HomeMy WebLinkAbout2413- ~„~._ _-~--pp~- _ __--- ---
_ __ _ _ BOOK 2H PACE20~
Fo1R Vuvs RecBtv®. the undersigned promise(s) to p'U't°~T, LUCIE COUNTY. FIA,
YcCAIIOHAU xfXtTtia()E C O1LPaHY, I1~C . '
a corporation organised and existing under
the Lws ed State Of ~lorlda . or order, the principal sum of Nine
Dollars (i 9 t 650.00 ), with interest fronn
Thousand S1~[ Hundred Bitty and 00/100 ~,~ on the unpaid
date at the rate at !'iVe ~ one-fourth lam' ceatnm ( 5 '~') P~
balance until paid. The said prlndpsl and interest shall bs payable the otlloe of
xocavc xoeTasaa Cox~at~r, iao .
in Coral sables, 1'lorida • or at sucl- other Ply as the It°ld°r'~aaY des~t° ~
writing, in monthly inatalhnenb od yifty-three and 36/100- - Dollars (= 53.36 )•
commencing on the prat day of xarch . ,19 62. and oa the drat day of each month there-
after until the principal and interest are fully Paid, except that the Anal payment of the entire indebttedness
evidenced hereby, if not sooner paid, shall be due and payable oa the ftrst day o! aebruary 9
It default be made in the payment of any installment under this note and if such default is not made
good prior to the due date of the next such inataUmenk the entire principal sum sad accrued mtereat shall
at once become due and payable without notice at the opption of the holder of this note. Failure to exercise
this option shall not constitute a waiver of the right to ezer+cise the same in the event of any subsequent
default. In the event of default in the payment o this note. and if the acme is collected by an attorney
st law, the undersigned hereby agree (a) to Pat all costs of collection, including. a reasonable attorney's lee.
presentment, protest, and notice are hereby waived.
~~anklin a. Pierce
And shall duly, promptly, and fully perfo ~, ~h neditiona, an' d covenants of 'sa a Promlisso~'~note
abide by each and every the stipulations, agree
and of this mortgage, then this mortgage and the estate hereby created shall cea~ae 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 Pat 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 ftrst day of any month prior to maturity : Provided, hoc e~ pre apay~ente and tpro dad
intention to exercise such privilege is given at least thirty (i30) data p
further, that in the event the debt is paid in full Prior to maturity and at that time it is maured under
the provisions of the National Housing Act, he will pay to the mortgagee an ~~~~ premium charge of
one per centu~n (196) of the original principal amount thereof, except that m no event shall the adjusted
premium exceed the aggregate amount of premium charges wt:ich would have been payable if the no
gage had continued to be insured until maturity: ouch payn-ent to be applied by the mortgagee po
obligation to the Federal Housing Commiaaioner on account of mortgage insurance, together with
2. That, in order more fully to protect the security of this mortgage, the mortgagor,
sad in addition to, the monthly pa enta•under the terms of the note secured hereby, on the ftrst day of
each month until the said note is fully Paid. will pay to the mortgagee the following sums:
(a) If thin mortgage and the said note secured hereby are insured under the provisions of the
National Housing Act and eo long as they co ofa u~~ ~e m rt .one-t f ntd (N'itYli which tondia-
mortgage insurance Premium for the purpose p gaffes
charge the said wortg~gee's obligation to the Federal Housing Comm~saioner for mortgage insurance
premiums ~nrauant to the applicable •provisiona of the National Houai~-g Ack as amei'ded. and Regn-
tations thereunder; the mortgagee shall, on the termination of its obligation to pat mortgage insur-
ance premiums, credit to the account of the mortgagor allpaymenta made under the provisions of this
subsection which the mortgagee has not become obligated to Pat ~ the Federal Housing Commis-
sioner.
(b) A sum equal to the ground rents, if any, next due, plus the premiums that will next become
sue and payable on policies of ftre and other hazard insurance covering the mortgaged property. Plus
taxes and assessments next due on the mortgaged property (sU as estimated by the mortgagee) leas
all sums already paid therefor divided by the num~cer, oafna oa, ae~asme its will b~efooome delinquent, such
to the date when such ground rents, premiums.
soma to be held by mortgagee m trust to pay said ground rents, premiums, fazes, and special asaesa-
ments.
(a) All payments mentioned in the two preceding aubsectiona of this paragargagp~hgaand all pay-
ments to be made under the note seLured hereby shall be added ~thent to be appL'ed by the~mor~t
thereof shall be Paid by the mortgagor each month in a single paym
gages to the following items in the order set forth: .
z premium charges under the contract of insurance with the Federal Housing Cam-
missioner;
~ quad ~~, }~~. assessments, tire, and other hazard insurance premiums;
II[. interest on the note secured hereby: and
iv. amortisatllon of the prindiPUl oiaaid note,. ' - .
Any detkiency in the amount of wch aggregate monthly ant shall. unless made good by the
mortgagor prior to the dne date of the next such ~ ~ exceed t~vo ee<-ts (2f) o=uleach aollathr cif ~ o
The mortgagee msY collect a "Lte clhar involved in
p~ynnent mon than tlftaea (16) days in an'eara to ooNer the extra expense
delinquent ~ Hader (b) of paragraph 2 Preceding shall
E. That if the total of the paymenb made the for rents, tares and aaseaemeab
eacosed the amount of payment ~ ]Y m~ excess san~~~ the mortgagee on aubsegnent
sad inwranoe premiums, as ~'.~ however, .the monthly dents made by the mortgagor
pats th be made by the mortp~or •
f •