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Home My WebLink About0619 ~c~~ 1.8 i'AG( 514 i-\m V ALtiE H,;:d:l\'UI, till' uLI!ergigned prumis,:' (s) (Ii PRY tu S T , '('( C 'I'L1T V "l 1 INC.I. l..L I ,_.jn, ,\ ~ 11.- McCAUGH)...' M<llTGAGE COM:PABY, , a eorp.:lrati<lfI organi:u.",j Imd existmg under the laws of State of llor1da ,or ,mier, thi' princip.el ~um of Eleven Thousand E1g!lt Hundred ~d 00/100- - DoHaN. ($ J.1~800.00), with intHest from <idte at the rato,! oIP i ve & f.'.ne-f ou.rth per centum ( 5t IJ\'-) per annum on the unpaid. baiance until paid. The said principal and interest flhaH be payable at the office of KcCAUGHAI MORTGAGE COMPANY, INC. in Coral Gables p Florida ,C'r at such other place iUl the holder may de8ign~t€ in writing', in monthly in~t.a.nments of Sixty-!1 VEt and 25/100- - - Dollars ($ 65. 25 ), comm~ncing on the first day of October ,1961 ,and on the nrst dhY of each month the~ aft~r until the principal and intereat are fully paid, except that the final payment of the entire indebtedness evidenced hereby, if not 800ner paid, shall be due and payable on the first day of September ,1991. If default be made in the payment of any installment under this note, and if such default is not made trood prior to th~ due date of the next such installment, the entire principal sum and accrue'~ interest shall at once be\:ome due and p&)'able without notice at 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 even. ~: uefault in the payment of this note, and if the same is collecterl by an attorney at ~w, the undersigned hereby agree(s) to pay all costs of collection, including,a r~a.sonable attorney's fee. Presentment, protest, and notice are hereby waived. :Edwa.r~J..f- _liQQ1lie..o1l._-- DO:t"~.SH ~.~.,.~9J')i,!l.l3g)~:_.- ,.., ... - - - - - ~ ~- - -. - -- -.. -- - -- --. - -.. - .-.. -- --- - --+, ------ ..- -_. ---. .-- .-..-- -- -- ..-- - -- And shall duly, promptly, and fully perfonn, discharge, execute, effect, complete, and comply with and abide by each and every the stipulations, agreements, conditions, hnd covenants of said promissory note and of this mortgage, then thi8 mortgage and the estate hereby created shall cease and be null and void, And the mortgagor further covenants as follows: 1. That he will pay the indt'btedne;;.s, 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 prier 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 full prior tn 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 (l ~'c) of the original principal amount thereof, except that in nc event shall the adjusted premium exceed the aggregate amount of premium chargeg which would have been payable if the mort- gage had continued to be insured until maturity; Buch payment to be applied by the mortgagee upon its obligation to the Federal Homling Commissioner on account of mortgage insurance. 