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43 t1.t! 432
i'o\( \'Al.\'f H'.C}~l\.:V. th{' llnd(.r"rtiiJHt....i prOmllW-\5j t~1 j....y l<,
AK:.:RICAN 'fI!tJ: ItmURANCI OOKP.4Jrt
, a ("'HJ~(AlIOII orga!ilzf<li 1>1111 t'XI'Itl!!l;{ llll.kr
tJ". ! """ of 1101'1 d.a , or onli'f, Hit> prlnei r)~\ IHHO (If "!"Yo n tJ
t ilOtHU,.nd two htUi,'tr6t1an'1 Ho/100 })(II1JHl\ 1$ 20 , ZOO. 00
IHt~ rdit ffi'Hl dAk R\ the n\lt.' ,If t1.ve 1\00 one-fourth I)('r cC'nttim ( 5a
AHIlHm (,lItht" unpal.i b~IlQCl' until p~Hj The uid ptlllCip.AI And lUlt'fl.'a\ lIha.l1 I.... ~;a)tlU'. at
Ji..tUH~lo&n T1 tllt InllurtlOOe OOillP&Ui.1
ill Mlaml, florUl.. ' M Ilt/loch 01110" i':,}.{"t.' M lh{'
huld,'f ma}" d(3i~nAt'. Il1 wntlflI{, In month\;' iMl.llmt>nUl Hf One htlndr61. el...n and 71/100
Doillll"i\ ($ 111..'11 ). ci~mmf'llcillg on ttw tint d..a)l of Oo~()b.r .1'-' b2.. Awl
on Uil' l,rl'ol. dAY of ead. month UH're-afl~r unttlthe princlp~l ~\Od Inkn>;-il arc fully pAid, ejc~pllhftt n". !tnAl
pA~rnolt uf U..: .:ntITe IJ1,ld)h....int"M <.vidcnt....~l h1'n-hy, Ii lloll ~OOIH:'r ~....!d, ahAlI be du() And rmyablc on the
first day of aept.mbe:.f' , 19 92.
i. ~~ 1 th
~~) I"'f
l h..' (",ffj(:,~ 0 (
If ,ldAult \~ 1:'iAd.. Hi t.hl' ~"';'-illl'nt of /HI)" in!itlJJlni\'nt UlJdt'l' thi!\ 1;<)\.... A.nd if !lu<:h defAult \" J1....t fH"de
g\"-,J pOll' to the duo ,li<tt~ ot th~ ,\t').t 8U{ h I!i!;t~l.i!rnt'llt. tilt! tntit\. princll~ i\um and Q(,cflJi:,,1 IlJtl.ft'st i!hall
At 011(\' l)("(:omt. till'- ilnd l'I'~'ab!e without !l'ltin' allhl' /.JI,lion of the tw!ll;;>r of thl" nott:. F!\ilurt. t,) n:..n:iS{'
thi", Ol'tl\}11 :;hA.1i nnt COIlr.tltut., 1\ \,..~iH'r of the right t.o (.Xt'((:l8.e the ....UIH' ill the ('\'cfll cot any t\\.!Ls(><:tuent
,t"(ault. II! the en'rot t!f Ikftwlt in the p3YIll('nt. ,'.! thi~ 110t... and if the M!l\e UI (l,\led.xi liy all IittOllH.')'
>\t L~w.tiw un(!f'r~lg:nt'd lH'rd,y agn't'(II) to l><l)" All C(<llU 01 \:olli-'dinn, including a Te~~t)n&ble attorney'!! !~.
