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1ti PAcE511
FoIl V.u.us RECBIYBD, the unde~'~w. ~ ~ to
SOUTHEASTERN MORroAGE' COl.fPANY
. Ie
tLL'K
. a eorporation orpnized and exiatiQ UDder
the la.. of the 8 ta te of Florida . or order, the princ:ipa1sum of Nine
thoue-and five hundred and NO/lOO DoUan <$ 9 500.00 ), with interest from
date at the rate of !'i ve and 3/4 per centum < 5-3/4 ,,) per annum on the unpaid
balance until paid. The lAid principal and lntereet shall ~ payable at the office of
8outheaotorn Mortgage Company, 1340 West Flagler street,
In Miami. Florida ,01' at auch other place as the holder may deeipate in
writiQ, in monthly inatallmenta of Fifty and 64/100 Dollara <$ 50.64 ).
commencing on the ftnt day of Ootober , it 61, and on the ftrst day of each month there-
after until the princi.-I and interest Are fully paid, except that the final payment of the entire indebtedneu
evidenced hereby, if not sooner paid, shall be due and payable on the ftrst day of 8eptember,. 2001.
It default be made in the payment of any installment under this note, and if such default is not made
IfOO(l prior to the due date of the next such installment. the entire principal sum and accrued interest shall
at once become due and payable without notice at the option of r~e holder of this note. Failure to exerciae
this option shall not constitute a waiver of the right to eXf':-cise the same in the event of any subsequent
default. In the event of default in the ~Ilvr.-.~nt oi i.ilio note, and if the same is collected by an attorney
at law, the undersigned hereby agree(s) to pay all coats of collection, inc1udiq.a rasonable attorney's fee.
Presentment, protest, and notice are hereby waived.
($9.50 ~tate Dooumentary Stamps
affixed to or16~nnL note and
cancelled. )
s/ Charles Manning
-- -------- Charles Ha:mlng
(Senl)
s/ Loretta Manning (tieal)
------- Lore-ffaMa-iiiilng _u_________________u____
~
And shall duly, promptly, and fully perfonn, discharge, execute, effect, complete, and comply with and
abide by each and every the stipulations, llgreements, 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 folloW8:
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 exercise 8uch privilege is given at least thirty (30) days pri,:,r 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 ~f) 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 maturity; such payment to be applied by the mortgagee upon its
obligation to the Federal Housing Commissioner on account of mort~age 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 so insured, one-twelfth (%2) 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 pursuant to the applicable provisions of the National Housing Act, as amended, and Regu-
lations thereu:1der; the mortgagee shall, on the tennination of iis obligation to pay mortgage insur-
ance premIUms, credit to the account of the mortgagor all payments made under the provisions of this
suhsection which the mortgagee has not become obligated to pay to the Federal Housing Commis-
~:ioner.
(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 Nl estimated hy the mortgagee) less
all sums already paid therefor divided by the number of munths 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 payments mentioned 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 pa~'Tllent to be applied by the mort-
gagee to the following items in the order set forth:
I. premium charges under the contract of insurance with the Federal Housing Com-
missioner;
II. ground rents, taxes, assessments, fire, and other hazard insurance premiums;
III. interest on the note secured hereby; and
IV. amortization of the principal of said note.
Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the
mortgagor prior to the due date of the next such pa?'ment, constitute an event of default 'mder this mort-
gage. The mortgagee may collect a "late charge' not to exceed two cents (2f) for each dollar ($1) of
each payment more than fifteen (15) days in arrears to cover the extra expense involved in handling
delinquent payments,
3, That if the total of the payments made by the mortgagor under (b) of paragraph 2 preceding shall
exceed the amount of payments actually made by the mortgagee, for ground rents, taxes and as8es.~ments
and insurance premiums, as the case may be, such excess shall be credited by the mortgagee on subsequent
paymenta to be made by the mortgagor. U, however, the monthly payments made by the mortgagor
r
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