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TLs Mortgagor hereb~ ooveaaats wit6 t6e Mortgageh Wat he i~ indefaaibl~ seiaed oi eaid land in fes
~impb ar such otbec est~tet ~i s~ as i~ stated herein; Lhst he h~s !uU pawer and lawiul rig6L to oonve~ the sume
as donwid; t6st tbe land ~s ires ~rum aU eacumbranoes exoept as Lerein otberwise recited; tbat sud~l~iortgagor
wiU malca wch furtber wuranoe~ to pro~e t~hs doresaid tit~e Lo aid land in eaid Mortgagee as au~ be reaeon-
requie+ed, aad thaL said Mortgigor doe~ herebj t warraat the dt3s b said laad~ aad e~er~ par~ therooi,
~will detend tLe saaie agsinst the bwiul claims of~ pereons whomsoever. :
P=OYIDED ALw~trs th~t it the bior~gagor e~tU pa~ natp fbs Mortgag~es tbst certain promiseor~ note. oi ;
~vLicL t6s folb~in~g is a wb~t~?ntial o~PJ, to wit: (
i14,000.00 Port Pierce ±
Auguat 24 ,18 73 • j
Foa V~.vs R~cnvm, tbs undeeei~ued W'omise(s) to P~?.T ~ ~
J. t. S?aWA~? 1~B1~GAG8 OQ~A1i7t, INC. t
, s oorporatian a~anised aad raustin6 under the #
lsws cf . th~ 8tata of Plorids . a~ ader. the Pri~iPv sum of Fq~ =f~l1SAND ~
AND 110/100 - - - - - - - - - - - - - - - Bollara (i~4,000.00 witb interest fe+om dste st ~
t6e e~ate af 7 3/4 ceatum (7 3/~0) Per aanwn on the unpaid balance until peid. ~
1be esid prin~ipal aad inta+eeR e~ll be p~ysble a?t the oAioe of
J. S~SfiAQT M0~1~GAG8 CQ~/1~1Y, ~C. .
ia Coral Cablas, Flo~ da ,-or ~t aneh otber ~oe as tbe haider may dea~onte in writin6 ~
ddioered oc ~iled to tLe debtor, in mmthly installmenta af~iB IDINDQBD AND 38/100 Ddlsts ~
(i 100.38 aommeneina m the firet day oE October , 19 73 , aad oontinuin~ oa t6e ~
fuat d~~ of e~ mont6 tber~eatter unta7 tbis note is fnliY Paid. e~cept tL~. if noL sooner paid, the final paymeat
of prinaipal aad interest shall be due aad payable on tLe SrsL daj af Septe~ber 2003 . ~
' is reserved t~o PrePa7 at an~ time~ ~vithout premium ar fee, the e:ntire iadebtedness or any Part
thereof notlees t6an tbe amount of one imstallmeat, or one hundred dollars (i100.00), ~vhichever ia lees. ~
If sny de6aea~ in the payment of any inatsllment under thi~ note ia not made good prior to tha due dste
of the nest sn~h installment, the entire prin~;ipal sum and accrued int~eresti ehall at onoe beoome due sad ~sy- ~
able withont n~tioe at the optiun of tbe Lolder oi this not,e. Failure to eaerase tLis optioa ehaU not oonatatute
s~vai~e~r of the right to e=erciee the eame in tL~e event of aay subaequent defa~il~. In the event of defsult in t6e ~
P~7ment of this note, and if tha same is collected b~ aa sttorns~ at Lw~ tbe nndersi~oed hecabY s8~(s~ ~
Psy all aosts of oollection, including a reasonab~e sttorney's fee. .
