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HomeMy WebLinkAbout2595 The Mortgagor hereby covenants with the Mortgag~, that he ie indetea.gibly aeized of said land in fee aimple or such other estatet ~f sny as ia atated herein; that he haa tull power nnd lawtul right to oon~ev the anme as afores.sid; that the land ia iree ~mm a11 encumbrancea except as herein otherwise recited; thst said~iortgagor will make such further sesurances to provo the aforesaid title to said land in said Mortgagee as may be re~n- ably required, end that said Mortgagor does hereby fully warrant the title to said land, and every psrt thereof~ and will defend the same against the lawiul claima of all persona whomsoever. Psov~n~n Atw~Ye that it the ~1lortgagor abnll pay unto the Mortgegee that certain promissory note~ of wluc6 the following is a subetantial oops, to wit: _ , ~n~• , n~ ~c,rt P~ er~~ , Florida. ';ove^;!~ez- 1 , 19 72 . FOR VALUB RBCSIVSD~ the undersigned promise(s) to pey to :'7LsI'•'~2n• jy;'1i>Tr :~:'~'rT,-`mL.-- T~.,..~ . . a corporation organised and e~dsting under the laws of ~F , or order~ the principal sum of T.7Err~ TTa~~t~~ *1~/? 00 ~ nnn , nn with interest from date at the rate of per centucn ( per annum on the unpaid balance until paid. The said principal and interest shall be payable at the o~ce af ,~T*^'mT.: •.~~'r~:rr'F :,'~CY'T:,'^z'~ , T••'_'. . 'n:>~• . .~?E'., ~..-7.~~h in , or at such other p1acE as the holder may designate in writ:ng delivered or mailed to the debtor~ in monthly installme*~ts of '"h` Yt~~ "'h"~~. Z~`Dollars 7 COIIIIriP.IIC1IIg OA the first day of ~(?C ~`:^ti' C Y ~ i9 7"?~ and continuing on the . firat dsy of each month thereafter until thia note is fully paid, eacept that~ if not sooner paid, the &nal payment of principal and interest shall be due and payable on the first day of ~~o~:e-~r3er 2~~2 , . privile~e ia reserved to prepay at any time, without premium or fee the entire indebtedness or any part thereof not less than the smount of one u~stallment, or one hundred dol~ars (~100.00), whichever is less. If any deficiency in the payment of any installment under this note is not msde good prior to the due date of the next such installment, the entire pru?cipal sum snd accrued interest shall et once become due and ~ay- able without notice at the option of the holder of this note. Failure to exercise this option ahall not constitute a waiver of the right to eaerc~se the same in~the event of any subsequent default. In the event of default in the payment of this note, and if the same ia collected by an attorney at law, tLe undersigned hereby agree(s) to pay all costa of collection, including a reasonable attorney's fee. This note is secured by mortgage of even date executed by the undersigned on certain property described therein and represents money actually used for the acquisition of said property or the improvements Lhereon. Presentment, protest, and notice are hereby waived. ,6: y.~r _J /~L_~'~ ` ~_l%r-~`--~-~- _ [5~.7 , ~nce , :~~'1~~!'.~ r ~ f - _ (SEAI,] - ~SSAI'~ i [SSAL] ~ And shall duly~ promptly, and fully perform~ discharge, e~cecute, eHect, complete, and comply with and abide ~f by each and every the stipulations~ agreements, canditions, and covenants of said promissory note and of thia i mo*tgage, then this mortgage and the estate hereby created shall cease and be null and void. - ~ The Mortgagor further coven~nts as follows: l. That he will pay the indebtedness, as hereinbeforE provided. Privilege is reserved to prepay at sny time, ~ without premium or fee, the entire indebtedness or any part thereof not leas than the amount of one installment, or one hundred dollars (i100.00), whichever is less. 2. In order more full~- to prntect th~ s~~c~urit~- of this n~ort~ag~, the ~~fortga~;or, together with, and in a~ldition to, th~ monthl~- pa~-ments w~der the terms of the note secure~l 1?ereb~-, on the first dat- of each montli until th~~ saicl note is fu~l~- puid, w•ill pn~- to th~ ~lortgagee, as trustce, (under the ternis of this trust as herein- aftc~r stateil) t!?e [ollo~~•ing sut~?s: . (a) A sum equal to the ground rents, if any, ne~ct due, plus the premiuma that will next become due and payable on policiea of fire and other hazard insurance covering the mortgaged property, pius taxes and assessments next due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is notified) 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 Mottgageeintrusttopaysaidgroundrents,premiums,taxes,andspecialassessments. ~ (b) The aggregate of the amounts payuble pursuant to subparagraph (a) and those payable on the note secured hereby, shall be paid in a single payment each month, to be applied to the following items in the order ~ stated: (I) ground renta, taxes, assessmenta, fire, and other hazard insurance premiuma; _ (II) interest on the note secured hereby; and ~ (III) amortizetion of the principal of said note. ~ Any deficiency in the amount of sucha~gregate monthly payment shall, unless made good by the Mort- ~ gagor pr~or to the due date of the next suci? payment, constitute an event of default under this mortgage. ~ At liortgagee's option, Mortgagor will pay a"late. charge" not eaceeding four per centum (4%) of any install- ~ ment Hhen paid more than fifteen (15) days after the due date thereof to cover the extra expense involved in ~ handling delinquent ~ay•ments, but such "late charge" shall not be pnyabte out o( the proceeds of any sale made to satisfy the indebtedness secured hereby, unless such proceeds are sufficient to discharge the entire indeUtedness and all proper c.osts and expenses secured thereby. ~ 3. If th~ total of t}~e pa~-m~nts mad~ b~- tl?e :~'Iort~agor under (s) of paragraph 2 preced~n~ shall exceed tlie ~mount of pa~-ments a~tuull~- made b~- t}~e llortgagee, as trustee, for ~round rents, taxc~s and asses.Sments, ~ and insuranre premiums, as th~• cas~~ ma}- be, such excess shall be credited on subsequent pa~ments to be made b~• thc ~tortgagor for such items or, at ~lortgagee's option, as trustee, shall be refunded to Mortgagor. If, hoKe~er, such monthl~• pa~-ments shall not be suffi~~ient to pa~- such items when the same sl~all become due and pa~-aUle, then the ~lortga~or shnll pa~• to the ~iortga~;ee, as trustee, an~• amount necessar~ to make up th~ de~ieienc~-. Such pa~•ment shall bc mnde within thirt~ (30) da~•s after written notice from t}~e Mortga~ee stating the amount of thc deficiency, which notice may be given by mail. lf at• any time the Mortgagor shall L:~~r~V7 P~C~riJ'7~ ~ r ; ; ~ ~ ~ t ~ : ~ ~ _ :