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FUR V AI.\J& Itt:.... J'J"'ro. tllt~ Ulldt'l"t'lllflh"} I'r\!rni.~ (K) to {lilY tv
';.r. (I'('f C.'Util, ru,
McCAUQtlJJl MOOTGAGB COt(PAbiY. IliC.
. a c-orpor-ation otllani&eu IU\d ('lo.i~tinl uf.ld~r
t.he\.a....ot state of Plorida .oron!t'l',thOlrinnp<lufIlut i"1fteoll
Thouuund One Bund rod ilnd 00/100- - ~ Jx,Uan ($15,100.00 ). with illH'rt.tst from
dAte at the n~ of 1'1 ve & one-fourth pt'"t c~ntum ( 5* ~) pN annum on tilt' 1I1lpotid
bAla:\c~ until p&id, The u.1d prind~w .nd Int~f~t .hall t>C\ payabl-e At the otl)ee elf
McCAUGHAB MORTGAGE COMI'ANY, INC.
in Coral Gables, Florida .orl\llU<."hoth~rplac(lu~heh(Jld('rnu,ydt.'1\linf\telll
wrltin..,lnmonthlyln!ltaUmentaof Eigt1ty-ttu'eo lind 50/100- -Doll.u1s($ B~.?O ).
c-omlfH'ndng Oil the first day of l' H b run r y . 19 62 . and on the fu,tit day of NUll ll111nth !hH\"
k(tH unlillhe 11rincipa.1 IUld intenl'1it &n" fully ltoaid.l'llct'pt that the t\na.l paym{"nt of the ~ntir~ indebtt'dneM
evidencl"d ht!Teby, if nol K.onN paid. ..h.1I1Jt~ due .nd PAyAble uO the fl\'1!l d.AY of Jar.uHry ,1992,
I! default b~ made in the payment of any inaWlmt'nl undn thi.8 J1,ltt', And it ftlll"h default il\ not made
r'~ prior to th.' due .tate of the ne~t auch inl\ta!lmt'"nt. the f'n\if1" principalllum a.!ld ~rue<1 inlen,gt ~hali
at once l~ome due and PllYA.bh: withuulllotke allhe option or thf' hf)ld~r of thill note. Failul't' tu ('x(,fd~
thi.a option ~hft.ll not cOOlitit\lt{' !\ waiver of the. ril"M to e~ncise ttw same in the t'H'nl of allY 1\lIh~~':'I\l('nt
dt>(i\ult. In tb' t'wnl of ddault in the p~yment o( thil note. anti if the Mme in collt'd~'(llJ)' an attorn!')'
Ilt lAW, the underl!iant'd hnt.'b)' lilfre(1l) to }lllY all CV8t.a of c,-,Ilt.><:tion, illc!udin,. a r-t'u(.na.hle atturney't\ fll(!..
Pn5eutmt'nt, pr\lt~3l. and notice an.- hrn;Ly wa.ivC'd.
A
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And :thall duly, pnlmpU)'. and fully perform, di3-~harKi.', 1'X(~t1t(>. dTr"l:t, cornph'l(', and comply with and
ahlde b)' t'a.ch find .'''NY the stipulations, li~n't'HH'ntl\, condition!;, snd connalltli of :;nid l'rumissory not~
ILnd of thil\ mort Rage, UH'n thil\ murtgaiW and thl' t'l\W\h' had.)' ('n'Ht~xl Rhf\lI ('('Mt.' ftlld l~' null and Hiid.
And thc mortga~or fu rtlwr C(lH'I~alll.s a..~ (ollu....." :
1, TIII\t lit' will pay lhl! ill\hbtnilH'~S, M h('rdiihdon' providt"l. Privllq{t' i1\ n'~t'ne,i to p.il)' tiw
debt in whol..,. or in an amount t,<!un.} to one or more monthly l..'\yment~ l,n tIll' principal that Sf(' no;!. due
on tht, note, on tlw flrst 11;\)' nf rlllY Ilionth prior to maturity: 1'1"'I)\'ide,I, hOWI'V"f, that .....ritten n"tl(,l' or an
intt'lltll'l1 to l'Xl'l'ciM.' SItch prI\ilt>j.:1' is given fit h'a!\t thirt~. (30) days prior to pn'l'il)'nwnl: Mid. provided
turtht'f, that in tht' (,,,,{'nt. th'e (!f'lJt ig p.aid in full prj~)r tn maturity and at thi\t timo' it ill illilUH';\ under
the pnwi8ion~ of lhl' ~l\tiO!\?! ll.oH!<inK Act, he will pAY' to the rnort"agt'c an 1l(1)lIl\tt'\l pr~nllurn c1u\rg\' of
one Pt'f c.-ntum (1 'r' ) of Ow orl~lI\al prrnclpall:lmount th~rt!(.lL ('xct:pl that III no f'\'\'lIt I'hlillthe ndJu!\ted
premium (''J((,{'i.''d tt, ; ag!{n'lr:~tl' amount of l'r\.'mium duugt'S which ......ou!d 11:\\'1.' hC'Ui p;;>'nl.l.. if ti\!' mort.
gage had colitinur.,. to be in!lurt'.j until maturity; Kllrh paym('nl to 1)(' npplit'tt hy lhl' f1\ortRil${t.'C Ul~lI\ itA
oblt~l\tiOfl to the Ft'<lcral HQll~ini\ C4.)f11miMioln'r on i<<'\:Qunt of mortl{I\Ktt inauranc(',
~. That, in oniN mon' f\llly to proh.'d the !'{'(uril}' of thi3 mortgage, the mortj{a~or. to){dhi'f with,
a.nd in sdditioJ\ to, tlw monthly p.avllwnts IlIldl'F thf' It'nns of tht' !lott> 8(>ClJn"i hen'by. OIl tilt' lir"t day of
\'ach IIwnth until the &aid noh' i.5 {u!!}' paid, wi\i !'.fiY to the mIHtKI\g<.~ t.he followinl{ 8um~,:
(0) If this nlOrl[.(iiK'-' nlld the lioni.! note 8('C\lf('!\ hereby an' insult'(\ uiHlf'f till' PfO\'I!\ions of th.'
