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Home My WebLink About0302 ~a The 1?Sortgagor bereby oove.t?ants with the Mortgagee, tLat he is indefe~xibl se~zed oi said land in fes ~imple or such ot6er estate~ J sn~ ea is etsted herein; that he haa tull power snd ls ul right to oonvev the ssme ua sioresaid; that the le?nd ia ire~ ~rom sll encumbrances escept ~a hesoin ofi~hetwise recited; that asid~Viortgagor will malce auch furiher assuranoee to prove the uforeeaid title to s~id land in said Mortg~gee ~a mny be re+~eon- ab~yrequired, snd that said Mortgagor does hereby fully wursnti t6e title ta wid land, and every p~r6 thereoi, ~ad will defend the oame againati Lhe lswiul claims ot all pereona ~vLoinsoever. Pnovinxu AL~v~Ye tLat ii the ll~iortgegoc ah~ll pay unto tLe Mortgagoe t~?ti oertain promieoory note, oi which tbaiollowiug ie a subst~nt,ial ooPy, t~o wi~: i 23,900.00 Stuart March 19 , i~74 • Fon ViLVS Rscsma, tbs u~iecei~aed promiee(a) tio pyr to SOUTHERN MORTGAGE ASSOCIATES, INC. , authorized to do business in the State of Florida , a eorporstivn a~,sntsed wd ~n6 u~er ths L?ws ot the State of Arkansas , a a~der, tbe p~inapal aun ot TWENTY THR~E THOUSAND NINE Ht1NORED AND NO/100------------------------ Ddlars (i 23,900.00 witL interest from date at the r.te af Eight b one-fourth per ceatum (8.25 pee ananm an tbe unpaid b~Laoe unt+l p~id. Tbe ~aid principal and intenst sLall be psysble A! the o8'ioe ot Southern Mortgage Associates, Inc. , - 1999 S.W. 27th Avenue ia Mi ami , F1 ori da , or at wch other ple~oe ~+s tbe holdez may designste in writin~ delivered or mailed to the debtor, in monthly instauments ofOne Hundred Seventy Ni ne & 73/100Dollare (i 179. 73 commencing on the first daq of Mdy , 19~74 , aad. oontinuina on tbe 8rat day of each month thereafter until t~is note is fully psid, eaoept tbst, if not sooner paid, the final p~ayment oi principal and interest shall be due and payable on Lhe Sret dsy of Apri 1 , 2004 privil'ege is reserved to prepay st any time, witliout pr8mium or fee tLe entire indebtednees or~anp past tLereof not le~ than the amount of one uistallment, or one hundred dol~ars (i100.00), ~?hichever ie lee+s. If any deficiency in the paym ent of any installment under this nots is not made good prior to the due dste of the next such installment, t,he entire principal eum and accrued interest shall at onoe beoome due and ~sy- sble without notioe at the option of the holder of this note. Failure to eaercise this option shall not eonstttute s wraiver of the right to ~ercise the same in the event of any subeequent defaul~. In the event of detault ia t,6e psyment of this note, and if the same ia collected by an sttorney st lt~v, Lhe undere~igned hareby sgree(s) to psy all ooeta of oollection~ including a reasonable attorney'e fee. . ~ This note is oecured by mortga~e of even dste~ executed by the undersigned on oerta~n property deecn'bed therein and repreeente money actuaU,y ueed for Lhe aoquisition of aaid propert,Y or t~ improvamenis t~raon. preeentment, protest. and not~ice are Lereby ~v~ived. /s/ KARL T. TOMICA, JR. L~?y1 /s/ THERESA TOMICA [~1 And shall dulY, P~P~Y, and tully pertorm, discharge, execute, ~ect, eompkte, and- eomply with and abide ~ by a~ch a~nd every the stapulationa, agree,me.