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Home My WebLink About1176 . 4 ' . . • 4 ~oR Vat.v~ It~c$~~, the underaigneci promise(g) to pay #o . ! ATICU FINANCIAL CORFORATIDN ~ a corp4ration organized and exieCing under the Iawa of DelaWare , or order, the principal aum of . Sixteen thousend four ~ hundred and Na/100 Dollars 16,1~00.00 with ' ` e_..___---- interest from date the rate af Five b One-Quarter per centum ( 5~ per annum on ttre unpaid balance untit paid. The said principal and interest shall be payable at the of~ice of ~ ' ATICO FINANCIAL DORPORATION in Miami 1, Florida , or at such other place as the ± holder may designate in writing, in monthly installments of Ninety anc~ 96/100 `I Dollara 94.96 commencing on the firat day of February ~ 19 65, and . on the first day of each month thereafter until the principat and interest ara fulty paid, except that the fina] pxyment of the entire indebtednes~ evidenced hereby~ if not sooner paid, shall be due and payable on the first day of January ~ 19 95 . If default be made in the payment of any installment unuer this note~ and if such default is not made good prior to the due date of the next auch installment~ the entire grincipal aum and accrued interest shall at once become due and pxyable without notice at the option of the holder of this note. Failure to exereise this option shall not constitute a waiver of ths right to eacercise the same in the event of any suUsequent K, ~efaul,~. In the event ~f default in the payment of this note~ and if the aame is collected by an attornEy ~ at law~ the undersigned hereby agree(s) to pay all costs of collection, including.a reasonable att~rney s fe~. Presentment, protest, and notice ~re h~reby waived. ~ (State Documentary Stamps af~ixed to s~,., DoneZd E. ~ull iv~~ __.___,_,~SEA,.j,~, ' original note and cencelled.) Donald E. Sullivan ~ ~ _.__.r.. r s/.Sara ~1~1~___..~...._..~_.... .....--~~I,~. . Sara 5ullivan And ehastl duly, pma4p!]y~ and fully perform, discharge, exe~ute, effect, c;omplete, and comply with sad ~ abide by each and every the etipulatious, agreementa~ conditions, ar?d covenants oi said prnmissory note ~und of thia mortgag@, tlien thia mortgag~ and the estate hereby created ahatl cease and be null and void, And the ~onortgagor further covenants as followa: - 1. That he will pay the indebtednesa, ~ hereinbefore provided. Privilege ia reserved to pay the debt in whole. or in an amount equal to ane or more monthly payments on the principal th~t are next duo ~ on the note, on the Srst day of any month prior to maturity : Provided, however, that written notice of an i` ~ intention to exercise such privilege is given at least thirty (30) days prior to prepayment; and, provided further, that in the event the debt ia paid in futl prior to, maturity and at that time it is inaured under ~ the provisions of the National Housing Act, he will pay f,o the murtgagee an adjusted premium charge of s. oue per centum (1%) of the original principat arnount thereaf, except that in no event shall the adjusted • premium exceed the aggregate amount of pxemium chr~rges which would have been payable if the mort- gage had continued to be inaured until maturity; auch payment to be applied by the mortgagee upon its obligation to the Federal Housing Commissioner on account of mortgage inaurance. . ~ 2. That, in order more fully to protect the security of this mortgage~ the mortgagor, together with - and in addit~on to, the monthly payments under the terms of the note secured hereby~ on the first day o~ ' each month until the said note is fully gaid, will pay to the mortgagee the following sums: (a) An amount suflicient to provide tfie halder hereof with funds to pay the next mortgage ~ insurance premium if this instrument and the note secured hereby are insured. or a monthly eharge : ` • (in lieu of a mortga,ge in~urance premium) if they ~re held by the Federal Housing Commiasioner, - a~ follows : . (i) It and so long aa said note oi even date and thia inatrument sre ineured or are reinsured under the . provisions oi ihe Nationsl Aousing Aet, an amount suPlicient to Accumulste in the handa of the holder one (1) month prior to its due date the annua: mortgage insurance premium, in order to provide euch holder with funda to pay aueh prPmium to the Federal Housing Commisaioner pursusnt to the National Housi~g Aet~ as amended, snd applicable Re~ulaLiona the~~eundar; or . {u~ Ii and so long aa ssid nate of even date and th~s instrument are held b lhe Federxl Houaing Commis- sioner~ a monthlp ehar~ (in lieu of s mortgage fnsuranoe premium~ which shall be In an amount equal to one-tvrelfth {~/i=) of one-half (~i4 ) per centum oi the average outstanding balsnce due on the - note computed without taking into aceount delinquencies or prepayments; ~ (b) A sum equal to the ground rents, if any~ next due, plus the premiums that wilt next become ~ due and payable on policies~ of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property (all as estimated by the mortgagee) lesa : all aums already paid therefor divided by the number of mont,hs to elapse before one month prior ` to the dste when such grnund rents, premiums~ taxes~ and assessments will become delinquenE, such sums to be held by mortgagee in trust to pay aaid ground rents~ premiums, taxes, and special assess- ~ ments; and (c) All paymenta mentioned in the tvaro preceding 8ubsections of this paragraph and all pay- ments to be made under the note secured hereby shall be added together and the aggregate amount . thereof shall be paid by the mortgagor each month iu a single payment to be applied by the mort~ gagee t6 the following items in the order set forth: ° (i) preminm chargrs under the oontract o4 insnrante with the Fed~re~l Housing Commiseioner~ or monthty chs?rge (ia lien of mortgage itisursnce premlum), a~ the c~se may be; , (tJ ~mund renta, tues, sssessr»ents, fire, ~nd other h~rd inaurance premiurw; - (iu~ ~nterest on the nate seeured heteb y; and ~ . (tv) a~~aorEizntion of the princip~?t of said aote. Any deficiency in the sinount of such aggregate monthly payment shall, unlesa made good by the mortgagar prior to the due date of the next auch pa~rment, constitute an event of deiault under this mort- gsge. The mortgagee may culfect a"late charge' not to exceed two centa (2~) for each dollar (~1) of each payment more than fifteen (lb) days in arreara to cover~ the extra expense involved in handling ' ~ delinquent p~yments. ~ 3. That if the total of the payments made by themortgagor under (b) oi paragraph 2 preceding sha~l exceed the amount of payments actually made by the mortgagee. for qround rents. tsxes and asseasmenta BiIRK ~O`# Fd(:f JFT~ : , ~ ~ ~ ~