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Home My WebLink About1036 FOR VALUE RF.CEiVED, the undersigned promise (s) to pay to n ~ :fJJ l' IJ . ),. . (~}' \ so:.; .:1IEASTI:RN MORTG..'l.1E CG:~FJ\:~ , a corporation organized and ex;sting under the laws of t:le State of Florida ,or order, the principal sum of Nine tnousand :'1\"0 ~undred and i~o/lOO Dollars (f 9, .sac. OC ). with interest fro~ date at the rate of Fi va & three-fourth6 per centum ( 5-3/4 If() per annum on the unpaid balance until paid. The SB.!d principal and interest shall be payable at the (,tlke of Sou theab tern Hortgage Company, 1:340 'l~e6 t Flagler Strot't, , , in "1 1 Fl ld or at such other place as the holder may deSignate In writi~.g,~m'oIlthl~1nst:\lment.~of Flf'liY an'd 61.;/100 Dollars ($ 50.64 ), commencing on the first day of }.~hj. , 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 l'ntire indebtl'dness _ evidenced hereby, if Il0t sooner paid, shall be due and payable un the fIrst day of Al-,rl1 ,JSt 2Q').L. If default be made in the payment of any installment und~r thi:, note, and if such default is no~ made good prior to the due date I)f the next such installment. the entire prinCipal sun~ and accru~d IIItl'rl'st sh,all at once become due and pnvable without not in' at the option of the holder of thiS note, Fadun' to l'xerClse this option shall not constitute a waiver of the right to exercise t~e same in tl~e e\'ent of any suhsl'quent default. In the event of default in the \laymeat of this noh:. and If the same 13 collected by an attorn~y at la~', the under:;igned hereby agrep(:;) 'to pay all costs of collection, including. a reaslinable attorney's f~. Presentment, protest, and notice are hereby waived. 0, T. L U C T ~:w" - y. r LA , ($9.50 State ~ocumentarJ Sta~pB affl>"dd to ()r~_:.lr.al nate <.rd. ca.ncelled.. ) ~ s/ Alfonso Cc~11n6 .. '-'AJ.:l' 0:1"0 6-ljo-''"1~~-;18- (Seal) ,.,f!.1 Lee A!1nr, ;:;0:.11n6 Le'e' Anna' Collins' (Se[,l) And shall duly, promptly, and fully perform, discharge, eXe<:'ute, effed, complete. and comply wi~ hand abide by each and every the stipulations, agn'ements, conditions, and covenants of ~aid pro/lli~sory n~te 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 foHows: 1. That he will pay the indebtedness, as hereinhefore provider:. l'ri\'ilege is reser\'l'd to pay ti1(' debt in whole, or in an amount ~qual to e>ne or more monthly payments on the principal that an' nl'xt due on the note, on the first day of any nl'Jnth prior to maturity: Pro\'ided. lll'\\,l'\'l'!', that \\ritt('n lIotice of an intention to exercise such privilege is given at least thirty (:W) 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 insun'd under the provisi0ns of the Nationalllousing Ad, he will par to the mortgagee an adjusted pn'miulll charge of one per centum (1 ~(-) of th€ original principal amount then'of, l'xcept that in no e\'l'nt shall the adjusted premium exceed the aggregate amount of premium charges which would ha;,'(' I)('('n payable if the Illort- gage had continued to he insured until maturity; such payment to be applil'd hy the nlOrtgagl'l' upon its obligation to the .Federal Housing COPlmissioller on account of mortgage insurance. 2. That, in order more fully to protect the security of this mortgage, the mortgagor, togl'llll'r with, and in addition to, the monthly payments under the terms of the note se(:ured herd)y. on the first day of each month until the said note is fully paid. will })<lY to the mortgagee the following sums: (a) If this mortgage and the said note secun'd hereby are insured under the pnJ\isions of the National Housing Act and so long as they continue to be so insured, oIH'-twelfth (1\..) of till' annual mortgage insurance premium for the pnrpose of putting the mortg~~gee iil funds wifh which to dis, charge the said mortgagf'e's obligation to the Federal Housing Commissioner for mortgage insurance premiums pursuant to the applicable provisions of the National Housing Act, as amended, and negu- lations thereunder; the mortgagee shall, on the termination of its obligation to pay Illortgage insur- ance premIUms, credit to the account of the mortgagor all payments made under till' prll\i:..;ion:..; of this subsection which the mortga3'ee has not become obligated to pa)' to the Federal l1uu:::;ing COlllmis- Eioner. (b) A sum equal to the ground rl'nts, if any, next due, plus the premiums that willn('xt hl'CO!lW due and payalJle on policies of fire and other ha4ard ir,surance covering thl' lliOrtgagl'd prtlp\'rt~'. pIns taxes and assessments next due on the mortgaged property (all as estimatl'd h~' the llIort~agl'l') I('ss all sums already paid therefor divided by the number of munths to e1aps(' before Olll' Illonth prior to the date when such ground rents, premiums, taxes, and assessments will become delinl)u('nt, such sums to be llf'ld by mortgagee in trust to par said gro:.tnd rents, premiums. taxes, and special assess- ments. (c) All payments mentioned in the two pre<:'eding subsections of this paragraph and all pay- ments to be made u!1der th~ note secured herehy shall he added togethei' and the aggregah' amount thereof shall be paid by the mortgagor each month in a single payment to l~ applied hy the mort- gngee to the following items in the order set forth: . I. prem.iuf!1 charges under the contract of insurance with the Federal Housing Com- mIssIoner; II. ground relits, taxes, a3Sessments, fire, and other hazard insuran~e p"l'mit;ms; III. interest on the note secured hereby; and IV, amortization of the principal of :"aid note. Any defl<;iency in t~e amount of such aggregate monthl)-' payment 8hall, unless madp KO(lll hy the mortgailor prlOr to the Que date of the n('xt such parmEnt, constitu~s:' an (,\'Pnt of rif'fault nlHIl'r this llIort- aage, The mortga&ee may collect a "late charge' not to exceed two c('nts (21) for each dollar ($1) of each payment more than fifteen (15) days in arrears to cover the extra expense illvolvcd in halldling delinquent paymenta, - 8. That if the total 0: the pnymenta made by thelTlortgagor under (b) of paragraph 2 rrL'Cpoing sha1l exceed the amount of payments actua1ly matte by the mortgagee, for ~round rents, taxes and aSSI'"sments and inaurance premiums, as the c~ may be, such excess shaH be credited by the mortgagee on sub!l{'(1uent Jla>1IDent& to be made by the mortKll8'Or, if, however, the monthly payments made by the mortgagor . -