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1''(J& V iLLUE .Ra"Ef\-'1m, th'6 u\1deralltn~~ tl~m-m~ '
1l00AU'GIld .~ Ca.PAJ'1', !NO,.
,-a oorporatiol1 orraniud and exlsting under
tbe1a..t4 State of Jlorlda ,oronier, thtt prineipal au.Dl of ""elTe
!h.01IJIu4 e4. 00/100- - - - - - - - - i}ol1ara <$12JOOO.OO }, w!t..\ interedt from
dat.eatthentRotr1Tlt a: 'thr.. t01..'.rth I*' centum ( , '/4 %) per IinUWU on the unpaid
bAt.Me> WlW paid.. The aald priDdpa1 w. intereli ahan be payabie at the office of
IICOAUGBAB MORTG.A.Cm CCIlPJ.lY. IRe. '
in Ceral Gables, !'lor1da ," at aueh other ~ u the holder may designste in
wrl~, in monthly inataDm.tI of anent)"... ce/loo- - -... DoUan ($ 70.08 ),
eon".menciq ou the ftnt da)- of 00 to 'b.r , 19 61 , u.d on the ftnt day af each month there-
after until tbtl priDd.-1 and interest arefuUy paid, except that tM final payment of the entire indebtedness
nideneed hereby, if not JIOOUer paid, ahall be due and payable on the dn-t day of Sep..,..be:r ,19 91.
If default be made in th4ll payment of any inltanment under this note, and it tuch default is not made
rood p.r.or to the dutt date of the 1\~t luclt inaWl1nent. the entire prineipalaum and .<<rued interest shAll
at opee become due &Dd. payable without no-tiee d the option 01 the holder of this note. Failure to exerei8e
thia option ahall not Cl>Wltit.ute a waiver of the ri.trht to uerclae the lame in the event of any subsequent
def&ult. In the evant of default in the payment ot Uti.. note, and if the ~ nme is eoHeeted by an attorney
at law, the undersigned hereby q-ree(s) to pay aU OOIta of oolleetioD, includins.a re&l1-01lable attorney's fee.
Preeentment, protelJt, ad DOtiee are hereby waived.
.JAYaar4 J,.., .Ultlttr ,
_,_fl\1lh.',." it. .L... D.ble.z...._.__,____'___
And shall dulY, promptly, and fully perlonn, disehArgoe. execute, effect, complet.e, and comply with snd
abide by each and every the stipulatioll5, ~menta. conditions, and covenants of said promissory note
rmd of thi!l !llortpa'e, then this mort-gare and the estate hereby Cl"e&ted shall cea.se cmd be null and void.
And the mortrqor further covenants a.s follows:
1. That he will pay the indebtedness, &8 hereinl>efoJ'fe provided. Privilege is regerved to pay the
debt in whole, or in an amount !!Qual to oce 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 such privilege is given at leut thirt~., (80) days prior to prepayment; and. provided
further, that in tM event the debt is paid in full prior to maturity and at that time it is insured under
the proviaiona of the National HotlII.ina Act, he will pay to themorta"ape an adjusted premi.um charge of
OD9 per centum (1 %) af the original principal amount th~roof, except that in no event shall the adjtat.ed
premium exceed the an-regate amount of p"mJum charges which would have been payable if the mort.
pa-e had continued to be inaured until maturity j auch payment to be applied by the mortgagee upon its
obligation to the Federal Housing CommiMioner on account O'f mor......... 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 terms af the note secured hereby, on the first day af
each month until the &aid 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 Hou&i.nl' Act and so long 88 they continue to be 80 insured, one-twelfth (%:t) of the annual
mortgage insurance pJ"('>.xniwn for the purpose of putting the mortga.gee in funds witn which to disc
char~e the said mortgagee's obligation to t~e Federal Houai!ll' Comm~ioner fo. mortgage insurance
pnmuurna ,unuant to the applicable provisions of the Natlonal Houaml' Acl, as amended, and Regu-
lAtions thereunder; the mortpg-ee zhall; on the termination of 118 obli&i1tion to pay mortgage insur.
&."1ce premIum!!, credit to the account of the m()Ttgqw all payment4 made under the pro'lision'J of this
subaection which the mortgagee baa not becOtnft obUgat.ed to ~ to the Feder&l Housing Commia..
tioner.
(b) A.um equai to the .-round rente, if any. nut due. plus the premiu..'ns t.hat will next ~ome
Que and ?&y.a.ble on policies of tire ltt.d other. hazard inaUl'lUJOO eoverin. the mortgaged property, plu3
wee and &IIIk:88lnenta next due on the mortgared property (all as estimated by the mortg'agee) leas
an awna already paid theretoi 4tvided by Ute "amber of months to elapse bdorG one mo~th prior
to the date when sueh fTOUnd rent&-, premiums. WeI, and uaeume~ts will become deliilquent, such
aUIWl to be held by mortgagee in t.ru.st to pAy aid ground rents. premiums, taxes, and special il.S5eM-
menta.
(c) AU f,oaymentf mentioned in t,,~e two preceding subsections ~)f this pa.ragraph and all paYA
:mcnt& to be macM undn the uo'oo ~uNd bereby shill be added together L'id the &KI'fei'a.te ameunt
the.'""8Of shall be paid by the :o."Ortpgor eaeh month in a lingle payment to be ~ppiied by the mOlt..
zape to the tollo-win.. itant in the order set forlh: .
1. premium ~ under the contract of ineuranoe with the Fooen! Houaing ConI,-
mWrio~; -
l'!, tlf'OOud rata.. t&x.~, ~.)l'f\ta" 1lr-e, lUlrl ot..noaI" h.azard intH!ra;.'1(:~, p:rmnnWl$;
IU. m~ tm \M now I<M:UrOO ber-aby; and
IV. amort!~ of _ prin~ etaaid v0t'4. .'.
.. "',' I ...., ..': , ' - '" ~ 'f- .
Any ~ej' in ~e s.mlJunt of lmeh aare:p't€. monthly ~yment thall, unlea. made3 go<~. by tll~
m()~ pt'iOI'to the ~ue. date of thlil next sueh~eut. oon~lUlte ~ event of defau!t under tins m~ft..
PI&~ 'l'h~ ~ tlMt;f MJi<<.t .& S'Jate ~ not to exi:eed two eemt8 {24} f41' oaeh dolial' ($1) of
.eh ~1MN~~ (HS) .""m ~ to cover tM atnlex:penae in~"Olved i1), handling
~t PQ..Jlttta. .
a,. ~ if.. -. .. ~ Gtthe payment3~. ::1.. themo~ undtJ.T. (b) of r>arazr'aph 2. pre<. ~e-ding 8h.all
~ tbe ~t of p&:f)!OOnW ~ made ... fMttwqee. fer sround l-entE, tA;xflti and M3eMmenta
ad ~. premiumt. ... thIS ~ .may ~ fteMl5 t!Wl be eNdite.d by !he mo~ on 6UbiJequsnt
M-~ .. M ~ bY th~ mor~. If. M~!". ~ monthly ~ta rnadf: by the mortg~
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