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Home My WebLink About4318 - ' ' ~ • ~ The Mortgsgor herebq covenanta with the Mortgagee, that he is indefea.~ibly seized oi sAid lend in fee eimpla ~r e~~h otl~er eatates ~f any ~ ia staLed harran; that he has tull power end lawiu! righ~ to convev the snme ae atoresaid; thst the iand is free ~rom all encumbrances eucept sa herein othenvise recited; that said~tortgegor wili make such further asaur~wcea to provo t,he aforesaid title to seud land in said Mortgagee ss may be rexaon- ablyreq uired, and thst said Mortgagor does hereby fullp warrsnt the title to said land, and evory par6 thereot~ and will defend the asme ageinst the Iswful clsima of sll persons whomsoever. PROVinsn A~.w~Ye that ii the l~iortgagor ahall pay unto the Mortgsgee that oe~taiu promiseory note, of which the followiug is a aubatantial oopf, to wit: = 21,500.00 Fbrt Pierce ,Florida. December 27 ~19 ~2. Foa Vwt.ug Rsca[vr,u~ the underaigaed promiee(s) to pay to J. T. STEyiART N10R'P('~GE COMPANY, INC. la~vs of State of Florida ~ a°O~°~~OII organi~d and ezisting under the . or order, the principal sum of ZWBNTY ONE TIiOUSAND FIVE HUNDRBD AND NO/li~--•- ~ollars 21,Si~.00 with interest fmm date at the rate ~ Seven per centum ( 7 oJo) per annum on the unpaid baiance until paid. The said principal and interest shali be payabte at the offioe of J. T. STSWART MOR~PGAGS COi~ANY, INC. Suite 300-100 Miracle Mile in Ooral Gables, Florida ~ or at such other place ae the holder mey designate in writ:ng delivered or mailed to the debtor, in monthly installments of One Hundred Pbrty Three and 19/l~~ 143.19 commencing on t6e first day of February , lg 73 , end continuing on the first dsy of each month tLereafter until thia note is fully psid, exoept that, if not sooner paid, e; nal ayment of principal and interest shall be due and payable on the first day of January l, ~'3? Pri ' ia reserved to prepay at any time~ without premium or fee the entire indeb n~ r any pert p rt thereof not than the amount of one mstallment, or one hundred dol~ars (E100.00), whichever is less. If any deficiency in the payment of any inatallment under this note is not made good prior to the due date of the neat such inatallment, the entire principal sum and accxued interest ahall at once become due and Fay- able without notice at the option of the holder of this note. Failure to exercise this option shall not consWtute a waiver of the right to eaerc~se the same in the event of sny subsec~uent default. In the event of default in the payment of this note, and if the same is collected bp an attomey st Inw, the undersigned hereby sgree(s) to pay all costa of collection, including a reasonable attorney's fee. This note ia secured by mort~a~e of even date executed by the undersigned on c~rtain pmperty described therein and rapresents money actually used for the acquisition oi said property or the improvemente thereon. Presentment~ proteat, and noticp? are 6ereby waived. _~/s/ James r.ester seipn ~~L~ Jaa?es Lester Selph ~ /s Sondra Gail Selph ~~L~ Sondra Gail Selph ~ - - ~~L~ [ss~+LJ And shall d~ly, promptly, and fully pedorin, discharge, execute, effect, complete, and comply with and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of thie mo*tgage, then this mortgage and the estate hereby created shall ceage and be null and void. The Mortgagor farther covensnts as followa: 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 dollara (=100.00), whichever is less. ; 2. In order more fulh- to protect the securit~• of this mortga~;e, the ~fortga~?,or, together with, and in a~ldition to, [li~ monthl~- pa~-ments under the terr?is of the note sc~cured iiereb~-, on the first da~- of each month ~ tt~~ti) thc said note is fu~l~ paid, ~+ill pa~• to the ~1ortRugee, as trustee, (under the terms of this trust as hcrein- ; aft~~r statccl) the following sums: ~ (a) A sum equal to the ground rents, if any, next due, plus the premiums t6at will next become due and payable ! on policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments f next dne on the mortgaged property (all ss estimated by the Mortgagee and of which the Mortgagor is ; notified) less all eums alrea.dy paid theretor divided by the number of months to elapse before one month i prior to the date when such ground rents, premiums, taxes, and assessments will become detinquent, s such sums to be held by Mortgageemtrusttopaysaidgroundrents,premiuma,taxes,andspecislsssessments. ~ (b) The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the note secured f hereby, shall be paid in s single payment each mont6, to be applied to t6e following itema in the order stated: (I) 8round rents, taxes, assessments, Sre, and other hasard insurance premiuma; (II) interest on the note secured hereby; and (III) amortiaation of the principal of said note. Any deficiency in the smount of such aggregate monthly pa~~ment shall, unless msde good by the Mort- gagor pnor to the due date ot the next such payment, constitute an event of default under this mortga{;e. At Nlortgagee's option, Morteagor will pay a"late charge" not exceeding lour per centum (4°Jo) oi an~ install- ; ment when psid more than fi[teen (15) days after the due date thereof to cover the extra expense invol~ ed in ' handling delinquent payments, but such "late charge" shall not be payable out of the proceeds ot any sale i made to satisfy the ~ndebt,edness secured hereby, unless such proceeds are sufficient to d~scharge the entire indebtedness and all proper costs and expenses secured thereby. :3. It the total of the pa~-~uents n~ade h~• tl~e 1lortgugor under (a) o( paraKraph 2 preceding shall exceed the amount of pa~-ments a~tuallr riiade b~• tj~e ~tortgagee, as trustee, for ground renis, taxes and assessnients, ~ end insuran~~ pr~miums, as th~ case ma~~be, such excess shall be credit~~d on subsequent pa~-mPnts to be made b~ thc~ ~iortgagor for such items or, at ~iortga~;ee's option, as trustee, shall be rcfunded to biortgagor. I(, however, such montl?I~- pa~•ments shnll not be suffi~ient to pa~ such items whcn the same shal! become due i and pa~-ablc, then thc~ ~tortgagor shal) pa~- to th~ ~lortgageP, t~s trustee, an~ $n~ount necessar~ to make up ~ tl?~ de~i~ienc~•. Su~h pa~-ri~cnt shall be mude within thirt~ {30) da~-s after K-titten notice ftom t~e 1~lortga~;ee stating the amount of the deficiency, which notice may be ~ en b mail. If at any time the Mortgagor shall ~~~i~ _ _ _ ~ .=a ~ - ~ ~ - , ~