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Home My WebLink About0345 i The Mortgagor hereby oovensnts witb tha Mortgegee, that he is indefeaaibl eeued oi said lsnd in fee simple or such other estetei if sny se is ststed herein; th~t he Lsa tull power and ls ul right to convev the anme •e atoresaid; that the land ia iree ~rom all encumbrances escept ss herein otherwise recited; thst saidlVlortgagor will make such further aesunncee to prove tha nioressid title to said land in eaid Mortgsgee sa msy be reeson- ablyreq uired, snd thot s~id Mortgagor doee hareby fully ~vuran~ the title to asid land~ und eveuy part the~eot~ ; aad wiU defend the same sgainet the lawful clsims of aU pereona whomsoever. ~ PROVIDED ALWAYB thBt lf ~8 I~~OTEg'Ag0! 8bLU pby UIILO ~lA MOI`~8gep ~6L l~Tt81II pl'OII11880ly i10~~ of °1 which Lhe lollowing ia a aubstant,ial oops~ to ~vit: i i 16,500.00 Ft. Pierce, , Florids. ! March 2, .1~j2 • ' ~ FOR VALIIS R.zCSIYSD~ the unde~ed promise(a) to p~y to ! First Federal 3~rings and Loan Association of Tndian River Ooumty ~ , s oorpon?tion organised and e~ostiog under the ~ la~vs of Floridm ? or order, the principal eum of Sizteen Tl~ousand Five HU~ulred ana xo/ioo n~ c= i6,5oo.00 ~c~ ~?~~t rro~ aac~ at i the rate of ~ven and ~ree~Fota'tl~s p~ oentum ('j 3~l}%) per aanum on the unpaid balance until paid. The said principal and intereat ehall be payable at the office o~ g~gt Fed~eral 2045 14th Avenwe ~ Vero Beach~ F]~oacida , or at such other plsoe as the holder may d te in ~re~iting ~ delivered or mailed to the debtor, in monthly installmenta of Qae Htuldred Aine e~nd ~00 Dollars j (:1p9.$9 commencing on the fi~st dsy of M~y ~ 19'T2 , and oontinuing on the i firat day of each month thereafter until this note is fully paid~ exoept thst, ii not eooner paid, the final payment ' of princapal and interest ahall be due and payeble on the firat day oi pp~31~ 200'2. , . privi],e~te ia reserved to prepay at an, time, withou6 premium or fee the entice indebtednees or sny pu~ tliereof notlees than the amount of one inatallment, or one hundred dol~ara (i100.00), wluchever is lesa. x i: If any deficiency in the paym ent of any inatallment under this note is not made good prior to the due date i~:.,~ of the next such installment the entire principal sum and accrued intereat shall et once become due and pay- * t able without notice at the option ot the holder of this note. Failure to exercise this option ahall not conat~tute a waiver of the right Lo eaercise the same in the event of sny subsequent default. In t he eveat ot default in the i; payment of thia note, and if the same ia collected by sn sttorney st law, the underaigned hereby agree(e) to • a ~ pay all coata of callect~on, inclnding s reasonable attorney s fee. - ' Thia note ia eecur~d by mortgage of even date eaecuted by the undersigned on oertain property described f therein and representa money actuallp used for the acquisition of eaid pmperty or the improvemeuts thereon. i - . ' ~ Presentment, pmtest, and noticA are hereby waived. ~ ~ ti Cha~les E. Mace ~S~ ~ ~ ~ ; ' t~a~ r-~es~ce „ ~ f 3hirley Z. Nace /S/ [ ~ ~ , s~L ^ 3hirley L. l~ace ~ • ~ - ~ f { And shall• duly~ promptly, and fully perform, discharge, execute, eHect~ complete~ and oomply with and abide 6 by each and every the stipulations, agreements, concLtions, and covenants of said promissory note and of thia ; mo*tgage, t6en this mort$age and the estate hereby created shall cease and be null and void. ~ The Mortgagor further covenants as follows: 1. That he will pay t6e indebtedness~ as hereinbefore provided. Privilege is reaerved to prepay st any time, without premium or fee, the entire indebt~ecinees or any part thereof not less than the amount of one installment, or one hundred dollare (3100.00), whichever is less. ~ 2. In order more fu11~- to protect the securit~- of this mortgage, the ~tortgagor, togetlier with, and in ~ addition to, the monthl~• pa~-ments under the tenns o( the note securnd hcreb~, on the first da~ of each month m~til the suid notc is full~- p~id, will pay to ihe ~iortgagee, as trustee, (under tJie terms of this trust as herein- after stated) the follovving sun~s: ~ (s) A sum equal to the ground rente, if any~ next due, plua the premiuma that will next become due and psysble on policies of fire and other basard'meuraace oovering the mortgaged property~ plus taxes and assessments ~ next due on the mortgaged property (all ae estimated by the Mortgagee and of which the Mortgagor is notified) less all sums alresdy paid therefor divided by the number of months to elapse befor~ one mont6 ~ prior to the date when suc6 ground rents, p~+emiums, tgxes, and ass~sments will beoome delinquent, ~ such suma to be held by Mortgsgeeintn~sttopsysaidgroundrents~premiums,taxes,andspeciala~essments. ~ (b) T6e aggregste of the amounta able pureuaat to subparagraph (a) and thosepaysble on the note secured ! ~ hereby, shall be paid in a~e psyment ~ month, to be sppl~ed to the f~llo~ving itema ia the order ` ~ stated : ~ (I) 8round rents, taxes, as~smenta, fire, itad other hasard insurauce premiuma; (II) intereet on tbe note eecured hereby; and ~ (IIn amortisation of the principal of eaid note. ~ ~ Any deficiency in the amount of suchaggregate monthly payment aball, unless made good by the Mort- } gagor prior to the due date o[ the next such paymenC, const~tute an event of default under this mortgage. ;3 At l~iortgagee's option, Mortgagor will pay a"late charge" not eaceeding four per centum (4°Jo) of any install- ment when paid more than fifteen (15) days atter the due date thereof to cover the extra expense involved in handling delinquent payments, but such "late charge" shall not be payable out of the proceeds of any sale made to satisfy the indebtkdness secured hereby, unless such proceeds are auH'icient to discharge the en~ire indebtedness and all proper costa and expenses secured thereby.. .=y 3. If th~ total of the pa~-ments made b~- the ~iortgagor under (a) of para~;raph 2 preceding shall exceed the amount of pa~•ments actuall~- mad~ b~- t~e :~tortgagee, es trustee, for gmund rents, taxes anci assessments, ~3 and insurance premiunis, 8,4 ~I1P C83P 1118~' ~f, such excess shall be credited on subsequent pa~'ments to be made ~ b~- the ~'Iortga~;or for suc•h itc~ns or, at ~iortgagee's option, as trustee, shall be refunded to Mortgsgor. 1f, - however, suc}~ ~nontl~l~ pa}-ments shall not be s~ffecient to pa~• such items when the same shall become due and pa~-able, then tt~e ~iort~agor shall pa~• to the~iottgsgeA, as trustce, an~ an?ount necessarv to make up ~ the de~i~ienc~-. tiuch pa~•ment sl?all be ma~1e within thirt~ (30) da~-s a(ter written notice from the Mortgaf;ee ~ stating the amount of the deficiencv, which notice may be given by msil. If at eny time the Mortgagor ehall ~ 20~ ~ 345 _ _ _ . . . _ - . ' - fi - : a; k. ~ - - ~ ~ ' : ~ ~ . , . . . ~ 'i . xDie^