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Home My WebLink About1414-I • - o. ~. ~i~ c~ 50 SY. ~ ~!~iE C ~!tiTY. ~lA. 1'ax'VAl.ue I3ECEIV~, the ur~deryign~d promise(s) tc par t,o ATICO Flt-`ANCIAL CUt2P0[~.^,TION a corporation orgaiaised and existing under the laws of Delaware , or order, the principal sum of Fifteen thousand ~ No~100----•------°----------`-----~1~ (i 15,000.00 • • ),with interest from date at the rate of .five & one-quarter per oentum ( S-l~ll qE) per annum on the unpaid balance until paid. The said principal and interest shall be payable at the atlgce of ATICC FINANCIAL CORPORATION in Miami , Florida , or at ouch other place as the holder may designate in writintt, in monthly installments of Eighty two fNi 95100 Dollars ($ 82.95 ), commencing on the f;tst day of January . 19 63 ,and on the first ~iay of each month thereafter until the principal and interest are fully paid, ezrept 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 , l9 92. if default be made in the payment of any installment under this note, and if such default is not mrde good prior to the due date of the next such install-.[ent, the entity 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, and if the same is collected by an attorney at law, the undersigned hereby agree(s) to pay all costa of collection, including.a res~sonat~e attoraey'a fee. Presentment, protest, and notice are hereby waived. (~15.~0 State Documentar Stam s s Walter W. Er le (3ea1) Y P _ __ - --- af f fled to original note and ~ • - pTber Erg e cancelled.) s Anna Er le (::tai )_ ----~ __-----------g----------- ------ Anna Ergle And shall duly, promptly, and fully perform, discharge, execute, efteet, complete, 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 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 t=rue 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 ~) of the original princtpal amount thereof, except that in no event ahaII the adjusted premium exceed the aggregate amount of premium charges which would have been paayable if the mortr gage had continued to be insured until maturity ; such payment to be t+ppiied by the mortgagee upon its obligation to the Federal dousing Commissioner on account of mortgage insurance. 2. That, in order more fully to protect the security of this mortgage, thejmortsagor, together with, and in addition to, the monthly payments under the terms of the note secured hereby, on the drat day of each month until the said note is fully paid, will pay to the mortgagee the following soma: (a) An amount aufHcient to provide the holder hereof with funds to pay the nezt mortgage insurance premium if this instr~~ment 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 ao long as said note of even date and this instrument are insured or are reinsured ender the provisions of the National Housing Act, an amonnt sufficient to accumulate in the hands of the holder one (1) month prior to its due date the annual mortgage insurar_ce premium, in order to rovids such holder with funds to pa such premium to the Federal Housing Commissioner pazsnant to the National. Housing Act, as amended, and applicable Re~ulationa thereunder; or (n) It and so long ae said note of even date and this instrument are held b the Federal HonaiLg Commis- sioner, smonthly charge (in lieu of a mortgage Insurance premiurn~ whiel: shall be in an amonnt • equal to one-twelfth (~i'iz) of one-half ([i5) per centurrt of the avenge outstanding balanos due on the note computed without taking into account delir-quenciea or prepayments: (b) A sum equal to the ground rents, if any, next due, plus the premiums that will next becoaue 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 mortgages) 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 b~aRne delia~quett ;such sums to be held by mortgagee in trust to pay said ground rents, premiums, ta:cea, and special atssesa- ments;and (c) All payments 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 to amount thereof shall be paid by the mortgagor each month in a single payment to be app the mart.- gagee to the following items in the order set forth: (t) premium charges under the contract of insurance with the Federal HcusinR Cogtmi!siQner, or monthly charge (in lieu of mortgage insurance premium), as the rase may be; (tt [round rents, taxes, saseaements, 8[•e, and other hazard inauran.:e premtuma; (tt[~ ~n+.ereat on the note secured hereby; and (tv amortization of the principal of said note. Any defu•iency in the amonnt of such aggregate monthly payment P.i,n'ii, unlsas made good by the mortgagor prior to the due date of the next such payment, constitute an event of default under this mortr gage. The mortgagee may collect a "late charge' not to exceed two cents (2f) for each dollar (>)<1) of each payment morn than fifteen (lE+) days in arrears to cover the extra expense involved in handling delinquent payments. 3. That if the total of the payments made b • the mortgagor under (b) of paragraph 2 pr~e~ceding :;)lull exceed the amount of payments actually made buy ti;te mol-igagee, for ground rents. taxes and aaaeasmenta - :~~ ~. o: