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HomeMy WebLinkAbout1822 ~}j itJ ,n~ 42JU t'VH \' ,\l.lT It.nHfl>. tIll' l:r"\!'r:<;it-(lll,,t ~TII~I~.'\,~'} 8). ~:. I!:\~' t~ WcCAUOllA)t llOOTGAaE 'l~6db\UY. INC. , " (orp'..ral:lll: Oll!CMllleJ 1\1\<1 t'.,lstinl unde.r Uudt.wI ."f ~it!\ t 0 (If Flor td6 ,ur onlt'r. th.' prinnpall'>ulll of Teu Thout1lind S 1,; Hund rt!d F if ty a1"1d 00/100- 1),,11l1lf3 ($ 10. 6~)O. 00). with illWIl,,,t !rum dl\k ;';.t tb. fate of F 1 VfJ .& ono..f our th pa centum ( I;t ~"') 1"'( snllum "n t}... lInp.ud h.llli\lI('~ untd l';\Id. Tr,,. aa.id \>tincip!\1 jlJld illlH(1!t ~hl\lIl"t' I~}"ll.bl., at lhlJ olll(\' of McCAUGHAN MORTGAGE CO~PANY. INC. In Coral G~blo61 l'lorldn. .tJrlllllu-cht)therpl5.('eM!}\i'Il<)ldam!lyd\'~ilp\i\t~in writinl\. in olUlIlhl}' II\!ltl\lIrn.:nLI\ 01 r 1 f ty-e 19b t and H9/100- - I.I.(,HitTlI (~ 58.89 ). .'omrnrnt'l"~ 011 Uw fHlll day of 00 tober ,19 &2 . and on th.. f1n,t dsy of t>,'>'h m,mth tht'N.'- Ii.!l,'r lIntll tilt. I'riH~'ir..'\lltnd lJItl'(t'J3tIU.' fully l4\id, f'x('t'pt that till' fil\!1.1 pa,'nienl of the t'n\lr., illdd.tt"\nN1.8 f'vid(!nU',d liNt.by. If !lot ~l(>l\t'r p<lid, ahA!! I~' tilh' and p.aYAhle on Uw flr3t dRy of Septerobel', 1~192 . If ,Id,\ll!t IX' rn{\.l.h~ HI the 1\lt)lI;PIII (If ,'-wy installll1('nt lllHler thh n'lte. 9./11\ if alien defRIj!l if. not JIlbde j"R"~ ;:'"i'';Z' ~,; ~!;"" dc:'~ ~;~t....A ..... !"'''~ Aile}, lIl"t...!lnH'.nL the {'[,tin' t.nnclpal !HUn and AlxTue..; int"r~l!.t 8hall at <.IrK,' 1",(""1111' IlUt' nOli pl\)"nhh. ~ltht)llt /loti..... at the optIOn of tlll" hold.~r of ~hl~ 11'It(~ FfUiuu' t,l .'x'.'r..\...... thlll optIon !'iha.ll not (Oll~t\tllt.. 1\ Wl\l\'i'f t,j t!l\' tight to t'Xd\'IS4~ till' nalil(' Hi the I'\"t.'nt of any ~uh-';("'IU('nt dd...ult In tilt, p\'_'nt of dt.fl\ult III the ~1i\Yi1l('llt'(li tliip. not". and if the !!.a:lli' ii! (o!\.'-d,'d by all ~tl(!rnt')" at hw, UIt' lJiJ,h'I'i'll{lli'<1 hl'r>:by i\xr.'ds) t" paY:l-lI (O.~t-5 of ((.lko::.tWll, indudwg a rell.'lollllble attornl?Y's fM!: l'n''I('nlru,'nl. prt:test. and lliJtli'(' aI': tH'r..\')' wai.'l-d. /a/ Prank_C. R~in~cke, S!~ /0/ Marguorite E. Rolnecko And ~haH li:lly, pr\,nl\,t]y. fwd iull:; llo','rf..nll. di~hfl.rlo\". \.;.:....-\1(\.. (-:!l'(t. I".lfnpl..t.,. an.! "ul1lply With i\nd abid,' by l'iH'L l'nrl V,t'i')' tlw "tl\,dlatl"il~., ayr....t1h'llLi. Ctinditll1ll5, anti r.,\.'IHlLUl (,f !<iud pr("rniS5,.ry Twit' llIld uf \rol.'\ fllnrt;rl\i(\" th.'ll thiS !\Inrt~ll.l\:1' ,.lid th.' l'!it~itf' h,'r.,l,)' (f\,,\t~'\l "hall (.'H.<'" hllll I.., null and \"flU Aid tht, mt)rtR'illr,)r furtIJPf (",1\'d,ao1.'