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Foss Vruus Racarv®, the undersigned promise(s) to p;,~'t+~ UCIE COUNTY. FLA.
YQO~IIGY#~ l[~'1'a~ Cq[PA~7~ TMC.
a oorparation organism and existing under
~ Lws ~ State o3 lloridt . or order, the principal sum of Nine
Thousand Two Hundred and 00/100- - -Dollar <i 9 200.00 ). ~~ interest from
date at the rate a~ ! e tbrse fourth 1~ cei-hun ( 5 3J4 96) 1~ annum on the unpaid
balance until paid. Ths said prindpai and intet~t shall be payable at the ot8oe of
~cc~oc~r YaeTa~aa oo~~nr, arc.
~ Coral 4 lee, llOrids . ar ~ such otl-er l~ +~ the holder may designate in
writing, in m~tTiTy inatalLmenb of Fifty-three and ? 3/100- - -~1~s (i 5 3 • ? 3 ) •
commencing on the first day of 1[arch ,1962 ,and on the Brat day of each month there-
after until the principal and interest are fully paid, except that the final payment of the entire indebtedneaa
evidenced hereby, if not sooner psid, shall be due and payable on the prat dsy of February , 19 92
Ii default be made in the payment of any installment under this note and ii ouch default is not made
good prior to the due date of the next such installment, the entire principal sum and accrued interest shall
at once become due and payable without notice at the opption of the holder of thin 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 event of default in the payment o this note, and if the same is collected by an attorney
sx law, the undersigned hereby agree (s) to pay all costa of collection, including: a reasonable attorney's fee.
Presentment, protest, and notice are hereby waived.
Arthur lld. Babcock
___.O1~M. Babcock
And shall duly, promptly, and sully perform, 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 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 least thirty (30) 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 mortgagee an adjusted premium charge of
c+ne per centum (196) of the original principal amount thereof, except that in no event shall the adjusted
premium exceed the aggregate amount of premium charges which would have been payable if the mort-
gage had continued to be insured until maturity; gush payment to be applied by the mortgagee upon its
obligation to the Federal Housing Commissioner on sceount o! 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 paymenta.under the terms of the note secured hereby, on the frst day of
each month until the said note is~fully paid, will pay to the mortgagee the following soma:
(a) If this mortgage and the acid note secured hereby are insured under the provisions of the
National Housing Act and eo long as they continue to be so insured, one-twelfth (1;~) 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 Comm~saioner for mortgage insurance
premiums pursuant to the applicable provisions of the National Housing Act, as amended, and kegu-
lations thereunder; the mortgagee shall, on the termination of its obligation to pay mortgage insur-
ance premiums, credit to the account of the mortgagor all eats madg under the provisions of this
subsection which the mortgagee has not become oblligate~ pqY to the Federal Housing Commis-
sioner.
(b) A sum equal to the ground feats, if any, next due, plus the premiums that will next become
nne and payable on pohciea of fire and other hazard insurance covering the mortgaged property, plus
taxes and assessments next. due on the mortgaged property (all se estimated by the mortgagee) less
all sums ah~eady paid therefor divided by the ~tnan r of months to elapse before one month prior
to the date when such ground rents, premiums. taxes. and asseaamenta will become delinquent, ouch
soma to be held by mortgagee in trust to pay said ground rents, premiums, taxes, and special aaaeaa-
ments.
(c) All psy enta mentioned in the two preceding aubsectiona of this paragraph and all pay-
ments to be made under the note secured hereby shall be added together and the ate amount
thereof shall be paid by .the mortgagor each month in a single payment to be ap fed y the more
gages to the following items in the order set forth:
L premium charges under the contract of insurance with the Federal Housing Com-
m~ssioner;
. II. ground rents, taxes. assessments, fire, and other hazard insurance premiums;
mVV. interest on the note sec'an~u~r.~,ed~a'hereby; and
i•. ~ "~ ~l W4 Q~ aa~ 17 ~ t R
Any de8eiency in the amount of ouch aggregate monthly p~ayman~ shall, unless made good by the
mo prior to the due date of the next sash ent, constitute an event of default under this mort~
ga~e~ mortgages may collect a "late dharg~e~~not to eocoeed two seats (?~) for each dollar (;1 of
;,scat ppment more than fifteen (16) days in-arrears to omrer the e~ctra espense involved in handling
delingne~at p+1y~~ .
8. That it the total of the psymeats made bar then~~~, or un~r (b) of paragraph 2 preceding shall
eaceesd the amount of psym~b acbully made b~ t6e !or ~onnd rents, taxes and assessmenb
swd insurances premiums, as the case may be,_aaa~chhh agar shall be credited by the mortgagee on subaegaant
pip-menb to be made by the mortsagoc.. H, IUO~wever, the monthly p~g~b made by the mortgagor