HomeMy WebLinkAbout2718 .
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I~ot V~?t.us R~catvaq, the undersigaed promise(a) to ps,y to v~. ~
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. ' 3'1'OCK'1'ON i 1~18ATI~EY ~ DAY~i da C~II'ANY . ~
; ' ~ a oorpor~?tion orga?nized and e~dating under . ~
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the le~wa oi 3tate of P'lorida . or order, the priacip~l swn of ~
~ ~v8 ~ovsaxD ~t ~ oo/ioo - - - - - - - - _ • novara' ci i2,o5o.00 ~ ~te ~
; inter~at irom date at the rate of Five do oae-fourth per oentum ( 5} 96I per ~
anaum on the unpaid balsnce until paid. The aaid princip~l and iaterest sh~?Il be p~yable a! the o~oe of ~
~ STOtXT~t, b18ATI~Y, - I~VIN ds COrIPgNY . f
: in Jacksonv~Zle, Flor3.da , or ~t auch ot~her place aa the
holder m~y design~te in writing. in monthly instaWnent~s of ~i-3IX de 64/100 ~
DoAara 66.64 oommencing on the tlrat day of Auguat ,18 64 , snd
on the lirst dsy af ~ch month there~tfter unt.il the principal snd intet~t are iully paid. e:oept that the rin~l
p~yment of the entire ~ndebtedness evld~.~cd hereby, ii not aooner paid~ ahaU be dne utd p~yable on the
l3rst day oi July ,18 94 •
If def~tult be made in the p~yment an~y inatallment under thia nots and ii such deiault is not made
good prior to the due date of the next such inataUm~nk the entlre prlncip~ aum aad aocrued intere~t ahaII
~ - st once become due and payable without notice at the option oi the holder of t,~ia note. Failure to exercise ~
thia option aha?U not conatitute s waiver of the ri~ht to e~cercise the same in the event of ~r aubsequent
defaulk In ttee event of default in the p~yment of this note. and if the aame ia oollected by an attorney
~ st lsw, the underaigned hereby agree (s) to p~ay all co~ta oi collection, including, s reasonabte attwaey'a fee.
Presentment, protest, and notice are hereby wsived. ~ ~
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; sbide by each sad every e atipulationa, agreementa. oonditions. and oQVenants of aaid pz+omiasory note ~
! ~ad of t~hia mortg~ge, then this mortgag~e and the eatate hereby cre~tea ahal~ cease and be nvD and void. i~
' And the mortgagor iurther covenanta aa followa: _
~ . 1. That he w~! p~,y the indebtedness. aa hereinbefore prov~ded. Prlvilege fs reserved to psy the
debt in whole, or in an amount equal to one oF more montlily p~yments on the princip~al that are nezt das
; on the note. oa the first day oi any month prior to maturity~: Provided, however, that written notice of an .
