HomeMy WebLinkAbout2498 , ~ i r;
~ .1 i i • f S.i~ i ~ • r ` ;
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The Mortgag~or hereb~ oo~enants wit~h ths M that be is indeieasi ~ei~d ot said land in fes
~ia~ple or ~uoL otber esta?Ls ~t aqy ~ is ststed hersia; t~~ Las tnll pow~sr sad L~ul right to ooa~ the ~
as atoe~e~aid; t~~ tbe land ~s fi+es ~n aU eac~abranoes esospt as hersia otherwi~s rec~ted; t6at e~id~ortg~gor
wIU make suc6 further ~sun~noe~ to pro~s ths aioreaid tit~is to ~aid Iand in aid Mortgsges a~ ma~ bs re~wn-
e
required~ and tbati s~id M doe~ Lee+eby w~rn~a0 t6e titls to Mid land~ ~nd e~er~ par~ thsreui~
~will defend ths same againsa~
~viul olsim~ oi persons wbomsosver.
Paovzasa ALw~is thot ii !he Mortgagor ~hsll py nnt~o tbs Mortg~es tha~ oect~in promiewry note, oi
wLich tbs iolbwing i~ ~ substsata~l ooP7, tio witi:
= 35,000.00 . ~+ort Pierce , I~oricb.
May 17 ~19 72.
Fwe Vw~.vs Rscstvso, tLe unda~eii~ed p~oaniee(s) to pw to ~
SO~T~N MOiRTGAGE • ASSOCIATSS i INC .
, s oorporn~ion or~anised aad e~dad~ina under ths
lsws af State of Arkansas , a~~ ~ P~?ciPV eum of TRIRTY FIVS THOOS~AND AND NO/100
Dollnrs (=35,OQ0.00 with int~ereet irom d~te st
the rate ~at~ sevsn pe~ eeatum ( Per aanum on t6e nnpaid bvanoe unW paid.
The s~id tp~ncip~l aad interest eball be p~y~bb st tha oioe ot
~ rt
SOUTFi~RId ~ ASSOCl~TgS",'~., ~ t~:. ""~3`8, Shenandoah Station
t -
in Miami , Florida , a st euah o~ P~aoe as ~~t° 1° wntu~
nn
deliv~ed or mailed ~ debtor, in moathly installnnmta af ~ao Hiuidred ~'h~~ and 10/1~14ts
233 .10 Qommeacina on the S~rt d~y ot July , 19 72 ,~ad oontinttina oa tbe
first ds~ oi eac6 month theraatter until tLis nots is tnl~ Paid~ eiosp't tbat~ if not woaer paid, tbe Snal payment
oi prinqpal and interest ehaU be dus snd p4yabls oa the first d~?y of ~e ~ 2002 •
Privil~eBe is reeerved to prepU sti an, time. without pn~mium or fee the entire iadebt~edne~s or anY P~
t]~ereoi not~rees tLsn tLe aanount oi one mst~ilment, or one hnndred doliars (i100.00), whichever is Ie~s.
It aq~ deficiency in the psymeat oi any i~tallment under t~6is note ~ noti made good prior to the due date
oi the nest such installment, .the eatire principsl eum and aa~,nied interest ahall at onoe beoome due and ps7-
~o
able witbout notice st the optwn of t~-holder of tbis note. F~ilure to ezerciee this o ti~on ahall not oonstatute
a waivez of the righ0 to e=eroise the nane ia the eveati of any subeequent det~?ul~. In evea0 oi detaulti ia tha
P~Yment oi tbis note, and if t6e same is collected b~ aa atitorne~ at Lw, ths nnderaighed herebY ~8~(~) ~
P~7 ~~~f ~~taon, including a reasonable ~t~orney'a fee.
Thia n~vte is secured by mo of even dste ezecuted by the nndareigned oa certain property described
therein aad repre~ents mo~ ac~~ua~ used for the aoquisit3on oi said-P1'oP~7 vr ths ~vemonts thereon.
Preaentment, protest. and notice are hereby waived. ~
~ / , ' - . %~,~.y ~ [sas~,]
~ ~
_ ~ ^ Charles M. Baker,yJr.
