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O. a.
6001
8
45
FOB VALUE RECKlYm, the undersigned promi.'Ie (8) to pay to
ST. lUClr t0Ut1TY, FLA.
~T~, HARl'llfG . BmBT, DC.
, a corporation oriaJilied and exiau.ng under
the laws of Mlz7l.1lDd . or order, the principal sum of
lUJ18 'D'~.JllI)d 1UDe BuDdrecl .i'UV e4 Bo/l.OO Dollara ($ 9,950.00 ), with inwrest from
date at the lAte of J'1ve . ~u&z"ten per centum (~3/)" %) per annum cn the unpaid
balance until paid. The said principal and interest tlhall be payable at the office of -
_ Bosler, Ba.rt.1:aa . B1sb't, Inc., Beat 713
in Bau G&ll1.e, nor1dA , or at such other place &1 the holder may d-.irnate in
writing, in monthly installments of ~..e1F't .w1ll/J..OO - - - - Oc,llan ($58.11 ),
r.ommencmg on the first day of JuDe , 19 61. ,and on the first day o! each month there-
after nnW the principal and interest are fully paid, exc~pt that the final payment of the entire indebtedneaa
evidenced hereby, if not sooner paid, shall be due and payable on the first day of April ,If-so. .
If default be made in the payment of any installment under this ~~te, 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 01 the holder of this note, Failure to exerciae
this option shall not constitute a. waiver of the rifht to exercise the Balne in the event of any subse<{uent
defa1Jlt. In the e.vent 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 collection, including, a reasonable attorney's fee. ,
Presentment, protest, and notice are hereby waived.
/6/J~ W. St.a.ftord
w_.._._______~____________
. . .
, And shall duly, promptly. ~nd fUlly perfonn, di8('harge, e::tecute, effect, complete, and comply with and
abide by ~ach and every the s~lpulations, agreements, conditions, and covenants of said promissory -ote
and of thIS mortgr.ge, then thiS mortgage and the estate hereby created shall cease and be null ana void,
And the mortgagor further covenants as follows:
1. That he will pay the indebtedness, as herein~fore 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, 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 insured under
the provisions of the National Housing Act, he will pay t:> the mortgagee an adjusted premium charge of
one per centum (1%) of the original principal amount thereof, except that in no event shall the adjusted
p!"emium exceed the aggregate amount of premium charges which would have been payable if the mort-
gage had continued to be insured until maturit.r; 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 tenns of the note secured hereby, on the tirst day of
each month until the said note is fully paid, will pay to the mortgagee the 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 insured, one-twelfth (1'1~) of the annual
mortgRge insurance premium for the purpose of putting the mortgage;:> in funds with which to dis-
charj;e 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-
l?tions thereunder; the mortgagee shall> on the tenninatioll of its obligation to psy mortgage insur_
ance premlUms, credit to the account of the mortgagor all payments made ullder the provisions of this
subsection which the mortgagee has not become obligated to pay to the Federal Housing Commis
~lOncr.
(b) A sum equal to the ground rents. if any, next due, plus the premiums that will 'neTt become
due and payabll'! on policies of tire and other hazard insurance covering the mortgaged property. plus
taxes and assessment~ next due on t~le mortgaged property (all as estimated by the mortgagee) less
all sums already paid therefor divided by the number of munths to elapse before one month prior
to the date when such ground rentR, premiums, taxes, and assessments will become delinquent, such
sums to be held by mortgagee in trust to pay said ground rents, premiums, taxes,and special assess-
ments. .
(c) All payments menticned in the two preceding 8ubsect!o1'\s of this paragraph and all pay-
ments to be made under the no,te secured hereby shall lw added together and the aggregate amount
thereof shall he paid by the mortgagor each month in a single payment to be applied by the mort-
gagee to the following Hems in the order set forth:
I. premium charges under the contract of insurance with the Federal Rousing Com-
missioner;
II, ground rents, taxes, assessments, fire, and other hazard in8~r8ncc premiums;
III, interest on the note secured hereb)'; and
IV, amortization of the principal of said note,
Any deficiency in the amount of such aggregate nllmthly payment shall, unlel\S made good by the
mortgagor prier to the due date of the next s~ch p~rment. constitute an event of default u~der this mort-
gage, The mortgagee, may collect., a "Iaie c~arge not to exceed two cenis (2~) fo~ each do~lar ($1). of
each pa~'ment more Uian fifteen (15) days 10 arrears to cover the extra expense 1Ov\...lv0d 10 hhndhng
delinquent payments, . -
3. That if the to..al of the paymenta made by the mortgagor under (b) of paragraph 2 preceding shall
exceed the amount of payments cctually made by the mortgagee, for ground rents, taxes and 88Sessmenbt
and insurance premiums, 88 the cage may be, such excess shall be credited by the mortgagee on subsequent
payments to be made by the mortgagor, If, however, the monthly payments made by-tile mortgagor
e
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