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Home My WebLink About1467 . ~ , . The Mortge~or 6ereby covenanta with the Mortgaget~~ that he ia indefegsibly scized oi said lsnd in !ee aimple or suc6 other eetatet ~t e?ny ss is stated herein; that he has tull power and lawiul rigiit Lo convev ~he snme as atnreaaid; t.hat We I~nd is free ~rom all encumbrauces e~ccept ss 6orein otherwise re~it,ed; l,hat aaid I~iortgagor will make aucL furLher assuronces to prove tha i?foresaid title to eaid 1~?nd in said Mortgagee us mey be reason- ab~yreq uired~ snd that said Mortgegor Joes hereby fully warraut the title to said land, snd every pa~t thereot~ and will defend the same ag:?inst the lawial claima oi all persona wl?ou~soever. Paovtusa AL~r~Ya thst it the riortgagor s6~?11 psy unto the Mortgagee that cect~in PromixeorY note, oi ~vhich t,be following is s sub~tantial opPS, to wit: = 2~~~.~ Fort Pierce , F7orida. ; April 11 , 19 74 • ~ FOR VALU= RSCEIVSD~ the unde~gi~ued Promise(8) P~'Y `O J. T. STE~WART MORTGAGE QOMPANY~ INC. ~ a corporation organir~ed and e~ostins under the laws of the State of Florida ~ or order~ the principal sun? of 7~TTY-Zir10 TH~USAND A~ID N~~l~ Dollars (i22, 000. 00 with interest from date st ~ the rste ot EIGHT APID ONE QUARTER P~ centum ( 8~ Per annum an the unpaid balance unt,il paid. The eaid principal and interest shall be P~?yable at the off'ice of J. T. ST~'WART I~ORTGAGT QOMPANY~ INC. _ _ ~ 100 MIRACI,E MILE ~ ~ ~p~p~, ~pBI,~~ ~ FIpgIDp ~ or at such other place as the holder may designate in'aritinB i delivered or mailed to the debtor, in monthly installmenta of ONE HUND~ SIXTY-FIVE and 44/10~o11ars (i 165.44 commencing on the first day of June , 19 7~+, and oontinuing on the firat dsy oi eacL month thereafter until this note is fully paid~ except that, if not sooner paid, the 2~~payment oi principal and interest shall be due and payable on the first dey of M,ay privi]eg~ is reserved to prepay at any time~ arithout premium or fee, the entire indebtedneas or any part thereo[ aot less than the amount ot oae instapment, or one hundred doUazs (=100.00), whichever is le~. Prepayraent in fup shall be credited on the date received. PaKial prepayment, other th~n on an instaUment due date, need not be credited unti! the next fdlowing irtstaliment due date or thjtty days atter such prepayment, whichever is eatiier. _ It sny deficiency in the payment oi any installment under this note is not made good prior to the due dste of tLe nezt such inatallment, the entire prtncipal sum and accrued interest ahall at once become due and ~ay- sble without notice at the option of the holder oi Lh~s note. Failure to exercise this option ahall not oonstatute s waiver of the right Lo exercise the same in the event oi sny sub~equent default. In the event of default in the payment of this note~ and if the same is collected by an attorney at law, the undersigned hereby agree(s) to pay all costa of collection, including a reasonsble attorney's fee. This note ia secured by mortgage of even dete executed by tLe underaigned on «~rrtain property described - therein and represeats money actually used for the acquisition oi said propesty or the impmvements thereon. Preaentment, protest, and notice are hereby waived. 