\ 1\... foil,,",,: 1 That hi' will I.fty Uli' indd,t,.'dn"~,'l, P_" h('f,'inll{'f"!t, l,ro\"id'il I'tl'.l!..,.;.' is rf"f,{'n....J t,. l':lY th.: .11;'1.l in wh..h'. tir in an lllllount l'illJHl t.. tH,., ..r mo..' rnolllhiy !l.q~'nl'.'f.L, Oil tb' I'r.f:rl!'-1\j that art' iil'"\t due "Ii th!' lIutto, ('Ii thl" lln,t day "f :Uly 1I:"nth prior tp maturity: I'ro\'idrd, I",\'..,\.'r. thi1t wntte!i liotl(T:A an l:.t.'nUon to t'Al'r('~(' !!uch Pfl\ liq4l' !O; ~1\"l'n :1l. kast Hllrty (:W) dnYi1 prio! to prq\H)/iH'nt: and. pr{)Vilkd iurth,'r. that in tilt' I.'\"f'nt tiH' ddlt i:\ j>[,id iii full prior to it1l\tunty R.!1d fi.t that. tane it is ln3llf..d unda th{' \,rtJ\"l~I'.lI1'" of tlw 1"i\tl.-Il!i\IIlIl;Hlnj;; Act. l:!'....ill par to tlll' ll\Ort~il\{..t' an ad)lI1\U'.\ pr.nilum ch.Hge <.f o:lt. r~'r ("'fllum (1 '{ ) ..f H\!' tltli{lll~ll'nr;np.'\1 ar:lounl Olt'I",-'o1. (,X"I~pt thnt in n" "\"nt i\hall tht' il,l)u!'tf.(! pn:mium .>\".,0:\ tiw BgR'r.:~ate I\IlI/JU!it of I'n'miul1\ dult )\.;1\ ....hkh wnuld havt' 11t'1.'n payab!.. if th.' nwrt- ilaR''' hnd t'ontmu..d to I.... lli3un'd until matllnt}': fn.:rh paYDlfllt to 1J(~ apP!"'i1 by Oli' rllllrtj{agtl' UI~!/l iu o!Jhj{ati'>tl te, thl' Fhkn.J lloU"IIlX ('o/1llni"SlUll"r on fv:colint {II mortgflll' lr.I'Uri\l:Ct'. 2. 1111lt. in onl('r mnl\' fllil~' h pr.)kd li\.... ,,_('-Curity of tilia mort!{ft!..(e. thl' Ilwrtj.(al{uf. t"i\>'lh,.r ....lth, And in ad,l!t!uit liJ, the rnunthiy J,<'\ynH'nt.l\ und..r thl" ll'nn5 of Hi" !lot..' M'('\lH'(1 h.:r.-.I.y. c!; iiii.' l\r8t day of l'lKh month until the Mid not., II'> (ully paid. v.. ill pay li) the mnrti<li~'~i" til{' 1olloWllllo{ l'UfnS (11) I! thl~ moJt;C"i.'I' ilIl,1 tilt' lIaid n'lt.. It"\'l!fi'\ i,,'rdlY IH.' in!;!ll"'! \lntl,,'r th{' pr,,\'ii\ion~ of tht, :-~atl"nf\j lI\J\l~\i1g Act and !'.i) 1"liK n.o; !hf'j' ;:untl!llH' to 1;(' p.r, jn1\ur~""1. OI1l'-twj.lftl. (11il of tho: annu&.! rn,}rtll.rlj{t' irHIUfMH'f' Pl'>!IlIUIIl for tlil' pllf\....~(. <If pU!~Il\Y' trll' l!iortR"1.'''' in fund" "ith "hich {,. rlli\ l"hari-~I' th. "';"lld fIiOrl':ill.:"'l' t)"h~ittl,"!Ito th.: F~'(hor51 111J~1"1.1IR' (\mlfni;lIwll,'r f,'r, mortl{, Ilg.' !l1,i\uranct' I'rt'ntlUIll!:\ pllr~uflnt tn lr..' nl'vh{,flhl" l,rl)\)'-\lUTlll of tilt' ~..atl'lIlH.l HnU~lfIi\ Ad. ~'l nnwndNl, E1.nd Hqsu. bll"l1:~ th,-rI'\JlI,\tor; tlil' llloftg..&"I'C :;h.dl. pn the knlllnatllln of ltx (,bi:y,allon tu VI\" OWl !'r:"~l' insur. :!llee, l'r('ml'..lrn~. rt"l':ilt. to the l\{"'l:unt of till: I!<t1rtllSj{nr a\! raY1li('ntA mudt' Il~l'kr tht'.prf)\'i~ion~ (if thl!~ ~ub!'.,,,' t ,,-.n wh i(1i t lii' :nl>' t~ aK~i! r.a3 ,lot b.