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ib~K 14 PACE 126
Jr_ V.u.us .RIDcBIVBD, the underalped promille(a) to pay to ST. LUCIE COUNTY, FLA.
JlCCAUGIIA.I K01t~GA(JB COJIPAn. mc~.. _.un_a_..
. a corporation orwanbed and exlatlq under
the Ja... at Sta~. of }lior14. _ .01' order, the princlpalaum of thirt.en
!houau4 ~1.... Jlwulr.4 aa4 00/100- - - DoUara t'1',5oo.oo ), with Interest from
date at the ra_ of '1."'8 .t: three fourth per ClDtum ( 5 J/4 ,,) per annum on the unpaid
~1,,," unW paid. '!'tie laId prtilcIp.I U4 1Il__ aha1l be pqabre the oCBce of .
In Co a1 Gable8A_ll~;~OIlAl' .(8~~~~~~~lheholdermaY4eeipatein
writJDj', i: moriW7miWbiliiita or ......IlV-e1ght and :1:100- - Dollan ($ 78.84 ),
COIDID8DCiq on the ftrat da,y of AwNa t . 19 61, on the ftnt day of each month there-
after unW the principal aDd bter.t a!'e fUlly paid, except thAtlhe ftnallN'YlDent of the entire indebtedneu
e9icIeDced hereby, if DOt 800Der paid, ahall be due and payable on the ftnt day of JU7 ,1991 .
If default be made in the paylD8Dt of any inltaIlment under th1a no~c and if auch default is not made
IOOd prior to the due date of the next auch installment, the entire principal aum and accrued interest ahaI1
at oace become due aad payable without notice at the option of the holder of tbJa note. Failure to exerc1ae
thia option ahall not CODatitute a waiver of the lint to exercia.a the same in the event of any subsequent
default. In the event of default In the payment 01 this note, I&I1d if the ame is collected by an attorney
at law, the underaiped hereby qree(a) to.pay all ,*ta of coUect-Jon, lDclu~a reuonable attorney'. fee.
PreeentmeDt, prote8t, and notice are hereby waived.
,_hi th ..SlllA'I..",
__l~.t ll. Bmallllan
And aha11 duly, promptly, and fuJ1y JK;rfonn, diaeh.arp, execute, effect, complete, and comply with and
abide by each and evp.ry the stipulations, agreements. conditions, and covenants of said promi880ry note
and of thia mort~ then tb.ia mortgage and the estate hereby created shall cease and be null and void.
And the mo~r further covenants .. followa:
1. That he wiD pay the indebtedness, .. hereinbefore provided. Privilege ia reserved to pay the
debt in whole, or in an amount equal to one or mol"e monthly paymenta on th" principal that are next due
ou the note, on the firat day of any month prior to maturity: Provided, however, that written notice of an
intention to exerciJe aueh privilege ia given at leut thirty (80) days lIrior to prepayment; and, provided
further, that in the event the debt is paid in full prior to maturity and at that time it ia insured under
the proviaiona of the National Houain~ Act, he will pay to the mortrq'ee an adjusted premium chara'e of
one per centum (1 %) of the oriainal principal amount thenof, except that in no event shall the adj uated
pnmium exceed the annrate amount of premium charges which would have been payable if the mort-
.. h.sd continued to be insured until maturity; such payment to be applied by the mortgagee u;>on its
obliption to the Federal Housing Commiaaioner on account of mortpaoe inaurance.
2. That, in order more fully to proted the security of thia mortgqe, the mortgagor, together with,
and in addition to, the monthly pa)'lllenta tinder the terms of the note secured hereby, on the first day of
md1 month until the said note is fully peid, will pay to the mortppe the followm. aums:
(II) If this mortpae and the said note IeCUred hereby are inaured under the provisions of the
National Housinc Act and eo 1011&' .. they continue to be 80 iuured, one-twelfth (t,}~) of the annual
mortpp lnaurance premivm for the purpose of putti~ the mort~ in funda WIth which to dis-
ehaI1re the said mortppe'. obliption to the Federal Housina' Commlqioner for mort~ insurance
premiwna purauant to the appUeable proviaiona of the National HoualnC Act,.. amended, and Regu_
lationa thereunder; the mortgqee shall, "On the termination of ita obligation to pay mortgage insur-
ance prell11WD8, credit to the ac:count of the mortpaor all pIQ'QIlta mall, under the_ proviaions of thia
sub6ection which the mortppe baa not become oblipt4ld to ~ to the rederal Hol18i.q Commia-
aioner. .
(b) A aum equal to the pound renta.1f any, next due, plua Pte premium a that will next become
due and payable on policiM of ftre and other hasard inauranee eoveri:q the mortgaged property, plua
taxes and 1Ue3smenta next due on the mortppd property (all.. estimated by the mortgagee) less
aD auma already paid therefor divided by the number of months to elapse before one month prior
to the date when auch .-round renta, premiums, tax_, and ....'ments wiD become delinquent, such
'WDa to be held by mortppe in trust to pay said I'I"OUJld renla, premiums, taxes, and special UHU
meDta.
(c) AD ~ta mentioned In the two precedina' aublectiona of this parqraph and all pay_
menta to be made uad.- the note aeCured hereby ahall be added topther and the ~te aDiouut
thenof IhaIl be paid by the IDGrtppr MCh month in a dqIe payment to be applied by the moJt..
..... to the toUowiDa iteml in the order let forth:
L pnmlD!ft daarp8 under the contract of iDaur-..DCe with the Federal Houaiq Com.
l4iNioDer ;
JI. ,1f'OGDd NIltII, ta.u., .......ala, ftre, and other huard lnaurance premiUJDI;
DL interelft aD tile DOte eeeencl hereby; aDd
IV. amortJ....of. ~ priIIetpM fllaaid...., .
'. -., ,-. .
ADy ddclency in the amount..of nch agrepte monthly payment IMlI. Q1\!~ made Iood by the
mortD&?r prior to the due date of the next ~ P9JDent, coutitute .. event of default under thla moJt..
.....- "........ JUt eoDIet a HJate dWp"" Ddt to uceed hro cell. (21) for each dOllarh~~O:
..m ~ men tbaD aa.. (11) __ in unan to CO\W tile .ura apeue IDvOIved in
.wl~t Ja:J1DIDtI. .
Ie That If the total of the P&1IMDta ....~the mortppr UDder (6) of parqraph 2 precedina ahaI1
aceed tbe aIDCIGIlt of paJm8Dta -'111117 JUde .. mortaa.. for p-ound rent., tau. and u--enta
aDd. ~ pnmi.... - the cae IU7 1M. . ae..lhA1fbe-ered.ited by the mo:ipaM on aublequet
,.,...... tIo ... made by the JDGI'tpaw. It, ~er. the 1bOIlth17 paJJDeIlta ~ by the mortpaoI'
,
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