HomeMy WebLinkAbout0996 The Mortgagor hereby covenanis with the Mort~;a~c~, thet he ia inde[ea~ibly sPUed oi said lend in fee
eimple or auch other eBtate~ J any ea ie at~ted herein; that he haa iull power and lawtul right to oouvev the same
~e ~toresaid; that the laad is iree ~rom all eacumbrances e~ccept as here~n oLherwise recited; thet aaid~Vlortgagor
~vill make such further +?ssuronues to Pmve the afores~id title to eaid tand in said Mortgagee aa mey be reaeon-
•blyrequired, snd Lh`L awid Mortgagor does hereby fullp warrsnt the title b said land~ snd every psrt thereof~
and will defend the same ag~?iast the lawful cl8ims of all perBOnB w6onnAOever.
Paovtnsn ALw~Ye thst ii the ~lioctgogor a6all pay unto the Mortgagee th~t certain PromiseorY note~ oi
which the Wllowiag is • subatantial coPf~ to wi6: Fort Pierce , Florid~.
i 24, 000. 00 April 16 , 1974 .
FOR VALUE RBCEIYSD~ the under~ed promise(8) to P~?Y t~o
J. T. STE1'IART MOR7.'GAG~ O~MPANY ~ INC.
. s corporation organised and e~osting under We
the State of Florid~, or order, the principal sum of ZwENTY-FOUR THOUSAND AND N0~100
-----------------------------------------Dollars (i 24,000.00 with inter~st from date st
~e ~~;IG~ pND pI~II'y NpI,F per centum (&2 per annum on the unpaid balance until paid.
T6e said principal aad interest shaU be PaYable at the office of J. T. STEWAKr MORTf~GE OOMPANY, INC•
100 MIRACI,E MII~
~ QORpL GABLES ~ F'IlJRIDA , or at such other plsoe as the holder msy designate in writing :
delivered or mailed to the debtor, in monthly installmenta ot ONS HUNDRID TIGHTY-FOUR and 5fi~lQ~ullars i
lgl~ commencing on the first day of June ~ 19 74 , and continuing on the
fuat d~?y of each month thereafter until this note is tully paid~ except that~ if not sooner paid, t~he final payment
of princ,~pa1 and interest ahall be due and payable on the first day of May ~ 2~0'+ -
privi]ege is reserved to prepay st any time~ without premium or fee, the entire indebtedaees or any psrt
tt?ereot aot less than the unouat o[ oae installment, or one hundred dollars (a100•00), wluchever is less. Prepaymrat in tull
shall be credited on the date rece~ved. Putial prepaYment, other than on an installment due date, need not be credited until
We next fdlowing iastallmeat due date or tAirty days atter such prepayment, whic6ever is earlier. ~
If any deficiency in the paym
ent of any installment under this note is not made good prior to the due date ;
of the neat such inatallment, the entire pruicipal sum and accrued intereat shall at once become due snd Fay- ?
able without notice at the option of the holder of th~s note. Failure to exercise this option shall not oonst~tute ~
s waiver of the right to easrcise the same in the event of any subsequent defsult. In the event of ~efa~~( ;
he ;
payment of this note, and if the same ie collected by an attorney st law, tbe undersigned hereb a to
pay all coate of collection~ including a reasoneble ettorney s fee.
This note ia secured by mortgag_e of even date executed by tLe undersigned on certain property described
therein and representa money actuslly used for Lhe acquisition of said pmperty or the impmvemente thereon. _
Preaentment, protest, and notice are hereby waived.
~ Larr~ Gene Benson _ [sBAt.]
. IARRY GENE BIIdSON ~
~ ,~Sanr3ra F_ S~nson [SEALj ~
SANDRA F. BENSON
_ a
~
(s~r?L~ a
And shall duly, promptly, and fully perform, discharge, execute, effect, complete, and comply with and abide _
by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this :
mortgage, then this mortgage and the estate hereby created shall ce.a~e and be null and void. `
The Mortgagor further oovenants as follows: _
1. That he will pay the indebtedness, as hereinbefore provided. Privilege is c~eserved to prepaY at any time,
without premium or fee~ the entire indebtedness or any part thereof not less than the amount of one installment, or _
one hundred dollars (i100.00), whichever is less.
