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Home My WebLink About1657 . . . ; i , ; The Mortgagor hereby covenants with the Mortgagee, thtt he is indetea~ibl aeized oi aeid land in fee } 1 E simple or such other eatste~ ti sny ss ia ateted herein; that he Lae ~uU power and Is ul rigbt to vonvev the a~me aa sforessid; thst the lend ss free ~t+~m all encumbraaces except as herein othervviee recited; that said~iortgagor ~ will mske such furiher aesuranoee to pm?ve tLe Joreeaid title to said Isnd in ssid Mortgegee as msy be re~son- ; sbl uired, snd t~?at ~?id Mortgsgor does hereby full wurant the title to si?id lsnd, and every put thereoi~ ~ y s ?i an ' defend the sune againat the lswful cle?ima of all peraona whomsosver, ! Paovtnsn`-~Y.w~YS that if the 14iortgagor ahaU pay unto fbe Mortgagee Lhnt certain pramiseory note, oi - ` which the following is a aubet~antiel copy, to wit: ~ = 31,000.00 Fort Pierce , F1oricL. June 15 ~ 19 73 . FOR VALIIS RsCSIYED~ the undera~ed pmmiee(e) to pay to J. T. STF~UlRT HUBTGAGB OOI~ANY ~ INC . , s oorEwrstion organised aad exiating under the lawa of State of Florida ~ p~pp~ ~m of TH~TY-0NB T~OUSAND AND NO/100--=-•----------------- Dollsra (i31,000.00 with interest from date at the rate of s~p~ pet oentum ( 7°Ja) per aanum oa t6e unpaid Datance until paid. The said priacipal and inter~t e~hal{ be puysble at tbe o~ oE ~ J. T. STBWl1RT l~OBTGAGB 00l~ANY, INC., Suite 300 - 100 Miracle Mile - . _ _ _ ~ in Coral Gables, Florida , or at such ot6er plaoE as the holder may desi~ate in writing delivend or mailed to tbe debtor, in monthly installmeata d~~adred Six aad 46/100----- ~ ~ (i 206.46 eommencing on the first day of August 1 , 1973 , aad oontinuing on the 3 first dsy of each month thereaf ter unLil this note is fully paid, euoept that, ii not eooner pud, the final payment of principal and interest shall be due and payable on the 6rat dsy of Julq 1 , 2003 . Priv~'1ege ~s reaerved to prepap et any time~ without premium or fee the enLire indebtednees or any part thereof not ]ees than the amount of one usstallment, or one hundred doliara (=100.00), whichever ia lesa. If any deficiency in the pa~m ent of any inatallment under thia note ia not made good prior to the due date of the next such inatallment, the entire principal sum and accrued intereat shall at once become due and ~ay- able without notice at the option of the Lolder of Wiis note. Failure to eaercise this option shall not const~tute a waiver of t~?e right b easrcise the same in the event of any subsequent defaul~. In the event oi defeult in the payment of this note, and if the same ie collected by an attorney st lsw, tbe undersigned hereby agree(e) to pay all oosta of collection, including s ressonable attorney's fee. This note is secured by mort~age of even date executed by the nndersigned on certain property described therein and representa money actuaUy used for the aoquisition of eaid property or the impmvemente thereon. ~ Presentment~ protest~ and notice are hereby waived. a 1s[ Joaeph Francis ~ow~an Joseph I~aacis Bowman - 1r~1_2~l8ttha H. Borrma~t [ssAt,] Martha H. Bo~an [sa~.l [s~] _ Md shall duly, pmmptly, snd fully perform, discharge, eacecute, eHect, oomplete, and oomply with and abide i by each and every the stipulations, agr~ements, conditions, and oovenants of said promissory note and of this ; , mo*tgage, then this mortgage and the esfste her~by created shail cesse and be nuU and void. ~ ~ The Mortgagor further oovenaata as follows: ~ 1. That he wilt pay the indebtedness, as hereinbefore pmvided. Privilege is reserved to prepay at any time, ~ without premium or fee, the entire indebtedness or any gart thereof not lesa than the amount of one installment, or ! one hundred dollars (i100.00), wlrichever is less. F 2. In orcier more full~- to protect 1he securit~- of this ~nortga~e, the ~tortga~;or, together with, and in ~ a<t~tition to, the monthh- pa~-rnents ander ihe ter~ns of ihe note serured h~reb~, on the first da~- of each month ! uatil !he said note is fu~l~ pnid, W ill pa~- to the ~-iortgagee, as trustee, (under the terms o( this trust as herein- ~ a[tcr stated) the (ollowing sums: _ ' . ! (e) A sum equal to the 6round renta, if any, next due, plus the premiums that wiil neat become due and pays?ble ~ on polici~ of fire and other haasrd insarance ooveringthe mortgaged propertyi plus taxes snd essessments . ; next dne on the mortgaged property (all sa estimated by the ~+iortgagee snd of which the Mortgagor is ; notiSed) less all sums slready pa?d therefor divided by the number of months to elapse before one month prior to the date when such gtound rente, premiutns, taxes, and sssessments will become delinquent, ' such eums to be held by Morc~eemtrusttopaysaidgroundren~s,premiums,taxes,andspecialass~sments. ~ (b) The eggregate of the amounts pa able pursuant to subparagraph (a) and those payable on t6e note secured ' hereby, ahall be paid in a sing~e PaYment each m~t~h, to be applied to the following ibems in the order stated - (I) Bround renta, ta~ces, asses~mente, fire, and other hasard insurance premiaws; I - (II) interest on the note secured hereby; sad (III) aonartisation of the prineipal of said x~ote.. ` Any defici'ency in the amount of suchaggregate monthly payment shsll, unless made good by the Mort- } gagor prior to the due dste of the next such payment, constitute an event of default under this mortgage, 5 At I~iortgagee's option, Mortgegor will pey a"Iate cliarge" not exceeding four per centum (4%) of an~ instell- ° ment when paid more than Sfteen (15) dsys after the due date thereof to cover the extra expense invol~ ed in ~ = handling delinquent ~ey menta, ~ut such "late cdarge°` si~aii noi oe payabie vui, ui iuc Nn,~;eed3 of any sale made to satisfy the mdebtedness secured hereby, unless such proceeds are auflicient to d~scharge the entire ; indebtedness and all pmper c~sts and ea~?enses secured thereby. ^ 3. 1f 1he total of tlie pa~•inents made b~- the 3fortgagor under (a) of parag,raph 2 preceding sha11 eaceed ' ° the a~t~ount of pat-ilients actuell~- macle b~ t~~e 1~lortgagee, as trustee, for ground rents, ta~ces and a4sc~ssments, ~ and insurance premiun?s, as the case ma~~be, such e~cess shall be credited on subseyuent pa~-ments to be made > b}- the ~lortgagot for such iten~s or, at~~iortgagee's option, as trustee, shail be refunded to :~fortgegor. If~ ~ however, such monthl~ pa~-ments shall not be sufficient to pa~- such items when !he same shall become due and pa~•able, then the ~lortgagor shnU pa~- to the `iortgagee, as trustee, an~ amount necessarv to make up - 'the deficien~~-. Sucl? pa~-ment sliall be maJe within thirt~ (30) da~s atter v~ritten notice from the Mortgagee _ stating the amount of the deficiencj, which not~ce may be given by mail. If at any time the Mortgagor ahail ~ ~~ox 215 1~~ ~ ~ t _ - - - - - ~K._ _ _