~ts, oonditiona, snd oovenaut8 of - eaid pmmiasory aots and af this ~ mo*tgsge, thea this mortgsge and the eat,ste hereby creeted ~hall oeaee and be null aad void. , The Mortgagor further oovenaata as follows: I 1. ZUat he ~villpay the indebtednesa, as hereinbefore provided. Privilege is reeetved to P~Y ~~Y t~, ' without prem~ium or fee, the eatire indebtednees or any p~t thereof noti lees than the amount of ane installment, or one hundred dollsra f i100.00), ~vhichever is lees. 2. In order more fully to protect the accurit.v of thia mortgage,' the Morigagor, together wnth, and in ulclition to, the monthl~ pa3TnentB under the terms of the note secured hereby, on the first day of each_month until the said note is full~• paid, will pay to the Mortgagee, as trustee, (under the terma of this trus6 as herein- aftcr stated) the following sums: (s) ? sum equal to the ground renta, if any, next due, pIus the premiums that w~l ne:t beoome due aad payable an policiee of fire and other hasard inaurance oovermg tbe mortB~ P~P~Y. Plua taues and aseessmenta neat due on the mortgsged property (all ~a eatimated by tbe Mortgagee snd of which the Mortgagor is notified) leea all eums alreai paid tberefor divided by the number of mantha to elup~e before one month prior to tLe date ~vheu w~ ~round rmte, premium0. tauces, aad aeeeesments ~vill tieoome delinquent, such eume to be held by Mortg~geeintrusttopayes~dgroundreate,P~~,~~,~dspecia?laeeea~nents. (b) T6e agg~'e6ate d the amounte pe able pureuunt to aubparagraph (s) ~d thoeep syable on t6e note eecured L~ereb r, ~h~11 be pe~d ia s ang~e PsYmmt euch mont6, to be ~?ppLed W the follo~ items m the ordee : m a~na reate, ta~c~a ~eeeementa, 5ra ,~aa a~Ler L~a~ua i~n~oe premi~me; (II) intereet on fhe note secund benby; and (IIn amortisation af the principal of ~aid note. Any.deScieney in the unount of such~gg~ga te monthly ~?yment d~aD, nnlees made ~ood by the Mor~ ~agor pnor to the due date of the next suchpa yment, const~tute aa event of defsult under thia mortgage. ~ At Mortgagee'a option, Mortgsgor w?ill pay s"lste charge" not exc~eediAg four per eentum (4 ~Ja) of any install- ment when psid more than fifteen (15) dsya aiter the due date thereof t~ oover tLe extra e~cpense inpolved in ~ Landling delinquent ~symente, but auch "iste eharge" shsll not be psyable out oi the pmceeda oi sny sale made to satiafy the wdebtednees ieeured hereby, unlees such proceeds are su8'icient to d~echarge the entiro = indebtednees and all proper c~ata and expenses eecured iheroby. ~ 3. If the totsl of tl?e psyinenta macle by~ the Mortgagor under (a) of psragrspli 2 preceding atiall exceed ~ the amount o[ pa~ ments actually niade b~ the Mottgsgee, as tnistee, for ground renta, taue~ snd assesaments, ~ snd insurance premiums, as the caee may be, euch eacesa sLall be credited on subsequent payments to be made b~ tl~e Mortgagor !or euch itema or, ~at Mortgagee'a option, as ttustee, shall be refunded w Mortgngor. If, however, sueh monthls~ pavmenta ahsll not be su8'icient to pss such itema ~vhen the swne shsll become due ~ swd pa-able, then the Morigagor s)iall pap to the Mortgagee, as trnstee, any smount neceasary to make up thP d~ciener. Such pa~-ment a1~a11 be msde ~vithin thuty (30) da,va sf~er written ~iotice from tha Mortgsgee statmg tLe amount of tha de~fiaea4ay, wLicL notice muy be gi~ea by muil. Ii at ~uny time the Mortgsgor.ahall ~ e~~~ ~ ~ .u . _ . . _ " . . ~ . . ~::~:a~ ~ : . ~ ~'~~is" .~:w ~ , - ~ " Y ~~~~r ' ~ ' _ . " ~ _ _ _