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HomeMy WebLinkAbout2186 The 4fortgagur hereby covenanta with the I1lortgap,eP~ that he ia indefeasibly seized oi said land in fee simple or such other estate; if any as is atated herein; that he hss full power and law~iul right to convov the sRme aa aforesaid; that the land is iree ~rom all encumbrances e.ccept ss hemin otherwise recited; that saidtilortgagor will make such lurther assurances to provo Lhe aforesaid title to said land in said \lortgagee as map be reiuon- ably mquired~ and thst said Mortgagor does hereby fully warrant the title to said land, and every part tl?ereoi, and wzll defend the same ageinst the law~ful claims of all pe~aons whomsoever. PROVIDED ~~.w~Ya that ii the ~iortgagor shall pay unto the Mortgagee that cectain promi3sory notr., of which the following is a aubatantial cops, to wit: = 11,900.00 F'ort Pierce , Florida. March 1 , 19 ~2 . FOR VALUE RSCSIVSD~ the undersigned promise(s) to pay to J. T. STEWART MORTGAGE COMPANY, INC. ~ a corporation organised and eadsting under the laws of State of Florida ~ or order, the principal sum of EIEVEN THOUSAND NINE H[JNDRED AND NO/100-------------------------- ~llars 11,900.00 with interest from date at the rate of seven per centum ( 7~Jo) per annum on the uapaid balance until paid. The said principal and interest shall be payable at the o~ice of J. T. STF~AART I~lORTGAGE CQ~ANY, INC . ~S~,tite 300 - 100 Miracle Mile in Coral Gables, Florida , or at such other p1aoE as the holder may designate in writing delivered or mailed to the debtor, in monthly installments of Eiqhty Fbur and 13/100---------- Dollars . 89.13 commencing on the first day of April , 19 7~ and continuing on the 6rst dsy of each mant.h thereaiter until this note is fully paid~ except that, if not sooner paid, the final payment of principal and interest shall be due and payable on the first day of ~~h , 1997 . Privile~e is reserved to prepay at any time~ without premium or fee, the entire indebtedness or any part thereof not less than the amount of one u~stallment~ or one hundred dollars (E100.00)~ whichever is less. If any deficiency in the pay ment of anp installment under this note is not made good prior to the due date of the neat 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 exercise this option shall not constitute a N aiver of Lhe right to exerc~se the same in the event of anv subsequent default. In the event of default in the pavment of this note, and if the same is collected by an attorney at law, the undersigned hereby agree(s) to pay all costa of collection, including a reasonable attorney's fee. This note is secured by mortgage of e~en date eaecuted by the undersigned on certain property described therein and represents money actually used for the acquisitio of said pmperty or the improvements thereon. , Presentment, protest, and notice are hereby waived. ~ ~ , ~ ~ _ ~ Gt'' ts~.] F _ _ [sEnL~ ~ Susan B. Conl / t ~ [s~] ~ ~_w:,,,1,,,~,~:;_1 ~ • l' ~ ~ ~ [s~?L] ; E And shall duly~ promptly, and fully perform, discharge, execute, ef~ect, complete, and comply with and abide s by each and every the stipulations, agreements, conditions, and covenants of said pmmissory note and of this ; moctgage, then this mortgage and the estate hereby created shall cease and be null and void. = The Mortgagor further covenants as folloas: 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, ~ without premium or fee, the entire indebtedness or any psrt thereof not less than the amount of one installment, or ~ one hundred dollars (i100.00), wtuchever is less. - In order more full~- to protect tlu~ securit~- of this mort~a~e, the ~tortga~or, togetlier with, and in ~ x~l~lit icm to, th~ monthl~- pa~-?n~~nts under th~ tern?s of thc~ not~ se~•umd hereb~-, on the first da~- of each month ~ witil ihe said not~ is full~- paid, ~rill pn~- to Ih~~ ~lortKn~~•c~, As trustee. (undrr the teruis o( this trust as herein- :?ft~~r ~(RIPII) 1I1P ~OIIOK"Illg Sll111S: ~ (a) A sum equal to the ground rents, if any~ next due, plus the premiums that will neut become due and payable on policies of 6re and oiher hazard insurance covering the mortgaged property~ plus taxes and assessments F neat due on the mortgaged property (all as estimated by the Mortgagee and of which the l~iortgagor is ~ nutified) less all sums already paid therefor divided by the number of months to elapse before one month r prior to the date Rhen such ground rents~ premiums, taxes, and a~.sessments will become delinquent, such sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taxes,andspecialassessments. (b) The aggregate of the amounts payable putsuant 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 order ~ stated: (I) ground rents, taxes, as.sessmenta, fire, and other hazard insurance premiums; (II) intereat on the note secared hereby; and - (III) amortization of the principal of said note. Anv deficiency in the amount of such a€;gregate monthl~ payment shall, unless made ~ood by the Tfort- ~ ga~or prior to the due date o[ the next such pa~•ment,, constitute an event of default under this mortga~e. " At ~iortgagee's option, Mortgagor will pay a"late charge" not eeceeding four per centum (4%) of an~~ mstall- ment H-hen psid more than fi(teen (15) day s a(ter the due date thereof to cover the extra expense in~•oh~ed in handling delinquent Fa}•ments, but such "late charge" shall not be pa3 able out of the proceeds of an~ sale made to satisfv the indebtedness secured hereby, u~iless s»ch proceeds are sufficient to discharge the entire indebtedness and all proper costs and expenses sec~red thereby. :i. If tl~~ [otal of th~ pa~-menls made h~~ th~ ~1ort~?u~or under (a) of para~raph 2 pre~edin~? shall exceed th~ ~inount o( pa~-tn~t?ts actuall~• inu~ie b~' tiie ~Iortgag~~~, as truste~, for Kroun~l rents, tflxes and a.~s~~ssments, and insuranr~~ pn•miwn., as tlu~ ~•as<~ ma~ be, such excess sha11 be credit~~l on sut~seyuent pa~'m~nts to be ~nade = b~- tht~ ~Iort~;a~;or for su~•h ite•~ns or, at ~iortgagec's option, eis trustec, shatl he refunded to ~tortgagor. If, how•~~~er, suc~h montl~l~• pa~•n?~nts ,hall not be suffi~•ient to pa}• su~•h items when the sanie shall become due and p~~-able, th~n the ~lortga~or stuill pa}- to th~ `fortgagee, as trustee, an~- amou:~! necesser~• to mRke up ':=3 th~ defic•ienc~•. ~u~h pa~•tii~nt shall be ma~le within thirt}- (30) da~-s after W-ritten noti~P fr~rn tl~~ i~tortgagee stating tLe amount of the deficienct, which notice mny ~e~i~en b msil. If at any time the Mortgagor shall ~ $tlD~~ ; : : _ _ _ _ _ _ _ .