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Home My WebLink About2993 The Mortgagor herebv cavenants with the Mortgaget~, that he ia indefeasibly seized oi said tand in fee simple or such other estate; if any as is stated herein; that he has tull power and lawiul right to convev the same as aforesaid; that tbe lnnd is iree ~rom sll encumbrancea except as 4erein otherwise recited; that said~tortgagor will make such iurther asaurancea to provo the aforesaid title to said land in said Mortgsgee as may be rcason- ab req uired~ and that said Mortgagor doea hereby fuAy warraat the title to said land, snd every parE t~~eceot'~ • an will defend the same against the lawful elaima of all persona whomsoever. ~ Paov~Drn ALwwYS that if the !~iortgagor ahsll pay unto Lhe Mortgagee that certain promissory note, of ~ which the follow-ing ia a substautiel aopf, to wit: = 23,200.00 Fort Pierce , Florida. Auqust 25 , 19 72 FOR VALUS RECSIVSD~ the undersigned promise(s) to pay to SOIT1'~RN MORTGAGE ASSOCIATES, INC. , a corporation orgaaized and e~risting under the laws of State of Arkansas , or order~ the principal sum otTWENTY TE{RES TNOUSAND ZWO HUNDRED and NO/100--------------------------Dollars (i 23, 200.00 with interest frorn dat~e at ' the rate of seven per oentnm ( 7%) per annum on the unpaid balance until paid. The said principal and interest ahall be payable at the of6ce of SOI)T~RN MORTC~,,AiGg ASSOCIATES, INC. P. O. BOX 38, Shenandoah Station ~ Miami, F~orida , or at such other p1aoE as the 6older may designate in v~rit:ng delivered or mailed to the debtor~ in monthly installments of pne Hunc~red Fifty Four and 51/10~01~~ 154.51 commencing on the Srst day of October , 19 72, and continuing on the first day of each month t6ereafter until this note is fully paid, except that, if not sooner paid, the f nal payment of principal and interest shall be due and payable on the first day of September, , 20Q2• Privile~e is reserved to prepay at any time, without premium or fee, the entire indebtedness or any part thereof not Iess than the amount of one uistallment~ or one hundred dollars (5100.00), whichever is less. If any deficiency in the payment of any instaliment under this note is not made good prior to the due dete of the next such installment, the entire pnucipat sum and acerued interest shall at once become due and ~ay- abte without notice at the option of the holder of this note. Failun to eatercise this option shall not constitute a a siver of the right to eicerc~se the same in the event of any subsequent default. In the event of default in the pa~ment of this note, and if the same ia collected by an attorney at 1aw, the undersigned hereby agree(s) to pay all casta of cotlection~ including a reasonable attornep's fee. This note is secured by mortgage of even date eaecuted by the undersigned on certain property described tLerein and represents money actually used for the acquisition of said praperty or the improvementa thereon. Presentment, protest, and notice are herebq waived. - - - [S~] ii' lson Leroy Se ; [s~?L] Eliz th E. Self - [s~?L] [s~ir.] And shall duly, promptly, and fully perform, discharge, execute, effect, complete, and comply with and abide by each and every the stipulations, agreements, conditions, and covenants of suid promissory note snd of this mortgage, t6en this mortgage snd the estate hereby ereated shall cease and be null and void. The Mortgagor further eovenants as follows: ~ 1. That he will pay the indebtedness, as 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 (t100.00), wtuchever is Iess. 2. in or~ter mor~ itdl~- to protect t1~~ se~urit~- of t}~is ~iiortga~e, tLe ~tortg~gor, togi~th~r ~~itl~, nnd i~~ ad~lilir,n tu, th~ monthl~- pn~-nients under th~ t~rn~s of the not~ sec•ured hFreb~-, on thc~ first ciar ot ea~•h month until th~~ sai~l not~~ is full~- puicl, Will pu~- to th~ ~lortKa~*re, us trust~~~, (un~l~r th~~ t~rnis of thi, trust tis 1?ernin- aR~~r ~tat~~~il th~~ follo~cin~ su~~~: (s) A sum equal to the ground rents, if any, next due, ptus the premiums that will neact become due and payable on policies of fire and other hazsrd insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property (all sa estimated by the Mortgagee and of which the ~iortgagor is notified) less all sums already pa~d therefor divided by the number of months to eiapse before one month prior to the date when such ground rents, premiums, taxes, and assessments will become delinquent, such sums to be held by biortgageeintrusttopaysaidgmundrents,premiums,taxes,andspecialassessments. (b) The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the note secured hereby, shall lae paid in a single payment each month, to be applied to the following items in the order stated: (I) ground rents, taaes, assessments, fire, aad other hazard insurance premiums; (II) interest on the note secured hereby; and (III) amortization of the principal of said note. Any deficiency in the amount of sucl~ aggregate monthl~ payment shall, unless made good b~ the ~4ort- gagor pnor to the due date of the nest suci? pa~ ment, constitute an e~ ent• of default under this mortgage. At ;liortgagee's option, Mort~agor w ill pa3 a"late charge" not exceeding four per centum (4%} of any- install- ment ~~•hen paid more than fi'fteen (15) d$ysalterthe due date thereof to cover the extra erpense in~ol~ed in handling delinquent ~a3•ments, 1~.ut such "late charge" shall not be pay eble out of the proceeds of an~ sale made to satisf~ the mdebtedn~rss secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and all proper cvsts anci expenses secured Lhereby. . :3. If th~• total of tl~r parnu~D1S 111R<~P tllP ~tortgagor vnd~r (a) of pnra~;ruph 2 pr~~eedinK shall eaceed th~ an~ount of pa~-m~nts s~~tiiall~- n~adc~ b~- tt~~ ~1ort~a~~~~, as truste~, for ~?rounil r~~nts, ta~c~ an~l ~~.~.sc:,.sm~nts, arnl insuran~~i~ pmmiut?i,, a.s tl« ra~~• ma~ ~be, such ~xce~ss shall b~ crndite~l on sutisc~yuent pa~-nu~nts to b~ niade b~- th~• ~tortga~or for su~f~ items or, nt ~tortg~ee's option, as trustee, shall b~ r~fun~led to ~toM~agor. If, liou•ever, suc~t~ +tionthl~• pat-m~nts shall noE bc~ suffi~•ient to pa}- su~h items «hen th~ san~e shull becom~ clue and pn~-nbl~~, then th~~ ~fortgaKor shnll pa~- to thc ~tortgag~~~•, us icustc~, an~- uinount ne~essar~• to make up tlie defiei~nc~-. ti~u~h pn~-inent sl~all b~ mnde H•itl~in thirt~~ (:~0) dat-s after ~~ritten noti~e fron~ t~~e ~lortgagec stating tl~e amount of the deficienc~, «hich notice may be given by mail. If at. anp time the Mortgagor shall i9C1! ~V~ ~AGt ~N~ _ - - ~ _ ~ _ . _ _