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18 ntl515
1"0& V AiA;.l~;;m. t:ft's ~~1 JtN~i Ii) t.o ~ tu
JfCCA.UOHd JlCatG4a otm'A.n I tIo.
. a COI'pora,tioa ~ and exiatmg Imder
the 1&... at State of 'lor1d. . or 9l'\ie:r, t.h6 principahwu of fen
Thou-MIld 11!'t;r &>>.4 0011.00- - - - - DoUAn ('-10.050000 ), with intereat. from
date..t the rata 01'1.-. a t)D~rou:r\b per catom ( 5't ~) per annum 00 the unpcjd
balanc.., until paid. The I&id principal aD4 in___ shaJl be..P!T~ at Uu" o.f!i<< o!
JloCAUQB.U JKIl!GACD COIIPAn. !Be..
in Corol hble. t 'lori4a .01' at auch other place as the holder may de&iiW'tfo in
writing, in moothly inatallment3 of 11ft)'....:!1 ve and 58/100- - - Dollara ($ 55.. 58 ).
oomm.encing on the fin:t My of October ,1961 ,and on the fU"8t W\y of each month there-
af~r until m0 principal &nG ir.terett are fully paid. oxcept that the ftnal pajment of the entire indebtWneu
evidencoo hereby, if not IOOner paid, shan be due and payable on the f\"'t day of September ,1991.
If default be mad<l in the payment of any in.tallment under thiti note, and if such default is not made
good prior to th€ due date of the next such installment, the tmtire principal Bum ano accrued intereat shall
at once become due end payable without notice at the option of the holder of this note. Failure to exercise
this option shall not constitute 8. wai<;'~r of the right to exercise the same in the event of any subsequent.
default. In the eyent of default in the payment of this note, and if the same ill collected by an attorney
at law, the undersigned hereby agree(s) to pay all roats of eolleetion, including, a reuonable attornay's tee.
PNsentment, protest, and no~ &rEi hereby walved.
';f. Lurn: CQt'WH, FU
Jilliq.._L..aa~r18._ _. _.
0& the..r illfL-L..__liarria. __"0
And shall duly, promptly, and fully }>erfonn, discharge, exe..:ute, effect. complete, and comply wit.h and
abide by each and every the stipulations, Rgr~ment8. condit.iol;S, 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 mdebtedness, as hereinbdore provided. Privilege is re~erved to pay the
debt in whole, or in an &mount eQual to one or more monthly payments on the principal that are r.ext due
on the note, on the first day of any month prior to maturity: Provided, hDwever, that written notice of an
intention to exercise such privilege is given at leaat thirty (30) days prior to pr~payment; and, provided
further, that in the ewnt 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 r't-) of the original principal amount thereof, except that in no event shall the adjusted
premium exceed the aggTegate amount of premium charges which would haY(' heen payable if thE' mort-
gage had C'ontinued to be insured until maturity; such payment to be applied by the mortgagEe upon its
obiigation tc the Federal Housing Commissioner on account of mortgage insurance.
2. 'That, in ortier more fully to protect the security of this mortgage, thi? mortgagor, together with,
a.nd in addition to, the monlhly payments under the ~enns of the note 8ecured hereby, on the first day of
e.ach month until the said note is fully paid, will pay to the mortgagcc tile following sums:
(a) If this mortgage and the said note secured hereby arc insured under the pro\'iilions of the
National Housinl( Act and 80 lonK as they continue to be so insured, one-twelfth (11~) of the annual
rnortl<al(c in3urane(' premium for the purpose of putting the mortgagee in funds with which to dig-
charr.;e the 3Hid mortgagee's obligation to the Federal Housing Commi8~:oner for mortgage insurance
premiums :->ursu..nt to the applicable provisions vf the National Housing Act, as amended, and Regu-
lations thereunder: the mortgagee shall, on the termination of its ohligation to pay nwrt"a~e IlIsur-
:tnee pn:tnllln1S, cn'dit to the account of the mortgagor a.ll payments made under the provisi(;ns of this
suhsediun which the mortgag':e has not become obligated to pa>' to the Federal Housing Commis-
~'li.lner.
