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Home My WebLink About0227 . The Mortgagor hereby covensnt8 with the Mortgagee, thst he is inde[esaibly seized of eaid lsnd in fee simple or such other eatates ~f any sa ia ststed herein; t~het he hsa full power snd lawiul right to oonvev the aRme as sioresaid; thet the land ia iree ~rom all encumbrsnces except as hereia otherwise recited; thst asid~viortgagor will make euch further asauranoeB to prove the aforesaid tit1R to said lsnd in said Mortgagee sa msy be reason- sblyreq uired, and t~u?t said Mortgagor does hereby wsrrsnt t6e title to asid lsnd, snd every part thereoi~ and will defend the same againat the lawiul claima oi pereons whomso~ver. PROV/DED ALWAY6 tL6t 1I LZ1e ~~OT~B~OT Bbb~ pay uato t6e Mortgagee tbat certain promiseory note~ O~ which t~he follow-ing is a aubstsntial coPS~ to wit: = 15,500.00 Fo:t Pierce ,Floridu, June 5 , 19 72 . Fox Vwt.v~ Rscsivsn~ the undersi~ed promiee(s) to pay to . SOL~iL?.Ri: I•:ORZ`GAGr: AS50CIATES, I?:C. . ~ a corporation orgsnised and e~dating under the ~ State Ar}:ansas ~ or order, W18 pTiIICipe?1 sum of F'IFR'~N THOUSAND FIVE FNNDR:.D A;3D NO/100-----------------------------~ollars 15 , 500. 00 with intereat lrom date at the rate of seven per centum ( 7%) per annum on the unpaid b~lanoe until psid. The said principal and interest shaU be payable at the o~oe of SOtTPi~RN M01~'iGAGE ASSOCIATES, ItvC. P. O. BOX 38, Shenandoah Station in M.iami, Florida , or at euch other plac~ ss t~e holder may deaigaate in ~vriting delivered or mailed to the debtor~ in monthly installments of ~e fiundred Three and 23/100---- j~]are 103.23 commencing on the firat day of J~xly ~ , 19 72, and oontinuing on the first dsy of esch month thereafter until thia note is fully psid~ e~cc~ept thst, if not eooner paid, the final payment of principal and interest ahall be due and payable on the Srst day oi ~,ine , 2002 priv'ile~e ~a reserved to prepay st sn~ time, without premium or fee the entire indebtedneee or any patt thereof not leee than the amount of one u~stallment, or one hundred dol~srs (i100.00), whichever ia less. If any deficiencp in the peym ent of sny inatailment under tLis note is not made good prior to the due dste of the neat such installment, the entire principal sum and sccrued intereat ahall st once become due and Fay- able without notice at the optaon of the holder of this note. Failure to eaercise tLis option aLall not oonst~tute a waiver of the right to eaemise the same in the event of any subsequent default. In the eveat of default in the payment of thia note, and if the same is oollected by an sttorney st lsw, the underaigned hereby agree(s) to psy all costs of collection, including s reasonable sttorney's fee. Thia note ia eecured by mortgage of even date eaecuted by tLe undersigned on oartain pmperty described therein and represents money actuslly used for the acquisition of eaid pmperty or tho impmvements th~ei~eon. Preeentment, pmtest, and notice are hereby waived. ~ { - - . s ~ ~ ~v _1~% ~-c~~ [ggAl,] s Phill p y ~ ; ~ _ ~ ~ , ~ [SSAL] ' ~ ` El' th 8ryan L- ~ ~ ~ggAL~ ~~L~ ! And ahall duly, promptly, and fully pedorm~ discharge, execute, eHect, complete, and comply with and abide ~ by each and every the st~pulations, agreements, conditions, and covenants of said promissory note and d this ~ mo*tgage, then this mortgage and ~he estste hereby created sha?I ce.aee and be null and void. , ~ The Mortgagor further oovenant8 ss follows: ~ 1. That he will pay the indebtednesa, sa hereinbefoie provided. Privilege is reserved ta prepaq at any time, without prem~ium or fee, the entire indebtednees or anp psrt tbereof not leee than the amount of one installment, or one hundred dollars (t100.00), whi~h~ver is less. - ~ 2. in order more full~• to protect the securit~~ of t#?is mortgage, the Mortgagor, together veith and in addition to, the monthl~- pa~ ments under the terms of the note secured liereb~ , on the first da~• oi eacii month until the said note is fulh- paid, vrill pa~ to the :ltortgagee, es trustee, (under the terrns of this irust a4 herein- after stated) the follovring swiis: (s) A e~m equsl to t6e ground rents, ii any, neat due, plus the premiums that will next become due and payable on policies o# fire and other hasard ineurance oovermg the mort~nged FT~P~rtY~ Plua taxes and ss~smenta neat due on the mortgaged property (all aa estimated by the Mortgagee and of which the Mortgagor is notifie~ lesa all sums already paid theretor divided by the number of months to ela~~pee before one month prior to the date when such ground renta, premiums, taaea, and assesaments will become delinquent, such suma to be held by Mortgageeintevattop~yeudgroundreats~premiuma,taxes,andapecialase~nenta. (b) The aggregste of the amounts payable pureuaut to subparagraph (a) and thoaepayable on the note secured hereby, ahall be paid in a s~ng~e psymeat each month, to be sppLed to the f~ilow~ing itema ia the order ~ atated ~ ~ (I) 6round renta. taues, aseessmenta, 8re, aad other hasard insurance premiums; ~ (II) interest on the note eecured herebq; aad (IIn ismortisation of the principal ot said note. Any deficiency in the amount of suchaggregate monthly payment shall, unless msde good by the Mortr E~ gagor prior to the due date of the next such payment, const~tute an event of defsult under this mortgage. - ~ At 14iortgagee's option, Mortgagor ~vill pay a"late charge" not eaceeding four per centum (4%} of any inscaq- vil ~ ~ ment when paid more than Sfteen (15) days aiter the due date thereof to cover the extra expense involved in ' ~ handling delinquent ~ey ments, but such "late charge" shall not be payable out o[ t.he proceeds of any sale t ~ maile to satisfy the ~ndebtedness secured hereby, unless such proceeds are sufficient to d~scharge the entire ~ indebtedneas and all proper oosts snd expenses secured thereby. , :3. tf the total of the pa~ments made b~• the ~'Iortgagor under (a) of paragraph 2 preceding shall exceed ~ the amount o( pa~-ments actuall~- made b~ the i~iortgagee, as trustee, (or ground rents, taxes and a~.gessments, and insurance premiwns, as the case ~nar be, such excess shaU be crPdited on subsequent pa~m~ents to be made ~ bt- the ~4ortgagor for such items or, at ~tortgagee's option, as trustee, shall be refunded t4 Mo~tgagor.• • If, ~ however, suc~i montl~l~ pa~•ments shall not be sufficient to pa~ such items when the same shall~ become due ~ - and pa~'able, then the ~tortgagor shall pa~• to the ;1~lortgagee, as trustee, an~ amount necessar ~ to make up ~ the de~icienc}•. Such pa~ment shall be madp within thirt~ (30) da~~s after vvritten notice (ro~n t~e Mortgagee stating the smount of the deficiencv, which notice ma~ ~'~au..by msil. If et any time the Mortgagor shall 8,~~~~~~ ~cf l ~ ~ K ^ t ~~~Mj" ~s~ p Y +r4Y `.~.'3 q~. ~"i4`rXwpV'.3,e.d r_:. ~~C _ "s",``~'~~ _ a ~ _ _ . . . ~