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Home My WebLink About1582 . . . 7'he Mortgugor hereby oovensnta w~it~ the Mortgageti thst he is indeteasibly seued of said ]e?nd i~a fes s~mple or such other eatate; J sny us is atated herein; that he has full power and lswiul_right to oonvev the earoe ~s aioresaid; that the tand ~a ireo ~rOm all encumbn?noes exoept aa Lerein otherwiae recited; that said~lortgagor ~vill make such fiirther asaurances to prove the aforesaid title to esid land in s~id Mortgagee ae msy be reaso~ sbl r~quired, ~nd that said Mortgagor does hereby i~ ~vurant We title to said Lnd, and evary part thereof~ ~ v an will defend the same against the L?winl claims of pereons whomnoever. PROVIDED ALWAYB ~s~ lI ~}le A~OI`~g8g0~' YbYII p~ UIItp ~b MOT~ig80 ZLAt ppitLlp ~pmjB9pl'~ n,pt,p~ ot which ti?afollovring ia a subst~ntial ooPy~ to wi~: i 29,850.00 Stuart , Flo~id~. February 4 , i~ 74. Fo~t Vir.vs RscrosD, t,Le uadarei~o~od pro~onise(e) to pyr to SOUTHERN MORTGAGE ASSOCIATES, INC. , authorized to do business in the State of Florida , s oorponatian org:ni~d and eoostin6 under tbs L?ns ot the State c~f Arkansas ~e P~p~1 TWENTY NINE THOUSAND EIGHT HUNDRED FIFTY AND NO/100------------------------ 29,850.00 irom d,?te st ~8 ~ Eight and one-half P~ ( 8, 5%) P~ ~~~paid b~lauoo untit p+?id. The aaid principal and interee~t ahaD be pqyuble ~ the offioe of SOUTHERN MORTGAGE ASSOC IATES, I NC 1999 S.W. 27th Avenue . ~ ~ ~ Mi ami , F1 ori da , or st euch other pl~roe as the Lolder ms,y dee~~oste in writing delivered or mailed to the debtor, in monthly installments of Two Nundred Twenty Ni ne & 55/100 Dollana 229. 55 commencing on the Srst day of March ~ 19 74 ~ aad oontinuing on t~ first day oi each month thereaf ter until this note ia fully paid, exoept that, if not eooner paid, the final paymen0 of principal and interest shall be due and payable on the first dey of February , 2004 Privile~e is reserved to prepay at any time~ without premium or fee the entire indebtednees or any pt~rt t~ereof not less than the amount of one uistallment, or one bundred dol~ara (5100.00), whichever ia less. If unq deficiency in the payment of any instaliment under this note is not made good prior to the due dsts of the nett such instsllment, the entire principal sum and accrued inte.reat shall at onoe become due and Fay able wzthout notice at the option of the holder oi this nots. Failure to exercise tLis option ahall not oonatitute s waiver of the right to exercise the same in the event of any eubaequent defaul~ In the event of default in the payment of this note, and if the eame ie oollected by an sttorney at L~v, the undersigned hereby agree(s) tq psy all costs of c;ollection, including a ressonable sttorney'e fee. This note is eecured by mortgage of even datq eaecuted by the undereigned on oertaia pmpertp deeca~ibed fherein snd represents money actually usbd for th~e aoquisit~ioa oi said propertty or tba improvemeats t~reon. Presentment, protest~ and notioe are hereby ~vaived. , _ js/ THOMAS L. EFFEND [~,f i ; /s/ EMMA .J . EFFEND . f . € . I~~ ; ; ~ And shall duly, pmmptly, aad fu dorno disc , n3' Pe , haTBe, e~cecute, eBect, eomplete, and eomply with aad sbide ~ by each and every the atipul8tiona, agreements, conditions, and eovenanta of said promiasory note aud o[ this ~ mo*tgage, t6ea this mortgage and the estate hereby trested ehall oea9e aad be null xnd void. ~ The Diortgagor further vovenanta as follows: 5 1. That he ~vill pay the indebtedness, as hereinbefore provided. Priv~ege ie reeerved to prepay st any time, ~ writhout premium or fee~ the entire indebtednese or aay part thereof not 1e~ than the aanount d one installment, oe ~ ane hundred dollara (i100.00), ~vhichevet is less. 2. In order niore fully to protect the security of this mortga~e,' the Moriga~or, together wriLh, and in ~ ad~lition to, the monthl~- pa~menta under the terrns of t)ie note secured l~ereby, on the first da~ of each ~nonth ~ ui?til t}ie said note is fu~ly paid, v?ill pay to the btortgagee, as trus6ce, (under tl~e terms o[ t~iis trusb ss }~erein- ~ aftrr statcd}~ the followiug sums: ~ (a) A sum equal to the ground rents, if any, ne:t due, plua the premiums that ~vill next beooine due and payable ~ on policiea of fire and other hasard insurance oovering t6e mortgaged property, plus taues and assessments ~ next clue on the mortgaged propertq (all as esLimated by the Mortgagee and of ~vhich the Mortgagor is ~ notified) less all sums already psid t6erefor divided by the number of months to elapse before one month ~ prior to the date w6en such ground t~ente, premiuma, taxes, snd asseesments ~vill become delinquent, ~ euch aums to be held by Mortg~ageeintivsttopaysaidgroundrent8,premiums,te~ee,sadspecislase~nenta. ~ (b) The aggreg~?te of the amounte pa able pursusat to eubparsgraph (a) and t6aeepayable on the note eecured - bereby, sball be paid in s aing~e psymeut each month, to be appLed W tbe follo~ru~g iteme in fhe ordet stated - (n ground rents, ta:eq, as~smwte, 5re, and other ba:ard insuranoe premiuma; (In interest on the note eecured hereby; and w' (III) amortisation of the principal of said note. Any deficiency in the amount of such te monthlp payment ahsll, nnlees made good by the Mort- gngor prwr to the due dste of the next suc payment,~ c:on.gtitute an event of default under this mort~a;;e. At biortgagce's option, Mortgagor will pay s"late charge" not e~`i:eeding four per centum (4%) of any inscall- - ment when psid more than fifteen (15) days atter the due data thereof to oover the exfxs expense involved in - handling delinquent ~apments, but such "late charge" shall not be psy~tble out of the proceeds of any sale - made to satisfy the ~ndebtkdness eecured hereby, unless euch proceeds are su~cien6 to d~charge the entira = . indebtecfness and all proper costa and expenses eecured thereby. 3. If the total of tl?e pa~ ments macle by• the M tgagor under (a) of paragraph 2 preeeciing ahall exeeed the amount o( parments actually made b~ tl'e Mortg~ee~ as trustee, for ground rents, taa~ and asses.gmenta, and insuranc~ premiums, as the case may be, such excess sl~all be credited on subsequent payments to be made = bt tbe ~:1~fongagor !or sucl~ itenis or~ st Mortgagee'e option, sa truatee, ahall be re(unded W Mortgagor. 1f, however, aueh monthly pa~~ments shall no6 be sufi'icunt to pay euch items when the same shall become due swd pa~-able, then the Mortgagor shall pav to the Mortgagee, ag trustee, sny amount necessary to make up - thp dot`iciener. Such pa~-ment shall be inade within thirty (30) Javs after wntten notice from the Mortgagee stating the amount of tho deficiency, Which notice may be givea by mail. Ii wti ~ay time Lhe Mortgagor ~ha11 eoo~ 223 P~ 1582