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Home My WebLink About0005 o R: 6~~~ 57 i ,~~[ 3 FOR VALUE Ri:(,"KIVJ:D, tile undersiJ1led promiae(.) to pay ~ S T. LUC[ C\.it-HY, ru, ATlCO fiNANCIAL COUlllA'1!OI1 , a oorporat.ion ol'pnizOO and t:x~8ting lindeI' the laws of Delaware ,or ordu, the pritlcipalsum of Twelv'! Thousand, Pive Hundred Il No/lOO --------- Dollara ($12,500.00 ),with inte\'t~!tt frem dau,t the rate of Five tl ODe Quarter P.1r ~ntum ( 5-1/4 %) p~r annum on the unpcid balance until ~id, The said pr.i.n~i~ and iuv-:reot ahall b<! p&yable !lot the office of AT!CO 1'1),.AlfOl~ oolUOltAnO'J in 'Miami, Flo~ida , or at such ether pla~e a& the holder may desi.nate in writing, in lIIDnthly hutaihnenta of. Sixty Mine 81 13/100 Dollal'8 ($ 69.13 ), commencing on the first day of March , 1363 ,and 011 the fil'3t day of each month thereafter until th(' principal and interest are fully paid, e)t:cept t.~~t !n.P. final lU\ymer,t of the entire indebtedness evidenced hereby, if not sooner paid, &hall be due and ptlyable on the first day of Fe.bruary , 1993 , If default be made in the payment of any insta11mebi ,Hider this note, and if such default is not made g-ood prior to the due date of the next such installment, the entire principal sum and accrue<l interest sh1'JI at once become due and payable without notice at the option of the holder of this note. Failure to exerdse this option shall not constitute a waiver of the right to exercise the same in the event of any subsequent default. In the e'..ent of default in the payment ot this note, and if the same is collected by an attorney at law, the undersigned hereby agree (8) to pay all COBU of collection, includi~. a reasonable attorney's fee, Presentment, prote8t, and notice are hereby \V..ived.' ($12.50 State Documentary Sti\DlpS affixed to original note and , cancelled.) 1 I ..~,.. ..I __ ft '-6...' 1 .,_.....~" (Cia 01 '\ /8/ Wl......L.LCILW ,..... 1..I~.a.""''''..J:o.......". ,....---... William F. Mullinnix - - -.. ._--.~.~---------- -----'-------".. ----------------- ------- - ---- .I.l_ll~Y_e.r.ls-~J1ulli.nnixn--.(Se.aJ..J... Beverly S. Mullinnix - .----- - ----. --------- .--- +---- ------------ -----------.-.----_. - ---- ---- - --- --- -- ----- And 3ha11 duly, pH)mptly, and fuUy perfo:m, m!Cha..-ge, ~x!'!'::ute, effed, ~ompl(>t.e, and compiy with and abide uy each anu cvt:ry 'tri€ otipulation3, agreement.g. condit!.~~e, e-~d ~o'!~:l~!1ta of ~~(l_ prQmi~~ory note and of thiR mortgage, then this mortgage and the estate hereby created shall cease and be null an~ void, And the mortgagor further covenants as folk-ws: 1. That he will pay the indebtedne&!, as hereinbefore proviae<!. PrivilEge is ..eserved to pay the debt in whole, or in an amount equal to one or more monthiy pa)'liicnts on the principal that are next due on the note, on th~ flt'!lt day of any month prior to maturity: Provided, however, that written notice of an intention to exercise such privilege is given at lea.8t 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 thc vruvhsion8 of the N..tional Rou:;ing Ad, he win P!!,Y to the mortg-flgee an adjusted premium charge of one per centum (1 %) of the original principal amount thereof, except that in no event sr.all the adjusted premium exceed the aggregate amount of premium chargea which would have been payable if the mort- gage had continued to be insured until maturity; 8uch paym..;.nt to be applied by the mortgag~e upon its 0bligation to the Fedel'Jil.l Housing Comminsloner on acc.ount of mortgage immrance. 