HomeMy WebLinkAbout0196 To H~vF ~t~o ~ro Hatu the same, ~O~"f'~fIPT K•ith nll ar?d sin~ulxr the tenement$, hereciitsments and epp~?r-
tenanres thereunt,o bclonging or in anywise eQ~ertainin~, and th~ reve~sion and reversiona, remuinae~ or re-
tnainders, and alen sll the e8tate, right, title, mtere~at, homtstcad, dower ,~nd ri~ht of ctuwer, se ~rnte estste,
n
p~osacssion, claim i?nd demund whsisoever, as well in law as in equity, of the sai~~ 1~furtgagor in an to the same,
and every part th~reof, with the appurtenances of Lhe said :~lortgagor in and to the same, nnd c~'ery part acrd
parcel thereof unto the said Mort{~sgee in fee simpla.
The 141ortga~;or hereby covenants with Lhe 1lortga~ee, thxt he is inciefea.gibiv seized of said land in fee
simpla or such other estste, ff un,y, as is stated herein; that he hns full power and ;awtul right to convey the same
as xforesaid; that the land is iree from all encumbrances except s~s herein otherwise recitecl; thet said ;~4ortgagor
will make such further sssurancea 1,o prove t~e storexaid title to said land in sAid Mort~ngea as insy t~e re~on-
sbly required, and thot said Mortgagor does hereby fullv werrant Lhe tiLle to said l~nd, end every part thereaf,
snd will defend the Same sgainst the lewf ul claims of a71 pe~sons whomffioever.
PR~ovtn~b ALw~Ye that if the ~iortgagor shAll pay unt~ the Mortg~e that certain promissorv note, of
which the following is s substantisl copy, to wit:
i 12 , 500. 00 Fort Pierce , Florida .
~y 1~ , ~s 6S .
FOR VALUF, RECEIVSD the underei ed romise(s) to ay to the order of
dministrntor of Veterana' Affairs, nn Officer of the
IJnit~ States ot Americ , and his suecessors n such office a a iFh, and his or their essigns, the princt al aum of
Twelve Thousanc~ Five Hundre~ and noJ10~ s- Do~~ars 12,5~0.00
with interest from dnte at ~he rate of five & one-fourth per centum ( 5 Per aiinum on the
unp aid bslance until paid. The snid principal and intrreat shwll be pavable at the o~ce of the Loan Guarant.y
Officer, Veterans Administretion Regional Office, in St. Petersbux'g, Florida , or at such
o her place as e holder a in writing delivered or mailed to the debt~r, in monthly inatallments of
~eventy-~our an~ ~l~~~s- - - - - - - - - - _ - ~~pllara (S 74.91
commencing an the firsL dsy of July , 19 , and continuing on the
first day of each month thereafter until this note ia fully peid, except that, if not aooner
peid~tth~eenal payment of p9n~c~a1 and intereat ahsll be due and payable on the g~s~ day of
~
Privilege is reeerved to prepay at any time, rvithnut prernium or fee, the er~tire indebtedness or ~ny part
thereof not lesa then the amount nf one installment, or one hundred dollais (~100.00), whichever is less. Any
prepayment made on o±her than an installment due dete will not be credited until the next following inatallment
due date.
If any deficiency in the payment of any installment under this note ia not, made gaod prior to the due date
of the neat such installment, tfie entire principal sum snd accrued interest shnll at once become due and pay-
~ble without notice at the option of the holder of this note. Fail-Sre to exerciae this option ahall not const,itute
s waiver of the right to eaerc~se the same in the event of any subsequent defsult. In the event of default in the
psyment of this note, snd if the same is collected by an attomey at law, the undersigned hereby agree(s) to
pay all coats of collection, including a reasonable ettorney's fee.
This note is given for purahase money of ret~l estate and is secured by mortgage to ~ecure debt of even
date herewith, given and delivereci by the undeisigned to p~yee on certain real pmperty described therein.
PresentmQnt, protest, nnd notice are het°Pby waived.
