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Home My WebLink About0038 ~J8 FOJ1 VALUE RECX1VEf1, the undersigned promt.Je(a) w pay tu ST. LUC!E COU~TY,'rlA, A..~RIC;AN 'I'I'l'LE HU1UP.ANOI OOKrANY , a corpcration o~~ni:.ed anti exidti.li' under the laws of !' lor1t'..a for o:der, the princi!)aluum of '1\;61 ve thousand two hnn6.red and No/100 Dollana {$ 12 ZOO. 00 ). with interest from date at the ra..,e of L'~ve " tb:reo-tourtMpt'f centwn ( 5-3/4 90 per ann am on the unpaid bale.nce lmtil paid. :r'he.aaid principal and bt.creat shall be payable at t~e office of Amer10an 'I'1t1e In8~rance Co~pany in Miami, Florida ,or ,~ ~uch other ;>l&ce as the holder may <1~ii'u.te in writmg, in monthly installments of 5aventy-one and 2.5/100 Dollars ($ 71.2.5 ), c~mnlencing on the finst day of April . 19 61, &cd on t~~ ilrst day of each month thp-re- after until t~.e prillcipl\1 and ~nterest L-e fully paid. except that the final payment of the entire indebte<!ness eviden<:oo hereb~', if not sooner paid. shall be due and pa.~'able on the fu~t day of ~oh , 19 91. If default be made in the payment of any insb,:'rent und~r this not.e, and if such default is not made good prior to the due date of the next S:1ch installmt:r.t, tl~e entire principal 8um and a.::crued interest shall at once become due and )layable without notice a'i; the option of the holder of this note. .l'-"ailure to exercise this opo-JI\ shall nDt constitute a waiver of the right to exerci~ the same in the e-,'ent of any subsequent defnult. In. the eve'ftt of uefault in the payment of this not€, and if the same is coil~ted by an attorney at law, the undersigned hereby agr~ (s) to pay all costs of collection, includbg. a N88Qnable attorney's fee, Presentment, protest, and notice are hereby waived. . ......~L Haro-*- LO\'Je Haro1u. Lowe (Seal) .__.___J:!L_france_G A. ~.<?_~_~ , France8 A. Lowe (seal) --------- ---------- "------ And shnll duly, promptly, and fuUy perfonn, discharge, execute, effect, complete, ar.d comply with and abide by each and every the stipulations, ag<-eements. conditions, and covena:nta of said promissory note 8-'1d of this mortgage, then this mortZ'ag~ and the estate hereby created :Jhall C€a8e e.n,d be null and void. And the mortgagor further covenants as follows: 1, That he will ray the i"'ldebtedness, as hereinbefore provided. Privilege is rp~erved to pay the debt in whole, or in an Nllount equal to one or more monthly payments on the principal that are next due on the note, on the first day of any month !lrior to maturity: Provided, however, that written notice of an inte~tion ~ exercise such privilege is given !lot least thirty (30) days prior to prepayment; and, provirled further, that in the event the debt is paid in full P;OT to ma~urity 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 (1 %) of th~ original prinCipal amount thereof, except that in no event shall the adjusted premium exceed the aggregate: amount of premium charges which would h&ve been payable if the mort- gage had continued to be insured until rnaturit)"; such payment to be applied by the mortgagee upon its obligation to the Federal Housing Commissioner Oil account of mortgage insur!mce, 2. That, in order more fully to protect the security of this mortgsjSe, the mortgagor, together with, and in addition to, the monthly payments under the tenns of the note secur~ hereby, on the first day of each month until the said note is fully paid, wiit pay t.o the mortgagee the following sums: (a) If this mortgage and the said note ~ured hereby are insured under the provisions of the National Housing Act and so long as they continu~ to be so insured, one-twelfth (IA:{) of the annual mortgage insurance premium for the purpose of putting the mortgagee in funds with which to dia- ~harge the said rr.artgagee's ohligation to the Federal Housing Commissioner for mortgage insu!'ance premiUIns ,ursuant to the applicable provisions of the National Housing Act, as amended, and !tegu- lations tht>reunder; the rr:.ortgagee shall, on the te.nnination of its obligation to pay mortgage insur- ance premluma, credit to the account of the mortga!fOr all payments ma3e under the provisions of this subsection which the mortgagee has not oowme obligated to pay to the Federal H.;using Com.mia- fioner. (b) A sum cqull1 to the ground rents, if "ny, next due, plus tte premiums that will next become Que and payable on poiicies 'Of fire and other hazard insuranC2 covel"ing the mortgalred property, plus taxes and assessments next due on the mortgagee. property (aU a.a estLrnated by the mortgag-:e) less ad sums lJready paid therefor divided by ~he number of months to elaps.e before one mOIlth prior to thr. ~te when such ~und ~nts, prem1!lm'l, !AXes, and 8.88essmen~ will become delinquen~: -:'tch Bums to 00 held by mortgagee li1 trust t.o pay Bald grour:.d rents, prenuums, taxes, and speCialS! 8"~ ments. (c) All payments mentioned in the two preceding subsections of this parqraph and all pay- ments to be made under the note secured hereby shall be added toJ6ther and the aggreJate Im',ount thereof shall be paid by the mortgagor each month in a single payment W be applied by the mort-- ~agee to the following itans in the order set forth: 1. prern.i~ charges under the contract of inaurEUlce with the Federal Houaing Com- mlAIOner j n": ground rents, taxes, asaei;.'IDlenta, fire, and other haz8.rd insurance premiums: m. interest on the note aer;ured hereby; and IV. amortization e>t ~..b€ principal of saitJ. note. .AJly deficiency- in tt.e &moun~ -r..f IU17h a&,gr~at4! monthly payment shall, unlp.85 ml\de good by ille mortpgor prior to the due date G~ the !,1'!xt such ~ptte~lt, conatitute an tlvent of default under this m?rt.- p.ge.- The I!lO~ mAY eoH<<'cl ;! f}at.) charp' not to e;tcted two ~ta (~) for each dollar ($l) of ~ payment more than iUteen (16) daya in arreara to cover the extra exp<;nJe i~volved in handlinir delinquent paymeuta. 8. That it th9 total of t.~e pr..ymenta mad!l1;,y the m~rt3i.iC'f under (b) of para&Taph 2 prec~ing ehall ~eeed the amou!it of yayt&1~nta actually made by the mo~, for Jl1'Ound re~tz, taxes and aaaeumenta and inaurance premiuma, 38 the cue may OOl,,~ch excea8 sh..ill be credited by th9 mortgagee on subaequent ~ta to be made by the mo~~r. d, ho'\--:evu. tile lOOuthly ~ym:mta. made by the mortp,gor __1 - --'~~IIIIiIiiIl''' ':iL,:,'~.k.;,li%.""'''''i';;''''~~''~'''''' "'Ii: Ir~~''':1I&11 ~...~, "~t.\:.1il.1b... !i;'~ Ilrt"-~