HomeMy WebLinkAbout1342 TO HAY16 AND TO HOLD I,I1C S~I11B~ to~elher with ull und sin~ula~ the tenoments~ hereditamer?ta arid appuc
te~ancNS thereunt~ !•elonging or in snyN~se apper~xining. und Ihe reve~ion snd revcrsions mmsi ~ te-
c
~nainders~ and also ell tho estute~ right~ litle, ~nterest. homeslead~ do~ver snd ri 6•ht "oh ~ry~~ sep~r s ~t~e~
posscaaion. clsim iutd dema.zd whateoever~ as well in ]sw as in equit,y, ot.tho si?id 1~1nrt~w F iA snd to he seme
and every psrt ~l~ereot~ with the appurtPnancea oi the eaid Mo~tgagor in snd to u~e a~mE, aad overy pert unc~
parcel tl~ereoi «nto the said Mortg~gee in tee simplo.
The Mortgsgor hereby oovenants with tho MortRagee, ~I~at he is indefesaiblv se~aed ot ssid l~nd in fee
simple or such olher eststet ~f any. ~s ia stated herein; tha~ he hxs tull power and luw~ul right to convey ~the saroe
aa atores~?id; ths~ the lsad ~s lree trom al! encumbrances except us heretn otherwise recit,ecl; thst said Mortgagor ~
wiU make such turther aesurunces to pmve the otocosaid title w said laad in asid Mortgagce ~s m~Y b6 iCOSOA-
~blyreq uired~ ~nd th~t said Mortgagor doea horeby tully warran~ the faNe to suid land, and ev8ry pac~ thereol~
and ~rill detend ~he same ag~inst the lsw[ul claims ot all persona whomsoeve~.
PROYIDSD AL~?AYB C~lat if the Mortgagor shall pay unto the Mortgag~.~c chat certain pro~nisaory note. o!
which the foAowing is a subatantial copy, to nnt:
i 4, 000 . 00 Fort Pierce ~ Ftorid..
, . October 14 ~ is 69
FoR-VAt.UE RECEIVED, tbe uadersi~ed promise(s) to pay to the order of the Admiastrator of
Veterans' Affairs, aa Officer of the Uaited States of America, end hia successors in such office, as
sqch, and his or theu assi~ns, the pcincipat sum of I~1INE THO~[11SAND end no/100-
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with intereet irom date at the nte of 84veS bc one-h81f per centum ( per annum on the
u~n~psid balanee until paid. The said.principal and interrat~ ahutl be payable st the o~cc of the Losn Gusranty
OA'icer, Veteru~e Admwistsation Regional OA'ice. in St. Petersburg Florida ~ or st such
other pl~ce aa the holder may d ~~e in writing delivered or rn~ile~i to the ae~tor ia monthly inatullmenta oi
Sixty-sixand5110~---------------~?ollars(;6l~,.~1
oommoqcanB on the ~4th dsy oi November , 19 69 , and oontanwng on the
14th dsy of e~ch month t~ereafter ~nW thia aot~e is iully p~id, eucept thst, if not sooner
p:id, the fin~l payment oi principsl a,~?d interest shell t due and p~?yable on the 14th ~Y ~
1994.
Oevt,llobe,~r~ ~ p~psy 8c ~y `~me, withouL premium or fee, the entire indebtedness or sny part
Pri ege
thereof not lesa than the amouzLL ot one installment, or one hundred dollass (i1Q0.00), whichever is lesa. Any .
prepsyment msde on otber thaa aa inst~allment due date wiU not be credited until the next foUowing instaUment
due dste.
If uny de6cieacy in t6e psym ent of any installment under thia note is not made good prior to the due dste
of the next such inatallment, the entire pnucapal sum and aa:rued iaterest ahell st once beoome due snd Fsy-
~ble without notice at the option of the holder oi this note. Fsilure to exercise this option s6aU not oonat~tute
s waiver of the right to eacercise the same in the event of any subsequent default. In the event of detault in the
psyment oi this note~ and if the same is collected by an attorney at lsw, tha undersigned hen+by agree(s) to
psy aU costs of collection, including a reasonable sttorney's fee.
This note ia given for pnrchase money of resl estste aad is secured by mortgsgo to secure debt oi even
date herewith, given aad delivered by the underaigned to psyee on oertsin real pmperty deecribed tberein.
