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HomeMy WebLinkAbout1718 n .. ~;J ~ 59 r ,~ct 31.5 .. \t L.,"CIE i(",~:l, ru..' F()~ VALUE RECEIVED, the underaiiroedi>t~V(a)to-p&y ~ ATICO FINANCIAL CORPORATION , a corporation organized and existing undel' the laws of De l.aware , or order, the principal sum of SE' ven teen Thousand & No/100 - . - - - - - - - - - - Dollars ($ 11,000.00 ), with intere8tfrom date at the rate of Five & one quarter per centum (5-1/4 %) per annum on the unpaid balance until paid, The !aid principal and interest shall be payable at the office of ATICO FINANCIAL CORPORATION in Miami, Florida :or atsuch other place as the holder may designate in writing, in monthly ilUltallments of Ninety Four & 01/100 _ _ _ Dollars ($ 94.01 ), commencing on the l\1"8t day of Hay ,19 63, and on the first day of each month there~fter until the principal and interent are fully paid, except that the tinal payment of the entire indebtedness evidenced hereby, if not sooner paid, shall be due and payable on the first day of April ,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 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, and if the same is collected by an attorney at law, the undersigned hereby agree(s) to pay all costa of collection; including. a reasonable attorney's fee. Presentment, protest, and notice are hereby waived. ($17.00 State Documentary Stamps affixed to original note and cancelled.) I ' , ..~lfX~ge-.!"~ck, W '_ Har<!eJ:\.'___um.(~pl) Frederick H. Harden I sjRo.be.r,ta.J.amHarden, CS.c:a 1 ) Roberta J. Harden And shall duly, promptly, and fully perfonn, discharge, execute, effect, c'''nplete, 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 ~ 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 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 maturit),; such payment to be applied by the mortgagee upon its obligation to the Federai 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 pl\Y 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 2. mortgage insurance premium) if they are held by the Federai Housing Commissioner, as follows: (I) If and 10 long as said nLlte of even date and this instrument are insUl ed or are reinsured under the provisions of the National Housing Act, an amount lIufficient to accumulate in the hands of the holder one (1) month prior to its duc date the annual mortgage insuranre premium, in oNer to provide such holder with funds to P&)' lIuch premium to the Federal Housing Commill8ioner punuant to the National Housing Act, as amended, and applicable ne~ulations thereunder; or (II) If and 80 long all said note of even date and thIS instrument are held by the Federal HousinK Commis- sioner, a monthly eha1"i'e (in lieu of a mortgage insurance premium) which shall be in an amount equal to one-twelfth (1/12) of one-};alf ("") per centum of the average outstanding balance due on the note computed without taking into account delinquencies or prepayments; (b) A 8um 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 aMessments 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 b€fore 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 assess- ments; and (d 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 aggregate amount thereof shall be paid by.the mortgagor each month in a single payment to be applied by the mort- gagee to the following items in the order set forth: (I) premium charr,u under the contrad of insurance with the Federal Housing ComrrJB!lioner, or mon(hly charge (in lieu of mortgage insurance premium), as the caile may be; (II) ~round rents, taxell, allellSments, tire, and other hazard insurance pN:ffiiums; (m) Interellt on the note &eCured hereby; and (IV) amortiz.ation of the principal of said note. Any defici~ncy in the amount of such aggregate monthly payment sha,lI, unless made good by the mortgagor J.lrior to the due date of the next such parment. constitute an event of default under this mort- gage, The mortgagee may cullect a "late charge' not to exceed two cents (21) for each dollar ($1) of 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 elceed the amount of payments actually made by the mortgagee, for ground rents, taxes and U58eSi'ment5 ,f'. , ~ ,,' 1-.: .~_ ) _~: ~ -",:,,::~~.,f..,-'.,6_._-...r. C.~,":~-".,:. ~-;._;''''';->r~'--'-~.'''..~''!'"_~'~~ _":. "... . - ,;'!'. ' . ~_;A.;.