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Faa V AWK RscmVlD, the \dldenlped promi8e(I) to,., to
. ~UGBO KCIltGAa CCllPdY, DO. ST. ~.yc.~_ CO~NTY, HA.
. . ~ ...... .... exJatiaa ......
State of 1101"14&_ .ororder.tbellriDdpUaamof '!en '
!houaand Oile Bund1"e) and 00/100- - - -DoUara (, 10,100.00), with in..- from
date at tM ..... ofJ 1 'Ye " thr.. f~th I*' 'CIIltum ( 5 '/4 ,,) per aDDUJD 011 the unpaid
~1.1ft UDW paid. ",.. UIcl )Il'IDcl,.J ad Ill.... shall be PWable at the c6e of
KCCAUOBd K2!GAGI OCIIP.dY. DC.
In Coral Gables. J'lorl4a . or at ---- ou..r P,Iace.. the bolder IBa.J deUpate ill
writlDi.1D moDthl7 ~11 01- Jl1:tt7-e1ght and 98/100- - DoUan (, 58.98 ).
COIIUDeDCm. OIl the 1\nt., of Augua t. . II 61 . ad OIl the ftrat da7 of .-ell ~th th.....
after util the priDcipU ud intere.t an faII7 ptUd. except that the ftDaI paJ'llMDt of the _tire indebtedDeu
nideneed hereby. if DOt DOODeI' ~aha1J be due and p&7abIe OIl the ftnt da7 of Ju1l. 1991 .
If default be made in the payment of allY iutaDmeDt UBd.. thia DOte, aDd If aoch defaUlt II DOt made
iood prior to the due date of the next.auch iuta1lment, the _tire prind... awn and MCrUed iIltere8t ahaI1
at. once become due and ~ without DOUce at the optioD of the ~ of thJa DOte. FaBan to exereiae
thll option Iha1l DOt COIUItitute a waiver of the ~t 'to aerc:JM the ume In the event of any subeequent
default. In the event of default in the payment 01 thia not.e, and if the aame II collected by an attorney
at law, the underaiped hereby qree(a) to pay aU co.bI of coUect.ioD, ~ a rear-;aN. attorney's fee.
PreMntmeDt, protest, ADd DOtiee are bereb,. waived.
O. R~
8~:1
14 PAGE681
.__Edwar~ ~lldred
___~a llldred
And shall duly, promptly, and fully perfonn. dilJeharge, execute, effect, complete, and comply with and
abide by each and every the stipulations, agreements, conditions, and covenants of said promiasory note
and of this mortgage, then this mortg"ge and the estate hereby created shall cease and be null and void.
And the mort~r further covenants 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 any month prior to maturity: Provided, however, that written notice of an
intention to exerciae such privilege is.given at least thirty (SO) 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, exc.ept that in no event shall the adjusted
premium exceed the ~gate amount of premium charges which would have been payable if the mort-
rage had continued to be insured until maturity; such payment to be applied by the mortgagee upon its
obligation to the Federal Housing Commissioner on account of mortgqe insurance. .
2. That, in order more fully to protect the security of this mortgage, the mortgagof, together with,
and in addition to, the monthly payments under the terms of the note secured hereby, on the first day of
each month until the said note is fullX 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 as they continue to be 80 insured, one-twelfth n}:{) 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 mo:-tpge insurance
p~ums pursuant to the applicable provisions of the National Housing Act, as amended, and Regu-
lations thereundt>r; the mortgagee shall, on the tenninaticn ot ita obligation to pay mortgage insur-
ance p~nuums, credit to the account of the mortgaaor all payments made unser the provisions of this
subsection which the mortgape baa not beeoPle obJia'ated to pay to the Federal Housing CoDuna-
aioner.
(b) A aum equlll to the ground rents, 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 (all as estimated by the mortgagee) less
all sums already paid therefor divided by the nwnheT of months to elapee before one month prior
to the date when such ground rents, premiuma, taxes, and assesaments will become delinquent, such
sums to be held by mortgagee in trust to pay said ground rents, premiuma, taxes, and special asaesa-
ments.
(c) All payments mentioned in the two preceding subaections of this paragraph and all pay-
ments to be made under the note secured hereby shall be added together and the aggregate amount
thereof ahall be paid by the mortgagor each month in a single payment to be applied by the mort-
gagee to the fol,lowing items in the order set forth:
I. premium charges under the contract of iuurance with the Fede",1 Housing C0m-
missioner;
u. ground rents, taxes, aaseaaments, fire. and other hazard insurance premiuma;
m. interest on the Bote eecured hereby; and
IV. amortization of'the principal of said note.
Any deficiency in the amount of !luch aggregate monthly payment shall, unless made good by the
mortgagor prior to the due date of the next such pa~ent, constitute an event of default under this mort-
gage.- The mortgagee may eollect a "late charge' not to exceed two cents (~; for each dollar ($1) of
each p&yme1t more than fifteen (15) days in arrears to cover the extra expense involved in handl~
delinquent paymenta.
3. That if the total of the payments made b~the mortaaPr under (b) of paragraph 2 preceding ahal1
exceed the amount of payments actually made the niorlgqee, for grou~d rents, taxes and asseasments
and insurance premiuma, as the case may be, su exceaa shall be credited by the mortgagee on subsequent
payments to be made by the mortgqor. If, howwer. the monthly payments made by the mortgagor