HomeMy WebLinkAbout0923FoR VALU>e Kscblvau, tho undersigned pr~rr-lac(e) ~ pay to ~ T, l1CIE C~l'NTY. ~LA.~ '~ ~ CS
SOUTHEASTERN MGR'1"GAGE COMPANY
~-, ,
a oorporatioa organised and existing ~ ~~,
r
the Isws of the State of Florida , or order, thg principal sum of Ninc thous f~` t,,J
five hundred and No/100 '- Dollars (i` ~ , 500.00 ), w ,~j
interest from date at the rate of Five & one quarter per centuia ( 5 -1,14 yF,) p~ <~ .
annum oh the unpaid balance until paid. The said principal and interest shall be payable at the oPtlce of'~•
Southeastern Mortgage Company, 1340 West Flagler Street •
in Miami , Floridet , or at a other place us !h°
holder may designate in writing, in monthly installments of Forty-seven b 4.1100 62
4.7,41 ), commencing on the first day of Laecem er , 19 ,and
Uollara (~
on the first day of each month thereafter until the principal and interest are fully pgid, except that the ftrtal
payment of the entire indebtedness evidenced hereby, if not sooner paid, shall be due and payable on the
first day of November . X9C 2(102.
If default be made in the pslyment of any inatullment under this note. and if such default is not mare
good prior to the due date of the next such installment, the entire principal sum and acetved interest shall
at once become due and pa; able withouk notice at the option of the holder of this cote. Failure to exercise
this option ells]! not constitute a waiver of the right to exercise the same in the event of any subsequent
default. In the event of default in the payment of this note, acid if the sane 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 v-•aived.
s~ Haven Leon Fenn (Seal)
($9.50 State Documentary Stamps •~-------- - -~ -~
ai;fixed to original note and Havert Leon Fenn
cancelled ~) -•-------------= -- - ----------------
_•s,~__Lola_-_4_,_ Fenn -----__---- tSeal )
• Lola U. Fenn
And shall duly, promptly, and lolly perform, discharge, execute, effect, cemplete, and comply with and
abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note
and of thin mortgage, then tl;~ 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 hereinbefo*e provided. Privilege is reserved to pay the
debt in whole, or in an amount equal to one or more monthly paymetas on the principal that are neat due
on the note, on the first day of any month prior to maturity: Provided, however, that written notice of an
intention to exercise such privilege is given at least thirty (80) days prior to prepayment; and, provided
further, that in the event the debt is paid in fall 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 (Iryo) of the original principal amount thereof, except that in no 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 appL'ed by the mortgagee upon its
obligation to the Federal Housing Commissioner on accosnt of mortgage insurance.
2. That, in order more fully to protect the security of this mortgage, the mortgagor, together with,
and in addition to, the mont:tly payments under the terms of the note secured hereby, on the first day of
each month until the said note is fully paid, will pay to the mortgagee the following sums:
(a) An amou-~% safficient to provide the holder hereof with funds to pay the neat mortgage
insurance premium if this instrument and the note secured hereby are insured, or a monthly charge
(in lieu of a mortgage insurance premium) if they are held by the Federal Nouaing Commissioner,
as follows
(t) If and ao lnng as b+si~ note of even date" and tttia ine:rvment ar+e insured or are reinsured under the
provisioza of the National Housing Act, an ariount euftlcient to accumulate in the panda of the holder
on? (1) month prior to its due date the annual mortgab-e insurance prett-ium, in order to provi3e such
holder with funds to pa ouch premium to the Federal housing Commissioner pursuant io the National
Housing ~ ct, sa amended, and appplicable Ite~ulations thereunder; or
(n) If and eo Iona as said note of even da.e and this instrument are held by the Federal housing Commis-
sioner, amar--thly char~~~~''ee (in lieu of a mortgage ineuranc+0 pre-mium) which shall be in an amount
equal to one-twelfth (ytz) of one-half (ti4) per centum of the average eutatarding balance due on the
note ;.::imputed without taking into account delinquencies or prepayments;
(b) A sum equal to the ground rents, if any, nex± due, plus the premiums that will next become
due and payable on policies of ftre and other hazard insurance covering the mortgaged property: plus
tares and assessments next due on the mortgaged property (all as estimated by the mortgagee) less
all sums already paid therefor divided by the number of months to elapse before one month prior
to the date when such groufid !•enta, premiums, takes, and assessments will become delinquent, such
sums to be held by mortgagee in trust to pay said ground rents, premiums, taxes, and special abseas-
menta;and
(c) All payments mentioned in the two preceding $ubsectiona 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 be applied by the mort-
gagee to the following items in the order set forth:
' (I) premium charges •e~aR' ttr contract of insurance with the Federal HOnainR Commiaaioner, or monthl~r
charge (in lieu of mortgage insaranc., premium), as the case may be; -
(tt) ~rcundsents, taxes, seaeajments, fire, and other hazard iraurance premiums;
(III) mtc+reat on the note aec~~rrd hereby; and
(iv, amortlra~tion of the princi, *1 of said na±e. -
Any deficiency in the amount of such aggregate rrtonthly payrr~r_-nt shall, unl~aa made good by the
motgagor prior to the due date of the next such payment, conatitato an event of default under this morE-
gage. The mortgagee may collect a "late charge' not to exceed two cents (24} for each dollar !~1) of
Each payment more Char: fifteen (15) days in arrears to cover the extra expense involved in handling
delinquent payments. - -
3. That if the total of the payments made byy the mortgagor under_(b) of paragraph Z preceding shall
- e~teed the amount of payments actually mgde by the"mol-tbdRee, for ground rents, taxes and ssaessme:tta
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