HomeMy WebLinkAbout0545TO HArE AND To HOLD the same, to~e+ther with 1-ll and singular the tenements, hereditamenta and appur-
tenancra thereunto belonging or in anywise aQpertaining, and the reversion and reversions, remainder or re-
mainders, and also all the estate, right, title, interest, homestead, dower and ri -ht of dower, separate estate,
possession, claim and demand whateoevee, as well in law as in equity, of rho said ~ortgagor in and to the same
and every part thereof, with the appurtenances of the said Mortgagor in and to the same, and every part anc~
parcel thereof unto the said Mortgagee In tee simple. ~
The Mortgagor hereby oovenanta with rho Mortgagee, that he is indefessibl~- seised of said land in tee
simple or such other estate, if any as is stated herein; that he has full power and lawi`~l right to convoy the same
as aforesaid; that the land is free from all encumbrances except as herein otherwise recited; that said Mortgagor
will make such further assurances to prove the doresaid title Lo said land in said Mortgagee as may be reason-
ably required, and that said Mortgagor does hereby fuAy warrant the title to said land, end every part thereof,
and will defend the same against the lawful claims of all persons whomsoever.
PROVrnsa AL~YAY6 that it the Mortgagor shall pay unto the Mortgagee that certain promissory note, of
which the following is a substantial copy, to wit:
i 10, 500.00 Fort Pierce ,Florida .
August 5 , 19 69
FOR VALUE RECEIVED, Ute undersigned promise(s) to pay to the order of the Administrator of
Veterans' Affairs, as Officer of the United States of America sad die successors in each office, as
each, and his or ffieir assigps, the principal snm of TEH THOUSAND FIVE HUNDRED and
n0/100- - - - - - - - -~ - - - - - - - - Dollars (~ ~O 500.00 ).
with interest from date st the rats of seven 8nd one-half per centum ( 7 'bJo) per annum on the
unppaid balance until paid. The said principal and interest• shall be payable at the office of the Loan Guaranty
08'icer, Veterans Administration Regional 08'ice, ui St . Petersbur ,Florida , or at such
other place as the holder racy date in writing delivered or msilecl to the~ebtor in monthly eats of
SEVENTY-S and 60/100- - = ~= - - - - - - - - - ~ollars (s ~~I. ).
commencang on tie -- 5th day of September 196 ,and continuing on the
5th day of each month thereatter until this note is fully paid, except that, if not sooner
paid, the final payment of prinei al and interest shall be due and payable on the 5th day of
August 194.
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 foAowing installment
due date.
If any deficiency in the pa eat 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 ~ay-
able without notice at the option of the holder of this note. Failure to exercise this opption 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 undersigned hen+by 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 _PhiI~I ~~~Pi81t~IS RAY [s6ALJ
a mount of $15.75 attached to P ~`
original and canceled. _/_~l___I~tX_ ~,~- RAY ___________________________ [sEAL]
Mary G. Ray
----°------------------------------------------------•----- [6EA6~
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 said mmissory note sad
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 say 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 lees. Any prepayment made on otter than as installment
due date gill not be credited until the Wert following installment due date.
2. In order more fully to protect the security of this mortgage, the Mor r, 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 as trustee (under the terms of this
trust as hereinafter stated) the following sums:
(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 hazard insurance covering the mor property, plus taxes
and assessment8 next due on the mortgaged property (all as estimatedthe Mortgagee and of
which the Mortgagor is notified) less all sums already paid therefor divided ~~ the number of months
to elapse before one month prior to the date when such ground rents, premiums, taxes; and assess-
meats will become delinquent, such soma 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 (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, lases, asseasrnents, fire, and other hazard insurance premiums;
~(TI) interest on tLe 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 date of the next such payment, constitute an event of default under this mortgage. At
1Vi 'a option, Mortgagor will pay a "late charge" not exceeding four per centum (4%) of asy install-
men~n paid more than Titteen (15) days after the due date thereof to Dover the extra expense involved
in handWig del'~ngvent payments, but such "late chugs" shall not be payable out of the proceeds of any sale
wade to satisfy the indebtedness secured hereby, unless such proceeds are sufficient to duicharge the entire
indebtedness sad all proper costs and expenses secured hereby.
3. If the total of the pa ants made by the Mortgagor under (a) of paragraph 2 preceding shall exceed the
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 Mortgagor for such items or, at Mortgagee's option, ss trustee shall be refunded to Mortgagor. If,
however, such monthly payments shall not be sufficient :ao~pay such items when the same shall become due
and payable, then the Nport fagor shall pay t g)oo~ ~M 1 t7 YAGE ~t any. anPutuk, geOe~Y to make up