/s/ ARVILLE H. McDONALD (s~~L]
State Documentary Stamps in Che - - - -
Orvi11e H. McDonald
amount of 1$.~S attached to
---~s~--BA:RB~ARA_ J.__ MCDONALD------._. ~BEAL~
original and canceZed. Barbara J. McDozald
IBEAL~
lBEALJ
And shall duly, promptly, and fully perform, discharge, execute, ePfect, complete, and compl,y w-ith and
abide bq each and every the atipulations, agreements, conditions, and covenants of aeid~ promissory note and
of this mortgage, then this mortgage and the eatate hereby created shsll ceaee and be null snd void.
The Mortgagor further covenants as follo~vs:
1. 1"hat he will pay the indebtedness, as hereinbefore provided. Privilege is reserved t,c prepay at anv time,
without premium or fee, the entire indebtedness or any part thereof n~.,t lesa thsn the amount of one inetaftment,
or one hundred dollars (~1Q0.00), whichever is less. Ariy prepayment made on other than an installment
due date will not be credited until the next following inatallment, dua date.
2. In order more full~ to prntect the securit~ of this mortgage, the Mortgagor, together with, and in addi-
tion io, the monthly paymenta under the terms of the note secured hereby, on the ~nstallment due date day of
each cnonth until the gaid noLe is fully paid, will pay t4 the :~iortgagee as trustee (under the terms of this
trust as hereinafter atated) the following auma:
(a) A sum equal to the grouud rents, if any, neat due, plus the premiums thst w~iil ne~t become due snd
payable on policies of fire and other hazerd inaurance covering trie mortgaged psoperty, plus taxea
and xaeessments next due on the mortgaged y~roperty (all as estimated by tho tifort~egee and of
which the 1tlortgagor i6 notified) less all sums alreedy gaid ~therefor divided b~ the number of months
to elapse before ane month priar to the dgte w l~en suchgr ound renta, pretniums, taxes, and assesa-
menta will become delinquent, such sums t,o be held by Mortgagee in trust t~o pay said ground rents,
premiuma, taxes, and special assessments.
(b) T~ie aggregate of the amount,s payable pursuant to subpa,rggraph (a) and those payable on the note
, secured heret~y, shall be paid in a single payment each month, to be applied io che following ii~ema
, in the order ~teted:
(I) ground rents, teu~es, assessmenta, fire, and other hazard inaursnce premiums;
(II) intereet on the note aecureci hereby; and
(III) am4~tization of the principsl of said note..
Any deficiency in the amou~t of such aggregate monthly payment shall, unless msde good by the Martgagor
prior to the due date of the nest such payment, constitute an event of default under this mortgage. At
Mortgagee's o~tion, Mortgagor will pay a"late chsrge" not ezceeding f~ur per cent:~m (4%} of any inatell-
ment when paid tnore than fiftNen (15) days after the due date thereof to cover the extra expense invalved
in han~ling delinquenL psyments, but such "late ahar~e" ~hall not be payable out of the proceeds of anp sale
made to xatisfy the indebtedneag secured herehy, unless such preceeds are aufficient to discharge ~the entire
indebtednesa e?nd ~11 proper co~ts and expenses secured hereby.
3. If the total of the paym ents made br the ~IortgRgor under (a) af parx~raph 2 prµredin~ shall exceed the
amount of pa~menta actually made by the :~lortgagee, as trustee for ~,n-ound~rents, taxe.~ and ?sa4esementa, and
in9urance premiums, sa the case may be, such ex~ess shall be credited on subsequent paymenta to he made
bc the :~'Iortgagor for surh items or, at 1torGgagee's option, f4.4 tl'iIStPP, 9I18I? bP, refunded to `'Iortvagor. If,
howerer, such monthl~ pa~ments shall not be sufficierzt to pa~ such iterns when the same s}~all becqme due
and pa~able, then the~~iort~a~or shall par-~t ~the ~1ort~a~ee tis trustee any amotmt necessary to make up
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