HomeMy WebLinkAbout0381
~b~j
5
381
----
ST. LUClr (OUNTT. rLA.
FOil V;.LUE REcEIVED, the undenig!led promise (8) to pay to
SOUTHEASTERN MORTGAGE OOM?JJlY
. a ool1X>ration organiu!d and existing under
the lam of the Bta \ 11 of F1.oJ,"1da . or order, tho pnncipalsum of Nine thousn~
f~ve hundred and No/lOa . Dollan ($ 9.500.00 ), with inureat fro~ -
date t.t the rate of Five" three-fourths per centum ( 5-3/4 %) per annum on the unpald "-
b~lante until paid. The uid principal_lld intereet shall be payable at the office of 80utheallteMl
Mortgage Oompa~, 1340 West Flas1er Strctt,
in Ml ami Florlds . or at such other place &8 the holder may designate in
mtin,., in mo~th1Y installments of Fifty and 64/100 Dollan ($ 50.64 J.
commendnl on the li~t day of Auril ,1961 ' and on the first day of ~fi mo ~th there-
after until the principal Md interest are fully paid, except that the final payn;ent of the entire indebtedness
evidenced hereby, if not sooner paid, shall be due and payable on the first day (\f March , MIl 2001.
If default be made in the pAyment of a.."lY installment u!1der this note, and if such default is not made
good prior to the due date of the next such installnent, the entire pi"incipal b'lm and ~rued interest shall
at once become due and payable without notice at the option of the holder of this note. Failure to exercise
this option shall not constitute a waiver of the righi; to ex~rcise the Rame in the event of any subsequent
default. In the ev~nt of default in the payment of this note, and if the same is collected by an attorney
at law, the Imdersigned hereby agrt>e(s) to pay all costs of coUedioll, includ:ng,a rea.aonable attorney's fee.
Presentment, protest. and notice are hereby waived.
{$9.50 S~aGe DOOlli~ent3ry Stamps
affixed to o~lg~nal note an~
CCi.;1Ce} ~Cc._. )
___u.___~ Naldu8 RobertD--L--I~t~_~~JJ.
Naldua Robe~ts, Jr.
___.m___@L-L_1.J..ll_e_.Ka~__EQP_~j"-'tj__{5e al} .
Lillie Mae Roberta
--~---- ~ .~------------- -------------------------------------------
And shall duly, promptly, and fully perform, discharge, execute, effect, complete, and compiy with Pond
abide by each and evt'ry the st;pulations, agreements, cor,ditions, and covenants of said promissory note
and of this mortgage, then this m(lrtgage and the estate hereby created shall cease and be null and voi<:l.
And the mortgagor further covenants as follows:
1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reseryoo t..) pay the
debt in whole, or in an amount ?Qual to cne or more monthly payment~, or. the principal that are next due
on the note, on tile 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 (~O) 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 provisions of the National Housing Act, he will pay to the mortgagee an atijusted premium charge of
one per centum (1 ~fc,) 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 insurdnce.
2. That, in order more full)' to protect thc security of this mortgage, the mortgagor, together with,
and in addition to, the monthl)' payments under the terms of the note se<;ur~d hereby, on the first day of
e.ach month 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 insured under the provisi0ns of the
National Housing Act and so long as t}1~y continue to be so insured, one-twelfth U12) of the annual
mortgage insurance premium for the purpose of putting the mortgag~ in funds with which to dis-
charge the said mortgagee's obligation to the Federal Housing Commissioner for mortgage in:;urance
premiums pursuant to the applicable provisions of the National Housing Act, as amended, and Regu-
lations thereunder; the mortgagee shall, on the tennination of its obligation to pay mortgage insur-
ance premiUms, credit to the account of the mortg&gor all payments made under the provisions of this
s~bsection which the mortgagee has not become obligated to pay to the Federal Housing C{)mmis-
~lOner.
(b) A sum equal to the ground rents, if any, next due, plus the premiums that will next become
due and payable on policies of fire ai1d other hazard insurance covering the mortgaged property, plus
taxes !lnd assessments next due on the mortgaged property (all as estimated by the nloTlgagc(') l~s~
all sums already paid therefor divided b;y the number of months to -elapse before ('Be month prior
to the date when such ground rents, premiums, taxes, and assessments will become delinquent, such
Bums to be held by mortgagee in t"ust to pay said g~und rents, premiums, taxes, and special assess-
ments.
tc) All payments mentioned in the two preceding subsections of this paragraph and all pay-
ments to be made under the note l;Iecured herc~y shall be added together and the aggregate amouQ!:
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 insurance with the Federal Housing Com-
mwioner;
n. ground rents, taxes, assessments, fire, and other hazard insurance premiums;
III. interest on the note secured hereby; and
IV. a.'llortization of the principal of said note.
Any deficiency in the amount of Buch aggregate monthly payment ehall, unless made good by the
mortgagor pr:or to the due dute of the next such payment, constitute an e\"en~ of defa.llt under thid m::lrt-
gage. The mortgagee may collect a "late charge" not to p.xceed two cents (20 for each dollar ($1) of
each paymmt more than fifteen (15) days in arrears to covei. the extra ex~nse involved in handling
delin,-!uent paymen~.
3. That if the total of the payments made by the mortgagor unJer (b) of paragraph 2 preceding shall
e.xceed the amoul1t of payments actually made by the mortgagee, for ground rents, t3xes ~md assessments
~nd immr&.nce premiums, &8 the CU4! may be, luch excess shall be credited by the mortgagee on subsequent
payments to t-e made by tha mortg9.gor. If, however, the monthly payments made by the m-:>rtgagor
e
-