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Home My WebLink About0278 . The Mortgagor bereby covenants with the Mortgage~?, that he ia indefeasibly seized oi ssid land in fee simple or such other estste~ J sny eia ie etat~+d herein; that he hsa tull power and Iswiul right b oonvev the anme as sforesaid; thst the land ~a iree ~rom sll encumbrances except sa herein otherwise recited; that saidlvlortgagor - will make such further aeeuranoes to provo Lhe aforesaid title to said land in said Mortgsgee ae may be reRSOn- ablyrequired~ and thst said Mortgagor doee hereby fully warrsnL the title to said land, snd every part thereot, and wiA defead the same againat the 1~?nvful clsims oi sll persona whon~soever. PaoviDSn ALwe~ra that it the I~iortgsgor ahsll psy unto the Mortgagee thst ce~tain promissory noto~ of which the lollowing ia a aubetsntiel copf, to wit: = 20,700.00 Fort Pierce ~ ~On~ September 26th ~ 19 73 • FoR VwLOr Rscaivsn, the undersigned promiee(e) to pay to . J. T. STBiiART MORTGAGB (~OZ~ANY, INC. ' ~ s oorporation organised and e:isting under the la~va oRhe State of Florida , or order~ the principal sum oi TWEId'i'Y THOOSAND, SEVBN HUNDBBD AND NO/100- - - - - - - - - - - (i20,700.00- - ~i" with interest from date at the rate of eight aud one-half- P~ ~tu~ ~ 8~%) P~ ~um on the unpaid balance until paid. The said principal and interest ahall be payable at the o~ce of J. T. STSi~IART MORTGAGB COI~ANY, INC. ~ Co~ral Gables, Florida , or at auch other pla~ sa the holder may designate in writ:ng delivered or mailed to the debtor, in monthly installments of pNg ~~gD AND gIgTY-NINE AND ~ 18/ 100 - Dollar~~=159.18- ~~?e°cing on the first day of November ~ 1973 , and oontinuing on the firat day of eacL month thereafter until thia note is fully paid, exoept that, if not eooner paid, the Snai payment of princapal and int,erest ahall be due and payable on the first day of October ~ 2003 priv~'1e~e ia reserved to prepay at any time, without premium or fee the entire indebtedneas or any-part thereof not leas than the amount of one installment, or one hundred dol~ars (i100.00), whichever is lesa. If any deficiency in the 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 and accrued interest ahall at once become due snd ~ay- able without notice at the option of the holder of this note. Failure to exercise this option shall not const~tute ' s waiver of the right to eaercise the same in the event of any subeequent default. In the event of default in the payment of this note, and if the same is eollected by an attorney at law, tLe undersigned hereby agree(s) to } pay all eoats of collection, including s ressonable attorney's fee. ; This note ia secured by mortgage of even date e~ecuted by the undersigned on «~rrtain pmperty described ~ therein and represents money actually used for the acquisition of eaid property or the improvemente thereon. ; < Presentment~ protest. and notice are hereby waived. JQSevh Edward Duvall Joseph Edward D~rall ~ ~s/ xavme T. nuvaii -[~l ~ Mayme T. Duvall i - [s~.] ~ _ ~ ~ [~l $ i And ahall duiy, promptly, and fulty perform, discharge, execute, -eHect, complete, and comply with and abide i by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of thia ; mo*tgage, then this mortgage and the estate hereby created shall ceaee and be null and void. ~ The Mortgagor further oovenaats as follows: 1. T6at he will pay the indebtedness. as bereinbefore provided. Privilege ia .reserved to prepay at any time~ ~ without premium or fee, the entire indebtedness or any part thereof not lesa than the amount of one installment, or ~ one hundred dollars (i100.00), whichever ia less. 2. ln orcler morn fullr to prolect the securit~- of this mort~ag~, the ~iorfgagor, together with, and in ~ addition to, th~ monthl~- pa~'ments under the terms of the not~e se~ured 1?ereb~•, on the first dar o[ each month _ ~ until the said not~ is iull~ paid, w-ill pa~• to the Mortga~ee, as trust.~e, (under the terms o[ this trust as hcrein- after stated) the following sums: . . ~ (a) A sum equal to the ground rents, if any, next due, plus the premiuma that will next become due and payable on policies of fire and other hasard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property (all sa estimated by the Mortgagee and of which the Mort.gagor is ~ notiSed) less all sums already patd therefor divided by the number of months to elapse before one month ~ prior to the date when suc6 ground rents, premiums, taxes, and as,gessments wiU become delinquent, ~ such sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taues,andspecialas.sessments. ~ (b) The aggregate of the amounta payable pursuant to subparagraph (s) and those payable on the note secured ~ herebY~ ahall be paid in a single psy~tent each month,• to be applied to the following itema in t6e order ~ stated ' (I) ground rents, tsxes, sssessments, fire, and other hazard insurance premiuma; (II) interest on the note secured hereby; and (III) amortisation of the principal of said note. Any deficiency in the amount of such aggregate monthiy payment shsll, unless made good by the Mort- ~ gagor prior to the due date of the next such payment, const~tute an event of default under this mortga€;e. At l~iortgagee's option, Mortgagor will pay s"late charge" not eaceeding four per centum (4%) of any install- ment when paid more than fifteen (15) days aiter the due date thereof to cover the extra expense involved in ~ handling delinquent peyments, but such "late chsrge" shall not be paysble out of the prceeeds ot any sale ~ made to satisfy the indebtedness secured hereby, unless such proceeds are sufi'icient to discharge the entire indebtedness and all proper costs and expenses secured thereby. . w,: ~ :3. If the tofal of the pa~•ments made b~• the :1lortgn~or under (a) of para~raph 2 preceding shall exceed ~ the amount of pa~-ments actuall~• ma~le b~- tf~e Viortga~;ee, as trustee, for ~roand rents, taxes and assessments, and insurance premiums, as the ~ase ~na~= be, such excess shall be credited on subsequent pa~-ments to be made b~• th~ ~tortgagor for such items or, at ti'Iortgagee's oplion, as trustee, shall be refunded to vlortgagor. 1f, ~ however, sucti ~nontl?1~• pa~•ments shall nol be suffi~ient to pa~• such items when lhe same shall become due ~ and pay•able, then the ~tortgagor shull pa~• to thc ltortgagcc, as trustee, an~• amount neccssar~ to make up ~ th~ deficienc~•. Such ps}-ment shall be made within thirt}• (30) da~s after w-ritten notice from the Mortgagee ~ stating t6e amount of the deficiencc, which notice may be given bp mail. If at any time the Mortgagor a6all n, ~ B~o~ 219 ~ac~ 278 ~ ~ ~ s ~ ti _ , r^_ . _ _ d~