Preeentment~ pmtest, end notire are herr.by w~ived.
. ~s/ _ RUSSELL F._ BZTRNS ISBALJ
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~Stete Documentary stampa iri the Russell F. Burns
amount of $13.50 attached to ~ ___.~.B.j__~~~,gg~__~~__~g~s_________________ [ee,+a
original note ~ canceled. ~ileen F. Burns
' I88AL~
' ~BSAL~
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I And ahsll duly, pmmptly. and fully perform, dischsrge, execute, e8ect, eomplete, aad corflply with and
abide by each and everp ~t~?e atipulstions, ~greements, conditions~ and covenanta of eaid~promiseory note and
~ of this mortgage, then thia mortgage and the eatate hereby created shall cease and be null ~nd void.
The Mortgsgor further coveaaata as folloae: -
1. Thst he will pay the indebtedness~ as hereinbefore pmvided. Privilege ~a reserved to prepsy ~t ~ny tin?e,
~vithout premium or fe~~ the entare indebtedness:or any part thereof not less Wiaa the amount of one ~nat~allment,
or one hundred dollare (i100.Q0), v~hicLever is leas. Any p~repaymeat made an other fLan aa instaUment
dua date will noL be credit~ed unta7 the nert follo~ving installment due dste.
2. In order more fully Zo protect the security of f,hia mortgage, the Mo~r, together wit6, and in addi-
tion to, the monthlp payaQents under the terms of the note secured hereby, oa t e wstallment due date day of
each month until the sa~d nute is fully paid, will pay W the biortgagee as ttustee (under the terms of this
trus6 as hereinaftet stated) t-he follo~aing sums: .
(s) A aum equal to the ground rents, if any, next due, plus the premiu~ns that w71 neat beoome due and
psyable on policies of 6re snd ot6er hazard insurance aovering the mortgag~ed pr~operty, plus tsxes
and aseessmenta neat due Q~ the mortgaged pmp~erty (aU as estimsted-by the Mortgagee and of -
which the Mortgagor is notified) less all sums alresdy paid therefor divided b~r Lhe number of months
r
to elapee betore one month prior to the dste wlien such und rente, premi~ns, tsxes, snd aseess-
ments wiU beaome delinquent~ such auma to be held b~ ortgagee in trus~ to p~y asid ground nnta,
pnmiums, taxes, and apeciAl s~nents.
~ (b) 1'he aggregete oi the amounts psyable pursuant to subpuagnph (a) and thoee payable on the note
secured hereby, ahaD be pud in s single psyment each mont6, to be applied b t6e loUowing it,em~s
~ in the order M,ated:
(I) 8cound rents, taxea, aeeeesmente, Sre, and other hszard inaurance preminma;
(II) iniee+est on tLe note secw~ed hereby; md
(III) amortis~tion oi the principal af said note.
Aay deficien~c~ in the smount of such aggeegate montblv payment sb~ll. unlees made good by the Mortgagor
pr~ior to the due dot~ oE the nezL such payment. coas~itute an event of default under thia mortgs~e. At
Mortgsgee's option~ Mort~agor will psy s"late charg~e" not ezceeding four per centum (4%) ot say install-
ment whea pud more thsn $iteen (15) days atter the due dste thereof to cover the extra expense involved
in hsndlin~g delmquent ptymenta, but sucb ute chsrge ~ ahall not bepa
yable out oi the proceeds oi sny ssle
made to astisty the indebtedness secured hereby, unjesr sueh proeeeds are su~cieat tg d~schsrge the entin
indebtedness and all pmper costs pnd ezpenses securai ~y.
3. If t6e total of the ps~yments made by t~he Mortgsg~or under (a) of psragraph 2 preceding ahall exceed the
amount of paymenta actually made by t6e Mortgagee, ua ttuatee (or gi+ound rents~ ta~ces and aseesaments, ~nd
insurance pnmiums, aa the case may be, such ezcees shall be cre~ited on aubsequent psymenta to be m~de
by the Mort,~agor for such items or, at :1~iortgsgee's option, as trustee shall be to Mort~agor. If~
however, snch monthlv paqmenta shall not be sufticient :o psy auch items wheo ~me shall beo~me due
and payable, then the Mortgagor ahall pay to the Mort~agee as t,~ustee anp amount neces~ry to mske up
~Vt~ P~MCf
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