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Home My WebLink About0614 " "'l ..,-., FOli V.<\1. U~; l{~xn '\if:!), the undtl"sigw,'d pro!TII~t. (5) t.o pay to OR,' 8G'J~ 18 P~CE 609 ~T. LUCiE C8UHTl. flA. MOC.wOHJ\J MORTQ4GE COIl:PAJiY., .u~C". , , a corporation oJT!:,nised and existinl' lL"ldcr thelaw80f State of Florida ,ororder, the principal sum of !'welTe Thousand and 00/100_ - - - - - - _ _ -DollArs ($ 12, OOO~ 00 ), witt. imerest from date at the ~~te ?fFive a: thre~ fOurth per cent:nn ( 5 3/4 %) per annum on the unpaid balance untll paId. The S&id prillcip&.l and intereat shall be IJ&yable at the office of ~ MCCAUGHAN MORTGAGE COMPANY, INC. in Coral Gables, Florida ,or nt such other place as the holder may detUj1late in writing. in monthly installmenta of Seventy and 08/100- _ _ _ _ Dollanl ($ 70.08 ), commencing on the first day of November, 1961 , and 011 the first day of each month there. after until the principal and intel'~5t are fully paid, except that the final payment of the entire indebtedness evidenced hereby, if not sooner paid, shall be due and payable on the first day of Octobtllr ,19 91. If default be made in the payment of any installment under this no~, 3nd if such default is not m.e.de good prior to the due date of the next such installment. the entire principal sum and &C(:rued interest shall at once become due and p,:'lyable withGut notice &t the option of the holder of this note. Failure to exercise this option shall not constitute a waiver of the right to exercise the same in the event of any subsequent default. In the e,vent of default in the payment of this note, and if the same is collected by an attorney at law, the underSigned hereby agree (s) to pay all costs of collection, including, a reasonable attome)"s fee. Presentment, protest, and notice are hereby waived. ,~~_<?]:'_~_~__Q ~_~_~~i8____ __ ,;J /' 4J~-~\. ~ ~' ,t.x",:,~ ___-:t.,../., ~-1~E2 227/-<'-:" ~ /-./ '0. _ _______ _ ______..________. ________ _ ______ ..- ....-. --.... ---.------ ._--. --.----."-~~-------_.. -~. -__ ..._.~A_____~______ And shall duly. promptly, and fully perfonn, discharge, execut-:>, etfE'Ct, complete, and comply with and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note s.nd of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void, And the mortgagor further covenants as foHows: 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to pay th€ debt in whole, or in an amount equal to one or more monthly payments on the pI"incipa! that are next due on the note, on the first riay 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 fill! prior to maturity and at that time it is insured under the provisions of the National HOI.;sing Act, he will pay to the mortgaR'ee an adjusted premium charge of one per centum (1 f.c) of the originai principal amount thereof, except that in no event shall the adj uste-d premium exceed the aggregate amount of premium charges which wouid have been payable if the mort- gage had continued to be insured until maturity; 8uch 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 fuIly to protect the s€'cllrity of this mortgage, the mortgagor, together with, and in sddition to, the monthiy payments under the terms of the note secured hereby, em the 1iTSt day of each month until the said note is fully paid, will pay to the mortgagee the foIlowing sums: (a) If this mortgage and the Raid note secured hereby are ins'.lred under the provisions of the Natiuna! Housing Act and so long as they continue to be so insured, one-twelfth (ll~) of the annual mortgage insurance premium for the purp'Jse of putting the mortgagee in funds with which to dis- charlie the said mortgagee's ohligatiml to the Federal Housing Commissioner for mortgage insurance premiullls pursuant to the applicable provisions of the National Housing Act, as amended, and Regu- latiuns tllPreunder; the mortgagee shall, on the termmation of its obligation to pay mortgage insur_ allce pren1!ums, credit to the account of the mortgagor all payments made under tl:e provisions of this ,;ubsl'ction which the mortgagee has not become obligated to pay to the Fedt'ral ll()lbing Commis- t'lI.ner. (0) A sum equal to the ground rents. if any, next due, plus the premiums that will next become Que and j'uyable on polil'ies of fin> and other hazard insurance covering the T!1(,l'tgag-ed pruI>!.'rty. plus taxes and assessments next due on the mortgaged property (ail as e",timated hy the lT1orj~gagee) less all sums already paid therefor divided liy th€ number of monlhs to elapse before Olle month prior to the drlte when slJch ground rt'nts, pn'miums. hxes, and assessnwnts will Iwcurne delinquent, such sums to be held by mortgagee in trust to pa:'" said grlJund rents, pJ"l'miums, tHxes, and special assess- ments. (c) All pa~'ments mention"d in th" t\';o preceding st;bsectiolls of this paragraph and all pay- ment~ to he made ur~df'r the note se<:l1red herehy sila!! he added tugether and the ag-grcg~"te amount the!'eof shall be paid by tilt: !l1urtgRgor each nllnth in C\ single- payment to iJ(' applied by the rnort- gagee to the following itemg in the or-tit'!" set forth; 1. premium charges under the contract of Insurance with the Fed,_'ral Housing Coni- missioner; lI. gr\Juiid !'u-,ts, UL<t:" ;'i,:'.:,:~,:nu\ts. fire, ;,nd rJlb,,!' ),~';.:ald in:,uriillU' !'!'UliiU]id; Hi. int.'r,'st on the not" secured hereby; and lV, ;:morlil.i:,(i'Jll of the principal of :;f:id notE, Any clefkiUH"; in the anll/unt of !Such asc;.;n'g'at,? p!'nlthly P":;iilt'nt ::;h;di, un\;-"" m:\',jp g,;nd by the li1D::v,h:~or prior 1(:) the due date of t~l" "t'xt :;J(:11 pHynll'nt, cOllStll utI' an l.'\'('nt c.f (1ernu]t \;IHIPr this iriurt- ga~(', TLe mortgagee li1a~: cu!led ;:. "bte charge" nnt to ";.:(cul t\<'o c...nV, ('2\,) f(!j- tad, dol,ia\ l. ~I) of Gitch paymer,t mote than 11!tUf! (j,)) d'IYH in hrrr,H'$ tl) CO\"-.:r the txtra .'XjJ{:!'S'_' lTl\'oIH:'d III n;\li'"illng deiinque;:t payment". :3. That if the (c,t:.;I (If t!,(, p'\,\mI"L\:; !Ii''''-]'' Ly till' iTwrlg;1uj' linth:I' (el) of jJ8(i.i.g'nqil! :~ pi""Jdinf( ;;h,di e:\,_,":o UiP ~trnljl!nt I)f I-';,',Hi(,l,ls ;1CtU,lllv made by the rni)rt~t~if;'c:'(:, for g-l'<JJnd n:!IL:;, t,;x\,.s ilr,d it3"':".;rril/I[,'s "led in:;ur."ilce pn,i,liurns: as triP (';be m,;y Iif'. ,,[Jeh CXI,'.'::;';~ "h;dl Of: u.,diLC.j by th,-, m"ng,l.y,o:.:t' ull ;';ULS''<i'l.:nt p"ymenUl to be lnade by the fllurlgrigur. If, iuw('vi:!", the .nCJnthly II',yrnu;!c; fr:",lc L:-' tiH; rn;:,rtg,-..h\)r , )' ":,,1;<'- ".~_ ,. ~..~~' ~" ';