2, That, in order more fully to protect the eecurity of this mortgage, the mortgagor, together with, and in addition to, the monthly payments under the teIT:1S of the note secured hereby, on the f11st day of each month until the said note is fully paid, will pay to the mortgagee the followins;c sums: (a) If thi~ mortgage and the said note securerl hereby afe insured under the pn)\"isions of the National Housing Act and so long as they continue to be so insured, one-twelfth (II') of the annual mortgage insurance premium for the purpose of putting the mortgagee in funds wifh which to dis- charge the said mortgagee's obligation to the Federal Housing Commissioner for mortgage insurance premiums :>ursuant to the appEcable provisions af the National Housing Act, as amended, and Regu- lations thereunder; the mortgagee shall, on the termination of its obligation to pay mortgaR'e insur- ance premiums, credit to the accounT of the tUOl'tgagor all payments made undH the pro\'isiOliS of this s~lbsection which the mortgagee has not b€come obligated to pa;)' to the Federal Housing Commis- E!<JnCl'\ (b) A sum equal to the grollnd rent-'l, if any, next due, plus the premiums that will next become Que and payable on policies of fire and other hazard insurance covering the m()rtg"~ed IH'o.>pert y, plus taxes and assessme,:ts next ~due f.'11, tile mor~gaged property (all as estimated by the mortgagee) lesf! all sums already p~ud therelOr diVided by t,ne numbe- of mvnths 1.0 elapse befO!'p one month prior VJ the date when such ground r>::n tf, , prernlums, taxes, and assessments will b:'conw delinquent, such sums to tl€ held by mortgagee in trust to pay Baid ground rents, premiums, taxes, and special assess- ments. (c) An payments mentioned in the two preceding subsections of this paragnlph and a1i pay- ments to b<z made u!,!.der the r:0t{~ so'cured hereby Shi,_n, he added together and the aggregate amount thereof shall t~ paid b>', the D.'ortgag-or, each mUl1tn 1n r, singh:: payment to be appii2d by the mort.. gagE'e to the follOWing items In the oraer set forth: ~. prem,ium ehargE'3 under the contract d insurance with the Federal Housing Com- rnlS,iHon~'r ; !i, gn,HJnd rent'\, t.;,;\U),,;'J~,d',E',;rkr':~I fi't', r:.d GlLi.'! h,,<,~ cd irl:)\lJ;',nce pti'!i1illfll~:; xu. i nt~:refJt on the notE 8ecu.r~.;d h(\r~:J)y; and IV. i.\n\orti1.1-~~tlcn of the pri nCtp~l of i;aid t"'iote~ (j.d\':iency in the ~\rnount of st)f:h a.gp'egr.te nH;nthly ptLyni',d ,,]-,a\1. ur.)ec<!', mil'!>: guod bv the rf"lr1:l[alIni nrio; I/: the due (;ah: \If the next su::.h pavrni'nt cr'PiS1ii'D',' ;,"1 "\'CTl ,J 11{,f'11Jh un'!"'- thi" f"f)"t.. .,'..' . .'11.".,;'" .,.~ '. , ~,." ..... 'fl" ,.. ,to ,Ii ....f. ~'. ...'. - ',':' ~.., ., .:., " . ., .', . ".' ~. "". j:;f'{;e, ! he mo:;:'tiAAf'€ m<;,~ ,.U!leC~ ~<he "Harge n'll LU excew.: two cents (~",) for U\('1l now,;' \~1) 01 <,,-I.v:h PI;y'H:ent .\'JH}re than nfteen \ J;,) dti.y:S ill arrf'&Cl} to COVi,r the !:'xtrr., '~)(p'2nSe invol';ed itl hat)(d:ng &e1inquent p~ym~ntJl. . . 3: Tru..t ..~.~ t~'~; t(};~d Gf:,:d~:, EJ~,yn;(:n;;;,nHVi;~ t;; the m~H.tg<igO]' ll!'l;:!ef (.'1) o~ j'iI.r~l~~n;.ph :2 pn''ic('d i ng d,:dl ",:~,;,-~.;x1 ttJ(, .tU.wunt .)0 pay .r,,:,, ~ Hc,vaH^~ rn<il-de Of tiif~ mortiagf.~'C, I Of j.;"i(HH'lil fer, t$, 1..axes anil &.>'I",+:~'1mf;n t.':l lUld n.!l\.a"~n('e, prelnJUn~s, a,Ii the CaJH' trUlY ~,lSu(;h eXCf?fl.'3 f!haH be erl2'<1ittd by the ITiongagc<.: (,fj Ill,b')k~1:,1€!nt ~~YW,<iiltll W t>e m,iv1" ny rlwn',N"tggg<:!r, If, h0w~:ver, r.h~ mo\',th)y !H..ym~t.~ made by the mi1rtg",g,jr 4{,i t:.-,;..i r:: . ;"~ ~~-*' .f .~.