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F~! VALUS R~Y~ ~14 Y~~~1f~ ~R~O~~~ ~O ~Y ~ ~
J. I. [YSL~ I~OiRfiGIGIC CO~RlTIQ1 ~ I~LQRT~?, .
corpo~r~atian or~tni~d itnd existin~ under
the 1~?r?s oi !{l~ts af ?lorid~? . or order, the princtp~l wm oi '
:~i ~ ~a dl ~IZ~~...~r.. DO~~i~B 7f~~~~ ~?~~l
interest fran date st the nte o~t Fi~s ~ oa~e-tourth P~ ( 5} 9b) P~ ,
annum on the unpwid b~lsaoe unt~l p~id. ~'!ee ssid princip~l and iaLeresL shall bs p~y~bte at the oA~oe oi
J, I. IISL~ M~'JGS OObtPO~t!?TICI~T OF FIA~IZ1a
ia Miaai, Florida ? or at anch ather plsoe ~ the
~~hoWer m~iy dai~ute in vvritin~ in monthly insLtiLnenta oi F~IiTT-~ do 09~100--------~-
Dollars (i 43 • 09 aommenctn~ a~ the tlrst dsy ot tss~r .19 65 . ~t~td
on the ~irat day of each eaath thtr~fter until the principat ~nd interesL ~?x~e fu11Y Pa~d. ~xoelk that tbe !ln~l
p~ymeat of the entir~ i~debtedn+~es cvideneed hereby, if nat saoner psid, shall be dt~e and psyable on the
flrat d~,y or ,?pril ~ 1995 .
Ii default be made in the puyment of u~,y inaWlment under this not~. and ii such detault is not msde
~ood prior to the due d~?t~ ai the next auch instalimenk tl~e entirre prlncipal ~um iu?d ~tccrued intercat shaU
st o~ce beaune due aad payable without notic~ ~t the option oi the holder of lhis twte. Failure to Pacercise
t6is option shaU not oonstitute a wsiver of the right to exenas~ the s~me in the event af itny subaequent
dEir?ulk In the ~veot at defxult in the p~yment of this note. and if the same is collected by an s.ttnrney
st Lvr~. the underai~ned herebY a~ree (a) to p~y aIl caata of collection, inclc:diu~ s ressonable attorney's fea.
Preaentment, proteat, snd notice ax~e hereby waived.
Wi 1 i j gm J_ F1dri~j~
wiiii~ ~ar~a~e ~
n,,•~r,. ~ a~a~a~
Dorfs ~ldri.dge
And sh~il duir~ p~romptiY~ ~ad i~nIIY perfarm. d~~chsr~e, e.~cecute. effect, eo~npdete, and eomp~? with snd
~ sbide by each sadevery t~he stipuLtions, ur+eements. conditiome. aad oovenant~ of ssid pramissrr~r note
a~d ot tbis mo~rttap, thea thia mort~e ~nd the estate hereby cr~at~d shati cea~e e~nd be null and void.
And the mort~s~or iarther eave~unb ~s fallows:
1. Thst he v?~1 p~?y the indebtedness. as hereinbeiore provided. Privilega is reaerved ta psy the
debt in whole, or in an aianount eqw~l to oae or more monthly pa~yment~s oa the principat Lhat are next dae
on the note, on the ftnt d~y at sny manth prior to msrturity : Provided„ however, tlut written notice of an
intsntian to exercise such privilege is ~iven at least thirty (SO) ds~ya prior to prepAyment; aad~ provided
iwther, that in the event the debt ia paid in full prtor to, niaturity and at that time it is inaured under .
the proviaiams oi the National Housin~ Act, he will pa~y ta the mort~~+ee an ~?djusted premiurn Gharg~ o~
ane per oentsun (1 ~6 ) of the oregznal principtl amount thereof, eaccept that iu no event ahatl the ~d,j uated
premium exce~d the ag~re8~s?te amount af premium ch~trgea which would have been payable if the moct-
~a~e had conti..ued to be insur~ until maturit~~; euch payment to be $ppiied by the mortgagee upon its
~ obligation to the Federal Haueiug Commi~sioner an aacount ot mort~age inauran~:e.
