HomeMy WebLinkAbout1015~~~~ ~0 oA~E3~8
Vii. i ~°~! - C,~N'Y, ' i_:~.
FoR rJAl.ue REC>/IVt:I~, the undersigned pr+-rnuelsti-~i-pay-to -
. Al~IEdICAN TITLE INSURANCE COMPANY
- , a corporation organised and existing under
the lr:ws of the State of Florida , or order, the principal sum of Eleven
thousand and No/100-------------"""-~ Dollara(i11,OOO.OO1/4 ),with
interest from date at the rtste of Five and one-quarter per centum i 96) 1?eT
annum on the unpaid balance until paid. The said principal and interest shall be payable at the otlwe of
E~lERICAPI TITLE -INSURANCE COMPANY ~ or at auclt other place as the
in 1`iiami, Florida
hulcler may d~signat.e in writing, in monthly installments of Sixty and 83/1LO
Dollars ($ 60 . $ 3 ), commencing on the first day of January , 19 63 ,and
oil the first day of each month thereafter until the principal and interest are fully paid, except that the final
payment of the entire indebtedness evidenced hereby, if not sooner paid, shall be due and payable on the
first day of December , 1992
If default be made in the payment of any installment under this note, and if such default is no% 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 the same in the event of any au'usequent
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 al! costa of collection, including. a reasonable attorney's fee.
Presentment, protest, and notice are hereby waived.
s/ John A. Monk (3ea1)
!' 1 ,.CQ Mate Documentary Stamps ~~ -~~~ 7i~ri~i •~iZ51'T1~- J
~:~ f i::ed to oribinal note arld _ ---------------- - -------------------------
~ancelled.) s/ Faye H. Monk (Seal-
Faye H ~ Monk
--- ------------------ ---------
And shalt duly, promptly, and fully perform, discharge, execute, ef[ect, complete, and comply with and
and of his mortgage, then thispmortgage and the estate herebyscre ted ahal cl ~eaosfe amend t renull at d 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
on the note, on the first day of any month prior to maturity: Provided, however, that wntten 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 (1 ~/o) of the original principal amount thereof, except that in no event shall the ad}uated
premium exceed the aggregate amount of premium charges which would have b°en payable if the mor~
gage had continued to be insured until maturity; such payment to be applied by the mortgagee po
obligation tc the Federal Housing Commissioner on account of mortgage insurance.
together :vith
2. That, in order more fully to protect the security of this mortgage, the mortgagor,
and in addition to, the monthly 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 at~he neat mortgage
(a) An amount sufficient to provide the holder hereof with funds to pay
insurance premium jf 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 Housing Commissioner,
as follows
(t) If and so long as said note of even date and this instrument are insured or are reinsured ender the
provisions of the National Housing Act, an amount auft3cien$yt aa~ ~n~~ ~n~ t~~r ~ Provide se h
one (1) month prior to its due date the annual mortgage'.
holder with funds to pa such premium to the Federal Houe,ng Commias,onee parauant to the National
Housing Act, as amended, and applicable Regulations thereunder; or
(tt) If and ao long as said note of even date and th,s inanautrance premium) twhFhahall beu ease sunount
sinner, a monthly char~ggee (in lieu of s mortgage
• equal to one-twelfth (ytx) of one-halt ('.S) per tentum of the average outst$t-ding balance due on the
ncte computed without taking into accrount delinquencies or prepayments:
(b) A eum equal *.o the ground rents, if any, next due,.plu~ the premiums that will next become
due and payable on policies of fire and other hazard insurance covering the mortgages property, Plus
taxes and assessments neat due on the mortgaged property (all as estimatEd by the mortgagee) less
ail sums already paid therefor divided by the number of munihs to elapse before one mcnth prior
to the date when such ground rents, premiums, taxes, and asa~amenta will become delinquent, such
sums to be held by r.rortgagee to trust to pay said ground rents, premiums, taxes, and aperisl asseaa-
menta ;and hand all pay-
(c) All payments mentioned in the two preceding subsections of this paragrap
meats to be made under the note aecE:red hereby shall be added toget eat t dbeltappl9ed atett-am o~
thereof shall be paid by the mortgagor each month in a single paym
gagee to the following items in the order set forth:
(t) premium thargea under the contract of insurance with the Federal 'rlonsing Coatimiasioner, or monthly
charge (in lieu of mortgage inQursnce premium), as the case may bt;
(i,i~ ,nte•Fat ontthe note ecured hereby;eendd other hazard ~nsurence prem,ums;
(tv amorti:.ation of the principal of said rote.
Any deficiency in the amount of such aggregate'monthiy'payment shall, unless made good by the
mortgagor prier to the due date of the next such payment, constitute an event of dfor ea h doliatrt($1) of
gage. The mortgagee may collect a"'.ate charge' not t:, exceer3 two cents (2¢)
each payment more than 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 2 precedin8 shall
'a exceed the amount of payments actually made by the mortgagee, for ground rents, taxes and assegxmentR
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