:'I<~~{,iltlllfllt. pn"Jti'5t, a.nd notk.~ aH~ tWfl't.y wn.i\"~l
($20.20 Sta t8 8tttJSp9 &1.' n..:.x.e-d
to or1g1.nfil n at.e and oanaelle~L)
a/ Br6fi.d.an J, (}&ll~l' (Seal)
. Brflm:1in ... J ~-_. G-a.l1itSh" r --
8/_ Ci\~gl,p~_~. .(}allIl8t~I' (B8Ql)
Osrolyn v, G&llagher
And ;\lH~JII~uly, pn'lll}!tl)', l\nd fully pt.'T(orm, di~d\9,q,I'. ")I"'llt~, ..lfe-ct. 'llmpid.,. I\ltd (um;,ly wIth and
tll>ldf' by .'aeh and "veri" the !'.Upulniloill(. ~~,.,'i-':tl,:nt.;,. c:nndltWf\5. fillll COVI'nan!11 I'd @.~j(1 l'n'!f1i!',..~...r)" nnt;:,
w.; of thlil Ili,.rtgs.xe. th('ll thin nw' !({aX',-' l!llll tl1l' d\t~'\t<' fH'n.by ("f,'l\te.J shall ('f'a.~f: And 1)(.' nuU and \.)id
And th.' m(lri~Ii1i0r furth_'r COH'f11\!I!.!:\ IL'i iulloWIl;
1. Thllt h.. ""ill P^j' tl1f' In.!; btt..j:;n,,,. Il.'i h"f,'inbt.'fn!.' ptuvi(ihi, I'ri\ tlq{\' it- H''''('fV.'d t,) P:'\i th('
dd.t In whd.', <ir in ao am(,un~ HlI.!I\.\ V' (jlli,' Of ma!C' J)l<Jflthly p<tYfIl('nk.. "II th,' pr:l,npai th:.t ".n' rH'xt due
()n t/w Hot'-'. on ti", rirat ,Ia} of ~..ltY mouth Vr\.".l' t.j nlatllflty: Provided. hO....,'WT. that wrltU'11 netlet; uf &n
intuition to i'V'ri'il!of~ 8U"!', pri\ih'i{" IS V.in'fl fit !"Mt thirty (30) d,iY9 pd<.>r tli I'rt.'l'ayrni'llt; nl1d. pro\'!lkd
furt\wt. that in th~ ('\i['nt UH' dl'bt i~ pAid III full prltlr to maturity f\nd nt that tirnt> it i1' i!l!iUH'd under
thi' prO\i~Il'f1i1 ,A tht~ Nntilllli\l J1"u~i!ig Art, h.. will p.ny b th!' Inorli\&7,t......' nn fldJI!~t.'-(j 1"("1l11\l!l1 chari!:' of
one l",'r n'ntum t t ~:;-,) (If Ow oriR"loal pnllt"lpii! amount ther,""t, 1'~"I'pt th:H in lit) "~"llt !!hnll lh,' adJu;<t{-d
pn'mlll!!\ ('U'{'i,..t thl' 8l1,lln'j;('atf' iUl:ount of pn'miuin dwrgt'" which would hr..,',. I H.".' II p.aYl\hlt' if thl' InfJrt-
1(8!('(' had cPlltinllt..d to I..., 1I1;>.ul"\...1 until lli1\turilY; Hlrh \.HiYI!l('nl tn be ar'l'ht'-d by the TIl0ftgEl.g~ U\l'JI1 iU-
(.bli/{i\tlOl1 to Hw Fl'tkra! H')ul!l!l;.{ (omml....'1lOli('f 'm !\("f(JllOt of mortgagl' in!luranu'.
2, That, in Ofder morl' fully to prfJlect tliP I,..:<"ur\ty "f thi!\ fllorlgl\g". thl' t;.ol'tl{ii$\OI. t";idLer ",(Oi,
MHi in additlOn lo, tlOt' monthly J)J\~'HH..nt."1 under tlit' tf'rm..~ (If the Iii.lt(. !4'-(:uT,'d ht>rdJ)', 01. th..' hr1\t d1iY ot
e?-.('h month l'.ntH tb..' !\aid ll,,\i- is fully ~lJl.ifi. ~il! 1':i.)' ~o the nl<.,rtj.(:-!gt'." thl' fuliowinlo: IIUJn!\:
(a) If tille mortllf.j{t. a.nd tlit ~~.Hl Hot. !><i;;l,Ht:.d l\!.'r.,oy a.r.-' in!lan:d un.!e!" the pril\'i~'l';;l!1 of tilt'
Nntj"lilil }louRing Ad 1'1,.\ Btl k,ng as thi'Y cllntinu{' to I*!\.O in!liff'(l, Olw-tv.el!th (1';:\ of t~H' annu:\!
rn..rti!.i\gi: insUlan\"l' !'ll"nlllilfl for th.: J>uq",1\., of puttlflll th.. lllortgaK\....' Hl lun<lF. \\lth whIch to <311;'
dU\fl-{" 01.: I!-.'j.j(i m()!"-t~l\i~'\'.!\ obil.l<:i\l~':II.tllth{~ Fi.Jt'r1l.I, i IO~lS1:1$1' C.(i~H(1i~."lOner for mortr;i\se lIIS11:anci~
I'n:.nnU;;lg ~Rlnmafit tn tnf~ fIPPUC-l!.},ll.' pt(I'.r3l(ln~ of tne Nl\t.lImlll HOUlll11R' Act. M amended, lUid hegu
l!it10n.'! lhen'undl>r; tiw llioJrlgRgl'(' ~h!'il!. on the t('mlillntl.}[t of it~ .-.blij(allVf\ to pav m",txa~.' IlI!iUf.
