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Home My WebLink About0884 The Mortgagor hereby covenanta with the Mortgager~ thut he ia indefessibly seized oi said land in fee eimple or such other estatet J any as ie atated herein; that he hss tull power snd lawiul right to con~ev the same aa sloresaid; that the land is iree ~mm all encumbrances e~ccept ss herein otherwise recited; that s~}id~iortgagor wiA make such further sssursnces to provo the aforesaid title to said land in said Mortgagee as may be reASOn- sblyrequired~ and that said Mo.~tgagor does hareby fully warrant the title to said land~ sad every part U~ereof~ and will defead the same ageinst the lawful claims of all persona whomsoever. PROVIDED ALWAYB ~Bt lI tIl@ ~10i~A~01' Sb6A p8~ 11II~0 L~A MOI'E~8g06 L~6~ Ce['~,AIA ptOIA1S3017/ 110L0, of which the following ia a aubstantial cops, to wit: = 21,200.00 Fort Pierce ~ ~orida. June 13 ~ 19 FOR VALL'E RSCEIVED~ the undersigned promisc(~ ~,6piiy'to ~ . . ~OU`'i'FI~2I3 tiORr`i~AGE ASSOCIATES, INC. , s oorporation otganised and e~osting under the laws of State of Arkansas , or order, the principal sum of ZWEP~Y OtvB THCUSAtJD ZFIO ~~]DRED .'~.*ID NO/100---------------------------- Dollars (i , 200.00 with interest from date at the rate of seven per centum ( 7%) per annum on the unpaid balsace until paid. T6e said principal and interest shall be payable at the o~ice of SOtFrH~RAi ~iORTt~AGE ASSaCIATES, I?VC. P. O. ~3ox 38, Shenandoah Station in :li~uni., Florida ~ or at such other p1aoE as the holder may designate in writing delivered or mailed to the debtor~ in monthly instalimenta of One Hundred Forty One and 19/100Dollars 141.19 commencing on the first day of July , 19 72 , and continuing on the first day of each mont.h thereaiter until this note is fully peud~ except that~ if not aooner paid~ the final payment of principal and interest shall be due and paysble on the first day of June , 2002 privilege ~s reserved Lo prepay at any time~ without premium or fee, the entice indebtedneas or eny part thereof not lesa than the amount of one uistallment, or one hundred dollars (E100.00), whichever is less. Ii any deficiency in the paym ent of any installment under this nots is not made good prior to the due date of the next such installment, the entire principal sum and accrued interest ahall at once become due and ~sy- able Nithout notice at the option ot the holder of this note. Failure to exercise this option shall not constitute s a aiver of tLe right to exercise the same in the event of any subsequent default. In the event of defsult in the pasment of this note, and if the same ia collected by sn attorney at law, the undeisigned hereby agree(s) to pay all coata of.collection, including a reasonable attorney's fee. This note ia secured by mortgage of even date eaecuted by the undersigned on certain propertQ described thereiu and represents money actuauy used for the acquisition oi said pmperty or t~he improvemente thereon. Presentment, protest, snd notice are hereby waived. _ '-1- ~ E' • , , ! ? ~ ; ' ~ ~ - _ Is~,J ~ - Luther Damni~er, II ` ~ 1 ~ L , ~SEAI'] Lois ri. ~a.^~pier - ~~?L) ______.M_ [SEAL] f And ahall duly, promptly, and fully pedorm, di~charge, execute, etiect, complete~ and comply with and abide j by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of thia ; mo*tgage, then this mortgage and the estate hereby created shall cease and be null and void. ~ The biorfgagor further covenants as follows: j 1. That he will pay the indebtedness, a4 hereinbefore provided. Privilege 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 installment, or ~ one hundred dollars (i100.00)~ whichever is less. ~ 2. In ord~r more full~• to prot~~~•t th~ s~c~urit~- o( this mortga~e, the ~tort~a~or, tog~ther with. end in u~l~lition to. tlu~ monthl~- pacnirnts un~er the terms of the nott ,~~•ured h~reb~-, on the first da~- o( ~a~h month ~ ?nitil ti~t• sui~l note is f~ill~- paid, N'lII ~)il1' l0 (IIP ~tortKAg~~~~, t~.s tru.Stee, (und~~r the~ t~rms of this trust a, lierein- ~ uft~~r st~tr~l) thc falloH-it?~: sun~~: ~ (a) A sum equal to the ground rents, if any, ne~ct due, plus the premiums that will next become due and payable on policies of fire and other hazard iasurance covering the mortgaged property, plus taxes and assessments neut due on the mortgaged property (all sa estimated by the Mortgagee and ef which the Mortgagor is noti6ed) less 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, taxes~ and assessments will become delinquent, ~ such sums to be held by Mortgsgee in trust topaysaid ground rents, premiums, ta~ces, and special assessments. ~ (b) The aggregate of the amounts paynble pucsuant to subparagraph (a) and those payable on the note secured hereby, ahall be paid in a eingle payment each month, to be applied to the following items in the order ~ stated : (I) ground renta, taxea, assessmenta, fire, and other hasard insurance premiuma; ~ (II) interest on the note secured hereby; and ~ (III) amortisation of the principal of said note. An~ deficiency in the amount of such a~regate monthly pa~ ment shall, unless made ~;ood b~ the ?~iort- gagor prior to the due date of the next suc}~ pa~ ment, constitute en event of de(ault under this mortgaKe. ~ ~t 1lortgagee's option, Mort~agor will pa~• a"late char~e" not e~ceeding four per centum (4°fo) of an} install- ~ ment when paid more than fi'fteen (15) days after the due date thereot to cover the extra expense in~•olved in ~ handling delinquent pa •ments, but such "late charge" shall not be payable out of the pror,eeds of any sale ~ made to satisf~ the m~ebtedness secur~d hereb~, uiiless such proceeda are sufficient to d~scharge the entire indcUtedness and all proper costs and expenses secured thereby. :t. if th~~ total of lhe pa~-nit~nts inad~ b~~ the ~IortKaKor under (a) of para~raph 2 precedin~; shall ~xceed ~ ~ the a~nount of pa~-m~nts artu~llr nuide b~- tt~r ~tort~a~c~~, as trustee, for Kmond rents, taxe~ an~l a,se~~~ments, and in~uran~•~• pr~iuiun~s, a, th~~ ~•i~s~• mat~be, such ercess sha11 b~ credit~~1 on sut~eyuent pa~•nu~nts to 1~ mad~ ~ b~• th~• ~1ortK~~or for su~•h it~nis or, at ~tortgag~e's option, as trustee, shall b~ r~funded to ~1ortRagor. If, ho~~e~•er, such tuonthl~• pn~-menis ~hull not i~e suffi~•ient to pa~- su~•h itcros wh~n the san?e shall become due SI1/I ~R~'flI)~P, tl~en the ~IOI'1~II(;OI' S}la~~ ~R)' l0 the ~1ort~a~~e, as trustce, an~• amount necessar~• to make up th~ dc~fic•ienc~-. Su~h pe~•m~nt shall bP niafe v?ithin thirt~' (30) ~la~-s ufter written notic~e fro~n ti~e Mort~aRee ~ stating the amount of the deficiencv, which notice may be given by mail. If at. any time the Mortgagor shall tl ~ ~V~ tJ~J~ ~ R~i~'~ Ftl:t ~ - - - - ~ ~ r~ - . ~ _ r .