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Home My WebLink About1834 , The Mortgagor hereby, oovenonta with the Mortgsgee~, tbat he is indeteaaib~j sei:ed oi eaid land ia !ee ample or such other est~tei ti aqy as i~ ~~ated herein; that he has tull power uid lawtul right to oonvev tLe s~me as atoreeaid; t~u?t the luid is iree from all sncumbnaces eaospt as heroia otherwiss recited; th~t sudlVlortgagor will make such inrther sesuranoes to prova t6e afore~aid 4tle to ~id laad ia said Mortgagee as ma~ be r~son- ~ ab~yrequie~ed~ and th~?ti said Mortgagoe does Lereby ! ~vursati the uWe to said lsnd~ ~nd evory part thereot, •nd will defend the same a~gsinat the bwiul claima oi~ pereons whomsoever. PROVIDED AL~YATS LLwL ~f L~le MOT~B~O! bbtU pt~ 11IIt0 ZLO MOrfg~N ~tt OATktR prOA318801~i AOE~~ oi ~rhich ~ha following is ~ substsntial ooPy~, to witi: i 21.000.00 Fbrt Pierce , ~orida. . alpril 26 ~ 19 ?3 , Fon Vuz.vs RscstvsD, the unde~ed pmmiee(a) to psy to McCauqha~n I~lortgaqe Wmpany . Znc. ~ , s oorporstioa organised and e~usting under the Isws ot Sta?te of Florida ~ or order~ the principal sum of ZNffi~Tl'Y Ot~ ~O~ND ~ND NO/100 ` Dollara (i 21.000.00 with interest from date at ~ the rate of seven per oentum ( 7%) Per annum on the unpaid balance until paid. ' The eaid principal~and iatereat shall be payable at the oflioe ot M~ughan !loxtgaqe, O~~y, Inc. Ibst Offic.e ~Box 1429 ~ O~ral G~les, -Florida , or st auch ~other plsoe as the holder msy designate in writing - delivered or mailed to the debtor, in monthly installmente ot O~e Hundred ~irtY Nine and 86/1D9llais 139.86 j, commencing on the first day of . June , 19 73, and oontinuing on the : firat day of each month thereafter until thia note is fully psid, eaoept thst, it not eooner paid, the finsl payment ; of princapal and mterest ahall be due and payable on the first day oi May ~ 2003 . ~ privi]eae is reserved to prepay st any time, witLout premium or fee the entire iadebtednees or any part t,6ereof notl~eea than the amount of one instsllment, or one hundred dol~ara (i100.00), whichever ie less. If any deficaency in the paym ent of any installment under this note is not msde good prior to the due dste of the neat such installment, the entire principal sum and acrxued interest shall at once beoome due and ~ay- able without notice at the option of the holder of this note. Fsilure to exercise this option ahall not oonatitute a waiver of the right to eaercise the same in the event of any subeequent def sult. In the event of def ault in Lhe ~ payment of this note, snd if the same is collected by sn attorney at lsw, tLe undersigned hereby sgree(s) to ~ pay all ooata of collection, including a reasonable attorney's fee. ~ 1'hia note ia secured by mortgage of even date executed by the undersigned on c~rtain property described therein and representa money actually used for the soquisition of asid propertiy or the improvements thereon. . Preeentment, protsat~ and notice are hereby waived. . ~ - - ; ' ; Delos Martz s • ' . ~ [SSAL] ~ . Honnie J. M ~ _ [88AL] ~ . . ~ 3 ~ And shall duly, promptly, and fully perform, discharge, execute, effect, complete, snd comply with and abide by each and every the stipulations, agreemen~s, conditiona, and covenants of sa~d promissary note and of thia ~ mo*tgage, then thie mortgage sud the eatate hereby created ahall ceaee and be null and void. • € The Mortgagor further ~oveaanta as follo~va: . ` 1. That he willpa y the indebtedness, as hereinbefore provided. Privilege is reeerved to prepsy at an~r time, ; without premi~ or fee, the e~tire indebte~nese or any part the~+eof not lesa thau the amount of one installment, or ; one hundred dollats (i100.00), whichever ia lesa. 2. In order more full~ to pmtect the securit~ of this mortgage, the Mortgagor, t.ogether with, and in adciition to, thc monthl~-_pa~•ments under thc tern~s of the note securecl hcreb~, on the first day of each month . until tlie said notc~ is fu~l~- paid, will pa~ to the Mortgagee, as trustee, (under t}ie terms o[ this trust as herein- afler stated) the [ollowing sunLS: ~ (a) A sum equaJ to the ground renta, if suy, next due, plua the premiuma that will next beoome due and payable i on policies of fire and other haaard insurauce oover?ng tLe mortgaged property, plus taxes and assessments next due on the mortg,aged property (sil as eatimated by the Mortgagee and of which the Mortgagor is ~ notified) les8 all suma already psid therefoly d~vided by the number of montha to elapae before one month j prior to the date when such ground rente, premiums, taxes, and assessments will become delinquent, # such sums to be held by Mortgsgeemtrusttopayeaidgroundrents,pr~miums~taxea,sadapecialasse.ssments. # (b) The aggnegate of the amounts payable pursuant to subparagraph (a) and thoee payable on Lhe note secured ~ hereby, ehall be paid in a single psyment esch month~ to be applied to the following items in the order ~ etated ~ (I) g~ound renta, taxes, assesaments, fire. aad other haaard inaurance premiuma; f (II) interest on the note secured heleby; and ~ ~ (IIn amortisation of the principal of said note. ~ ~ Any deficiency in t6e smount of suc~?aggregate monthly payment shall~ unleas made good by the Mort- 3 gagor prior to the due date ot the next such payment, const~tute an event of defsult under this mortgage. At Mortgagee'e option, Mortgagor will pay a"late charge" not exceeding four per centum (4%) ot any install- ment when paid more thsn fifteen (15) days atter the due date thereof to oover the eatra expense involved in handling deliaquent ~ay menta, but such "Iste charge" shall not be payable out ot the proceeda of any sale made to satisfy the indebtedness secured hereby, unless such proceeda are su~'icient to d~acharge the entire ; indebtedness aud sll proper oosts and expenses secured thereby. 3. I( the total of the pa~•n~ents ~nade b~- the Mortga~;or under (a) of para~;raph Z preceding shall exceed ~ the amount o( ps~ ments actualh- i~~ade b~ t~e Mortgagee, as trustee, for ground rents, taxes and assessments, and insuranee premiums, as the case ma~~be, such excesa ahall be crec3ited on subsequent pa~ments to be made ~ b~ thc 4tortgagor for such items or, at Mortgagee's option, as trustee, shall be re(unded to Mortgegor. If, , however, such monthl~ pa~ ments shall not be sufficient to pa~ such items when the same ahall become due and pa•able, then the Mortgagor ahall pa~ to the Mort~agee, a~ truatee, an~ amount necessarv to make up the de~cienc~•. Such ps~•ment shall 1x~ made within thirt~ (.30) davs efter written notice from the Mortgaf;ee s atating the emount of the deficiencq, which notice msy be given by msil. If st any time t6e Mor r shall ~ e`tR',~-CV <<Cf'.~7c1,. ? i' _ _ ~ _ Z ~ ~ ~-y