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Home My WebLink About1030 I, n ~:,' ~, , . o ,) I ,: ,1 I FOR VALUE HF-CF.I\'ED,the undersignell prolllis~(s) to pay to ,-.":"" .... - ". ~ G,-il C'!i"~Y, rL t, SO:'~THEASTSm: ;,:C?\TJ..~'}'S cm~~Al;Y , a corporation crg-anized and ex;stipl{ under the laW8 of tr.e str,tE: ')f F10rio,u. ,ororoer, till: principal sum of ;'!irn. tLOv.Bi-.:.nd 1'i ve hunc,:-cd ami. No/100 Dollars ($ 9 ,J0':;. 00 ), with interest fro~ date !lot the rate of Fl va t:. t.:u-ee-fOuI'tLs per cellt.i.i,,~ ( 5- 3/1.:r ~;.} l>'.:'f annum on the unpaid balance until paid. The said principal .and interest shall be payable at tile o!1ice of SOLl. ~l'.ei~6 tel'rl Mortgage Company) 1340 Wea~ Fl~g]er St~eet) . ' in l-ilax.l) F10rlo.a ,or at such other place as the holder mayde;lgnate 10 writing, in monthly installments of Fifty o.;:d 6!~/lOO Dollars ($ 5('. t:4 ), commencing on the first day of !.laj' , 19 S 1 ,and on the first day of each month there. I\fter until the principal and interest L".re fully paid, e~cept that the final payment of the entire indelJtl'dness evidenc[-d hereby, if not sooner paid, shall Oc due and payable on the first day of A)l'll ,~2C') 1. If default be made in the payment of any installment under this note, and if such defaul~ is not made good prior to the due date of the next such installment, the entire pnncipal sum and accru~d lIltl'n'st sh,all at once become due and payable without notice at the option of the holder of this note, Fmlun' to l'xerClse this option shall 110t constitute a waiwr of the right to exercise the same in the cn'nt of any suhsequent default. In the event of default in the paynll'l1t of this nutl'. and if the same is collected by an attorney at law, the undersigned hereoy agrcp (s) to pay all costs of colle<:tion, including. a reasonable attorney's fee. Presentment, protest, and notice are hereoy waived. (~r1 r:." :::L.n1.e Dr c.,rl,,~t-"r'. <'.... . S v' . ~ v ..... v _ _ "'" ..J \.4........ '-" ... .,I ~ ./ ~..... .I.... ~ a:'f:'}~fc.. to ori.'lnal n':J':e :1.:.0. c..'. ~'cd \ ~ ..., ...,-, t". _...;... . I .......BL_.J.Q@n L~_~_uJQt'!:!".9n. ____' .\;?c':lJJ, John Lce ;;(.J~ rlson 8/ Loi t\ ..::- oLr. 8 c::-. La 1 C l.T 01"'.:-'. f, 0 r. (Seal) And shall duly, promptly. Rnd fully perform, dischrlrg-e, execute. effect, complete, alH! comply with and abide oy each and e\"t'ry the :o;tipulations, agreenu'nls, conditions, and con'nanls of :o;aid prollli,.;,.;ory note and of this mortgage, Own thi~ mortg;lge and the estate hereby created shall ccase and Ii..' null and void, And the mort gag-or furthe~ covenants as follows: 1. That he will pay the indehtl.dnE'ss, as hereinhefore provided, Pri\'ih'~l' is rl',.;er\"l'd to pay the debt in whole, or ill an amount .l'qual to one or !l\OI'l' monthly payments on till' prinl'ipallhat an' next dtH' on the note, on the first day of any n\Onlh prior to malurity: Provided, howe\l'r, that writtl'n l\Otln' of an intention to l'xercisl' such pri\ile~e is ~l\en at Jt.ast lhirty (:W) days prior to pn'paymt'nt; and, pro\'idl,d further, that in the e\"t'nt the debt i" paid in full prior to maturity and at that tillit' it i~ insl1n.d undt.r th! provisions of the ~ationalll()using Act, Ill' will pay io the !lWrtg-ag-l'e an adjusted pn'lllium char~l' I'f one per centum (1~; ) of the ofiginal principal amount thcrt'of. except that ill 110 ('n'nt shall the adj llsted premium exceed the aRlCn'lCate amollnt of pn'mium char!{l's which would han' Ilt':'n paya!,lt' jf thl' mort. gage had cOl1tinucd to II(' insuh'd until maturity; 8uch payml'l!t to be applipd hy the lllort~agl'e upon its obligation to the Federal HOllsing Commissiollt'r on account of mortgage insurance, 2. That, in order more fully to protect the security of this m(:rtg-ag-c, till' lllort!{a~or, tf)~dl1t'r with, and in addition to, the monthly payments under the terms of the note s..'cUrt'(! lll'reby, on the lil'st day of each month until the said note is fully paid, will pay to the :nortgagee the fullowing sums: (a) If this mortgagE and the said note 8P.cun'd hereby are insured undt'r the pl'l)'.isions of till' NationallIousini Act and so long as they continue to he so insured, one-twl'lfth (II") of till' annual mortgage insurance premium for the purpose of putt in" the mortgag-ee in funds with which to dis- charge the said mortg-agee's obligation to the Federal Housing Commissiolll'r for mortgage insurance premiums pursuant to the applicable provisions of the National Housing Act, as amended, and H('g-u- lations thereunder; the mortgagee shall. on the termination of its oblig-ation to pay m()rt~a~e insur. ance premIUms, credit to the account of the mortgagor all paYP1enls made undl'r tilt' provisions of this subsection which the mortgagee r.as not become obligated to pay to the Federal llouslllg COlllmis. fi0l1er. (b) A sum C':}ual to the ground rmh. if any, next due, plus the premiums that will npxt become due and payable on policies of fire and othl'r hazard insurance covering the m{)rt~a~ed propt'fty', plus taxes and assessments' \ ~t due on the mortgaged property (all as estimatl'd by the mort~agel') less aU Sums already paid t.. "efor divided by t,he number of munths to elapse before one I1wllth prior to the date when such ground rents, pre!lllums, taxes, and asse~sments will oecome dl'linquent, such 8ums to be held by mortgagee in trust to pay eain ground rents, premiums, taxes, and spe~ial assess- ments. (c) All payments mentioned in the two preceding subsectiong of this paragraph and all pay- ments to be made u!lder the note secured hereby shall, be a~ded together and the aggregate amount thereof shall be paId by the mortgagor each month In a Single payment to I)e applied by the mort- gagee to the following items in the order set forth: I. prem~u~ charges under the contract of insurance with the Federal Housing Com- mIssioner; n, ground re~ts, taxes, assessments, fire, and other hazard insurance premiums; III. interest on the note secured hereby; and IV. amortiration of the principal vf said note. Any deficiency ill the amount of such aggregate monthly -payment shall, unless madE good bv the mortgagor prior to the due d!lte of the.~ext such p~rment, constitute an event of default under this inorL- gag:e. The mortgagee may collect a .ate c~arge not to exceed two cents (2~) for each doilal" ($1) of dCh payml;lnt more than fifteen (1:J) days In arrears to cover the extra eJ(l)€n8e involved in handling delinquent payments, 3. Th&t if the total of the payments made by the mortgagor under (b) of paragraph?' preceding shall exceed the amount of paymenta actually made by the mo~g~. fol' ~ound rents, taxes and ass('ssments and insurance premiums, as the case may be, such excesa Ilhalll>e credited bv the mortgagee on subs('quent payment. to be made by the mortgagor. If, hov. avel', the monthly payments made by the mortgagor e e