior to the due date of the next sash' eat, ooristitute an event of default under this mort-
gag+e.- The mortgagee may collect a "life dhtur~ sot to exceed two ceata (?.f) for each do1Lr (;1) of
each payment more thaa fifteen (lb) dsya in arrears to cavesr the eadra sspense involved in handling
delinquent pya~ents.
8. That i! the toll of the pa~menta made b th~emortgagor >~ (b) of paragraph 2, preceding shall
eocceed the amount of paymeab actuallfrma~ the Wis. fos ~u rents, tasea and aaaeeamenb
sad insaraaa pareatituos„ as the case too~y ea~edrapx i~~i be a~n~c tti d bey the mo ~ snbaegwnt
ps~yments do bs,made by the mortgagor. hewrwr, the moothl, pttynwota tmadethe mortgagor
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