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Jo'OR VALUE RECEIVED, the .,ndersignM promis€(a) to PAY td T. LUCIE CfUNTY, H~..
50tTHE4S:'ERN UCF.TGAGE COMPANY
, a col'POration organized and edsting unaer
the aWl of tl16 State of Florida ,or order, the principal sum-of Nine thousand
fi ve r.undred an~. NO/10C Dollars (~9 J 5CO. )0 ), with interest from
date at the rate of Fi va a: thrEle-fourths per centum ( 5-3/4 %) per nnnum Oil toe unpaid
balance until paid. 'The laid principal &Ild interest ah'lll be pa)'able at the office of Southeastern
Mnrt6ege C~~pany: }J40 West Flagler Street,
in ~-!1a!:li, Florida ,or at such other plAce as the holder may d~te in
writing, ~ mouthly inaWlme:lta of Fifty and 64/100 ' l)Qllan ($ 50. 64_ ~,
commencmg on the first day of April ,1961 ,and on the first day of each month there-
after until the principal and interest are fully paid, except that the final payment of the entire indelJtNness
evidenced h~reby, if not sooner paid, shall he due and payable on the first day of Mc>.rch ,tt 20.01-
If ~t'fault be made in the payment of ~y installment under this note, and if such default is n"t made
good pnor to the due date of the n~xt such lI~stallment, the eIltire principal sum and accrued interest shall
at .once ?ecome due and payalJle wltho:..lt notIce at the option of the holder of this note. Failure to exerdse
thIS option shall not ronstitu te a. waiver of the righ~ !-O exercise t~e &.'illle in the event of pny subsequeIlt
default. In the event of default In the payment of tlllS note, and If the same is collected bv an attomev
&t law, the unde!"signed hereby agree (8) to pay all costs of collection, including. a reasonable attorney's fee.
Presentment, protest, and notice are hereby waived.
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\~al :er
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Yearby
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Charlie gae Yearby
And shall duly, promr,t1y. and fully perform, discharge, execute, effect, complete, and comply with and
abide by each and e\'ery the stipulations, agreements, conditions, and covenants lA 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 ('o\'e11ants as follows:
1. That he will pay the indebtedness, as hereinbefore proyided. Privilege is reserved to pay th",
debt in whole, or in an amount equal to one or more monthly payments on the principal that ..re next due
on thC' Tlote, on the first day of any m0nth prior to maturity: Provided, howen.r, that written Dlltiu~ of an
intC'ntion to exercise su~h pri\ilejZe is given at least thirty (30) days prior to prepayment: and, provided
further, that in the en'nt the debt is paid in full prior to maturity and at that time it is insured under
the provisions of the Nationai Housing Act, he will pay to the mortgagee an adjusted premium charg2 of
one pel c.entum (1 r{ ) of the original principal amount thereof, except that in no eH'r.t shall the adjusted
premium exceed the aggreg-ate amount of premium charges which would have been pa~'ahle if the mort-
gag-e had .:'ontinued to he insured until maturity; such payment to he applied by the mortgagee upon its
obligation to the Federal H0using Commissioner on account of mortgage insurance.
~. That. in order more fully to protect the security of this mortg-age, n f' mortgagor. together with,
and in addition to. th(' monthly payments under tile terms of the note secured hereby, on the first day of
each month until the said note is fully paid, wiil pay to the mortgagee the following sums:
(a) If this mortgage and the said note secun'd hereby are insured under the pro\-isions of tne
Xational Housing Act and so long as they continue to be so insured, one-twelfth (II::) of the annual
mortgage insurance premium for the purpose of putting the mortgagee in funds with which to dis-
charge the said mortgagpe's obligation to the Federal Housing Commissioner for mortgage insurance
prpmiums pursuant to the applicable pro\'isions of the National Housing Act, as amended, and Regu-
lations thereunder: the mortgagee shall, on the termination of its obligation to pay mortgage insur-
ance premIUms, credit to the account of the mortgagor all paympnts made under tlw pru\'isil,n;.; of this
"u!l"ection which the mortgagee has not become obligated to pa;r to the Federal Houslllg Commis-
nemer.
(0) A :,um equal to the ground rents. if any, next due. plus the premiums that will next iw('ome
due and payable on pulicies of fire and other hazard insurance covering the ni(.rtgaged prt'l'l'rty. plus
taXt's and aSSl'""nwllts next due on the mortgaged property (all as estimated hy the mortgagpd less
all sums already paid therefor di\"ided 1)y the m.:mber of munths to elapse before one nwnth pri0r
t.o the date when such ground rp)1ts, premiums, taxes, and assessments will bPcome delinquent. sucr..
sums to be held by mortgagee in trust to pay said ground rents, premiums, taxes, ann special assess-
ments.
(c) All payments mentioned in the two pre<'eding sub~ections of this paragrapD and all pay-
ments to he made under the note secured herelJy shall !)(' added together and the aggregate amount
thereof shall be paid by the mortgagor each m:lDth 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-
missioner;
TI. ground rents, taxes, asoessments, fire, and other hazard insurance premiuDlB;
III. interest on the nol€ secured he;-eby: and
IV. amortization of th~ principal of said note.
Any deilciency in the amount of such aggregate monthly payment shail, unless made good. by the
mortgaF'or prior to the due date of the next such p2yment, cOllstitute an e\ eot of defsult un?er thiS mort-
gc1g~. The mortgagee may eqllect 2. "late charge" not to exceed tw(: cents (2<') for each ool.1ar ($]). of
each payment more thll~ fifteen (15) days in arrearfi to cover the extra eXp€n&€ ~nvolved 1Il handling
delir.quent payments. -
3. That if the total of the pa~rments madE by the mortgagor under (b) of paragraph 2 pre<:pding shall
exceed the amount of p&ymcnts actt;ally made by the mortgagee, for ground rents. taxes and as~{'ss:ner.ts
and insurance premiums, as the case may be, such excess shall be credited by the mortgagee on subsequent
payment.! to be made b,y the mortgagor. If, however, the monthly payments made by the mortgagor
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