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Home My WebLink About2281 The Mortgagor hereby oovensnte with the Mortgage~?, tha~ be ia indefeasibly eeized oi eaid li?nd in fee simple or such other estat,e, if any ss is etated herein; that he ha8 fult power end lewful right to convev t6e same as aforesaid; ihat the isnd is iree ~rom t?U encumbrancea except as herein otherwise recited; that aaid7ldortgagor ~vill make such further assurances to provo the aforesaid title to oaid land ia said Mortgagee sa m~y be reaso~ •blyrequired, and thet said 11Zortgagor doea hereby iullp warrsnt the title to eaid land, ~nd every put theteof~ and will defend the same agains~ Lhe lawful claims oi all pereons w?homsoever. PaovioEn ALw~Ye that ii the biortgagor shall pay uato the Mortgagee t~0 cert~in promiseory note, oi ~vhich tha iolk~wing ia a rubetaatinl ooPS, to ~viL: = 32,700.00 Stuart , I~lo~ida. January l0 ,1974 . Foa Vwi.vs ~tscsivsD, tbe uadareigned promise(e) to p,y t~o SOUTHERN MORTGAGE ASSOCIATES, INC., authorized to do business in the State of Florida , s eorporsttan organiaed and e~datins under tbe L~s ot the State of Arkansas ~er, ~ P~pP~ TNIRTY TWO THOUSANO SEVEN NUNDRED and No/100------------------------------ 32,700.00 w;th ~nterest irom date at ~ Ei ght & one-ha 1 f P~' t 8. 5%) P~ on t6e unPsid balanoe w?til P~?id. The ~aid principal and interest shaII be payable at the o8'ioe ot SOUTHERN MORTGAGE ASSOCIATES, INC. , 1999 S.W. 27th Avenue in M i ami , F 1 or i da • , or at euch other plaoe aa the Ldder msy designste ~n writin~ deliven+d or mailed to the debtor, ia monthly installmenta of Two Hundred Fifty One & 46/100 Dollars 251.46 commencing on the first day of February ~ Y974 ~ and oontinuing on the Srst dsy of each month thereafter until Lhis note is fuUy paid, eaoept tLst, if not eooner~a?d, the final paytnent of principal and intcrest ahall be due and payable on the first day of Jd11ud1"y, .2004 • Privilege is re~erved to prepay at any time~ without premium or !ee tLe entve indebtednees or any part thereof not less than the amount of one u~stallment, or one hundred dol~ara (s100.00), rvhichever ia less. If any deficiency in the payment of any installment under this note is not ~de good prior to the due date of the neat such installment~ the entire principal sum and accrued interest shall at once become due and Fay- ~ able without notice at the option of the holder of this Rote. Failure to exem,ise t,~ option shall not oonstitute s R aiver of ihe right to exercise the same in the event of any subeequent default. Zfn tbe event of default in the payment of this note, and iE the same is collected by an attomey at ls~?, the undersigned hereby agree(s) to pay all c:osts of collection, including a reasonable attorney's fee. ~ This note is eecured by mortgage of even date~r eaecuted by the undersigned on cartain pmperty descn'bed ~ therei.n snd represents money actually used for the acquisition oi ~d property or tLe improvements tDo~c~eon. Presentment, proteet, and noticA are hereby waived. /s/ .IAMES T. PRIDE [~L~ „ /s/ .lANE M. PRIDE ts~?L~ ~ And ahaD du1y, promptlp, aad fuIly pedorm, discharge, execute, e8ect, comptete, and eomply with and abide ~ by esch and every t6e stipulations, agreements, oonditions, and covenants of said promiasory note aad ot ~his mo*tgage, thea this mortgage and the estate hereby created shall oeASe and be null and void. - ~ The Mortgagor further oovenants as follows: ~ 1. That he w~ill pay the indebtedness, as hereinbefore provided. Privilege ie reee,rved to prep~p st any time, ~ ~vithout premium or fee~ the entire indebtedneas or any part thereof not less than the amount of one installment, or ~ one hundred dollara (i100.00), whichever is less. ; 2. In order niore full~ to protect the security of this mortgage,~ the Morigagor, toget.her ~vith, and in ~ addition to, t}~e monthl~ pa~~nents under the ter~ns of the note sc~cuced 1?ereby, on the first day o[ each ~nonth g u~~til the said note is fu~1~- paid, hill pay to lhe ;~iortgagce, as trustee, (under the terms of this ttusL as herein- 5 s?fler statcd) thc follov?ing sums: ~ (a) A aum equsl to the ground renta, if sny, next due, plus the premiums that ~vill next beoome due und payable ~ on policiea of fir~ and other haaard insurance covering the mort~aged property. plus taxes and sssessments neat due on tbe mortgaged property (all as estimated by the Mortgagee and of ~vhich the Mortgagor is notiSed) lees all eums already psid ther~or divided by the number of months to elapse before one month ~ prior to t6e date ~vhen such ground rnnte, premiums, taxes, and saseesments ~vill become delinquent, ~ such sums to be held by Mortgsgeemtrusttopayeaidgroundrenta,premiume,taxes,andspeciala~ssments. (b) T6e aggregate of the amounts pa able pureuant to subparagreph (a) and those payable on the note eecured ~ Lereb : ehall be paid in a~e psyment each month, to be applied w the following itemB in the order (I) Smund r~nta, taxea, a~nent~, fire, aad other hasnrd insuraace premiums; (In interESt u~n the note eec~red herebq; and (III) amortisation of the principal of eaid note. Anp deficiency in the smount of such~ggregate monthly payanent ehall, unleas made good by the Mort- - gagor pr~or to the due dste of the next auch payment, c:onst~tute an event of default under this mort~age. - At Mortgagee's option, Mortgagor will pay a"late charge" not exceeding fout per centum (4%) of an~ install- - ment when paid more than fitteen (15) days after the due date thereof to cover the extra expense involved in handling delinquent ~aymenta, but such "late charge" shall not be psyable out of the proceeds of eny sale made to ealisfy the ~ndebtedness secwed hereby, unless such proceeda are eufl'icieat to d~cha~ge the entire - indebtedness and aU proper costa and expenses eecured thercby. 3. If the total of the pa,y~nents made ba• the Mortgagor under (a) ot paragraph 2 preceding al~all exceed the amount o[ pat mentR actually made b~• tt'e Mortgagee, as trustee, for ground rents, taxes and asses.gments, and insurance pre~niums, as the case may be, euch eacess sLall be credited on subsequent payments to be made ~a b~ t~?e Liortgagor !or sucli items or, at Mortgagee's option, as truatee, ahell be refunded w Mortgagor. If, however, sueh monthly pa~-menta shall not be su$'icien~ to pay such items when the same shall become due s~d pa-able, then the Mortgagor ahull pay to the Mortgagee, as trustee, sny amount necessery to make up the d~cienet . Such pa}-ment el?all be made within thirty (30) davs sfter written notice from the Mortgagee atatiag tbe ~?imount oi tho deficieacy, which notice msy be given by mail. If at any t~ime We Mortgagor atu~ll ~ ~ -