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FOR ALtTB RIDcKlVBD, tho undenlped. prom1M(.) to {ra.yto .. .
1l00AUGKd .~!G.A.Q:& C(J(PUY. Dcl.lUCIE COUHn~ n.,
. & C('rporaUon organiu<\ and edating under
tbclawaof Sta.te of Florida. ,oro~l',th.princlpalaumof Ten
Thousand Nine ..Hundred Fif.ty. and 00,/100 Dollan ($ 101. 950,00;, with inteNst from
date at the Ate of z iv. Ii ~l1r.e fourth per ~ntwn ( 5 ,,4~) per annum on the unpaid
bal&nce until paid. The said vrinclpal and Intereat...lWl be payabM at the oftMo.e of
MCCAUGHU KOllNJ~GB CCl4PAlY, lie.
in Coral Gables, 'lor1da .oratlucl1otherplaceptheholJermaydeAipatem.
writing,in monthly in5tallmenta of s1Xty-tD.rE". and 95/100- - _1){\llan ($ 63..95 ).
commencing on the fint day of April . 19 61, ~d on tha fint day of each month the~
after until the principal and interest are fully paid, except that the 3na1 payment of the entire indebtedneM
evidence<\ hereby, if not aooner paid, shall 00 due and payable on the fint day l)! )(arch , 1991 .
If default be made in the payment of ~ insta1l:nent under this note, 'Uld if such default if! not IIU!.de
J'OOd prior to the due date of t~e n~xt 8uch mstallrnent, the entire prLl)cipa}llum and accrued interest shall
at once bec<ime due Md payable WIthout notice at the o-ption of the holder of this note. Failure t(l (llCercise
this option shall not constitute a.waiver of the right to exercise the same in the event of any subsequeut
default.. In the e.vent_of default In the payment of thi8 Mte. and if the lWIle is collected by an atton;ey
at law, the undenugned hereby agree(s) to pay all costa of collection, inclu~." reasonable attorney's fee.
Preaentmant. proteat, and notice are hereby waived.
__.!~lliam H. Griffi th
. ___.A.~_my o. Gr1!!i th
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_ And shall duly, promptly, and fully perform, discharge, execute, effect, complete, and comply with and
abide by each and every the stipulations, agreements, conditions, and covp.l1ants of said promissory note
and of this mortgage, then this mortgage and the estate h..:reby created shall cease and be null and void.
And the mortgagor further covenants 88 follows:
1. That he will pay the indebtMness, 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 firgt day of any month prior to maturity: Providet:, however, that written notice of an
intention to exercise such privilege is give!\ at least thirty (80) days prior to prepayment; and, provided
further, ths.l.t in the event the debt is paid in full prior 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 (1 0/0) of the original principal amount thereof, except that in no event ~h9-11 the adjusted
premium exceed the aggregate amount of premium charges which would nave been payable if the mort-
gage had continued to be insured until maturit)'; such payment to be applied by the mortgagee upon its
obligation to the FederEll Housing Commisaioner on account of mortgage insurance.
2. That, in order more fully to proted the security of this mortgage, the mortgagor, together with,
and in addItion to, the monthly payments under t'1e terms of the note secured hereby, on the first day of
each montll until the said note is fully paid, will pay to the mortgagee the following sums:
(a) If this mortgage and the said note secured hereby are insm..~ under the provisions of the
Nationai. Housing Act and so long 88 they continue to be so 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 Commissioner for mortgage insurance
premiums pursuant to the applicable provisions of the National Housing Ad, 88 amended, and Regu-
lations th~reunder; t~le mortgagee shall, on the termination of its obligation to p~y mortgage insur-
ance pr-emlUms, credit to the account of th~ mortgagor all payments rr.adc under the provisions of this
subsection which the mortgagee has not become obligated to pay to the Federal Housing Commis-
Eioner.
(b) A sum equal to the ground re!l~, if any, flext due, plus the premiums that will next become
Que and payable cn policies of fire and other hazard insurance covering the mortgaged property, plus
taxes and assesaments next d~e on the mortgaged property (all as estimated by the mortgagee) less
all sums already paid therefor divided by the number of m')nths to elapse before one month prior
to the date when such ground rents, premium9, taxes, and assessments will become delinquent, such
sums to be held by mortgagee in trust to pay said ground rents, premiums, taxes, and special assess-
ments.
(c) All payments mentioned in the two preceding subsections of this paugraph and all pay-
ments to be made under the note secured hereby shall be added together and the a~gregate 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:
I. premium charges under the contract of instlrance with the Federal Housing Com-
missioner;
n. i"'ound rents, taxes, asaeB8oents, fire, and other hazard insurAnce premiUIi18;
m. interest on the note secured hereby; and
IV. amortization of the principal of uid note.
Any deficiency in the amount of such ligg;egatc monthly \>8~'1nent Mall, unless made good, by the
morti&gor prir:>l" to the due date of the next SUCIl paFent, conshtu~ an event (;f default under thiS mort-
~age. The mortgagee may col1ezt a "late charge' not to exceed tWI) cents (U) fOl" e~:v:h do~lar ($1), of
e&eh payment more than ftfu:~n (10) days in 8rre~rs to cover the extra expense involved m handhllg
delinquent payment.8.
3. That if the total of the payments made by the mortgagor under (b) of paragraph 2 preceding 8hall
exceed the amount of paymenu actually mad::! by the mortgagee, for ground rents, taxes and asc;easmenta
a..,d insurance premiums, aa the case ms-y be, such ex~ lJhall be credited oy t.~e mortgagee on subsequent
I*1II1enta to be made by the mortiaaor. If, however, the monthly payments made by the mortgagor
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