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Home My WebLink About1024 ~ . . ~ ~ The Mortgagor hereby covensnta with the Mortgaget~~ that Le is indefeaaibly aeized oi ssid land in fee eimple or such other estatet d any sa ie s*~ated herein; that he hsa tull power snd lawful right to oonvev the swme as sfaresaid; that tbe land ~a iree ~rom all eACUmbrances e~cept, sa Lerein otherwise recited; t.h~t esidlViortgagor ~vill make auch further aesurancea to pmve the sioreeaid title to asid lsnd ia ei?id I~iortgagee aa m~y be re~son- sb~yreq uired, snd that se~id Mortgsgor doee hereby fully wsrrant the tiWe to said land, and ever~ par6 thereot~ aad will detend the eame agsinat the lawiul clsime oi stl pereons ~vhomeoever. • Paovtu$a Atw~trs that if the biortgagor ehell psy unto the Mortgagee thet certain gromieeory note~ oi whic6 the lollorving is s eubatsntisl copf~ to wit: = 23, 500• 00 Fort Pierce , Florida. Dece~aber 28 . 19 73 • Foa Vwi.vs Rxcanrsn, tbe underei~ed promiee(e) to psy to J. T. STh~+IART M'JRTGAC~ WMPANY~ INC. ~ s oorporstion organised and e~ustina uader t6e lawe ot the Stat e of Florida ~ or order, the principsl sum of Zi~lII~1TY-7~ THOiTSAPID FIVE HUNDRSD APID 1~/200---------------------- Ddlare (i 23, 500• 00 with iaterest fmm de«te st the rate of E'IGHT ANID ON~ HAI~' Per oentum ( 8~ P~ sanum on the uapaid balanoe uatil p~id. The esid priACipal and interEet ehatl be payable at the o8'ioe oI J. T. STh~IART MJ~C~E G~OMPANX~ INC. 100 MLRACI~ MIITs in UORAL GABLES ~ FIARIDiA , or at such other plaos ae the holder msy designste in writing delivered or mailed to Lhe debtor, in monthly installmenta of ONE I~iJND~ EiC~II'Y APID 72~100-- I)oll~e 1$0. 72 oommencing on the 6ret day of February , 19 74 , and eontinuing oa the first dsy of each month thereafter until this note is fully paid~ ezcspt thst~ if not eooner paid, the finsl psyment of princapal and mtereet ahall be due and payable on the first day of J~ , 2pp4. privilege ia reserved to prepay st any time, wit~out premium or fee the ent~'u~e indebtednees or any psrt thereof not less than the amount of ~one inatsllment, or one hundred dol~ars (f100.00), whichever ia lees. If any deficiency in the peym ent of any installment under thia note is not made good prior to tLe due date of the n~t such installment, the entire principal sum and accrued interest ehall at once beo~me due and ~sy- able without notice at the optaon oi the holder of this note. Failure to exerciae this option shall not oone4tute a waiver of the right to eaercise the same in the event of sny aubeequent defeult. In the eveat of def~?ult in the payment of thia note, and if the same ia collected by an attorney st law, the nadersigned hereby agree(s) to pay all costa of oollection~ including a reasonable attorney's fee. Thia note ia eecured by mortgage of even date executed by the undersigned on certain property deecribed therein and representa money actually used for the acquisitioa of said pr~perty or the improvemente tbereon. Presentment, protest, and noticp, are hereby waived. '!'f?pi1t~~1~4Y St~B~ [3SAI~] ~MAS HAISEY ST[JRGILL /y~ ~l nri a T__ StLoi 11 ~gg~,~ GIDRIA J. STURQLL ' I ` I • [ss~,~ ; ~ ~ And ahall duly, promptly, and fully perform, discharge, execute, eHect, complete, and comply with and sbide ~ by each and every the stipulations, agreements, conditions, and covenanta of said promissory note and of this ~ mo*Lgage, then this mortgage and the estate hereby create~ shall cea9e sad be null and void. ~ The Mortgagor further covenants as follows: ~ 1. That he will pay the indebtedness, ss hereinbefore provided. Privilege ia reserved to prepay at any time, ~ without prem~ium or fee, the eutire indebtedne.ss or any part thereof not lesa than t6e amount of one installment, or one hundred dollara (i100.00), whichever is lesa. ~ 2. In order more full~ to pmtect the securit~~ uf this mortgage, the Mortgagor, together with, and in vddition to, th~~ monthl~- pa~~~enta under the terms of the note secured hereb~, on the first day of each manth ~ until the said note is tu71~ paid, will pa~- to the ;~tortgagee, as trustee, (under the terms of this trust as herein- aft~r stated) the following sums: (aj A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and p~yable on policiea of fire and other haaard ins~rance covering t6e mortgaged pmperty, plus taxes and sssessments ~ next due on the mortgaged property (all aa eatimated by the Mortgagee and of which the Mortgagor is ~ notified) less all sums slready paid therefor divided by the number of monthe to elap~e before one month prior to the dste when auch ground renta, premiums, taues, and assessments will become delinquent, such sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taxes,andspecialasse~menta. (b) The aggregate of the amounts payable pursuant to subparagraph (a) and tho~epayable on the note secured ~ hereby, ehall be paid in a single payment each month, to be appl~ed to the following items in the order F stated : ~ (I) ground rents, taxes, sa~easmenta, fire, and other hasard insurance premiuma; - (II) intereat on the nobe secured 6ereby; and - •(III) amortisation of the principal of said note. ' Any deficiency in the amount of suchaggregate monthlv payment shall~ unless made good by the Mort- gagor pr~or to the due date of the next such payment, constitute an event of default under this mortgage. At ~'Iortgagce s option, Mortgagor will pay a late charge not exceeding four per centum (4%) of any install- ment when paid more than fifteen (15) days after the due date thereof to cover the extra expense involved in " handling delinquent paqment:~, but such "late charge" shall not be payable out of the proceeda of any sale made to satisfy the indebtedness secured hereby, unless such proceeds are au8'icient to discharge the ent.ire ~ indebtedness and all proper costs and expenses secured thereby. 3. If the total of the pa~-ments made b- the Mortgagor utider (a) of paragrap}? 2 preceding shall exceed the amount of pa~-ments actuall~- made bv t~e ~4ortgagee, as trustee, for ground rents, taaes and assessments, and insurance premiums, as the case ma~~be, such excess shall be credited on subsequent~ payments to be made b~ the ~iortgagor for sucl? iten?s or, at ~iortgagee's option, as trustee, shall he refunded to Mortgagor. If, ho~cver, such monthl~ pa~-ments shall not be sufficient to pa~ such items when the same shall become due and pa~-able, then the \iortgagor shull pa~ to the Mortgage~, as trustee, an~ amount. necessar~ W make up ttie de~icien~~-. Such pa~•inei?t shall be made within thirLy (30) da~s after w-ritten notice from t e Mortgagee stating the emount of the deficiency~ whi~h n~ce may be ~ven by mail. If at any time the Mortgagor ehall ~~~x p~cE~.~~4 ~ ~ _ - ~ - - ~ rv~~~ _ x , . _ _ _ ' ~ ~ V