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Home My WebLink About1582 ' ~ : ~ FbR V~LUS ~tSCeavgD~ the underaigned.promise(s) to pqy to ` ' F~SRAL NATIONAL MO~AQE ASSOCIATION , a oorpor~t~on organized and existing under the lawa of the United States of Americ~gr order. the principal sum of Ts~I~EVEN THOUSAND ONS H~TNDRBD FIPTY AND N0~100•-------------•-Dollara (i 11~150.00 with ~ intei~est rom date at the rate of F1Vl~ A1~ID' THI~ER'$UA~1'ERS per centum ( 5 3~4 per a~`~L ~(,~~T~~~~~d'CO~~~L~ ~~`~e t't~~~'~e1~~8fl~oe of in W~,nter Park~ Florida , or at such other place as the holder msy esigna te in writing, in monthly instaWnenta oi SIXTY-FIVS AND 12~100----~~~~- Dollars ~5•12 commencing oa the flrst day of September ;1g and on the first day of each month thereafter until the principal and interest are fully paid~ except that the flnal ~ payment of the eatire indebtedneas evidepoed hereby, if not aooner paid, shall be due and payable on the ; fii~st day of August ~ 19 9~~• If default be made in the payment of any installment under this note, and if such default is not made good prior to the due date of the next auch instaUment~ the entire principal sum and aocrued interest shall ' at once become due and payable without notice at the option of the holder of this note. Failure to exercise j thia option shall not constitute a waiver of the right to exercise the same in the event of any subsequent ~ default In the event af default in the~payment of this note. and if the same is collected by an attorney at lsw. the undersigaed hereby agree (s) to pay aU costs of collection. includin& a reasonable attorney's fee. ; ; Presentmenk pr~teat, and notio~ are hereby waived. i SfJoseph Edward Parker ~ (FLORIDA DOCUMENTARY STAMPS IN AN10UNT Joseph Edward Parker ; OF $16.80 AFFI~D TO AND CANCELI~D ON S1'Karen C. Parker f TI~ ORIGINAL MORTGAGE. ~ Kzsen C. Parker ~ ~ And shall duly~ promptly. and fuUy perform, discharge, execute, effect, complete. and comply with and abide by each and every the stipulations, agreements. conditions~ and covenants of said promissory note and of this mortgage. then this mortgage and the estate hereby created shall cease and be null and void. And the mortgagor further covenanta as follov~ s: l. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to pay the debt in whole, or in an amount equal to otte or more monthly payments on the princigal that are next due on the note. on the Srst day of any month prior to maturity : Provided, however, that written notice of an ~ intention to exerciae such privilege is given at lesst ihirty (30) days prior to prepayment; and~ provided ~ further. that in the event the debt is paid in full prior to, maturity and at that time it is insured under the provisions of the National Houaing Act, he will pay to the mortgagee an adjusted premium charge of one per cenhun (1 ib) of the original principal amount thereof, except that in no event shall the adjusted premium exceed the aggr~gate amount of preminm charges which would have been payable if the mor~ gage had continued to be insured until maturit3•; such payment to be applied by the mortgagee upon its obligation to the Federal Housing Commissioner on aocount of mortgage insurance. 2. That, in order more fully to pmtect the security of thia mortgage. the mortgagor, together with, and in addi~on to, the monthly payments under the terras of the note secured hereby. on the first day of eacL month until the said note is fully paid. will ps?y to the mortgagee the following sums: ~ (a) An amount suf~'icient to provide the holder hereof with funds to pay the next mortgage insurance premium if this instrument and the note secured hereby are insured, or a monthly charg~e ~ j (in lieu of a mortgage insurance premium) if they are held by the Federal Housing Commissioner. ~ ~ as followa : i (I) If and so long aa ssid note of even date and thia instrument are inaured or are reii?snred nnder the pr~visions oi the National Housing Act, an smonnt suRicient to accumulate in the handa of the holder one (1) month prior to its due dste the annual mortgage insuranoe premium, in order to provide such holder with tunda to pap such premium to the Fedetal Houaing Commiasioner pursuant to the National ~ousing Aoj, ss sonended, ~1nd applicable Ite~ulations thereunder; or (n) If and so long aa aaid note of even date and t}ua inatrument are held by the Federal Housing Commis- eAoner, a mon~hly charg~e (in-lien ~f r mortgsge insnnnce prezninm) svhieh shall be in an amonnt equal to one-taelfth..(y~s) of one-~alf ( 34 ) per centum of the average yutat~nding balance due on the note eompnted withont taking into sccount delinquencies or prepayments; (b) A sum equal to the gronnd rents~ if any, next due, plus th~premiums t~at will next become due and payable ori policies of fire and other hazard insuraitce cove ng ~h~'mortgaged property, plus taxes and assessments next due on the mortgaged property (all as estimated by the mortgagee) less all sums already p~aid therefor divided by the number of m~nths to elapse before one month prior to the date when such ground.i'ents, premiuma, taxes, and assessments will become delinquent, such sums to be held by mortgagee in trust to pay said ground rents, premiums, taxes, and special assesa- menta; aad _ (c) All paymenta mentioned in the two preceding subsections of this paragraph and all pay- ments to be made under the note secnred hereby shall be added together and the aggregate amount ~ thereof shall be paid by the mortgagor each month in a single payment to be applied by the mort- ~ gagee to the following items in the order set forth : (t) premiam charRes under the oontnct of inaurance with the Federal Housing Commissioner, or monthly chsrge (in jigp of mortgage ipsurance premiumZ, a$ the case may be; (II ground renta. taxes, assesaments, Sre, and other ~azardinaurance premiums; (~n~ interest on the note aecured hereby; and (tv) amortiaation of the principal of said note. • Anp deficiency in the amount of such aggregate month~y payment sfiall, unless rnade good by the mortgagor prior to the due date of the next such pa~?ment~ constitute,an event of default under this mor~ gage. The mortgagee may cullect a"late charge' not to exceed tvdo cents (2¢) for each dollar (ai) of each 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 themortgagor under (b) of paragraph 2 preceding shall eXceed the amount of payments actually made by the mortgagee, for Rround rents, taxes and asseaaments a o~ 150 381 f ~ - ~ : _ - - ~.~~s~~;~-~- - ~ :,u.,~,;:~: 'r~~ ~:T: ~