HomeMy WebLinkAbout1049 . ~ ~ f
~R VAi.U~V1~, 11Rd0l~I~d pfi0mis0(i) ~0 pi, ~ ~ i
804I+S?~ 81~TI8a ~ BIaBT, I3~0• ~ ~
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fhe la~vs oi StBts 4t ]isrylBYid a0~°~tion or~anised and exiatin~ under ~
, or order, the prlncipal sum o! ~
Bll~s THOUS~D, 1~8 HU1~D ~ 00/1~.00 r? vou~ura (i 9 ~ 9~4• 00 wit~? ~
interest from date at the r:??ts of ~ivs ~ one~~otitrth per oentum t 5'~ 96) Per
~nnum on the unpaid balsn
BOf~~~ $ARTIN~ ~
HIa$T~~I1~C• shsq be pa,ysble st the o~oe oi ~
tn Sau t~allis Florids ~
~ ~ or ~t au other plaoe as the
holdet ntgy designste in writing, in month~y inataltmenta of ~'~'~-~'0~ ~?5 0~ ~ ;
(i 54.?5 oonanaeacing on the Rrat d~,y oi A,psil ,19 64 , snd` ;
on the Hrst day of each nwnth therPatter nnt~l the principal u?d interest are ful~y p~id~ exoept that the Rnal i
p~yment oi the entire indebtednea,s evidenced heteby, ii not so~ner pa~id. sl~U be dae and pzysble on. the a
rirat d~? oi Febstitary ,19 94 . ?
Ii defwlt be made in the payment of any i~stsllment under thia no ~nd ii aucb default is not made !
n
sood prior tfl the due date of the next such inataliment~ the entire princi aum and aocrued int~ere~st ahsU
st onoe becom~e due and pgyable without notice at the option of the 6older of this note. Failare to exercise #
thia op
tion ahall not oonatitute a waiver of the right Lo e~cerciae the aame ~a !he eveut of an,y subaequent
defaWt Ia the event of defsult in the p~ayment oi thia note, and if the suae is oollected by an attorney !
~t Lw,t6e undersigned herebY a8t~e(s) to p~y aU oosts of coUection. includ~n~,s i+~sonable attorney's iee. '
i
Pr~entment, proteat, and ~t~oe are heraby waived.
~
~ ~ s ?,ouie S. Storo]c ' ~
e . or -
- ~ ~
_ /e/ shirie~ Ann storo~ ~
~F'ifrl'ey~na ~oro~F-'^ -
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And ahsII du?~y. p~+o~?~y
, and lnl~ pertorm, dischar'ge. e~cecute, e,~ect, eomPlete. and oumP~j? wlth and ~
abide b~ ~ch unde~e~q the etipulstions, aSreementa. eonditions, snd eovenants o! said promissor~ note i
. and o! ttus mortg~e. then thia mort~age and the eatate hereby crest~d ahall cease and be null and void.
And the mort,~g~r furthar covea~nts as follows:
1. Tbat he wiD pa~y t6e indebtedness. as hereinbetore provjded. Prlvileg~e is reserved to p~a,y the '
' d~ebt in whole, or in an aanocuit equal to oae or nior+e month~y p~,ymeats on tbe princip~sl that are nest due _
on the note, on the 8rat d~y of any month ~irior to msturi~y: provided, however, t6at written notioe of an ~
inteation to exerciae auch privilege ia given at least thirtY (30) daya Prlor to pre~qment: and. Arovided
lnrther, tbat in the event the debt ia paid in fnlt prior to, maturIty snd at tbat t~me i~ is iaa~r~ed nnder i:
the provisioas of the Natianal Honaing Act, he will psy !o the mortgagee an ~juste~id preminm c,harge oi
one per centnm (igb) of the orig~nal principal amonnt thereof, except tlutt in no event ahall the adjnated
premium eseeed the~re te amount of premium chargea which would i~ve been payable if the mort-
gag~e had eontinned to be 'in~swred una'1 maturity; such pa~yment to be applied by the mortgagee upon its
obligattion to the Federal Housing Commiaaioner on aa~ount oi mortga,ge insurance.