National HOll!iinl{ Act !\nd so IOflK M th('y continue to 1". &0 imlun-d, {'fW.t",'Hth (I.,) of tl", HlIllual
OlortKltJ(t' in~umllct' Jlft'miulll for thl' l'url'oi\c of pattlllK tht' mort9,'fiRt~~ in funds wit). ..... hH'h to dl~-
char){t' the Mid JJll)rtKRl{I..'{"S t1bii,IF\tillnto tl,H: Ft'dl'ral llo~l\i!lR Gommi!,,!\io!lN {(ir rnnrtgag\' in!\Uffillce
pr,'nHUmg ~JUr"wUlt to th~ JipplH:ahh: pfO,.IK10t\!I o! the NatlOnnlllou31f\K Act. A..~ Rlilpnrkd, l\nd Hqru.
la\iond thpn~ulldt'r; thn mCJrtgHf{Ct' "hall, on the temlinath.n of its ohliption to p,,,y mortl{Hj{C Illsur.
ance PfI'nlIUnlll. crt'dit to HH' an:ount or the mortgagor all P"')'nll"ntl\ mad., under l!\I.' pfll\'isions of thi~
1\ub:wd I,m w h it'h the rnortKi\!p:e hM not I)(.'(:ome obligllteti to pay to the Ft:Jt' oJ liuuslIig (\IIlHHln<
fH,n"r,
(h) A /HIm (,<Vial to tilt' SffDund ft'nt.., if any. nf'xt dul', plus th(' pfoliium~ that wi\ltlext IX'COllH'
Hlie <lnd l'iiYii!.li' on p'Jildf':-' of tire llnd other h!U-..'lnt in511filnC{~ ('ovNill)l; tiH' ml,rt>-:l\go'J prop,'.rty. pill"
t-fiX.es and fL~~(';.;."'nll'nts neY.l dl.H~ on tlu' l1iortgagi:d \lTOflCrty (fill fU, i_,!'.tirnntN! br th., Illorlj.;,ig.,.,) le&~
a.1I 8urn8 aln:adr lJ.ilid till'fdor dIvided hy the oum wr of 11ll/llt1JS tu d;'IKH' iwitlT<' 01:(' Ilionth' llrinr
to the date ......IH'O such Rmund r('nts, 1,It'miu!l1!-\, taX!'!l, i\nd r...~3t':v.jn('Jlts will h~~ome d,'iinqll\'nt, guch
~um3 to be h(,I.! by modKJlifi' in tru"t t~) {",\Y !'-aid ground renti;, pr('wiurHs, tnxt:'1!, and 5!)to.:cial as-'\esg.
ments.
(c) All p8ynwnt8 mentioned in the two pH'(;{..hng l!ub~,~til)l\R of thi1\ paray,fi\\lll IHHI all pay-
!nl.'nt.5 to he ml\d~~ under the not(' lH~Uf('J iH'n:,by ehail be lu:iflt'<1 tog(,thl'r Rlld tin' aggcq{Btt' IUlwunt
UH'i"eof lihllll l~ p!lid hy thi: mortgagor ('-B.('h month in a ~illgle payment to he Applied hy the Illort.
gag{ce tc the {(.Howing item~ in the order set (.nth:
I. pn,mi\lnl chnrgvi! under ttn1 c.>ntrad of inJ\urancc With the F('\INi\\ Hotll\ing ('A)m.
rniMioncr;
n. ground renu. W,X("lJ, ~9.'HnenW, flrt~. Rnd other hSUlird in~\lral1re pft'miunu~;
JII, intcH'.at on tho noW M<urcd hNt;by; ~nd
IV, amortiu.Uon of the princlt,li'l of s.iJd note.
Any rltflClency in the a,mount of such ^g)(r('jat~ monthly payment shaH, unlell.S rnadp ~(){).i by the
niorlil'aCIor prior to Uw due date f)f the next ~uch pll{'fi1tnt. (Oni!tltut{. An I~vl'nt of ddi\!llt under thit! l!lort.
113GY. The mOF4!agt."€ may (:tJI1{~t a "late chargc' tiot t.o ('xc(;eft t\-~o c('nlll (2{) for l'M'h dollar ('1) (If
f;A('h p.ayment mQre tha.n Mt(.,"\,'n (H,) da)'. in i!near3 to !'QVH the (~J(trft f:XlW!ll<<~ iJl\<)!"t."<i in handling
d~1inq!)ent ~-aymenta, .
3. That if UH~ total of the paym..ntA fni'-da by the rnortg-4.gor under (b) o~ pl1f.flgraph 2 pn:~('dilig ah311
ex~ Uw Amount of paynH'nts ACtually m>>.ae b;f the mortgiig~. {or rround ft!nls. t.'\Xdi and Mt.NlJ'J'iielit.8
8,lld iJl^uran('e prl'minm8, M tht. (8..~;> mli}' he, filJch ('An':$.'! tohalll>f~ Cfiy:llt('{} by the mor-tgaRec ot) IwL:wquent
pa.)'m~nll to b~ made by the morig-agur, H, howe....er. the monthly pJ.yment-' ITll1d(' by thl' mortgagor
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