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Home My WebLink About1043 J l The Mortgegor hereby covenante with the Mortgager~ thst he is indeiea.Qibly aeued of said land in fee eimple or such other estats; if any aa is stated herein; that he hsa full povrer and lawiul right to coavev the snme as atoresaid; t,hat the land is iree ~rom sll encumbrences eucept ss herein otherwise recited; that ssid~iortgagor ~ will make such further esauranc~es to prove the aforeseud title to aend land in said Mortgagee as may be re~son- sblyrcquired, snd thet said Mortgagor does hereby fully warrsnt the title Lo said laud~ snd every part thereof~ ! snd will defend the same against the lavriul claima oi all persona whomsoever. ~ ~ Pnov~nan ALw~ye that it the ~iortgagor sball psy unto the Mortgagee that ce~tain promiasory note~ oi ' which the following is a substsntial cops~ to ~vit: s = 11.000.00 Fort Pierce , ~ori~, ' March 3 ~ 19 7 Z. ; ~ FoR Vw~.va Racsivsn, the undereigned pmmise(e) to pay to = i J. T. STEWART MO~RTGAGE COMPANY , INC . , s corporation orgsni~d and ezisting under the ~ ~ lsws of State of Florida ~ or order, the principal sum of ELEVSN THOtJSAND AND NO/100 ' Dollars (i 11, 000.00 with iaterest from date at the rate of seven per centum~ ( 7%) per annum on the unpaid balance until paid. The said principal and intet~est ehall be psyable at the o~ce of J, T. STF~ART MORTGAGE COI~ANY, INC. Sliite 300 - 100 trliracle Mile ~ in tCoral Gables, Florida , or at such other p1aoE as the holder may designate in writing delivered or mailed to the debtor, in monthly installmenta of Seventy Three and 26/100------- Dollare 73.26 commencing on the Srst day of April , 19 72, and oontinuing on the 6ist dsy of esch month thereafter until thia note is fully paid, eacept thst, if not eooner paid, the final peyment oi princapal and interest ahall be due and payable on the first day of lYlarch , 200~ privil'ege is rEServed to prepay at any time. without premium or fee the entire indebtednees or any part thereof not lees thsn the amount of one inatallment, or one hundred dol~ara (i100.00), whichever ia lesa. If sny deficiency in the paym ent 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 ~ay- able without notice at the option of the holder of this note. Failure to eaercise this option shall not oonstatute a waiver of the right to eaercise the same in the event of any subsequent defsult. In the event of default in the payment of this n~te, and if the same ia collected by un sttorney at laa, the undersigned hereby agree(s) to pay all cwsta of collection, including a reasonable attorney's fee. This note ia secured by mortgage of even date eaecuted by the underaigned on certain property described thecein and representa money actually used for the acquisition of eaid pmperty or the improvements thereon. ~ Presentment, proteat, and notice are hereby waived. ~ ~ ,~~w _ ~ _ [~,l Eric Eugene oung _ [SBAL] [3BAL] [38AL] ~ And s6all dul rom tl and full rform disc e eacecute eHect com lete and com 1 with and abide Y, P P Y. Y Pe , ~6 , , , P ~ P Y by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of thia mo*tgage, then this mortgage and the estste hereby created shall cesse and be null and void.. The lblortgagor fnrther covenants as follows: ~ 1. That he will pay the indebtednesa, as hereinbefore provided. Privilege is reserved to prepey at any time, without premium or fee, the eatire indebtedness or any part thereof not lesa than the amount of ~?e installment, or one hundred dollars (i100.00), whichever is leas. 2. In order more full~- to protect the securit~ of this inortgage, t}ie :~iortgagor, together with, and in addition to, the i~iontlil~- pa~•ments under the terms of the note secured hereb~, on the first da~ of each ~slonth until the said note is full~ paid, will pa~• to the ;~tortgngee, as tnistee, (under the terms of this trust as herein- after stated) the following sums: (a) A sum equal to the ground rents, if any, next due, plua the premiums that will next become due and payable on policies of fire and ot6er haaard insurance covering the mortgaged property~ plus taxes and a.ssessments next due on the mort$aged property (all as estimated by the Mortgagee sad of which the Mortgagor is notifi~d) ~ss all sums already paid therefor divided by the number of months to elapse before one month prior to the date when such ground rents, premiums, taues, and as~sments will become delinquent, . such sums to be held by Mortgageewtnisttopaysaidgroundrents~premiums,taues,andspecialasse.ssments. (b) The aggregate of the amounts payable pureuant to subparagraph (a) sad thoaepayable oa the note secured hereby, ahall be paid in a single paymeat each month, to be applied to the following items in t6e order atated ' < (I) ground rente, ta:es, aseeasments, fire, sad other hasard insurance premiuma; F (II) interest on the note eecured hereby; aad ~ . _ (III) amoctisation of the principal of eaid note. ~ Any deficiency in the amount of suchaggre gate monthlv payment shall, unless made good by the Mort- gagor pr~or to the due dace ot the next such payment, const~tute an event of default under this mortgage. At ~iortgagee's option, Mortgagor will pay a"late charge" noti eaceeding four per cenEum (4°J'a) of any install- ment when paid more thsn fifteen (15) days after the due date thereoi to cover the extra expense invol~ed in handling delinquent ~ayments, but such "late charge" shall not be payable out of Lhe proceeds ot any sate { msde to satisfy the indebtedness secured hereby, unless such proceeds are sufficient to d~scharge the entire indebtedness and all proper costs and 'expenses secured thereby. 3. If the total of the pa~•ments made b~• the :14ortgagor under (a) o! para€?raph 2 preceding shall exceed the amount of pa}-ments actuall~- made b~ t~e :4tortga~ee, as trustee, for ground rents, taxes and assessments, and insurence premiums, as the case ma~ ~be, such excess shall be credited on subaequent. pa~-ments to be made bt- the ~iortge€;or for suci? items or, at blortgagee's option, as trustee, shall be refunded to Mortgegor. If, however, suc}i monthl~ pa~-ments shall not be suffi~ient to pa~ such items when the same shall become due and pa~-able, then the ~iortgagor shull pa~ to the ~lortgagee, as trustee, an~ amount necessarv to make up the de~icienc~-. Such pa~-inent shall be made within thirt~~ (30) da~-s efter K-titten notice from the Mortgai;ee stating the amount of the deficiencp, which notice may be gi~ve~n by maii. If at an~ time the Mortgagor ahall s~.:: ~,0~ ~~l~3 ~ ~ : . ~ : , ~vt~ a; ~ -~:c~ a _ -...c ~ r*~~~ ~ .y .w ~r- ~ ' s.,+r . ~ ~ ~ : s~` ~a`a" ~ _ . _s~? _ _ 1_,... t?~- t~ , e