HomeMy WebLinkAbout1606 _ . _ . - _ _ ._J.._~ _ .
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FOR V/1I.tT! R~(~1YED. the un~des's~Ded pr'OIDtse(e~ to P~ ~ , :
~
ATICO FII~lANOIwL CO~PORATICN " . ' . . _ .
~ a o~r,poration or~anised sad existiu~ undei'
the lawa oi Dela~ran . or order, the prlncipal sum oi ~rettt~ t~to thawand
aix hnndred a~d ~10/~00 Do11~ra (i ZZ,600.00 i
intereat irom date st the rate oi F ivs - ona quartar 1~' `X' j
snnum on the unpedd bsl~aoe nnttl psid. The s~id principsl and interest ahaU be payable st the o~oe oi i
• ATICO FINAtiCIAL COxPaR,ATIO~i '
in Miati 1, Fl.orida , or at such ut,her pla~oe as the ~
holder mqy desigaate in writing, in monthly instaUmente oi Ona hvnds`ed L7ttuty lo~t~r and 98/`100 ~
Dollars (i 124.98 ~~8 on the ftrat d~r oi Jna~ . 1964 •~na ;
on the rirat dsy of each mcnth thereafter until the principal and interest are iuUy psid. escePt ttu?t the Rnal ~
, p~yment of the entire indebtedness evidenood hereby, ii not aooner paid. s2u11 be dne and psysble on the
tirat d~y of ~y ,18 94.
Ii deisult be msde in the paYinnent oi any inatsllment uuder this note and ii s~ch deiuilt is not made
~ood prior to the due date of tt?e next auch inataUment, the entire principa~ sum and aocrued interest shall
st once become due and pa~yable without notice at the option oi the holder oi this note. Failure to exerciae _
: this optlon ahall not constitate a wsiver o~ the ri~ht to exercise the same in the event oi uiy aubaequent
~ defaulk In the event af default in the p~yment of this note, and if the aame is ooll~cted by an attorney
st Lw~ the underaigaed hereby agree (a) to pey all eosts of oollection, inciudin~ a reasoaable attorney's fee.
presentment, pr~teat, and notioe are hereby ~sived.
(Stete Doeu~entary Stampa a~.Y~-S°~•*' ~ ~SSAi.;-
aPtixed to originel note and W. Carter as~ock .
cancelled.) ~
' ~ te R Brs~. [ at~T )
Marguerita R. Bro~k ~
And sbsII dulY. l~e'on?~r
. and tnlb periorm, ~sc6~ge. e~ce~wt~e. e~ect, oomplete, and eomply with and
sbide by ea~ch andeve~ tl?e atip~ilstions, agreements. oonditions. and oovenanta of said promissot'Y note
and of't6ia mortgag~e. then t~is mort~ge and the estate hereby crested shall cease and ~be null and void.
And the mortgugor fnrther covensnts as follows:
~ ~ 1. Thst he w71 pa,y the indebtedneas. aa hereiat~efore provided. Privi'leg~e is reserved to p~? the
debt ~n whole, or in an anwnnt equal to one or more monthly pm~1?ments on the principal t6at are next due
on the note, on the ftrst day of any month prior to maturity: Provided, however, that wrltten notice oi an
intention to exerciae such privilege ia given at leaat thirtY (30) daYs Prlor to prepayment; and. Provided
fnrther, thst in the event the debt ia p~aid in full prior to, maturity and at that time it is inaured nnder
the provisions of the Nstional Houaing Ack he will pay to the mortga~Bee an adl'~atecl Pr~miun? char8'e of
• one per centum (196) of the originsl principal amount thereof, e~ccept that in no event shall the adjusted
. premium exceed the agSreBate amount of premium charg~a which would hsve been payaa~e ii the naort-
• gag~e had oontinued to be inaured antil maturitr; such payment to be applied by the mortg.lgee upon its -
obligation to the Federal Houaing Commiasioner on aocount of mortgage insurance.
