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Home My WebLink About2286 The Mortgagor bereby aovenanta with the Mortgsget~, thst he ia indefea.giblv seized oi said land in fee eimple or such other eetatet d any as is st~ted herein; that he hus tull power snd lavvful right to oon~ev the sRme as sior~aid; that the land is iree ~rom ~11 encumbranc~ except ae herein otherwise recited; th~t ssid~lSortgAgor wil! make such further aeauru~cea to pmve the Joreeaid tit1R to said land in said Mortgagee as mey be reason- ablyrequir~l, and thst said Mortgagor does hereby fully ~rurant tLe title to said land. and evory part thereof~ and will defend the same against the lswiul claima oi all pereons whomsoever. PROVinsa AL~v~Te that if the !1lortgagor ahall pay unto Lhe Mortgagee that certain promissory note, ot ~vhich Lhe follow~uig is ~ substantirl oopf, to wit: = 32 , 500.00 Fbrt Pierce , Florida, January 12 ,1g12 . FOR YALII~ ASCBIVZD~ the underaigaed pmmise(s) to pay to ~ J. T. STH~~RT MO~CGJUGB CO[~ANY, ZNC. ~ s~~mtion organi~d and eaisting under the 1s~ve of State of P'lorida , or order, the principal sum of TNZIrTY '1~T0 THWSAND FIVS HUNDRSD ______.._~______Dollara (i 32,500.00 ~th interest from date at 71IdD NO/100----------- tbe rste of per centum ( 7~Jo) per sanuan on the unpaad balance uni,i paid. (~e asid principal and interest ahall be payable at the office of J. T. Sl'~il1RT MO~tT('~AGS CQI~ANY, INC. Suite 3p0 - 1~0 Miracle lHile - ~ Coral Gables, F3orida , or at auch other pla~ #a the hddqr may designate ia ~vrit~ng delivered or mailed to the debtor, in monthly installmenta of ~}~dred Sixteen aund 45/100-- Dollars 216.45 ~~~cing on the first day of February , 18 72. and continuing on the 6rat day of each month thereeiter until thia note is fully paid~ ezcept thst, if not sooner paid, the final payment oi princapsl and interest shall be due and payable on the first day of January , 2002 priv~'1e~e ~a reserved to prepay at any time, without premium or fee, the entire indebtednese or any psrt thereof not leas than the amount of one installment, or one hundred dollars (=100.00), whiche~er is le.sa. If any deSciency in the payment 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 ~sy- able without notice at the option of the holder of this note. Failute to exercise this option ahall not oonstitute a w aiver of the right to exemase the ssme in the event of any subeequent de;ault. In the event of default in the payment of t~is note, and if the same is collected by an attorney at law, the undersigned hereby sgree(s) to pay all cwsta of collection, including a reasonsble sttorney's fee. This note is secured by mortgage of even date executed by the undersigned on cartain property described therein and represents money actually used for the acquisition oi said property or the improvementa thereon. Pree~entment, pmteat, and notics are hereby waived. ~ ~ ~ ~ ~ ~ f ~ ~c:..~.~sf~ 11~ [3SAL) - Everett E~J~~~cDonald _ i . [s~r?~] ~ - [~l , ~ ~ ~ [s~?L) ; a ~ And ahall duly~ promptly, and fully perform, discharge, execute, eRect, complete, and comply with and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this 'R mortgage, t~ this mortgage and the estate hereby created shall cease and be null and void. The Mortgagor further covenanLs as follows: ~ 1. That he will pay the indebtedness~ ss hereinbefore provided. Privilege is reserved to prepay at suy time, without prem~ium or fee, the entire indebtedness or suy part thereof not leas thaa the amount of one installment, or ry5 one hundred dollars (i100.00), whichever is less. ~ 2. In order more fullz• to pmtect the $ecurit~- of this n?ortgage, tlie \lortgagor, t,ogether with, and in r addition to, the monthl~- pa}-n~ents under the tenns of the note se~ured herebr, on the first da~' ot each month until the said note is fu~l~• paid, v?•ill par to ihe 1fort~agee, as trustee, (under the terms of this trust as herein- ~ after staieci> the following sunis: ~ (s) A sum equal to the ground renta, if any, next due, plus tbe premiume thst will next become due and payable an policiea of fire and other hasard insurance covering the mortgaged property, plus taxes and assessments ~ ne~ct due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is notified) lesa all sums already pa~d therefor divided by the number of months to elapee before onemonth ~ prior to the date when such ground rents, premiums~ taxes, and as~ssments will become delinquent, ~ ~euch sums to be held by Mortgageeint?vsttopaysaidgroundrents,premiums~ta~ces,andspecialas~essments. _ (b) The aggregate of the aonounta payable pursuant to subparagraph (a) and those payable on the note secured j hereby, ahall be paid in a single payment eac6 month, to be applied to the following icems in Lhe order - stated : ~ (I) ground renta, taxes, assessmeuts, fire, and other hasard insurance premiums; ~ (II) interest on the note secur~d hereby; and - (III) smortization of the principal of eaid note. Gi Any deficiency in the amount of suchag~ regate monthly payment ahall, unlesa made good by the l~iort- ' gagor prior to the due date oE the next $uc}~ pa~ ment, constitute an event o( default under this mortgaf;e. - - At;tortgagee's option, Mortgagor will pa~• a"late charge" not exceeding foitr per centum (4%) of any install- ment when psid more thea Sfteen (15) days after the due date thereof to cover the extra expense involved in handling delinquent pa y•ments, but such "late charge" shall not be payable out ot the proceeds of any sale made to satisfy the ~ndebt~edness secured hereb~, unless such proceeda are sufficient to d~scharge t,he entire indebteduess and all proper costs and expenses secured Lhereby. - 3. If the total of the pa~-inent~ n~adr h~• the ~1ortKeKor under (a) of para~raph 2 precedin~ stiall exceed - the aniount of pa~-ments ac•t~a11~- n~ade b~• the ~lortgeKt~e, as irustce, for Kround rents, taxes and assc~ssments, = and insuranc~ prnmiun~s, as the case ma~~be, such excess st?all be cre~iited on subsequent pa~•ments to be made ~ _ b~• thE~ ~iortga~;or for su~•h itenis or, at ~'tortgagee's option, a.5 troste~~, sl?all be rnfunded to :~tortgagor. If, = however, such n?onthl~- pa~-mc~nts shall not be suffii~ient to pa~• su~•h items when the same shall becom.~ due and pa~-eb1e, then the ~1ortKagor sLall pa~- to the A1ort~a~ee, a.5 trustee, an~- amount necessar~~ to maKe up thc~ de~ic•ienc}-. Su~h pa~-rnent shall be mude within thirl~- (30) da~-s after written notice frorn t}~e ~iortga~ee - stating the amount of tt~e deficienc~, which notice may be given by msil. If at anp time the Mortgagor a6a11 - ~t~~x PAcF~~~ ;