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Home My WebLink About1114 . ~ , The Mortgagor hereby oovene?nte with the Mortgagee~ that ha is utdefeasibly seized oi eaid land in fee eimple or such other estste; d aqy as is ststed herein; thet he hsa tult power and lawiul right to oonvev the anme ss Jaresaid; t~?et the le?nd ~s iree ~mm all encumbrances e~ccept as herein otherwise recited; that said~Viortgagor will make such furt6er eseursnoes to prove the aforesaid titl~ to ssid land ia sRid Mortgagee sa may be reASOn- sblyreq uiced, snd thst said Mortgsgor does hereby fully warr~nt the tiWe to eaid land, and every part thereot~ and will defend the same sgaiast the lawful clsima oi all persone whomsoever. Paov~usn ALweYe that if the 14iortgeg~r ahall psy unto the Mortgagee Lhst certain promiseory note~ oi w?hich the following ia a subatantial oops, to ~vit: = 22,000.00 Pbrt Pierce , Florids. 7?uytist 8 ,19 73 . FoR Vw~.vs Rsca[vsn, the undereigned promiee(e) to pay to J. T. STSf~1RT I+~RTGi1GB 00l~D.'71t17C~ ZNC. ~ ~ ~ s oorp~rstioa orgaaised and e~tisting under the la?ws of the state og Florida , or order, the principsl sum d ~1TY ~ T'~lOLJS~ID AND NO/100------------------------------ ~O~ 22,000.00 with interest from date st the rate of 7 3/4 P~' centum G 3/4 Per annuw on the unpaid balance until paid. The said piincipal and intereat ahall be payable at the office of J. T. Stewart Mo~ct4age O~a~2?nY. Zne. Suite 300 - 100 !liracle Mile in O~ral Gables. Florida , or at such other plaoe sa the holder may designate in writ':ng delivered or mailed to the debtor~ in monthly inatallments of pNg p~ gZFTY SSV~1 71~ID 74/lODollare (=157.74 commencing on the firat day of September , 1973 , sud oontinuing on the Srst day of each month thereafter until thia note is fully paid, eacept tLat, if not eooner paid, the finsl papment of princ?pal and intereat ahall be due and payable on the firat dey of ~itqust 2003 , . ~ privileQe ia reserved to prepay at any time, without premium or fee the entire indebtedness or any part thereof notlees than the amount of one u~atallment, or one hundred dol~ara (i100.00), whichever is less. If any deficiency in tLe paym ent of any installment under this note is not made good prior to the due date of the next such installment, the entire principal sum snd accrued interest shall at once become due and Fay- able without notice at the optaon of the holder of Lhia note. Failure to eaerciee this opLion ahall not oonatitute a waiver of the right to axercise the same in tLe event of any subsequent default. In the event of default in the payment of tLis note, and if tLe ssme is oollected by an attorney at lsw, the undersigned hereby agree(e) to psy all coste of collection, including a reasonable attorney's fee.~ This note ia secured by mortgage of even date executed by the undersi,gned on certain property described tyerein and representa money actually nsed for the acquisition oi esid pmperty or t~e improvemente thereon. Presentment, proteat. and noticp? are hereby waived. _ , ~ ~ ~ [sg~t,] ~ Geo e Aeruian ters z''~. c ~ ~c.E. [sg~?L] ~dith G. Walters - [~7 I . { ~ ~ ' ~ ~ And ahall duly, promptly, and fully perform, discharge, execute, eSect, complete, and oomply with and abide ~ by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this ~ mo*tgage, then this mortgage and the estate hereby cr~ated ahall cease and be null and void. ~ The Mortgagor further oovenants as follows: 1. Thst he will pay the indebtedness, as hereinbefore pmvided. Privilege ia reserved to prepay at any time, withont premium or fee, the entire indebtedness or any part thereof not less than the amount of one installment, or one hundred dollars (i100.00), whichever is less. 2. In order more full~ to protect the security of this mortgage, the Mottgagor, together with, and in addit.ion to, the mont}ilv pa~ ments under the tenns of the note secured hereby, on the first day of eac}? ~nontl~ until the said note is [u71~ paid, will pa~ to the :~iort~agee, as trustee, (under the terms o[ this trust as herein- aftcr stated) the following sums: (a) A sum equal to the ground rents, if any, next due, plua the premiums that will next become due and payable on policies of. fire and other haaard insurance covering the mortgaged property, plus taaes and assessments next due on the mortgaged property (all ss estim~?ted by the Mortgagee and of which the Mortgagor is notified) less all sdms already paid therefor divided by the' number of months to elapse before one month prior to the date when such grQUnd renta, premiums, ta~ces, and assessmenta will become delinquent, such sums to be held by Mortgageeinttvsttopaysaidgroundrents,premiums,ts~ces~andapecialassessments. (b) T6e aggcegate of the amounta psyable pu~tant to subparagraph (a) and those payable on the note secured hereby, shall be paid in a single payment each mont6, to be applied to the following items in the order stated (I) ground renta, ta~ces, assessmente, fire, and other hazard insurance premiums; ~ (II) interest on the note secured hereby; and ~ (III) amortisation of the principal of eaid note. ~ ~ Any deficiency in the amount of anchaggregate monthlp payment ahall, unleas made good by the Mort- ~ gagor prior to the due date ot the next such payment, constitute an event of default under this mortgage. At Mortgagee's option, Mortgagor will pay a"lste chsrge" not exceeding four per centum (4%) ot any install- ment when paid more thsn fifteen (15) days after the due date thereof to cover the extra expense involved in ~ handling delinquent ~ayments~ but such "lete charge" ahall not be payable out of the proceeds ot any sale ~ made to satisfy the mdebt,edness secured hereby, unless such proceeds are aufficient to d~scharge the entire ~ indebtedness and aU proper costs and expenses secured thereby. ~ 3. If the total of the pa~ments made b~- the b'Iortga~;or under (a} of paragraph 2 preceding shall exceed the amount of ps~-ments actuall~ made b~- t~e A4ortgagee, as trustee, for ground rents, ta~es and assessments, and insurance preniiums, as the case ma~ ~be, such excess shaU be credited on subsequent pa~ ments to be made b~• thc ~iortga~;or for such items or, at Mortgagee's option, as trustee, shall be refunded to Mortgegor. If, however, such u~ont}?1~ pa~'ments shall not be sufricient to pQ~ such items when the same shall become due _ and pa~able, then the Alortgagor shnll pa~ to the Mortgagee, as trustee, an~ amount necessarv to make up the de~iciene~. Such pa~~ment shall be macle within thirty (30) da}•s a(ter written notice from t}~e Mortgagee stating the amount of the deficienc~, which notice may be given by m$il~.~ I t y ti ortgagor ahall 600K ri:i. D w~ --a, = ~ ~ 1 k~; +s-c~ ~ ~ _'s~~.'.~4i~ . . . . ~ i~