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n.R. 6 4'r
F~R v ALUE R~C~VED, the underalrned promiae (s) t:J ~ to Bno ~ '" ;:)
XCCAUGHd JlCE!GAGB O(IIPAn~r.DilU: co~no n..
, a corporation o~ and exlati~ Uild8r
the laWl! of State:. of Jllorida , or order, th-c principal sum of JlourieoJl
Thousand }lour Hund.red and 00/100- - - Dollars ($ 14J4ooeOO ), with intereat from
date at the rate of live & three fourth pet eentum ( 5 ,,4") per annum-Oft the unpaid
balance until paid. The aald principal and intereet ih&ll be J)Vable at the oft\ce of
. KCCAUGHU JtCSTGAGB CCllPAfl'. r.c.
m Coral Gables. 1'10r14a ,or at &uch other placeu the holdcrmay dellipate in
writing, i~ monthly ins~lmenta of Eighty-four and 10/100- - _DoUara ($ 84.10 ),
comm('ncmg on the fint oay of Kay ,19 61. 6.nd on the first day of each month the.\"&-
after until the principal and interest an fully paid, except that the final payment of the entire indebtedneNI
evidenced hereby, if not sooner paid, shall be riue and payable on the first day of A.pril ,1991 .
If default be made in the payment of any in!ltallment under this note, 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 option of the holder of this notEo>. Failure to exereise
this option shall not constitute a wlliver of the right to exercise the same in the event of any subsequent
default. In the e.vent of default in the payment of this note, and if the 8&llle is collected by in attorney
at law, the underSigned hereby ag~e(s) to pay all ccsta of collootion, includin&.a reasonable attorney's fee,
Presentment, protest, and notice are hereby waived.
Jack Pe Holt
._~_~~~lmJo _ H~ t
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And shall (luly, promptly, and fully perform, discharge, execute, effect, complete, ana 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 fllrther 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 lire 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 given 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 iIl8ured under
the provisions of the Nationa! Housing Ad, he .....m pgy to the mortgagee an adjusted premium charge of
one per centum (1 %) of the original principal amount thereof, except that in no event shaH the adjusted
premium exceed the aggregat~ amount of premium charges which would have been pa:,-able 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, OB the first day of
each month until the said note is fully paid, will pay to the mortgagee thp. following sums:
(a) 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 ins1lred, one-twelfth (Iii;,) of the annual
mortgage insurance premium for the purpose of putting the mortgagee in funds with which to dis-
charge the said mortgagee's obligation to the Federal Housing Commissioner 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 insul'-
:ll1ce premiums, credit to the account of the mortgagor all payments made under the provisions of this
suhsection which the mortgagee has not become obligated to pay to the F{,deral Housing Commis-
~lOner.
(b) A sum equal to tht! ground rents, if any, next due, plus the premiums that will next ~come
Que and payable on policies of fire and other hazard insurance covering the mortgaged property, plus
taxes and as;;essments next due on the mortgaged property (all &8 estimated by the mortgagee) less
all sums already paid ther~fl)r divided by the Ollmber of months to elapse before one month prior
to the date when such ground rents, premiums, taxes, and assessments will become delinquent, such
sums to be held by mortgagee in trust tt) 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 t,; he made under the note secured hereby shall be adde<i together and the aggregate amount
thereof shall he paid by the mortgagor ee.ch month in a single payment to be appiied by the mort-
gagee to the following items in the order Ret forth:
J, premium charges under the contract of insurance with the Federal Housing Com-
missioner; .
II. ground rents, taxes, assessments, fire, and other hazard insurance premiuma;
III. interest on the note secured hel'eby; and
IV. amortization of the priilcipal of said note.
Any deficiency in the amount of such aggregate monthly payment shall. unless made good. by the
mortgagor prior to the due date of the next such parment, constItute an event of default under thiS mort-
gage. The mortgagee may collect a "late charge' not to exceed two centB (2f) fo~ each dol.1ar ($1). of
each payment more than fifteen (15) days in arrears to cover the extra expense 1Ovol\'ed 111 handlmg
delinquent payments. '
3. That if the total of the payments made by the !llOrtgagor under (b) of paragraph 2 preceding shall
exceed tne amount of payments actually made by the mortgagee, for ~ound rents; taxes a.nd 8S8e8LUDenu
and iIl8urance premiums, as the case may be, such excess shall be Credited by the mortgagee on 8ub3equent
paymenta to be made by the mortgagor. If, however, the monthly paymenu made by the mortgagor