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Home My WebLink About2380 The Mortgagor hereby cooenanta with the Mortgagee, that he is indefea.4ibly aeized oi said land in fee eimple or such other estatet ~t any ea is stated herein; that he hsa full power end lawtul right to oonvev the aRme • as atoresaid; that the land ia iree ~mm all encumbrances except as herein otherwise recited; that ssid ;'~lortgagor will make such fur~her asaurancea to provo t6e aforesaid title to said land in said Mortgagee as mny be reason- ablyreq uired, and that said Mortgagor does hereby fully warrant the title Lo said land, and every part tl~ereot, and will defend the same against the lawful clsima oi all persona whomsoever. PROV 1DED ALN?AYB LllB~ lI LI18 ~10['E~~Ol' 8b~ p8~ 11IIL0 Lhe MOf~8ge6 ~AL CBiL81II pl'OIIIISSOly i10~~ oi which the following is a aubatsntial copf, to wit: = 23, 500.00 Fbrt Pierce , Floride. _ pE+r_e•nber 4 , 19 ~2. FOA VALIJS RSCIIIYBD~ the underaigned promise(s) to p~?y to SOITP!iE?N M(~RTGAGF. ASSOCIATFS, TNC, ~ a corporation oeganised and e~osting under the lawe of State oE Arkansas ~ ar order~ the principsl sum of ~IRTEEN THOUSAND FIVE HUNCR£D A2~D *l0/100-------------------------------~11ai's (i 13,SC~0.00 with interest fmm date at the rate of seven per centum ( per annum on the unpaid balance until paid. The said priacipal and interest shall be payable at the off'ice of SOU'TtiERN MORTC~GE I,SSOCIATE:> , ZNC'. P. O. Box 38, Sh~nandoah Station in Miami ,~'lorida ~ or at such other p1acE as the holder may designate in writing delivered or mailed to the debtor, in monthly installmenta of Eighty Nine and 91/100--------- Dollare 89.91 commencing on the firat day of January ~ 19 73 and continuing on the first day of eech month thereafter until this note is iully paid, except tLaDt~ifnno~tesooner paid, the fina21 pa~ment of principal and interest shall be due and payable on the first day of a~ privilege ia reserved to prepay at any time~ without premium or fee, t6e entire indebtednesa or any part thereof not leas than the amount of one u~stallment, or one hundred dollars (E100.00), whichever is less. If any deSciency in the payment of any installment under this note is not made good prior to the due date of the next such instsllment, the entire principal sum and accrued interest shall at once become due and Fay- able without notice at the option of the holder of t6is note. Failure to exercise this option ahall not constatute a w siver of the right to exercise the same in the event of any subsequent defeult. In the event of default in the payment of this note, and if the same ie collectsd by an attorney at law, the unde.rsigned hereby agree(s) to pay all costa of collection, including a reasonable attorney's fee. This note ia secured by mortgag_e of even date e~ecuted by the undersigned on certain proptssrty described therein and represents money actually used for the acquisition oi said property or Lhe improvemente thereon. Presentment, protest, and notice are hereby waived. /s/ Mich~eZ Thomas Murray ~~L~ ~t'ic'~ael Thomas Murray ~~Jackie L. Murrav (~L~ ?ackie L. tiltlr~"d'~ ~ - [SEAL] ' And shall duly, promptly, and fully perform, discharge, execute, effect~ complete, and comply with and abide ~ by each aad every the stipulations, sgreements, conditions, and covenants of said promissory note and of this ~ mo?tgage, then this mortgage and the estate hereby created shall cease sud be null and void. g The Mortgagor further covenants as follows: ~ 1. That he will pay the indebtedness, as hereinbefore proyided. 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 uistallment, or one hundred dollars (i100.00), whichever is less. 2. In order morc~ full~- lo protect the securit~- of this mort~age, the ~tortgagor, together with, and in u~i~lition to, th~ n~onthl~- pa~-inents under th~ ter~ns of tt?e note sec•ure~i herei»-, on the first da~• of each m~nth uutil ti?e said notr is fu~l~- puid. ~~-ill pa~- to tlie liortgn~e~, ns trustee, (uncl~r the ternis o[ this trust as lierein- aft~~r stAtcti) the fo11oN•ing sun?s: (a) A sum equal to the ground rents, if any~ neat due, plus the pre~iuma that will next become due and payable on policies of fire and oLher hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property (ail ss 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 Mortgageemtrusttopaysaidgroundrents,premiums,taxes,andspecialassessments. (b) The aggregate of the amounts psyable pursuant to subparagraph (a) and those payable on the note secured hereby, shall be ~aid in a single payment each month, to be applied to the following items in the order stated: (I) gtonnd rents, taaes, assessment8, fire, and other hazard insurance premiuma; ~ (II) interest on the note secured hereby; and (III) amortization of the principal of said note. 4~ ~ Any deficiency in the amount of suchag gregate monthly payment sball, unless made good by the Mort- ~ gagor pnor to the due date o[ the next such psyment, constitute an eveat of deisult under this mortga~;e. ~ At ;1lortgagee's option, Mort~agor will pa~ a"late ci~arge" not exceeding four per centum (4%) of any install- ~ ment when psid more than fifteen (15) days after the due date thereof to cover the extra expense invol~ed in handling delinquent pe y~ments, but such "late charge" shall not be payable out of the pra;eeds of any sale ~ made to satisfy the mdebtedness secured hereby, unless such proceeds are sufficient to discharge the entire " inde5tedness and all propec costs and expenses secured thereby. :i. If the totel of the pa~-ment~ ~nade b~- t}~e ilortgagor under (s) of para~raph 2 precedin~ shall exceed R the amaunt of pa~-mcnis actunll~• made b~- the ~iort~agee, as trustec, for ~round rnnts, taxes and assessments, ~ and insurance pr~miums, s.5 the c~ase ma~= be, such e~cess shall be credited on subsequent pa~'ments to be made b~ th~~ ~tortgagor for suc~l~ iten?s or, at 1lortgagee's option, as trustee, sl~all be refunded to Mortgegor. If, , ~ hoWC~er, such niontt~l~ pa~-ments shull not be sufTi~ient to par such items when the same shall become due ~ and pa~'able, then the ~tort~ngor shflll pa~ to the 4lortgagee, a.s crustee, an~• amount necessar~ to make up th~ de~icienc~~. ~uch parmc~nt sLall be mude within thirt~ (~30) ~ia~-s after written notice from the Mortgagee ~ stating tl~e amount of the deficiencr, ~vhic6 notice may be given by mail_ If at any time the Mortgagor e6a11 t, ~ ~'t~~ ?38J Y~uK E - ~ _ . . . ~ ~..~'.~~~'~``s.~fa ~ e~ ~1'"~~-'~n G:- - - a,.e~~:~a.~~-~° _ .