HomeMy WebLinkAbout0141To NAVE Axu'ro HoLU the same, together v-ith all and singular the tenements, hereditaments and appur-
tenanres thereunto belonging or in anvv-•ise appertaining, and the reversion and rive ions, ~emainiler or re-
mainders, and also all the estate, righ(, title, interest, Homestead, cio~ver.and ~ ` t dowers s~p~ca~e estate,
possession, claim and demand whatsoever, as well in law as in equity, of tli~ said Mor~gagor in and to fire same,
and every part tlierrof, with the appurtenances of the said Mortgagor in and to the same, and every part and
parcel thereof unto the said Mortgagee in fee simple.
The Mortgagor hereby covenants vrith the Mortgagee, that he is indefeasibly seized of said land in fee
simple or such other estate, r[ any, as is stated herein; that he hac full power and lawfiul right to convey the same
as aforesaid; that the land is Tree from all encumbrances except as herein otherwise recited; that said \rtortgagor
will make such further assurances to prove the aforesaid title to said land in said Mortgagee as may be reason-
ably regwired, and that said Mortgagor does hereby fuAy warrant the title to said land, and everyQart thereof,
and will defend the same against the lawful claims of all persona whomsoever.
PROVrDED ALWAYS that if the Mortgagor shall pay unto the Mortgagee that certain promissory note, of
which the following is a substantial rnpy, to wit:
=12,000.00 Fort Pierce ,Florida.
July 29 , Is 69
FOR VALUE RECEIVED, the uadersigned 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
such, and his or their assigzts, Ute priacipal sum of TWELVE THOUSAND and no~100- -
- - - - - - - - - - - - - - - - - - - - - - dollars (~i,,~2 , 000.0 ),
with interest from date at the rate of seven & one-half per centum ( / qo) per annum on the
fin~paid balance until paid. The said principal and interest. shall be payable at the office of the Loan Guaranty
Ot6cer, Veterans Administration Regional Office, in St. Petersbur , Florida , or at such
other ppl~~ac~~e~~as the holder may d a m writing delivered or mailed to t~e debtor in meet i lmcnts of
EIGATY-EIGHT and 29~i0~ - - - - - - - - - - - - -~ollars (_~ ),
commencin on the day of August lt~ ,and continuing on the
29~h day of each month thereafter until thin note is fully paid, except that, if not sooner
paid, 6be final payment of principal and interest shall be due and payable on the 29th day of
July 1994.
Privilege is reserved to prepay at 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 (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 say deficiency in the pa ant of any installment under this note is not made good prior to the due date
of the next• such instalhment, the entire principal sum and accrued interest shell at 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 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 unden~igned hereby agree(s) to
pay all costa 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
amotmt of $18.00 affixed to
original note and canceled.
/s/ ALVIN L. STARK
-- --- ------------ -------------------------------------- (SEALJ
A1v~t L. Starr
/s/ _ CHARLON M. STARK __ [aeALj
-------------------
C~iarloii f~:--Starr----- t
------------------------------------------------------------ ISEALJ
------------------------------------------------------------ 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 sud romissory note and _
of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void. - -
The Mortgagor further covenants as 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 ono installment,
or one hundred dollars (1100.00), whichever is less. My prepayment made on other than an installment
duo 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 tiiortgagee as trustee (under the terms of this
trust as hereinafter stated) the following sums:
(a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become duo and
pay able on policies of fire and other hazard insurance covering the mortgaged proppeerty, plus taxes
and assessments next due on the mortgaged property (all as estimated by the l~iortgagee and of
which the Mortgagor is notified) leas 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 asses~-
ments will become delinquent, such sums b be held by Mortgagee in trust to pay said ground rents,
premiums, tares, and special assessments.
(b) The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the note
secured hereby, shall be paid in a single payment each month, t ~ bee applied to the following items
in the order stated:
(I) ground rents, taxes, assessments, fire, and other hazard insurance premiums;
(II) interest on the note secured hereby; and
(III) amortization of the principal of said note.
Any deficiency in the amount of such aggregate monthly payment shall, unless leads good by the Mortgagor
prior to the due date of the next such payment, constitute an event of default under this mortgage. At
Mortgagee's option, Mortgagor will pay a "late charge" not exceeding four per centum (4°Jo) of any install-
ment when paid more than fifteen (15) days after the due date thereof to cover the extra expense revolved
in handling delingwent payments, but such "late charge" shall not be ayable out of the proceeds of any sale
made to satisfy the indebtedness secured hereby, unless such proceeds ere sufficient to drachsrge the entire
indebtedness and all proper costs and expenses secured hereby.
3. If the total of the pa meets reads by the Mortgagor under (a) of paragraph 2 preceding shall exceed rho
amount of payments actually made by the Mortgagee, as trustee for ground rents, taxes and assessments, and
insurance premiums, as the case may be, such excess shall be credited on subsequent payments to be made
by the Dior agor !or such items or, at `iortgagee's option, sa trustee shall be refunded to ~iort;agor. If,
however, such monthly payments shall not be sufficient Lo pay such items when~t~ie same shall beeorne due
and payable, then the Mortgagor shall pay to the Mortgagee as trustee any amount neces~.g7ary to teaks up
d00K 1 19 PAr,E ~ r~.~
~~ ~ -.~