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Home My WebLink About1316 ' . • • ~ i t~t ~ ? ~ i~ . PbR YAWi R~stYSq, the uAdeni~ned P~romLe~s~ to p~yr tb • t , . McCAUGHAN MORTQAGB CQlPAI1Y, IIiC. , ~ : . . . . • . a o~rporatioe or~sai~ed +~od e~tins undes the 4Mrs o! ~+lor~do . or order, ths principat aam a[ Traa thouoaad Four hundre~~ aa No/100 -------•~•----------~iy~ (t 10~400.00 )~wiW intereat irom date st the rate oiFivt d~ Ous-Quarter per aeatms ( 5~ 'i) pe~r tItRUlp OR tlle Iillpllid bi~itlOC iIA~I p~W. The said principsl and intereat slu~ll be pyrsbk at tha omoe oi ~ ~ McCAUGHAN MORTQAGE CQ~PANY, INC. ~ ~ in Coral Gablea ~ Flor id ~ ~ ~ ~ ~ ~ ~ ~ ~ ` hotder ms,y deaigzute in writin~ in monthly inst~tlments oi gif ty seven aud ~ Sl/100-----------•---.~ Dollua 57.51 oanmencin~ on the Srat d~y oi Marc~ . i865 , and : on the Rrat day oi euh mo~nth thereafter until the princip~l snd intetrest at+e inla? p~id. e~c~oept tl~at tbe finsl ~ p~?yment of the entin indebtedne~s evidenaed hereby. ii aot sooner paid. s6stt be dae aad p~,yable on tt~e tirst d~y of g'ebruary ,19 95 Ii default be ma~de in the p~ayment oi any installment under this no and ii aw:h defautt h not made ~ ~ood prior to the due date of the next such inatallment, the entire princip~ awn and aocnkd interest shaU at once beoume dne u~d pa~ysble without notice at the option oi tbe holder oi this note. Fail~ to eacea~ciae . this option ah:U not aonatitaite a waiver of the ri~ltt to e~cerciee the same in t~ eveat oi any snba~quent ~ defi?ulk In the event of defeutt in the payment oi thia note, snd it the same is eolledea by an atLotuey ~ at tsw. the nndersianed herebY agree(s) to p~y a11 costs oi collectio~, includir~s rea~saoabk attorney'a iea Presentmmt, p~+uteat, stnd notioe are hereby w~s~ved. . Walter A. ~ White (gEpl,) ' (State Documentery Stamps a , er e ' • ~ aff ixed to original note and cencelled. ) ~ ~ . _ o~. Elsie H. White (SEAI.~ Eleie H. White ~ ' And sh~II dab?. P~+~PvY. ~~14 P~ol'~. d~sCh+tre^e. e~cec~t~ eRect. oompiete. and compbr with snd sbide by each aad ever~ the atiW?l~?tions, ~ta,? conditions, and oovenants of said pe+a~n~aeoty note and of t6ie mortaa~ tl~ this mortgage und t4e est~?te hereby crested shall ee~se and be nWl apd v~oid. ' And the ~rk~a~o~ further ooveaants as followrs: ' 1. Thst he w~l p~ the iadebtednesa, aa hereinbefore pravided. Privile~e is reserved to p~ the debt in ~vhole, ~ in aa unount equat to one or more montiily pyrments on t6e priacipat thst sK nezt due on the _note, on the 6rat day of any monW prior to nwturity : Provided, however, tbst writtea notice a?f an intentioq to ezercise anch privilege is given at least thirty (30) dsya P~ ~ P~P~Y~t: snd. Pruvided ' : iurther. thst in the ~nat the debt is p$id in iuU prior to, matutity snd at that tinx it is insnred ander ~ the provisions oi the National Houaing Act, he wiU p~q ~to the mort~ag~ee an adjusted pc+esnium e6arae oi one per eentum (296) oi the original principnl amowit thereoi. except t6st ia no event s6aD the adjasted premium exeeed the asB~Bate amoaat of premi~un c6argea which wouid bsve bem payable i!' t6e n~ur~ gage h~d eontinned to be insured uutil msturitr; such payment to be spptied b~ t6e nnoitaagee upo~n its . obligation to