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I+~O~t Vi?LtR R~v~ the naderaigned P~~(s) ~ D~tY ~ . .
BOaI~BY, IIARTII~G ~ BIGHT, I1~C. . '
the Lws ot 8t~te Of ]La7cyland , a corporAtioa organi:ed and exi:tin~ undar
. or rder. the principal aum o!
~~a~ Tsovs~, ~s av~ a~ oo/i.oo c= i5,9oo.00 ,
~Dt~I~Edt flORl ~it+@ it ~1e Tit+@ OZ iive ~ OnB~~~LtI~~ p@!' C811t1UR ~ 5~' ~I' ;
~nnum on the ~u?psid bslanoe BO(~I~Y~ H~TIN~ &I~aHT~ ~~~le at the of~oe of
~ ,Y Sau aaliie, Florida . or at such th/~er plue aa the ~
~~a8't ~ v~1g11~~@ ~ 1IV='l~. ~n n~nt~~y iAata~ent~ or r~axTY-sEVrx & 93f
lY0 ~ r~ ~
~ 87•93 commencing on the firat d~y oi A,pril ,18 64 , and ~
on the firat~d~y oi each month theresfter nntil the prlncipsl and interest are fulls? P~?~d, exoept that the flnal
paUanent oi the entir~e indebtedness evidenced hereby, ii not sooner psid, ahall be dne ~nd payable on the
~ ~ ~i? ~ Februar~ ,19 94. -
If defuilt be made io the p~yment oi any inatallment under this note and ii aucb deiault ia not made
tood prior to the due dste of the neat auch instaUmenk the entire principa~ aum snd ~ocrued inter~t ahali
st anoe beoome due and p~yable without nottce at the optioa oi the holder of this note. Failw~e to exercise
t~is a~tion ahall apt oonatitate a waiver of the rlght to exeraiae ths same in tbe evant oi any aubaequent
4 ~~~Ik In the event oi default in the payment oi thia note, and if the s~me is collected by w attorney
at l~w, the underaigned hereby agree (s) to pay ~tll oosts oi oollection, includin~ s reaaonable attorney's fee.
Preaentment, pmteat, and notioe are hereby w?~ived.
, ~ ~ . ,~s/
Qharlee B. _3ear8
~ . Ohaaclee B. Seare "r
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~ A~l a~a11 dn1T. ~1y
. and Per[orm. diseharg'e. euecut~, eSect. eo~aP~ete. and eomply with and ~
~ ~bidc by ~ch and ev~er~ the stipulations, agreemeats. oonditiona, and oovensnts of sa~d promiasory note
' and of this mor~s~, then this mort~tg~e und t~e ~e hereby c~ted a~ll oeaae aad be null and qoid.
And the mort,gagror ~urther oovenanta aa fallawa:
1. Tl~t he wiU pay the indebtedneas, ua her~eiubaiore provided. PrIvileg~e is reserved to p~y the
~ debt in ~vbole. or in aa amount equsl to one or inore monttay pm,,ymeata on the prindpal thst are nezt dne
on the note, on the firat day o! any month prior to mat.~rity: Provided, however, that wrltten notice of an
c
intention to e~cerciae auch privilege ia given st Ieast t6irEy (30) da,ys Prior to pre t; and, provided
~ farther, thst in the event the debt is paid ia fe~ prIor to, matnrity and at tiwt ~is inaured nnder
the proviaiona of the National Housing Act, he will pay to the mort~ga,~ee an adjusted premium charge of
one pez oentnm (1y6) oi the orig'uial principsl amount thereof, exoept that in no event shall the adjnated
Premimn ezeeed the ,~gregate amount of preminm charg~es which would have been payable i! the mor~
gag~e had oontinued to8 be iaaured wnt~ maturltP: su~ch payment to be applied by the mortgagee upan its
obligation to t~he Federal Housing Commissioner on aooount o! mortg~g~e inauranoe.
