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jo'oa VALUE RECEIVED, the undersi4ued promiae(lJ) to pal to ST. LUCI[ rrUNTY, ru.
30UT"dE.ASTE~ )(ORTGAGJ: OOMPANY
, a c~rporation organized t.lld existin,: under
the !aWl of th~ a ta t e . 0; Flori~Cl t or order, the prmcipalsum of Nine thousand
f1 va h'J.no.red ani No/100 Dollars ($ 9.500.00 ). with interest from
date at the rate of Five & three-tourthlpei. centum (5-3/4 %) per annum on the unpaid
balance until paid. TIlt! u.1d principal and int~rest shall hP. payable at the office of SOUTHEASTERN
MORTGAGE CO~~ANY, 1340 W~8t Flagler Street, .
in Kie,:nl, Florida . or at such ot1}er place ail the holder may desl,rnate in
writing, in monthly installments of F1fty a.~~ 64/100 Dollara ($ jo.6Lj. ),
commEncing on the first day o! Apr11 ,1961, and on the first day of each month there-
after until the principal t.lid interest are full). paid, except that the final payment of the entire indebtedness
evidenceC hereby. if not sooner paid, shall be due and paYd-ble on the first day of Karoh , lIE 2001.
If default be made in the paymeut of any installment under this notto, ana if such default is not made
good prior to the due date of the next such installment, the entire princi~l sum and accrued intered shall
at once become due and payable without notice at the option of the holder of this note. Failure to exercise
thi'l -ption shall not constitute a waiver of the right to exercise the same in the event of any subsequent
d2fa.~" In the event of def~ult in the payPlent of this note, and if the same 1S c()lIected b~r an attorney
at law, the undersig':led hereby agree(s) to pay all c08~ of collectivD, hcluding, a reasonable attorney's fee.
Presentment, protest. and notice su-e hereby waived. '
-. ) .'.
($9.50 state Documentary Stamps
affixed to original ro-ce and
s/ ltdward James
--------------mward James
(Seal)
----------
8L Isabelle R. James (6eal)
--- ---- -- -Ut s ab-eITe--R-:-uJaine s--------------------
And shall duly, promptly, and fully perfonn, discharge, execute, effect, complete, and comply with and
abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note
and 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 ilereinbefore provided. Privilege is resen'ed 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 :'lote, on the first day ()f any month prior to maturity: Provided, however, that written notice of an
inttntion to exercise such privilege is given at least thirty (30) days prior to prepayment; and, provided
further, that in the event the debt is paid in full prior to maturity and :It that time it is insured under
the provisions of the National Housing Act, he will pay to the mcrtgagee an adjusted premium charge of
one per centum (1 '?() of the original principRI arr.ount thereof, except that in no event shaH 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; ,>uch payment to be applied by the mortgagee upon its
obligation to the Federal Housing Commissiuner 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 not:e is fully paid, will pay to the mortgagee t~1e following sums: -
(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 so insured, one-twelfth (1'1") of the annual
mort~age insurance premium for the purpose of putting the mortgagee in funds with which to dis-
charge the saia mortgagee's obligation to the Federal Housing Commissioner for mortgage insurance
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 obiigation to pay Mortgage insur-
ance premIUms, .:redit to the account of the mortgagor all pay~ents made under the provisions of this
s~bsection which the mortgagee has not become oblIgated to pay to the Federal Housir.g Cornmis-
~lOner.
(0) 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 and other hazard insurance covering the mortg~ged property, plus
taxes and assessments next due on the mortgaged property (all 88 f8timated by ~he mortgagee) ~e8S
all sums already paid therefor divided by the number of monthe to elapse before one month prior
to the date when such ground rentd, premiums, t.Ilxes, and assessments will become delinquent, such
sums to be held by murtgagee in trust to pay said ground rents, premiums, taxes, and special assess-
ments.
(c) All payment.. mentiolJed in the two preceding subsections 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 in a single payment to be applied by the mort-
gagee to the following items in the order set fcrth:
I. premium charges under the contract of insurancp. wit!--. the Fed~ral Housing Com-
miasioner;
n. ground rents, taxes, assessments, fire, aad other hazard insurance F"pmiuma;
III. interest on the note secured hcrehy; and
IV. amortization of the principal of said note.
Any defidency ill tn'} amount of such aggregate monthly payment shall, unless made good h the
mortgagor prior to the due date of th(> next such payment, cO:1stitute an event of default cnder this mort-
K~e. The mortgage-a ma!, collect a "Ide chr.rge" not \.0 ex~eed two tenta (U) for each d()liar ($1) of
each payment more than 11fteen (15) days in arrears to cover the extra expense involved in handling
delinquent payments.
3. That if the total of the payments made by the mortgagor nnder (b) of paragraph 2 preceding shall
e:xc~ the amount of payments actually made by the mortgagee, for ground rents, taxes and 85aeSBJDenta
s.nd insuranc~ premiums, sa the case may be, such exces..'i Eha!l be credited by the mortgagee on subsequent
paymeniB t,> be made by the mortgagor. If, however, the montJ-liy paymenttl made by the mortgagor