HomeMy WebLinkAbout0214To AArE AxD ro HOLD the same, to~e+ther with all and ain~Ilar the tenements, hereditaments and appur-
tenances thereunto belonging or in anywise appertaining, an~i the reversion and reversions, remainder or re-
Inainders, and also sU tho estate, right, title,. Interest, homestead, dower and ribbl-It of dower, se~arate estate,
possession, claim and demand whatsoever, as weU in bw as in equity, of tho said. Mor goc in an to the same
and every part thereof, with the appllrtenancos of the said Mortgagor in and td, t~~ attil ovel~-_~a?t an~
parcel thereof unto the said Mortgagee In fee simplo. I
The Mortgagor hereby covenants with the Mortgagee, that he is indefeasibl~- aeixcd of said land in fee
simple or such other estate, It any as is statod heroin; that he has lull power and law(ld right to convey the same
as aloresaid; that the land is Tree ~rom all encumbraneoa except as herein otherwise recited; that said Mortgagor
wiU make such further assurances to prove the aforosaid title to said laced in said Mortgagee as may be roason-
abl rreeqquired, and that said Mortgagor does hereby fullyy warrant the title to said land, and every part tliereot,
ant~will defend the same against the lawful claims of aU persons whomsoever.
PROVIDED ALNAYS that it the Mortgagor shall pay unto the Mortgagee that certain promissory note, of
which the following is a substantial copy, to wit:
= 8 , 000.00 Fort Pierce ,Florida .
July 31 .19 69
FOR VALUE RECEIVED, the undersig~Ied promise(s) to pay to the order of the Admiaistcator of
Veterans' Affairs, an Officer of We United States of America, and his successors in such office, as
sudt, and his or Weir asaigps, the principal sum of EI(~iT THOUSAND and no/100- -
---------------------- Dollars(~8000.00 ).
with interest from date at the rate of seven ~ onehalf per centum (7 ~ %o) per annum on the
unpaid balance until paid. The said princippal and interest shall be payable at the ofi'ice of the Loan Guaranty
cer, Veterans Administration Regional O@'ice, in St . Petersburg, Florida , or at such
other pl~ac~e as the holder ma ate in writing delivered or mailed to the debtor in monthly instaUmcnts of
FIi~'1'IC-NINE and 1~~- - - - - - - - - - - - - - -,~ollars (= 59.12 ).
commencing on the S t day of AU$Lis t 196y ,and continuing on the
31st day of each month thereafter un this note is fully paid, exeep0 that, if not sooner
paid, the final payment of principal and interest shall be due and payable on the 31st day ~
J~TLY 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 inst,sllment
due date.
If any deficiency in the pa ent 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 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 exemise the same in the event of any subsequent default. In the event of default in the
payment of this emote, and if the same is collected by sn attorney at law, the undersigned hereby agree(s) to
pay all costs of collection, including a reasonable attorney's lee.
This note is given for purchase money of real estate and is secured by mortgage _ to secure debt of eves
date herewith, given and delivered by the uaderaigned to payee on certain real property described therein.
Presentment, protest, and notice are hereby waived.
State Documentary Stamps in the /s/ LARRY A. RIIIDALL
amount of $12.00 attached t0 - - - - - -"-- ~BEAL~
Larr-- A. Ken~a11-- ------
original and canceled. /s~ KAREN H. KENDALL
- ----------------------- °------- IBEAL~
Karen H. Ken~a1-1-----------------
-------------------------------------------------- IBEALJ
------------------------------------------- ~a~W
And shall duly, promptly, and lolly perform, discharge, execute, eliect, complete, and comply with and
abide by each and every the stipulations, agreements, conditions, and covenants of sod mmissory 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 st an time,
without premium or fee, the entire indebtednere or any part thereof not less than the amount of one instai~ment,
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.
2. Yh 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 secure hereby, on the installment due date day of
each month until the Bald note is fully paid, will pay to the Mortgagee as trustee (under the terms of this
trust as hereinafter stated) the following soma:
(s) A sum equal to the ground rents, if an ,next due, plus the premiums that will next become due and
payable on policies of fire and other haaard insurance covering the mgr sg~ed property, plus taxes
and assessments next due on the mortgaged propeKy (all as estimated the Mortgagee and of
which the Mortgagor is notified) less all sums allrreeaaddy paid therefor divided ~y the number of months
to elapse before one montL prior to the date when such ground rests, premiums, taxes, and aaseas-
ments will beiwme delinquent, such sums to be held by Mortgagee in trust to pay said ground rents,
premiums, taxes, and special assessments. -
(b) The aggregate of the amounts payable pursuant to subparagraph (s) 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, assessments, fire, and other hasard insurance premiums;
(II) interest on the note secured hereby; and
(III) amortisation of the principal of said note.
Any deficiency in the amount of such aggregate monthly payment shall unless made good by the Mortgagor
prior to the due datal of the next such payment, constitute an event o~ default under this mortgage. At
Morigsgee's option, Mort~gagOr will pay a "hte charge" not exceeding four per ceatum (4ofo) of any install-
ment when paid more than fifteen (IS) days after the due date thereof to Dover the extra expense Involved
is handling dell'ngvent payments, but such "late charge" shall not be payable out of the proceeds of any sale
made to satisfy the in ebtedaeas secured hereby, unless such proceeds are auWcient to du>charge the entire
indebtedness sad all proper costs and expenses secured hereby.
3. It the total of the ps enta made by the Mortgagor under (a) of paragraph 2 preceding shall exceed the
amount of payments actually made by the :tiortgagee, as trustee for ground rents, taxes and amessments, and
insurance premiums, as the case may be, such excess shall be credited on s~}t>seclutnt pa3-metzts to be made
by the Mortgagor for such items or, at 4iortgaRee's option, as trustee shall bedrefunded to Mortgagor. If,
However, such monthly payments shall not be sufficient :o pay such items when the rime shall become due
and payable, then the Mortgagor shall pay to the Mortgagee as trustee any amount necessary to make up
600K ~ ~I MBE ~~~