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Home My WebLink About0406 The Mortg,igor hereby covenants with the Mortgagec~~ that he is indeleacibt seized oi said land iti (ee t ( simple or such other estatet d any as ia atated herein; Lhat he has tull power a~id la ul right to convev the as~me as afaresaid; that the laad ~s iree from all encumbrances eaccept as herein otherwise recited; that said Mortgagor ~ will mske such furt,her asawrance~ to provo Lhe aforesaid title to said land in said Mortgagee as may be reason- eblyrequired, and that said Mortgagor does hereby fufly warrant the tiWe to said land, and every part thereof, and will defend the same a,gainst the lawful claima of nll persona whomsoever, PROVIDED ALw~ve that if the ~iortgagor shall psy unto the bfortg~ee t~et certain promisaory note~ oi which the following is e eubatantial oopp~ to wit: : ~ ~ 3~ • ~ Fort Pierce ~ F7oride~, December 10 . 19 , FOR VALUS RECEIVED~ the unders~ned promise(s) to psy to SOZFi~AST MORTGAGE COt~SPSP~INY' , a corporation oiganised and laws of FL~RIlaA or order the ~Dg ~der the , ~ principal sum of EIEVF.N ~IJSAND Tf~."E HUNDRID AND N0~100 Dollars (f 11,306.00 with inter+est from date at the rate of aEVF.~t per centum ( 7~Ja) per annum on the unpaid balaace until paid. The said principal and interest shall be payable at the office af SOiPI~EAST MORZGAGE COMPANSC 75 Southeast l~+th Street ~ hLU~NiI, FIARIUA , or at suc6 other plaoe as the holder may designate in writing delivered or mailed to the debtor~ in monthly installments of ~ll~ s~.v~~r-F~ Arm - 26/100 'TS~~ commencing on.the first day of , 197~ , and contwuing on the first day of e~ach month thernafter until this note is fully paid~ eu~cept that, if not eooner paid, the final payment oi principal and interesL shall be due and payable on Lhe first day of J~y , 2pp2 , Privile~e is reserved to prepay at an~? time, without premium or fee the entire indebtedness or any parL thereof not less than the amount of one installment, or one hundred dol~ars (E100.00), whichever is less. If any deficiency in the payment of any instsliment under this note is nof, made gnod prior to the due date of the next such installment, the entire princapal sum and accrued interest ahall at once hecome due and ~ay- able ~ciLhout notice at the op'on of the holder of this note. Failure to exercise this option shall not constitute a w siver of the right to exercise the same in the event of an~ subsequent default. In the event of default in t6e pafinent of this note, and if the same ia collected by an attorne~ at law, the undersigned hereby agree(s) to pay all costa of collection, including a reasonable attorney's fee. This note is secured by mort~age of even date executed bq the undersigned on certain property described therein and represents money actually used for the acquisition oi said pmperty or the improvements tb.ereon. Presentment, protest, and noticR are hereby waived. [s~?L] ~ GARY I~E r~XWEI.I, ~ ~ _ [s~l ~ f - [sB,U,l ' WIl~TIFRF~D M. MlAXW~IZ - [s~L] ~ And shall duly, promptly, and fully perform, discharge, execute, etiect, complete, and comply with and abide ~ by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of thia mortgage, then this mortgage and the estate hereby-created shall ce.ase and be null and void. The l~iortgagor further cotienants as follows: ` 1. That he will pay the indebtedness, as hereinbefore pmvided. Privilege is reserved to prepay at any time, i without premium or fee, the entire indebtedness or any part thereof not less than the amount of one installment, or one hundred dollars (i100.00), whichever is tess. In ord~~r rnor~• fuUr t~~ prot~~e•t t}u~ se•curit~- of th~ti uiortgn~r, thi• \1~~rt~ak•or, tog~~th~r e-ith, and in u~l~liti~~n t~?, tl~~~ montl?l~- pa~~•nu~nts uncl~~r th~~ t~rn~~ ~~f t}?r nott~ ,~~•ure~l h~~rch~-. o~i the fi~t dn~- of eacl? i~iontl? ~n?:il ih~• ,ui~l not~~ is full~- pui~l. a'ill pu~- to ih~• ~1ort~;a~:rr. ac trust~~c~, lundt~r th~~ t~•rnis of this trttsl us ticr~in- :~ftrr ~tat~~~ll ihr f~?1lo~~-inr suii?s: ` (e) A sum equal to the ground rents~ if any, next due~ plus the premiums that wil! next become due and payable on policies of fire and other hazard insuraace covering the mortgaged property, plus taxes and a,gsessments ? next due on the mortgaged property (all as estimated by the biortgagee and of whic6 the ~tortgagor is notified) less all sums already paid therefor divided by the number of months to elapse before one month i prior to the date when such ground rents, premiums, taxes, and assessments will become delinquent, such $ums ta be held by MortgageeintrusttopaysaidRroundrents,premiums,taxes,andspecialas.sessments. ! (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 be applied to the following items in the ocder stated: (I) ground rents, taxes, assessments, fire, and other hazard insurance premiuma; (II) interest on the note secured hereby; and (III) amortiaation of the princip$1 of said note. Any deficiency in the amount of suchag~ regate monthly pa~-ment shall, unles.4 made goal by the :1'Iort- ga~;or prior to the due dete o[ the next suc{i pe~•ment, const~tute an event of detault under this mortgage. At ~tort.~a~ee's option, Mort~agor will pa~• a"late cl~arge" not exceeding four per centum (4°Jo) of an1- install- ment u•hen paid more tban fifteen (15) da}~s after the due date thercof to cover the estra expense in~•ol~ed in handlin~ dE:linquent pa ~ments, but such "late charge" shall not be payable out of the procecds of am~ sale made to satisf~ the ~n~ebtedness secured hereby, unless such proceeda are suff'icient to discharge the entire indebtedness and all proper costs and expenses secured thereby. :3. !f tl~r to1fl) of ih~~ p:;~-nu~r?t~ n~a~l~• b~- thc• ~Ioriku~;or und~r {a) of ~>arvkrupl~ r~~~edin~; shall exceed th~~ au?uut~t of pa~-~n~~nts a~•tuiill~- ina~l~• }~r tlu~ ~lort~;u~;~~~~, :~.s trust~~~~. for ~?rounil r~~nts. ~c~s an~l ~ssc~*cm~nts, an~l insurun~•~~ pr<~niiuni., ns ihi• ~•~ise~ in~~-~be. such exc~•s.~ shall b~ cr~~ditc~d on sul~~~yuc•t pa~-ments ta be made t?~- th~• ~fart~:u~;or for su~•h it~~ni~ or, nt ~tortgagc~~'s option, as trustec~, shall b~ r~•f d~d to `1ort~rigor. If, ho~re~~~~•r. su~•h nionthl~- pa~-ni~nts sl~all »ot b~~ sufTi~•i~nt to pti~- suc~h it~~ms ~~•hen t ~ san~e sliall bc~come du~ aud pu~-ublr, ih~~n lhc~ ~tort~;a~or sluill pa~- to th~• ~fortgt~~~~~, i~,s tnistc~, ~u~~- amount nc~c:~ar~• to make up th~ d~~fi~•i~•nr~-. tiu~•h pa~-in~~nt sl~ail h~ n~:ul~~ H•itf~in thirt~- (:{0) da~-. after K-ritte~n noti~e fron? t~~e itortgagee stating t.i~e amount of tl~e deficirnc~, ~el~ich notice mas be given by mail. If at any timc• the Mortgagor st~a11 800~ 190 PAGc 4~