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Home My WebLink About0325 The Mortgagor hereby, oovenant~ with the Mortgage~, th~~ 6e is indefe~aib~j seiaed oi said laad in fes imp1e or each other eststeR d aqy ~ i~ statod herein; Wat he has tull power and lawiul righti to oonvev the ssms as aioreeaid; tha0 W~e land u iree ~rom ~Il encumbranoes ezoep6 s~ hec~ein oW?ernise recited; th~t aaid~iostgag~oe will make suc6 fosther arsunr?oes to prove ~6s doraaid tit~ to ~aid laad in said Mortg~gee ws my bs re~~ ~j requie+ed, and Wat said Morig~got cbes Lareby i~ ~r~rna0 the wtis to said lsnd~ and ever~ par~ tl~sreot~ ~od will defend the at~me ~gainst the L~riul oLums oi ps~~on~ ~vbomsoever. P~eovmsa ALwwis tLat ii tLe Mortga~or a6all py nnt~o tbs Mortg~ges ths~ oerwia promie~oi7 note~ ot wLi = t~s'~o~ ~ is a substanUal ooPl, t~ wi~ - 2tS 4 Fort Pierce , M~y 3 .19 74. Fae vwLUS RscsnrsD, t6e u~?der~ed W'~miae(s) to Py' tO J. T. STBWAItT 1~~G$ C~OHII'ANY~ INC. ~ s oorporstion ~:.-aenised and e~oetina under tbs V~ ~ the State oY Florida , oe order, tbe ptiaaiPal eum ot'1T~i~lTY'~I(~' T~U5JIND FO~t HUN- DRSD FIFTY and ---------------------~~1Q~llara (i 28~ 450.00 with interest froan d~te at tLe nts of BIC~ AND ONS HAIF per centum PBT aanum on the unpsid balance until paid. Tbe s~id pcincipal aad interest shari be p.yable sc the o~ce of J. T. 3TIsWART I~RT~'~AiG$ OOMPANY, iNC. 100 1~IIRACLB I~IIIL - OORAL~ GABLF.S ~ FID~DA ~ WRAL GAB~LBS ~ FIAItIDiA , or at such other pLoe sa tbe hdder may ia writing ddivered ar mailed to the debtor, in monthly inatallmenta of '1410 H[A~IDR~ EIQ~II'~i and~00- Dollars (i 218.'T8 ~ ~m~~ an the fi~et day of June , 19 7~, aad oontinuin~ oa t6e d ezoe t that, ii not sooner paid, the final~ymenti so firati d~?y, oi eacL month thereafter until thia note ia fully Pu~ ~ P ~ ~ prin~pal aad int,erest ehaU be due and p~yable on the Srst day oi 1~+1aY priviie~e is reeerved to prepsy st any t~ime~ witiwut premium or fee. the entire indebtedner or any Part thereoi not le~t thm t6e aaaunt oi ane initaUd~ent, or one hun~red doWes (~100.00), wtichever i~ les~. Irep~yaMat ia fuU d~all be credlted on the date received. Partial prep~ymeat, ot6a~ than on m h~tallaient dne date, need not be aedited uot~l the nezt fo8owio~ indaltaneat due date or thirty dsys att~r snch prepayment, w6lcbe*et i~ e~rliat. Ii sn~ deficiency in the ps t of any installment under tbis note is not made good prior to the due dats of t~1?e nezL such i~tallment, . e entire principal sum and aocrued inter~st ahall ~ti onc~e beoome due aad ps7 able ~vithout notic~e at tLe optwn of the holder of tbia note. Failure to ezercise thia optioa shall ~t oonstatute s Aaiver of the righti to ezerciee d?e same in ths event oi any subeequent defaul~ Ia the evanti oi deta~ilt in t6e WY~ent of t~his note, and if t6e s~?me is oollected by sa stitorne~ st La, the nndeisigned herebY agree(s) to P~Y aIl oosts of ooIIection, including a reasonaWe ~ttorney's fee. ~a note is eecured by n~~~age of even dste ezecuted by the undereigned on oertain property deecribed therein and repreeents money a,ctuslly used for the aoquisition of ssid proper~y or tLe improvementa thsreon. pt+eeentment, protest, and notice are hereby waived. /s Jsmes Arthur Smith III ~g~,~ ~ilTf~; ~ NNA JBAN SMITH [s~?LJ [~l I! dorm, discharge, e~cecute~ eSect, oomplete, sud comply with and abide And shall duly, promptly, sad