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Home My WebLink About1929 ~ . . _ _ , . . • ~ ~ i. • . . . i P~OR VALUS ~i(~V~r the l111~1'~ISDed pY"0~1ise(s) tA p~7 ~P : J. 1. KISLAK MORTCAGE CORPORATION OF FLORIOJI ~ . ~ a~rPoi'ation cr~anized and existint undes' ~ thel~wsoi tha State of Florida .~o~.~P~P~?lsumoi - - - • • - • • - FIFfEEN THOUSANO NINE HUNORED and no/100ths -----m~ 15,9~•~ interest iram date at the rate oi F! VE b ONE-FOURTH P~ ~ 5 1/4 9~'~ P~' ~ annum on the unp~d bzlanoe until p~id. The said prlncipal snd iaterest ahall bs p~1?sbls at tl~ oAbe o! ' 08LIGEE ' ~ Miami, Dada County. Flo~ida .oratsuchothetpLroessthe ' holder m~y desi~ute in writin~, in month~y installments of _ E 1 GHTY SEVEN and 93/ l 00ths ' Dollsra (i 87.93 oommendn~ on the 8rat day oi Apri 1_ .1864 ~~a s on the ftrst d~y of esCh nanth thereatter until the princlpal snd interest ars iwty Pat~. exoePz ~ iiw wwu f payraent oi the entire indebtedneas evidenoed hereby, ii not aooner paid. ahaU bs doe and p~yab~e on the ! , . flrat day oi Ma rch .19 94 • ~ ' Ii def~wlt be made in the payment of any instaUment under this no and it such defi~ult ia not made ! ~ood Prior to the due dste oi the next such instaUment, the cntire princip~ aum and ~ocrued intereat sha11 ~ st onoe beowne d~e ~?nd p~,yable without potice at theoption oi the holder o! thia note. Fa~ure to exercise ~ t6is option ahall not oonstitute a waiver of the~ t to ezerciae the a~me in the event oi any snbsequeat • defaulk In the event of default in the p~yment o~ this note. snd ii the asme is oollect~d by an stto ~ E st Lw, the underaigned herebY agree (a) to pay all oosb oi oollection. includin~. s reasonab~e attorney' ~ Presentment, p~teak and ~tioe are hereby wsived. , /s/.~ames W. Shepard James W. Shepard ; /~,/w~ri 1 ~he~nard , ~ Marilyn Shepa~d ~ And shall dul7. P~~i?. and Perlorm. e~cecute. eSect. cooapiete. and oompi~r wfth aod - sbide b~ e~ch anda~er~ e at€~w1~?tio~s. a~re~a~la~ o~on~~itiaas, aad oovetunts ai sdd ~nots } ~nd oi this mort~ t6e~ t6ia morttue and the estste herebY created shaII oease and be np~ nll and v~o~d. And the mo~tor inrther oov~ants as iolbwa: ' 1. ZLat he w~ p~y the indebtedneas. as hereiabgiore provi~ded. Prlv~eg~e is reeerved to pey the debt in whole, or in an amount eqnal to one or more montbl,y p~,ymenta on the prindpsl that sre nest dne ' on the note, on the flrat d~y of aqy month prior to msturity: Pro~vided, however. t~t written notive of sn intention to exercise such privilege is givea at least t6irtY (SO) dyra P~ior to Pre t. and, P='ovided inrther, thst in the event the debt is p~aid in fuU prior to, mstnrity and at thst m it is insur~ed under the provisions of the Nstional Housing Act~ he will p~y to the nartga,~ee an adjusted ~nium char~e ai i one per centum (1g6) of the original principsl amount thereof, euept thst in no event a6aU the adjusted premium euoeed the ,~gregate amount oi premium chargea which wonld h~?ve been payable if the mort- ~ag~e had continued to be insured until msturitY: suci? Pa~Yment to be sppiied by the mortga,~ee upon its ~ obligation to t6e Federal Housing Commissioner on sooount o! morttage insnranoe. 