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F'o-t VAI.ug Rlacatvlm, the underaIg¢re3 promise(s) to pay to
Bogl.ey;, Harting & >:ii ght, Inc.
• , a corporation organized and existing under
the laws of Maryla.~td ~ , or order, the prir.-cipal sum o° &l.even Thousand
and No/100---__-__-,~_------..-------------,.,._--____-- Dollars (; 11,000.00 ), ~sit11
interest from date at the rate of Five and one-quarter per centum ( 5-1/4 %) per
annum on t'te unpaid balance until pnid: The said principal and interest shall be payable at the office of
. Bogl.ey,. Harting & Hight, Inc., P.O. Box 1317
rn Eeu Clatlie, Florida , or at such other place as the
holder may designate in writing, in monthly installments of Sixty and 83/100----_--__
Dollars ($ 60.83 ), commencing on the first day cf Januaxy 19 63-, and
on the first day of each month thereafter until the principal and interest are fully paid, exce?t that the final
payment of the entire indebtedness evidenced hereby. if not sooner paid, shall be due and payable on the
fir•at day of November , 1992 .
If default be made in the payment of any inatallrnent under this note, and if such default is not made
good prior to the due date of the next such installment, the entire principal sum 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 exercise t'rte same in the event of any subsequent
default. In ±he event of default in the payn'Ient of this note, and if the same is collected by an attorney
at law, the undersigned hereby agree(s) to pay all caste of collection, including. a reasonable attorney's fee.
Presentznent, protest, and notice are hereby waived.
/s/ Bruce Jones
Brtace Jones
And shall duly, promptly, and! fully perform, discharge, execute, effect, complete, turd comply with and
abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note
end of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void.
And the rnartgagor further covenants as.followa:
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
on the note, on the fira+ day of ary month prior to maturity : Provided, however , that written notice of an
intention to exercise such privilege is given at least thirty (30) days prior to prepayment; and, provided
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 National Housing Act, he will pay to the mortgagee an adjusted premium charge of
one per centum (lqb) of the original principal amount thereof, except that in no event shall the adjusted
premium exceed tt~e 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 securti±y of this mortgage, the mortgagor. together with,
and in addition to, the monthly payments under the terms of the note secure.~l hc.Cby, o.. t;le fi~ai. ~iay ui
each 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 and the note secured hereby are insured, or a monthly charge
(in lieu of a mortgage insurance premilrm) if'they are held by the Federal Housing Commissioner,
as follows
(I) It and so long as said note of even date and this instrument are insured or are reinsured under the
provisions of the National Housing Act? an amount sufficient to accumulate in the hands of the holder
one (1) month pprior to its due date the annual mortgage insurance premium, in order to provide such
holder with furde fo pa such premiulr~ to the Federal Housing Commissioner pursuant to the National
Housing Act, as amended, and applicable Re~ulstions thereunder; or
(n) If and so long as said note of even date and this instrument are held by the Federal Housing Commis-
sioner, amonthly charge (in lieu o! s mortgage inaursneP premium) which shall be in an amount
equal to one-twelfth (y4=) of one-halt (~i) per centum of the average outstanding balance due on the
note computed without taking into account delinquencies or prepayments;
(b) A sum equal to the ground rents, if any, next due, plus the premiums that will next become
due and payable on policies of fire and other hazard insurance covering the mortgaged property, plus
taxes and assessments next due on the mortgaged property (all as estimated by the mortgagee) less
sll sums already paid therefor iiivided by the number of munths to elapse before one month prior
to the date when such ground rents, premiums, taxes, and assessments will become delinquent, such
sums to be held by mortgagee in trust to pay said ground rents, premiums, taxes, and special assess-
menta;and
(c) All pay:nenta mentioned in the two preceding subsections of this paragraph and all pay-
ments to be made under the note secured hereby shall be added together and the aggregate amount
thereof shall be paid by the mortgagor each month in a single payment to bA applied by the mort-
gagee to the following items in the order set forth:
(I) premium charges under the contract of inenrance with the FedEral Housing Commissioner, or monthly
charge (in lieu of mortga8e inaursnee pprery+ium), as the cafe may be;
(II) ground rants, taxes, asseaamenta, fire, snd other hazard insurance premiums;
(III) interest on the note secured hereb}•; and
(IV) a,tnortiutlon of the prin~ipai of said note.
Any deficiency in the amount of such aggregate monthly payment shall, unless made g;,od by the
mortgagor prior to the due date of the next such parVment, constitute ar, event of default under this mort-
gage. The mortgagee may collect a "late charge' not tc sxceed two cents (2¢) for each dollar ($1) of
each payment more than fifteen (16) days i*r arrears to cover the extra expense involved in handling
delinquent payyments.
3. That if tl:e total of the payments made byy the mar±gagor under (b) of paragraph 2 preceding shall
e>sceed the t<moun+'oi vtayments actually made by the mortgagee, for Around rents. taxes and assesGrnents
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