HomeMy WebLinkAbout1725_- ~~~~~- - 27 X325
To Havte siro'i'o How the same. together wit`iTillla~aa~~`~ta, hereditaments and appur-
tensnc~es thereunto belonging or in appertaiaittg, a reversion and revertiiQrra, remainder or re-
mainders, lord, also all the estate, righti efts, Interest, home+tead, dower and right of dower, eepante estate,
Pte, clam and demand ahatiroever, as well in law as in equity, at the said Mortgagor in and b the same
and every part thereof, with the appurtenances of the said Mortgagor in and b the acme, sad every part and
parcel tCiereot trnb the said Mortgages in tee simple.
The Mortgagor hereby ooveaants with the Mortgagee, that he is indeteaaibly seised of said land in fee
simple or such other estate, ti any as is stated herein; that he has full power and lawful n~ht b oonvop the same
as aforesaid;that the land is tree ~rom aU encumbrancoa except as herein otherwise recited; that said ltiottgagor
will make such further assurances b prpve the aforesaid title b said land.in said Mortgagee as may be reason-
ably rreeqquired, and that said Mortgagor does hereby fullyy warrant the title b said land, and every part thereof,
and wrill defend the same against the lawful claims of all persons whomsoever.
PROV1nsD ALwAYa that if the Mortgagor shall pay unb the Mortgagee that certain promissory note, of
which the following is a substantial copy, to wit: •Fort Pierce ,Florida.
= 10, 600.00. Jtttnuary 12 , 19 62
Fox VALUT Rscruvrrn, the undersigned promise(s) ~ p; y to the order of J. 9.
GLEA90N JR. miniatratpr of Veterans' Aftaira, an Officer of the
iJniled States o{America and his aiicca~aaors in each offlce, as a ch and his or their aeaigns, the principal sum of
T13N THbUSAND 3 DC 13IINDR13D ~ noyld0 ~ a - - -Dollars (s 10, 600.00 ),
Nth interest from date at the rate of Pive do ons-fourth per centum ( Sit %) per annum on the
unppaid balance until paid. The said princippa~l and intercat shall be payable at the office of the Loan Guaranty
Officer, Veterans Administration Regional Officr, in st. Pst~rsleurg. ltloacida , or at suc{r
other place as the holder may designate in writing delivered or mailed b the debtor in monthly installments of
d 100' a _ _ _ _ _ _ ~oUars (s 63.53 ),
commenctrt~ on~hee ~` 11153/ day o~ Fehr ry 1962 ,and continuing on the
12th day of each month thernafter until t~ note is fully paid, except that, if not sooner
paid,_~ie final payment of pnncipsl and interest ahsU be due and payable on the 12th day of
~Anuary ~ 19 8T
privilege to reserved b prepay st any time, without premium or fee, the entire indebtedness or any part
thereof not less than the amount of one installment, or one hundred dollars (s100.00), whichever is less. Any
prepayment made on other than an installment. due date will not he credited until the next following installment
due date.
if any deficiency in the paymeat of any installment under this note is not made good prior to the clue date
o[ the next such installment, file entire principal sum and accrued interest shall at once become duo and psy-
able without notice at the option of the holder of this note. Failure to exercise this option shall not constitute
a waiver of the right to exerciso the same in the event of any subsequent de[nult. In the event of default in the
payment of this note, and if the same is collected by- an attorney at law, the undersigned hereby agree(s) to
pay all costa of collection, including a reasonable attorney a tee.
This note is given for iirchase 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 described therein.
Presentment, protest, and notice are hereby waived.
/s/ ROBERT G. PERDEW
Robert G. Perdert
/~/_ _Ri1TH - M•---PERDI~T - - -
Ruth M. Perdew
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And shall duly, prompth, and fully perform, discharge, execute, eBect, complete, and comply with and
abide by each anti every the stipulations, agreements, conditions, and covenants of card promissory note and
of this mortgage, then flits mortgage and the estate hereby created shall cease and be null and void.
The Mortgagor further covenants ea follows:
I . That he will pay the indebtedness, as hereinbetore provided. Privilege is reserved to Prepay st env time,
without premium or ice, the entire indebtedness or any part thereof not less than the amount of one msta~lment,
or one hundred dollars (1100.1x1), whichever is less. My prepayment made on other than an installment
due date will not be credited until the next following installment 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 under the terms of the note secured hereby, on the installment due date day of
each month until the said note is fully paid, will pay to the Mortgagee the following sums:
(a) A sum equal to the ground rents, it any, next due, plus the premiums that will next become due and
payable on policies of fire and other hazard insurance eovenng the mortgaged proppeerty, plus taxes
and asaesamenta next due on the mortgaged property (all as estimated by the Mortgagee and of
which the Mortgagor is notified) less all sums already paid therefor divided by the number of months
to elapse before one month prior to the date when such ground rents, premiums, taxes, and asaess-
menta will become delinquent, such sums to be held by Mortgagee in trust b pay said ground rnnts,
premiums, taxes, and special assessments.
(ti) The aggregate of the amounts payable pursuant b subparagraph (a) and those payable on the note
secured hereby, shall be paid in a single payment each month, to bbee applied to the following items
in the order stated:
(I) ground rents, taxes, aesesamehta, fire, and other Hazard insurance premiums;
(II) interest on the note secured hereby; and
(III) amortization of the principal of acid note.
Any deficiency in the amount of such aggrngste, monthly payment shall, unless made good by th.• Mortgagor
prior to the due date of the next auc6 payment, constitute an event of default under this mortgage. At
Mortgagee's option, Mortgagor will pay a "late charge" not exceeding tour per centum (4%) of any install-
ment when paid more than fifteen (1 S) days alter the duo date theroof b cover the extra expense involved
in handling delinquent ppayments, but such "late charge" shall not be ayable out of the proceeds of any sale
made to satisfy the indebt«inesa secured hereby, unless such proceeds arc sufficient b discharge the entire
indebtedness and all proper costa and exponses secured hereby.
3. If the total of the pa meats made by the Mortgagor under (a) of paragraph 2 preceding shall exceed the
amount of payments actually made by the Mortgagee, or ground rents, taxes and assessments, and iiisurarice
premiums, as the cage may be, such excess shall be credited on subsequent payments b be made by the 114ort-
gagor for such items or, at Mortgagee's option, :shall be refundod b~~iiortgagor. It, however, such monthly
payments shall not be sufficient to pay such items when the same shall become due and payable, then the