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Home My WebLink About0893 The Mortgagor hereby oovensnts with the Mortgagee. thati he is indefeaaib~y s~ir.ed oi e~id lund in fee ~ eimple or sucL other estatei ~f sny as ia stated herein; that he has tull power ~nd l~wiul right to oonvev the aiune ss aforesaid; thst the land ~e free ~mm all encumbrances ezcept as herein otherwise recitsd; that esidl4tortgagor will mske such furrher aesuranoes to pmve the doreeaid tit1A to eaid land ia said Mortgsgee sa may be reaeon- sb1yreq uired, snd thati said Mortga~or doee hereby t~ warrsn~ the title to eaid Lnd, und avery part thereot, wd will defend the anme againat the la~?ful claima of pereona ~vhomAOever. PROYIDED ALWATB tLtt 1~ Lb9 ~1riOT~L~Or B~~U ~y 11IIL0 L~le MOl~l1gN LI16L CBi~III ~)I~OIIL1880t9 AO~~ oi which the following ie a subsLantial oopf, 6o wtt: i 20,~•~ Fort Pierce ? ~ August 1 ,19 72• FOR VALIIS REClIYl~D~ the undere~ed promiee(s) to pzy to J. T. STHWART 1~RTGAGB OOI~A1dY, INC. , a oorporstion or6ani:ed and eriating under the lawa o# State of Florida . or order~ the principal eum o[ -~iffi~1TY THOUSAND AND NO/100 Ddlars 20,000.00 with intee+est fmm date et the rate of t seven per centum ( 7%) P~ annum on the unpaid balanae until paid. The eaid principal and iaterest e6aU be psyable at the o8'ice of J. T. ST~IART 1~BTGAGB OOI~ANY, INC. , Suite 300 - 100 Miracle Mile ~ Miami, Florida , or at such other plsae as the h~der may designste in writing delivered or mailed to the debtor, in monthly installmente of ONS HUNDRSD THIRTY-T~IIt~ ac 20/1Q~nllare (i 133.20 oommencing on the 5rat daq d Septe+mber , 19 72 , and oontinuing oa the firat dsy of each month tLereafter until t~is note is fully paid, ezoept thst, ii not eooner paid, the Snal psyment , oi principal and interest shall be due and paysble on the firat day of August, 2002 ~ . ; Priv~'1e~e is reaerved to prepay at an~ time~ witLout premium or fee the entire indebtedneee or any part ' tLereof not lees thsn the amount of one installment, or one hundred dol~ara (=100.00), whichever is lees. If any deficiency in the paym ent of any installment under thia note is not made good prior to the due dste of the next such installment, the entire principal sum and accrued intereet shall at onoe beoome due and Fsy- able without notice at the option of the holder of this note. Failure to exercise tLia option ahsll not oonetatute a waiver of the right to ezercise the same in the event of sny subeequent defeult. In t6e event of default in the payment of this note, and if tLe same is collected by an attorney st lsw, the undereigned hereby agree(s) to pay all oosts of collection, including a reasonable sttorney's fee. Thia note ia secured by mortgage of even date executed by the undersigned on c~artsin pmperty described therein and represents money actually used for the acq~isition of eaid property or the improvements thereon. Presentment, pmteet~ and notioe are hereby waived. ~ ~ . . " c ~ Vaughn L. Si e [s~J ~ ~ ~ ~ ri a [s~?r,~ - Irene B. ipt . . [s~] ~ ~ { And shall dulq, promptly, and fully perform, discharge, execute, eHect, complete, aad cnmply with and abide ~ ~ by each and every the atipulations, agreementa, ooa~ditions, and ooveuanta of said promissory note and d thia ; ; mo*tgage, then thia mortgage aad the estate hereby created ehall oea~e sad be null snd void. ; ~ The Mortgagor further coveoaata a8 fa,lowa:. • . 1. That he will pay the indebtedness, sa. t~ereinbefore provided. Privilege is reaerved to prepay at sny time, without preminm or fee, the entire indebte~neea or any psrt thereof not leas than the aano~nt of one inatallment, or one hundred dollars (i100.00), ~vhichever is less. 2. In order more fully to protect the security of this mortga~P, the Mortgagor, together with, and in addition to, the monthl ~ pavments under the terms of the note secured hereby, on the first day of each month until the said not,e is f~y ~paid~ will pay to the Mortgagee, as trustee, (under the terms of this trust as herein- after st~ted) the following sums: (a) A sum equal to the ground rents, if any, next due, plus the premiume that will neat becwme due and payable ~ on policies of Sre aad other ha~rd ineurance ooveiwg the mortgaged property, plus taxes and sasessments neat due on the mortgsged property (sll as estimated by the Mortgagee and of which the Mortgagor is ~ notified) less all sums alresdy paid therefor divided by the nnmber of mont6s to ela~pee before one month s prior to the date when such ground tent~, premiuma, ta~ces, snd as~sments will beoome delinquent, such sums to be held by Mortg€~geemtnisttopay~dgroundrents,premiums,t~uces,andspecialass~scnents. (b) T6e aggregste of the amounte pa able pureuaat to subparsgraph (a) and thoee payable on the note secured ~ heretiy, ahall be paid in a~e peyment each mont6, to be appl~ed to t6e following iteme in the order atated ~ (I) 6tound rente, taaea, aseeeameata, Sre, and ot6er hasard insurance premiums; (II) interest on the note eecured her~by; and ~ (III) amortisstian of the principal of aaid note. ~ Any deficiency in tbe amount of such aggtegste "montHly psyment ahsll, unleea msde good by the Mort- ; gagor prior to t~?e due date of the next such payment,_const?tute an event of default under thia mortgage. ; At Mortgagee's option, Mortgagor will pay a"late charge" not exceeding four per centum (4°Jo) of any install- ~ ~ ment when paid more than Sfteen (15) dsys after the due date thereof to oover the extra expense involved in } handling delinquent ~ayments, but such "late cbarge" s,hall not be psyable out of the proceeds of any sale } ~ made to satisfy the ~ndebt,edness secured hereby, unless such proceeds are su~'icient to d?scharge the entire ~ indebtedness and sll proper costs and expenses aecured thereby. ~ - 3. If the total of the psyments made b~• the l~iortgagor under (s) of paragraph 2 preceding shall exceed ~ the amount of pa~ ments actuall~ made b} tF~e Mortgagee, as trustee, for ground rents, taxes and as.gessments, ~ and insurance premiums, as the ca4e ma~ be, auch excess shall be credited on subsequent pay-ments to be msde bv t.he vlortgagor for such items or, at Mortgagee's option, sa trustee, shsll be refunded to Mortgagor. If~ however, such monthl~ payments shall not be sufficient to pay such items when the same ahall become due and pa~ able, then the Mortgagor shall pay to the Mortgagee, ss trustee, any amount necessary to make up ~ the de~icienc~ . Such pa~~ment sl~all be made within thirty (30) da~^s after wrrtten notice from the Mortgagee ~ stating the amount of the deficiency, wbicb nowce msy be given by mail. D a~t any time the Morcgagor shall ~ . p B~?t?K P~~# O~t ~ , ~ - ~_g,~ ~ ~ _ :