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Home My WebLink About2427 . . • . , The Mortgagor hereby oovensnts with the I~iortgsgee, thst 6e is indeteafubly seized oi said land in iee aimple or auch other estatet ~f any ss is stated herein; thet he Laa tull power snd lawtul rig6t to oonvev the s~me aa storesaid; that the lsnd ~s iree ~rom all encumbrances ezcept e~a herein otherwise recited; that asid~Viortgagor will make such further aseurenoes to prove the aforessid title Lo se?id lsnd in said Mortgagee ss auy be re+u~on- ab~yreq uired, and th4t ssid Mortgagor does hereby i~ aursnt the titla to said lsad, and every part thereoi~ and will defend the same againat the lawiul cl~ima oi persona whomsoever. PAOVIDAD ALWAYB LLSt 1~ ~19 I~TOT~/1gOr SbtU p~y UIILO ~0 MOr~B$N tibA` C8T~81II pI~0ID1880iy QOt!!, O~ which the following is ~ subetsntial ooPy, to witi: = 24,700.00 Fort Pierce, , Florida. dune 27, ,1973 . FoR Ystv~ Rscstvan~ the undersi~ned promiee(a) to p~y to J. T. STEFIART MOR'I'GAGE CC~'ANY, INC. , s oorporation organi~ed aad e~ostin~ under t6e la~va of Florida ~ or or~er, the principal sum ot ~Ty gppg TgpUSAND SFNII~ HUNDRID AND NO/lOQ---------------------~~ 2k,700.00 with interest from date st the rate of ~ven P~ ~?tum ( 7 per aanum on the unpaid bslance unW paid. The said principal an~ interest shall be pnyable at the office oi J. T. STEWART MORTGAGE CONIPANY, INC . 100 Miracle Mile . in ~ i.oral Gables, Florida ~ or at such other plsoe aa the hdder msy deaignate in writins delivered or aoailed to the dtntor, in monthly installmenta of ~e hundred Si~ty-Four and, 5Q/l~~ (i 16~ . 50 commenciag on the first dsy of p~st , ?3 , aad oontamung on t~6e firat day of each month thereatter until thia note ia fully psid~ except that, if not eooner paid, the Snal psyment of princapal and interest ahall be due and paysble on the firat day oi J 2003 ~ • pri ~s reserved to prepsy at an~ time, witLout premi~un or fee the ~tire indebtednees or any part thereof notlees than the amount of one ~tallment, or one hundred dol~ars (i100.00), whichever is leas. If any deficiency in the paym ent of any installment under .this note ia not made gcwd prior to the due date of the next such inatallment, the entire principal sum and acerued intereat shall at once beoome due and ~ay- able without notice at the optaon of the holder of thia note. Failure to exercise thia option sLall not oomstatute s w aiver of the right to eaercise the same in the event of any subsequent default. In the event of detault in the ~ payment of this note, and if the same is collected by an attorney st ls~v, the undersigned hereby agree(s) to ; pay all cwsta of collection, including a reasonable attorney's fee. ' This note is secured bp mortgage of even date executed by~he underaigned on oertain pmperty described therein and representa money actually used for the ac;quisition of eaid property or the improvements tbereon. ~ ; Presentment, pmteat~ and noticP, are hereby waived. ~ . . • . ~ , ~ . - . ~ : /s w n e r ~ _ . / s/ Martha M. tisml a~ . ~~LJ ~ [ss~?~,] ; ~ And shall duly, promptly, and fully perform, discharge, eaecute, eiiect~ complete, and comply with and abide ' by each and every the sWpulations, agreements, conditions~ and covenants of said promissory note aud of this ~ mo*tgage, then this mortgage and the estste hereby created shall oesse aad be null and void. ~ The Mortgagor further covenants as foAows: ; ~ 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is resecved to PrepaY at any time, ! ~ without premium or fee, the entire indebtednesa or sny part thereof not less than the amount of one installment, or ~ one hundred dollars (i100.00), whichever is less. ; ~ 2. In order more fullv to protect the securit~ of this mortgage, the ~Tortgagor, together vvith, and in • addition to, the monthl~- pa~-nients under the tenns of the note secumd hereb~•, on the first dar o[ each month ' ~ until the said note is fu~l~- paid, a111 pa~- to the ~tortgugee, as trustee, (under the terms of th~s trust ss herein- ~ ~ a[ter stateci) the folloKing sums: (a) A sum equal to the ground rents, if any, next due, plus the premiums that ~rill next beoome due sad payable ~ on policies of fire and other hasard insurance covering the mortgaged property, plus taxes and assessments ~ next due on the mortgaged property (sll sa estimated by the Mortgagee and of which t6e Mortgagor is i notified) less all sums already paid therefor divided by the number of months to elap~e before one month ~ prior to the date when such ground rents, premiums, taxes, and assessments will become delinquent, , ~ such sums to be held by Mortgageeintrnsttopsysaidgroundrents,premiums,ta~es~sndspecialass~ments. : (b) The aggregate of the amounta payable pursuant to subparagraph (a) and those payable on the note secured ~ ~ hereb , ahall be paid in a single payment each month, to be applied to the following itema ia the order ~ ~ (I) ground rents, taxea, as~e,ssments, fire, and other hasard insuraace premiuma; rv>~ (II) interest on the note secured hereby; and ~ ' (III) amortisstion of the principal of said note. Any deficiency in the amount o! suchaggregate monthlp psyment sball, unless mede good by the Mortr ' ~ gagor prior to the due date of the next such payment, const~tute an event of default under this mortgage. ~ ~ At Mortgagee's option, Mortgagor will pa~ a"late charge" not exceeding four per centum (4%) oi any mstall- ~ • i •L_ J.... .1..~_ •1...~....t s.. •1... 1...+d " F ~ meni wneu paid more than Sft~ei~fi ~Zi7} uay~ ni~i 4llC l1UG ua~c ~ucawa w w:ci wc c:.~..o cn~c:,~c ,u:v...... - handling delinquent ~ayments, but such "late charge" shall not be payable out of the proceeds of any sale S made to satisfy the indebtedness secured hereby, unless such proceeds are sufficient to discharge the entire ~ 'x~ indebtedness and ail proper costs and expenses secured thereby. G~.? ~ 3. If the total of the pa~•ments made b~• the ~lortgagor under (a) of~ara{;raph 2 preceding shall exceed the amount of pa}•ments actuall~- made b~ t~e ;~~iortgagee, as trustee, for ground rents, taxes and. as.sessments, ~ ~ and insurance premiums, ag the case ma~~be, such excess shall be credited on subsequent pa~ments to be made C- ; ~ bc the ~iongagor for such iteu~s or, at :~iortga~;ee's option, as ttvstee, shall be rnfunded to ~iortgsgor. If, ~ ~ however, such mont}?l~ pa~-ments shall not bp suffi~ient to pa~' such items when the sanie shall become due ~ ancl pa~•able, then tlie :~iortgagor shall pa~ to the Mortga{;ee, as trustee, an~ amount necessar~ to make up ~ the de~icienc~•. Such pa~•ment shall be nzade within thirt}~ (30) da~'s after written notice from t e Mortgagee ~ stating the amount of the deficiency, which notice may be given by mail. If ac any tame the Mortgagor ahall Y= ~ r; ~ . . . . _ ~ - f ~ - - ~ ~ 4ra c r_. ~_x ~ _ . _ «.w._ ~v~~,