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The Mortgagor hereby oover?ant,a wilh the Mortgagen~ lhst he is indefea~:ibl ~seSzed oi said Lnd in fee
aimple or such other eRtste~ J anY as is atsLed 6ereia; that he has (ull power and ls~ul rigbt to oouvev th9 same .
as afares~id; Uhat the l~?ad ~a iree ~rom sU encumbr~icee except as Lere~n otherwise recit,ed; that siaaid~4iortgagor
will make such furWer assurances to provo tho atoreBaid titiR to said laad in said Mor~gsgee ~s ma~ bs re~son-
ablyrequired, and that said Mortgagor ~oes hereby fuUp wu ~t who tle to aaid land, and ever~ part thereot.
and will defeud the aune ags?nst the lawful claims oi ~it perso mso~i~r•
PROYIDSD ALWAYB Lbat II LZ18 I~ZOT~igOr Sh~I ~iy 11IIti0 ~ MOtlgig~ WL~ O~[~in Pro~
whic6 the following is a subet~ntiol coPS, to wit: Fort Pierce ,~otids„
i 35, ~•00 ppril 18 .1~7k . '
e
FOR VALUt RBCiiYSD~ the uadersi~?dd Promi~e~e~ t° p~y t'°
J. T. ST~.WA~tT MORTG~IGT ~ANY, INC.
~ s~~tion or~anised and e~tina nnder t6e
~ the State of Florida ~ or order~ the principal aum of TfIIRTY-FIVE THOU~A~ID ~ID ~~1~
-----------------------------------------Dollara 35,000.00 witb interest trom dste st
the rste of EIQiT AND ONR HAIF P~r centum ( 82 P~ aanum on tbe unpaid balance nntil paid.
1'Le said principal and interESt shali be PaYable at the oS'ice of J. T. S~IART I~RT('~AGE OOMPANY~ INC•
100 MIRACLS MILE
ia OORAL GABLES ~ FIlJRIDA , or at such other plsoe as the holder msy desi~ste in wsitin6
delivered or mailed to the debtor, in monthly installments of Zi~10 HUPIDR~D SIXTY-NINE snd 15~10~o~1Lrs _
269.15 commencing on the first dsy of June , lffj4 , aud oontinwc~ on tLe
&rst day of each month thereafter until this note is fully paid, e~ccept thst, if not aooner paid, the final payment
of principel and intereat ahall be due and payable on the first dsy oi ~y ,2004 • _
privilege ia reserved to prepay a~ any time~ without premium or fee. the entire indebtedness or any Part
thereot aot less thm the unount o[ one installmeat, or one 6undred doUais (ii~•~). ~~~~t i° full =
shall be crrdited on t6e date received. Partiat prepayment, other thm on an installment due date, need aot be aedited unW ~
the next tollowing installment due date or t6irty days after snc6 prePaYmeDt, whichever is earlier. ~
If sny deficiency in the payment of any installment under thia note ia not mada good prior to the due date ~
of t6e neat auc6 installmenL, the entire principel sum and accrued interPat shaU at once beoome due and pay- Y
able without notice at the option of the holder of this note. Failure to ezercise t~his option shall not oonsvtute •
a waiver of the right to ezercise the same in the event of any subaequent defsul~ In the event of default in Lhe
a ment of t,his note and if the ssme is oollected by an attorney st law, the undersiSned hereby aBree(a) to
pay all costs of collection, including a reasonable sttorney's fee. _
This note ia secured by mortga~e of even date ezecuted by the undetsigned on oertsin property described ;
tberein and represents money actually used for the acquisition oi esid property or th~e imPi'ove,ments t~hPS~e°II- ;
>
PreBentment, protest, and notice are hereby waived. "
r
W ~.nnl ~nn [38AL]
- R'EX W. OOULSON
~s~Ayis M Coulson [sBnLl
AVIS M. aOULSOR
ts~l
[s~r?~.]
And shall duly~ pmmptly, and fully perform, discharge, execute, eSect, oomplete, snd oomply with and abide
by each and every the stipulations, agreements, conditions. and covenants of said prom~ory note and of this :
mortgage, then this mortgage and the estate hereby created shall cea9e and be null sud void.
