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HomeMy WebLinkAbout2676 , ~ ' ~OR VALU~ RECEIYED~ the undereignec! promi~e(s) to pay to ATICO FIN~NCIAL CaRPORA.mxON , a corporation or~anized ~nd existing under . the law~ oi Dela~aare ~ or order~ the principal aum oi Ten thous~hd ~wo : --~----------------~ollara 10,250.00 ),wlth ~ , hundred g if ty and No/L00 ~ ~ ~ interest from date at the rate of F iv e& One -Quarter per centum ( S a q'o) per ~ annum on the unpaid balance until paid. The said principal and interest ahall be payable at the oftice of ATICO FINAI~ICI~L ~ORPORATIQN f ~n M am 1, FL or ~d a , or at auc other place as the ~ holder may designate in writing~ in monthly installmenta of F if t y s ix and 68~100 ` Dollars 56. 68 commencing on the firat day of February ~ 19 6S, and i on the first rlay of each month thereafter until the principal and interest ace fully paid~ except that the ftnal ~ : payment of the entire indebtedness evidenced hereby, if not sooner pa~d~ ahalt be due and pay~ble on the ~ } . first day of January ~ lg9s , i If default be made in the payment of any instt~llsnent under this note~ and if such default is not made ' • good prior to the due date of khe next such instaltment, the entire principal aum and accrued interest ~hall : ~ at once become due and pxyable without notice nt the option of the holder of this nate. Failure to exercise ; this option ahall 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 aame ia callected by an attorney at law, the undersigned hereby agree (s) to pay all costs of collection, including, a reasonable attorney`$ fee. ~ r~ .Preaentment, protest, and notice are hereby waived. - , $/..J.Qht~. P~rtritig.e. Jr. (SEAL) ; (State Docucnentary Stamps , John N. Partridge, Jr. ~ i ~ affixed to original note ~ - - ; ~ ' and cancelled.) ` : s~. xa~_ Partrid ?~e _ (~~,j : ~ . Kay W. Par~'~tr~dge - i , - And ahall duly, promptly, and fully perform, discharge, execute, effect, complete~ and comply with ~nd ` sbide by each and every the•stipulation~, agreements, conditii?ns~ and covenant»9 of said promisaory note { and of this mortgage~ then this mortgage and the estate hereby created shall cease and be null and void. ~ And the mortgagor further covenants as follows : . ~ 1. That he will pay the indebtedness~ as hereinbefore provided. Privilege is reserved to pay the debt in whole, or in an amount ec~ual to one or more monthly payments on the principal that are next dua on the note, on the first day of any month prior to maturity: Provided, however, that written notice of an intention to exercise such privilege is given at least thirty (30j days prior to prepayment; and, provicled ~ further, that in the event the debt is paid in full prior to, maturity and at that time it ia inaured under . the provisions of the National Housing Act, he will pay' to the mortgagee an adjusted premium charge of . , one per centum (1%) of the original principal amount thereof, except that in no event shall the adjusted i premium exceed the aggregate amount of ~remium chargea which would have been payable if the mort- . gage had continued to be insured until maturity~; such 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 addition to, the monthly payments under the terms of the note secured hereby~ on the first day ot ~ each month until the said note is fully paid, will pay to the mortgagee the following sums: . (a) An amount sufficient to provide the holder hereof with funds to gay the next mortgage insurance premium if this instrument and the note secured hereby are inaured, or a monthiy charge . (in lieu of a mortgage insurance premium) if they are held by the Federal Housing Commissioner, - ~ as followa : _ (i) If and eo long ae asid note of even d~te and this inatrument are inaured or are reinsured under the ~ pmvisione ot the National Housing Act, an amount aufflcient to accurnulate in the hands oi the holder - one (1) month prior to its due date the annual mortgage insuranoe premium~ in order to provide such , holder with funda to pay such prernium to the Federal Housing Commisaioner pursuant to the National ~ Housing Act, as amended, and applicable Re~ulations thereunder; or (it) If and so long ea said note of even dste and th~s~instrument are held b the Federat Housing Commia- sioner, a monthly char~~e (in lieu oi s mortgage ineurance premium~ which shall be in an amount ` equal to one-twelfth (~'is) of on~hali ('i4 ) psr cEntum oi the sverage outatanding balance due on the ~ note computed without taking into account delinquencies or prepaymenta; ; (b) A sum equal to the ground rents, if ar~y, next due, plus the premiums that will next become ~ ~ ~ due and payable on policiea of fire and other hazard ins~rance covering the mortgageci property~ plus - taxes and assessments next due on the mortgaged property (all as estimated by the mortgagee) lesa , ~ all sums already paid therefor divided by the number. of m~nths to elapse before one month pripr to the date when such ground rents, 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 asseas- menta; and -_(c ) All payments mentioned in the two preceding ~ubse~etions of thia paragraph and all pay- ments co be made under the note secured hereby shall be added together and the aggregate amount E_ thereof shall be paid by the mortgagor each month in a single payment to be applied by the mor~ f;;. • ~agee to the following items in the order set iorth : _ ' - , ' (i) premium chargES under the contract o! insurance with the Federal Housing Commieaioner, or monthlq - • charge (in lieu oi mortgage insurance premium) ~ a$ the ease may be; - . . (i[ ~mund renta, taxes, assessmenta~ fire, and other hazard ineurance pramiume; ; (ni; ~ntereat on the note secured hereby; ~nd - . - (iv) amortization oi the principal of said note. ' Anp deficiency in the amount of such aggregate monthly payment shall, untese made good by the mortgagor prior t~o? the due date of the next such pa~?ment, conatitute an event~of default under this mort- ` gage. The mortgagee may callect a"late charge' not to exceed two centa (2~) for each dollar ($1) oi ~ each payment more than fifteen (15) days in arrears to cover the extra expense involved in handling ~ ~ - delinquent payments. ~ E 3. That if the total of the payments made by the mortgagor under (b) of paragraph 2 precec~ing shall . F e~ceed the amount of payments actuall y made by the mortgagee~ for qround rents. taxes snd asses.amente ~ ~ ` R' ~ ~ , ~ - R~7~ K s rr 7~.., ~ ~ - ..r--.{:~.....~ ~ _ ~ _ .