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O. R,
BOCK
13 PAGE604
)'08 VALUE RECEIVED, the undersigned promlae(s) t~ pay to )T. 1I1CI[ COUNTY, fl A.
SOUTHEASTERN MORTGAGE CO~~ANY
, a corporation organized and existing under
the laws of the 8ta te ot Florida . or order, the principal sum of Nine thousand
five hundred and No/lOJ _ Dollars ($ 9 500.00 ), with interest from
date at the rate of Five '" three-quartersper centum ( 5-314 %) per annum on the unpaid
balance until paid. Toe aald principal and interest shall be payable at the office of
Southeastern Mortgage Company, 1340 Weet Flagler Street,
in Miami, Florida . or at such other place aa the holder may designate in
writinl', in monthly inata1lmenta of Fifty and 64/100 DoUara ($ So .64 ),
commendnl' on the fint day of August , 19 61, and on the fint day of each month there-
after until the principal and interest are fully paid, except that the final payment of the entire indebtedness
evidenced hereby, if not sooner paid, shall be due and payable on the first day of July ,. 2001.
If default ~ madto in the payment of any installment under this note, and if such default is not made
g'ood 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 note. }<"'ailure to exercise
this option shall not constitute a waiver of the rifht to exercise the same in the event of any subsequent
default. III 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 all coata of collection, including. a reaaonable attorney's fee,
Presentment, protest, and notice are hereby waived.
($9.50 State Documentary
Btampe affixed to original
note a~d cancelled.)
.. ____~LlUchard Bass
Richard Baas
(Seal)
'__U_f?Lh_B-~P.r_J~_~__fl~_s
:luby Lee Baas
__h_,__u__m_lf?_~b;IJ
And shall duly, promptly, and fully perfonn, discharge, execute, effect, complete, and comply with and
abide by each and every the stipulatioll8, agreements. conditions. and covenants of said promissory note
zmd of this mortgage, then this mortgage and the estate hereby created sh&ll cease and be null omd void.
And the mortgagor further covenanta 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 ~my month prior to maturity: Provided, however, that written notice of an
intention to exercise such privilege ia 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 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 exceed the aggregate amount of premium charges which would have been payable if the mort-
gage had contill1f'"ed 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 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:
(4) If this mortgage and the said 'lote secured hereby are insured under the provisions of the
National Housing Act and 80 long as they continue to be 80 insured, one-twelfth (II:':') 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
premiuma pursuact to the applicable prcvisioll8 of the National Housing Act, M amended, and Regu-
latio:ls thereunder; the mortgagee shall, on the tennination of its obligation to pay mortgage insur-
nnce premIUms, credit to the account of the mortgagor all payments made under the provisions of this
subsection which the mortgagee haa not become obligated to pay to the Federal Housing Commis-
.-=----:-~ Eioner.
(b) A sum equal to the ground rents, if any, next due, plus the premiums that will next become
due and payable on policie8 of fire and other hazard insurance coverinJt the mortgaged i>roperty, plus
taxes and assessments next due on the mortgaged property (an aa estimated by the mortgagee) less
all sums already paid therefor divided by the number of months to elapse before one month prior
to the date when such ground rents, premiums, taXe8, and assessments will become delinquent, such
sums to be held by mortl'al'ee in trust to pay said ground renta, premiums, taxeR, and special assess-
ments,
(c) All paymenta mentioned in the two preceding sub8ections of this paragraph and all pa,-
menta to be made under the note secured hereby shall be added together and the aggregate amount
thereof shall be paid by the mortgagor each month in a single payment to be applied by the mort-
gqea to the following items in the order set forth:
"1'. prem,hll~ charge. under the contract of insurance with the Federal Housing Com-
mUY10ner;
u. ground rents, wee, aueaamenta~ fire, and other hazard inaurance premiums;
m~ interest on the note recured hereby; and
IV.- amortization of the principal of said note.
Any deficiency in the amount of such ~aregate monthly payment shaH, unless made good by the
mortaaaor prior to the due date of the next such pa~ent, constltute an event of default under this mort-
pae,- The mortgape may collect a "late c~' not to exceed two centa (~) for each dollar ('1) of
each payment more than ftfteen (16) daya in arrears to cover the extra! expense involved in handlin~
delinquent payment..
I. 'nlat if the total of the payment. made by the mortgagor under (b) of ..~aaraph 2 preceding shall
exceed the amount ot paymenta &ctually made b)" the morta'aaee, for ~und renUi, taxes and aaaewnenta
and inaurance premiuma, sa the cue may be.lUch exceu .hall be ere(hted by the mort~gee on subsequent
p&J1Denta to be made by the mortpaor. If, however, the monthly payments made ~y the mortgaaor
o
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