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Home My WebLink About1854 • a • ~ The Mortgagor hereby covensats with ~he MortgageE?~ that he is indeteaaibly seized of said land in fee eimple or such other estatet ~f any as is atated herein; that he has tull power snd Iswiul right to oonvev the snme ss aforesaid; that the land is free ~rom all encumbrances eacept 4s herein otherwise recited; that, said~tortgagor will moke such further ssaurancea to prove the aforeaaid tiitle to said land in said Mortgagee ss may be reason- ubly required~ snd that said Mortgagor does hereby i~ warrsnt Lhe title to said land~ and every part tl~ereot~ snd will defend the same againat the lawful claims of persona whomsoever. PROViusu ALw~Ye thst ii the ?11o~tgagor ehall psy unto the Mortgagee that certain promissory note~ oi which the following ia s aubatantisl oopf, ta wit: = 28,950.00 Fort Pierce, • ~~T~ Navember 28th 1973 Fos Vwi.vs Rccacvsa, the undereigued promise(e) to pay to ~ IrCClu1GHAN KORTGl~GB COI~ANY, INC. , s oorporation organi~d snd e~dating under the lswa of the State of Florida ~ or order~ the ptincipal sum ot TfiBN1Y-EIGH'r THaI1SAND b NINE gUIiDBBD AND FIFI'~T AtiD NO/100- (i28,950.00- - k~tb ~~~t from date at the rsCe of eight ~ one half per centum ( 8 1/1'0) P~' ~u~ ~~e unpaid balance until paid. The said principal and interest shall be payable at the o@'ice of H~Q(~N I~ItTGAGS OOI~ANY, INC. in Coral GBbles, Florids , or at such other place as the holder nnay designate in writing delivered or mailed to the debtor, in monthly installments of TFIO HUNDRED ~ TiTENTY-1~i0 ~ 61 / 10~11ars (i 222. 61- commencing on the first day of Jaauaty , 19 74 , and continuing on the fiist day of esch month thereafter until thia note ia fully paid, e~cept that, if not sooner paid, the final papment of princ~pel and 'u?terest shall be due and payable on the firat dey of Decesber;2003 • ~ privil'ege ~s resecved to prepay at any time~ without premium or fee t6e entire indebtedneas or any part thereof notless than the amount of one installment, or one hundred dol~ars (t100.00), whichever is lesa. ~ If any deSciency in t~e paym ent of any installment under thia note is not made good prior to the due date y of the nezt such installment, the entire principal sum and accrued interest shall at once become due and pay- able without notice at the option of th~ holder of th~s note. Failure to exercise this option shall not const?tute a v~aiver of the right Lo ezerc~se the same in the event of any subeequent defaWt. In tbe event of default in tbe pafinent ot this note, and if the same ia collected by an sttorney st law, the undersigned hereby agree(s) to pay all costs of collection, including a reesonable attorney's fee. : This note is secured by mortga~e of even date executed by the underaigned on certain pmperty described therein and represents money actually used for the acquisition of said pmperty or the improvemente thereon. - Presentment, protest. and noticg are hereby waived. ~ , ~ ~ ~ /~i~~''~/~lc~ : ~.iyy~ L ` f~ ROb6lt`H~ug188 eemSn ~ - - ~ ~ " ~J ~~~1s t;1'~....~~~SEAL] : I Saadra R. Freeman ; - [s~] ~ i ~ - ~~I'~ ~ And shall duly, promptly~ and fully pedorm~ discharge, execute, effect, complete, and comply 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 created shall cP.ase and be null and void. ~ The Mortgagor farther covenants as follows: . ~ 1. That he ~vill p~y the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time~ ~ without premium or fee, the entire indebtedness or any part thereof not less than the amount of one uistallment, or _ ~ one hundred dollars (i100.00), whichever is less. ~ 2. tn order mor~ full}- to protect the securit~- of this mortgA~e, the ~~iortgagur, together vrith, and in addition to, the monthl~- pu~-n~ents under th~ tenus of 11?e note s~cured hereb~-, on the first cla~- of eaeh month ~ until ti~e suid note is full~- puicl, ~il! pa~- to the ~iort~agee, as trustee, (under the teruis of this trust as herein- ~ aft~~r statcd) the follo~cing sums' ~ next due lus the remiums that will next become due and payable (a) A sum equal to the ground rents, J anY. ~ P P on policies of fire and other hazard inaurance covering the mortgaged property, plus taxes and assessments ~ next due on the mortgaged property (sll as eslamat~ed by the Mortgagee and of whic6 the Mortgagor is ~ notified) less all sums alreacly paid therefor divided by the flumber of months to elapse before one month prior to the date when suc6 ground rents, premiums, taxes, and assessments will become delinquent, ~ such suma to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taxes,andspecialassessments. ~ ~ ~ (b) The aggregate of t6e amounts psyable pursuant to subparagraph (a) and those payable on the note secured 6ereby, shall be paid in a single psyment each month, to be appLed to the following items in the order atated: (I) ground rents, taues, assessments, fire, and other 6asard insurance premiums; ~ (II) interESt on t6e note secured hereby; and ;t; (III) smortisation of the principal of said note. Any deficiency in tbe amount ot suchagg regate monthly payment shall, unless made good by the Mort- gagor prior to the due date of the next such pa~~ment, const~tute an event of default under this mortgage. At ~IortgageE's option, Mortgagor will pa~ a"late cl~arge" not exceeding four per centum (4%) of an~ install- ~ ment when paid more than Sfteen (15) da~s after the due date thereof to cover the extra expense invol~ed in ra handling delinquent ~ayments, but such "late charge" shail not be payable out of the proceeds of any sale made to satisf~ the mdebtrdness secured hereby, unless such proceeds are aufficient to discharge the entire indebtedness and all proper costs and eapenses secured thereby. ~ ;i. 1( the total of the pa}•m~~nts macl~ b~ the ~'Iort~aKor under (a) of para~raph 2 precedin~ st?all exceed ~e the amount of pa~-roents actuall~- ma~ie b~- tt~e ~tort~a~ee, as trustee, for ground rents, taxes and e.s.4es.sments, and insurance premiums, as tt?e ~a~e inar be, such excess shall be credited on subseyuent pa}'ments to be made b~ the ~iortgagor for su~h items or, ut ~tortgagee's option, as trustce, shall be re(unded to ~iortgagor. If, ~ hov?e~er, such tuonthl~• pn~•ments shall not be~ suffi~ieM to pa~- such items when the same shsll become due and pa~-able, then the ~IortKagor chull pa~• to the Mortga~?~e, as trustce, an~ amount neccssar~ to rnake up ~:r >~t- th~ de~ieiene~-. tiuch parin~~nt sl~all be mude Hithin thirt~• (30) da~-s after written notic~ fro~n t ie !~tortgagee stating the amount of the deficienc~, which notice may be given by mail_ If et any time the Mortgagor at~all ~ri ~ R 2?2 1854 gn,X PhCt = . -