-:\:onw lllJbgt;.t e,j to PRY I,> till' l- {'dt'!ill l!IlU;;lr'i (.,H"ilrl1l&- IHtilPf. (0) A Stllll'''Jllfll In t};.~ Ilrt\und r.'nl1l. if any. flPxt .-i\ll', phlll till' prH/ilumll that wili !,,"xl IW<c'll;" flU" i\!ld j.ityuLi., tI/I [-I!iCl"~ III iin' ann "ther hali\fd inauraliCtc ('O\'i'rmR" lh!.: rn"r1xi'l<,'d pf"p,'rl:>. pi[i~ t.!l'C'~ and ld..'..H\.'.rl....'llt.~ fwd dilt' or; th.' m"rtgllll.!'d !'f"('1>\'rty (all M 1'1itimat...d t.y lh., m"rt;.pl!{'....) !l'~'! al! :':U!!l" alr/'ady ~..'lld ttl.'rt'tllf dl'ii\kd I,y thi' numb"f of !Ill}r:th~ to I'lap5l' Ldon: one lIHmth priqf to tI\l' tifitl' wh,'J: ;1ouch i{rllund f'\>nl!O. J'l"\'rniulTln, taXJ'". and f1.-~"I'.llgt!l,.!1L, \'.iill:",-:;:onH' ch'!inqm'nt, ~ud'. lIun:s In I", hdd by lll"rtl{Iii{H' 110 tru"t t'l f"i} !t?...Hl j(r!.lUlld H'flt<\. !.r"miu!ll!<. Un".;. and Ill",ial a..~"'.'l-A fIlt"nt.g. \tl All paynwnL1 flwllliorwd in till' t'...." prr....."l1n;t 1l\l1).3.dlOfl!\ (If th;~ p{ifa~rl\ph and "ll pny !m'nt./l t" l~. nH:dt~ until'r th, filAl' ",'(\H...d ht>I't'IIY "hali I... l>1id,'d to;;dht'f 1IO,! tlh' 3.8'grq~i'.tt' aTtlolJlit th(.rh)t "hall he pfi!'! lJy the rnoft~i!R"or ~>.a('h nnnth II, l\ singll' I>ayrrwnt to he aPl,lied by the mort- gd1:.:to t" the followin~ iln!13 in th... Or<\N ~l forth: L IH"mium chargl..t\ 11l1,kr Uw (ontrB.d of il!~ul ~11(': wiU, Ih" Feden\l HOUt!:ill{ C..lm mLMionl't" ; 11, ground rents, li<\.-:i, /'i-'lSt;.Ji..srnt'ntlj, inf'. and OU.'.'f !Hu..ard iIi"IHIHH'{' pnrniuma; tn. 1fit.f~r~.~t on t.h~~ not~ ~:<urc-d ht:jeiJY~:1nd IV. WlfJrtit.atl<J11 of th.; prinCi!i;>! tIt t'>iiid Otlk. Any ddki;:nc)' in ti,p arr1l,tllll of IIIl{'h &IfgHll~t~ monlhly paymHlt !lhill!, llnipA..~ 1!l&(h- 1(0t....1 hy Uu't rnoftg"'..gor prl(lf' t.o th.; liii,l' dn, t...'~ of the Ti':xt l\u,h pa;cm..n(. (t',!IISlituk !HI ',"\t'lll of di'fa!lit lInd"r thi1'\ mort- g~. TIlt' mortKagN' rn~}' ("i,lkd a. "l~tt: (har~",1 not w {'.(,~~~l two OdiV< (i:{ j hr {'.ich (b!lar (t I) of ('w.~h p....yment mor~ thAn tHh."I1 (10) d(l)tl i:l arreArs hI (OVl1r the eJ.tr~ ..X!JeI\!W: involw..i in handling ddinquent ptlyr~ntA. ' 3. Th;at j{ Hit' t"t.a\ of th,' ~1;lyr:1>'nU ml\'!~ b{' the rnorl.ga!i\Jr ul1d~r (;,) of l'arngraph 2 pP.....J'dilig i\h<>JI ,:xCt.::<:I. the i.Vl, Il)tit\t of Pi1Yffll'i'lL<\. IV:iullHy !!Hid~ ,j'j thE m0rt.g~{&.f'\,'r fol' ~l~.,ur:d re!;t!\,l.al(d~ @./li\ i'_~"f'~~..rnl.'nl4 And \i1,Si.lra.tHX' pn'nll,"M, M ti;r~ (~~ m,i\)' b-c. such ,,)teeM I!haH ')of~ (:n~\lt~i by tll.! 1ll(,rtg1il(f,{, on f!Ub"1<~U~lt paymcnta It) h.~ !Jlili..l... by th" ffiC/f.tiAj{Df. It, nl')v.'~w{}r, tilt.. fllD/1tJ;jy f,armentR mild., hy th", rnqrt~li\i'}T