2. In arder mor~• full~' to protcc~t the s~•~•urit~- of thi.~ niort~?a~e, th~• ~fortKa~or, together with, and in :
a~l~lition to, th~ ~nonthl~~ pa~'n~ents under ihr ternis o( the~ note se~~•ured 1?c~reL~•, on th~• first cia~- o( ~ach month z
until ih~ said not~• is (ull~• pai~l, Nill pn~- to th~ ~tortKa~;ee, n.ti tru.,te~~, (und~~r thc~ ternis of ihis irust ~?s herein-
aher stated) the fulloHi~i~ su~ns:
~a) A sum equal to the ground rents, if any, next due~ plus the premiums that will next become due and payable
on policies of fire and other hazard insurance covenng the mort.~aged property, plus taxes and assessments
next due on the mortgaged property (all ss estimatecl by the Mortgagee and of which the ~tortgagor is ~
notified) less all sums already paid therefor divided by the number of months to elapse before one month
prior to the date when such ground reats, premiums, taxes, and assessments will become delinquent~
such sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taxes,a.ndspecialassessments.
(b) The aggregate of the amounts payuble pursuant to subparagraph (a) and those payable on the note secured ;
hereby, shall be paid in a single payment each month, to be appLed to t6e following items in the order ;
stated `
(I) ground rents, taaes, assessmente, fite, and other 6azard insurance premiuma; ~
(II) interest on the note secured hereby; and .
,
(III) amortization of the principal of said note. ;
My deficiency in the amount of such a{;gre~aie monthly payment shall, unless made good by the Mort- _
gagor prjor to the due date o[ the next su~h pa~-ment, constitute an event of default under this mortgage.
At Mortgagee's option, Mortoagor will pa} a"late cl~arge" not e~ceeding four per centum (4%) of an~~ install-
ment when psid more Lhan fi'fteen (15) days after Lhe due date thereof to cover the extra expense in~olved in
handling delinquent pavments, but such "late charge" shall not be payable out o[ the proceeds of any sale
macie to satisfy the ~nc~ebtedness secured hereby, unless sucli proceeds are sufficiei?t to discharge the entire
indebtedness and all proper costs and expenses secured thereby.
:3. If tlu~ t~tal of ih~~ pa)•~iu~nts inad~~ b~- tl~~ ~[ort~;u~;or un~le~r lu) ~?f puru~;ruph 2 prec•~din~; si?all exceed
the un?ount of pa~-m~nt~ ac•tuull~- n?u~lc~ h~- itu~ ~iort~;u};~•~~. as irust~~~•. f~?r ~munil r~~nts. tuxes fln~l ~ses.cmenis,
and insuraui•~• pre~n~iw~~,, as th~~ ~•xs~• nu?~• hc•. ~uc•h ~•xe~:~ sliall be c•r~~dit~~~l on suln~~yu~nt pa}'Inenls to be nlsde
b~• th~ ~lortgu~;or for su~-h iten~s or, ut~ ~tortga~?ee's option, ~~s irusice~, shall bc~ r~~fun~ied to `tortgagor. Tf,
1wHCVer, such monthl~• pa~~nients sliuli n~~t• h~~ .ufli~•ic~nt t~ pa~• .u~~h it~•~ns w•h~n thc~ same shall l~come due
ancl pa~•able, then the ~Iort~;u}~or sh:~ll ~~a~• to ih~~ ~tortga~?~•~•. a. trust~~~•. :u~~- a~i?c?unt ne~~~a,ar~' to make up
tli~ cle~ieiene~•. tiuc•h pa~-~nemt shall be ~uu~le• w•itl?in thirt}' (:t0i da~•, :~fter ~crittt~n noii~•e fro~n t}ie :~'iortgegee
stating the amount of the deficienc~•, which not~c ~rna r be gi~'en bp maiL If at any time the Mortgagor ahall
_ - BOCK~~~ FAGE i:fijJ
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