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HomeMy WebLinkAbout2501~o~K 28 X370 Fort Vwz.us ~raa, the uadersi~e fl.~rB . ~ ~°ip A~QIiP~ ~ • . ~f A1laRI0A11 - , a corporation organized and existing under -. the laws of - it'lorida . or order, the principal sum of T1-ettt~-three thouaaad seven hundred eAd lio/100 ~~ (i Z3.?~•N ).with interest from date at the rate of ll'i~e said One-lOt1r~ Pm' oentum ( ~~ 96) ~' annum on the unpaid balance until paid. The said principal and interest shall be Payable st the office of •teriosw ?itle Ineura~fo• Ooh in 1[l.sai ~ Tlorida , or at such other place as the holder may designate in writing, in monthly installments of Oitte hua~t~ed tt-irt,~-one d 06/Y.00 Dollars (i 1,1.06 ). coaamenciag on the first day o! >tatols ,19 62 ,and on the first day o)~ each month thereafter until the principal and interest are fully psid, except that the final payment of the entire indebtedness evideneed hereby. it not sooner paid. shall be due and psyable on the first day of Tebruas7 ,19 9d If default be made is the payment of any installment under this note and it such default is not Made g~ prior to the due date of the next ouch installment, the entire pr~iP~ sum and accrued interest shall at once become due and payable without notice at the opption of the holder of this note. Failure to exercise this. option shall mot constitute a waiver o! the n~ht to exercise the rime in the event of any subsequent defaulk I:n the event of default in the payment o~ this note, and if the rime is collected by an attorney at Lw, the undersig~-ed herabR agree (s) to Pay su coats of collection, including. a reasonable attorney's fee. Presentment, protest. and notice are hereby waived. - ./ ClLnrlei s. Houen (~23•?0 8tnte Doouasntex7 Btaape ___ affixed to original note and gor~n oanoelled.) --- sl ~~ a• •llie a• Bogen And shall duly, perroymtp~~lp. and tally perform, discharge, execute, effect, complete, and comply with and sad of this mortgage, then this mort~a~e ane ea~tate h r~eby~created vshall ~aae a~na be nu~ll~ana 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 is 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 (80) days prior to prepayment ; and, provided further, that in the event the debt is paid in roll prior to maturity and at that tune it is insured under the provisions of the National Hwuing Act, he will pay to the mortgagee an adjusted Premium charge of one per centum (ly6) 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^ had continued to be insured until maturity : such p~1Yn-eat to be applied by the mortgagee upon its tion to the Federal Housing Commissioner on account of mortgage insurance. together' with 2 That, in order more fully to protect the security of this mortgage, the mortgagor, and in addition to, the monthly payments under the terms of the note secured hereby, on the first day of each month until the said note is fully paid. will Pay to the mortgagee the following sums: (a) If this mortgage and the said note secured hereby are insured under the provisions of the National Housing Act and so long as they continue to be so insured, one-twelfth (~) of the annual mortgage insurance premium for the purpose of putting the mort ~agee in funds Rnt~- which to dis- charge the sari wort~agee's obligation to the Federal Housing Conn asioner for wortg~e insurance 'ums pursuant to the applicable Pe'ovidons of the National Honsing Act, as amended, and Regu- tions thereunder; the mortgagee 9A the t+armination of its obligation to pay mortgage insur- ance prenuums; credit to the account of a mortgagor all p~y~a~ts made under the~prov~isions of this subsection which the mortgagee has not become obligated to ,may to the Federal Housing Commis- sioner. (b ~A sum equal to the ~ro~md rents; it ariy, neoct due, pins the premiums that will next become due and payable on policies of fire and other haurd insurance covering the mortgaged Property. Plus to:es and assessar-ea~s next das on the mortgagedu~p~^oP~ (all as estimated by the mortgagee) less all sums already Pala therefor divid4d by then Aber of mon«hs to e1o-Pse before one month prior to the date when such re~-b1n~yP~~ ~~~~ ~ and apegcaai tisseaa- auma to bs held by mo~ ee in PdJ- ~~ subsections of this paragraph and sU pay (a) All p~ynne is anentioned in the two preceding meats to be made Wider the riots aecnred hereby shall be added tog~et6az sad the to amount thereof shall be paid b1 the nro~"tiat~ ~ ~ a ~ t to be ~ the nwrt- ~ee to the toUo~w3og itaos in the adsr L pe~emtum charrss dMer tiM eontiaet of insurance with, tie Federral Housing (.nos- . missioner; II. gronud rents, #axes. aarsseosa~nts,1lro. sad other hasard insuraacs premiums: _ m. interest oo the Hots sscu:ed herein' i sari iv. amosti:atioo of tM p~indp+lt~ of as~d, n-pte. -: Anar deticieocy iA the amount of such aggregate mondO~e~nt shall, unless made good by the prbr to-the dns~ .. as~~ 4~i the~~~tt wqh enk ~o~b tq~) ;imp ~ ~ far (ii poi 0p10~~ ~colMct=a "tM~te dhstnot`to ec~ux~s t9 sash pgmrtt moe~ t61~i (16~ ~ ~ to ddb ~i~octsa eacpense ~4 deice pgmsets. - 1l. That 1t the total of the finis ma0s the wrier (b) of paragraph S li~~t shaIl emasd the amoa~st od Oelmee-b aclw~ 1b- ~Stlr~iA~M~-far ge~ound teats. taxes and assessments _ ..