2. That, in order more fully to protect the sec\.1,-jly of this mortgage, the mortgagor, together with, and in addition to, the monthly paym~nts under th.-, i~onn8 of the note secured hereby. on the Drst day of e!>.ch month ;,;nti! th~ :;..url note is fully paid, will pal' to the mortgagee the following sums; (a) An amount sufficient to provide tile holder hereof with fund5 to pay the next mortgage insurance premium if this instrument and Ule note secured hereby are insured, '.:r a monthly charge On lieu of c mortgage insurance premium) if they are held by the Federal Housing Cornmi88ioner, as follows: (I) It and 80 long Illj said note of even date l'.nd this instrument are inllured or are reinsureil under the provisions of the Natiollal Housing Act, an amount llufficieni; to accumulate in the hfjonds of the holde:" on~ (1) mOt"lth prior tc. it.!! due date the annual mcrtg~ i!!suraJlce premium, in orne!: to pr..::v;C:e li~\ch hvider with funcs to pay such premium tc the Federal Rousing (',ommiasioner pUl'1luant to the Nationsl Hou~ing Act, &s amended, and applicable ~lation8 thereunder; Of . (II) If and 10 long as said note of ~'!en date and thIS instr.Jment are held by the Federal Housing Commis- aiqner, a. monthly charge (in lieu of a mortg'&ge inlluf&nee premium) which shall be in an amount equal to one-twelfth (V12) of one-half (~) per ~'entum of th~ Average outatandir.g balance due on the !lote eomp.~ted without f"iting into a<<ount delinquenciell ur prepayments; (h) A sum equal to the ground rents, if any, next du~, plus the premiums that will next become due and payable on policies of fire and other hazard insurance covering t.he mortgaged property, plus taxes and a8sessmenu. next due on the mortgagw property (aU as estimated by the mortgagee) less all sum3 already paid therefor divided by the number of months to eiapse hefore one month prior to the datc when such groulid renta, premiums, ta."tes, and IlSsessments win become deiinquent, such Bums to be held by r.lOrtgagee in trust to pay SAid ground rants, premiurns, taxes, and special asse8S- menia; and (() Ali payments mentioned in the two preceding subsectiontl of this parRgraph and all pay- ments 10 be made under the note secured hereby shall be addc-d together and the aggregate 8..mQunt there9f shall be pcirl by the mortgagor each month in a single payment to be applied by the mort- gagee to the following items ir. the order aet forth: (I) premium ehnrge4 under the contract of inlluranee with the rederal IIousing Commil!8ioTler, vr m<;'lthly che.rge (in lieu of mortga.ge insuranCE: premium), &8 the case m.y be; (n) ftroend rents, taxes, as.seSliments, lire, and other haunc insurance prenllU;(lS; (m) If1terest em the new "",~ul-ed-heTe1y; .,ld (IV) B.!l1ortiUltio!1 of the principal of said nde. Any deficiency in the anlount of &t:ch aggregate monthly, paym'!nt 8hall, unless made good b:: the mortgagor prim' to the due date of the next such parment, con8~jtute an event, of default under this mort- K8ge, The mortgagee may coHect c; "late chnrgp.' not to exceed two cents (~) f01" each dollar ($1) 0( e~h J;a}'ment mere than fifteen (15) da)';; in IllTeare t.o cover the extr~ c;::p",.:;e i,,"yolvi::d ill }lalltHing delinquent payments. 3. That if the total of the payments macte by the mortgagor under (b) of paragraph 2 preceding shall e')"ero the an~ount of P3ymellts actually made by the mOi-~gc.gee, fur RTonnJ rents. t.axea and asscai<ments c' ---'. - . - - - -. ~ .+ ("a ~ J OJ' I - I . I I I I I I I 1 ~ _.-..__~_____,.....h_>..__-'-- "-----~---.. ._---_..----~-~~._--_. -----:-~ ..-...... ~ ,~. _ _.__..__~_......~..~ ~.,-~~ '~'''~l'III ~:..~