~ . intention to exerciae such privilege is given at leaat thirty (SO) daya prior to prep~yment; and, provided •
j . turther. that in the event the debt in paid in full prior to, maturity and at tliat time it is insured nnder i,°
~ - the provisiona of the National Housing Act, he will pay to ~ the mortgag+ee an adjuiated. premium charge of
a ~ one•per centum (196) o
f t
he original princi p
a
l amouat t
hereo
i. except t
L at i
n no event s
h s
ll t
he ad,jus
t
e d
~ premium exaeed the te amount of premiumchsrges which woulc~ have been p~yable if the mort-
' gAg~ had oontinued to insured until maturity; such p~yment to be applied by the mortgagee upon its
j ~ abligation to the rederal Houaing Commissioner on e~ocwunt of mortgag~e inaurance. f`
~ ~ 2 Thak in order more fully to pratect the security of thi~s mortgage. the mortgagor, together wi~, •
~ and in adili~ion to, the menthly paymenta ander the terms of the note secured hereby. oa the 8rst day ot ~ ~
~ each month nntil the said nate is fully paid, will pap to the mortgagee the followIng sarns: , i;~
~ (a) An amount au~cient to prnvide the holder hereof with funci~ tA pay the neut mortgag~e ;
; insurance preanium i# thie instrument ard the note seecured hereby are iiusured, or a mont6iy chsrg~e
~ _ (in lieu of a mortgage insurance premium) i! they are held by the Fedeical Howing Commissioner~
aa followa:
I - (t) `Ii snd ~o long as said ~te oi ev~ date and t~is in~trnment ars insnred or ars rainsored under tba i;;
~ ~ pro~idoas oi the Nstionat Hoadng Ael, aa uiwnnt su~{eient to aoeamnlste in tbe haads oi tlie lwlder ~ i,
one (1) month prlor to ita due dsta ths annwl mortasge ins~u~anos preaoinm, in order to provide sveh
E ~ lwlder with innds to pay sa~h preminm bo the Federal Hondn~ Coaomiasionet pnrsuant to the National ~
~ . Ho~ Aet, u ameoded. and sppIieaWs tions tbennader: or
(u) Ii snd wlona u said note ot even date a~d~i
i~ra~nt ue hdd b~ tbs Federal Hondng Comm~
~ aoner, s monthIy~_ (in lie~n o! s mortgage inaursn~oe prmraiua) whieh ahall be in au amonnt
; eqnal to one-tw~ftk~) oi one-hali ( i~ ) P~r omtom oi t~e ayerag~e on~dsndia~ bala~e dns on Ws
~ aote eompnted withoat tsicing into aeeonnt ddinqnaades or P~7~w;
I (b) A aan? equal tfl the groand rents, ii any~ next dne, ptns the premiwna thst will neat beoome "
f _ dne and psyable on policies oi fire and other hazard fnsurance o~ver3ng the mortgaged property, glus
~ tauea and a~sessments neut due on the mortgaged prnperty ($11 aa estimated by the mortgagee) leas
~ all sums ulreudy paid therefor divided by t6e number. of months to elap~e before one month prior ~
~ to the dste when sueh ground rents, prerniums, taxea. and asaeasments wiD become delinquent, a~ch
: swna to be held by mortg~gee in truat to pay esid gmund renta, premiums, ta~cea, snd apecisl asseas-
ments; and -
' (a) AUpsymenb meationed in the two precediag subeections oi this p~uagraph and all~ p~y.
a
. inents to be made nnder the note e~ect~nd hereby shstl be added tog~ethar snd the te ~namt
' thereof ahall be p~sid b
i the mortgag~v~ each m~onth fn a single payment to be applied~ the morF
gsgee to t6e iollowing tcros in the o ~et orth:
! . (t) pre~nlam ebar~es ander tbe eo~traet of inwranes witb ths Federal Hoodna Caomnisdo~er. or montbt~
; . elia (in liw oi mortga,~e in~nraneesa pi+e~niam). as t1~s eass msy bt;
(n ~rmts. taucs. a~e~neats,llrs. t?nd ot6er ha:ard insuranoe preeai~; .
; (m tesest on the nots ~ecnred besebT: and -
' (nr amortitation ot ~he prindp~l c~ taid mte. ~
. Any deliciency in the amount oi anch aggregate montbly ~rment shaU~- nnle,aa made good by the ~
mo r prior to the due date of the next auch ps~ment, eonst~tuter~w event oi detsnlt nnder thi~-mort~ ~ ,
~age.~~ mortgagee may collectlb "late charge nat t~ e~coeed ~ eenb ior each dollar (;1) ot ,
a~ch pa,yment more th~n 8iteen days in uTeara to eover the e~ctr:t expen~e involved in hutdlin~
. delinquent psymenta. . - . .
8. Thst ii the total oi the p~yments msde by the mortgagor onder (b) oi para~eph S preoeding shall W~
. a~eeed the amount o! psyments actually made by the mortgagee, ior grovnd rents. t~es and ~ents
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