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S T. ''~I~~ U 7'(. ~ L A.
E oR Vn[.uF RecE;vE:n, the undersigned ~-~-~----•
..- AMERICAN TITLE INSURANCE COMPANY
a corporation organised and existing under
the laws of the State f gglorids , or order, the principal sum of Twelve thousand
six hundred and No/olOC-- ------------------- Dollars '$ 1Z,600.OU ),with
interest from date at the t•ate of Five and one-quarter per centuin ( 5-1/4 96) pec•
annum on the unpaid balance until paid. The said principal and interest shall be payable at the office of
American Title Insurance Company
in Miami , Florida , or at such other place as the
t,older may designate in writing, in monthly installments of Sixty^-Nine and 68/100
Dollars !$ 69.68 ), commencing or. the first day of Uscember , 19 62 . and
on the first day of each m~ ah thereafter until the principal and interest are fully paid, except that the final
payment of the entire indebtedness evidence.i hereby, if not sooner paid, shall be due and payable on the
fit•st day of November , 19 92 .
If 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 nex! such instavment, the entire principal ssm and accrued interest shall
at once become due and payable without notice at the option of the holder of this note. Failure to exercise
this option shall not constitute a waiver of the right to exerctse the same in the event of any subsequent
default. In the event of default in the payment of this note, and if the same is collected by an attorney
at law, the undersigned hereby agree (s) to pay all coats of collection, including. a reasonable attorney's fee.
Presentment, protest, and notice are hereby waived.
j12. 60 State lloGUmentary Stamps s/ Gard J ._ Farrell (SEAL)
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affixed to original note and Gary J. Farrell
cancelled.) --
s_/__Donnasue _Farrell_________~5~~
bonnasue Farrell
Arid shill duly, promptly, and fully perform, discharge, execute, effect, vomplete, and comply with and
abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note
and of this mortgage, then this mortgage and the estate hereby created shall cease 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 pay the
debt in whole, or in an amount equal to one or more monthly payments on the principal that are next due
an file note, on the first day of any month prior to maturity : Provided, however, thPt written notice of an
intention to exercise such privilege is given at least thirty (30) days prior to prepayment; and, provide,
further, that in the event the debt is paid in full prior to maturity and at that time it is insured under
the provisions of the Natiot~sl Housing Act, he will p+ty to the mortgagee an adjusted premium charge of
one per centum (1 ~/o) of the or;Qinal princtpal amount thereof, except that in nv event shall the adjusted
premium exceed the aggregate amount of premium charges which would have been payable if the mort-
gage had continued to be insured until maturity; such payment to be applied by the mortgagee upon its
obligation to the Federal housing Commissioner on account of mortgage insurance.
2. That, in order more fully to protect the security of this mortgage, the mortgagor, together with,
a_nd in addition to, the monthly payments under the terms of the note secured heret;y, on t}te first day of
eac}`. month until the said note is fully paid, will pay to the mortgagee the following sums:
(a) An amount sufficient to provide the holder hereof with funds to pay the next mortgage
insurance premium if this instrument end the note secured hereby are insured, or a monthly charge
(in lieu of a mortgage insurance premium) if they are held by the Federal Housing Commissioner,
as follows
(t) It and so long as said note of even date and t :ia jnatrument art insured or are reinsured under the
provisions of the National Housing Act, an amount autficient to accumulate iu the bands of the holder
owe (I) month prior to its due date the annual mortgage insurance pren•.ium, in order to provide such
holder with funds to pa such premium to the Federal Housing Commissioner pnrsrrant to the National
Housing Act, as amended, and applicable Regulations thereunder; or
(n) If and so long as said note of even date and this instrument ar? held by the Federal Housing Commis-
sioner, amonthly charrggee (in lieu of a mar#gage insurance ~r~-ium) which aha[[ be in an amount
equal to one-twelfth ('1is) of one-halt (S4) per centum of the averab,e outstanding balance due on the
note computed without taking into account dElingnenciee or prepayments;
(b) A sum equal to the ground rents, if ~ny, next due, plus the premiums that will next becom~
due and payable on policies of fire and other azard insurance covering the mortgaged property, p
taxes and assessments next due on the mortgaged property (all as eatutiated by the mortgagee) less
all sums already paid therefor divided by the number of muntha to elapse before one month prior
to the date when such ground rents, premiums, taxes, and assessments will bocome delinquent, such
sums to be held by mortgagee in trust to pay said ground rents, premiums, taxes, and special assess-
ments ;and
(c) All payments mentioned in the two preceding subsections of this para~ataph acid sll pay-
ments to be made under the note secured hereby shalt be added together and the aggregate amotmt
thereof shall be paid by the mortgagor Each month in a single payment to be applied by the mort-
gagee to the following items in the order set forth
(t) premium charges under the contract of lnsuranco with the Federal HonainR Commissioner, or monthly
charge (in lieu of mortgage insr.rance pramium), sa the case mny be;
(n round rents, taxes, assessments, ftre; and other hazard insurance premiums;
(ia u~tereat on the noie secured heresy; and
(tv amortization of the principal of said note.
Any defioier_cy in the amount of st:ch aggregate monthly payntient shall, unless made good by the
mortgagor prior to the due date of the next such payment, constitute an event of default under this mort-
gage. The mortgagee may collect a "late charge' rot to exceed two cents (2.f) for each dollar ($1) of
each payment more than fifteen (16) days .n arrears to cover the extra expense involved in handling
delinquent payments.
3. That if the total of the payments made by the mortgagor under (b) of paragraph 2 preceding shall
exceed the amount of payments actually made by the mortgagee, for ground rents. taxed and asseagrrients
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