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' Pb1t VnLUE R~cBtv~ the uaderal~aed pt^omiee(s) to WY ~ '
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• - Sa~t2uastet~ Hcme Moo~'tg~a~ Com~ax~?' ~ .
; ~ . . a oorpor~?Lion or~nlsed aad euiatin~ under
the l~ws oi the 8tste o~ FLoarids . or order. the princip~l aum oi Fi!'teen 7hausend
6evea S~indred end Ao/1p0-----------------•---------- DoUan (i15s700.00 with
' intereat iran date at the rate oi Five and one-que?rter per oeotun? ( 5-1,~4 96) P~'
annwn on the unp~id b~lanos until W~id. The ~id prlncip~l and Interest shall be payable at the o~ius oi
Sov~theasteru Haa~a Mortg~ege Ca~s Post OPPice Bax ?50~ Rivereide Statiaa~
~ ia Miai ~ FlariBa . or at auch other plaoe as the '
; holder msy desigaate ia writing. in nanthly installments oi ffi~ty Six sad 82~1A0------------- :i
; Dollara 86.82 commencing on the flrat day oi September .19 64 . and
. on the firat day oi e~ch aionth thereafter until the principal and interest are fully paid. euoept that the flnal
~ payment of the entire indebtedness evidenced hereby, ii not sooner psid. alull be dae ~nd p~y~ble on the ,
Sist d~y oi August ,19 94. ~
Ii default be made in the payment oi any instsllment under this note sutd if auch detsult is not made
rood prior to the due date of the next such instaliment, the entire prinraps~ aum and aocrued inter~t shall
st a?ce become due and p~yable without notice at the option of the holder o~ thia note. Failure to exerciae
this option shall not oonatitute a waiver oi~ the ri~ltt to exercise t6e as~me in the event oi u?y subsequent
def~?ulk In the event af default in the payment of this note. and if the same is oollected by an attorney
st Lw. the undersigaed hereby agree (e) to pay aU costs oi oollection, includin,~.'a reasoaaWe sttorney's #ee. . .
i Presentment, protest, and notice are hereby waived.
_ ~s~ Willia~ I~. _ Gi]~atrick .
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~ And ahaII duly, promptly. and lnp7 Pe~'rorm. discharge. e~cecnte. eQect, oomplete, u~d oonnply wlth ~nd
l~ ~tbide by each and e~ter~ the at~pulstioas. agreemeats, condit~ons, and oovenanta oi aaid pmmissory note
and o! this mortg~tgc. then this mortgage and the estate hereby created shaU ceaae and be n~ilt and void.
And the mortgsgor fnrther covemunts as follows: ' . '
1. That he ~vill psy the indebtedness. as hernanbefore provided. Privilege ~s reden?ed to psy the
debt in w6ole, or in an amount equal to one or more monthly p~yinents on the principal thst are next due
, on the note, on the tirst day of any month prior to maturity : Provided, however. that written notice of an
intention to exerciae such privilege is given at least t6irty (30) daya Prlor to pre~nt; and. provided
further. that in the event the debt ia paid in fuA prior to, maturity and at that tune it is inaured under
the provisiona o~ the N~tional Housing Ac~ he will pay to the mortgagee an adjuated premium charge oi
one per centum (196) of the original principal amotwt thereof. e~coept that in no event shall the adjusted
' premium exc~ed the aggregate amount oi premium charg~es wluch would have been payabte if the mort-
~ gage had oontinued to be'insnred uutil msturlty; auch payrment to be applied by the mortgagee upon its
obligation to the Federal Housing Commissioner on scc:ount of mortgage insurance.
' 2 T6at, in order more fully to protect the secucitq of this mortSage. the mortgagor. tog~ether with~
! and in addition to. the mentlily pa~ments under the terms of the note secured hereby. on the flrst day of
j e~ch month until the said note is fully paid. wiU pay to the mortgagee tbe following sums:
; (a) An amount su~cient to provide the holder hereof with fnnda to pay the next mo~tgage
; inaurance premiutn if thia instru~en~ and th~ note secured hereby arre insyred, or a monthly charge
; (in lieu of a mortgag~e inaurance premium) if they are held by the Federal Houeing Commiesioner~
as followa:
(t) Ii and ~o bng as aiid note oi eva~ dwte aad this instrnment are in~nred or are ninsared nnder tLe
i~ provisions oi tbe ~Istional Honsing Aek an amonnt sufdcient to aocuranlate in tire hsnds oi the lwider
one (1J mottt6 prior to ita dne dste the aannal mortsage i~snranos preminm, in order to provide aoeh
; I holder with f~ads to psy s_nch premium to tbe Federal Sondns Commi~do~r pnrsuant to t6e Natlonal
i i $ousinR Act. as s~ded. and applia~bls R~e¢nlationa the~eundei': or
~ (u) Ii and_w bng ~s said note oi even dste snd tlus instrament are held by thg _Fede~Honsing Commis-
w
, ' • doner. s mon (in lieu oi a mortgage inmranes pr~aiw~) N3iieh be in an smonnt
~ equsl to one-~~ ~ oi onrhali ('K ) P~r oent~m oi tlie aversge ontdaadin~ bslanoe dus on tbe
: , i note eompnted taldng into aoeount ddinquende~ or P~Y~t+;
` { . (b) A sum equal to the ground rents, if any. next dne. plna tt?e pr~miuma that will neut become
due su?d payable on policiea of fire and other hasard. insurance c~overing the mortgaged property, pl~s
~ ' taues u~rd aseessmenta next due on the mortgaged property (aq as estiawted by t6e mortgagee) less
t ' sll awns slreadY Paid ther~ior divic~ed by the number_ of mantha to elapee before one month prior
r to the dste when such ground r~nta, premiums, taxes. and asse8smettta will beoome delinquent, auch
~i suma to be held by mortgagee in truat to pay eaid ground rEnta, preaniums, ta~ces, and special assess-
; T menta: snd
; ~ (e) A11 payments mentioned in the two precedin~ subsectiona of this paragraph and all pay
+ ments to be made w?der the note secured 6ereby ahall be added to~ether and tLe te snnount
t6ereoi shall be paid by the mort~s~or ~h month in a s~e paymeat to be the mort-
~ ' ~agee to t6e toUowing it~ma in • t6e order set lorth : . . .
~ preminm eLar~es ander tlis eoutraet oi insnranas with ti~s Federal Hoadn= Coamaiada~t. or monthl~
; (in liea oi aartaa~e insnrsnet premiam), as tbe eus mt~ bs;
~ ~ ; (u `~renta. tues, aresaaenb. Qre. ~nd other hasard fnsaraaee piaminm~;
~ ~ (m ~r tereat ~ tbe nots seenred bereby; and
~ ! ` (m a~aorti~tion oi the priadpal oi said note.
° ~ ~ , anless made ~ood by the
~ ~ Auy dericiency in the ninam~ o! such aggreSate inonthly .~syment sh~tll.
` ; mo prior to the due date oi the next auch pa~nnent, oonstatute sn event of defank under thia mort~ •
~ ~sQe,~~~ mortga~ee msy cuUect a"late chs~rge' not to eaceed two c~s?ts for each dollu (il) a!
` e~ch p~symeat more thsn ftiteen (16) days in arrears to oaver the extra ezpense involved in handling
~ s - - deli~qne~?t p~ymeats.
s j S. Tbat ii the total oi the paymenta made by the mortgaeor under (b) oi parssraph ~ preced~n8 ahaU
~ exeeed the a~wunt oi paymenta actwliy made by the mortgagee. !or gronnd rents. t,~xea aad aaseae~menb
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~bR~ 9~ fa~387
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