HomeMy WebLinkAbout0034TO HAVE AND ~ro HOLD the Same, to~ther with all and ainfnilar the tenoments, t~amcAts and ~ pur-
tenances thereunto belonging or in anyv~nse appertaining, and the reversion anf~-revh~~ ~~4mainde~;~r re-
mainders, and also all tho estate, right, title, interest, l~omestcad, dower and ri~hl o dower, separate estate,
possession, claim and demand whatsoever, as well in law as in equity, ot,tho said ortgsgor in and to. the same,
and every part. thereof; with the appurtenances of the said Mortgagor in and to the same, and every part and
parcel thereof unto the said Mortgagee in fee simplo.
The Mortgagor hereby covenants with the Mortgagee, tl-st he is indefeasibly seised of said land in fee
simple or such other estate, if any, as is stated herein; that he has t~dl power and lawful right to convey the same
as aforesaid; that the land is tree from all encumbrances except as herein otherwise recited; that said Mortgagor
will make such further assurances to prove the aforesaid title to said land in said Mortgagee ss may be rcason-
ably regwired, and that said Mortgagor does hereby tuAy wartat-t the title to said land, and every part thereof,
and will defend the same against the lawful claims of all persons whomsoever.
PROYIDSD ALWAYS that it the Mortgagor shall pay unto the Mortgagee that certain promissory note, of
which the following is a substantial copy, to wit: Fort Pierce ,Florida.
: 15,400.00 July 25 ,ls 69
FOR VALUE RECEIVED, the undersigned promise(s) to pay to the order of the Administrator of
Veterans' Affairs, an Officer of the United States of America, and his successors in such office, as
sudt, and his or their assigns, the priacipal sum of FIFTEEN THOUSAND FOUR HUNDRED
and no/100- - - - - - - - - - - - - - - - -Dollars (~ 15 400.00 )~
with interest from date at the r:te of seven and one-half per centum ( 7~ aJo) per annum on the
unpaid balance until paid. The said princ~~~ppal and intPrest. shall be payable at the ofi'icr of the Loan Guaranty
Of&cer, Veterans Administration Regional OBice, in St. Petersburg Florida , or at such
other lace as the holder ma d ate in wri delivered or mailed to the'debtor in monthl inst,allmcnts of
ON~ HUNDRED 7,'HI~~and 811 0- - - - - - - - ~ollars (i ~]:3 ;8I ).
commencing on the t day of August 19 69 ,and continuing on the
25th day of each month thereafter until t ' note is fully paid, except that, if not sooner
paid, the final payment of principal and interest shall be duo and payable on the 25th day of
Jul~- 1994.
Privilege is reserved to prepay at any time, without premium or fee, the entire indebtedness or any part
thereof not less than the smounL of one installment, or one hundred dollars (1100.00), whichever is less. Any
prepaymenE made on other than an 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 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
s waiver of the right to exercise the same in the event of any subsequent default. 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 costs of collection, including a reasonable attorney's fee.
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 described therein.
Presentment, protest, and notice are hereby waived.
State Documentary Stamps in the
amount of $23.10 attached to
original note and canceled.
/s/ WILLIAM G. HUFFMAN
-----°------------•---------------------------------------- ISEAL~
William G. Huffman -
------------------------------------------------------------ ISEALJ
/s/ MARCELLA C. HUFFMAN -_ ~sEALJ
- - --------------------------
Marcella C . - Iitif Einar
-------------------------------------------- IBEAL~
f
And shall duly, promptly, and fully perform, discharge, execute, effect, complete, and comply with and
abide by each and every the stipulat-ions, 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, as hereinbefore provided. Privilege is reserved to prepay at an time,
without premium or fee, the entire indebtedness or any part thereof not less than the amount of one installment,
oar one hundred dollars (1100.00), whichever is lees. Any prepayment made on other than an installment
due date will not be credited until the neat 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 oI the note secured hereby, on the installment due date day of
each month until the said note is tally paid, wdl pay to the Mortgagee as trustee (under the terms of this
trust ea hereinafter stated) the following sums:
(a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and
payable on policies of fire and other hasard insurance covenng the mortgaged proppeerty, plus taxes
and assessments 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 assess-
. mints will become delinquent, such sumo to be held by Mortgagee in trust to pay said ground rents,
premiums, taxes, and special asseseinenta.
(b) The' aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the note
secured hereby, ahaD be paid in a single payment each month, to bbee applied to the following items
~in the order stated:
m ground rents, taxes, assessments, fire, and other hasard insurance premiums;
(II) interest on tha note secured hereby; and
(III) amortisation of the principal of said note.
Aay deficienccy in the amount of such aggregate riwnthlY p'-hyment shall, unless made good by the Mortgagor
prior to the due date of the next such palyment, constitute an event of default under this mortgage. At
Mortgagee's option, Mortgagor will pay a `late charge" not exceeding lour per centum (4%) of any install-
ment when pad more than fifteen (15) days after the due date thereof to cover the extra expense involved
in handling delingwent payments, but such "Lie charge" shall not be payable out of the proceeds of any sale
made to satisfy the indebtedness secured hereby, ut~lese such proceeds are sufficient to discharge the entire
indebtedness and all proper costa and expenses secured hereby.
3. If the total o! the pa ent8 made by,the Mortgagor under (a) of paragraph 2 preceding shall exceed the
amount of payments actual y~made~,by, the l-~iortga$es, as trustee for ground rents, taxes and assessments, and
insurances premiums, as t1~e case may be, such excess,shall be gredited on subsequent payments to be made
by the Mortgagor for such it~ms`dr, dZ'Mortgagee's option, as trustee shell be refunded to Mortgagor. If,
however, such monthl)r payments shall-:not be sufficient ~o pay such items when the same ph become due
and payable, then the Mortgagor shall pay to the Mortgagee as trustee any amount hed~sa to 'make up
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