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Home My WebLink About1887 _+S/?f . .~~/~r~a~wW'~~ _ ' . , . . . , . • r-+-. FOR VALUS R~C8IVSD. the underaigacd promise(s) to pay to ` , , i ~ ATICO FINANCIAL CORPORATION ~ ' t oorporation organiaed and existing under ~ the laws of Delaware ~ or order. the principal sum oi Ten thousand eight ~ hundred f ifty and No/100 Dollara (i 10, 850.00 w~th ~ interest from date at the rate oi Five 8t One-querter per centum ( 5~' 9b) per annum on the unpaid balanoe until paid. The said principal and interest shall be payable at the oftlce of ~ ATICO,FINANCIAL CORPORATION ' ln Miami 1, Florida . or at such other place as the ~ holder may designate in writing~ in monthly installmenta of S ix ty end No~100 : Dollars 60.00 ~ commencing on the tirst day of October .1964 . and ~ on the 8rst day of each month thereafter until the principal and interest are fuily paid. except that the tinal ~ ~ p~yment of the entire indebtedness evidenoed hereby, if not sooner paid. shall be due and payable on the ~ 8ist d~y of September ~ 1994. ; If default be made in the payment of any installment under this note. and if such default is not made i j good prior to the due date of the next such installment, the entire principal sum and accrued interest shall i at once become due and payable without notice at the option of the hoider of this note. Failure to exercise ~ this option shall not constitute a waiver of the right to exercise the same in the event of any subsequent , default. In the event of default in the p~tyment of this note. and if the same is collected by an attorney : at law. the undersigned hereby agree (s) to pay all costs of collection, includin& a reasonable attorney's fee. ' t Presentment, protest, and notice are hereby waived. ( (State Documentary Stamps s/,.p~~xander J~ck~on Jarvis (SEAL) ~ . ~ affixed .to_ original note Alexander Jackson Jarvis and cancelled . ) ~ gf._~jp.~Qn Margaret Ta~y_j,g~_ (SFAI.) Helen Margaret Jarvis . ~ ~ ~ And ahall duly, pmmptiy, and tuDy perform, discharge, execute, effect, complete. and comply with and abide by each and every the stipulations, agreements. conditiona, and covenants of said promissory note and of this mo=tgage, then this mortgage and the estate hereby created shall cease and be null and void. And the mortgagor further covenants as fotlows: . ; . 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to pay the debt in whole, or in an amount ecZual to one or more monthly payments on the principal that are next due on the note, on the first day of sny month prior to maturity: Provided, however, that written notice of an intention to exercise such privilege is given at least thirty (30) days prior to prepayment; and, provided further, that in the event the debt is paid in fult prior to, maturity and at that time it ia insured under ~ the provisions of the National Housing Act. he wilt pay to the mortgagee an adjusted premium charge of , one per centum (1~0) of the original principal amount thereof. except that in no event shall the adjusted ' premium exceed the aggregate amount of premium charges which would have been payable if the mort gage had continued to be insured until maturit~ ; such payment to be applied by the mortgagee upon its obligation to the Federal Housing Commissioner on account of mortgage insurance. 2. That, in order more fully to protect the security of this mortgage. the mortgagor~ together with, and in addit~on to, the monthly payments under the terms of the note secured hereby. on the first day of each month until the~said note 3s-fully paid, wip to the mortgagee the following sums: ~ (a) An amount s~fRcient to provide the holder hereof with funds to pa~? the pext mortgage insurance premium. if this instntment and the note secured~ hereby are irisured; dr'a~monthly charge (in lieu of~ a-mortgage insutance pretriium7 if they are held by ~he°Federal Housing Cbmmissioner, as follows : (t) If and solong as ssid note of even date snd this instrument are insured or are reinsured nnder the provisions o! the National Housing Act, an amount su8lcient to accumulate in the hands of the holder one (1) month prior to its due date the annual mortgage insuranee premium, in order to pmvide auch • holder with funds to pay such premium to the Federal Housing Commiasioner pursuani to the National ~ _,Housing Act, as amended, and applicable Regulationa thereunder; or (tt) 'If and eo long as said note oi even date and this instrument are held by the Federal Housing Commis- ~ sioner, s a?onthlr >eha~e (in• lieu of a mortgage insarar?ee prtminm) •whuh shalt be in an amount equal to.one-twelfth (yS=) Qf one-half (34) pgr cenWm oi.the uverage out;tanding balanee dueon the = note computed ~without tak~ng into soeount deliminencies or pnpayments; • (b) A sum equal to the ground rents, if any~ next due. plus the premiums that will next become dne and payable ori policies of fire and other hazard insurance covering the mortgaged property~ plus taxes and assessments next due on the mortgaged pmperty (all as estimated by the mortgagee) lesa all sums already paid therefor divided by the number of munths to elapse before one month prior to the date when such ground rents. premiums, taxes, and assessments will become delinquent,.such ~ Sums to be held by mortgagee in trust to pay said ground rents. premiums, taxes, and speciai assess- . menta; and - ~ (c) Atl payments mentioned in the two preceding subsections of this paragraph and all pay- ments to be made under the note secured hereby shall be sdded together and the aggregate amount , thereof shall be paid by the mortgagor each month in a single payment to be applied by the mor~ gagee to the follewing itema in the order set forth: (t) preminm eharqes under the contract oi insvrance with the Federal Housing Commiesioner, or monthly charge (in lieu of mortgage insurance premium)~ as the case may be; (tt ground rents, taxea, assessments~ fire, and other hazard inaurance prenunma; (~1t; mterest on the note secured hereby, and _ ~tv) ,amo~#isation of the principal of said note. ' Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the _ tnortgagor p~ior to the due date of the next such pa~ment, constitute an event of default under this mort- The mortgagee may cullect a"late charge' not to exceed two cents (Zt) for each dollar (~1) of e~h~payment more than fifteen (15) days in arrears to cover the extra expense involved in handling delinquent payments. 3. That if the total of the payments made by the mortgagor under (b) of paragraph 2 preceding ahall eXceed the amount of payments actually made by the mortgagee, for ground rents, taxes and asses.qmenta D"Rt . , ~ ~ 6t1; ' ~ p ~ , 0. R. 96 PAGE 06 ; RO''K ~ . f_ . ~.a. -