~ Thst, in order more fuUy to prntect the aecurIty of tliis mort~a,ge, the mortgagor, tog+ether witly
, and in a?~ddition to, the menthly paymenta under the terms oi t6e note secured hereby. on the first day of
each month unt~7 t6e aaid note is fully p~id, w~l pay to the mortgug~ee the folloaring sums:
(a) An amonnt aufficient to provide the holder hereoi with funds to pay the neut mo
inaurance Premium if thia inatrument and the note aecured hereby sre insnred, or a monthl,y ~ _
(in lien of a m+ortga,g~e inanrance premium) if they are held by the Federal Housing Commiaaioner.
as follows : • .
(t) Ii and so loag ~s said note of even date and this insttnment are insnred or srs reinsured ander the
~ prn~dons oi tbe National Howing Aet, an aaaon~nt sa9leieat to aoeomnL?te in t1~ hsnds oi tl~e bldes
' one (i) mon~tb prlor to ite due dste tha snnaal mo insnraaoe pre~aiua~, in ort~r Loprovide snch
holder with innds to pay aue]i premiam to the Federa2~ondri~ Coannissioner pox~auant to tbe Natioaal
8oudng Aet, u amended, and applieabls Re~aLtlons tlxra+mdes• or ~
(u) Ii aad au long as ssid note of even date and tius instramrnt ue he~d bs tbe Federal Honaing Commir
daner. a mont~Iy (in lien oi s mortgsg+e insnrwnos praninr~) whieh ahall be in aa amonnt
eqw~l to one-t~elith~j of one-bal! ('K ) Per centa~oi the averag~e a~ti-taading bslanee dne on the
note aompnted i~rithout tsking into aooouat ddinqaenda or prepaya~enb; -
(b) A aum equsl to the gronnd renta, if any~ next due, plns the pr~niaras that will aext beoome ~
dae and pe~?able oa policies of flre and other hazar~ insurance cov plps
_ tas~s aaaeasmenta next dne on the mort ed ro ~g ~e mortgaged property. plus ;
gag p PertY (aU as estimated by t6e mortgagee) less ~
ull snma y paid therefor divided by the number. of months to elapee before one month prior ~
to t6e dste when snch ground rents, premiwna, taxes. and assessments w?~1 become delinquen~ sueh
amns to be held by mortgag?ee ia trust to pay said ground rents, Premiuma, taxea, and special assesa-
ments; and ~
j (e) All paymenta mentioned in the two preceding aubaections oi this paragraph and all p~?• !
' menta to be made under the note aecured hereby shaU be added tog~ether and the aggregate amount
. t6er~cof ahaII be paid by the mortgag~or each month in a single p~,yment to be applied by the mort-
ra,~+ee td tke folbwing items in the or~er set forth: ~
(1) Pramiam ebssges nnder the oantraet ot insnranas with tbe Federal8oa~dns Co~amipioner, or montWy
~ e~ar~e (ia liao oi aartaa~e insunn~e pre~nia~m), as the•esse ma~ be;
(t[ ~runnd t+ent~ taxes, a~eats, !lre. and oiber basard insnraaee praminms;
(m wbt+es! oa tbe nots aecnrcd 6erebY; and
(r amortisatlo4 of the prindpsi of safd no4. ~
A~I d~tkienc~r in the amount oi auch aggrega~e monthly ~ayment ahsU, tmlees made g~ood by the
nxr~~prior to the dne date of the next such pa~men~, oonstrtute an event of ddault under this mort~
ei~ch p~ymant m~o~th~
fltteen~(16) dn~ys
i~n a~rr,eara t~o ~~the
ex~tra~ tor each dollar (#1) o~
ddinqaent paUrnneab. ~n~e invotved in handling _
8. T6st if the t~otal of the payments made by the mortgagor under (b) of paragraph 2 preceding ah~ll
e;eeed the amonnt oi paymenta a~,tually made~bq the mortgagee, tor ground rents. ta~ces snd aseea~ments
t , . . 0 R.
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