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FOK V ALliE I~E(,EIVEI>. the undersigned promise (s) to pay to
'i._~IC t L -:.-~~V, fL^,
BOGLEY. HAR'rING &:. HIGHT. n;o.
, a corporation organized and existing under
till' laws of S t:J te of fuuryland ,or order, tne principal sum of Eleven
Thousand EiGht Hundred and OO/lOO~ - - -Dollars ($ 11,800.00 ), with
i llkrest from date at the rate of five and one four th per centum ( 5t ~{,) per
allllum on the unpaid balance until paid. The said principal and interest shall be payab!e at the office of
BOG LEY . HA...l{TIliG & HIGHT, rlle.
in ~au Gallie. Florida ,oratsuchotherplacea~the
It,dlll'r may dei>ignate in writing, in monthiy installments of Sixty-five and 25/100-
()ollarg ($ 65. 25 ), commencing on the first day of MaJ' , 1963 ,and
oil lhe first day of each month thereafter until the principal and interest are fully paid, except that the final
paynwnt of the entire indebtedness evidenced hereby, if not sooner paid, shall be due and payable on the
first day of :.larch ,19 93 .
If df'(au\t be made in the payment of any installment under this note, and if such default is not made
gllOd prior to the due date of the next such installment, the entire principal sum and accrued interest shall
at once hecome due and payable without notice at th~ option of the holder (\f this note. - Failure to exercise
this option shall not constitut~ a waive!" 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 undensigned herehy agree(s) to pay all costs of collection, including. a reasonable attorney's fee.
Presentment, protest, and notice are hereby waived.
~tdte document3ry stamys
':.:ffixed to the orie;inal
:.ote :J.nl cancelled.
la,L_J_illll.e..a B...._ _KWm--._-.Jr...._ _________. _______
James B. Kuhn. Jr.
/ sJ__KathrynJ\! ...K~bJL __.__._. _.______._
Kathryn K. Kuhn
And shall duly, promptly, and fully perform, discharge, execute, effect, complete, and comply with and
abide by each and every the stipulations, agreements, conditions, and covenanls 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 undel'
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 cr.arges 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 orde!" more fully to protect the security of this mortgage, the mortgagor, together with,
anri in addition to, th~ monthly payments under the terms 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 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, 01' a monthly charge
(in lieu of a mortgage insurance premium) if they are held by the Federal Housing Commissioner,
as follows:
(I) If alld so lonK as 3aid note of eyen date and this instrument are insured or are reins1Jf('{! under the
provisions of the National Housing Act, an amount sufficie.nt to accumulate in the hands of the holder
one (1) month prior to its due dat: the annual mortgage insurance premium, in order to proviae such
holder with funds to pay such premium to the Federal Housing Conunissioner pursuant to the National
1I0usinK Act, as amended, and applicabie Re$'ulatior, thereunder; or
(II) If and so 10nK as gaid note of even date and thiS instrument are held by the Fl.'deral HousinK Commis-
sioner, a monthly char~ (in lieu of a mortgage insurance premium) which shall be in an amount
Cllual to one-twelfth (1/\'. of one-half ('h) per centum of the averaKe outstanding balaace dUQ on thl'
note computed without taking into account delinquenciet' or prepaymen~s;
(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 and other hazard insurance covering the mortgaged property, plus
taxes and assess:nents 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 before one month prior
to the date when such ground rents, premiums, taxes, and assessmellts will become delinquent, such
sums to be held by mortgagee in trust to pay said ground rents, premiums, taxes, and special assess-
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 aggregate amount
thereof shall he 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 .:harKes under the contract of insurance with the Federal Hou~ing Commillsioncr, or monthly
charKe (in lieu of mortgage insurance premIum), as the case may be;
(II) Kround rents, taxes, aaussments, firE, and other haJ.8Td inlunnce pNmliums;
(III) interellt on the note secured hereby; and
(IV) amortiUition 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 parment, constitute an event of default under this mort-
gage. The mortgagee may collect a "late charge' not to exceed two cents (2f) for ea.ch dollar ($1) or{
each payment more than fifteen (15) days in arrears to (;over the extra expense invoived in handling
delinquent payments,
3. That if the total of the payments made by the mortgagor under (b) of paragraph 2 preceding shall
e~ceed the amount of payments adually made hy the mortgagee, for Kround rents. Laxes and assessments
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