HomeMy WebLinkAbout2191 , _..r._.,.~-~ _
•
Pbt V!?i.us.R~v~, tlre un~denisoed praniae ( a) to py to ~ .
J. I. IISL~t ~GB COBp0~L1TIQ ~ FIA~DI •
~ , a oorporstion or~saised aod ezistinj nader ;
t~he law~ oi Stut~ o! Florids , or order, the principal wm oi i
T~ T~oos~UD, s1Z ~1D~ED FTFT? d~ 00/100 Douars (i 10,650.00 ~t~ _
interest iran date at the rate oi Five d~ aa?e•fonrtb per centum ( 5} 96 ) Per ~
annum on the unpaid bs4uoe antll psid The ssid priacipal aad interest ahaU be psyab~e st the oQioe oi ;
,
J. I. KISI.~S MORT(',AGE C08P08?TICN QF F?A:~IDu
~ ~ Hiaoi, Florida ~ or at anch other plaa as tbe i
holder msy ~iesignate in writing. iw n,nthly inataUmenta oi. FIFTY-EIGST ~c 89/100 '
Dollara (i 58.89 ~Anunencin~ on the flrst day of ~PBIL ~ 19 65 ~ and ~
on the firat day oi aich month thereaiter until the principsl and interest are fuUy paid, ezoept thst the flnal ~
payment oi the entire indebtedness evidenoed hereby. ii not aooner paid, ahall be dne aad paysble on the
firet d~y of MARCH .19 95• ~
Ii default be made in the p~yment of any inataUment under this note, aad ii such detault ia not made ~
~ood prior to t!?e due dste oi the next auch installment, the entire principal aum and sccrued intereat ahaII i
st once beoome due and p~qysble without notice at the optio~ of the holder oi thia note. Failure to exercise ~
thia option ahall not oonstitute a waiver of the t to exerciae the aame in the event of any aubaequent ~
~ defaul~. In the event oi default in the payment o this note, and if the same ia collected by an attorney ;
at Lw.the underaigaed herebY aBree(s) to pay all co~ts o~ collection, includin~ a reasonable attoraey'a fee.
~
Preaentment, proteat, ~und notioe are hereby waived. ~
. . . f
el E~ysond C. ~i s sen
B~a,ymond C. ~oea~ieseu
~ /s~ Matilda 4. ~hoenaisaea -
~ . ssen
And s6a11 da~. p~+omp~
. and lh14 Periurm. diechar~e. euecute, eSect, oo~uupiete, aad oompt~ with aad ~
abide by each andav~r~ the-atiPnlationa, agreementa. conditions, sad cov~ante of said promiaaory note
. aad of thia mortaa~e. t6m this mortgage and the estste hereby created shall cease and be nuIl aad void.
And the mort~a~nr iurther oovenants aa foUows :
1. 1~at he ~v71 pa~y the indebtedneaa, as herEinbefore provided. Priv~ege is reaerved to pay the
debt in w6ole. or in an ~no~mt equal to one or raore montlily paymenta oa the principal that are nezt dne
on the note, on the first d~r of any month prior to maturity: Provided, ho~vever. that ~vrittea notice of aa
intention to euercise such privilege ia given st least thirty (30)`daps Prior to P~P~Y~nt; P~~d~
further, that in the event the debt ia paid in full prior to maturity and at that time it is inaured uader
the provisions of the National Housing Act, he will pay to the mortgagee an sdjusted premium charg~e of
one per centum (lqb) oi the original principal amouat thereof, e~ccept that in no event ahall the adjnated '
premium exceed the aggregate amount of premium charges which wou3d have been payable if tbe mort- -
gsge had uontinued to be insured until maturitr; auch payment to be applied by the mortgagee upon its
obligation to the Federal Housing Commissioner on accauat of mortgage inauraace.
