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Home My WebLink About1764 t ' ' • • . The Mortgsgor hereby covenanta with the Mortgaget~, that he is indefeasiblv seized oi said land in fee eimple or such other estate~ d any sa is stated herein; t.hat he hsa tull power end law~ul right to oonvev the aame ae stareseid; that the lsnd ~ iree ~rom sll encumbrances except sa herein otherwise recit~ed; that saidlViortgagor wil! make such further asaurances to provo the aforeeaid title to eaid land in said Mortgagee as msy be reaeon- sblyrequired~ snd thst said :~Sortgagor doee hereby fully warrant the tiWe to asid lsnd, and every part thereof, and will defend the same agsinat the lawful clsims oi sll peraons whomsoever. Pxovinsn ALwA~rs that if the !~iortgagor ahall pay unto the Mortgagee thet ce~tain promiseory note~ of wrhich the following is a aubatantial copf, to wit: i 16, 700. 00 ~ Fort Pierce , Florida. February 4, 1974 . FOR YALUS RECSIYTrD, the underaigned promise(s) to pay to J. T. STEWART NARTGA~E COMPANY~ INC. . s oorporation organised snd e~oatin~ under the ~ la~vs of the State of Florida , or order, the principal sum of SIXTEEN THOUSAI~ID SE'VF~T HUrIDRED APID No/loo------------------------------ Douars 16, 700. oo ~.ith intereet from dste at the rate of gG~ ~ p~ ~~F per centum ($2 ~Jo) per snnum on t6e unpsid balance until paid. The said priacipal and interest shall be payable at the o~ce of J. T. STEFTART IyAR'1'GAGE QOMPANY~ INC. 100 MLRACLE MIIE in a F~~ ~ or at such other p1acE ua the holder may d~ate in writing delivered or mailed to the debtor, in monthly installments of ONE HUAIDRID Zi~NTY-EIGHT and 42~1~~ (i 128.42 commencing on the firat day of April , 197~+ , sud oontinuing ~ the &rat day oi each month thereafter until this note is fully paid, exoept that, if not eo~er paid, the final papmen~ of principal and interest shall be due and payable on the firet day of Ma,rch ,2004 . Pri ts reserved to prepay at any time, without premiam or fee the entire indebtednees or any gart thereof not ess than the amount of one uistallment, or one hundred dol~ara (i100.00), whichever is lese. If any deficiency in the payment of any installment under thia note is not made gc~od prior to the due dat,e of the next such installment, 'the entare principal sum and acerued interest shall at once become dne and Fay- able without notice at the option of the holder of this note. Failure to eaercise this option ehall not oonstatute s a aiver of the right to e~cercise the same in the event of eny subsequent default. In the event of deisult in the payment of this note, and if the same is collected by an attorney at law, the undeisigned hereby agree(s) to pay all coats of collection, including a reasonable attorney's fee. Thia note is secured by mortgage of even date executed by the undersigned on certain propertyGdeeciibed therein and represents money actually used for the acquisition of eaid pmpe~rty or the improvemente the~reon. Preaentment, protest, and notice are hereby waived. ~ Char].es Fra.ncis Longworth ~~L~ i G'~iARIF i F'RANCIS N ~ . 1s~ Margaret sue Longworth ~~L~ MARGAR~T SUE IANGWORTH i ~ [s~.] r ~ ~ ~ Md shall duly, promptly, and fully pedorm~ discharge, execute, effect, complete, and comply with and abide by each and every• the stipulations, agreements, conditions, and covenants of said promiasory note and of thia ~ mort_gage, then this mortgage and the estate hereby created shall cease and be null and void. The biortgagor further covenants as follows: ~ 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepaq at any time, without premium or fee, the entire indebtedneas or any part thereof not less than the amount of one inatallment, or one hundred dollars (=100.00), whichever is less. - 2. I~? order more full.- to protect the securit}- of this mortgage, the !liortgagor, together with, and in additian to, th~~ manthl~- pa~•nients undt~r the terms of the nate secured 1?ereb~-, on t}?e first da~ of each month ~ until tht~ svici not~~ is full~• paicl, w-ill pa~- to the ~tortgagee, ss trustee, (under the terms of this trust as herein- ~ t~ft~r ~tatedl tl~e following sums: ~ (a) A sum equal to the ground rents, if nny, neat due, plus the premiuma that will next become due and payable ~ on policies of fire and other hazard insurance covering the mortgaged property, ptus taxes and as.sessments ~ nect due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor ia notifi.sd) less all sums already pa~d therefor divided by t6e number of months to elapee before one month ~ prior to the date when such ground rents, premiums, taxes, and assessments will become delinquent, ~ such sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taaes,andapecialaese.ssments. (b) The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the note secured ~ hereby, shall be paid in a single payment each month, to be applied to the following itema in the order atated: (I) ground rents, taxes, assessments, fire, and other hazard insurance premiums; t= (II) interest on the nobe secured hereby; and =y~ (III) amortization of the principal of said note: Any deficiencS in the amount of suchag gregate monthiy payment sball, unless made good by the Mor~ ; ga~;or prior to the due date o[ the next suci~ Pa~~ment, constitute an erent of defeult under Lhis mortgage. _ At ;ltort~agee's option, Mortgagor will pay a"late charge" not eaceeding four per centum (4%) of any install- ment .~•hen paid more than Sfteen (15) days atter the due date thercof to cover the extra expense involved in ~V'~' hand~ing delinquent ~ay men:s, but such "late charge" shall not be payable out o( the proceeda of any sale made to satisf~ the mdebtedness secured hereb~-, uriless such proceeda are suH'icient to discharge the entire indebtedness and all m er costs and ex nses secured thereb P P Pe Y• :t. If th~~ totel of th~ pa~-riirnts made b~- tl?e :~iortgagor under (a) of paragrapli 2 preceding shall exceed _ the iiinount of pa~-n~ents actuall~- ma~1e b~• t~e Nlorlgagee, as trustec, for ~round rents, taxes and assessments, °r;f and in:uran~~e pr~miunis, a.s the c~ase r.~a~ be. such e!ccess shall tx~ credited on sut~equeni payments to be made b}- tt~c~ ~fortga~or for su~h it~nis or, at ~tortgagee's option, ag trustee, shall be refunded to Mortgagor. If, ; hoH-~•.-er, su~h monthl~- pa~-m~nts shall not be suffi~ient to pa~• su~h items when the same shall become due _ and pa~-able, thPn the ~1nrtKagor shull pa}- to the ~tortgagee, as tn~stee, an~- amount necessar~ to make up th~ cl~fi~~ienc~-. tiuc}? pacn~ent shall be made~ w•ithin thirt~- (30) deys after wTilten notice from the Mortgagee st$ting the amount• of the deficienc~, a•hich notice may be given b mail. t~ y time the Mortgagor eh~ll aoc~ 22~ FMcE ~ I