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Fwt Yr?LVU R~~ the uuderaigned promiae(a) to p~,y tv ~
:~'1'OCK'1'CN~ T~TI,E7C~ IIAVIN do C0~'~NY !
~ . a corporation organiaed and exieting under ~
the lawa oi s~te of F].orida . or order. the principal aum o! _
Taz~ Tsovs~xD ~rsr & oo/~ oo - - - - - - - - nouara 23, 050. oo• wit~ ~
intereRt imm cLte at the rs?te of five d~ one-fourth per oentum ( 5~ g6 ) per 1
annum on the unpaid baldnoe until paid The aaid principal and intcreat shall be payabla at the ot~oe oi
Sl'OCKTCeT, Id~TI,ESC~ DdVIN & COk~1PANY ~ ~
~ Jaoksonville, Florida . or at auch other pl~oe aa the
holder m~y desigaste in writ~ng, tn monthly inatalimenta oi SLV~ITY-TWO E~ 17/100
~ollara (;72.1? commencing on the flrat d~q o! August ~ 19 64 ~ and
on the flrst daq of each month thareaftsr until the prIncipal and interast are fclly p~id, eaoept that the flnal
tira~d~ytof ~e Jtire indebtedness evidenoed hereby~ if not sooner paid. atull be due a?nd payable on the
u~y , is 9a . .
If def~ult be n~de~in the payment of any in$taUment under thia note, and i! such default ia not made '
good prior to the due date of the next such installmenk tha entire priac~p~l sum and accrued interest shall
at oace beoome due and payable without notice at the option ot the holder of this note. Failure to exercise
~ this option ahall not constitute a waiver of the rjght *o exerciae the same in the event of aay subsequent
~ defaulk In the event uf default in the paymeut of thia note, and if the aame ia coltectcd by an attflrney
at L~w,the underaigned herebY ~?8ree(s) to p~y all costs of oollection, includin~s reasonable attflraey's fee.
~ Pre~cn4nent, pretest, and notice are hereby w~tived: s,:
/s~ bert A. Kni~ht
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- -ls/ I~argaret Knight
- ' 8aace "
And sheII da~j?. Promp~y. aad lnl~y Pertorm. dischsrBe. execate. effect~ oomplete, and oomp~jr with and
~tbide by ea~ch unde~ery the stipulations. agrEements, conditions, and covenanta of said promissory note
~ and of thia mortg~; then this mortg~ge and the eatate hereby created ahall oease and be aull and void.
' And the mortgag~or farther cflvenanta as foUows: .
-1. That he w~l p~,y the indebtedneea, as hereinbgfore provided. Privilege is reserved to p~y the
dPbt in whole. or in an amount equal to one or more monthl,y p~ymenta on the princip~al that are neat due
on the note~ on the fl~rat day of any month prior to matnrity: Provided, however. that written notioe of aTt
~nt~ntion ta exerciae auch prfvilege is given at least thirty (3U) daya prior to prepayment; and, provided
fi~rther, t~t in the event the debt is gaid in full prior to, m~tturity and at that tia?e it ia inenred nnder -
the pmvisiona of the National Hoi~ing Ac~ he will pay to the mortgagee an adjusted premium charge of
one per oentnm (ig~6) of the originai principal amouat thereof. exoept that in ao event shall the adjusted
premium exceed the ~gre te amount of premium charges which wo~ld have been payable if the mort-
gage had cantinued toa eb in~sured until maturity; snch p~yment to be applied by the mortgagee upon its ~ `
obl gation to the Federal Housing Comnaisaioner on account•o! mortgag~e insuranoe. .
2. T6at, in order more f~illy to protect the security of t6is mortgag+e. the mortgagor. together with,
and in addition to. the menthly payments nnder the ternas of the note aecnred hereby, on the finst day of
e~ech moath ant~ the said ~note~is fully paid, wiU pay to the mortgagee the following sutns• •
~ (a) An amount aufficient to provide the holder hereof with funda to pay the next mortgag~e
inaarance premium if this inatrument and the note secured hereby are inaured, or a monthl~y charge
(ia lieu of a mortgag~e inaur~wce premium~ if they are held by the Federal Houaing Commisaioner.
aa follows : . ~
(z) If and ao long ss said note of ~ven date aad tbi~ i~nmeat are insural or srs reinsured nnder tbs
pru~tons oi the Nattonal $onaing Aet, sn amonnt sn~eient to aoeumulste in the kands of the holder
one (1) month prior to its dne dste tl~e ~nnnai mortgage insaranoe preminm~ in ordes to ~mv~ sach
holder with innds to p~ aueh premium to tbe Fedeiat 8onsing Commissioner pnraaant to National
Hoosing Aet, as a~ed, and ~ppliabb Re~nlstions thenander; or
. (n) If and so long a~r aaid note ot eva~ dste and tlus inshvment sre held tbe Federal Honaing Commis-
aoner, s montaily_ eba (in liw oi : mortgsge inanranee praniaa~ ~rhieh shall be in an amonnt
eqnal to one-twelfth of one-half ('di ) Mr eentnat oi tik sv~erage ontstanding bNsnoe dne on the
note oompnted withoat taking into aoeount delinqaweies or DnWqaienta:
~ -(b) A sum equal to the gronad rents, ii any, neat dne, plna the premiuma that will next become
due and p~ayable on poUcies of ftre and other hazau+d inat~rance covering the mortgaged property, plua
taxes snd a~sessments next due on the mortgaged property (aU as estinaated by-the mortgag~ee) less
alI anms already paid therefor di~vided by the ntunber of montha to elap~see beforE one month prior
to the date when soch ground rents, premiuma, taxea, and assessmenta will became delinquent, such
aums to be held by mortga,gee in trust to psy said ground rents~ premiums, taxea. and special asaess-
meLta; aud .
(e) AD payments mentioned in the two preceding aubsections of this paragraph and all pay
ments to be made under the note aecnred hereby ahall be added together and the aggregate amount
therEOi ahaD be paid by the mortgagor each rnont~ in s aingle p~,yment to- be appiied by the mort-
g~gee to the toUowing items in the order set forth:
. (l) P~ mn e~u~ nnder tLe contraet ot inaursaes with the Federal 8ondn~ Comm~iuim~er. or awntLly
~g~s (in lien ~mortaag~e ~ pi+uniam)~ as tbe ease mar be;
. (u aronnd re~ts, t~?x a~en sAd other hasard insaranee premiam~;
- .(m interest on tbe note tawred herebY: and
, . ~n' amo~isst~ oi the psineipsl oi said note. . .
Any deliciency in the amonnt oi such aggregate monthly ~ayment ahall, unlese made $ood by the
mortga~r prior to the due dute oi the next such pa~nent, ounstitute an event of detault nnder this morw
g~tg~e. The mortgagee may wltect s"late charge not to ezoeed two cents (Z~t) !or each dollar (;1 j o!
~ach p~yment more thaa ~iiteen (2bj dayra in srrestrs to caver the eatra eupense involved in handling
delinquent p~symenta~.
S. That it the tatatl oi the paymenta made by themartgagor under (b) oi psragraph 2 preceding shsll
~oeed tbe amount oi p~ymenta actually made by the mortgagee. for groun rents. tsxea and asses~tnenb
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