1'6ia note is eecured by a~~~e of evea date ezecnted b~ tbe nnde~ogned on oer4in property described =
~herein and regreee,uta money ac y used for the aoquisitaon of said propert~ or t~he improvementa thereon. ~
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Preeeacmenc, pmtest, and notice are hereby .oaived. i
Ls/ Douglas Lee t~ioodard [~y] ~
t s! Ca 1 J. Ycodsrd ~ [sSnt,]
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[3BAL]
And shall dulY~ P~P~Y, ~~Y Pe*form, discharge, ezecute, e6ect, oomplete, aad oomply with aad abide ~
by eseh aud every the stapulations, sgreementa, oonditions, snd aovenaata of said ' note and of thia s
i mo*t6ege, tb~ thi~ mortga~e and the estste hereby ce~eated shsll oease aad be null void. ~
E lbee Mort~or further cavenants sa followe:
~ l. Thst be w~l psy the mdebtedness, ss herembe#ort provic~d. Priv~~lege is reserved to P~y ~~Y ~
withant a~ fee, tbe eatu+e indebtednees or any part tt?Preof.not leea t6an the amaunt of aae mstallment, ar ~
~ oae L~~ddlaza (i100.00), whichev~ is less.
~ 2. In order more full~ to protect the security of thig mortgage, the Mortgagor~ together with, and in ~
addition to, the monthl~ paFZnents under the terms of the note secured hereby ~ on the first day of each month }
until the said note is (ujl~ paid, vrill pa~ to the ~iortgagee, as trustee, {under the tern~s ot thig trust as hernin- ~
after stated) the follov~ing sums:
(s) A anm equal to the 6tnwud rents, if-aa7, aest due, P~ns the P~miuma that will ne:t beoome due and payable s
~ on pdicies af fire and otber bs~srd ineursuee ooverin6 ~ m~~B~ ProPe+~Y. P1us taxes and sa~sam~ts j
~ nr~ct due on tbe mort~~d Rrop~rtY Call sa e~imated b' the Moctgsgee ~nd of which the Mortgagor is =
noti5ed) less all enms paid theref'or divided by the nnmber af montha toe1apee before one month :
prior to the date whea~ ~und rent0. Pre~inm4 t~es. and a~se~ennenta will tieoome delinquent, :
sach euma to be hdd by Mott~s~ee~ntrnettopsysuid~+oundrnnta,premiums,teu~es,andspee.isls~nents. ;
(b) T6e a~te af the amounta pa purenaut to eubparagrsph (s) aad thaeepayable on the note secured 3
~ ahaU be psW ia s~yment ~ach manth, to be applied to the followins items ia the order ~
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(n ~+aund reata, ta~es. a~e~m~ts, aad other hasard insurance pr~miuma; ~
~ - (In mterest-an the note eecured hereby; and
~ (II~ amo~ti:stion d tbe principai d eaid note.
Any deSciency in the amount oi sucha~rega te monthly psyment shaU, wnlesa msde g~ood by the Mort-
gagor prar to the due date ot the .neat suchps
yment, co~4tute au eveut of default under this mortgage. f
At riortgagee's option, Mortgagor will pay s`7ate charge" not eaceeding four per centum (4%) of any install- z
ment when pa~d more t~an ~iteen (15) days atter the due date thereof to uover t6e eutrs e~cpense involved in . :
handling del~nquent ~aymente, but sac6 "late chsrge" shall not be psyable out of the proceeds o[ any ssle ;
~ made to sabsfy the indebtxdness secured hereby, unles~ suc6 pruceeds are au~c~ent to d~schuge the entire ~
indebtedneas aad all pruper ooata and expenses aecured thereby. i
~ 3. It the total of the pa~-ments made b~ the Mortgagor under (a) of paragraph 2 preceding shall eaceed
the amount of pe}-ments actusll~ made b~ t~e Mortgagee, as trustee, for ground rnnts, taxes and a4seasments,
and insurance premiums, as the case tna~~be, such exeese ahall be crndited on subsequent pa~-ments tu be made
~ b~ the ~to r(or such. items or, at l~iortgagee's option, as trustee, shall be rnfunded to Mortgagor. If,
~ hov~ever, suc inonthl~ ps~-rnents ahail not be sufficient to ps~ such items when the same shall become due
•nd ps -able, then the tiiortgagor shall pa~ to the tiiortgagee, as trustee, any .~mount neceesary to make up '
~ the de~ciencr. Such pa}-ment sliall be made within thirt~ (30) dava dter wnlten notice trom the l~iortgagee i
~ stating the amount of the de~ficieucy. whic}~ notice may be given by mail. If st any time the Mortgagor shall _ `
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