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Home My WebLink About0769 ........s~ ~.... . ~ -...:~"~i..'.....;..,':.....::.. ~,..:.~..........., o N. aOSK 6 IU ].'OR V Al.UE REeF..! VED, the undersigned promise (a) to pay to 'T. LUCIE cnlll1"'y FlA SOUTHEASTERN l.{QRTGA(}E COMPk'cr, . .n I. . , a corporation organized and existing under the laws of the State ot Florida ,O! erder, the principalsurn of Nine thousa.:1d five t.unJ.red and NO/100 l)Q~lars ($ 9,500cOO ), with interest from uate at the rate of Five & tru-e8-tou.rths per centum ( 5-3/4 %) per annum on t~e unpaid balance until paid. ThE' said principal and intereat shall be payable at the office of Southeastern Mortgage Company, 1340 Weet Flagler street, in ~iami, Florida , or at such other pla-:-e as the holder may desigcate k writing, in monthly in,taIlments of Fifty and 64/100 Dellars ($ 50.64 ), commencing on the first day of April ,19 61, and on the first day of each month there- after until the principal and interest are fully paid, except th.:.t the ~nal pa)ment of t~e entire indebtedness evidenc~ hereby, if n\)t sooner paid, r;ha!l be due and payable or. th~ first day of March , laX 2001. If default be made in the payment of any installment under this .lOte, and if such default is not made good prior to the due date of the next such installment, the entire principal sum and accrued interest shall at once become due and payable without notice at the ontion of the holder of this note. Failure to exercise this option sh.all not cOTlstitute a. waiver cf the right to exerdse the same in the event of any subsequent default. In tne e.vent of default in the payment of this not,e, and if the same is coliected by an attorney at law, the underSigned hereby agree (s) to pay all ('ost8 of collection, including. a reasonable attorney's fee, Presentment, protest, and notice are hereby waived. ______...flj_;J am .f!~_ Edg "1' James Edgar ____u__(~_e.9.]. ) " __ m ____~J__E4.nL\_J1_.m.~..g~ ___ __.m______m___h_~_@!'_~J. ) Edna. :<1. Edgar 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 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 first day of any month prior to maturity: Provided, however, that written notice of an intention to exercise such privilege is giwn 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 at that time it is insured under the provisions of the National Housing Act, he will pay to the !I1origagee an adjusted premium charge of one per centum (1 ~c) of the original principal amount thereof, except that in no event shall the adjusted premium exceed the aggregate amour:~ 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 insurance. 2. That, in order more fully to prutect 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 m0nth until t~e said note is fully paid, will pay to the mortgagee the following sums: (Ci) 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 t ~) of the annual mortgage insurance premium for the purpose of putting the mortgagee in funds with which to dis- charge the said mortgay,ee's obligation to the Federal Housing Commissio'1er 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 termination of its obligation to pay mortgage insur_ ance premlUms, credit to the account of the mortgagor all payments made under the provisiuns of this subsl'Ction which the mortgagee has not become obligated to pa;,' to the Federal Housing Commis- ~ ,oner. (b) A sum equr.l to the ground rents, if any, next due, r,lus the prf>miums that will next become due ar\d payable un policies of fire and other hazard insurance co\'erinR' the mortgaged property. plus taxes and assessments next due on the mortgaged property (all as estimated hy the morigagee) less all sums all'eady paid therefor divided hy the number of munths to elapse before one month prior to the date when such ground rents, premiums, taxes, and asses:-.ments 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 paragraph and all pay- ments to be made under the note secured herehy shall be added together and the aggregate amount thereof snaIl he paid by the mortgagor each montil i,i 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; II. ground rents, taxes, assessments, fire, and other hazard in:nlrar:ce premiums; III. interest on the note secured hereby; and IV. amc.rtization of the principal of said note. Any deficiency in 6e amount of such aggregate monthly payment shall, unless made goud. by the mortgagor prior to the due date of the lt€xt such payment, cnl1stitute an e-,'ent of default under thiS mort: gage. The mortgagee may collect a "late charge" I'..ot to exceed two cent.8 (2f) fo~ each dol.1ar ($1). or each payment more than fifteen (15) days in arrears to cover the extra expense 1I1volved 111 handhng delinquent payments. ~. That if t.he tota! of the payments made by the mortgagor under (b) of paragravh 2 prece~;ng shall exceed the amount of payments actually made by the mortg:lgee, for ~ound rents, taxes and MSeSl'mpnts and insurance premiums, as the case may be, such exce88 shall be credited by the mort.gagee on subsequent pJ1Yli1enta to be maje by the mortgagor. If, however, the montilly payment.s made by the mortgagor - --