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Home My WebLink About0289 - - - - . - - ~ _ ~ • . ~ Fae Vru.va R~vau. the undersiQaed promise(s) to p~y to ~ ATICO FINANCIAL CORPORATION , a oorpor~tion orgsnised ~u?d e~ciatin~ under ~ the tawa oi Delaware , or order, the principal aum oi S ixteen thousand eight hundred and !io/100 -------------------Dollara (i16,800.00 ).with intereat from dAte at the rate oi Five ~t One-quarter per centum 5} gb) per annum on the unpaid balance until paid The eaid principal and intereat shalt be payable at the oRioe of ATICO FINANC~p~, CORPORATION , in Miatni 1, Flor ida ~ or at sach other place aa the holder msy designate in writing. in awnfhly inatallmenta o! N ittety two end -90/100 Dollara (a 92.90 oommencing on the ftrs! day oi August .18 64 and on the first day of each month thereatter until the princip~al and interest ue fully p~id, except that the ftnal pxyment oi the entire indebtednesa evidenced hereby. ii not sooner paid, ahaU be dne and payable on the ; 8ist day of Julq .19 94. ~ If defnalt be made in the psyment of any instaUment under this note and ii auch default is not made i good prior to the due date of the next such instaUment, the entire princip~ aum and aocrued interest shall . at once become due and payable without notice at the option of the holder of thia note. Failure to exercise 1 thia option shnil not conatitute a waiver of the ri~ht to exertise the same in the event of any subeequent defaulk In the event af default in the payment of this note. and if the aan?e ia collected by an attorney st lsw, the undersigned hereby agree (s) to pay all coata oi oollect~on~ includiag, a reasonable attflrney's fee. ~ Preaentment, proteat, and notice are hereby waived. . , (State Documentary Stampa ef..__A~9#ri _p t~t _v (S~.et.) - affixed to original note Bea~rice McVey and cancelled . ) : i And sbsU duly, pramptly, and fi~ pertorm, discharge~ e~cecute, eRect. oomplete. and comply v~ith and sbide by each and every the stipufations, agreementa. conditions, and oovenur?ts of said pmmissory note ~ snd of this mortgage. then this mortgag~e and the estate her~eby cre~~ted shall cease aad be null and void. ~ And the mortgagor further covenants ast follov?s: , I. That he will pa,y the indebtedness. as hereinbefore provided. Privilege is reserved to pay the~ _i ; debt in whole. or in an amount equal to one or more monthly p$yments on the principal that are next due ~ ~ on the note, on the flrat day of any month prior to maturity : Provided. hawever. that written notice of an ~ ; intention to exerciae such privilege is given at least thirty (30) days prior to prepayment; and, provided further, that in the event the debt is paid in full prior to, maLurity and at that time it is inaured under the provisions of the National Housing Act, he will pay to the mortgagee an adjusted preinium charge o! one per centum (1~6) of the original principal amount thereof, except that in no event shail the adjuaf.~d premium ~ exceed the aggregate amount of premium charg+es which would have been payable if the mort- ' gage had continaed to be insured until maturitp; such payment to be applied by the mortgagee upon its obligation to the Federal Housing Commissioner,on aocount of mortgag~e inaurance. ~ 2. That~ in order more fully to prntect the secutity of this mortgage, the raortgagor, together with. ~ and in addition tfl. the monthly paymenta under the tetma of the note accured hereby, on the first day of eaeh month until the said note is fully paid. will puy to the mortgagee the following auma: (a) An amount suRkient to prnvide tlie holder hereof with funde to pay the neat mortgag+e - ~ insurance premium if this instr~ment and the note aecured herebp are insured. or a monthiy charg~e (in lieu of a mortgage insurance premium) if they are held b~ the Federal Housing Commissioner~ as follows : ~ (i) Ii and so long as said note of even dste and this instrnn~nt sre insared•or are reinsural einder the provisioas o! tbe National Ho~aing Aek an amount suflicient to aecwnnU?te in the handa of the holder ~ one (1) wonth prior to ita due date the annual mortgaae insunnos premium. in order to prnvide saeh ' bolder wtth tancis to pay~ ~premium to We Feaeral Honaiag Commissioner pursuant to the National Housing Aet„ as amead pp1ksWe Re~ulations thereunder; or ' (n) Ii snd eo long as aaid note of even date and tiua inatrament an hetd b the Federsl Honain~ Commis- sioner, a monthly c}iaig~e (in lieu oi s mortgage insuranoe ptanium~ wliieh ahall be-in an amoant ~ equal to one-t~Pelitl~ oi onthslf ('rfe ) per centum oi the ~verage ont~standing batanoe dua on the - . note computed withoat taking into tooount deliaq~u~eies or prepsyments; • (b) A sum equal to the ground rents, If atty, next du~ plna the premiuma that will next beoome . due and payable on ~olicies of tire and other haaard inaurance covering tbe mortgaged property. plus taxea and asseasments next due on the mortgaged property (aU as estimated by the mortgagee) Iese " ~ aU sums already paid therefor divided by the number of montha to etapse before one month~ prior to the date when such ground renta, premiume, taxes. and assessments will become delinquent, such s~rns to be held by mortgagee in trust to pay said ground renta. premiums. taxea, and special asaesa- menta; aad ' (c) All payments mentioned in the two preceding aub~ections of thia parag~raph and all pa,y- ments to be made under the note aecured hereby shatl be added together and the aggregate amonnt theriwf ahatl be paid by the mortgagor each month in a aingle pa,yment to be apph'ed by the morE- gagee to t,he iollewing items in the order set forth: (t) preaoinra charges nnder the oontract oi insnnuos with tbe Feder~l Honsins Commiasioner, or monthly ~ ehargs (in lien oi mortgage insnrsneee pre~nium), as the e~ws msy be: . (it ~oond rents. tazd, s~ments, lln. and other hassrd insnrsnoe premiums; , . (ut~ ni terest on the note ~eeural hereby; and (tv uaortisation oi the prineipnl of uid ~ote. Any detkiency in the amount of such aggregate montrilypa yment shsli, nnless msde good by the mortgagor prior to the due date of the next such pa~?ment, oonatitute an event of default under this mor~ . -g~ge. The mortgagee may cullect a late charge' not tfl exceed two cents (2~) for each dollar (#1) o~ each psyment more tluu? ~ifteen (ib) daya in arreara to cover the eztrs eupense involved in handling • ~ delinquent ps,ynients. ~ 3. That if the total of the payments made by the mortgagor under (b) oi paragraph 2 preceding ahaU ; ea~oeed the ~unount o# p~ayments actually made by the mortgagee. for groand rents. taxes and aesea~ments 4 i / ~ . ' 93 t~C~288 ~ , . ;