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Home My WebLink About0478 i ' , ' The Mortgsgor hereby covenante with the Mortgaget?~ thet he ia indefeasibl seized oi sa~'~ 1Qnd u fee a simple or such other estate; d sny as is atated herein; that he has tull power snd la ul tight to convev the same as sforesaid; that the laad ~s iree ~rom sll encumbrancss e~ccept as herein otherwise recited; that said7?~iortgagor will raske such lurther aeauranoes to prove the aforesaid title to said It?nd in said Mortgsgee as msy be reason- ablyrequired, and that said Mortgagor doee hereby fully warrant the title to asid land, and every part Wiereot~ and will defend the same againat the lswful cisima of eU persona whomsoever, Paov~nan ALw~~rs thet i[ the ~ioctgag~or shall pay unto the Mortgagee that cert~in promisaory note~ oi , which Lhe following is a aub~tant.iel oops~ La wit: ~ i 18, 500.00 - : ~ Florid~, K r'~ ~ ~'j• ~~1i~~~~~'z'~~.~s}!#"~a • ' , 19 72. Fon VwLOa Rsc~vsD, the undeesigned promise(s) to to :`~i`•~'.r~ .L ~llr !.~.i: PaY ~a!~ Ki . K~~ 1~i1lt1R'f k~l.. y: :.i.ti!L _ ~ fl:h•: ~L : ti t~> ~i SCJ~Tl`t~RN MORTGAiGS ASSOCIATE$~ INC• ~ ! f lawa of State of Florida ~~°OrPO1'~?Won organised and e~risting under the ~ or order, the principal sum of EIG~'68N THO~iJJSAND FNS ~ HUNDRSD AND NO/100-----------------..-__..~~ 18,500.00 with interest from date at the rate of seven per centum ( ~ Q/o) per annqm on the unpaid balance until paid. The said principal and interest shail be payable at the oBce of gppr~~3gN H~GA~ ASSOCIATES, INC. P. O. Box 38, Shenandoah Station in Miami, Florida , or at such other p1aoE as the holder may designate in writing delivet~ed or mailed to the de6tor, u? monthly installmenta of ane Hundred R~renty Three & 21/10~0~ (i 123.21 commencing on the first day of October , 19 72, and continuing on the fiist day of each month thereafter until thia note ia fully paid~ except tLat, if not sooner paid, the fina[ payment of principal and interest shall be due and payable on the firat day af Sept~nber , 2pp2, Pri ' ~s reserved to prepay at any time~ without premium or fee the entire indebtedness or any part thereof not ess than the amount of one uistallment, or one hundred dol~ars (i100.00), whichever ia lese. If any deficiency in the gayment of any installment under this note ie not made good prior to tLe due date of the next such installment, tbe entire principal sum and accrued intereat ehall at once become due and ~ay- able without notice at the option of the holder of this note. Failure to exercise Lhis option ahall not const~tute a R aiver of the right to ezer~ise the same in the event of any subsequent default. In the event of default in the payment of this note, and if tLe same ie eollected by an sttorney at law~ the undersigned hereby agree(s) to pay all costa of collection, including a reasonable attorney's fee. ! This note is secured by mortgage of even t~ate executed by the nndersigued oa certaia proparty described therein and represents monep actua7ly used for the acquisition of ssid pmperty or tLe impmvements thereon. Presentment, pmtest. and noticpi are hereby waived. ! ~ z ~ ~.1~ ,1 ~ ~ [s~AI,] ~~f Obr ant Wjas inqtoty~ f ~ -t-=_----- [s~AI.] Doroth~/M. Washinqton [~.J [ss~.] And ahall 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 said pmmissory note and of this mo*tgage, then this mortgage and the estate hereby created shall cease and be nuII and void. The Mortgagor further covenants as follows: 2. That he ~ pa3 the inaebtedness, es he~befor«~ provide~. Privilege is re$erved to prepav at any time. ' without premium or fee, the entire -indebtedneas or any part thereof not less than t6e amount of one iastallment, or one hundred dollars (i100.00), whichever ia less. 2. In order more full~ to pmtect the securit~' of this mortgage, the tifortgagor, together with, and in addition to, th~ monthl~- pat~nents under the terms of the note secured hereby, on the first da~ of each month until the said notr is fu~1~ paid, will pa~• to the 114ortga~;ee, as trustee, (under the terms of this trust as herein- after stated) the following sun?s: ~ (a) A sum equal to the ground rents, if any, next due, plus the premiuans that will next become due and payable on policiea of fire and other hasard insuranoe covering the mortgaged property~ plus taxes and assessments ~ neat due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is ; notiSed) less all sume alreadq paid therefor divided by the number of months to ela~pse before one month prior to the date when such gmund rents, premiums, ta~ces, and assessments will become delinquent, " such sums to be held by Mortgageeintrusttopaysaidgroundrents,premi~ma~taxes,andspecialassessments. ` (b) The sgg~+egate of the amotints payable pursuant to subpsragraph (a) and those payable on the note secured ~ ' hereby, ahall be paid ia a single payment esch month, to be applied to the following itema in the order ? ststed (I) ground rents, ta:es, aseessments, fire, aad other hasard insurance premiums; (II) interest on the note eecured hereby; and (IIn amortisation of the principal of eaid note. _ Any deficiency in the amount of such~gre gate monthly payment shall, unless made good by the Mor~ ~ gagor prior to Lhe due date ot the next such payment, const~tute an event of default under this mortgage. ; At Mortgagee's option, Mortg agor will pay a"late charge" not exceeding four per centum (4%) of any instail- ment when paid more than fifteen (15) daya atter the due date thereof to cover the extra expense involved in ~ handling delinquent ~ayments, but such "late charge" shell not be payable out of the proceeds of eny sale made to satisfy the ~ndebtedness secured hereby, unless such proceeda are su$'icient to discherge the entire indebtednesa and all proper costs and expenses secured thereby. ` 3. If the total of the pa~ n~ents made b~ thc :~iortgagor under (a) of paragraph 2 preceding shall exceed ~ the amount of pa~-ments actuallt• rnade bti- t~e ~14ortgagee, a.c irustee, for ground rents, taxes and assessments, ' and insurance premiums, as thc~ case ma~• be, such excess shall be credited on subsequent pa~ments to be made i bt the ~toKgagor for sucl~ itetus or, at :~fortgagee's option, as trustee, shall be refunded to Mortgagor, If,_ ` howe~er, such monthh• pa~ments shall not be sufticient to pa~- such iterns when the satrte sh811 become due ~ anc! parable, then the ~lorigagor s}iall pay to the Mortgagee, as trustee, anti amount necessary to make up f th~ de~icienc~-. Such pa~-ment sLall ~e made v~iLhin,thirtc (30) days a(ter wTitten notice from the Mortgagee ~ stating the amount of the deficieney, which notice may be given by mail. If at any t,ime the Mortgagor ah$11 B001c rACE ~ ~ R ~:11~ ~ - _ , , i~"~~~ ~