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Home My WebLink About0655 O.R, 57 e1:K fj.G[t)~~ "~OR VALUE RECEIVeD, the undenigned promi3e(s} to pay to ST. i lJC/[ C'liNTY. Fl A. AT1CO PINANCIAL CORPORATlOtt ' , a ccrporation organized and existing under the laws of Delal#are ,or order, the principal sum of Ten thou~and one' hundred & No/100--------------------- Doll~rs ($10,100.00 ),with interest from date atthe rate of Five & one-quarter pereentum (5-1/4 %) per annum on tile unpaid halanee until paid. The !Aid principai and intere&t shall be payable at the office of ArICO FINANCIAL CORPORATION in Miami I Florida ' or at such other place as the holder may designate in writing, in monthly ilutallrnenta oi Pifty Pive & 85/100 Dollars ($ 55.85 ), commencing on t.he first day of April , 19 63, and on the first day of each month thereafter until the principal and interest are fully ~id, exCt!pt that the final payment of the entire indebtedness evidenced hereby, if not sooner paid, shall be due and payable on the first day of March ,19 93. If default be made in the payment of any installment under this note, and if such default is not made good prior to the due date of the next such inst<illment, the entire principal sum and accrued int~rest shall at once become due and pay6hie without notice at the option of the holder of this note. Failure to exercise this option shsll not constitute a waiver of the ri&ht to exerci8e the same in the event of any subsequent default. In the event of default in the payment of thill note, and if the same i. collected by an attorney at law, the undersigned hereby agree(s) to pay all COlSta of collection, includina.a reuonable attorney's fee. Presentment, proteat, and notice are hereby waived. ($10.10 State Documentary Stamps /a/ David B. Lapond affixed to original note and n.....".vrcr B. Lal"ond cancelled.) (Seal) /./ Joan W. LaPond (Seal) '.-"'--J-oan W-:-LaFooo.- .-,., .________.__m______________ And 8ilall duly, promptly, and fully perfonn, discharge, execute, effect, complete, and comply witb 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 88 followa: 1. That he will pay the indebtedness, 88 hereinbefore ~;rovided. Privilege is reserved to pay the debt in whole, or in an amount equal to one or more monthly payments on th:l principal that are next duc on the note, on the first day of any month prior to maturity: Provided, howe-ver, that written notice of an intention to exercise such privilege ia given at leut thirty (30) daY8 prior to prepayment; and, provided further, that in the event the debt is paid in full prior tQ 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 %) of the original principal amount thereof, except that in no event shaH 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 W 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 tenns 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 8ums: (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 IllQrtgage insurance premium) if they are held by the Federal Housing Commissioner, as follows: (I) If llond 80 long as said note of even date and thil 1J'.ltrument are insured or are reinsured under the provisions of the National Housing Act, an amount luftleient to aceumulate in the hands of the holder one (1) ?,<>nth prior to ita due da~ the annual mort~ i!,lI'lr&nee pre!"ium, in order to provide ,such holde!' WIth funM to pa)' such premium to the Federal Houslnl' Conunl..lOner punuant to the National Housing Act, as amended, and liipplieable R-.gulationa thereunderj or . (II) If and 1IO long &5 said note of even date and thI. Irutrument are held by t.he Federal Housing Commis- sioner, a monthly ehar:Je (in lieu of a mortgage innr&JU:fI premium) whleh shall be in a!l amount equal to one-twelfth {1,h) of one-half (%) per centum of the average outstanding balance due on the note computed without t&k.ing inw aceount deiinqu'?ndt<: or prepaY.JI!.E!ntaj (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 an<\ other huard iJl8UranCe covering the mort~aged property, plus taxe3 and assessments next due on the mortgaged property (all &8 estimated by the mortgagee) less all 8ums already paid therefor divided by the number of months to elapse before one month prior to the date when such ground rents, premiums, tans, and aueuments will become delinquent, such sums to be held by mortgagee in trust to pay said ground rents, premiums, taxes, and special asse88- menta; and , (c) All payments mentioned in the two preceding sub8ections of this paragraph and all pay- ments to be made under the note secured hereby shall be added together and the aggregate amount thereof 8hall be paid by the mortgagor each nJonth in a single payment to be applied by the mort- gagee to the following items in tt.e (>rder set forth: (I) pr.!ll1ium eharges under the eontraet of insurance with the Fedel1l1 Houling ConmtlllSioner, or monthly charge (in lieu of mortgage Inllur&ne0 prem!um) , as "he ease may bej (II) ~lJnd rents, taxes, alJ8e3lImenta, fire, and other haurd insurance premlumJj (III) mterest on the note secured hereby j and (IV) amorti&ation of the principal of said note. Any de\lciency in the amount of 8uch aggregate monthly payment shall, unless mr.de good by the mortgagor prior to the due date of the next luch pa~ellt, constitute an event of default under this mort- gege. The mortgagee may wlle-ct a "late charge' not to exceed two cents (2t) for C2Ch dollar ($1) ol each payment more than fifteen (16) days in arrears to cover the extra expense involved in handling delinquent payments. 3. That if the total of the payments made by the mortgagor under (b) of paragraph 2 preceding shall eJSceed the amount of payments actually made by the mQrtgagee, for ground rents. taxes and aaseSl'J'nents (, , '.. t\ o , , ,