The URL can be used to link to this page

Home My WebLink About0763 . . ~ , ;.i . + ~ , Fo~ V~1.us RECSivru, ~the underaigned promis~(~) to pay to ~ J. I. KISLAK MOR~11G~ CQ~tP~RATION OF FIARIDA j ~ i ~ a corporation organized and exleting under ~ the lawa of Flor ida , or order~ the principal aum ai Elev~n thousaRd six hundred fifty and No/100 ---____.,______.~o~~a,.~ ~,1,650.00 )~with ~ intere,sl from date at the rate of Fiv~ ~C One-Querter per centum ( 5~ per ~nnum on the unpaid balance until paid, The said principal and interest shall be payable at the oi~ice of ~ J. Y. KISI~AK MOR~GAGE CORPOR.ATION ~F FLORIDA ' in M~ami 32 , Florid a~ , or at auch other place as the hotder may designate in writing~ in monthly installments of S ix ty f our e nd 42 ~100 D o l l a r e 6 4 . 4 2 c o m m en cin g on the first da y of J a nua r y ~ 19 6 S~ and l on the flrat da y of each month thereafter until the principal and interest are fully paid, except that the final payment of the entire indebtedness Qvidenced hereby, if not sooner paid, shall be due and payable on t he ~ fi~~t ciay of Decembe~r , 19 94, - . If default be made in the payment of any installment und~r~this note~ and if such default is not made ~ good prior to the due date of the next ~uch installment, the entire principal sum and accrued interest shall st once become due and payable without notice at the option of the holder of this note. Failure to exercise : this option ~hall not constitute a waiver of the right to exercise the same in ti?e event of any subsequent ~ defa~lt. In the event of default in the payment of this note~ and if the sstin~eis collected by an attorney ~ ~ at law, the undersigned hereby agree (s) to pay all coats of collection, including, a reasonable attorney's fee. ; Presentment, protest, and notice are hereby waived. . ~ ~ ~ (State Documentary Stampa s/.._J.oae~.h g- I-~~ka, Jr~- -----(,S.EAI+~ _ ~ aff ixed to original note Joaeph R. frooks, Jr. , and c~ncelled . ) • , a~ .,j~gr~.v Pa~.l i n~ ~rncs]cg~ ~$EAL ) ~ Mary Pauline arooks, And ehall duly, promptly, snd fuUy periorm, diseharge, execute, effect~ eomplete, and comply with ana ab~d$ _by each and ever~? the stipulationa, agreements~ cond'stiona, and covenanta of a~id promiasory note ~ad o! thia mortgage, then this mortgage and the estate hereby created ahaJl cease and be nuA and void. ~ And the mortgagor further covenants aa follows : 1. That he wiQ pay the indebtedness, as hereinbefore pmvided. Privilege is reserved to pay the debt in whole, or in an amount equal to one or more monthly payments on the principal that are next duo ~ on the note, on the firat day of any month prior to maturity : Provided~ however~ that written notice of an in#ention to exercise such privilege is given at least thirty (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 inaured under the provisions of the National Housing Act. he will pay to the mortgagee an adjusted premium charge of one per centum (lq6) of the original princ~pal amount thereof, except that in no event shall the adjusted . . premium exceed the aggregate amount of gremium charges which would have been payable if the mort- ~ gsge had continued to be insureci until maturit3•; such payment to tie applied by the mortgagee upon its ~ obligation to the Federal Housing Commissioner on account of mortgage insurance. ; 2. Ttiat, in order more fully to protect the security of this mortgage, the mortgagor~ together with, ` ~ and in addition to, the monthly paymenta under the terms of the note secured hereby, on the firat day of ~ : . each month until the said note is fuAy paid, will pay to the mortgagee the following sums: ; (a) An amount suf~cient to provide the holder hereof with funds to pay the next mortgage ~ insurance premium if this inatrument and the note secured hereby are insured, or a monthly charge (in lieu of a mortgage inaurance premium) if they are held by the Federal Hdusing Commiasioner, ~ as follvwa : s (i) Ii and so long as said note oi even date and thia instrument ~re ~~sured or are reinaured under the ' ~ provisions of the Nationel Housing Act, an amount au}8cient to accumulate in the handa of the holder 'i one (1) month prior to its due date the aru~ual mortgage insuranoe premium, in order to provide euch ! ' holder with funda to pap euch premium to the Federal ~iouaing Commissioner pursuant to the National ' : Housing Act, 3s amended~ and applIcable Re~lationa thereunder; or ' (u) If and eo long as eaid note oi even date and this instrument are held by the Federal ftonsing Commis- sioner, a monthly char~e (in lieu oi a mortgage ineurence premium) whieh ahall be in sn amount i • equal to one-twelit~ (~fiz) oi one-he~lt (',b ) per centum oi the sverage outstitnding baIsnce due on the . : f - note computed without taking into account delinque~ies or prepaymxnts; . ~ :f (b) ~ sum equai to the ground rents, if any, next due, plus the premiums that wili next become ; dt~e and payable on policies of fire and other hazard insurance covering the mortgaged pmperty~ plua . taxes snd asaessments next due on the mortgaged property (all as estimated by the mortgagee) less ; s11 sums already paid therefor divided by the number of munths to elap~ee b e fore one mon t h prior ' to the dste when such ground rents, premiums, taxes, and assessments will beeome delinquent, such sums to be held by mortgagee in trust to pay said ground rents, premiuma, taxes, and special asseag- ' ; ments; and • ~ ~ z ` (c) All payments mentioned in the two preceding subaectiona of this paragraph and all pay- : ments to be made under the note secured hereby ahall be added t~~ether and the a~regate Amount i ~ t~hereoi ahr~tl be pe~id by the mortgagor each month in a aingle payment to be ~pp~ed by the mort- gagee to ths following items in the or~er set forth: ' ~ ~ (t) premium ciu~rges under the contract oi insurance with the Foderal Iiousia~ Commieaioner, or ulonthly ~ charge (in lieu oi mortgsge insurance premium)~ sa the caae may be; ~ ~ ~ . (u ~round renta, taxes, saaessments, 8re, and other hazaxd insnra?nce px~emium~; : ~ ([n ~nterest on the note aecured herPby; and ` F - - (iv amoriIz~tion oi the princip~?1 oi said note. _ ; ~ ' Any deficiency in the amount oi such aggregate monthly payment ~hall, Laleaa mxde good by tho ~ ~ Aaortg~ar prior to the due date of the next such pa~rment, conatitute an event of default under this mort~ ~ ~ ' tag~e. The mortg(agee may cullect a"late charge' not to exceed two cents (2~) for each dollar (~1) a[ ~ ~ e~ch payment mo~e than fifteea (15) days in arrears to cover the extm e~cpenae involved in handlin~ ddinquent p~yments. . ; ~ 8. Ths?t if the total of the payments made by themortgagor under (b) of paragrnph 2 precedin~ shall ~ e~oeed the a~mount of paymenta ~ctually made by the mortgagee. for qround rents. tsxes and asses~ments ~ + - . o.~~ ~'~3 . f t~~ • - ~ ea~K ~~4 ~aGE1~3 : ~ . ~