The Mortgagor further covenants as follows:
1. That he will pay the indebtedness, as hereinbefore provided_ Privilege is reserve~ to prep~y at any time,
without premium or fee, the entire indebtedness or any part thereof not less than the amount of one instaWn~t, or j
one hundred dollars (i100.00), whichever is less. '
2_ In order n~orn fullr to prot~~c~t th~~ s~•c•urit~- of thi.~ n?ongar~•, the ~Iongagor, together w-ith, and in
addition to, th~~ ~nonthl~- pa~-nienis wuler tl?r tenns uf tLE• note s~~•ured ht~reh~-, on thr 6cst da~ o[ ~ach mont!?
until tl?e suid not~ is futlc puid, Nill pa~' to thr ~1ort~ar~~c~, as trustec~. (un~ler tlu~ tc~rn~s of thu trust a~ herein- -
aft~r ct~ted) the fuilo~~-in~ suu?s:
(a) A sum equal to the ground rents, if any, next due, plus the premiums that will neact beoome due and payable
on policies of fire and other hazard insurance covering the mortgaged propertY. P1us tsxes and as~n'ents
neut due on the mortgaged property (all as estimated by the ~tortgagee and of which the liortgagor is
notified) less all sums already paid t6erefor divided by the number of months to elap~e befare one month
prior to the date when such ground rents, premiums, taxes, and a~smeuts ~11 b~me delinquent~
such sums to be held by biortgageeintnisttopaysaidgroundrents,premiums,t~uces,andspecialassessmenta
(b) The aggregate of the amounts pa.yable pursuant to subparagrsph (s) and those payable on the note secured
hereby, shall be paid in a single payment each month, to be appLed to the follo~vii?g items in the order
atated
~ (I) ground rents, taxes, assessments, fire, and other hasard insurancx premiums;
~ (II) interest on the note secured hereby; and
~ (III) amortization of t6e principal of said note. ~
~ Any deficiency in the amount of such a~;m~ate montht~ pa~ ment shall, unless made good b~ the :~iort-
gagor prjor to the due date of the next suct~ pa~ment, const~tute an e~ent of default under this mortgage.
At Mortgagee's option, Mortvagor will pa~ a"IaLe ct~erge" not exceeding four per centum (4°Jo) of ant ~nstell-
` ment when paid more thaa ~fteen (15) days after the due date thereof to cover the extra expense ~n~ol~ed in
• handling delinquent pavments, but such "late charge" shall not be pa~able out of the proceeds of an~ sale
made to satisfy the ~nc~ebtedness secured hereby, uniess such proceeds are sufficient to d~scharge lhe entic~e
F;~ indebtedness and all proper costs and expenses secured thereby .
~ :3. If th~ total ot th~• p:~~-int•nts niu~l~~ h~- th~ ~torira~;or un~l~•r ta) of pt~ru~r:?ph pre~c~~dint shall escred
~ the ~u~~ount of pa~-m~ni•:u•tuall~- n~a+l~~ h~- th~• ~1ort~;~~~~•. as tru.tee~. f~?r ~:rowul r~•nts, taxe: and ~ses.~ments,
an~l insuran~•~ pr~~ii~iwi~~, as th~• ~•a:;~• i~~:i~~ix~. suc~l~ c•xcc~ss ~hul) tN~ ~redit~~~l on .uin~~yucnt pa~-meuts lo be made
b}- th~ ~lortga~;or for su~•h it~~ns or, ut ~i~rtga~c•~'s option, ~~.4 tru.te~•. :hall tx~ rnfuncled to ~lortga~or. If,
howc~v~>r, such nionti~l~- pu~-m~•nts slwll n~?t IK~ wffi~•i~~nt t~ pa~- ~u~~h it~ni, Khen tlie ~n?e shall become due
~ and pt?~-uble, then ihe ~i~~rt~u~;~~r •!?ull p:?~• to Ilu• ~lortka~?t•~•, us trustc~. un~- an~~unt ne~•~~r~ to make up
~ th~ defici~~ne~-. 5u<•h pa~-m~•nt :liull tx~ ~ua~lc w-ith~n tl?irt~- (:i0) da~~c aftpr ~-rittt~n noti~e (ro~n the ~tortgaRee
stating the amount of the deficien~~, which notice rnay'be gi~en bv mail. 1t at anp time the ~lortgagor ahsll
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