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Home My WebLink About0556 . . ,.,; , .' ..." ; '. '; . . -. - . ~ :" .'. ,,':' .' '. ..... . ..'. ,~ ,'.. ' .' . ...'.'.- - -. . .' - ~ -~_... '. ....... . - ..' :. . O. It, 800K 13 PAGE 556 Foa ~ALUa RBcBIVJ:D, the underalped promiAe(s) to pqto ST. lllCI[ COUNTY. fl A ~CC.A.UGILUJ KORNAGJ COIIPAiY, mo. ' , a corporation oryanbed and existil" under thetawaof Stat. of 'lorida ,ororder,theprincipahumof ~lft..n 1houaud ~0lU" Hundr.d and 00/100- - - Dollana f' 15,400.00), with intereat from date at the rate of'1.,.. & thr.. t ourth per centum ( 5 '/4 ~) per annum on the unpaid balance until paid. The aald principal and Intere.t shall bfa _~able at the office of IfCCAtfGII.U JlCIl1'GAGI CtllPAIT, IIC. m Coral Gables, 'lor14a ,or at such other place u the holder may deaip:lte In wriun..1n JnODth17lnatallmenta of B1ght7-J11n. and ~4/100- - - Dollara (, 89.94 ), commeneina on the ftnt day of j,U&\l8t , 196I , and on the first day of each month there- after until the principal and interest are tuUy paid. exr'!pt that the final payment of the entire indebtedneaa evidenced hereby. if not IOOner paid, shall be c:tue and payable on the ftrat day of Ju17 i ,It 91 .. If default be made in the payment of any installment under this note, and if such default j}j not made Jood prior to the due date of the next such installment, the entire principal sum and accrued interest ~ha1l at o~ become due and payable without notice at the option of the holder of this note, Failure to exercise thia option shall not constitute a waiver of the ri~t to exercise the lUUJle in the event of any subsequent default, In the event of default in the payment 0... this note, and if the same is collected by an attorney at law, the undersigned hereby agree(s) to pay.n eoets of collection, clu~a reaaonable attorney's fee, Presentment, proteat, and notice &1'8 hueby waived. And shall duly, promptiy, and fully perform, discharge, execute, effect, complete, and comply with and abide by each and every the stipulatioll1l, agreements. conditions, and covenants of said promissory note and of this mortgage, then this mortgage and the estate !l.ereby created shall cease and be null and void, And the mort&'&lOr further covenants 88 follows: 1, That he will pay the indebtedneaa, 88 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 tint day of any month prior to mJ\turity: Provided, however, that written notice of an intention to exercise such privilege is given at least thirty (80) 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 to 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 premium exceeci the aggregate amount of premium charges which would have been payable if the mort- pge had continued to be insured until maturit)": such payment to be applied by the mortgagee upon ita obligation to the Jo~ederal Housing Commissioner on account of mortgage insurance. 2. '!'hat, in order more fully to protect the security of this mortgage, the mortgagor, together with, and in addition to, the monthly payments under the terma 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: (4) If this mortgage and the said note secured hereby are insured under the provisions of the National Housing Act and 80 long aa they continue to be 80 insured, one-twelfth nl~) of the annual mort..... insurance premium for the purpose of putting the mortgagee in funds with which to dis- charge the &aid mortgacee's obligation to the Federal Housing C<Jmmiaaioner for morti'a,e insurance premiums PUl'lluant to the applicable provisions of the National Housing Act, as amended, and Regu- lations thereunder; the illortgagee shaU, on the termination of its obligation to pay mortgage insur_ ance prenuuma. credit to the account of the mortgagor all payments made under the provisions of this subsection which the mortpgee baa not become obligat.d to pay to the }i'ederal Housing Commis- .ioner. (b) A sum equal to the l'I'Ound rents, if any, nen due. plu the premiums that will next become due and peyable on policies of fire and other hazard insurance covering the mortgaged property. plus taxes and 8Il8e8llmenta next due on the mortl'aged property (all &I estimated by the mortgap;ee) less all SUMS already paid therefor divided by the number of months to elapse l>-"ore one month prior to the date when such l1'Ound renta, premiUDl8, taxea~ and lL8Ile8IlJDents will ..A!Come delinquent, such .uma to be held by mortgqee in trust to pay said I"round nmta, premiums, taxes, and special888e88- menta. (c) All payments mentioned in the two preceding subsections of this paragraph and all pay- menta to be mac:Ifl under the note I<<UI'ed hereby shall be added to~ther and the argregate amount thereof shaD be paid by the mortgqor each month in a single payment to be applied by the mort- ..... to the foliowin&' item. in the order let forth: L prclium charpa under the contract of inaul"anee with the Federal Housing Com- miIsioner; . Do 8I'OUDd nota, tax.. ~enta, fire. and other hazard inaurance premiurna; m. iDw.t on the DOte MCUred hereby; and rY. amortbation at the priuclpal of aaid ngle. A:rrr c.:Ieftcieney in the ..mount of aueh aareplemonthly P.a1ment ahall, unleu made good by the mo~ pr',,"~r to the due date of the nut ~ P9JDent, COD8titute an event of deta'Jlt under this mort- r..~ The mona.1lM ID&l' collMt . "late ~ not to a~ two cent. (2t) tor each dollar ('1) of Mdl ~ more tbD ftfteeIl (11) cIa.p in arrean to eover the extra apenae involved in handline ~t ~'1DIIItI. o. That it aw tobl of the payment. ~~the mortcaaor UDder (b) of parqraph 2 prec:ed!q Iha11 tIXCMd the amount of paJmeIlta aetual17 JUde the IUO~ for Il'OUnd rents, tax. and ulC!I.menta aDd IDAraDce pnmiuma, .. the cue mq be.. ex,*, IhUfbecredited by the m6rtppe on subeequent ~ w I:e JUde b7 the 1IIOI'tppr. If, how..., tM IDOIlthlJ ~ta made by the morlf;alor o f) 1 - -.jJ-'- _..- ..--------,.-- -- ,--...._-,--