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HomeMy WebLinkAbout2488 ~ ~ . ? The Mortgagor hereby oovenenta v~ith the Murtgage~?, t6st he is indeteanibl seirsd oi said land in iee e simple or auch other eatatet ~f anp aa ia atsted herein; thst he hae tull po~er and !s ul right to o~ave~ tha s+?me as atoresaid; that the land ia iree ~rom all encumbrances except 4a hereia otherwiae recited; that said~ortgag~or will make such further assurances to pmve the sioreeaid title to e~id land in ssid Mortgagee as m~~ be re~aon- sblyreq uired, and that said Mortgsgor doee hereby fullp warn?nt the title to said land~ and evory part thereot~ and will defend the same against the lawful clsima of all pereoas whomsoever. PAOVIDED ALWAYB tD6L lI Lb8 ~~O[~ig0! BbiU ~lAy 11II~0 ~Le MOl"~i~60 ~L Ce~t81n pl~Dinl8s0~ IIO~~ of which the lollowing ia s subetanti~?1 oopy~ to wit: = 7,900.00 • Fort Pierce , FloricL, December 12 ,1Q73 . ~~5ct~t$- Racsrv$n~ the under~gned promiee(e) to psy to ' J. T. STEFTART MURTC~AGE OOMPANY~ INC. • • , s oorporation ordsniaed aad e~oedin~ n4der the lsve ot the State of Florida ~ or order, the principal sum d Seven Thousand Nine Hundred and No/100-----------------------------------~la*s 7,900.00 with intereet fiom d~?te st ~ the rate af Eight and One Half per centum Per snnum an the unpaid balanoe uatil paid. 1be eaid principal aad interest ehall be payable at the office of J. T. STEWART MJRTGA(~ ~OMPANY, INC. ~100 Miracle Mile ~ Coral Gables, Florida ~ or at such other plsce as t6e holder may de~nate in writin6 delivered or mailed to the debtor, in monthly installments of Sixty-three and 67~100----------~~ : (i63.67 ~~~cing on the first day of February , 1974' ; aad oontinnin~ on tbe first day of each month thereafter until this note is fully paid, ezcept that, ii not eooaer paid, tLe Snal psyment of principal and interest shall be due aad paysble on the firat day of Januazy ,1999 . Priv~'1ege ~s reserved to prepsy st any time~ without premium or fee the entire indebtednees or any pari thereof not lees than the amount of one inatsllment, or one hundred dolfars (i100.00), whic6ever is 1ees. If any deficiency in the peym eat of sny inatallment under this note is not made good prior to the dne date of the next such installment, the entire pr?ncipal sum and accrued intesrest ahall at once become due aad Fsy- able without notice at the option of the holder of tLis note. Failure to eaerciee tLia option shall not oo~titnte s waiver of the right t~o eaercise the eame in the event ot any subeequent defeul~ In the eventi of defwlt in t6e payment of t~his note, and if the same is oollected by aa attorney st lsw, the nndetsigned hereby agt~ee{s) to pay all coata of collection, including a reasonable sttorney's fee. This note ia secured by mortga~?e of even date eaecuted by the underaigned on aertain property deecrabed therein and represents money actually used for the aoquisition of eaid pmperty or the improvemeats tbe~eon. Presentment, pmtest, and notice, are hereby waived. WITI~SFS AS TO HIS MARK: ~ ~s Alexander J. 7~aveglio(~s mark~• gg~,] 1 s/ E. C. ..paldin~ li E C. SPALDING AI~'~XArIDER J. IAVEGIS s~ i ' ~ / s/ Bill Reed ~8~?L~ . ~ BI LL REr~ i Mildred Lave~lio ~gg~L~ ~ MIIDRED IAVEGISO [~?L] i ; And shall duly, promptly, and fully perform, discharge, execute~ e8ect, oomplete, sad comply ~vith aad abide ; by esch and every the stipulations, agreements~ conditions~ and covenanta of said promissory note and a[ this ~ mo?tgage, ihen this mortgage and the estate hereby created shall cesse sad be null and voed. a The Mortgagor further oovenants ss follows: 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to PieP~Y ~~y ~ without premium or fee, the eatire indebtednesa or any part thereof not less than the amount of one installment, or ~ one hundred dollars (i100.00), whichever is less. ~ 2. In ord~r n~ore full~ to pmtect the securit~- of this mortga~;e, t}?e ~iortgagor, together vcith, and in ~ a~(dition to, th~~ montlil~- pa}-~nents under the tenns of tlie note secured hereb~, on the fiist da~ of each month ~ ??ntil th~~ suid note is [ullt paid, ~ill pa~- to the ~lortgagee, as trustee, (under the terntis of this trust as herein- afte>r stated) the (olloaing suuis: ~ (a) A sum equal to t6e ground r~nts, if any, ne~ct due, plus the premiums that will nert beoome due and payable s on policies of fire and other hasard insurance covering the mortgaged property~ plus taaes sad asses~ents ~ next due on the mortgaged propeity (all ea estimated by the Mortgsgee and of which t6e :4iortgagor ia ~ notified) less all sums already paid therefor divided by the number of montha to elapee before one moath ~ prior to tbe date when such ground rents, premiums, ta~ces, and sssessments will become delinquent, ; such sums to be held by 1~lortgageeintrusttopayaaidgroundrents,premiums,ta:es,sadspec,ialasaessments. ~ (b) The aggregate of the amounts payable pursuant to subparagraph (a) and thoee psyable on the nMe aecured hereby, shall be paid in a single payme~t each month, to be appGed to the following items in the ordPr stated > (I) ground rentE, taaes, assessments, fire, snd other haaard insurance premiums; - (II) interest on the not~ secured hereby; and (III) amortisation of the principal of said note. Any dPficiency in t6e amount of suchaggregate monthly pa~-ment ahall, unless made good by the Mortr ~ gagor prior to the due date of the next such pe~•ment, const~tute an event of default under this mortgage. ~t ~lortgagee's option, Mor~,gagor vrill pay a"lat,e cl~arge" not exceeding four per centum (4%) of any inatall- ment w•hen paid more than Sfteen (15) days after the due date thereof to cover the extra expense involved in handliog delinquent ~arment:, but such "late charge" shall not be payable out ot the proceeds of any sale ~ made to satisfy the ~n~ebt,edness secured hereby, utiless such proceeds are aufficient to d~scharge t6e entire indebtedness end all proper costs snd expenses secured therebS . :3. If th~ total of the pa~-ments ~nade b~- t}ie ~iortgagor under (a) of paragraph 2 preceding shali exceed the amount of pa~-n~ents actuall~- made b~ the ~lortgagee, as trustee, for ground rents, taxes and as.gessmenls, xnd insuranc~ premiuu~,, as the c~c~ ma~~t~e, su~h ercess s}iall be credited on subseqvent pa~-tnents to be mede b~ the ~iortgagor for such itc~ms or, at iiortgagee's option, as trustee, shall be refunded to Mortgagor. If, - howe~-er, suci? monthl~ pa~-ments shall not be suffi~ient to pa~- such items when the same shall berome due and pa~-able, then the ~iort~agor shnll pa~- to the Ziortga~?ee, as trustee, an}- amount necessar~ to make up _ th~ c1efi~•ienc}-. ~uch pa~-~nent shall be made aithin thirt~~ (30) da~s after written notice from the tifortgagee statu~g the amount of the deficiencv, w6ich n t; e e giv il. If at any L'une the Mortgagor ehall ~ ~ PaL#~~ = ao~c _ . .