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Home My WebLink About2147 a e~i The Mortgagor hereby oovenants with the Mortgsge~+, that he ia iadefeanib~y eeised oi se~id land in fee eimple or such other estste; J aaty as is at~ted herain; th4t he Lss full power and lewful right to oonvev the snme us ~?foressid; that t6e lsnd ~s iree ~rom aU encumbn~nces except as hereia othervvise recited; th~t esid~ldortgagor ~vill make such turtber aaeutanoes to prove the atoresaid titl~ Lo eaid tand in said Mortgagee ae ma be reaeon- ab~yreq uired snd t6n6 said Mo ~y y sad will deieud the ee?me ~gsiastr~th~lawiul ~claimayot sll ppe~reons hom oe~er~d land, snd every part thereot, Paovcnaa ALw~~rs tLst it the biortgagor s6~11 peU unto tha Mortgagee that oectsin promissory note~ oi .vhich the following is • subecancist oops, to wit: : 28, 4~0.00 Pbrt Pierce ~ , ~orids, May 29 , 19 73 Foa Vwi.vs Rgcstvsa, the underaigned pmmiee(s) to pqy to McCAUGH~lt~T MORTC'~AGB OOliPANY, INC. - ~ , s oorporation organised snd e:istiu,g under the laws of State oF Florida ~ or order, the princigal eum of ZWSrITY BIGHT THOUSAND FOUR HUrIDrRID AND NO/200-------- Dollars (i 28 , 400.00 with interest from date at t6e rate of seven , per centum ( 7 oJo) per annum on the unpaid balance ut?til paid. The said principal snd intereat ahall be payable at the o~oe of ~ IKc~UGHAN MORRC,I~GL OOMP~lNY, INC. , Pbst OffiCe BoX 1429 ~ ~ ~ in Coral Gables , F2orida , or at sucb other plaoe as the Dolder may designste in ~vriting delivei+ed or mailed to the debtor~ in monthly instsllmente of One Hundred Eighty Nine and 14/1Qlallars 189.14 eouvnencing on the first day of July , 19 73, aad oontinuing on the first day of each month t6ereatter until tLis note ia fully paid, e~oept tbst, if not eooner paid, tLe final payment of princ?pal and interest shall be due and paysble on Lhe f rat day oi June , 2003, Pri ~ ~a reserved to prepay st any time~ wit~out premium or fee the entire indebtedness or any part thereof not • thsn the amount 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 made good prior to the due date of the. ne~ct such installment, the entire principsl sum and accrued interest ahall at once become due and ~ay- able without notice at the option of the holder of this note. Failure to eaercise thia option shall not oonstatute a waiver of the right to eaemase the same in the event of any aubsequent default. In the event of default in the payment of this note, and if the ssme is collected by an sttorney at lsw, the nnderaigned hereby agree(s) to psy sll c~sta of collection, including s ressonsble attorney's fee. Thia note ia secured by mortgage of even dats executed by the underaigned on c:ertain proper~y described thecein and represents money actually used for the acquisition oi said pmperty or the improvemente thereon. Preeentment, proteet. and noticp, are hereby waived. /s/ Richard Glenn Gudger ~~L~ ~ ar enn ger ~ , /s/ Elaine Gudger - ~ ~ ~~L~ aine Gu_qer . . . . [3,gAL] ; ~ • - [38AL] And ahatl duty, promptly, aud fully perform, dissharge, execute, e~ect, compkte, and comply with and abide by each and every the atipulationa, agreements, conditions, and covenauta of said promissory note and of thia mo*tgage, then this mortgage and the estate hereby created shall cease and be null and void. The Mortgagor further oovenants as follows: ~ . 1. 1'hat he witl pay the indebtedriess, as hereinbefore provided. Privilege 'is reserved to pnepay at 8ay time~ without p' i+em~ium or fee, the entu+e indebtedneas or say part thereof aot less than the amount of one inatalIment, or one hundred dollars (i100.00), whichever ia lesa. - 2: In order morn fulh to protect the securit} of this mortgage, the Mortgagor, together with, and in adc~ition to, the monthl~- pat nienta under the tern~s of the note secured hereb~-, on the first~ dati~ of each month until tlie said note is (u~h• puid, will pa~- to the lblortgagee, as trustee, (under the terms of this trust as herein- after statetl) the following sw~ts: _ ; (s) A sum equsl to the ground rente; if any, next due, plua the premiums t6at will next beoome due and payable on policaea of Sre and other ha:ard insurance covering the mortgaged property, plus t,~uces and assessments 'i neact due on t6e mortgaged property (all ae estimated by the Mortgagee and of which the Mortgsgor is notiSed) less all eums already paid therefor divided by the number of months to elapse before one month ; prior to t6e date when such ground renta, premiums, taxes, aad assessments will become delinquent, such sums to be held by Mortgageemtnisttopaysaidgroundrents,premiums,taxes,andspecialass~sments. I (b) T6e aggregate of the amounts payahle purauant to subparsgraph (a) and Lhoee payable on Lhe note secured hereby, shall be paid in a s~ngle payment each month, to be applied to the following itema in the order stated (I) 6round rents, teu~ea, sssessmente, fire, and other hasard insurance premiums; (II) interest on the note eecured herebq; and (Im ~ortisa~ion of the principal of said note. Any deficiency in the amount of suchaggregate monthly payment ahall, unless made good by the Mort- ~ gagor prior to the due date of the next such payment, const~tute an event of default under this mortgege. ~ At l~~fort~aec~'s ontion; Mort¢aeor will pay a"late charge" not exceeding four per centum (4°Jo) of any install- ment when paid more t6an ~fteen (15) days after the due date thereof to cover the extra expense involved in hsndliag delinquent ~ayments, but auch "late charge" shall noL be payable out of the proceeds of any sale ~ made to sat~sfy the indebtedness secured hereby, unless such proceeds are suff'icient to discharge the entire ! indebtedness and all pmper costs and expensea secured thereby. ; 3. It the total of the pe~n~ents madc~ b~• the 4lortga~;or under fa) of paragraph 2 preceding shall exceed ± ; ti~e amount of pa~-ments actusilt- madc~ br the Mortgsgee, a4 irustee, for gcound rents, taxes and assessments, ~ and insurance pre~niums, aa thc case ma~ ~be, such excess shall be credited on subaequent pa~ ments to be made f ~ b~ the Mortgagor for such items or, at Mortgagee's option, as trustee, shall be re(unded to Mortgegor. If, i however, such montl?lv pa~ ments shall not be suffi~ient to pa~ such items when the sanie shall become due ` and pa~able, then the ~fortgagor shall pa~- to the Mortga~;ee, es trustee, sn~ amount necessarv to meke up ' I the de~iciene~-. Such pa~•n?ent shall 1~ made within thirt~ (30) da~~s aiter written notice froin the biortgagee ; f atating the amount of the deficienc~, which notice may be given by mail. If et any t?:rne the Mortgsgor ahall i i {0«2~4 ~A~~2~.46 ' ..3,~^A~`.~+'Sb ' ` ~ . 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