HomeMy WebLinkAbout1383 The Mortgagor hereby oovenanta with the Mortgegee~ th~t he is indefeueibly eeiaed of said Isnd ia fee
eut~ple or such oL6er estatet J ~ny es ie acated herein; that he h~a !ull power and lawtul right to oonvev the a~ume
aa sforeeaid; that the land ~a iree ~rom ~ll encumbrance~ e~ccept as herein othecwise recited; thst ssidlvlortgag~oc
~vill make such further seeunaoee to prove tLe aforeeaid titde t~o said land ia said Mortgsgee as m~y be re~son
a~nd will def ~~Ldh ~t
said Mortgagor doee hereby full warr~n~ the dWe to a~id land, snd eoe~y parc c~ersoi~ s--
ey
againaL the lawf~l claims of pereona ~vhomsoeve~r.
PROVIDED AL~Y'ATO ~At It ~8 MOi~~t1? 8LiU 11IILp ~ MOt1~fg90 L~~ OOTL~jp pl+plnjespiyi IIpL~~ oi -
Rhich the follovPing ia s subetant,iwl cnPy, to wit:
= 19 , 500 . 00 Stuart .
August 30 ~ la 73•
Fou Ver.vs Rscsn?sn~ tbe undere~nod promiee(s) to pqy? to
SOUTHERN MORTGAGE ASSOCIATES, INC., authorized to do business in the
State of F~.orida ~
, s oorpo~rstian or~anised and eaa~lic~ nader the
Iswa of the State of Arkansa~or order~ t6e prinaipat eum of NINETEEN THOUSAND FIVE
• HUNDRED AND NO/100 Dollara~ (=19 , 500. 00 with intee~eet from d~tte ut '
the rste of giqht_ &~ne-half 5%~. Per aanum on t~ unpaid halanoe until paid. ~
T~ ~ P~pPV ~1 ~ P~Y~ aL the o~Oe of SOUTHERN MORTGAGE ASSOCIATES, INC. , ~
1999 S. i:. 27th Avcnue
~ Miami , Florida , or st ench other p~a~oe ae tb~e hdder msy d~,ste in writins
delivered or mailed to the debtor, ia monthly installmeate ofOne Hundred. Forty Nine &
(i 149. 94 commencing on the firet dsy of October 94~100 ~ 19 73, au~i oontinuiog aa the
Srat day oi esch month t~ereatter untii thia note ia iul~y pi?id, e:aept that, if no~ soonerpu
d, the fiaal payment =
of principal and interest ehall be due and payable on the Srst d~y of Aug us t, 2 0 0 3 . ;
Privilege is reeerved to prepsy st sn~ time, without premium or fee tLs entire indebtedness or any part
thereof nut lees than tLe smount oi one ~nstellment~ or one Lundred dol~us (i100.00), wLichever is lees,
If any deficiency i.n t6e payment of any inatallment under tbia note is not made good prior to the due d~?te ~
of the nest auch inat~limen~, the entire rincipsl sum and accrued interest shall st onoe beooaee due aud ~ay- ;
a waiver of the righti to ezercise the eame in the event of sny aubeequent def
~ult. In e e~ent of detault ia the
psyment of tLia note, snd if the ssme is ooltected by an attorne~ st Lw, the tmdarsigned hareby agibe(e) to
psy all coats of oollectioq including s reaeonable attosney'e fee.
This note ia secured by mortgage of even date ezecuted by the undereigued oa oezt~ia properEy deecribed
the~eia and repreeents money actually ueed for the aoquiaitioa oi said pmperty or the improvementa thereon.
Y1~8eII~IYtBIIL~ ~i1~048B1r~ ~ii!'1 uu~iu"s si~'s a1'i'vaa~;~ w~rii3'~ia.