2 That, in order mare fully to pmtect the security of this mortgag~, the mortg$gor, together wit~,
and in addition to, the menthly p~yments under the ternna of the note aecured hereby, on the ftrat da,y oi
e~ach month nntil the said note is fuIlY Paid. wi11 PaY to the mortgag~ee the folb~ving aums•
(a) An amount sufficient tfl provide the holder hereof wifh fimda to psy the nest mortgag+e
inaurance premium if thia instrument and the note aecured hereby are inaured, or a montbly charg~e
(in lieu o! a mortgag~e insurance premium) if they are held by the Federal Houaing Commiasioner,
aa follows :
(t) Ii and so long as said note oi evea dste and tbis instaenment are inwred or are reinsored onder the
provisions ot tbe National Hondng Aet, aa anAOnt su~ient to aoea~llte in tbe baads ot tl~e bolder
one (i) month prior to its due date the annnal aartg~s insassw~_
oe preminm. tn orikr to prw~ide st~h
Mlder witb iunda to pay suc}~ praninm to the Fede,ral-Honsin~ Commjuioner parsoaat to ZbE N~tionsl
H Aet, u smeaded, and applieab~s Re~ulations tbet~un~er• ur
(a) Ii and~glons as ssid note oi eveu dste aad t1w inrtramest sre be~d b! t6a Federal Handns Co~mis-
aaner. s mont~ly ~(in lien o! a aartgaaa insoranee premio:) wbich sball be in aa aa~onnt
equal to m~e-tweiith oi one~bslf ('K ) Per centum o! tl~e averaae oat~danding balanoe doe on tbe
note eompnted witho~ taking into aeooant ddinquencies or Prepf?7meats; -
(b) A anm equal to the gronnd rents. if any, next dne, plna the premimns that wi11 neat beoome
~due and p~,yabte on policiea of Rre snd other haza~rd inaurance oovering the mortgaged property, p1~s
ta:es +~nd aasesamenta next due oa the mortgaged property (all aa estimated by the tnortgagee) less
s~Il sums already paid therefor divided by t6e n~naber. of months to elapse before one month prior
to the dste when auch gronnd rents, prerainma, tauces, aad assessmenta wiU beoome detinquenk such
sams to be held by mortgag~ee in trust to pay aaid groeind renta. Premiuur~~as, tazes. aad apecisl aseeaa-
~o~nta; and
- {e) All ents mentioned in the two preceding snbsections o~ this paragzap6 and aU pa,y-
meata to be ~e
under the note secwred hereby ahall be added tog~ether and the te amount
t6ereo! s6sll be p~id by the mortgagor e~ch month in s sia~le pe~yment to be a~p~~ the mar~
~ s~ t~ t~ tono~ i~ o~ ~ io~: ~
i+~mn ehas~e~ nnder tbe eontraet oi insoranea witb tbs Federal Hoodna CommiadaanEr, or montbt~
(II ~ liau o! mortsate insara~s rrmiom). as t1~e eass ms~ ba;
(m) tend on tbe
n~ote ~
r~'sby~;°'a~ othar haurd insm+saee premiann:- '
(t~) anartisation oi tLs prineipal oi said note. -
A~? det~cienc~? in the amaunt oi such a~te monthly ~ymezet shall, ~aless made g~ood by t~ie
mor+t~r
prior to the dae dxte ot the next such pa~?ment, eonstitute an event of deisnlt uad~r this mort-
t~ge. mortg~gee may eollect s"late charge not to euceed Lao cents for each dollar (=1) at
each p~yment nare than flftee~ (ib) days in arresra to oaver the extn ezpense involved in handtin~ .
ddinqaent p~ymeats.
3. That ii t6e totsl oi the psyn?enta made by the mortgagor nnder (b) of paragraph 2 pr+eoeding shall
exoeed t6e amount of paqmenta actually made by the mortgagee, for qround renta. taxea iud aases~vnenb
°so"K 80. 3~9
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