HomeMy WebLinkAbout0644 The 1ldortgagor hei~ebp covenante with the AiartgegeP, that he i~ indeteasibly seir.ed oi ssid land in fee
simple or such otber estntei if aqq ss ie af~ted hesein; that ho hsa tull power and lewiul right to oonvev the same
•e atoresaid; that lhe tuid is iree ~mm uU encumbrances a~ccept as 6erein otherw~ae reciteci; thwt aaid7ldorlgeg~or
will make auch tur~.her aasuranoes to pmvo the aforessid title to said luad ia suid Mort{;agee es nn~y be re~n-
ab1yreq uiced~ snd tha6 said Mortgsgor doee hereby fully wi?rrant the title to said lsnd, snd every part thereot.
and will defead the s~me ags?inat the lawtul claims oi ~11 pareous whomsoever.
Paovtnso ~1Lw~Ye that ii the l~iactgagor ahall psy unto the Mortgagea that oe~tsin promissory note. oi
w~ich the folloNing is a subetantiel oopsj to wit:
= 29 ~ gpp.00 Me lba.irtie , ~lorids.
Ju~jr lst ,19 71 .
,
FOR YALL`E RECiIVSD~ the undersigaed promiae(s) to psy to '
STOC~N, WHAT~Y, DAVIld & COiQ'ANY
, , s oorporation organised snd e~osting under the
le?ws af the United States ~ or order~ the principal sum of TZ~NTY-H~ THaU`',,AND= EIGHT ~TNDRID
and NO/100 - - - - - - - - - - - - - Dollars (t 2g ~ t300.00 with interest from da?te st
the rate of Sev~en per centum ( per annum on the unpaid batance until paid.
The said principal and interest ahall be psyable at the o~ce of
~TOCZCTCg'i, WHATLEY, DAVIId & COMPANY
~ J~~sonville ~ Florida , or at such other plswe as the holder may dPSignate in .vriting
delivered or mailed to the debtor, in monthly instal(menta of Ot~ H[JNDRID NII'~."~Y-EIt~1T & l~7,h00 Boilars
1~.47 commencing on the first day of September , 19 71 , and continuing on the
first day of each month theresfter until this nots is fully paid~ except that, if not aooner paid~ the final paymer.t
of principal and interest shall be due and peyable on the first day of J~,y ~ 2p(~1 .
privilegs is reserved to prepay at any time, vvithout premium or fee the entire indebtedneea or any part
thereof not less than the aznount of one uistallment, or one 6undred dol~ars (3100.00)~ whichever is less.
If anr deficiencs in the payment of any installment under this note is not mede good prior to the due date
of the next such installmeat, the entire principal sum and accru~d interest shall at once become 3ue and ~ay-
able ~rithout natice at the option of the holder of this note. Failure to eaercise this option shall not const~tute
a w aiver of the right to exercise the same in the event of anv subsequeut default. Ia the event of default in the
payment of this note, and if the same ia collected by an attorney at lavv, the undersigned hereby agrE+e(s) to
psy all costa of callection, including e reasonable attorney's fee.
T~his note is secured by mortga~_e of e~en date e.~ecuted by the undersigne.d on certain propertv described
therein and re~?resents money actually used tor the ecquisition of said property or the improvemente thareon.
Preaentment, protest, and noticp, are hereby waived.
. /s~_Alton Garland Cox, Jr., also______ ~~L~
~ known~as A1ton G. Cox~ Jr.
/s~.Patricia M. Ccx _
i [s~?L]
~
~ And shall duly~ promptly~ and fully perform, discharge, execute, effc~ct, complete, and compl~ with and abide
~ by each and every the stipuletioas~ agreemeats, conditions, and co~enants of .aid promissory note and of this
~ mortgage. then this mortgage and the estate hereby created shall cease and be nuU and void. ;
~ The ~iortgagor further covenants as follo~rs:
6 1. That he wil! pay the indebtedness~ as hereinbefore pro~7ded. Pri~7lege is reserved to prepay at any time,
~ without premium or fee~ the entire indebtedness or any part thereof not le~ than the amount of one installment, or
one hundred doltars (i100.00), ~rhic6ever is less_
2. ln or~iPr n~orP full~- to pmt~~~~t thr ~~~~•urit~• ~?f thi~ nu~rt~a;.•F•. t!u• ~l~~rt~;a~.•~?r. to~;~~th~•r Kith. and in
a~i~iitiun t~?. thc~ m~nthl~- pe~-nit~t?ts undc•r tl!~ ~rnuc ~~f thf• not~~ :~•~•un•~i h~•r~~b~-. ut~ th~• tint ~1:~~- of ra~•h month
u~?til th~~ :ui~l nut~~ i~ fttll~- p:~i~l. ~~-il! pu~ t~? thr ~I~?rt~;u~~•~~. tr•- ,un~l~~r~ih~• ~rrn~• ~~f ihi: tru~t a: h~~c~~in-
- uft~~r ~t~trd~ ti~~~ f~?11~~~-inK ~~t:ii.:
(a) A sum equal to t6e ground rent9, if any, next due. pius the premiums that v~ill next become due and pa~able
on policies of fue and other hasard insurance coverin~ the mortRaqed property~ plus txxes and a~.,cs:~cnents
next due on the mortgaqed property (all as estimatcd by the ~tortgagee and of which the ~1ortRaRor is 3
noti6ed) Iesa sll sums alc+eady patd there(or divided by the number of mcu~ths to elapse before one month
prior to the date w6en such ground rents, premiums, taxes, and e~essments wiU become dclinquent,
such sums to be held by :~tort$agee in tnist topay said ground rent premiums, taxes, and special a,~c~•ments.
