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Home My WebLink About2934 _ . - - . - a . ~ ' Fou Vi?i.va R~cstv~~ the underaigaed pramiee(s) to p~y to . ~ ATICO FINANCIAL CORPORATION ~ . . . ~ the luws of Deleware •~~~ntioa or~aised ~nd exiatiAg uAder _ , or order, the principsl aum of Eleven thous and . two hundred f iity and No/'100 Dollara (a 11,250.00 with inter~t from d~te at the rate o! Five 8ti ORe-Quarter per centum ( 5~ g6) per , annum on the unpaid belance until paid. The said princip~l ~nd iaterest shall be payabte at the ot~oe of ~ ATICO FINANCIAL CQRPORATION : ia Miami 1, Flor ida ~ or a~ other plaoe sa the ~ hotder msy designate in writing. in moathly InstaWnents of S 3~tty two and 21~00 `t Dollars (~62.21 cominencing on the tlrst day of Au,gust ,1864 , snd on the firet day of each month thereafter uutil the principal aad inter~t are fully psid, ezoept that the flna~l 1 I?x~?nt ot th~ ertire indebtedness evidenced hereby. if not aooner paid, shaU be due ~nd payable on the, ' fii~t day of July ;1994. : Ii default be made in the payment of any inatallment under this note. and ii such default ia not made ~ , g~ood prior to the due date of the next such inatallment, the entire principal aum and aocrued intereat ahall ~ ~ st once become due and p~ynble without notice at the option of the holder of this note. Failure to exerclse thia option shall not constitute a waiver of the right to Pacercise the same in the event oi sny subsequent ~ defaulk In the event af default in the payment oi this npte;-and, if the same is collected by an attorney ' at law. the undersigned hereby agree (s) to p~y all coats of oollection, includin& s r~asoaable atto*ney'a fee. ~ F Presentment, proteat~ aAd notice are hereby w~ived. . (State Documentary Stamps $/_,~ameB A. sm th SSF;s3.~ affixed to original note Jemes A. Smith - and cancelled. ) ~ ~ ~ - - ~ . ' e~ Zind a E_$ th ~ , I.inda E. ~'~onith F: . _ . And ahall da~y. P~Pt1Y. ~~Y P~o~. ~hsrge. execute, eSect~ oomplete. and eomply with and in ab~de by each sind every the atipulationa, agreements. conditiona. and covenanta of said pmmisaory note and of thiis mortgage, then this mortgag~e and tfie estate hereby created shaU cease sad be nuU and void. . And the mortgagor fiirther oovenanta aa followa; 1. That he will pay the indebtedness, as hereinbefore provided. Privilege ia reserved to p~y the debt in whole. or in an amount ~qual to one or more monthly p~ayments on the principal that are ne:t dus ~ on the note, on the ftrst day of any month prior to maturity: Pmvided, however~ that a?ritten notice of an intention to exercise such privilege is given at least thirty (30) days prior to pre ent • and, provided ~ further. that in the event the debt is paid in full prior to, maturity and at t.hat ~t is~inaw~ed under the provisions of the Nstional Housing Act, he will p~y to the raortgagee an adjusted preraium chatge of one per centum (1 ib) of the original principal amount thereof, except that in no event shall the adjusted ~ premium exceed the aggregate amount of premiwn chargea wl~ch wotdd have been payable it the mort- gag~e had oontinued to be inaured until maturity; such payment to be applied by the mortgagee upon its obUgation to the Federal Housing Commissioner on account of mortgage insurance. • 2. That, in order more fully to protect the secueity of this mortgage. the mortgagor~ together with, and in addition to, the monthly payments under the terms of the note secured hereby. on the 8rst d$y of each month until the said note ia fuUy paid, will pay to the mortgagee the foUowing suma: (a) An amount su~cient to prnvide the holder hereof with funds to pay the neat mortgag+e . insurance premie~m if this instrument and the note secured hereby are insured, or a monthly charg~e (in lieu of a mortgage insurance premium) ii they are held by the Fedeml Housing Commisaioner, as followa : , . . (i) If and w Iong as said note of even dste ~nd this inatruaient are insnred or sre reinanred w~der fhe provisions ot the Natfanal Aouaing Ack sn anwnnt ~n~dmt to aoc~mulate in the hsnds o! the lwlder one (1) month prior to its dae date the annoal mortgage insaranoe preminm, In order to prov;de apeh • holder with inAdr to psy iueh prernium to the Federsl Housing Coa~i~ioaer gntsasnt to tbe Nstionsl 8o~sing Act, as an~ended. and applieable Re~ulationi therenuder; or . , (II) Ii ~nd w long as asid note of even date snd th~s instrnment ~u+e held b the Fedetal Honsing Ooma~is- ' aioner. a monthly ehar ue e1 (yi:) oi on hali ( 3!e ) per cennsn ~iremiumi wtiieh shall be in an amonnt equsl to one-tw fth rag~e outstsnding balanee due on the note eompnted withont tairing into aa:o~nt delinqnenda or pzepsyments; ~ ~'(b) A sum equal to the gronnd rents, if any, next due, plae the'premiums that will next become due and paySble on policies o# fir~e and other hazard insurance c~overing the mortgaged property, pl~a taxea and aesea~ments next due on the mortgaged property (sll as estimated by the mortgagee) lesa all sums already paid therefor divided by the number of mcmths to eiapse before one month prior to the date when such gmonnd rents, premiums, taxes, and'~ssessments will be~wme deliaquent, such awns to be held by mortgagee in trust to pay said gmound~rents, premiums, taxes; and apecial asse~s~ ments; and - ~ (e) All payments mentioned in the. two preceding sub~ectiona ~i this paragraph and all - menta to be made under the note secured hereby ahatl be added together and the a te a u~nt ' thereof shalt be p~id by the mortQa~or ea~ch month in a aingle payn~ent to be applied the mort- gagee to the iolbwing iteras in t6e order set forth: (1) Praainm ehargea nnder tbe oontract of insnnaos with the Federal8oadng Coanmipioner, or montht~ c}~srga (in lien ot aartgage insnrano~ pranium). aa the ease m~?y be; (u)~o nd rent~ ts:es. a~ents, Si+e, ar~d other ha:ard insuranoe preaatnm~; . (m) intenst on the note seeared hereby; and (zv) awortixtion of the prindpal of Raid note. An,y deticiency in the amount of such aggrcgate monthly psyment ahall, nnle~as made g~ood by the ~ ' ma~prior to the due dAte of the next such pa~?ment, cqnatitute an event of default ander this morE~ - ~ payment m~than~yftiteen (Y6j ~daya ~'~n a~rr,ears to cove~r the ~(~t) fq~ each dollar (~I) o[ - delinqaent paymenta. ~volved in h~tndling 3. Th~t if the totul of the paymenta mude by themortgagor nnder (b) of p~tgraph 2 preceding aha11 ~ exceed the amou»t of payments sctually made by the mortgagee. ior Re~ound rents. taxea and aa~eaaments ~ _ . ~ ~ ' O.If. • . . ~ 92 rA~531 ~ r ~ - _ _ _ ..•~ryy. . _