_ • [SBAI,]
Margaret Ana-B~cer - -
. .
i
i ~ ~
~ ~ ..~?L~
~ And ehsll duly, pmmptly and fully perform, diaehaBe, eacecute, e6ect, complete, and oompiy with and abide
by ~ch and e~v~? the stipu~ations, a~+eementa, ooaditiona, sad oovenants of eaid pmmiaaory note aad of this
mo*tgaae, tbea th~e mortg,~ge and tbe este?te hereby create~ eball oeaee aud be null and vaid
17re Mot~t~oc fnrt6er ootreoaats a4 fdlows: - - -
1. Thst he willp sy the iadebtedness, as heranbefore provided. Priv~'1e6e ie reeerved to prepsy at anY tim0.
withoutp or fee, tLe entire indebtedaeas or aay @art thereof not lees t6aa t~e amownt of one installment, or
one hundi~ed~~dollara (i100.00), whichever ie I~eee.
2. In order more fully to pmtect the security of this mo=tgage, the Mortgagor, together with and in
addition to, the monthlv payments under the terms of the note secured hereby, on the first day of eac~ month
until the said note is fu~13 paid, will pay to the Mortgagee, as trustee, (under the terms of this-truat as herein-
after stated) the:followiug sums: "
(s) A eum ec~ul ~o the ~e+ound reate, d aay, ne~ct due, plus tbe preminms t6d ~ill ~t beoo~ne due and psyable
on polieies ~ 5tp and other Las~ud insueanoe ooverins t6e mor~6+~6~ P~Pe~Y, -P~us taues and ~neats
nest due on tbe mortBaB~ P~P~Y ~~1 as estimated~y tLe MQrtgagee and .of whiah the Mortg~gor is
noti8ed) lees all eonms alre~d~? paid tberef~ ~vided by t~ie number of months to ~ before one month
prior to tbe dste ~vhen euch ~nd rents, P~~, t+?:ea, aad seeeesmenta become delinquent,
euch eums to be hetd by Mortgs6eeintn~e~topaysaidgroundrenta,premiums,taxe0.aadepecislaee~nnente.
(b) The ag~+e~ate ot t6e arnoanta ps pureuant to eubpangraph (s) and thoeep~yable on the note ~ecured
~+~y, ebaII be psid in s~yment each m~th, to be appiied to the f~llowia~ item~ ia tLe order
~t~t
de
(A ~d ~ti, aad other L~rd inauranoe premiums;
(IA iate~wt m tbe note eecured Leroby; and
(IIn amo:~tisstion ct the priaeipal d ssid note.
Any deficiency ia the amount of suc~ ~te montlily paymea! shall, unleas mada ~ood by tbe Mort-
gsgor pnor to the due date of the next auc payment, const~tute ~?n even~ of defaul~ under thia mortgage.
At Mortgagee's optioa, Mo agor will pay s"lite charge" not e~ceeding four pear centum (4°Jo) oi any ina-tall-
ment when sid more than~iteen (15) days after the due dste thereof to covec the extra e~cpense invalved in
handling de~jnqu~nti paymente,.but auch 'Lte ch~rge" ahall not be ~syable out ot tha proceeda of any se?le
made to satiafy tLe indebt~daeee eecured hereby, unless auch proceeds are suff cien~ to dischuge t6e entire
indebtednees and s!l pmper costs snd eape~es eecured thereby. _
3. If the total of the payments made by the Mortgagor under (a) ot paragraph 2 preceding ahall exceed
the amount of psyments actually made by the Mortgagee~ as truatee for ground rents, taxes and a~essrnent~,.
and insurance premmms, as the case msy be, auch exceaa ahall be cre~ited on sub~eqwept,pqyments.tio:be made-
bv the Mortgagor tor such items or, at Mortgagee's option, as truatee~ ahall 1~ ttfundid to Mortg4gc?r. If~
however, such monthly~ payments shell not be sut6cient to pay such itema when ~he same ahall become due
and paysble~ then the Mortgagor ahall pay to the Mortgagee~ as truatee, any smount neceesary to mske up
che deSciency. Such payment s1~all be made w+ithin thirty (30) dava siter wntten notice fmm the Mortgagee
atsting the smount oi the deficiency W' tice ma ven by-~ail. If st any time the Mortgagor shall
~~OOtc~~ F~;F~i~ 8o.~r, 2v~
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