The URL can be used to link to this page

Home My WebLink About1027 .1 1'~ e + ; FOR VALU~ RECEIVF.D~ the undereigned promise(a) to pay to 1 • i ' : ~ . ~ ~ ' ATICO FINANCIA~, CORPORATION , , ~ ~ a oorporation organiz~ci and. existing under ~ the lawa of Delaware ~ or order,, the principa~l sum of Twelve ~houaand six hundred and N~/L00 Doltars (~12,600.00 )~with interest from date at the rate of F ive & One ~Quarter ger centum ( 5~' per annum on the unpaid balance until pAid, The said principal and interest shall ba payable at the of~ice of A~ICO FINANCIAL CORPORATION ~ in Miami 1, Flor ida ~ or at suc~ other place as the ~ holder may designate in writing, in monthly installments of S~.xty nine atld 68~100 ~ Dollars 69 . 68 commencing on the firat day of January ~ 19 65 ~ and ! on th~ first day of each month thereafter until the principal and intexeat are Yully paid~ except that the final # payment of the entire indebtedness evid~ncecl hereby, if not sooner paid, shall be due and payable on the first day of December ~ 19 9~+. ' If default be made in the payment of any installment under this note~ and if such default is not made goocl prior to the due dAte of the next su~ch installment, the entire principal sum and accrue~ci interest shalt at once become due and payable without notice at the option of the holder of this note. Failure tu exercise j this option shall not constitute a waiver of the right to exearcise the sa~e in the ~vent of any subse~uent ~ default. In the event of default in the payment of this note. and if ttie same is collected by an attoriiey at law~ the undersigned hereby agree (s) to pay all costs of collection, including, a reasonable attorney's fee. i=~ ~ Presentment, protest, und notice are hereby waived. (S~ate Documentary Stamps B/ Tep Mullins _ _ affixed ~o original note ~ Jfle G. Mulline and cancelled . ? ° . a/ Berbera A. Mullins (SFAL) r- ~ -Bar era , ullina ; _ ~ ~ And ahall duly~ promptly, and iuUy perform, dieeh,arge, execute, effect, complete, and comply with and ' abide by each and every the atipulations, agreements, conditions, and cavenanta of said pmmissory note i~ and of this mortgage, then this mortgage and the estate hereby created ahall cease and be null and void. - And the mortgagor further covenants as follows: • 1. That he will pay the indebtedneas, as hereinbefore provided. Privilege is reserved to pay the ~i debt in whole, or in an amount equal to one or more monthly paymenta on the principal that are next duo on the note~ on the first day of any month prior to maturity: Provided, ho~rever~ that written notice of an ~i intention to exercise such privilege is given at least thirty (80) days prior to prepa,yment; and. provided further~ that in the event the debt ia paid in full prior to maturity and at that time it ia insured under ? the provisions af the National Housing Act, he will pay to the mortgsgee an adjusted premium charge of - one per centum (Ig6) of the original principal amount thereof, except that in no event shall the adjusted ; premium exceed the aggregate amount of premium chargea whieh would have been payable if the mort- ' gage had continued to be insured until maturit~•; such payment to be applied by the mortgagee upon its obligation to the Federal Housing Commissioner on account of mortgage insurance. ; 2. That, in order more fully to pratect the security of this mortgage, the mortgagor, together with, i and in addit~on to, the monthly payments under the terms of the note secured hereby, on the first day of . each month until the said note is fully paid, wilf pay to the mortgagee the fallowing sums: ~ i (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 charge • (in lieu of a mortgage insurance premium) if they axe held by the Federtil Hou$ing Commissioner, as follows : . i (t) If and so long as said note oi even date and thia inatrument sre inaured or are reinsured under the ~ pmvisiona of the National Housing Act, an amount su83cient to accumulate in the hands of the holder one (1) month prior to its due date the annual mortgage insurance premium, in order to provide auch ~ ! holder with funde to pay such premium to the Fedaral Housing Commieaioner p~Irsuant to the National ; Housing Act, as amended, and applicable Re~ulations thereunder; or : (ti) Ii and ao long as said note of even date snd th~s instrument are held b the Federal Houaing Commis- sioner~ a monthiy char (in lieu of a mortgage insurance premiumi which ahall ba in an amaunt equal to one-twelfth oi one-hali ) pgr centum o! the average outstanding balance dae on the i note computed without taking into account delinquencies or prepayments; ' (b) A sum equal to the graund rents, if any, next due, plus the premiums that will next become due and payable on policies of fire and other' hazard insurance covering the mortgageii property, plua taxea and assess:nents next due on the mortgaged property (all as estimated by the mortgagee) less all sums already paid therefor divided by the number. of months to elapse before one month prior ~ to the date when such ground r~nts, premiums, taxes, and assessments will become delinquent, such , sums to be held by mortgagee in trust to pay said ground rents, premiums, taxes, and special assess- ~ . . ments; and . _ (c) All payments mentioned in the two preceding subsections of this paragraph and all pay-' ments to be made under the note secured hereby shall be added together and tlie aggregate amaunt ` 1 thereof shall be paid by the mortgagor eac h month in a sing~ le payment to b e app l ied by t he mort- gagee to the iollowing items in the order set forth: ~ • (t) premium chargea under the contract of insurance with the Federal Housing Commiaaioner~ or monthly i F, ~ charge (in lieu of mortgage insurance premium), as t he ease may b e; ~ j (i[) gmund rents~ taxea, asaessments, Sre, and other hasard inaurance prezniunsa; ~ ~ (tit) interest on the nots aecured hereby; and (tv) amortization of the principal of said note. ~ • , Any deficiency in the amount of such aggregate monthly payment ahall, unlesa made good by the mortgagor prior to the due date of the next such pa~?ment~ constitute an event of d~4ault under thia mort- ~ gstge. The mortgagee may cullect a"late charge' not to exceed two cents (2~) for each dollar (~1) o! . ~ , each payment more than fifteen (15) days in arreara to cover the extra expense involved in handling ~ delinquent payments. . . ~ 3. That if the total of the paymsnta made by the mortgagor under (b) of paragraph 2 preceding shall ~ exceed the amount of t~ayments actuaily made by the mortgagee, for pjround rents, taxes and assesamersta ~ ~ - - ~ 60RK ~O~ PAGf ~2 I ~ - ~ ~ - ~ ~ - - -