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HomeMy WebLinkAbout0376 ~ . , a `N ' The Mortgagor hereby covenants with ~he 1liortgagee~ that he ia indeteasibly seized oi said lnnd in fee simple or such other estate~ ~i any as is at$ted harein; that he has tull power and lawiul right to convev the snme aa aforesaid; that the lend ia iree from all encumbrances elccept ss herein otherw ise recited; that said7liortgagor will make such further essurances to pmvo the aforesaid title to said land in said Mortgagee as msy be reason- ablyrequired~ and that said Mortgagor does hereby fully warrant the title Lo asid land, nnd every part thereot~ and will defend the same against the lawful claims oi sll persons whomsoever. PROVtnsn_ ALwaYS that if the ?~iortgsgor ahall pay unto the Mortgagee that certain promissory note, of which the following is substantial copf, to wit: _ = 23, ~00. C10 ~brt Pierce , F7oritls. November 9 ,19 ~2. FOR VALUS RECEIVSD~ the undersigned promise(s) to pay to SOC'Tt?ERV ti?!?j27Y~.~C~ ASSC~`'IATF.`' , INr, , s corporation organised and e~dsting under t6e lawa bf ~ t a* c~ n f A~-ka ns a s ~ or order, the principal sum of 'T4~ EI~Ti'Y TH RF.E THOUSAND NINE HUh~R^D AND NO/2~0-------------------Dollars 23,900.00 with interest from date at the rete of seven per centum ( per annum on the unpaid balance until paid. The said principal and interest shall be payable at the of!'ice of cOUTF?ERN MnRTC'~~GE ASSOCIATfS, I":C. P. O. :jcx 3£', ~henanc~oah ~tation . - ~ *~ia;^i ,^lorida , or at such other plac.~ as the holder may designate in writ:nq delivered or mailed to the debtor, in monthly installments of Qn''- }i~?ndrPd rifty *~ine and 1~; lOC~o~j~ ?~9 .17 commencing on the first day of necer.tber , 19 72, and continuing on the first day of each month thereafter until this note is fully paid, except thst, if not sooner paid, the final papment of principal and interest shall be due and payable on the first dsy of t~ovember , 2002 , Privile~e is reserved to prepay at any time, without premium or fee the entire indebtedness or any part thereof not less thaa the amount of one uistallment, or one hundred dol~ars (5100.00), whichever is less. If any deficiency in the payment of any installment under this note is not made good prior to the due dats of the neat such installment, the entire principal sum and accrued interest shall at once become due and ~ay- able a~ithout notice at the option of the holder of this note. Failure to exercise this option shall not constatute a waiver of the right to exerc~se the same in the event of anv subsequent default. In the event of default in the payment of this note, and if the same ia collected by an attorney at law, the undersigned hereby agree(e) to pay all costa of collection, including a reasonable attorney's fee. This note ia secured by mortgage of even date executed by the undersigned on certain property described therein and represents money actuallp used for the acquisition oi said property or the improvements thereon. Presentment, pmtest, and notice are hereby waived. «~s~ ~~~ene H. Lemire (~L~ ~s r ne•t'~a Lc-~ire (SEAL] . c.__~______ - ~SBJ?L~ ~ ~ ~w ~~L~ ~ And shall duly, promptly, and fuUy perform, discharge, execute, eSect, complete, and comply with and abide ~ by each and every the stipulations, agreements, conditions, and covenants of sa~d promissory note and of thia ~ mo*tgage, then this mortgage and the estate hereby created shall cease and be null and void. The Mort.gagor further covenants as foAows: ~ 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, ~ without pr~mium 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 order more full~- to prot~~ct the s~~c?~rit~- of this mort~a~c~, the 1loriga~or, together With, ancl in acl~lition to, the monthl~• pa~-n~ents w~der the tern~s of th~ notc~ s~c•ure~i h~reb~•, on the first da~- o[ cach month w~ti! the said note is full~ paid, ~~ill pa~- to thc \IortRa~~e, as trustc~e•, (under the terms o[ this trust as herein- aft~~r statccl) thc followi~ig suuis: (a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable ~ on policiea of fire and other hazard insursnce covering the mortgaged property, plus taxes and assessments next due on the mortgaged property (all as estimated by the r'Iortgagee and af which the Mortgagor is notiSed) less all sums already pa~d therefor divided by the number of months Yo elapse before one month prior to the date when such ground renta, premiums, taxes, and sssessments will become delinquent, such sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taues,andspecialassessments. (b) The aggregate of the amounts payable pursuant to subparagraph (a) and thase payable on the note secured , hereby, shall be paid in a single payment eacb month, to be applied to the following items in the order ~ stated : m ~ (I) gtound rents, taxes, asse.ssments, fire, and other hazard insurance premiums; (II) intereat on the note secured hereby; and (III) aanortiaation of the principal of said note. - ~ Any deficiency in the amount 6f suchaggregate monthly pa~ ment shall, unless made good by the Mort- _ gagor pr~or to the due date of the next such pavment, constitute an event of default under this mortga~;e. i' At Alortgagee's option, Mortoagor will pay a"late charge" not exceeding four per cent~m (4%) of any install- ~ ment w•hen paid more than tifteen (15) da}s after Lhe due date thereof to cover the extra ecpense in~ol~ed in handling delinquent pa3•ments, but such "late charge" shall not be payable out of the procseeds of any sale made to satisfy the indebt,edness secured hereby, unless such proceeds are suff'icient to discharge the entire ~ indebtedness and all proper costs and expenses secured thereby. :3. If the total of the pa~-i~ients mad~ b~' th~ ~tortKagor under (a) of para~raph 2 precedin~ shall eaceed ~ the nmount of pa~-ments actu~ll~• mad~ br t~~e ~tort~agee, as trustec, for ~round rents, taxes and assessuients, ~ and insuran~e pre?nntn?s, as thc~ cas~ ~na~~be, such excess shall be cre~lited on subseyuent pa~~ments to be made ~ b}- th~• ~tortga~or. for su~h iten~s or, at ~1oMga~ec's option, a.c trustee, shall i~c refundeci to ~iortgngor. If, howe~er, such monthl. pa~-ments shall not b~ suffi~ient to pa~- su~h items when tt?e same shall become duc ~ and pa~•able, then the ~Iort~a~or shnll pa~' to the ~Iort~agee, a.s truste~, an}- amount necessar~ to make up th~ deficienc~•. Su~l? pa~-ment shell be mude Hithin thirt~ (:30) da~-s ufter ~-ritten notiee from the tifortga~;ee ~ stating the amount of the deficienc~, which notice may be given by mail. If at. any time the Mortgagor ahall b t9CK ~~vt7 ~1~ ~i~ ~ ; r F~ ~ .d_ - .