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• TO HAVE AND TO HOLD tI18 SAMO~ to~ether with all snd singulsr the tenements~ 6ee+edituments snd appur.
tensnceg thureunto belonging or in anyw~se aQpertaining, and the reveraioa and reversiona, remaiader or te-
maindera~ snd also alt the estate, nght~ tit~le, interes6~ homestead. dower and ht ot dower~ aeparste estste~
possession~ claim and demand whatsoever, as well in law as in equitv, of the ssid~fortgagor in and to the same
and every part tbereof, w-ith the appurtenances of the said Mortgagor in and to the same, and every part an~
parcel thereof unto the said biortgagee in fee simple.
The Mortgagor hereby covenants with t6e MortgageE?~ tLat he ie indeteasibly seized of said land in fee
simple or such ot6er eatatet d any ae is atated herein; that he has tull power and lawtul right to convev the si?me
ss alo~aid; that the land ia free ~rom all encumbrances eacept as herein otherwise recited; that seid7biortgagor
will make such further aeaurancea to provo the aforosaid title to said laad in said Mortgagee ae ms be reason-
sblyrequired~ and the?6 said 111ortgagor doee herebp i~ warraat the title to aaid land~ and every part thereot~
and will defend the same againat the law~ful claima of persona whomsoever.
PRO~ IDBD ~LWAYB ~at if the ~iortgagor ahall ~pay unto the Mortgagee thet certsin promiseory note, oi
which the loUowing ia s subatantial oops~ to wit:
i 29,000.00 Fort Pierce , ~1orid~.
August 17 , 19 71•
FOR YALU~ RSCBIYED~ the uadersigned promiae(s) to pay to
Southem Mortgage Associates, Inc. , u oorporation organised and existiug under the
~Re ~ Arkansas ~ or order, the principal aum of 1t~enty Nine Thousand
and 00/100-----------------•----------~~ 29,000.00 with interest from date st
the rate of Seven per centum ( 7~Jo) per annum on the unpaid balance until paid.
The said principal and interest ahall bo payable at the o~ce of
Southern Mortgage Associates, Inc., P. 0. Box 38, Shenandoah Station
~ Miami, Florida 33145 , or at euch other pla~oe sa the holder may deaignate in writing
delivered or mailed to the debtor, in monthly instaQmenta of One hundred nintey three and 14/ 1QIDllars
193.14 commencing on the first day of October 1 , 19 71 , aad oontinuing on the
first day of eacb manth thereafter untii this note is fiilly paid~ except that, if not sooner paid; the final peyment
of principal and interest shall be due and payable on the firat dsy oi September 1 ,~6c 2001
Priv~1ege ~s reserved to prepay at any time, without premium or fee the entire indebtednees or sny part
t.hereoi not leBS than t6e amount of one installment, or one 6undred dollare (=100.00), whichever ia lees.
If sny deficiency in the pavment of any installment under thia note ia not made good prior to the due date
of the next such installment, t~e entire principal sum and accrued inter~t ghAll at once become due and ~ay- ,
able a-ithout notice at the option of the holder of this note. Failwe to exercise thia option shall not oonstatute
a waiver of the right to eaem,~se the same in the event of sny aubsequent default. In the event of default in the
~yment of this note, and if the same ie collected bp an sttorney st law, the underaigned hereby sgtee(s) t~o
psy all costs of collection, including s reesonable ettorney's fee.
This note is secured by mortgage of even dste e:ecuted by the undersigned on c~ertain pmperty deecribed
therein end represents money actually used tor the acquisition oi snid property or the improvements thereon.
Presentment, protest, and notice are hereby waived.
i /s/ Rc~bert J. Taylor, Jr. ~~L~
~ Robert J. Taylor, Jr. ~
i /s/ ~la L. Ta lor '
, x [~l ;
~ Eula L. Taylor
~ ~~L~
[sg~+L]
And shall duly~ promptly, and fully pedorm, discharge, execute, effect, camplete~ and comply with and abide
by each and every the stipulationa, agre~ments, conditiona, and covenaats of ssaid promissory note and of this
mortgage, then this mortgsge and the eatate hereby created shall cesse and be aull aud void.
T6e Mortgagor further covenants sa followa:
1. That he willpa
y the indebtedness, as hereinbefore provided. Privilege is i+e~erved to prepay at any time~
~vithout premium or fee, the eatire indebtedneas or any pnrt thereof not lees than the amount of one installment, or
one hundred dollars (i100.00), whichever ie lesa.
2. In order more fully to protect the security d thia mortgage, the 1~iortgagor~ together with, and in addition ~
to, the monthlypaymenta under the terma of the note secured hereby, on the $rst day of each month until the said
note is fuIIy psid, ~vill psy to the ~1+iortgagee the follo~ving sums: j
(s) A sum equal to the ground rents~ if aay, ne:t due~ plus the pc+emium$ thet will neact become due and payable
on policies of 5re and other hasard ineurance oovering the mortgaged property, plua ta~cea and sse~ment8
~ neut due on the mortgaged property (all se estimeted by the Mortgagee and of which the Mortgagor is
noti6ed) lesa all sums already paid therefor divided by the number of montha to elapee before oae month
~ prior to the dete when such ground rent8, pcemiums, taxes~ and e~asment$ ~vill tiecome delinquent,
suc6 aume to be held by Mortg~geeintnisttopaysaidgroundrents,premiuma,ta:ea,andapecialaseegsmenta.
(b) The aggrEqate of the amounts payable pureusnt to subparagraph (a) and thoeep~yable on the note secured j
herery, ahal! be paid in a single payment eac6 mont6, to be applied to the following itema in the order ~
etated: ~
(I) ground rente, taxea, assesementa, fire, aad other 6asard insursnce premiums;
(II) interest on the note eecure~ hereby; and E
(lII) amortisation of the principal of said note.
An~ ~l~ficiency in tl,e amount o( su~h aK~re~ate m~nthly ps~~ment shall, unlesa made Roocl by 111P ~TOi't- ~
K+~tor priur t~~ thp du~ dale o( lhe m•x1, sucl~ ~a~•n?~•~it, couatii,u6e an ev~~nt oi d~fault un~lt~r this niorlga~e. '
At ~ic,rt;;ag~K~'e optic~n, yortga~~~r will pay s" sle charg~~" not excee~ling four per centum (4°Jo) o( any install- #
ment K•I~en ~,eid m~,re tt,an fift~~•n (15) daya aft~r the due daw~ thc~rec?i to cuver th~ extca ~+xp~•nsr in~ol~ed in !
hsn~ilir,q de in~~uent psj•mE•ntK, but xu~•h "late ~•IiarKe" sl?all not be paysblo out ot tho proc•~~~KI~ of any :~ale '
made to AatiR(y lhp ~ndebtedn~~rs x~cured hereby~ utilex~ auch pracmds are auflicien~ to di~herg~+ the c~ntire ~
iculeblydueas and all proper rost~e snd expec?~ea seeuscid thereby. ~
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