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Home My WebLink About0289 The Mortgagor hereby oover,ants vcit6 the Mortgager, that he ia indefeaaibly seised of said lond In fee simple or such other estate~ d uny aa is etated herein; that he hes tull power and lawtul rig6t to oonvev the siuue aa sfaressid; that t6e te?ud ia free from all encumbraaces eacept as hereia otherwise recited; thst saidll~tartgagor r will make sucb further assuraucee to prova tha sfaresaid ~iWe Lo suid land in ssid Mortgagee ss msy be reaeon- ablyreq uired, and that said Mortgago~ doee hereby fully wsrrsnt the title to said laud, and evety part thereot~ eind wiJl defend the Same against the lawful claime oi all pereons whomgoever, PROYIDED ALWA•YS that if the hioctgagor shall pay unto the Mortgagee thet certain promiseory note, oi ~rhich the followiag is s aubat~sntial oops, to wit: i 24, 000. 00 Fort Pierce , F1orid~, riay 31 , ia 73. FOR VALD~ R=CSIYBD~ the undersigued promiee(e) to pay to J, T. STEWART 1~10RTGAGE CO?~1PANY ~ INC., SUITE 300, 100 I?IIRACLE MILE, CORAL GABLES, FLORIDA lews of . s oorporstion oegmi~ed end e~oatin~ uader the Florida , or order, the principal aum o~~1ENTY FOUR THOUSAND AND NO/100--------------------------- (i 2~t OOO.oo ~th iaterest froaa date at the rate of SEVEN per centum ( 7~Jo) pei~ ennum on the unpatd balanoe untilpeud. The said priacipal snd interest shall be payable at the office of J. T. STEWART MORTGAGE COMPANY , INC., 2801 South 4th Street, Fort Pierce, Florida ~ , or at such other plaoe as the hdder mi?y designa ~ delivered or mailed to the debtor, in monthly installmenta of ONE HUNDRED FIFTY NINE (t 15 9•$ 4 commencing on the firat day of J u ly , 19 7 3, and oontinuing on the first day oi eacL month thereafter nntil this note ia fully paid, except thst, if not eoonerp~ud, tha final payment of principal and interest shall be due and paysble on the first dsy of JUNE, 2003 , , Priv~'1~e is reserved to prepay at an, time~ without premium or fee, the entire iadebtedneas or suy part tliereof notlesa thsn the amounL of one u~stallment, or one hundred dollara (t100.00), whichever ia lees. If any deficiency in the paym ent of any instaliment under this note is not made good prior to the due date of the next such installment, the entire principal sum and accrued intereat ahall at once become due and ~ay- able without notice at tLe option of the holder of t~his note. Failure to exeir.ise this option shsll not oonat~tute + a waiver of the right to eaercise the same in the event of any eubaequent defeult. In tbe event of defsult in the ~ payment o! thia note, and ii the same is collected by an sttorney at law, the wndersigned hereby sgree(s) to t pay all costs of collection~ including a reasonsble attorney's fee. This note ia secured by mortgag_e of even date euecuted by the undersigned on oertsin pmperty deecribed therein and represents money actually used for the acquisition of eaid pmparty or the impmvemente tbereon. Presentment~ proteat, and notice sre hereby waived. [ssnz.l ; - ~ [se~,~ [s~.] _ And shall duly, promptly, and fully perform, discharge, eaecute, effect, complete, aad comply with and abide by each and every the stipulations, agreements, conditions, and covenants of said promiasory note and of thie mo~tgage, then this mortgage and the estate hereby created shall cesae aad be null and void. The Mortgagor further covenants as followa: 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved t,o prepay at say time, without premium or fe~, the entire indebtednese or any part thereof not leas than the amount of one installment, or one hundred dollars (i100.00), whichever is lesa. i 2. In arder more fulh- to protect the securit~~ of this mortga~;e, the 141ortgagor, together with, snd in addition to, th~~ ~nonthl~- pa~-menta under the terms of the note secureci hereby, on the first da~- oteach month until th~> sc~id note~ is [u~l~- paid, Hill pa~• to the Vlortgagee, as trustee, (under the terms of this trust ag herein- ; aft~•r stated? the following sums: ~ (a) A sum equai to the ground rents, if any, neat due, plus the premiums that will next become due and payable ; on policies of Sre and other hazard inaurance oovering the mortgaged property, plua ta~ces and ss~essments ! next due on the mortgsged property (sll aa esLimated by the Mortgagee and of which the Mortgagor i.a ` notified) less all sums already paid therefor divided by the number of months to elapsc before one month _ prior to the date when such ground rents, premiums, ta~ces, and ass~sments wili become delinquent, ' snc6 suma to be 6eld by Mortgageeintrusttopaysaidgroundrents,premiums,taxes,andspecialassessmenLs. E (b) The aggregate of the amounts payable purauant to subparagraph (a) and those payable on the note secured ~ s~ y, ahaU be paid in a single payment each month, to be applied to the following itema in the order ted: ` (I) ground rents, taxes, essessmente, fire, and other hasard insurance premiuma; " (II) interest on the note secured hereby; and i (III) amortisation of the principal of said note. ' Any deficiency in the amount of sucha~g regate monthly payment ahall, unlesa made good by the Mort- ~'J ~ gagor pnor to the due dete o[ the next such pa•ment, const~tute an event of default under this mortgage. CO = ~t ~lortgagee's option, Mortgagor will pay a"late charge" not exceeding four per centum (4°Jo) of any install- ~j , ment when paid mare thnn Sfteen (15) days after the due date thereof to cover the extra expeage involved in ; hand;ing dc~linquent payments, but such "late charge" shall not be payable out of the proceeda ot any sale ` - made to satisfy the ~ndebtedness secured hereby, unless such proceeds are aufficient to d~acharge the entire ; indebtedness and alf proper costs and expenses secured thereby. ~ ~ If thc~ total of the pa~-ments made b~- the Mortgagor w~der (a) of paragraph 2 preceding shall exceed ; tl~~• ~ii~~ount of pa~•ments actuali~- made b~- t~e ?4lortgagee, as trustee, for grounc! rents, laxes and assessments, f end insuran~c pre?niums, as tht~ ~ase ~na~ be, such excess st?sll be credited on subsequent pa~ments to be made ~ ? b~• tl~e ~fortgagor for such itei»s or, at ~iortgagee's option, as trustee, shall be refunded to ;liortgagor. If, ~ hoW~•~-er, sw•h inonthlt pa~-ments shall not be suffi~ient to pa~- such items when the sanie shall become due °m _ and pn~-~ble, tt~en the lfort~ugor shall par to tlie Mort~aKee, as trustee, an~ amount necessary to make up the defirien~~-_ ~uch pa~•ment shall be made within thirt~• (30) da~-s after wtitten notice trom the Mortgagee stating the emount of the deficienc.~, which notice may be gi~en by msil. If Bt any tirno the Mortgagor shall a r~ ~ ~I _ 4 ~ _ _ - . ~~--y.~~~