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Home My WebLink About0420 "'."'.: .-.-'. ." '. :.....: ....,. >~'.'- '- ,',;. ~ ':..":./". ,~'.. .'., .'.....:... <_.... . ib~t 13 mE420 :.--. FoIl VALUK RBcmvm. the underalJZt~~~~.llpU.to IIOCAUGHAB KOBfGAGB COIIPAl'Y. DC. . , . corporation 01"J1Ulised and exiatinr under tbela..fIf State of 1101'1da ,oronler, the principahum of !welTe thou.an4 alul 00/100- - .. - - - - - - -Dollan 1$12 000.00), with intereat from date at the rate ot-I1 ve & three fourth per centum ( 5 , /'l ,,) per annum on the unpaid balance unm paid. The laid prlndpal and interelt Ihall be_pyable At the offtee of - , IICCAU'GIWI IICJl!GAGB CtE'AlIY. 1110. iD Coral Gables. florida ,or at auch other place.. the holder may deaianate in writinc, in monthly lnatallmenta at :JeYeJl'tl' and oa.a,oo- - - - -DoUan ($ 70.08 ), commeneiq on the lint day of J.usus't ,1961 ,aDd on the first day of each month there- after until the principal and intereet are fully paid, except that the ftnal payment of the entire Indebtedneea evidencecLbereby, If not sooner paid, shall be due and payable on the ftnt day of Jul.1 , 19 91. If default be made in the payment of any installment under this note, and if such default fa not made rood prior to the due date of the next such installment, the entire principalsurn and accrued intereat shall at once ~me due and payable without notice at the option of the holder of this note, Failure to exercise thia option ahall not constitute a waiver of the right to exerciae the same in the event of any subsequent default. In the o!vent of default in the payment of thfa note, and if the same fa collected by an attorney at law,~e undenillled hereby &pee(s) to pay all eoeta of collection, inclu~a reasonable attorney's fee. Pi'eaentment, protest, and notice are hereby waived. _tiltoD. W.intraub .__~g.8eaar7 Weintraub And aha1l duly, promptly, and fully perfonn, discharge, execut.!, effect, complete, and comply with and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this mortgage, then thiJ! mortgage and the estate hereb)" created shall cease and be null and void. And the mortgqor further covenants as followa: 1. That he will pay the ind'!btedness, 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, however, that written notice of an intention to exercise such privilege is given at least thirty (30) days priG:" 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 to the mortgagee an adjusted premium charge of one per centum (1 %) of the original principal amount thereof, except that in liO event shall the adjusted premium exceed the aggregate amount of premium chargca which would ha-..c been payable if the mort- rage had continued to be insured until maturit)"; such payment to be applied by the mortgagee upon its obligation to the Federal Housing Commiaaioner 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 first day of each month until the said note is fully paid, will pay to the mortgagee the following sums: ((I.) If this mortgage and the said note lecured hereby are insured under the provisions of the National Houaing Act and 80 long as they continue to be 80 insured. one-twelfth Bh> of the annual mortgage insurance premium for the purpose of putting the mortgagee in funds With which to dis- charge the aaid mortgqee's obligation to the Federal Housing Commissioner for mortgage insurance premiums punuant to the applicable provisions of the National Housing Act, as amended, and Regu- lations thereunder; the mortPP9 shall, on the termination of ita f'bligation to pay mortgage insur- ance prenuuma, credit to the account of the mortraaor all payments made under the provisions of this subsection which the mortppe baa not become obqated to pay to the Federal Housing Commis- sioner. - (b) A sum equal to the ground rents, if 8117, next due, plua the premiums that will next become due and PByabl.a on policies of fire and other hasard inaurance covering the mortgaged property, plus taxes and &lIlIe8lIments next d:.:e on the mon.aged property (all as estimated by the mortgagee; less all SUIDJI already paid therefor divided by the number of months to elapse before one month prior to the date when such rround renta, premiums, taxes, and 888~!Dents will become delinquent, such sums to be held by mortgagee in trust to ..1 Mid pound rents, prerrJwna, taxes, and speeial888e.lJll- me~ . (e) All paymenta mentioned in the two preceding subsections of this paragraph and all pay- menta to be I1Iide under the note secured hereby shall be added together and the aggrepte amount thereof ahaU be paid by the mortPCOr each month in a Iiqle payment to be applied by the mort- .... to the followiq itema in the order M't forth: L premium charpe UDder the contract of lnauraJWe with the Federal Houaing Com- miIaioner ; Do pound r.l:Dta, tax.. UI-.~nta. fire, and other hazard lnaurance premiume; m. inteJut OIl the Dote leCured hereby; aDd IV. UDOlilzation. of the priDclpal of said note. Any deficieDcy in the &mount of auch Ad'i cate !D\)nthly ~ent shall, unleaa made pod by the mo~ prior to the due dMe of the next auch P8J!lent, conatitute an event of default under this mort- .....- The ~ may collect . -.ate dwp DOt to aceed two tenta (~) for each dollar ($1) of -.ell JNl.JIMDt more tbaa ftftea (16) day8 ID arrean to cover the extra expeDle involved in hpdliq cWiDqQlDt pa,..ta. So 'lbat it the total of the paymeDt& rriade ~ the~ a.nder (I>) of parqraph 2 precedin:J Ihall aeeecl tbe aIIlOWlt of paymenta actually made the m~ for IJ'OUnd rents, taxee and .,~V"eo.ta aDd iDauraDce pnmiUlDl, .. the cae may be..... ~ alWI be credited by the mortppe on subeequeDt ~ to be made b7 the ~.It. lwwei.-, tile ._~ payment. made by the mortppr .... . . o o ~_____,,,,,__'___" ,_-.--.----.-----------.______.....__________________oP'___._*--_.._.__.~_....___._ ....._______.. _ _."_ _..... .__ __.'~ _