The URL can be used to link to this page

Home My WebLink About1694 r. ' :.1\. !:l,'.' , 15 rAGE244 to'OIl VALUE RECEIVED, th~ underai~ed prom1ae(a) to pay to . , MOCAVGU. IIC1tTGAGE COIIPA.IY. Dol. [(fetE COUNTY. rlA. , a eorporation organized and existing under the la...af State' .01 florida ,<-r order, the principalaum of Twelve fhousand and 00/100- - - - - - - - - -I>ollara ($ 12,000.00), with in~rest fro?, date at the rate of l' i ve & three f our'th per centum ( 5 314 %) per annum on the unpald balance until paid. The aUd principal aDd intereet shall be payable at the office of IICCAUGBAI II<JlTGAGB C<llPABY, IRe. . in Co~al G,e.l>les, 1'10rida .01' at aueh other Place as the holder may deai~te 10 writiq~ In monthly inaQDmeuta Of SeTenty and 08/100- - - - -Dollara ($ 70.08 ), commaneiDa on th. lint day of .A.ugus t , 19 61, and on lbe tint day of each month there- after until the principal and intet'e8t are fully paid, e'Xcept that the ftnal payment of the entire indebtedness evidenced hereby, if not 800Der paid, shall be due and payable on the ftnt day of July , 19 91 . U default be made in the payment of any inatallment under this note, and if such default is not made IOQd prior to the due date of the next such installment. the entire principal aum and accrued intereat ahall at once become due and payable without notice at the option of th" holder of this note. Failure to exercise thia option aha1l not constitute a waiver of .the riPt 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 underaipeCl hereby qree(s) t-} pay all COIIia of cOllection, inclu~a reasonable attor:Q.ey's fee. Prelentment. protest. and notice are hereby waived. David S. Takaa ..J~y:l via Takaa And shall duly, promptly, and fullB' perfonn, discharge, execute, effect, complete, and comply with and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note ana of this mortgage, then this mortgage and the estate hereb)" created shall cease and be null. and void. And the mortgaaor further covenants 88 follows: 1. That he will pay the indebtedness, aa hereinbefore provided. Privilege is reserved to pay the debt in whole, or in an amount equal to one or more monthly payment.\ 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 ti-ne it is insured under the provisions of the National Housing Act, he will pay to the mortgagee an adjnted 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 continued to be insured until maturit)"; 8uch payment to be applied by the mortgagee upon its obliption to the Federal Houaing 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 mortpgee the following sums: (4) If this mortgage and the said note aecured hereby are insured under the provisions of the National Housing Act and 80 long 88 they continue to be 80 insured, one-twelfth (~:{) 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 Houaing Commissioner for mortgare insurance prelLiuma pursuant to the applicable provisions of the National Housing Act, as amended, and Regu- lations thereunder; the mortgagee shall, '00. the tennination of its obligation to pay mortgage insur- anee prenuumfl, credit to the acccHlQt of themortgal'Or all payments made under the provisions of this subsection which the mortl'&pe baa DOt become oblipted to pq to the Federal Housing Com.mia- moner. (b) A sum equal to the ground rents, if any, !leu due, plus the premf.ums that will next become due and payable on policies of fire and other huard insurance covering the mortgaged property, plus taxes and aaaessmenta next due on the mortpged property (all as estimated by the mortgagee) less all soma already paid therefor" divided by the number of months to elapse before one month prior to the date when such l'I'Ound renta, premiums, taxes, and a.ssuamenta will become delinquent, such aoma to be held by mortgqee in trust to pay &aid ground renta, premiUlllg, taxes, and specialaasesa- menta. (c) All payments mention~ in the two preceding sub8ections of this paragraph and all pay_ menta to be made under the note secured hereby shall be added together and the anrepte amount thereof aha1l be paid by the mortppr eaeh month in a ain&'Ie payment to be applied by the mo...t- ..... to the followiq item. in the order set forth: L prenium ~ under the eontraet of J.uurance with the Federal Houaina Com- mfuioDer : D. poand ftIIta, tax.. uan'PMnts, Are, and other hazard insurance premiuma: m. interest OIl the DOte eeeund hereby; aDd IV. . amortbador.r,ot the ,p~ ~uid ~ ," .. - : - , ' Any defic:iency in the amount ot IUch aa&J:qJlte monthly ~ent shan, unleu made good by the mort~ pnor to the, due date of the next such pa~ent. conmtute an event of default under this mort- =- 'n1e IDOI'tpaee m&l coDeet a "late charIe' not to exeeed two centa (~) for each dollAr ($1) of .._u_~mtnt. ..... tba ftfteen (16) dQa in amtan to cover the extra expenM involved in handliDa' ~_t :;JeJ1DeDta. a. 'l'blUflho loloI oflho __ ~~ UDder (b) of ___ph 2 preeedina' ohaII ~~_~t ~t paymen. t. actuall. y made the mortnae, for pound renta, taxea and aaaeun.enta ad ~~ama, .. the eue may . -.xe.a abaJfbe'cred1t.ed by the mortppe on subeequeDt ~ to - made b)" the 1DOI'tcaIW., , the monthlT payment. mad6 by the mortcaaor I . - -1 ,-, ~ .~'." . . . . - 4. ~-oL.....A_.. ..__...-....._,