(b) The aggregate of the amounts payable pursuant to subparagraph (a) and thu~e payable on the note sccured
herebx, ehall be paid in a single payment each month, to be applied to the fullowinR items in the order
~ siated : `
~ (I) groune~ rents, ta~ces, a9..~menLe, firP, and other hasard in5-urance premiums; ~
(II) interest on the note secured 6ereby; _an~'
(III) amortisation d the principal of said note. ~
~ An~ deficiency in the amount ot sucha~ re~ate monthl~ pa~ment shell, unlc~.g made Roai b~• the ~1~~rt- ~
~ ga~;or prior lo tl~e due Jale of the next ~iirl~ pe~•m~nt, ~-onstitute an r~ ent of de~ault und~r this mort{;n~e. :
~ ~1t ~iort~a{;ec's option, Mort~agor will pa~ a"latc cl~a~~~" nol, c~cc~~iing [our p~~r c~ntum (~4~'Jo) nt an~• in.tall- i
` ment w~hen paid more than Sf•~~•n (15) da~•s after the du~• ~late th~reot to co~cr the e~trei e•xp~•n.~~ in~•oh•~~d in f
~ handlinR delinquent Pay•ments, but such "late chary;e" shall not, be pa~at>le oc~t of tti~ pra•~•rds o! x~iy ~al~
~ made to ~atisft• the ~n~lebtrdn~ ~ured iiere~b~, unl~s.c su~h pmcerds are su(licient 40 ~1~srhar~~~ thr i•ntire
~ indebtednt~ss and all proper costs and exp~nses secwni thereby.
~ I( th~~ totel ~~f th~• px~~uu•nl~ n~t?~I~~ h~- th~~ ~1urt~:ti~:ur un~l~•r (a) ~~f ~?nru~r~iph Y prr~•~•~lin}~ sht~ll ~~~r~•~~il
th~~ iun~?w?t ~?f pe~-iu~•nt. artu~~ll~- n~a~le• 1?~' I~u~ 11ort}~uR~~~•. i?.c Iru.t~~~•. f~~r ~r~~ui~~l r~•nt.. tux~~: i~n~l +~.•c~~•.•tn~•nt::.
~ an~l in;urun~•~• pr~~ii~iuii~., u. ~h~• ~~a.~~ nu~~-~1N~. 3i1PI1 PXl•~•s.K ~I~:tll tx• rrr~lil~•~! ~~n sul?w~•~~n~•nt ~~n~-in~•nt:~ t~ tN• n~a~lr
t,~- th~• ~1~?rt}~akur f~~r ;w•h ilrnis ~~r. a~ ~1ortKN~;~~P's ~?ption, a~ trusl~•~~. .hull IN• rrfun~l~•~I t~~ ~1~~rt~;eK~~r. I(.
- how~~•~~t~r. ww•li n~~~nclil~- p~~~~n~~•nt: ,I~all n~~t iN• ~ufli~•i~~nt pi?~- surh it~~ni. a•h~~n thr srtnir .h,~ll IN•~•o~n~• ~lu~•
and pts~~al?i~•. th~~t~ lh~~ ~1~?rt~a~;~rr •hall p~~~- to th~• ~I~?rtK~i~;~v. u~ tru.t~•~•. ~u~~- unu~um t~r~•~~..v,~r~• ti~ t~iak~~ up
thr ~l~•(irirnr)~. 1u~h pH~'ni~•nt sl~all h~• nuulr Within Ihirt}- f:{~I) ~In~-K uft~~r ~ccitt~~n n~?ti~•r fr~nn t~u• ~`.+~rtKa~?rr '
~ statin~ the amount of th~ defi~~i~nc}•, whirh notic~• n~sy be ~i~•~n 1?~~ mail. i! at any Li~n~ th~~ ~tort{~or shall ~
~ ~j A
~ ao~?~ 194 Q44
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