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HomeMy WebLinkAbout2145 • ' • . The Mortgagur he.-eby cove~,auta w•ith the Mortgagee~ that he is indefesaibly aeized oE eaid land in fee eimple or euch other eststet d any aa is ateted herein; that he hss full power snd lswtul right to oonvev tha s~me ~e aforessid; that the lend ia free from aU encumbrancee eacept as herein otherwise r~cited; thst eaid7l~tortgagor will make such further sesursncee to prove the aioreeaid title to said land in ssid Mortgsgee as m~y be reAeon- ablyrequired~ and thst said Mortgagor ~loee hereby fullp warrsnt the title to said land, and every part thereot~ snd will detend the same ageinat the lewful claima of all pereone whomsoever. Paov~nEn A~.weYS that it the Aioctgagor ahall psy uqyo the Mortgagee thst certsin promiseory note. oi ~vhicL the following ie s subetantial coP~~ to wit: i~~ Spp~ pp Fort Pierce , F7orid~. January 8 .19'74 • FOR VALUE RECEIYED~ t6e underaigned proini~e(e) to psy to TI~ O~I~II+~NWEAI~'H OORP'ORATION , s oorporstioa organised aad e:istin~ under the laws of the State of Florida ~ or order, the principal eum of ~r~IF~TY-rTINE TIi~U`'aAPID FIVE Ht7ND~9 AAID NO/100 ----------------------Dollars (i 29, 500. 00 w;t6 intereet from dste at the rate of EIGHT APID ONE HAI~'----- P~ oentum ( 82 Per annum on the unpaid balanoe until paid. The said priacipal and interest ehall be payable at the o~ce of THE CONIF~JNWEALTH CORPORATION PeO. B~X 3667 in TALIAHASS~~ FUJRIDA ~ or at such other p18oe ae the holder may d~gn~ te in writing delivend or mailed to the debtor, in monthly inatallments of ~ Hundred ~aenty-Six and t~3~10~~ 226.83 coanmencing oa the firat dey of March , 1974 , aud oontinuing on tLe firet day oi each month thereafter until thia note ia fully paid, euoept thst, if not eooner paid, the fi2~psyment of principal and interest shall be due and peyable on the firat day of February , 4 privile~e is reserved to prepsy at an~ time~ without premium or fee tLe entire indebtednees or sny pae~ t,hereof not less than the amount of one instaliment, or one hundred dol~ara (i100.00), whichever is less. If any deSciency in the paym ent of any inatallment under this note ia not made good prior to the due dste of the next such inatallment, the entire principal sum and accrued interest ahall at once become due and ~sy- able without notice at the optaon of the holder of this note. Failure to exerciae this option shall not oonatatute a a siver of the right to exercise the same in the event of any subeequent default. In the event of dafsult in the payment oi this note, and if the same ia collected by an attorney st law,-the undersigned hereby agree(s) to pay ell coata of collection, including a reasoneble attomey's fee. This note ib secured by mortgage of even date executed by the undaraigned on certain pmperty deecribed therein and represents money actually used for the acquisition of sa~d property or the impmvements th~e~reon. Present,ment, proteat, and noticR, are hereby waived. ~~~~~n3 e~ T?,o~nas F; rLn [ggAL] DANIEL THOMAS FII~L1 ~ : 1s~arol.yn A. Finn [,~L] ~ ~ GAROLYN A. FINN ~ ~ ~ ~ ~ ; Md shall duly, pmmptly, and fully perfarm, discharge, execute, e6ect~ complete, and comply with and abide ° by each and every the stipulations, agreements, conditiona, and eovenants of said promissory note and of this e mo*tgage, then thia mortgage and the estate hereby created ahall cease snd be null and void. ¢ The Mortgagor further covenants as follows: d 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepey at any time, ~ without premium or fee, the entire indebtedness or any part thereof not lesg than the amount of one installment, or - one hundred dollars (i100.00), whichever ia less. 2. In or~l~r iuort~ full~• to prot~ct the securit~- ot tliis mortgage, the 4lortgagor, together with, and in ~ r~~l~lit ion to, thr fllOll~}1I~" ~8}"ill/'nts under th~ terrns o( the not~ secured hereb~~, on thc first da~ o( each month ~ uutil tlu• sui~l not~• is futl}- puid, H~ill pn~• to the :41ort~n~ee, a.s truste~, (under the terms of this trusl as herein- ~ att~~r stati~d) th~~ following suu?s: ~ (a) A aum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable " on policiea of Sre and other hazard insurance covering the mortgaged property, plue taxes and assessments $ neact due on the mortgaged property (all as estimated by the Mortgagee and of w6ic6 t6e Mortgagor is ~ noti6ed) less all sums already paid therefor divided by the number of months to elapse before one month ~ prior to the date w6en such ground rents, premiums, taxes, and as.gessments will become delinquent, suc6 suma to be held by Mortgageeintrusttopaysaidgroundreats~premiums,taxes,andapecialaeaessments. (b) The aggregate of the amounts paynble pursuant to subparagraph (a) and thaee payable on the note secured s hereby, shall be paid in a single payment each month~ to be applied to the following itema in the order - stated: ~ (I) ground renta, ta~cea, agsesaments, fire, and other 6aasrd insurance premiums; ' (II) interest on the note secured hereby; and (III) amortiaation of the principal of said note. Any d~ficiency in the amount of suchag gregate monthly payment ahall, unless made good by the Mortr gagor prior to the due date ot the next suc}~ pa~•ment, const~tute an event of default under this mortgage. _ At ~iortgagee's option,111ortgagor wiil pay a"laie cliarge" not exceeding four per centum (4%) of any install- ment when paid more than fiftecn (1.,) days after the due date thereof to cover the extra expense involved in handling delinquenL ~ayment;., but such "late charge" shsli not be payable out of the pra;eeds of any sale made to satisfy the mdebt,ednes.g secured hereby, unless such proceeds are sufficient to d~scharge the entire - indebtcdness and all proper costs and expenses secured thereby. 3. If the~ total of th~ pa~•n~E~nts mecie b~• the :~lortga~;or under (a) of paragrapli 2 preceding shall exceed - the un~ount ~f pe}-~i?~nts a~tuall~• ~ned~ b~~ t~i~ ~lortga~;ee, as trustee, for ~round rents, taxes and assessments, an~l insuran~~~ pr~n?iumv, a.g the ~~ase nia~ ~be, such ~scess shall be creditecl on subsequent pa~•ments to be made b~- the ~tortKagor for such iten~s or, at :~iortgagc~e's option, tis truslee, shall be refunded to Mortgagor. if, ~ hov?~~~•er, su~~h monthl~• pa}•ments sLall not bc+ sufficient to pa~- such items when th~ sa~ne shall become due _ and pa~-abl~, thc•n the ~1ortKa~or shall pa~~ to th~ :~iort~a{;ce, a.g trustee, an~ amount necessarV to make up th~ ~le~ici~nc•~-. tiu~h pa~-in~nt shall he rna~lc~ vrithin thirt~ (:i0) da~-s after written notice (rom the Mortgagee stating the amount of the deficiency, which notice r?~~ - n byEr~l.~~at any timo the Mortgagor shall 9t~Cx ~ ~ bfi ~l ~ _ .x._.._ _ - . , a . . . .