(b) A sum equal to the ground rt'nts, if any, next due, plus the premiums \.hat will next b{'come
oue :,ud payable un pulicies of flre and otht:'r hazard insurance cevering the murtg:tgt:d prop"rty, plus
taxes and asses"nlcnts next du.e on the mortgaged property (all ail estimated by the !llOrtgag-ee) IC6s
all sum:" already paid therefor divided by the number of munths to elapse before 011(' month pri,lr
to the date when such j.(Tound rents, pn'miurns. taxes, and asst.'ssments will beCO!11l' dpl!nqut>nt, such
&lIms to b~ held by mortgagee in trust to pay said ground rents. premiums, taxes, and special i.ts:wss-
rnents.
(c) All paY-inUits Tllentioned in ~he two pn'('('ding subsections of thi5 paragraph ana all pay-
ments to be m..de under the note st'('l.lrf:d hi'reby s}]:dl b<:> added tdgether ,wd the aggn'gate amount
thereof ilhall bi' paid by the n,ortgagor each !llr)!lth in a i:\jn~le payment to be afjplied by the mort-
~rage~ to the follov;ing items in the order set forth:
1. premium charges LInder the cot~trad of insura1ice 'sith the F(.(J.:.ral Housing Com-
rn i.'-;8 iOiwr ;
11. }~T'our,tl renl&, t..f~.,](cB, h3S~'~~~,gn:ent.s, nri:,:, and ()t.Lpr ItH'1..ard in:..iurallt:e prt_~rniUrnG;
IIi. )!it''''l-i,,::,t (ili tl(~:; )t(l::(: i.;' U(~.~,!,l Itc-rl'.;l'J:,,"': ~::L(.d
IV. :u-rF}rtiz;,~!..ion of the prirH::::ph! of g~dd nute_
i\.ny d(~nf~'it~H'Y in the nn-.lc:urd, of such ;;ij{Kt'egHtf~ Jjj{,nthly r\~},y'n!ent [:..haiL ur'di",'-1S nl~~liti g-Ci"Id h:..' the
11"l{;rtg';~~~or prier In the di.H> \;'lat/.. of thi~ iii'!Y.t ~tH.'h I}HynH'nt~ ('{~nst:tute hn t.'\"(:nt of d0'{HUlt urid~'r t.hi;,; tlh}rt..
gt;.g'(I, 'file TnoTt~;ag'ee rnEY' Cf.li1~'ct ct H1g~u.~ (hk.'~'~~" not to e'xeer'd t\-\'o ('t,nt.~ (,:;:-((~) for ea.ch dt)!j~n. ($1) ()f
(:nch payrnent lilOt'c. than Hf1.,J-~{:n (l~J) {lay.:s in a.rre~'\rs t.o C{)\'('t tiH.:' ext:i'",~ (IXpf'nS~] ip.\'ol....'ed in h~utdi.dig
dt:::li:nquf'?'1t p~yrn~:nt.&.
2. rr~)Ht if tb(; total !".f the ~',Hlyr:;prtU~ Enadt'~ by tn€ rncrtgazt~.r un.dr:r ({,) of P&,~'figraph ~? irqr s.h::dl
;~~'~r~';~lr;~!;~:i~:<;.:~I;:~'i'::'IJ:~~Y;~!:;l"{};t,'~' ..':~~\:' ;~;:;~. fG:~,d:'J:~j?~ ;~~'i::~~J ~-i-~lt~~:~' f'll' ti::i i')';.1 :;~:'I ;;~;) ;~~:~:~~: ;~'i~i;:t~'~;il;I~:~t;\~::~\~~
p8.)'"rnfHt-a tiJ !:.K~ r!lhd(~ by the IHurt~;'i~for. if, hi)\"~cv(:r, the rnontJdy pfi)'JlH:nts rfihde by the r(j()rtg,;:igor