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Home My WebLink About0786 f, " u. K. 3';~ ~ D , , ...-. dD FOR VALUE RECEIVED, the undersigned promise (s) to pay to '"' r, L UC '[ C 011;" ~ Y. F LA. SOUTHEASTERN MORTGAGE CmrPANY , a corporation .organized and existing under the laws cJ. the state of Florida ,or order, the princ~pal sum of JUne thousand f:\.ve hunlli'cd and Ho/100 Doll!U"S ($ 9,500.00 ). with interest from da'te at the rate of Fi ve & t.hree-quartere per centum ( 5-3/4 %) per &nnum on the unpsid balance until paid. The said principal and intere{lt shall be p~able at th~ t;lffice Qf southeastern Mortgage Oompany, l3~O West Fl&b1er ~tree~, h~ Miami, Florida , or at such other place as the holder may designate in writing, in monthly installments of Fifty and 64/100 Dollar3 ($ 50.64 ), commencing 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 indebtedness evidenced hereby, if not sooner paid, shall be due and payable on the first day of March , - 200:. If default be made in the payment of any installment under this note, and if such default is not made good prior to the due date of the next such installment, the entire principa. sUln and accrued interest shall at once become due and payable without notice at the option of the holder of this note. Failure to exercise this option :lhall not constitute a waiver of the right to exercise the same in the event of any subsequent default. In the event of default in the payment of this note, and if the same is colleded by an attorney at law, the undersigned hereby agret(s) to pay ~n c03ts of collection, including. a reasona~le attorney's fee, Presentment, protest, and notic\.. are hereby waived. - I I ($9.50 State Documentary Stamps affixed to original note and c3:1celled.) u__m_~j_~ookS' Muywea th~~n___ (~~a~) B!'ooka Y.ay'tTsa theI' -- u - -. -----. -------------------------- ---------------------------.- .. _ s.I_~m~~_~J!:l_~_J~_~~'_n}1aywE3_~:t_l1_~!:___J~~~~) Er~estine May M~eather - - - -- -. - -- - - -- --.--- _.---_.-- ----------- - --------.--- -- -------- -- --------------------- And shall duly, promptly, and fully perform, discharge, execute, effect, complete, and comply with a!1d abide by each and every the stipulations, agreements, conditiona, and covenants of said pror.1issory 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 'shole, or in an amount equal to one or more monthly payments on the principal that arL next due OIl 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 given at least thirty (30) daYb 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 adjusted premium charge of one per centum (11ft) 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 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 note is fully paid, will pay to the mortga~ee the following sums: (a) If this mortgage and the said note secured hereby are insured under the pro\-isions of the National Housing Act and so long as they continue to be so insured, one-twelfth (1\;;) of the annual mortgage insurance premium for the purpose of putting the mortgagee in funds with which to dis- charge the said mortgagee's oi1ligation to the F .!deral Housing Commissioner for mortgage insurance premiums pursuant to the appli~ble 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 premIUms, credit to the account of the mortgagor all payments made under the provisions of this subsection which the mortgagee has not become obligated to pay to the Federal Housing Com mis- ~ioner. (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 and other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property (all as estimated by the rr.ortgagee) less all sums already paid therefor divided by the number of month8 to elapse before one month prior to the date when such ground rents, premiums, taxes, and ass,-ssmel'ts wii! become delinquent, such sums to be held by mortgagee in tr.Jst to pay said grouild 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 hereby shall be added together and the aggregate arr..ount thereof shall be paid by the mortgagor e!Lch month in a single payment to be applied by the mort- gagee to the following items in the order set forth: I. prem.iuf!i charges under the contract of insurance with the Federal Housing Com- ml&!lOner; II. ground rente, taxes, assessments, fire, and other hazard irumrance prcmi ums; ill. interest on the note secured hereby; and IV. amortization of the principal of ~.:jd note, Any dp.fi~iency in th~ amount of such aggregate monthly payment shall, unless made good by the mortgator priOr to the due date of the next such pa~ent, constitute au event of default ander this mort- g2.gCh. he mortg....g.~ may collect a "late charge' r.;>t to exceed two cents (2~) for each dollar ($1) of e&C. payment more than fif~n (15) days in arrears to cover the extra expense involved in haridling dehnquent payments. - . 3, That if the total of the payments made by the Joortgarcor under (b) of paragraph 2 preceding shall exc~ the arn(\unt C?f payments actually made by the mortgagee, for ~und rents, taxes and M5e3&J1lenta and insurance premlU1l'l.IS, a8 the caae may be, such excess shall be credIt.ed by the mortgagee on subsequent pA.,vmenta to be made by the mortgagor. If, however, the monthly paymenta made by the mortgagor e -