. ,9EAI,] 2
EDWA T. K ~
~ - [~•l
DO THY K ,
[ss~?L~
[~l i
_ t
- - - - -
_ - _
And ahall dulY, P~P~Y~ snd fully perform, di~charge, execute, effect, complete, and complq with and sbide -
bq each snd every the stipulation$, agncementa, aonditiona, aad oovenants of said promiseory nate and a# this
mortgage, th~ this mortgsge sad the eetate hereby cl+eated shall ceaee and be null ead void. -
' Tbe Mortpgor fnrther covensata aa followe: ~
s
1. That he will pay the indebtednees, as hereinbefore provided. Privilege ia reeP.rved to prepay st any time, :
; without prem~ium or fee, the eatire indebtednees or any part tLereof not lees thau the amount of one inatallmeat, or '
one hundred dollars (i100.00), ~vhichever is tees.
; 2. In order more fully to protect the security of this mortgage, the Mortgagor, together with and in
t addition to, the monthly payments under the tern~s of the note secured hereby, on the first day of eac~ month '
~ until the said note is fu~ly paid, will pay to the Mortgagee, as ~rustee, (under the terms of this truat as herein- ~
s after atated) the following suma: ~
i (s) A sum ec~ual to the gmund renta, if any, nert due, plus the pnemiuma that will ne:t beoome due and payable `
; on poleciee of fire sad other hasard ineurauce oovering the mortBeBed P~'oP~Y, Plus taxea 8ad aeeesamenta ;
~ next due oa the mortgaged property (all se estimsted by the Mortgsgee aad of which the Mortgagor is '
; notified) leee all e~ms alreai~r paid therefor divided by the number of montha to ela~pee before one month `
~ prior to the date when +euch ground r~te, premiums, taxes, sud se~ament,e will became delinquent,
y such eums to be held by Mortgageeintrusttopayeaidgroundr~ts,Premiums,tasea,snd~ecialsa~emente.
~ (b) The aggregate of the amounte paqsble punausat t,o aubparagraph (s) aad thoeepay~
le on the note eecured ~
here~y, ehall be paid in s single PaYme~t each montb~ to be applied to the f~owing if,ems ia the order ;
' stated
_ _ t
- (n 6~IId ~e~ta, fire, sud other^hasard insuranoe premiuma;--- - - .
(In intei+est o~n the nobe eecured hereby; and ~
~
(IIn amorti:stioa of the principal af eaid note.
Any deficiency in tbe atnount of suchsggregate monthly ~syment shall, unlese msde good by the Mort- ~
~ gagor pnor to the due date of tLe next such payment~ conat~tute an event of defsult under tLia mort~gage. ~
; At Mortgagce's option, Mortgag~or will pay a"late chsrge" not exoeeding four per centum (4~Jo) of any ~'nstall- `
~ ment when psid more tLsn fift,een (15) da~qs aEter Lhe due dste thereof to oover the ext,ra e~cpense involved in -
= handling delinquent paqtnent~, but such 'late charge" s6ell not be psqable out of the proceeda of any asle
Y made to satisfy the mdebtkdneas eecure~ hereby~ unlesa such proceede are su~cient to dischsrge the entin
~ indebtedneas aad all proper oosts snd expenses secured thereby.
3 3. If the total of the payments made bp the ivlortgagor under (a) of paragraph 2 preceding shall exceed ~
~ the amount of payments actually made by the Mortgagee, as trustee, for ground rents, taxea and aaseaamenta, j
~ and insurance premiums, as the case mny
be, such excess shall be credited on aubeequent pay-ments W be made ;
~ bq the Mortgsgor for such items or, at Mortgagee's option, as trustee~ ahall be refunded to Mortgagor. If,
~ however~ auch monthly~pay~ments shell not be sufficient to pay such items when the same shall become due ;
and ps •able, then the Mortgagor shaD pay to the Mortgagee, sa trustee, any amount necesaary to moke up
che de~ciency. Such pavment sl~all be made within thirty (30) d~,va sfter wntten notice from the Mor~gagee
f eteting t6e amount of the deficiency, which notice msy be giD R bp mail. If st any time the Mortgag~ur shall
' ' BVYR ~~V ~~W ~3~j
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