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FOR VALUE R»c>3~1~1~[uK¢~~j$etI(p!'Amiae(s) to pay to
~aoa-u(;<x~ 1~a~zaea~e cf~~xY~ inc.
, a corporation organized and existing under
the laws of Stiate of Florida , or order, the principal aura of Twelve
Thousand Five Hundred and 00/100- - - -Dollars (~ i2, 500.00 ),with
interest from date at the rate of PiVe and One-fourth per centum ( 5~ ~/o) per
annum on the unpaid balance until paid. The said principal and interest shall be payable at the office of
;h!<cCAUGH~-N MORT~3AGE COMPANY, -INC.
- in COSal Gable e i FIOT1da , or at such other place as the
holder may designate ;n writing, in monthly installments of Sixty-nir.P and 13/100
Dollars ($ 69 • 13 ), commencing on the first day of January , 1963 ,and
on the first day of each month thereafter until the principal and interP.st 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
fit•st day of December , 19 92 •
If default be made in the payment of any installment tinder this note, and if such default is not made
goop 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 subsequent
default. In the event of default in the payment of this note, snd 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.
~s~ Rodr.e~_ F l.sher
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Rodney Fisher
~s1 Frances :i. Fisher
Frar:ces ir,. Fi s't~er
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And shall duly, promptly, and Tully perform, discharge, execute, effect, complete, and comply with and
abide by each and ever,,r 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 att 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 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 provisiena of the National housing Act, he will pay to the mortgagee an adjusted premium charge of
one per centum (1%) 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 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,
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 pxy 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 premium) if they are held by the Federal Housing Commissioner,
as follows
(t) If and so long as acid note of even date and this instrument are insured or are reinsured under the
provisions of the National Housing Act, an amount auftlcient to accumulate in the hands of the hdder
one (t) month prior to its due date the annual mortgage insuraner premium, in order to provide such
holder with funds to paq such premium to the Federal Housing Commiaaioner purauankto the National
Housing Act, as amendtd, and tipplicable Re~ulationa thereunder; or
(tt) if and so long tie said note of even date and the instrument are held by the Federal Housing Commis-
sioner, amonthly char~¢¢ee (in lieu of a mortgage insurance premium) which shall be in an amount
equal to one-twelfth (y~z) of one-half ('~S) 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
all sums already paid therefor divided by the number of months 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 asseas-
menta;and
(c) All payments mentioned in the two preceding subsections of this paragraph and all pay-
menta to be made under the note secured hereby shall be added together and the aggregate amount
thereof shall be paid by the mortgagor sash 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 contras o4 insurance with the Federal Housing Commissioner, or monthly
charge (in lieu oY mortgage inxurance premium), as the case may be;
(tt)? ground rents, taxes, aaaeasmenta, Rre, and other hassrd iaaurance prem-uma;
(ttt) ~ntereat on the note secured hereby; and
(tv) amortizaticn of the principal of said note.
Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the
mortg~gcr prior to the due date of the next such paivment, constitute an event of default under this mort-
gage. The mortgagee may collect a "late charge' not to exceed two cents (2¢) for each dollar ($1) of
each payment more than fifteen (15) days in arrears to cover the extra expense involved ill handling
delinquent payments.
3. That if the total of the payment8 made byy the mortgagor under (b) of pAragrap - 2 preceding shall
e>Tceed the amount of payments actually made by the mortgagee, for ground rents. taxes and assessments
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