~ 2. Tt?a~t~ in order more !'ully to protect the security oi thia mortga~e~ the mortga~or~ tagether with
~d in sdditian to~ the menthly payments under the terms oi the note secured hereby, on the flrat day o~
each month until the said nof~ ia fuUy paid, will pay to the mortg~ee the tollowing suma:
(a) An ~mount aut~3cient to prnvide the holder hereo! with iunds to pe?y the neat mortgag~e
ineurance premium if thia inatrument and the note secured hereby sre insured, or a monthly charg~e
(in lieu of a mortgag~e inaur~ua?ce premium) it they s~re held by tt~e Federal Hou~ing Conamisgioner,
as fallows :
. (t) It snd so lote~ u asW noLe o! ev~x date arQd t~is inr~vnaent ue insnred or sre reinsured nnder t,~e
pmvisioru of the Nstiornsl Honsing Aet, sn am~onnt snmrient to accnmulate in the h~ands of the lialder
o»e (1) maa~th prior to its dne date t1?s annasl r~eorl~age inwranoe premium, in order Lo prov~le ~nch
holder with fund~ to pa sueh premium to the Feder~l Honsin~ Commiairnner pnrtuant to tAe NatibnU
Howi Aet, as a~ed, and appliesble Rc4aL?tiona thereander; or '
(tr) Ii and ~a~ aa said nak~ oi even dste and thu instrnn~cnt sre t,eld bp the Fedesal Honsin~ Comtais-
sioaer, a aaonthly (in lieu af • mortsa~o insaranoe premiuea) wluch rhalt be fb an an~bant
aqnal to une-t~rdith~) oi o~-balt ) per centnm oi tbe sversge outatsndina ba?isnce due on the
nate oomputed witlwat ta~idne into itaount ddinqaencies or preprymenb;
a
(b) A wm equsl to the ~r~onnd renta, if any, next dn~e, plua the premiums that will next becwm~e
dne u?d p~yable on polici~ea oi flre and other huatrd insurAnce cavering the mortga~ed property, ptua
ts~ces aud ~ssessnsenta next due on the mort~sged praperty (>tU t~a cstimated by the mortg^agee) less
~tll ssima alr~tdy psid thereior divided by the number. of months to elapse before one month ~rior
to the dute when such ~r~und rents. premiums, taxes. and assesstnents will become delinquent, +~uch
. sume to be held by mort~a~ee in trust to pay said groun~ rents, premiuma, t~csa~ and e~ecia~l asaesa-
. menta; aad
~ (c) AR psyments mentioned in the two preceditig subsect~ons oi thia paragrsph and all psy-
xteenta to be made under the aote secux~ed hereby shsU be added to~ther and the s te uncauat
tha~o~i shsU be pnid bp ttu mort~aror s~ch tnonth in siusle ~ymerit to be spplied~y tho m~ort•
t ~a~ee to the loUo~ ite~u? in the order eet forth :
(t) Praa4ium elu~r;~a~ wrder tbs ooutratt +~t inwr~nes with tlis Federsl Hoaidns Coamni~sioner, or awnthly
(in lisu o[ mort;ap i~nran~s pt~iam) ~ n tbe aue m~~ be;
(u ~r~, tsx~s. ~awaat~, dre. u~d otlfer b~t~rd in~wrsaee~ peraoinms;
(ttt •~ow t6r »o0t +Netirad bt~ebr; a~d
(n~ ~a~orti~ation of t!w pri~c~psl o! saW note. =
t~
Ati,tr de}icieacy ixt the aibount of wch ~ate mbnthly ~ay~ent shaIi, uniw made ~nod by ~e
prior to the due dste oi the next auch pa~naent, ecmataLute an event o! dgisult nnder this m#t~t~
moi'ttJt~+ee map Cu1k~t ~"~ate dur~e not to esceed two crn4e t2~) for each dollar (il o~
s e~
h p~ e
at more thsa fiiteen (15) dsy~ in arreara to ~aver the extra ~xpenae invalved in handlin~
~ d~eliaqne~t p~nh'
3. That ii the totsl of the psymenb made by the mort;a~r under ( b) oi p~ra~rsph 8 precedin~ shall
e;aeed the ~nnouat of ~Yn?ents actually m~de by the mart`s~ee. for Rround renta. taxes a»d usses~meab
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