2 That, in order more fully to protect the security of thia mortgage, the mortgagor, together with,
and in addition to, the mentLly pa~m ents under the terms of the note aecured hereby~ on the first day of
each month unta'1 the esid note ia fully paid, will pay to the mortgagee the follo~ving aums:
~(a) An amount su~cient to provide the hoider hereof with fnnds to pay ~e nezt mortgag~e
inaurance premium if thia inatrument and the note secured hereby are inaured, or s monthiy charge
~ (in lieu oi a mortgsg~e inaurance premium) if they ar~ held by the Federal Houaing Commiaaioner.
sa followa :
(z) If aad ~o bng as said note of eva? dst~ sad tbis inrtram~ent ~rc insnred or are rciatnred nnder t2~e
f p~idons oi the National Honsing Aet, an aawunt a~dent to ioeamnLte in tbe haads ai tbe boider
~ one (1) manth prior to ib due date the aaanal mortgaae insnraaoe premiQm, ia order to pro~ide soeh
~ Mlder with funds to psp~
~pimium to tLe Federal Howing Commi~z paisaant to tbe National
R Houaina Aet~ as amdyd ppliesble Be~olstions tlieeeunder: or
~ ~D~ It aDd /O ~OII~ Y iild DOt! Ot !Y!D d:te snd th~s inst:nmeat uz bdd b~ tbe Federal Hoarina Commi~
sioner, q montbly ebsrq~e (in lien of a mo~tgage insnraaoe premiam) w~eh asall be in aa amonnt
~ eqnal to on~-twelitL ('Ks) ot one-halt Per emhmn oi the s~eraae oatsiandins baLnoe dns an tbe
note aompnted without tsking into aeeo~nt ddmqueneie~ or P~Y~~+; ~
~ (b) A anm equal to t6e gronnd rents, if any, next due. plas the pr~nin.ma tha# ~'ll next beoane ~
~ dne and psyable on policies oi flre and other hazard insurance covering the mortgaged property, plus
~ t~ea and aaeeasmenta nezt due on the mortga8~ P~PertY (a11 as estimated by the mortgag~ee) leas
~ a11 sums alrea~dy paid t6erefor divided by the number. of montha to elspee before one month prior
~ to the dste when such ground rents, premiuma, tax~, and as.~asmenta w~l beoorne deliaquent, auch
~ ~ snma to be held by mortgagee in trust to pay aaid ginund r~nts, premiums, taaces, aad special asseaa-
F . ments; and
F . (e) All psyanents mentioned in the two preceding aubeections of thia paragraph u~d all pay-
f inenta to be made under the note secured hereby shaU be added together and the aggregate amot~nt
thereof ahall be paid by the mortgagor each month in s aingie psyment to be applied by the mor~
F gagee to the following itema in the order aet iorth :
` (z) Pre~niam- ehsr~s nnder the eontraet ot insnraace witb tba Federal Hoaana Commisdaner~ oz momtbt~
~ ~ ebar~p (iA liw of mortgage insaran~s premium) ~ as tb~ ea~e ma~ be
~ (u troond reat~. ta:es, ~b, Sre, and other ~ard insarsaee prem~am~;
~ (nt ~ntendd on tbe note ~eeured bereb7: and
~ (n amorti~atioo of the ptinsipal oi said note.
~ ' An~ deticiency in the amonnt of such aggregste monthly psymeat ahall, anlees made ~ood by the
~ mort~a~r prior to the due date of the next such pa~rment, coastitnte sn event of defan}t ander this morG~
~ tage T6e mortgsaee m~? cullect a"late charge' not to e~cceed t~vo centa for esch dollar (i1) o[
~ each ps,yment aiore than fliteen (15) days in ureara to cover the extra ezpeiue involved in handlin~
ddinqumt P~Yme~nts.
8. 't'hat ii the total oi the psymenta m~We b the mortga~or nnder (b) oi paraaraph 2 pre~edin~ shaII
ee
~oeed the amount o! p~ymenta actually made y the aartQ~gee, !or qronnd renb, taues and aaaea~meat~
~ . e;,~~ 111 ~~cc-33~
_ _ -