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HomeMy WebLinkAbout2255 A - ~ ~ ..Y ~OR VALUB R~CBIVBD. Wido171Q118d prOtt118e(s) t0 P~Y ~ , , t ~?TICO FINANCIAL CORPaRATION ~ , ~ s corpontlon or~nised aad existi~n~ uader ~e ~WS ~ Delaware ~ ~ or order. the princtpsl swn oi Tetn thoueand eight hundred and No/100 ti L0,800.00 Wi~ ~ inter~t irom dAte at the rate oi Five Et One-Quarter per centum ( 5} 96) P~' . ' annum oa the unpAid baiance until puid. The esid principal and interest ahall be psyable at the o~ce oi ATICO FINANCIAL CORPORATION Miami 1, Flor id e , or At auch other p4~ce as the holder may deeignate ia writing, in monthly inats?ilments oi F if ty n itte and 7 2/100 Dollara (i 59.72 oommencing on the tirat c~y of October .19 64 ~ aDd on the flrst day of each month theres~fter until the principal and intereat srs fuUy psid, ezoept tiu~t the flnal payment of the entire indebtednesa evidenced hereby. if not sooner p~id. ahaU be due and payable on the fli~at day of September ,18 94. If default be made in the payment of nny installment under thia note. and ii such def~ult is not made good prior to the due date of the next auch instaUment, the entire prjnciFal sum and aocrued interest shaU at once become due aad payable without notice at the option of the holder of thia note. Failure to exercise ! this option ahall not constitute a waiver oi the right to exercise the aame in the event oi any subaequent ± defaulk In the eveAt of default in the payment oi this note. and if the same is collected by an attflrney ' st law, the undersigned hereby agree (s) to pay all costs of collection, includin& a reasonable attorney's fee. ' Presentment, protest, snd notice are hereby waived. - ~ (State Documentary Stemps .8~, S~ ~ ± i 'affixed to originel note prthur Cooper, a single adult, a/~c/a and cancelled. ) .__.M A. Cooper ~ . ~ ~ ~ , - ; ~ . ~ ~ - , ; And ahall dulY. P~At1Y, ~d ~Y Pe~Q~, ~b+~Se. execute, eRect~ oomplete, and coinply with snd ~ abide by ea~h aad ever~? the stipulationa, agreements. oondltions. and oovenauts oi said pmmissory note ' '~nd of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void. And the mortgagor fiurther covenants as followa: ; ' 1:- Thut he will p~r the indebtednesa, as hereinbefore prnvided. Privilege ia reserved to p$y tha ~ebt in whole, or in an arnount equal to one or more monthly payments on the principal that are next due on the note, on the flrst day of aqy month prior to maturity : Pmvided, however. that written notice of a~ intention to exercise such privilege is given at least thirty (30) days prior to prepayment; and, provided further, that in the event the debt ie paid in iull prior to, matnrity and at that time it ia insw~ed under ~ the provisions of the National Housing Act, he will p~y to the mortgagee an adjusted premium char8^B oi ane per centwn (1~6) of the original principal amount thereoi, except tl~at in no event shaU the adjuated ~ premium exceed the aggre8ate amount of premium charges which would have b¢en payable if the mort- - ~ gage had continued,to be insured until maturit3•; such payment to be applied by the mortgagee upon its ' obligation to the Fecleral Housing Commissioner on aecount oi mortgage insurance. 2. That, in order more fully to protect thc security of thia mortgage. tt?e mortgagor~ together with. and in addit~on to. the monthly paymenta under the terms of the note secured hereby, on the firat day o! ea~clt month unt~ t6e said note is fully paid, will pay to the morkgagee the foUowing sums: . ' ~ (a) An amount su~cient to provide the holder hereof with funda to pay the next mortgag~e ' insnrance premium if this instrument and the note secured hereby are insured, or a monthfy charge i= (in lieu of a mortgage insurance premium) if they are held by the Federal Houaing Commissioner, ~ ~ as followa : } (t) Ii and so long as said note oi even dste snd tbia inatrnment are insured or are reinsnred nndes tl~e provisioAS of the Nationsl Housing Ack ~~t suf6dent to aoeumulate in t1~e bands oi the 6older ~ ~ one (1) awnth prior to ita due date the ~anusl mostgag~e insursnos pnmium, ia or~er toprovide sueb , holder ~vith funds to ps~r such premium to the Feder~l Honaing Comtaissioner pnrsaant to the Nstional , Housing Aet, as sm~ded, snd applieable Re.~ulations tber~nader: or • (n) Ii an¢ w lon~ aa ssid note of even date and th~s instrament are heldb~ the Federal 8on~ing Commfs- . sioner, a montt?1yehsr~e (in lien ot s mortgsg~e insnranos pt+~niua~) wliich ahall be in an smonnt . ~ equal to one-twelith (~i:) of one-hsli ) per centam oi tbe s~erag~ oubtanding balan~e due on the note eompnted ~rit6ont taking into aooonnt delingnencies or prapsymenb; ; ~ (b) A suin equal to the groupd rents. if any, next due, plua the premiuma that will ne~ct beoome dne aad payable on policies of fire and other haaard inaurance covering the mortgaged property. plus ~ - taxes aad assessments next due on the mortgaged property (all as eatimated by the tnortgagee) less all sums alreadY Paid therefor divided by the number. of munths to elapse before one month prior ; ~ to the dste when such gmound rents, premiums, taxes, and assessments will become delinquent, such ~ ~ ewns to be held by mortgagee in trust to pay said ground rents. premiums. taxes, and special assese- : ~ ~ ~ mente; aad ~ ~ ~ ! ~ ~ (c) All paYmenta mentioned in the two preceding aubaectiona of thia paragraph and all pay- ~ ~ ments to be made under the note secured hereby shaU be added together and the a ate amoant ; y • thereof ahaU be paid by the mortgagor each month in a single payment to be appU~y the mort- ~ , gagee to the follewing items iti the order set forth : (t) Pr~ninm eharges under tbe oontraet o! insuranoe with tlie Federsi Ha~sing Commiisioner. or monthl~ ; " - - chsr~e (in lien of mortgage insnranoe Prrmium). u the tue msy be; ; ~tu ~ronnd rmits. taxes. a~eats. Sre. and other huard insaraaoe prea~inms; intereat on tbe note ~e~wred hereby; and • (tY~ aawrtization oi the prindpsl oi ssid mte. ` ' ~ ~ An,y deflciency in the amount of such aggregate monthly payment shsll. unless m~?de g~nod by t6e ~ ~ ' rao r prior to the due date of the next auch pa~rment, const~tut~ an event o! default under this mort- ~ ; ~age.~he mortgagee may cullect a"late charge' not to exceed two ~cents (2~) for each dollar (~1) o! - ~ each pqyment more than fifteen (ib) days in arrears to cover the extra expenae involved ia handlin8 ~ ~ deliaquent psymeats. . ~ i 3. That i! the total o! the payments made by the mortgagor under (b) oi paragraph 2 preceding ahaU ~ # e~iceed the amouat of payments actually made by the mortgagee, for ground rents. taxea and aseesaments ~ ( ~ j s ~ R: 96 rAC~ 454 ~ . ~ - BO~~R . . , _ ~ _ . . . .