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Home My WebLink About0342 ~ BORK PAf E 1~~ ~ F~o~t VL?t.ue R~stv~ the undeni~ed promiae(a> to PaY to ` ; STOOa'lOx~ f81~7+3T~ ~lRt ~ OOILPj1Z ~ . a oorporatioa or~anise~ and eniatin,~ under ~ fhe laws oi Stat~ Ot llOrid~ . or order. ~he principsi sum o~ SIZTEB~ '1SOUSJ~tD. T~EB H~l~D ~ 00/100 - Dollus (i 16,300.00 with iatere~t from date at the rate of =iry ~ pIIw=O~~b per centum ( S} 96) per . annum on the unpaid balance until paid. The said principal and intereat ahall be psyable st the oflfoe of STOCHTO]~* ~SA'1'LS?~ D~YIg ~ 0O1~1tiR in Jaoluoa~ille ~?loride? , or at such other plaoe aa the holder may designate in writing. in monthly inetallments of g~M ~ 14~'1QQ ~ Dollara (i90•14 coma?encing on the Rrst day of t~bru8~y .19 64. u?d on the first day of each month thereafter until the principal and interest are fully paid. e~ccept that the tinal payment of the entire indebtedness evidenced hereby. if not sooner paid. ahall be due and psyable on the first day of ~Tantiary ,19 9~. ~ If default be made in the payment of any installment under this note, and if such default is not made ~ood prior to the due date of the next such installment, the entire principal sum and acctued interest shall st once become due and payable without notice at the option of the holder of this note. Failure to exerciae 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 ia collected by an attorney st law. the undersigned hereby agree (s) to paY aU costa of collection, includ:n& s reasonable attorney's fee. 'i Fr~sentment. protesk and notice are hereby waived. - , , ~ .~~j $dwar herle• s~rsnsoa ' ~ ~TwBr r es wane~' ~ ' ~ ; . ? I • S~i1~/ OII . s' . • , rir a y Sw4rieo~ . , " _ . ~ , And stuD duly. pronaptl,y. sund fulUr petform. dischsrge. execute. effect, uomplete, and comply with and j ! sb3de b~ ~ac6 and every t6e st~p~lations. agreementa. conditiona. attd covenauts of said promissory note f` ~nd oi this mortgaQe, then this mortga~e and the eatate hereby created ahall cease and be null and void I And the mortgagor fnrther coveaants as followa: 1. That he will paUr the indebtednesa, as hereinbefore pmvided. Privilege is reserved to p~ay the ' debt in whole, or in an amount equal to one or more montlily p$yments on the principal that are next due on the note, on the firat day of any month prior to maturity : Pmvided, however. that written notice of an intention to exercise such privilege is given at least thirty (30) daYe prior to prepayment; and. provided inrther, that in the event the debt is paid in full prior to, maturity and at that time it ia insured under the provisiona of the National Housing Act~ he will pay to the mortgagee an adjusted premium charge of i~, one per centam (196) of the original principal amount thereof, except that in no event shail the adjusted premium exceed the aggregate amount of premium charges which would hsve been payable if the mort- gxge had continued to be insured until maturit~•; such payment to be applied by the mortgagee upon its j j~ obligation to the Federal Housing Commissioner on account of raortgage insuranoe. ' i 2. That, in order more fuUy to protect the se~ucity of this mortgage. the raortgagor~ together with, ~ s a d i n a d d i t i o n t o. the monthl y p a y ments.under the terms oi 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 su~cient to provide the holder hereof with funds to pay-the next mortgag~e , ~ inaurance premium if thia instrument and the note secured hereby are inaured, or a monthlq charg~e R` ~ (ia lieu of a mortgage insurance premiwn) if they are held by the Federal Houaing Commisaioner. t ss follaa~s : ° ~ (t) Ii and eo long ss said note oi even date and thia instrument sre inanred or sre reins~red under the ~ ~ pmvisions oL the National Housing Ac~ sn ~mount su~eient to aceumulate in the hsnds oi the bolder ~ one (1) month prior to its due dste the annual mortgag~e iasuniroe premium. in order to provWe sueh ~ holder with funds to pay s~uch yremium to th4 Federal Aous~ng Commifsioner pnnwnt to the Nst~onal ~ Hoasiug Aet, as amended. and appliuble Re~uistiom thereunder; or n i (u) Ii and ao long as said note oi even dste snd this instrument sre held by the Federal $ousing Commis- i sioner. s monthly eha (in lieu oi s awrtgsge insaranoe premium) ~vhieh ahall be in an amonnt ~ equal to ono-twelfth oi one-hali (~ili ) per eentum of the average outstanding balanoe due on the . i note oompnted withoat taking into aocount ddinqaeneies or P~Y~v: ~ (b) A sum equal toithe ground rents, if any. next due, plna the premiums that vvill neut become 't dne sn~ pa~ysble on policies of fire and other hazard inaurance oovering the mortgaged property, plus tasea and assessments next due on the mortgaged property (all as eatimated by the mortgagee) less ~ sp sums already paid therefor divided by the number of munths to elapse before one month prior to the dste when such ground rents. premiuma~ taxes, and assessments will become delinquent. such ~ snms to be held by mortgagee in trust to pay said ground rents, premiunns, taxes. and special ssseas- ~ I ~ I (e) All paYmenta mentioned in the two preceding aub~ectiona of this paragraph and all pay- ' ments to be made under the note secured hereby shaU be added together and the aggre~ate amount thereoi shall be paid by the mortgagor each month in a sinQle psyment to be appL'ed by the mort- ' sa~ee to the iollowing items in the order set fort6: ~ (t) priminm ehar~es under the oontrart oi insnranos with the Federal Housina Commiaioner. or monthl~ eharge (in liea oi mort~age inwranec prmnium). as the eaae msy be:_ (n) tronnd renb. tas~s. a~ssmenb. Are, snd other basard inmr~nu prenuum~; ! (ut) iaterest on tl~e note ~eeured bereby; and . ; (1~) amorti:atioa oi tbe priAdpal oi said not~e. . , + A~ delkiency in the amount oi anch sBBreBate monthly psyment ahall. nnless made good by the ! ~agor prior to the due date oi the next auch pa}?men~ eonat~tute an event of default ewder t6is mort- ' ~~a~e.~~ The mortgagee may collect a"late charge' not to exoeed two cents for esch dollar (;1) o! e~ h p a y m~t more than fifteen (15) days in arres?rs to cover the extra ezpenae involved in hsndlin~ ddinquent py?nnents. ? . 3. Th~ if the total oi the paymenta made by the mortgagor nnder (b) oi paragraph 2 precedin~ shall ~ a~oeed t4t an~ount of vaymenta sctually made by the mortQsgee, for Rround renta. taxes snd assesamenta . ` O. R! • , ;?9. c~ ~ . _ . -