2 That, in order more fully to protect the security of this mortgage. the mortgagor~ `.oge~~er with,
~ and in addition to, the ment6ly paymenta.under the terms of the note secured hereby, on the firRt day of
~ ~ch month nnt7 the aaid note ia fully p~d, will pay to the mortgagee the following a~uns:
' (a) An amount sufticient to provide the holder hereof with fnnds to pay tha n~xt m~rtgag~e
insurance premium if this inatrument and the note aecured hereby are insur~. ur a r.:onthiy charge
(in lieu of a mortgag~e inaurance premium) if they are held by the Federal H~u3ing Commissioner,
aa follov?s : -
Ii and so bng as wid note ot even dats and thie inatran~ent are insured or ure reinaured nnder the
provixarw o[ the Nstional liousing Aet, an amount sufllciant to aceumulate in the h~L o! the }aide~
~ one ti) nwn~th prior to its due date the annuwl uartga8e insuranee prem[um. in order to provide such
~ mlder w~lh inads to p~y s_ueh premium to the Federal Howina Co~nunissioner pnrsuant to the NRtional
Hw~sin~ Aet, as am~ed, aAd iPplkable ~1~vons tbe~r: or
(a) Ii and w bna as said no~ ot e~ra? dste and ~nstrnmen! srs heW by the Federal Hondu~ Commir
` sioner. a mon;~y ~ar~e (in lien of s aartgsse inwranoe prm~iua~) whieh ahall be in aa ~uaonnt
~ equsl to one-t~welith (~1~js) ot onthsli ('~!i ) per eeatnm oi the ~verage ontstanding ba3:?nce doe on tLe
note oo~Pated witl~ont takina into aaount ddinq~eneks or P~Y~t+: .
t (b) A snm eqnal to the gronnd ren~a'„ ii any. next dn~ plus the premiums that wili next beoot~e
` dne and p~yrable on poGciea of ftre und other hazard insuranee eovering the mortgaged Property. Plus
; taacea and aseesaments next due on the mortgaged Pmperty (all as estimated by the. mortgagee) lesa ,
all aums already paid therefor divided by the nwnber. of months to elapae before one month prior
to the dste when such ground renta, Pre~niums. taxes. and assessri?eAts will become delinquent, such
~ san~s to be held by mortgagee in trnat to pay eaid ground rents, premiums, taues, and special ~ssesa-
, ~ meats; aad
~ (e) pIi paymenta mentioned in the tao precedin8 aabsections oi this paragraph and ail pay-
E menta to be ma~de under the note aecured hereby ahall be added to~ether and tLe aggregate amount
~ thereoi ahall be paid by the mortgag~or each month in a sin~le p~yment to be appL'ed by the mor~
~ gagee to t6e following itema in the order set io~rth:
t (t) prwaiam eharges ander t6e eontract of insnnaes with tbe Federal Hondn~ Co:nmi~doner, or nwntl?h?
~ e~a~e (in lien at mort~aae insnran~e pre.~ninm~~ ea~e a~sy be:
(tt ~ronnd renb„ ta~es, as~enb, Sre~ and oti~e insnranee preonimas;
r ~ (m~ interat a? tbe nots ~eenred hei'ebY: aAd
(n amort~ation oi ibs prindpal oi said aot~e.
~ An~ deliciency in the smonnt oi auc6 sgSre6ate monthly ~yment shaU, m~lees made S^ood bY the
~ mo~o
r prior to the dne dute of the next auch pa~rment~ eonst~tute an event oi defsult nnder this mort~
i pg~.- ~he mortgagee msy oollect a"late chur8e' not to exoeed two oents ior each dollar (il o~
ex~t p~
nt more thun fifteen (16) days in arreara to caver the extra eupense involved in hand~ing
~ delinqoe~t pq?ma?ts.
S. Thst ii the tfltal of the psyrmenta made by the mortp~or ande~r (b) of par~rsph 2 precedin~ sbaU
j e~oeed the amount ot usyme~nta actwtlyr made 6y the tnortlsg~ee. tor Rc+ound rents. taxes uid assesame~nt~
i ~ ~ ~0~~ 85 4d5
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