1~ Jesse R. Grego~_ _ [gBAI,] JF~SE R. GRE(~ORY ~~Judy C. Gregorv [s~?L] , ^ JUDY C. GRE(~ORY ~ [s~+L] : i ; And shall duly, pmmptly, and fully periorm, discharge, execute, efl'ect, complete, and comply with and ab~ e ~ by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this ~ mortgage, then this morcgage and the estate hereby created shall ceage and be null and void. ~ The Mortgagor further covenants ss follows: ~ 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, ; without premium or fee, the entire indebtednea4 or any pert thereof not less Lhan the amount of one installment, or ~ one hundred dollars (i100.00), whichever is less. ~ 2. In order ~uom full~- to prot~~rt th~• s~~~•urit~- of ihis ~nort~a~~•, thc ~tort~?agnr, together with, and in ~ a~lilition to. the monthl~- pa~'n?t~nts und~~r ti?e 1~ rni. of the• not~~ s~~~•ured 1?t~reb~-. on 1hc• first lI8\" O~ P8CI1 IIlO11~I1 ~ until thc said not~• is full~• pai~l, ~~'ill pa~~ to ih~ ~Ion~;a~;c~e, a-s trusit•~~, (un~l~~r th~• t~•rnis of this trust s~~ herein- aft~~r statcd) tlu~ follo~~in~ .un~s: ,~r~-,~ (a) A sum equat 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 covering the mort,~aged property, plus taxes and assessments ~ neut due on the mortgaged pmperty (all as estimated by the Mortgagee and oi which the Mortgagor is ~ notified) less all sums already pa~d therefor divided by the number of months to elapse before one month prior to the date when such ground rents, premiums, taxes, and as.gessments will become delinquent~ a= such sums to be held by Mortgagee~ntrusttopaysaidgroundrents,premiums,taxes,andspecialsssessments. ~ (b) The aggregate of the amounts payuble pursuant to subparagraph (a) and those payable on the note secur ` hereby, shall be paid in a single payment each month, to be applied to the following items in the order ~ stated : (I) ground rents, taxes, assesgments, fire, and other hazard insurance premiums; (II) interest on the note secured hereby; and _ (III) amortiaation of the principal of said note. Any.deficiency in the amount of such a~~re~ate monthly pa~ment shall, unless made good by the Tior~ gagor pr~or to the due date ot the next sucL pa~•ment, const~tute an event of default under this mortgage. - At 11~iortgagee's option, Mort~agor will pa~• a"late char~e" not exceeding four per cent~m (4%) of any install- `4'~ ment when paid more than fifteen (15) days atter the due date thereof to covcr the extra expense in~ol~ed in Fhandling delinquent Payments, but such "late charge" shall not be payable out of the procecds of en~ salc ~ade to satisfy the mc~ebtedt?ess secured hereby, u~?less si~ct? prceeeds are suf6cicnt to discharge the entire indebtedness snd all proper costs anci expenses secured thereby. ~ 3. If th~ total of thi~ pi~~•~u~~nts nu~~l~• t?~- th~~ ~lort~;a~;or un~l~~r (u) of piir+?~:rupli 2 pr~c•edinr shall exceed thc~ a~uount nf pa~-nients u~•tuallr mii~l~~ h~' th~~ ~1ort~;u~?~•~~. .is irust~~~~, f~~r ~:roun~l rnnt~, tuxes and usst~~n~ents, and insuran~•~ pr~niiunis, us th~• ~•as~~ in:~;~•~b~~, such t~xc•ea~ shall bc• ~•re~lit~~~l c~n ~uln~queut pa~•~nents to be made b~• the ~1ortK:?kor for su~•h it~u~s ar, ut ~tortgu~?e~'s option, ~is tnistee•, sl?all b~• r~~funded to `1ort~agor. if, `r~ how~ver, sueh n~onthl~• pu~-n~ents :I~all n~~t la~ .ufli~•i~~nt to pu~- su~~h items w•hen th~ same shall become duc r;~~ and Rut•able, th~n the ~iortga~:~r .I~a?II ~?u~• lo th~• \lon~n~~~~•. as truste~•. an~- un~ount nrcessar~ to make up the cle~i~•ieuc~•. tiu~•h pa~•in~mt ,hall b~ niu~l~• w•ithin thirt}- (:i0) dn~•. uft~r K-rittt~n notic•t~ from t~~P ~lortgaf;ee _ stating the amount of th~ defici~nc~•, ~~I?ich notice may be gi~•en by mail. [f at any time the Mortgagor aball ~ ~ o ~ 226 r~E 146fi 600~f ~ -