HomeMy WebLinkAbout2073ST. LUCIE COUNTY, FLA.
To HAYS Axn To Hotn the same, together with all and singular the tonemonts, heroditamenta and appur-
irnanrna thereunto belonging or in anywtso aQpcrtaining, and the rovereion and inversions, romaindor or rc-
msindere, and also sU the estate, right, title, rntorest, homestead, dower and righ~t o[ dower, scparato estate,
poeBession, claim and demand whatsoever, as well in law ae in oquity, of tho said Mortgagor in and to tho same
and every part thereof, with the appurtenances of the said Mortgagor in and to the same, and Query part anc~
parcel tlirrrof unto the said Mortgagee in fee simple.
The Mortgagor heroby oovenante with the Mortgagor, that ho is indefeasibly seized of said land in tee
simple or such other estate, rf any as is stated heroin; that lto ltsa full power and lawful right to convoy the same
as aforesaid; that the land ~ free ~rom all encumbrancos except as horoin otherwiso recitod; that said Mortgagor
will make such further assurances to prove the aforesaid title to said land in said Mortgagee as may be roason-
ably required, and that said Mortgagor does heroby fullyy warrant tho titlo to asi~l land, and Query part thereof,
and gill defend the same against the lawful claims of all persona whomeoovrr.
Pnovrnsa ALwAYe that if the Mortgagor shall pay unto the Mortgagee that certain promissory note, of
which the following is s aubetantial Dopy, to wit:
* Z0, 000.00 Fort Pierce ,Florida .
February ~16 , 19 61
Fort VALUF. Racrrvaa, the undersigned promise(s) to pa to the order of J. 9 dleaiOn,
,T . , as Administrator of Veterans' Aftraire, an Officer of the
United States of America, end his ucce~ora in such oflice, as such, and his or their assigns, theprindpal sum of
T*n ThQUSand and no~100' a - - - - - - - - - - - - D Tara (:lc~, 000.00 ),
with interest fmm date at the rate of live do one•foul't11 per centum (5 %) per annum on the
unpaid balance until paid. The said pr~ci~ppal and interost shall bo payablo a~o o coo of the Loan Guaranty
Der, Veterans Administration Regional O[1YCS, in St • Pe tOraDlirg, Or as , or at such
other lace as the holder may d ate in writing delivered or mailed to the debtor in monthl insta~lmenta of
S~acty-seen aid 39~00's - - - - - - - ~ - - ~olla~s (s 7.39 ),
commencing on the 16th day of Ma='ch 19 6i ,and continuing on the
16th day of each month theroafter until this note is fully paid, e:oept at, it not sooner
paid, the final payment of prm i al and interest shall be due and payable on the 16th day of
February , 19 ~~.
Privilege is reserved to prepay at any time, without premium or fee, the entire indebtedness or any part
thereof not lees than the amount of one installment, or one hundred dollars (f100.00), whichever is less. Any
prepayment made on other than sn installment due date will not be credited until the next following installment
due date.
If any deficiency in the payment of any installment under this note is not made good prior to the duo date
of the next such installment, the entire principal sum and accrued interest shall at once become due and pay-
able without notice at the option of the holder of this note. Failure to exorcise this option shall not constitute
a waiver of the right to ezercree the same in the event of any subsequent default. In the eveni of default in the
payment of this note, and if the same is collected by an attorney at law, the undersigned hereby agroe(s) to
pay all costa of collection, including a reasonable attorney's fee.
This note is given for purchase money of real e4tste and is secured by mortgage Lo secure debt of even
date herewith, given sad delivered by the undersigned to payee on certain real property described therein.
Presentment, protest, and notice are hernby waived.
/a/ RALPH N. I11130DB1t
------------------------------------------------------------ [aeAL)
Ralpti Y. Inbodan
/aI -pJIII,IIi~__M~iY IAHODSN _____________ [BF:AL]
Pauline May Inbodan
------------------------------------- - [sr:AL]
- - -------------
----------------------------------------------------------- [BEALJ
And shall duly, promptly, and fully perform, discharge, execute, effort, complete, and comply with and
abide by each and every the strpulationa, agrcemonta, conditions, and covenants of said promissory note and
of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void.
The Mortgagor further covenants as follows:
1. That he will pay the indebtedness, sa hereinbefore provided.. Privilege ra reserved to prepay at an time,
without premium or fee, the entire indebtedness or any part thereof ltot leas than then amount of one installment,
or one hundred dollars (1100.00), whichever is lees. ~ Any grepaytnent made on other than an installment
due date will not be credited until the next following ins ant due date.
2. In order more fully to protect the security of this mortgage the Mortgagor, together with, and in addi-
tion to, the monthly payments tinder the terms of the note secured hereby, on the installment due date day of
each month until the sad note is fully paid, will pay to the Mortgagee the following soma:
(s) A sum equal to the ground rents, if an ,next due, plus the premiums that will next become due and
payable on policies of fire and other hasard insurance covering the mortgaged p%petty, plus taxes
sad aaeessme~nts next due on the mortgaged property (all as estimated b the Mortgagee and of
which the Mortgagor is notified) lees all arms already paid therefor divided ~ the number of months
to elapse before one month prior to the date when sueh~~ ggroround rents, premi~uma, taxes, and assess-
me~nta will become deliaqueat, wah soma to be held by Mortgagee in trust to pay said ground rents,
premiums, lases, sad special aaseesmeats.
(b) The a~r~ste oC~he amounts Payable pursuant to wbparagraph (a) and those payable on the note
secured hereby, 'shill be paid m a single payment each month, to be applied to the following item8
in the order stated:
(I) f~~ its, gym, asiesaraento, See, sad other'hasard insurance premiums;
(II) interest on the note secured hereby; and
(III) aaaorlasation of the ptinaipal of said note. ~ '
Aay deficiency in the amount of web a~regate monthly payment stall unless made good by the Mortgagor
pprior to the due data of the next such' pa~meat constitute an event o~ default under this mortgage. At
Mortgagee's option, :1+io will Pt- s late not esoeediag four per centtrm (4%) of lay install-
ment when pad more tlzaa- Bfteen (16~ sttar,tbs d4s_ c~o-ahareot to Dover the erica expense involved
in handling delinqquent ppaayments, but a~ yy~~e~-~ ~II bpt,~p yabk out of the pe+ooeeds of any ealo
made to satisfy the indebtedness secured Le~eby~a~~,~udess such p`oeeedaaae+e suf$eieat to diseharge the entire
indebtedness sad alI proper oats sad expsases sectu+ed .
9 4 r