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Home My WebLink About1699 , gb~i ..- ~... ~uMA5 .C8!GAG1 OCIRAn. DCSJ'.lUCf[ COUIITY. 'LA. , a eaQN)t'&tIoIl ....... and Blatiq aDder the Jaw af State of 'lor14& ,01' order. the priJaclpN IUUD of !lrel Te !hou.ancl anel 00/100- - - - - - - - - Dc&D, <, i".ooo. 00), with IntelWt frooa date at the rate at '1 ve '. thre. touth JIl' eeotQm ( 5' 4 ,,) per UDUID oa the unpaid balaDea Wltil paid. .,.,. ..w pri-.dPllud .... ...... be ..,.. -* tbt .. of IICCAUCHIAI JICIltGAGB O<IIPd1' t DO. lD Coral Gable., 'lorl4a . ,000atAChotMr......tbeholdermq~.tein writinc. In 1DOIl~ Ift-t~.......bI., SeTeJ1V eel 08/100- - - - DoUan ($ 70.01 ). ~iQI on the, Ant dq of , Aucua' . II 61.'" oG tIM ant dQ' of MC:h JDOIlth there- after until the JDiDclpal aad intenwt are fIID7 paid. a_lit that the hal paJlMDt of the _tire hldebtedDeu erideneed hereby, If DOt lIOOI1er paid. aha1l be due and panbIe OIl the ftnt _ of lull ' 1191 . If default be made in the payment of any Inata'k1ent UDder thia DO~I ADd if .uch cIefauIt 1a DOt made iood prior to the due date of the neXt aueb iUtaIlme:nt, the entire priac:ipaa awn ud accrued iDter.t ahaJl at ooce become due and payable without notice at the option of the holder of th1a DOte. Failure to exerclae thia oPtion aha11 DOt conatitute a waiver of the riaht to exerdle the AIDe in the event of any .ubMquent defauft. In the event of default in the payment 01 thia DOte. and if the ume ia coUec:ted by all attorney at Jaw, the underaiped hereby ......(.) to pay aU coeu of collection, iDcl~a reuooable attorney'. fee. Preeentment, ~ aDd notice are hueby walftCl. ~ W ~ .___ LJ'l 'I. ... ~ '._._.~.tha M. naU >>t C; Foa V ~ ~ tM uaderalped prom1ae(.) to Pa.J to 15 PACE249 And shall duly, promptly, and funy perfonn, di8c:harge, execute. effect, complete, and comply with and abide b)' each and every the stipulatioD8, ~ents, coJXlitions, and covenants of said promissory note and of this mortgage, then this mortgaa-e and tne estate liereby created aha11 cease and be null and void. And the morta-agor further covenants as 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 notiee of an intention to exercise 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, except that in no event shall the adjusted premium exceed the aggregate amount of premium charges which would have been payable if the mort- rage had continued to be insured until maturit)'; 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 payinents 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 8wns: (4) If this mortgage and the said note secured hereby are inaured under the provisions of the National Housing Act and 80 long as they continue to be 80 insured, one-twelfth Bh) of the annual mortgage insurance premium for the purpose of putting the mortgagee in funds WIth which to dia- charge the said mortgagee's obligation to the Federal Housing Commissioner for mortgaie insurance premiums pursuant to the applicable provjsions of the National Housing Act, as amended, and Regu- lations thereunder; the mortgagee shall, on the termination of ita obligation to pay mortgage innr- nnce premIUms, credit to the account of the mortBBKOr all payments made under the provisions of this subsection which the mortgagee baa not become oblipted to pay to the Federal Housing Commis- sioner. (b) A sum equal 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 &A estimated by the mortgagee) less all sums already paid therefor divided by the nomber of months to elapse before one month prior to the date when such ground rents, premiums, ta.~es, and assessments will become delinquent, such sums to be held by mortgagee in trust to pay a:Jd ground rents, premiums, taxes, and special assess- ments. . (c) All payments mention<<:d in the two preceding subsections of this paragraph and all pay- ments to be made under the note secured hereby shall be added together and the aggregate amount thereof shall be paid by the mortgagor each month in a single payment to be applied by the mort- gape to the following items in the order set forth: L' premium charges under the contract of insurance with the Federal Housing Com- miaaioner; . n. lTOuod rents. taxes, aaseasments, fire, and other hazard insurance premiuma; m. interest on the note secured hereby; and IV. amortization of the prmelpal of aald note. ~ Any deficiency in the amount of such aggregate monthly payment shall, unlesa made good. by the mortpaor prior to the due date of the next .u~h pa~ent, constitute an event of default under thiS mort- gage.- The mortgagee may collect a "late ~' not to exceed two cents (~) for each dollar ($1). of, each payment more than fifteen (15) days In arrears to cover the extra expenae lDvolved In handhng delinquent payments. S. That if the total of the payments made by the mortpror under (b) of paragraph 2 preceding shall exceed the amount of payments actually made by the tnortgagee, for ground rents, taxes and UBe88JDents and inauranee premiums, as the ease may beiil!ueh excess .hall be cr~ited by the mortgagee on subsequent paymentl tc> be made by the mortgqor. , howeftr, the monthly paymenta made, by the mortgagor