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Home My WebLink About1581 '!<'OR VALUE RECEIVED, the tlndersigned promise(s) to pay to r R. ~. ~ '- q.l~Cir C:'-lJh~r, 'LA . . ....a.. _ _ . _. . ,- (J . 0. ,,'~: 118 ATICO FINANCIAL CORPORATION , a corporation or~nized !lnd existing under the laws of Delaware , or order, the principal sum of -Twenty Thousand, Three Hundred 8& No/100 - - - - - Dollars ($ 20, 300~ 00 ), with interest from date at the rate of Fi ve & one quarter . per centum ( 5 -1/4 %) per annum on the unpaid balance until paid. The said principal and interest shall be payable at the office of AXICO FINANCIAL CORPORATION in, Miami, Florida . , or at such other place as the holder may designate in writing, in monthly installments of One Hundred Twelve & 26/100 Dollars ($ 112.26 )) commencing on the first day of Hay ,1963 , and on the first day of each mont)-. thereafter until the principal and interest are fully paid, except that the final payment of the entire indebtedness evidenced hereby, if not 800ner paid, shall be due and r~yable on the first day of April, 1993 . ' , .... 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 l'lUch 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 exerci&e 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 no4!, and if the same is collected by an attorney at law, the undersigned hereby agree(s) to pay all costs of collection) including. a reasonable attorney's fee. Presentment, protest, and notice are hereby w~ved. ($20.30 State Documentary Stamps affixed to original note and cancelled. ) ,.I~L Harold G. Kingwell Harold G. Kin~e1l (S_e.~l)_ /.s/uu.Hel.en_M...mi<i.niwe 1)......_.., (S_~a:U.. Helen M. Kingwell And shall duly. promptly, and fully perfonn, discharge, execute, effect, complt:te, and comply with and abide by each and every the stipulations, agreements, conditi.ms, and covenanta of said promissory note and of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void. ~~::~ ~~~ !"!"!'.:'~=~~~~ "'nrih~~ ~~u.onQntQ DQ fnllnu:a ~ 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 ~ maturity and at that timt! it is insured under the provisions of the National Housing Act, he will p."y to the mortgagee an adjusted prerr.il1m 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 paymenta 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 m(\rtgagee 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 se"ured hereby are insured, or a monthly charge (in lieu of a mortgage insurance premium) if they are held by the Federal Housing Commissioner, a8 follows: (I) If and IlO long as u.id note of even date and thi8 instrument are in8ured or are reinsured under the provision8 of the National Housing Ad, an amount sufficient to ~umulate in the hands of the holder one (1) month prior to its due dat,e the annual mortgage i!l8\lranoe ~re!fUum. in order to provide ,such holder with lunda to pay such premium to the Federal HOUSing CorroD.luloner pursuant to the NatIOnal Housing Ad, 1.8 amended, and applieable ~Iations thereunder; or (ll) If and IlO long U 8aid note of even date and thiS instrument are held by the Federal Housing Commis- sioner, a monthly charg-e (in liw of a mortgage insurance premium) which shall be in an amount equal to one-twelfth H'u) of one-half (~) per centum of the love rag<! ouutanding balance due on the note computed without taking into account delinquencies or prepaymenu; (b) A sum e<{dal to the srround rents, if any, next due, plus the premi'Jms that will next become due and pr.yable on ;>olicies of fire and other hazard insurance covering the mortgaged prorerty, plus taxes and a8se~ments next due on the mortgaged property (all as estimated by the mortgagee) less all SUInS 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 renta, premiums, taxes, and special asse88- ments; and (() All paymenta mentioned in the two preceding 8ubsections of this paragraph and all pay- menta (0 be made under the note secured hereby ghall be adeled together and the aggregate amount thereof shall be paid by the mortgagor each month in a single payment to be applied by the mOrt- gagP.e to the following items in the order set forth: (I) premium chargee under the contract of insurance with the Federal Housing CommiMioner, or monthly charge (in lieu of mortgage ir> .urance premium), as the case may be; (II~ puund re.nu, taxes, aNe83menU, ~re, and other haUlrd insurllnce premiums; (Ill mterest on the note leCured hereby; and , , (IV &ll1ortiutlon of the principal of said note. Any deficiency in the amount of such aggregate. monthly payment shall, unless made good by the mortgagor prior to the due date of the next such p&r.nent, constitute an event of default under this mort- gage. The mortgagee may collect a "late charge) not to exceeJ two cents (2f) for each dollar ($1) ot{ 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 by the mortgagor under (b) of paragraph 2 preceding shall e~cc-ed the a..mount of payment.! actuslly made by the mortgagee, for ground rents. taxel) and assell.'lments 0' - -~.::. -.. ,} ~