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}O'O& VALUE REcIUVED, the underaianed promiae(a) to pay to ~: ~r. 15 i>,~~::' 24
1I0CAUGIIAI M(It'!G.A.QB COMP.lIT. mc.
-".T. LUClr (GU~TY. rt A.
- , a corporation organized and ex1a .tq UDaer
thelawaof State of Plorida ,ororder, the principal sum of Nine
Thousand One Hundred and 00/100- - - Dollara ($ 9,100.00 ), with interest from
date at the rate of rive ct three fourth per centum ( 5 3i'4~) per annum on the unpaid
balance until paid. The uid principal and fntereat ahall be payable at the office of
IICCAUGBAI Jl<JlTGAGB C<lilPAIlY, IIC.
in Coral Gables, P10rida ,01' at auch other place as the holder may designate in
writinl', in monthly installmenta of Pifty-three and 14/10Q- - -!><\lla1'8 ($ 53.14 ),
commenciDJ' on the first day of September, 19 61, and on the first day of each month there-
after until the principal and interest ue funy paid, except that the final payment of the entire ind~btedness
evidenced hereby. if not IOOner paid, shall be due and payable on the first day of Augus t ,1991.
If default be made in the payment of any installment under this note, :md if such default is not made
good prior to the due date of the next such installment, the entire principalaum and accrued interest shall
at once becOnle due and payable without notice at the option of the holder of this note. Failure to exercise
this option shall not constitute a waiver of the riailt to exercise the same in the event of any subsequent
default. In the event of default.in the payment 01 this note, and if the same is collected by an attorney
at law, the undersigned hereby agree(s) to pay aU costa of collection, inclu~a reasonable attorney's fee.
Presentment, protest, and notice are hereby waived.
~
..W.il bur W. Sine
Grace C. Sine
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And shall duly, promptly, and fUlly perfonn, discharge, execute, effect, complete, and comply with and
abide by ~h and every the stipulations, agreements, conditions, and covenants of said promissory note
and of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void.
And the mortgagor 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 pric,r to maturity: Provided, however, that written notice of an
intention to exercise such privilege i8 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 woulJ have been payable if the mort-
gage 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 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:
(a.) If this mortgage and the said note secured hereby are insured under the provisions of the
National Housing Act and so long as they continue to be 80 insured, one-twelfth nl:{) 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
premiums ,ursuant to the applicable provisions of the National Housing Act, as amended, and Regu-
lations thereunder; the mortgagee shalt, OIl the tennination of its obligation to pay mortgage insur-
ance prenuums, credit to the account of the mortgagor all payments made under the provisions of this
subsection which the INrtgagee has not become obligated to pay to the Federal Housing Commis-
Eioner. . .
(b) A SUID equal to the ground rents, if any, next due, plus the premiums that will next become
Que 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 number of months to elapse before one month prior
to the date when such ground rents, premiums, taxes, and assessments 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 pa)'lllents mentioned in the two preceding aubsections of this paragraph and all pay-
ments to be made under the note seCured hereby shall be added together and the aggregate amount
thereof ahaU be paid by the mortgqor each month in a aina'le payment to be applied by the mort-
ppe to the following itema in the order set forth:
L prem~~ charges under the contract of insurance with the Federal Housing Com-
mlUloner;
u. ground rents. taxee, aaaftlSments. fire. and other hazard insurance premiUDUI;
m. interest on the note Iecured hereby; and
IV. amortiZAtion of the principal of Mid note.
Any deftc:iency in the amount of luch aaregate monthly ~ent shall, unless made good by the
mol"t4raaror pnor to the d~e date of the next such pa~ent. COnstltute an event iJf default under this mort-
pp.- The mortpaee may collect a "late ch.arp' 'not to exceed two cent. (2ti for each dollar ($1) of
.cl1 p&7D1eDt more than fttteen (16) liaya in arreara to cover the extra expense involved in handtin&'
delinquent payments.
8. That if the total of the paymenta made~the mortaaaor under (b) of PMav&ph 2 preceding ahall
exceed the amount ~f payments actually made the mortppe, for ground renta, taxes and asaeuments
and lDaurance prenuUlDa, .. the case may be, II exceu .hall be credited by the mortgagee on subsequent
pqmenta to be made by the mortppr. If. howwer, the monthly paymenta made by the morlttqor
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