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Jo'oa VALUE RECEIVED, the undersigned promiae (.) to pay to
.oOAUQIWI .CIltGAGB OQIIPUY,
go~i _ 20 PACE634
I10.ST, LUCIE COUNTY. fU,
, . corp.->ration orrabtzed and existing under
the1awa of State of Jlor1da ,or order, the pnncipals.Jm of Eigh t
Thousand '1 ve Hundred and 00/100- - - Dollars ($ e t 500.00 ). with interest from
date at the rateofJ1ve . one-fourth per centum ( 5t ,,) per annum on the unpaid
balance until paid. '!be aald prineipal and intereat shall be payable at the otnce of
lIoCAVGHU KCIlNAGB CCllPAIT. DO.
m Coral CJabl... Jlor14a ,or at IUeh otherplaee... the holder may deaipate in
writinl', in monthly inatallmenta of Porty-s8ven and 01/100- - -DolIan ($ 47.01 ),
commencina on the tlrat day of December ,1961 ,and on the fint day of each month there-
after until the principal and interest are fully paid, except Uiat the final p&3'1Uent of the entire indebtednesa
evidenced hereby, if not IOOner paid, allall be due and lM'Yable on the fint day of November ,1991,
It default be made in the payment of any installment under this note, and if such default is not made
~ prior to the due date of the next such installment, the entire principalllum and accrued interest shall ,-
at once become due and payable without notice at the option of the holder of this note. Failure to exercise
this option shall not constitute s waiver of the l"~ht to exercise the 'same in the event of any sUOsequent
d~fault, In the event of default in the payment of this note, and if the lame il collected by an attorney
at law, the undersigned hereby ~(s) to pay all coata of collection, inclu~a reasonable attorney's fee.
Preeentment, protest, and notice are hereby waived.
Charles E. Millspau~h
"'-Co-sign~r
__..E.d,vard i'I. 1a11llspauiP-
.__~.!~,e A. MillBpa~h
"
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And shall duly, promptly, and fully perfonn, discharge, execute, effect, complete, and comply with and
abide by each and every the stipulations, agreements, 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 follows:
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 paymenta on the principal that are next duc
on the note. on the fint day of any month prior to DUlturity: Provided, however, that written notice of an
intention to e:xerciae such privilege is given at leaat thirty (80) days prior 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 mortg~ an adjusted premium charge of
one per centum (1 %) of the original principal amount thereof, except that in DO event shall the adjusted
premium exceed the aggregate amount of premium chargea which would have been payable if the mort-
pge had continued to be insured until maturity; such payment to be applied by the mortgagee upon its
obligation to the Federal Housing Commiasioner on account of mortgage 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
8ach month until the said note is fully paid, will pay to the mortgagee the following sums:
(a) If thia mortgage and the said note secured hereby are insured under the provisions of the
National Houaing Act and 80 long as they continue to be 80 insured, one-twelfth n};{) 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 mortrap insurance
premiums :>unuant to the applicable proviaiolUl of the Natioual Housina Act... amended, and Regu-
lations thereunder; the mo~ shall, OD the termination of ita obligation to pay mortgage insur-
ance prerwums, credit to the account of the mortgagor all payments made under the provisions of this
subsection which the mortpgee baa not become dblitated to pay to the Federal Housing Commis-
Eioner, .
(b) A sum equal to the ground renta, if any, next due, plua the premiums that will next become
Que and payable on policies of fire and other hazard insurance covering the mortgaged property, plus
taxes and aaseasmenta next'. on the mortgaged property (all as estimated by the mortgagee) leas
all sums already paid therefor divided by the number of months to elapse before one month prior
to the date when such ground rents, premiums, taxes, and asaesaments will become delinquent, 8uch
BUms to be held by mongaa'ee in trust to pay said ground rents, premiums, tax~, and special8.88e88-
menta.
(e) All paymenta mentioned in the two preceding 8ubsections of this paragraph and all pay-
menta to be made under the note sec~red hereby 8hall be added together and the anrepte amount
thereof Ihall be paid by the mort;gqor each month in a ainale payment to be applied by 'the mort-
.... to the foDowin&' itema in the order set forth:
L premium charpa under the contract of inaurance with the Federal Houaiq Com-
miaaioner ;
II. arouad rent., tuell. UlMIm'l!nta, fire, and other huard insurance premiuma;
m, interest on the note secured hereby; and
IV. amortkatioD.of tire priaactp8J~"""" , ..
Any deftciency in the amount of luch aaregate monthly payment shall. unleu made good by the
IIlOl"ta'qor prior to the due date of the next luch p9J11ent, constitute an event of default under this mort-
.....- Th. mortcaaee may collect a "late cbarae" not to exceed two centa (~) for each dollar ($1) of
.-ch pll,)'JDent more thaft fifteen (15) d&18 in arreara tc cover the extra expense iDvolved in handlina'
delinquent p&7IDeDta. '
a, That if the total of the payments made~the mortpgol- under (b) of parqraph 2 preceding aha1l
exceed the amount of paymenta actually made the mortc..... for ll'Ound rents, taxes and aaseasmenta
and inauruce premiuma, .. the caae may be, exceIB abal1 be credited by the mortpgee on lubeequeDl
~ta to be made by the IDOI"tppr. If, however, the monthl7 payIiMDta made by the mort;ppr
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