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Home My WebLink About2031 The Mortgagor hereby coveasnta with the Mortgag~?~ t6at he is indefeaRibly seized oi said luid in tee eimple or auch othar estatea ~f sny as is atwted herein; thet he hsa tull power snd lawful right to convev the aAme ~a afaresaid; that the land ~a iree ~mm ell encumbrances ezcept se herein otherwise recited; that eaid~Vtortgsgor will make such further aeeursnoee to pmve the aforesaid title to said [end in ee~id Mortgagee as may be reaeon_ ablyrequire~d, ana tha~ said Mortgagor doee hereby i~ wunat the title to said land, and eve~? p~,r~ thereo{, and will defend the same against the lawful claims oi pereons ~vbomsoever. Pttoviagn ALwwYe thst ii the 14iortgagor ahall pay unto t,he Morigagee that oertain promieeory note~ oi which the foUowing is s subatantii?l ooPS, i 27,500.00 Fort Pierce, , Florida February lst, . 19 74 . Foa VwLVS Rscsivsu, t~ undereig~ned promiee(e) to psy to STOCKION, WHATLEY, DAVIN b COI~ANY la~ve of ~ s oorporatioa organised aad e~oefana ~ader the State of Florida , or order~ the priacipal eum of ~_SEVEN THOt1SAND b FIOB HUNDRED b NO/I00- - - - - - - - - - - - -Ddlare (i27,500.Q0- - with intereat fmm date at ~e m~ ~ Eight & Oae Q~arter p~er oentum ( g i%Q~'o) per ,aanunn on tt,e unp~aid balance until paid. The said principal and intereeR shall be psyable at t6e office of Stockton, Whatley, Davin ~ Company 100 West Bt~y Street, • in Jacksonville, Florida 32202 , or at such other plsce aa tl~ 6dder may deeignste in writing delivered or mailed to the debtor, in monthly iastallmenta of 1~Tp HUNDItgp AND gIR ~ 80/100- --Dollars (i 206. 80- commencing on the first dey of March , 19 74 , and oontinuing on the firat day of each month thereafter until this note is fully paid~ except thst, if not eooner paid, the final payment of princapal and intere~t ahall be due and paysble on the firat day of J~~ , rq 2004 , Privilege ia reserved to prepay at an~ time, without premium or fee the ent~re indebtedneee or any part thereof not less than the amount of one u~atallment, or one hundred dol~are (i100.00), whichever is less. If any deficiency in the payment of any inatallment under this note is not made good prior to tLe due d,a~e of the neat such instaltment, the entire principsl sum and accrued inte~t shall at once beoome due end psy- able withouti notice at the option of the holder of tbia note. Failur8 to eaemase thia option ahall not oonsfiatute a waiver of tLe right to eaem.iae the same in the event of any subeequent defaul~ In the event of default in the payment of this note, and if the same ie oolleef~ed by an attorney st Iaw, the unders,igned hereby agree(8) to pay all costs of c.ollection, including a reasonable attorney's fee. This note is secured by mortga~e of ecen dnte eaecuted by the under~gned on c~ertain pmpetty described therein and represents money actiually use~ for the acquisition of aaid property or the unprovementa thereon. r Preaentment, protesL, and notice are hereby waived. ` = _ti . . l~ 1 _~h..~ ,.1 _ . ' - DANt~Y LYNN Mc~I~iNIS I~L] - ~ ~~C.;~ . /b~ ~ ~ ~ f c ) ~.SSAL~ - D. McGINNIS [~?Ll And shall duly, promptly, and fully perform, discharge, execute~ effect, complete, sad comply wit6 and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of Lhis mortgage, then this mortgsge and the estate herEby creeted aball oease sad be null and void. The Mortgagor fw~,her covenauts as follows: 1. That he will pay the indebtedneas, sa hereinbefore provided. Privilege is re~erved to prepay at say time, without premium or fee, the entire indebtedneea or any part thereof not less than the amount of one installment, or one hundred dollars (i100.00), wluchever ia less. 2. in order more fall~ to protect. the securit3 .of this mortgage, the 1~lortga~;or, together with, and in addition to, the monthl~ pa~-rnents under the ternis of the note secured hereb~~, on the first day of each month until the said note is full~ paid, v~ill pay to the ~iortgagee, as trustee, (under the ternLS of this trust as herein- after stated) t6e folloaing sums: (a) A sum equsi to the ground rents, if any, next due, plus the premiums that will next be~ome due and payable ' on policies of fi~+e and other hassrd insurance oovering the mortgaged property, plus taxes and ag.sessments ' next due an the mortgaged property (all as estimated by the Mortgagee and of which the Mortgsgor is notified) less a11 sums already paid ther~for divided by the number of months to elapse befo~+e one month prior to the date when such ground rents, premiums, taxes, and a~sessments will become delinquent, such sums to be held by Mortgagceintrusttopaysaidgroundrents,premiuros,taxes~andspecialassessments. (b) The aggregate of ti~e amounts payable pursuBnt to gubparagraph (a) and those psyable on the note secured hereby, ahall be paid in a siagle payment each month, to be applied to the following itema in the order stated : (I) Bc'ound reata, taxes, assesaments~ fire, snd other haa~rd insurance premiums; (II) interest on the note eecured hereby; and (III) amortisation of the principal of aaid note. Any deficiency in the amount ot suchaggregste monthly payment shsll, unless made good by the Mort- gagor prior to the due dste of the next such pavment, const~tuts an event of default, under this mortgage. At Mortgagee's option, Mortgagor will pay a"late chsrge" not exceeding four per centum (4°Jo) of any inst$11- ment Hhen paid more than Sfteen (15) days after the due date thereof to caver the extra expense involved in handling delinquent ~symenta, but such "late charge" shall not be paqable out of the proceeds of any snle made to satisfy the indebtedness secured hereby~ unless such proceeds are eufficient to d~scharge the entire indebtedness and aA proper costs end expenses secuted Lhereby. ~ 3. I( the tot81 of the pa~-ri~ents made b~• the liortgagor under (a) of paragraph 2 preceding shall exceed the amount of pa~•~nents actuall~- made b~ t~~e :~fortgagee, as trustee, for ground tents, taxes and assess~~ients, and insurance premiums, a~ the case ma~ be, such excess shall be credited on subsequent pa~•inents to'be made b~- the ~fortgagor for such items or, at Mortgagee's option, as trustee, shall be refunded to Mortgagor, 1f, however, such monthl~- pa~ments shal! not be sufTicient to pa~ such items when the same shall become due and pa~•able, then theV ~iortgagor shall par to the Mortgagee, as trustee, an~ amount necessarv to make up the de~icienc~. Suc}? pa}•ment sl~all be made within thiri;v (30) da~•s after written notice from the Mortgagee stating the air?ount of the deficiency, which notice may be given by mail. If at any time the Mortgagor ahall :;r_ ~ ~23 F,,r,E 2Q~~