the Federal Houaing Commissioner on s«auunt oi aartgage insnraao~ 2 Tbak in ord~r more inlly to protect the secucity of this morta~e. the a~o~ts~ar. toactber wit1+. snd in addition to. the menthly pa~?meats under the tern~s of the note sewred 6ereby, aa~ the 5rst dq oi each month nntl the s~id note ia fully paid, will pa~y to the mortgagee t6e idbwint anm~s: (a) An amoant au~cient to provide t~e holder hereot ~vith fnndn to ps~ the ne~ mortgag~e insuranoe premium if thia instrument and the note aecnred hereby are inanred~ or a mont6~y charg~e (in lieu of mortgag~e insurance premium) if they sre held by ttie Federal Hoaaia~ Co~mmiasioner, • aa follo~va : (r) Ii aAd io3ona s~ ~aid note oi e~a date and tbis instrnn~t sre i~nral or ars reies~ m~der tLe pm~iaions oi the Nstionsl Aousins Ael. an smonnt snmeient to aeeomolate ia t1~e 6ands ot tbe bo~ider ase (1) month pr'ar to I4 dac date the aanval mort~sss iuauaaoe premi~, in ozder to pe~ide ~ hoWer with iw~ds to pa snd~ premium to tbs Fedaral Hoo~int Coamaiaioaer paisoa~at to ttis Natioaal H Ad, at ame~ed, sud appikabls 8e~alatio~ tbereonder; or .(n) It aad~w loas s~ said note o! eva~ date aad this instrumeat sre bdd tLe Federal Hood~ C~osa~b- - ~ioaer. s aanthl~r~ ~~(ia lien oi a mortaa~e tnmranos prmeia~a~ wLieii a~aU be ia a~ amoast eqwl to one-twditi oi on~~alt ('K ) Per oeatmn ot tb~ a~e*a~e ootataadiat ba4noe dw a~ tbs ~ots mopnted witlwut Wdn~ into ~ownnt ddinqneneie~ or Prep?7mp?b: (b) A aum equal to the ground rents. ii any. next du~ pins the pre~nimns tLat w~l nest becon?e dne and ps,yable on policiea of tise u~d other ltszard inaurance euverin~ the mortgaaed pr+apert~, plus tsxes snd aasessanents next due on the mortga~ed PmPertY (aD as eatimsted by t6e mort~g~ee) kss all amns alrady p~id therefor divided by t6e number. oi months to elspee beiore p~ + to the dste when snch sc~ound rents. premiums, taxea. and asseas~nenta w~71 beoome ~ . snins to be hdd by mortgagee in trnat to psy asid Qe+ound renta~ Preminms. lasea. aod aPeeiai aaseas- ments; and _ ~ (e) All p~ym~ata mentioned in the !wo preceding aubsectioni oi this psraae~sph snd a11 pyr• . ments to be made nnder the note seeured hereby ahAU be added to~ether and the pt~~ amo~mt ~ tharso! ~haU b~ paid bp th~ mort,~a~or each moath in a stasle p,yment to be ap!p~l~ea af tirs nwart- ' sagee to ths idbwint it~as in ti?e ot+der aet iort6: . Pn~itw edrrs owder t6a ooatraet of famranos wltb t1w Federal Howi~ Co~riado~er. or a~o~tLb (h lka a~ mortsarc insann~ pranium) ~ as the ease aesr b~; ~e (o t~r+~p. taxM. ~ta.1~+. and otMr 6asard inwr~ao~ prd~r; . . m~ i~~ ~ pri~ oi ~s~iditote. . Any deliciene.7 in the ananAt oi snch ~~ate monthlypayn~ent aball, anlas a~ade ~ood b~ the aa prior to t6e dne date ot the next such ps~?menk constitnte sn eveut oi defanlt mider this mo~ . ~ ~age.~~ mortsatee m~T oullect ~"late char~e' a~ to exceed two oenb for ~ dollsr (=1) a[ ~ each pa~ynieat mo:+e thae Riteen (lb) days in arrears to cover the actrs e~s inv~ohred i~ bandlins ' ddinqumt ~b. . 1 8. 17iat if t6e total of the paymenta msde by tbe nart~aror unckr (b) of pa~rapb S p~neoedtn~ d~aD ` . exeeed the ~mount oi pyrments ~?ctwlly msde 6y ~e morttn~ee. tor greund reats. tuea aod ss~e~+mmb n~ ~ .8 11Q ~~r1i2 . ~ C~ U . ;