fully pe ~ by esch an~ every the stipulationa, agreementa, oonditions, sud covenants of snid promieaory note and of thia i mortgagP., then thia mortgx~e aad the eatate hereby created shall cease sud be null aad void. ~ The Mortg,agor further oovenant"s sa follows: 1. That he will pay tbe indebtedness, as hereinbefore Pthereof n pless ban the amount~~ ~~installment,nor without pr~mium or fee. the eatire indebtedness or anY P~ one hundred doUars (i100.00), whichever is less. 2. In order more (ull~ to protect the securit}' of this mortgage, the Morigagor, together with, and in addition to, the monthl~- pa~•ments under the terms of the note secured herebt, on the first da~ of each month until the said not~ is fu~ly paid, will pay to the 11~lortgagee, as trustee, (under the terms of this trust as herein- aiter stated) the follov?ing swns: (a) A aum equal to the ground rents, if any, next due, plus the premiums that will next ~~dand~s~ment~s ~ policies d fire sad other hasard insurauce covermg the mortBaB~ P~P~Y. P next due oa the mortgaged property (all sa estimsted bY the Mortgagee and of which the Mortgagor is notified) lesa all sume slready P~id theidor divided by the number of montha to elapee before one month prior to the dste whe.n such g~+ound reuta, premiuma, taaes, and aseessmente will become delinquent, such sums to be held by Mortgageeintnisttopayeaidgroundrents~premiums,taues,andspecialass~sments. (b) The ag~gate of the amounts pa able pursuant to aubparagraph (e) and thoeepayable on the note secured hereby, shall be paid in a~ PaYmeat each month, to be appLed to the following items in the order stated: (n ~nd ~,a,cea, a~semes?te. fire, and other ha:ard insurance premiuma; ~ (In iaterest on the note eecured hereby; sud (IIn amorti~?tio~ of the principal of said note. Any deficiency in the amount of suc6 aggregate mont6ly payment shall~ unlesa made good by the Mor~ ~ gagor pr~or Lo the due dste o[ the next such payment, const~tute an event of default under this mortgage. At Mortgsgee's option, Mortgagor will pay a"late cl~arge" not exceeding four per centum (4%) of any install- ~ ment when psid more than fitLeEn (15) days after the due date thereof to cover the extra expense involved in handling delinquen6 psymente, but such "lste chsrge" ahail not be psysble out of the proceeds of eny sale made to satisfy the mdebtedness secured hereby, unless such proceeds are su~cient to discharge the entire indebt,edness and t?ll pmper costa and expenses secured thereby. 3. If the total of tLe pa~•n~ents mad~ b~ the ?~'Iorigugor under (a) of puragrupl? 2 precedin~ sLall exceed the a~nount of pa}~ments actuull~ n?ade b~• t~ie :1lorlgay,ee, as trustee, for grouncl rents, taxes and as.gessments, and insurance premiums, as the case ma~= be, such excesa shall be credited on subseyuent pa~ ments to be made by the Mortgagor for such items or. at Mortgagee's option, as trustee, shall be refunded to Mortgagor. If, however, such monthl~ pa~•ments shall not 1~ suffirient to pa~ such iten~s when the same shall become due and payable, then thc :~iortgagor s}~all pu}• to tLe Mortgagee, a.s trustee, un~• an~ount necessarv to make up the deficienc~. Such pa~ment shall be made within'tl?irty (:;0) da~~s after w-ritten notice from tl~e Mortgagee ststing the amount of the deficiency, wl~ich notice may be given by mail. If at any Lime the Mortgagor ehall aooK ~7 ~ac~ 324 _ .