fil1ee prt'lt\l\lfll3. CH'dit to th€' A!'CiJUnt of tlw mortga.gor all 1..'\yrnu\L~ !:Hl,dl~ liilikf tlot pr(l\!~ion" of thil;
\t:b.'\,,,-tlOn which lb.", ilio;-t~llgCC hw. not i.i'l'CDme l..,b\igAl-i~j tu pay tv Uw F!'d"fA.! HUUfil!li!; ('.\)mmi~-
~ ltiner,
(f. i A ilium ('<111~1 ti) till' jrl"QutHI f'f'nt,;. :f /'in)', Twxt litll" 1'1\11\ Ow pr.-.rniUlnll that will n,':>;t iW'C;'T!1fo
du>' find I'~yahl.. Of! po\tcic.\ of firt' find oP",r hAtAr.} inBUrillH.'i' Co\'t'T1nsc the [li"rt~:'l;!....1 I'rol',{'rty, I.ltl-~
t.aJl,U; Itnrl fL~~"'!I!\.ment8 IHU:t due on thl..' rnortv.llini pr')IKrl)' (;ul !1.! p"Umli!,'{i by th,; mortl.{LlH(':) l;:'",~
all flUITl.ll (dr~llliy pAid thrrdor dividl;d by th~ nurnlwr vi fI1:,.nlhtt to (.hl*.! i}d"n~ n'\j' ll10nth pno:
to thi; dAtt' whf'f! I\tlch IF>;}und ft.:ntJI, pr\>miun\8. la.'.(~, ~!!ld h'5ri'.J.'..i!H'ntfl wlil b.-"orrw dd!liflU('nt, !lUCr.
BumI' to i* hdd by rnorti{agcf. in tru~t to pay M.id ~nound tt"nt.s, pn<miUfll!, t.ay.N'1 and I'l"*-...:iai nY.eM'
Inf'n 1..3 ,
(c) ,\H p5.ymi,.'n(.5 nWl!tii}Il,~.1 In tilt' two t'ft,,:('.,jlli~ liub:wdiol1/\ d tl1\!\ Pit!"SgfHl,i. nr.d al! pay..
rnt'lIL1 to }~~. made U:-dPf tlJ(' not{: M'\'ur'N1 h"l,.b, f<hf\ll, 1>(' I\1ld~ togt'-ther and th~ ltRKi"rat.., amount
tt,N~,jf shall !X" p~lil hy nit) m(lrtJ!i\~nr t:~ch m~lflth In f\ 8l/1g1C paYfll~nt to ~. ar;ph~ IIY tb !liGit-
gi\.flc~' to the following it'.:l1\tl in the odi'r R-tt {,)fih:
1. prl;miUlYl fhaf){€cS \lOaN th~ r!.:.r;tf!t'~ of il1J!\lrrm(~ With the F~iHal HO\JilinK C'Uffi'
rniM\on~r ;
II. ground f{'nt.l;, tn~~, i\.l!iVMm.:nt~. flf!!, and other h.ul8rJ 1I~'jr!im'" pHm.UHU;
!It, int-=-ri'i\t on UH' not" ~'."tU!(...j ht'f--eLy; a,A
n'. a.rnt)!ii.uti')fl of thfl priodll&\ of ~i'} Huh}.
Any d~f)('It1KY ii; thl1 r<.;:!ount of fill,h @g}t'rf+:J.\tf' fl1nllthiy pi-ayment !\h&.ll. Unl('M lfHVk ~ood by tho
m01i.g,,*,-:r prior to tb, ,~ue dali; (If t[;.;.;,(':'(t l5uch :::~;'rn"llt, f0n"Utlllt> Jon .:vent td ddau!t u!!<kr t.hilllllort-
gitg~'. ri.t.' m(lrt.&ai~ may ((;ll~t h!~te chs.rtl;1J not h, (;tf'''f'.j two dnll; (U) fvr t--ACh doHhl'" <$1) of
each p,'wm~nt mor~ th~f\ 11~'Nl (15) dil)'ll in bf!"t':#."5 to (flver th€ f!xlra e,pe()F~ \n\,l)h~,(i in hafHHing
di!lil1quent p4yrr,,4nta.
S. '1111\: if tht' totAl of th.} ~:l:\Fni.:n~ fl!.ftde h} tt..:: !110rtg-Jl.g('j' und<;l" (b) of pMAipaph 2 ~ir('...Jding Il-h:Jl
exceed t.h" Alftount .:d paymUllA lldll!$.lly' mAd@- by ti,.. li1ortl.lagt.....:. (0\< ~r(Jur.d n.nb, ttu:~ (wd a'iM'M\menU!
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