HomeMy WebLinkAbout1754 ~1 ~ ~ "•a ~
The Mortgag~or hereby oovenants with the Mortgagee, th~t hs is iadefeaeibly aeised oi s~id land in fee
eimple or suah otder est~tea ~t any ae is st~ted Lerein; that he has tull power and 4rviul right to oonvev t6e ssme
~s r?tonssid; thaL Lhe l~nd ~s iree ~rom ail eacumbrsnces esoept ss hereia ot6er~vise recited; th~t eaidlulortg~gor
will maica auc6 iurther aesur~u?oes to p~+ove the dores~id tiWe to s~id laad in eaid Mortgagee ae msy be reseon-
ab~yrequired, and t~aat eaid Mortgagor does hereby i~y ~rruit t6e Litle to esid lsad, and ever~ puti thereot,
iund will defend the sama ~g~insti the Lwful claims oi all pereons whomaoever. -
Paovtasa ALweTe th~~ ii the l~iorfgag~or sbsll poy unto the Mortgages that oertaia promiseory note~ oi
wLic6 the iollowing ia a subst~satia! ooPS, to witi:
= 27,750.00 Fort Pierce , ~7orids.
May 19 , 19?2 .
Foa Vwi.vs Rscszvr~n, tbe unde~eig¢ed promiee(s) to psy to
J. T. STE.WART MORTGAGE COI~ANY, INC . ~
s oorporaf;loa.ordani~ed ~~nd e~ u~~r i~
Lwe of State of Florida ~ or oider, the princiPal eum of ~~SNTY SSVSN THOOSAND STVBN HUNDRED
FIFTY AND NO/100••----------------------- j~~ 27,750.00 with interest from date st
the rste of seven per oentum ( 7%) per aAnum on the unpsid balanoe until paid.
T6e eaid priucipal snd intereet ehaU be psyable at the o~ee of J. T. srffi~1AKr MoRTGACS car~ANX, n1c .
Svite 300 - 100 Miracle riile
in Cora~ Gables, Florida , or at such other pla~oe es the hdder muy deeignste in wiiting
delivered or mailed to the debtor, in moathly installmeats of ~e Hundred Eighty Four and 82/1d~1Lrs
184.82 oommeacing on the first day of ~lY , 19 7?, and ooatinuing an the
6ret day of eac6 month tLereafter until tbia note ia fully paid~ esaept that, if nut sooaer paid, t~ha final payment
of principal snd interest shall be due and payable on the firat dsy of ~ne . 2002•
privileae ia reserved to prepsy at aay time, witLout premium or fee, tLe entire indebtedneee or any part
tLereof notlees thsn t~e amount of one inatallment, or one hundred doltars (i100.00), wLichever is lees.
If aay deficienay in the payment of any installment under t6is note is not mada g~ood prior to the due dste
of the nezt such installment, t6e entira principal sum and acc,rued interest ahall st once become due and ~sy-
able witLout notice at_the option of the holder of thia note. Failure to e~ercise thia option s6a11 not aonavtute
s waiver of the right to e=erciee the ssme ia tLe event of snp subsequen~ defaul~. In t.he c+vent pt clefsult in the
payment of this note, snd if tLe eame is uollected by aa sttorne~ at Lw, the nndaraigned hereby agree(s) to
psy all ousts of oollection, including a ressonsble sttorney's fee. ~
1`hia note ia eecured by mortga~e of even date executed by tha nnderaigned on oertain pmperty deecribed
therein and repreeents money actuatly used for the ac:quisition oi said pmperty or t6e improvemente thereon.
Preeontment, pmtest. ~ud notice are hereby waived.
. ~
, [BSAL]
ill D. y
[~?L]
t D. Bryan
~88AL]
i
i . [3SAL]
/tnd ehall dtily, promptly, and fully pexform, discharge, ea~ecute, eSect, oomplete, and comply with aad sbide
by each and every the stipulations, agreements, oonditions, and covenante of said promiseory note and of this
mo*tgage, then thia mortgage and the estate hereby created shall aesee and be null and void.
The Mortgagar further ooveasnte as follo~vs: -
1. That he willpa
y the indebtedness, as hereinbefore provided. Privile~e ia reae,rved to' P~Y ~~Y ~e,
without p~m~ium or f~e, t,he eatire indebtedneas or any part thereof not leea than the amount d one installment, or
one hundred dollars (i100.00), ~vhichever is less. -
2. In order more tull~ to protect the securit3 of this mortgage, the Mortgagor, together with~ and in
addition to, the monthl~~ pavments under the terms ot the note secureci hereb~~, on the first da~ of each month
until the said note is full~ paid, will pay to the Mortgagee, as tnistee, (under the terms of this trust as herein-
after stated) the following swns: _
(a) A eum equsl to the ground r~te, if any, ne:t due, plna tbe premiuma that will ne~ct bemme due and payable
on policiee o~ 5re aad other hassrd insuraace oovering the mortgaged pmperty, plue taxes snd aaseasmenta
next due on tbe mortgaged property (all a8 estimated by the Mortgagee sad of which the Mortgagor is
notified) leas sll eums alresdy paid there~or divided by the number of months to elapee before one mont6
prior to the date ~vhen euch ground reats, premiuma, taxea, and sseessments will become delinquent,
such euma to be held by Mort~ageeintnisttopsyseudgraundrents,premiums,taues,andspeciels~ssments.
(b) The ag~+egate d L6e amo~nta pa able pureuuut to eubparagrsph (a) and thoeeps~
yable on the note aecured
hereby, sbaU be psid ia a~ Pa?Ymeat each manth, to be i?ppLed to the f~llowin6 itema ia the order
stated
(A ~nd sad other hasard insurance premiwne;
(I1~ interest an the note aecured hereby; aad
(Im amortiEatioa of the principal d esia note.
' An"y deSciency in tbe amount of sucha~r ate montlily payment ahall, unless msde good by the Morc-
gagor pnor to the dus date of the next such psyment~ coastitute an event of defsult under this mortgsge.
At Mortgagee's option, Mortgsgor will pay s"late charge" not exc~eding four pet centum (4~J'o) of sny install-
ment when paid more than fifteen (15) dsys after the due date thereof to cover the eact.ra expense involved in
handling delinqusnt ~ay mente, but such "late chsrge" s6all not be paysble out of the proc.eeda of any sale
msde to satisfy the ~ndebtedness secured hereby, unless such pmceeds are auH'icient b dischsrge the entire
indebcedneas and all proper costs snd expenses secured thereby. ~
3. I[ the total o! the pa~-ments made b~ the Mortgagor under (a) of paragraph 2 preceding ahall exceed
the amount of pa3-menta actuall} made by t~e Mortgagee, sa trustee, for ground rents, taxes and assessmenta,
and inslirance preiniums, as the case ma~ be, such excess shall be credited bn~su~beef~ueht payments to be made
b~ the Mortgagor ior such items or, at Mortgagee's option, as trustee, shell be refurided W Morigsgor. If,
however, such monthly payments shall not be sufficient to pay such itema when the same ahall become due
and pa •able, then the Mortgagor shall pa~ to the Mortgagee, as trustee, any amount necessary to make up
the de~cienc~ . Such pa~-ment al~all be made within thirty (30) dovs after wrttten notice !mm the Mottgagee
etsting the emount of the deficiency, which notice may be given by mail. If s~ any time the Mortgagor shall
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