The URL can be used to link to this page

Home My WebLink About0871 PACE Foa V.w. RacBlVI:D. the underalped pro.(.) to pAT to ST. lUCtE COUNTY. FLA. IIOCAUGIAI MCIl!GAia C<llPArl, DO. _ - , a corporatloD orpDlsed aDd es1atiq UDder the 1&... at Bta'te of ~lorl4a . or order. the priDcipU SUID of Ble..n Thou.and :light Hundr.d and 00/100- - - DoUan (, 11.., ,,800.00), with In~rMt from date at the rate af~l.,.. . three fourth per ...tum ( 5 '".. ,,) IN!' aIlDum on the unpaid balNlee until pald;- The laid )II'IDCi.... ad IntllrMt abAD be ~ at the c6e 01. 1I00AU(JIId .CIltGAGI OCIIPAIT, DC. in Coral Gable., Jlorlda- .CII'.tlUChother~uth.ho1derm&7deefaDatelD writiDa'. in mbDthl7lD1taJlrn-ta at Sixty-eight and 91/100- - -DoDans (, 68.91 ). eomDleDCiq OD the ftnt dq of Auguat ,18 61 . aDd OIl the Int day of eaeb month tllea9- after until-the priDeipU aDd intereat an faD7 pdd. except that the ftDal ~eDt of the _tire iDdebtedn.. evideneed herebh..if DOt aooner paid, ahall be-due and payable on the ftnt day of .Ju11. ,1991. If default be madeiD the paym_t of 8DY inahl1lN1ftt UDder. th.ia note. and if aueh default ill not made aood prior to the due date of the next .uch inatallmeDt. the entire principal .UID ODd ac:rued iDterat ahall at once become due aod pay~le without DOtice'at ~ option of the bolder of thia note. Failure t~ exerclae this option ahaIl DOt conatitute a waiver of the riaht to exerciM the UIJ18lnthe event of any aubMquent default. In the event of default in the payment 01 tbia DOte, and if the aame ia collected by an attome). at law, the undeniped bereby agree (a) to pay all eceta of collection, inc1udlne.a reuonable attomeTI fee. ~ Presentment. prot.t, aDd notiee an hereby wAived. . ~' .... --- ._,~ne1 Q'Steen, Jr. Bettye S. OISteen --- - And shall duly, promptly, and fully perfonn, discharg@, execute, effect, complete, and comply with and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of thi8 mortgage, then this mortgage and the estate hereby created ahall cease and be null and void. And the mortgagor further covenants &8 follows: 1. That he will pay the indebtedneu, &8 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 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 proviaiona 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 nc e"ent ahaI1 the adjusted premium exceed the aggregate amount of premium charges whicb would have been payable if the mort- rage had continued to be insured until maturit)'; sr;cl1 payment to be applied by the mortgagee upon its obligstion 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 tenna 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 secun:d hereby are ilUJured under the provisions of the National Housing Act and ao long as they continue to be 80 insured, one-twelfth (~h) of the annual mortgage insurance premium for ~he purpose of putting the mortgal(t!e in funds With which to dis- charge the said mortgagee's obligation to the Federal Housing CoIDJ!'Jssioner for mortpge insurance premiUID8 pursuant to the applicable proviaiolUJ of the National Housing Act, u amended, and Regu- lations thereunder; the mortgagee shall, on the tennination of its obligation to pay mortgage insur- ance premIUms, credit to the account of the mortgagor all payments made under the provisions of this subsection which the morti&pe baa not become obli.,.ted to pay to the Federal Housing Commi&- sioner, (b) A sum equal to the ~und rent&, if any, next due. plus the premiums that will next become due and payable on policies of fire and other hazard insurance covering the mortgaged property , plus taxes and assessments next due on the mortgaged property (alias estimated by the mortgagee) less all 8ums already paid therefor divided by the number of months to elapse before one month prior to the date when such ground rents, premiUlD8, taxes, and assesaments 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 mentioned in the two preceding subsections of this paragraph and all pay- menta to be made under the note secured hereby shall be added together and the aggregate amount thereof shall be paid by the mortgalOr each month in a single payment to be applied by the mort- gagee ~the following items In the order set forth: L premium charges under the contract of insurance with the Federal Housing Com- millioner; . :I. ground rents, taxes, aaaeuments, fire, and other hazard insurance premiuma; m. interest on the note secured hereby; and IV. amortization of" the principal of aald note. Any deAciency in the amount of Buch aggregate monthly payment shall, unless made good by the morllragor prior to the due date of the'next such pa~ent, constitute an event of default under thi8 mort- gage: 'l'he mortgqee may collect a "late charge' not to exceed two cents (~) for each dollar <'1) of each payment more than fifteen (US) days in arreara to cover the extra expense involved in handling delinquent payments. 8. That it the total of the payment. made by themortr~1' under (b) of paragraph 2 preceding shall exceed the amount of payments actually made by the mortgagee, for ~und rents, taxes and useA8lDents and insurance premi\1.lWl, .. the ease may be, auch exeeaa shall be cre<hted by the mortgagee on subaequet payments to be made by the mortg880r. U, bowever, the monthly payments made by the mortgagor