HomeMy WebLinkAbout1254~b ~ooK 26 P~cE554
To AAVis AxD ro HoLn the acme, ogethen vvs sU and ar the tenements, hereditaraente and apput~
tenances thereunto belonging or is any ~~ t e reversion and reversions, remainder or re-
mainders, and also all the estate, right, ~ts e, ~~~~~; dower and right of dower, separate estate,
possession, claim and demand whatsoever, as weU in law as sn equity, of rho acid Mortgagor in and to the same
and every part thereof; with the appurtenances of the said Mortgagor in and to the same, and ovary part and
parcel tlsereot unto the said Mortgagee in tee simple. that he is indefesaihly aeisesl of said land in teo
The Mortgagor hereby covenants with the Mortgagee,
simple or ouch other estate, J any as is stated herein; that he hoe full power and lawful right to conve~ the same
as aforesaid; that the land is free ~rom all encumbrances except as herein otherwise recited; that said . fortgagos
will make such further assurances to prove the aforesaid title to said land in said Mortgagee as may be reason-
ably required, and that said Mortgagor does hereby Lullyy warrant the title to said land, and every part thereof,
and will defend the same against the lawful claims of aU persona whomsoever.
PROVIDED ALMAYa that it the Mortgagor shall pay unto• the Mor!;gagce that certain promissory note, of
which the following is a Substantial copy, to wit: Fort Pierce ,Florida.
s 8, 500.00. January 3 -19 62 -
Fox VALVE RECEIVRD, the undersigned promieB(s) to pa to the order of J• g•
GLBJISON, Jl~. , as Administrator of Veterans' Affairs, an Officer of the
United States of America and his sucax~eeoro in ss h ofR such, and his or their assigns, thapsysOc(p~a~sum of
Bight thoucisan~ t'ive hundred ~ no~SO t s - - - - - Dpllgre (s , 7 vv UUUU ),
with wterest from date at the rate of five do One-rOUrl:h per centum ( S# %) per annum on the
unppaid balance until paid. The said princippa~l and interest. shall be payable at the office of the Loan Guaranty
Officer, Veterans Administration Regional (~lioe, in 8t. Pat~raburg, Florida , or at such
other 1 e holder may ate in _writ_ipg delivered or wailed to the debtor in monthly inatallmenta of
P "t~~i~y and yl}/~~a - - ~ollars (s 50.94 ).
commencing on the 3rd - day of February 19 2, and continuing on the
3rd day of each month thereafter until this note is fully paid, excep that, it not sooner
paid, the final payment of pnnci and interest shall be due and payable on the ~rd day of
January . 19 8'i~
privilege is reserved to prepay at any time, without premium or tee, the entire indebtedness or any part
thereof not lam thaa the amount of one installment~or one hundred dollars (a100.t10), whichever is less. Any
prepayment made on other than an installment due date will not be credited until the next following installment
due date.
It any deficiency in the payment of any installment under this note is not made good prior to the due date
o! the next such installment, the entire principal sum and sc~rued interest shall st once become due and pay-
able without notice st the option of the holder of this note. Failure to exercise this opption shall not constitute
a waiver of the right to exercu-e the same in the event of any subsequent default. In the~event of ~efaagurl~( the
payment of this note, and if the name is coAected by an attorney st law, the orders' ed harsh s) to
pay all costa of collection, including a reasonable attorney's fee.
This note is given for uz.,hase money of real estate and is secured by mortgage to secure debt of even
data herewith, given and delivered by the undersigned to payee on certain real property described therein.
Presentment, protest, and notice are hereby waived.
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-Olav alien
/s,~_ FRANCES C. OL3$N __-_____-- [6EALJ
Frances C. Olsen
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And shall duly, promptly, and fully perform, discharge, euecute, effect, complete, and comply with and
abide by each and every the swpulations, agreements, eondstiona, and eoveasnb 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 oovenanb as follows:
1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time,
without premium or tee; the entire indebtedness or any part thereof not less than the amount of one installment,
or one hundred dollars (x100.00), ~r)riehever is lase. Any ppre~payment made on other than an installment
due date will not be credited untr~ the nest following installment due date.
2. In order morB fully to protect the,aecurity of this mortgage the Mortgagor, ),ogether with, and in addi-
tion to, the monthl paymenb under the terms of the note secured hereby, on the installment due date day of
each month until t~ satd note is fully paid, will pay to the Mortgagee the following sums:
(a) A sum equal to the ground renb, it an ,next due, plus the premiums that will neat become due and
payable on policies of See and other hasard insurance covering the mor aged property, Plus taxes
and asseeamenb next dne on the mortgaged property (all as eetamated~ the Mortgagee and of
which tle Mortgagor is notified) less su sums already paid therefor divided bl the number of months
to elapse before one month prior to the date when sueh~ ground rents, premiums, taxes, and aesess-
menb ws71 beoonae delinquent, such sums to beheld by Mortgagee is trust to pay said ground renb,
premiums, tares, and special asaeeameab.
(b) T ~aggregatebO~, the anw~ Fayab~ureuant to subparagraph (~) sad those payable on the note
here shall be m a e payment each month, to be applied to the following items
in the otdetr stated: .
(I) grosmd each, rases, asseSamenb, $t+s. sad otha~ hasaed insurance premiums;
w (II) interest oa the note secured hereby; sad
(III) amortisation of the principal of said note.
Any deflcietscy in the amount of sneh aggregite nanthl f pa7mer-t soil! lidess made good by the MortgaBAot
pr~ice to the dns data ot~ths next such~padrment constitute an event o~ default under this mortgage.
M 'a option, M will pays late c~arge" sot ex~oeeding four per centum (4%) of any install-
mea0 when pasd a4ors teen (lb) days after the ge date thereof to per the extra expense involved
m handLngsatidu~uxlebtedy~~, ~`.~'b ~~~ wch payable out of the proceeds of say sale
°pl~poeeds ors anfl3eieat too discharge tlm satire
inda~bt dress wd sU proper costs strd espeoses s~saurad Lse'aby
E. If tbje totgl of the b made by the ~o~o under (s) of ~ Preceding shall exceed the
amount of payments ietualmsde by the lltoor)fgs~ee, for ground renb~ gib, and insurance
premiums, ss the cass.taa be, arch excess shall be t~edited an s neat payments to be made by the Mort-
}tad~~, If, ~gw~er, such monthly
~t shall ~bssstfScient the iau~ ahailme rite -end: psY.ble, then the