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HomeMy WebLinkAbout2149BORK 4 176 TO HAYF. AND'1'O HOLD LhP same, together with all and singular the tenements, hereditaments and appur- tenanma thereunto belonging or in anywrae appertaining, and the reversion and rcvcreions, remainder or re- mainders, and also all the eslste, right, title, rnteroat, homestead, dower and ri~t o[ dower, acparatc estate, poeseesion, claim and demand whatsoever, as well in law as in equity, of the said . ortgagor in and to tho same and every part thereof, with the appurtenances of the said Martgagor in and to the same, and every part sure parcel thereof unto the said Mortgagee in fee simple. The Mortgagor hereby covenants with the Mortgagee, that he is indefeasibly seized of said land in tee simple or such other estate, rf any as is stated herein; that ho has full power and lawful right to conve the same as aforesaid; that the land is tree ~rom all encumbrances except as herein otherwise recited; that said Mortgagor will make such further aeaurancea to prove the aforesaid title to said land in acid Mortgagee as may be reason- ably required, and that said Mortgagor dose hereby fully warrant the title to said land, and every part thereof, and will defend the same against the lawful claims of all persona whomsoever. PROVIDED ALWAYS that if the Mortgagor shall pay unto the Mortgagee that certain promissory note, of which the following is a subetantaal copy, to wit: i?=n~n80~ Fort Pierce ,Florida. Fbbruary 17 , 1961 FOR VALUE RECE1vED, the und_eraigned promise(s) to pa to the order of J. 3. GLEA30N, as Administrator of Veterans' A$sire, an Officer of the United Sts -~ of Amesica, and his sua'eaeore in ouch office, as such, and his or their assigns, the principal sum of e lve Thous and and no/100 ~ s - - - - - - - - - - Dollars (i 12, 000.00 ), wit~mterest from date at the rate of five & one -fourth per centum ( 5 ~ %) per annum on the unppaid balance until paid. The said principal and interest shall be payable st the office of the Loan (3usranty Officer, Veterans Administration Regional-Office, in St. Petersburg, Florida , or st such other place ss the holder may deargnate in writing delivered or mailed to the debtor in monthly installments of 3evant~-On and ~~/~00 r s - - - - - - - - - - - ~~ (= 71 91 ) oommenc on the ~(LL day of I~.arch 1961 ,and continuing on the 17th day of each month thereafter until Lhis note is fully paid, except that, it not sooner paid, tTi~ final payment of p '~~ tpal and interest shall be due and payable on the 1'j th day of February , 19 176 . 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 (1100.00), whichever is less. Any prepayment made on other than an installment due date will not be credited until the next following installment due date. If any deficiency in the pa ent of any installment under this note is not made good prior to the due date of the next such installment, the entire principal sum and accrued interest shall st once become due and pay- able without notice at the option of the holder of this note. Failure to exercise this option shall not constitute a waiver of ttie right to exercise the same in the event of any subsequent deiault. In the event of default in the payment of this note, and ii the same is collected by as attorney st law, the undereigned hereby agree(s) to pey all costs of collection, including s reasonable attorney's tee. This note is given for purchase money of real estate and is secured by mortgage to secure debt of even date herewith, given and delivered by the undersigned to payee on certain real property deacnbed therein. Presentment, protest, and notice are hereby waived. /s~ GABE _ E. PRr"'S. COTT -- ~sF-~L] Babe ~. ire s co tt-------------------------- /s~__LFATRICE PRE3COTT _-________-- [SEAL] Leatrice Prescott ------------------------------------- - - ------------- ~BFL~L] ------------------------------------------------------------ IBEAL] And shall duly, promptly, and fully perform, discharge, execute, effect, complete, and comply with and abide by each and every the stipulations, agreements, 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 sa follows: 1. That he will pay the indebtedness, ae hereinbefore provided. Privilege ra reserved to prepay at an time, without premium or fee, the entire indebtedness or any part thereof not lees than the amount of one installment, or one hundred dollars (1100.00), whichever is less. Any pprepayment made on other than an installment due date will not be credited until the neat following installment due data. 2. In order more fully to protect the security of this mortgage the Mo r, together with, and in addi- tion to, the monthly payments under the terms of the note aecure~ hereby, on installanent due date day of each month until the sod note is fully paid, will pay to the Mortgagee the following sums: (B) A sum equal to the ground rents, if any, neat due, plea the premiums that will neat become due and payable on policies of fire and other hasard insurance covering the mo propert ,plus taxes and assessments neat due on the mortgaged properiy (all ae estimated y the Mortgagee and of which the Mortgagor is natified) lees all soma already pod therefor divided b~ the number of months to elapse before one month prior to the date when such ground rents, premiums, lases, and asaeas- menta will become delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, premiums, lases, and special asseesanents. (b) The a~gste of the amounts payable pursuant to subparagraph (a) and those payable ors the note aacured hereby, shall be paidm a single payment each month, to be applied b the following items in the order stated: (I) ground rents, tares, aeeesements, fire, and other hasard insurance premiums; (II) interest oa the note secured_hereby; and - (III) amortisation of the principal of said note. , Any deficiency is the amount of such aggregate monthly payment shall unless made good by the Mortgagor ppr~ior W the due date of the nett such pa~rnent constitute an event o~ default under this mortgage. At Mo s option, Mor~agor will pay • Lle c~arge not exceeding four per cenlum (4%) of any inatsll- ment when pad more than $iteen (1 b) days sftee the due date thereof to Dover the antra expanse involved in handling delinquent payments, but suelr Lte eLarge' shall not bs payable out of the proceeds of any sale made to satisfy the indebtedness secured hereby, anless sack proceeds are sufBoi~ent to discharge the entire indebtedness and all proper costs and expanses secured hereby. - ; ..