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Home My WebLink About1976 , ~a~~~'r°r.i""^~~~ t r~ i' ' ~ ~ i~L~~,~ ~ 9 : FOR VALVE R~CEIVED~ the underaigned promise(s) to pay to ~ . . A~ICO ~~NANCIA~ CORPOI2.A~ION 1 ~ , a corporation organtzed and existing under + the laws oi Delaware ~ . or order, the principal sum oi E ighfieen thoueand ~ ' and~ NofL00 __....__~_....__-_Y_».._.. Dollara (~.8 000.0~ )~with i interest from date at the rate o# F iv e& One ~Que rt ~r per centum 5 a qo ) per ' ~nnum on the unpaid bulan~e unt~l paid. The said principal and interest ahall be payable at the afl~ce of ~ ~ ATICO ~INANCIAL CORPORATION ! . in Mi~mi 1, Florid a ~l , or at auch other place as the j holder may designate in writing~ in monthly inatallments 4f Nine~y nine atld 54~100 n~/' Do~lara (S 99.54 commencing on the i~rat day of gebruary , 1965 ~ and > v~~Y on the first day of each r~o~th thereafter until the principal and Interest are fu11y paid~ except th~t the final ~ ~ p~yment of the entire indebtecines.s evidenced hereby~ if n~t sooner paid, shall be due and payable on the fi?~st day of January , 19~~ . ' I • If defa~lt ba made in the payment Qf any inat~llment under 4hia note and ;f such default is not made ' ~v good prior to the due dnte of the next such inat.xltment, the entire principa~ sum and accrued interest ahall 1 at once be~ome due and payable withaut notice at the optipn of the holder of this note. Failure to exercise this optio~ shall not constitute a waider of the right to !~xercise the same in the event of any subsequent 4 = default. In the event c?f default in the payment of thia note~ and if the same ia collected by an attorney ~ ~ at laW~the underaigned hereby agree(s) to pay all costa of cotlection, in~;luding a reason~ble a~torney's fee. Presentment, proteat, and notice are hereby waived. (State Docuroer?tary Stamps .~~~.;~ji~.l i~.t~ J.~ c~_o_~mick i effixed ~o original note and • Willi,am J. McCormick ; ~ cancelled . ) . ~ • = I _$l.~e~.~P ~._M~S~rmi~k---..__.....~_.~.._..~EAL ) ~ Fey D. McCormick • And shall dulY. promptlY~ and fully perform, dischar~e, execute, ef~ect~ complete, and comply with and ; abide by each and every the atipulations, agreements, conditiona, and covenants of ~aid promiaaory note wd oi thia mortgage, then this mortgage and the eatate hereby created shal! cease and be null and void. And the mortga,gor further covenant~ as followa: l. That he wiil pay the indebtedneas, as hereink?efqre provided. Privilege ia reseeved to pay the debt in whole, or in an amount equal to one or more mar~thly payment,s on Lhe principal that are next duQ on the note, on the firat day of any month prior to maturity: Prnvided, however, that written notice of an intention to exercise ~uch privileg~ is given at lea~t thirty (30) days prior to prepayment; and, provided farther. that ia the event the debt is paid in fuU prior ~o, maturity and at that time it is insured under the proviaiona of the National Honsing Act, he will pay tp the mortgagee an adjusted premium Charge of one per centum (1~/0) of the original princtpal amount ~hereof. except that in no event shall the adjuated . premium exceed the aggregate amount of premium ch~rges which would have been payable if the mort- gage haci contirlued to be insured until maturit~•; guch payment to be applied by the martgagee upon its ~ obligation to the Federal Housing Commissianer on account of mortgage insurance. ~ . 2. That, in order more fully to prote.~t thc security of thia mortgage~ the mortgagar. together with, ~ ~ and in addit~on to, the monthly payments under the ternns of the note secured hereby, on the flrat day o# each month until the said note is fully paid~ will pay to; the mortgagee the following sum$: (a) An amount sufficient to provide the ho~der hereof with funda to pay the next mortgage ineurance premium if this instrament and the note secured hereby are insured~ or a montlily charge (in lieu of a mortgage inaurance premium) if they are held by the Federal Housing Commiasioner, aa followa : • ~ • (t) If snd eo long aa said note oi even date and° thia instrumenE are insured or are reineured uader tha provisions of the Nationsl Iiousing Act~ an amount au}ifcient to accumulate in the hands ot the holder one (1) month prios to its due date the ar~nual mortgnge inaurance premium, in order to provide auch ~ holder with funds to pay such premium to the Federai Housing Commisaioner purauant to the Nationsl . Housing Act, ae amended, and appllcable Re~ulations thereunder; or . (n) If ~nd eo long as said note of even date arid. this instrument are held b the Federal RousIng Cammis- sioner, a monthly charge (in lieu of s mortgage insurante' premium~ ryhich shalt be in an ~mouat A»,._twplfth of one-hstf (~i~i ) per centum ot the sveruge outstanding balsnee due on the ucc~. F ~ ote computed without taking into a?aourit delinquencies or prc~~-"':a; , ~ (b) A eum equal to the ground rents. if any, riext due, plua the premiume that will next become dua and payable on policies of fire and other hazard insurance covering the mortgaged property, plua t~xes and assesaments next due on the mortgaged~graperty (all as estimated by the mortgagee) lesa • atl aums alreaciy paid therefor divided by the nur~tber of munths to elapse before one month prior ` to the date when such ground rents, premiuma~ taxes~ ~nd asgessments will become delinqaent, sueh ' suma to be held by mortgagee in truat to pay said ground rents, premiums, taxea, and apecial assess- , , mente; a~nd . : ~ . : . p ~ (c) All paymenta mentioned in the twa pre~~ceding subsections of thi~ paragraph and all pa~ menta to be tnade under the note secured hereby shall be added together and the aggre$ ate aanoun~ thereo! BhaU be paid by the mortgag~r each month in a single payment to be applied by the mort- gugee to the following items ~in the brder set foL"th: ' (t) pnmium chargrs under the contn?ct of Insur~nea ~vith the Faleral Housing Commiseioner, or monthtp char~e (in liey i mortga~e insuro~nee pretnium). as the case m~y be; ft . (a ~r+ound rents, tsx~. asseasments, Are, snd pther hasard 1n~ursnoe preraituns; (1II~ iAterest on the note secured hereby; snd - ~ (tv unortiution of the prineipal oi aaid note: • • : Any deflciency in the amount of each agg~regate monthly payment ahall, unleaa mAde ~aod b~ th mo r prior to the due date af the next such pa~ment, conatitute an event oi dei~?ult under this mo~{ ~ ~ge.~e mortgagee may cullect a"late charge' not to exceed two centa (Zf) for e~h doltar (~1) ~i! ~ ee?ch pqyment more than fifteen (lb) daya in s?rreats to cover the ~xtra e~pe~ ~nvolved ~n handlii~ ~ deliaquent psymenta. - . ` ' - , : . 3. Th~t if the total of the paymenta made by the rr~qrt;gagor unaer (b) of paragrAph 2 preceding shall ezceed the amount of paym• .~ts actually made by th~ mortgag~e~ for qround rents, taxea snd ~esamenb ; ` . ~ ~4:R' . , - ' ~ C~ ~ eo~K ~~~:06 PAcf~~'5 ~