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Home My WebLink About1345 .. """""'- 1~ E---~-' ....:..L..~. r;. ~, t3DCK Ii 5~~j FOR V:ALUE ~ECE1VED, the undersigned promisees) to pay f~T. LUCIE COIJNTY, ru, ANE..l\ICAN LC.TLE I~~SURANCE OOHPANY . · corporation organUed and exiat~ under the laws of Florida , or order, the principal8um of Thirteen tn()u8~nd two l-,undrcd '\r'.d No/lOQ_ Dollars ($ 1),200.00 ), with interf>st from dateattherateof Fiole & :r.ree-fow,thapercentum (5-:3/4 %) per annum on the unpaid balp.nce u:ltil paid. The said principal and Interest shall be paynblg at the office of knel'l~a.n 'I'lt1e Inourance Company in :Lta.:ll! Flcr~da . or at such oth~r pl&ce 8~ the holder may de6ignate in writing, in month!y instellmenta of Seventy-sever. and 09/100 Dollars ($ 77.09 ), commencing on the first day of .Apr II , 19 61 , and on the first day of each month there- after until the principal and interest are fully paid, ~x.cept that the final payment of the entire indebtedness evidenced hereby, if not sooner paid, shall be due and payable on the first J~y of 14arch , 19 91 . If default be made in the payment of any installment under this note, and if such default Is noL r~~de good prior to the due date of the next such installment, the entire principal Sum and ,,"ccrued interest Rh~!! at once become nul.' and payable without notice at the option of the holder of this note. Failure to eXdt:ilSe this option shall not constitute a waiver of the right to ex<.!rcise the same in the event of any subsequent default. III the event of default in the payment of this note, and if the same is collected by an attorney at law, the undersigned hereby agree(s) to pay all costs of coliection, including. Q Teaaonab!e attorney's fee, Presentment, protest, and notice are herebr waive(;. ~~1:.~8 ~t~te 00cu~~ntary 3L'L~~''3 ('ff~Y2d. :0 ').:'ll:inal - ,,-, .".:; ", r., p l' e..:l ) - . J l l.j <-;. 4.1...... \., cJ...... \,.;...... J.. \..~. s/ James C. M~rBhHll (Seul) .-.--.. --- T;';t-esC:-l,:a l'S~le.l r----.--uu-- +.- -. ~-------------------- ----------------~------ h----t;Jj--M~RJ._~.J{~~~1.::,C1.1:t _ '~-----m-___1~~~l) ;'~crle ~~t..rshall - - - - -----.... -----.---- -- -------------_._----------~._--------------- And shall duly, promptly, and fully perform, discharge, execute, efrect, complete, and comply with ~d abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this mortgage, then this mortg'age 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, howcvcr, that written notice of an intention to l'xercise such pri\ ilege is given at least thirty (30) days prior to prepayment; and, provided further, that in the event tilt' debt is paid in fu!! prior to maturity and at that time it is insured under the pro\"i~~ions of tne National Housing Act, he will pay to the mortR'agee an adjus'ed premium charge of one per centum (I r,( ) of thl' original principal amount then'of, ?xcept that in no event shall the adjusted premium exce(>d the aggrl'l,-:"ate amount of premium charges which would have be(>n payable if the mort- gal{l' had continued to he insun'd until maturity; such payment to be applied by the mortgagee upon its obligation to the Federal Housing Commissioller on account of mortgage insurance, ~. That, in ordl'r more fully to protl'ct the security of this mortgage, the mortgagor, together with, and in addition lO, th" monthly paynwnts undcr the terms of the note seC'jred hereby, on the first day of each month until the said nutl' is fully paid, will pay to the mortgagee the following sums: (a) If this mort!{aR'e ann thl' sain note sect:red hereby are insured under the provisions of the Kational Housing Act and so long as thl'Y continue to be so insured, one-twelfth (1;~) of the annual nwrt~aR"e insuralll'l' premium for the purpose of putting the mortgage(> in funds with which to dis- charge the said mortgaJ.ree's obligation to the Federal Housing Commissioner for mortgage insurance prl'Illiums purslJant to the applicahle provisions of the NationallIousing Act, as amended, and Regu- lations thereunder; till' mortgaj({'e shall, on toe tem1ination of its obligation to pay mortgage insur_ ;lllce I'rt'llllUIllS, ITt'dit to the account of the mortgagor all payments made under the provisions of this sllh';l'ctj..n which the mortgagee has not Occome obligated to pay to thc FederallIousing Commis- ~ loner. (h) A sum equ:d to the ground rents, if any, lH'xt due, plus ~he premiums that will next become GUt' alld ; 'a,\'al ,I.. on pilI it' it'S of fire and other hazard insurance covering the mort;.\'aged property, plus taxt's alld .~SSt'SSlIll'lI t S nex t dUl' lJil thl' mortJ.raged property (all as estimated by the mortgagee) less all SlIrllS aln';~d~' paid th'Tl'fur di\"ided by the number of munths to elapse before one month Pi ior to tilt, dah' wht'n Sljch ground rf'nts, premiums, taxes, and assessments will be-::ome deiinquent, such SUIllS tu Iw Iwld b~' lllortgaJ.rel:' in trust to pay said ground r"nts, premiums, taxes, and special assess- nll'n ts, (r) A II pa:;llll'nts I1H'1I1 iUl1co in till' t \\'0 prl'Ceding subsl'ctions of th is paragraph and all pay- mt-nts to hp madt' uIH!t'r thl' notl: st'('url'd hen'hy shall be added together and the aggregate amount thl-rl'of shall tIt' paid by the mortgagor each month in a single payment to be applied by the mort- gaK"" to the following itl'lllS in the order set forth: I. IH'l'mium charges undf'r the contract of insurance with the Federal Housing Com- missioner; II. !n"ound rl:'nts, taxes, assessments, fire, and other hazard insurance premiums; ill. interest on the note ~'Cured hereby; and IV. amortization of the principal of said note. Any dp(icil'IH'y in th., l:010unt of such aggn-gate monthly payment shall, unless made good by the Illort.gagllr prior to the dup datt' of the !lext such pavnll'nt, constitute an event of dpfault under this mort- KaJ.re, Till:' mortgagl'l' may Cllltl'ct Il "late cha:'ge,l not to exceed ~wo cenu (2~) for each dollar ($1) of t'ach pa~'ment mort' than flftl-en (15) days in arrears to cover the extra expense involved in handling delinquent paympnts. ~. That if the total of the payments made by the mortgag0r under (b) of paragraph 2 preceding shall exceed the amount of payments actua!ly made by the mortgagee, for ground rents, taxes and assessmenta and insurance premiums, as the case may be, such excess shall be cre:lited by the mortgc..gee on subsequp.nt payments ~() be i:1ade by the mortgagor. If, however. the monthly payments made by the mortgagor