2 T'hat, in order more fuUy to protect thc secucity oi this mortg~ge, the mortgagor. together wi ~ and in ~ddition to. the menthlypaym ents under the ternis of the note aecured hereby. on the ftrat d~y~ . ~ch month unt~ the aaid note ia fuDy paid. will pay to the mortgag~ee the foUowing smns: . ; (a) An amount su~cient to pmvide the holder hereo! with fands to paY the nezt mort8~8~ inaurance premium if thia instrument and t~e note secured hereby are insured, or s monthly char8~e ~ ' (in lieu of a murtgag~e insurance pi+emi~m) ii they sre held by the Federal Houaing Ca~nmiasioner. as followa: . • (i) If and ~o bng u s~id note oi evm date and tLis instran~nt are insnred or ars reinsared n~der tLe pronsions oi the National Houains Aek an amoont saldda~t to a~oemm~lste in the hands oi tbe bolder one (1) month prior to its du~ dste the annaal~or~a~ in~ara~os preminm. ia order to~~r~e aoe~ ~ u ' bolder with innd~ to p~7 a_aeh premiam to ths Feaearsl-Hauin~ Coaamisda~er Du=saaat to ~s Nstiooal f ~ H~~ Aet, u smeode~, and spplk~?bls Re~nLtiaos tLerenader• or f ~ (n) If aad aolons u said note oi even date and thu indrnment srs befd ths Federal Houdna Commii- ~ sio~er. s mon ~ar~e (in lfen oi a awrtaaas iawranes premim~~ wLieh ~Aall bs in an amoant eqoal to one-~ oi one-half ('Xi ) Pa owt~ma oi tbe arerage onWandins balanoe dns ~ tbe nots aompnted ~rithont taloin~ into aoooant ddmqnendes a~ prepaymenb: - (b) A.nm eqwa to the gronna renta i! any, ne~ct ane, plna the preminms th,?t aill ne~ct beoo~ns ` doe sDd psyable on policiea oi 8re and other hassrd inanranoe oovering the mort8aeea P~P~Y. W~ ` ' ts~cea snd a~ta next due on the mortgaged property (aD as estimsted by the mortgag~ee) leas • i att stm~u a1~+~ady paid therefor divided by the number_ oi months to eiapse'before one month prior ; ~ to t6e date ~rhen anch grovnd renta. premiums, taxes, and aeseeaments will beoome delinqueat, auch snnus to be heW by mortgagee in trust to pay asid ground rents. Premiums. tazea, and apecisl aaeess- ma~ts; and ~ . (c) AD p~yments mentioned in the two precedin~ anbsectiona oi this psragraph and all pry ments to be made nader the note secured hereby ahall be added to~ether and the te amount ` thereoi sha~ be p~id by the mortgs,~ur each month in a aia~le p~yment to be s~d~ the mort- ~~ee to ths iolbwia~ items in tbe order aet iorth: (1)" pr~miam eharges ander tLa aontraet of insnrases wtth t~ Federal Hondns CoasmWoner, or mo~tbl~ ~ (in lien oi mortsa~a inwruw~ re~nium). as tbe ew ma~ bs; (n s~rent~. tasea. awerments, IIre,~ othar ~a~ard iaturanoe preminms; ' (m i~ terat on tbe aots aearred 1?ereb~; • (i1 aa~ortisation ot tbs prineipal of said sote. . Any d~elici~r in the anaqnt oi anch ,sggr~gste mOnti~l0r ~syment sbail, ~s made gnod b~ the prior to tLe dne dste oi the next su~ch ps~~neat, oonaatute sn eveut of defwlt under this mort- ~ mor~ee msY colleat a"lsts clharae" not to es~oeed-twb eenb (2~) tor e~d? dollsr (;1) at ~ ~ p~y~t mors than Qiteen ~lb) days in arresn to cwer tlre eztra esp~nse involved ia hsndlini ~ ; . delinqnent pa~me~b. ~ ; 8. T6at ii the totsl oi the payments mads by the mortaagor nnder (b) ot para~rsPls Z Preoedina ahaIl ; = ea~oeed the amount of. psyments actwlly made by tt?e mortgag1ee. ior ground rents. taxe~ snd asseaesneals ~ ! . . - . e.1! ~ . ~ ~ 578