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Home My WebLink About2577 . w TLe Mortgagor hereby ooven~nts with tbe MortgsgeP~ thet he is indetewRibl seizad oi said Lnd in fee omp1e or such other estate~ ~f sny as is st~ted heraia; tho6 he has tull power ~nd la ul right Lo oonvov the sama as aioreeaid; thsi tha lu?d ~s iree ~rom all encumb~aaoes eucept us herein otherwise reciLe~i; that eaid~iortgagror will m~ke such fur~her ~ssurvnoes to pro~e We aforeeaid wtle to said land in said Mortgagee ~a may be re~eon- ~ sb req uired, and t~lut said Mortgs~g~oc does hereby i~ ~rarranti the ti~le to said land, aad every parL thereot~ ~wilt defend the eame ~g~inati tLe la~viul clsims oi persons whomsoever. PAOYIDSD AL~r~YS tlee?t it tha Moctgagor ehaU Wk1 unto t~s Mort6agee thst oeTtai° pi'°mu+e°r9 p°t°~ oi which t6e iolbwing is a substwtial ooPS~ to wi~: ~2~ pp Fort Pierce , Mq~? 23, , ~9 74 . Foa Vwi.vs RscsnrsD. tbe undere~ed proo~?~ee(s) to PaY ~ J. T. ST~FTART 1~+pR'1'GAGR f70MPANY~ INC. , s oorporstioa orrs,saniaed And e~ostina under the y~~ ~ the State of Florida ~ or order. the priacipal aum ot'TfIIRTY R~A TfDUSAPID Tf~A HUNDR~ A1~ID NO/100---------------------------- Dollars (i 32, 200. 00 with interes~ from date st the rsts of EIC~ & TIiRLB QUiRRTS~iS Per oentum 8 3~4%) P~ ~?nnum oa the unp~id beJsnoe until paid. 'The said principal aad interest eball be psyable at the office of J. T. STEWART MORTGAGS OOMPANY~ INC. 100 I~RACLB I~+III~ ia ~ORAL GABI~S ~ FIARIDA ~ or at such other pleee aa the holder may deaigaste in ~vriting deliverad or msiled to t6e debtor, in monthly installments of q+qp gLJNDREp I~'IFl'Y THREE & 41f 100 (i253.41 commencing on the first day of July , 1974 ,~d oontu?uing on the firat day oi each month thereaf ter until tLis note ia fully paid, esoept that~ it not sooner paid, the Snsl psyment o~ p~inc~pal and interest, ahsU be due and paysble on the first dsy oi June ~~4 • priyil,e~e ia reserved to prepsy st any time~ vvithout premium or fee. We entire indebtednees or any part thereot aot lesc thm We aawunt ot one installment, or one hun~ed doW~s (il~.~). ~che~rer is less. Prepaymeat ia full s6a11 be credited oa t6e date received. Partial piepaymeat, other t6an on aa tostallment due date, aeed not be cmdited until the ne=t fdlowia~ instdlraent due date or thlcty days atter such pzepaYment. whichever is earller. If any deficiency in the paym ent of aay instsllraen~ under thia note is not made good prior to the due date of t6e nezt such inatsllment~ the entire princiPal eum a°d acc~'"ed ~nt~er~ti ~ at once beoome due and Fsy- sble wiLhout notice at the option of t6e holder of this note. Failure to exercise this option ahall not oonstatute s waiver ot the righ~ i~c~ esen',ise the asme in the event oi any subeequent defaul~ In the event of ~efa~~~ j 6e psyment of thia note~ and if the esme is oollected by an sttorney st lsw, the undersigned hereb s to psy all oosts ot oollection, including a reasonsble attorney a fee. This note ia secured by mortga~e of even dste eaecuted by the undersigned on oertain pmpertY described tLerein snd representa money actually used for the acquisition oi esid property or the impmveonenta the~reon. ; Preeentment, protest~ snd notice are hereby waived. ~s~Norman L. Tdilloua1312Y - ~s~?LJ Noxman E. Willoughby ~s~Jot m. Wt i i o~g~y [s~,] Joan T. Willoughby ~ - ~ [sg~,l ~ ~ And shall duly, promptly, and fully perform, discharge, execute, eH~;t, ~mplete, and comply with and abide ~ by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this r murtgage, then this mortgage and the estate hereby created shall cea~e and be null and void. The Mortgagor further covenants as follows: 1. That he will pay the indebtednc9s, as bereinbefore provided. Privilege is reserved 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 order more full~• to protect the securit~- of this mortguge, the .Ltortga~or, togethrr wit}?, and in addition to, the monthl~- paJ•iiienis under th~ ter~ns of tLe note sec•ured h~•reb~-, on th~~ first da~- of ~ach montl? until the saicl notc is full~ paid, Kill pa~• to the viort~agee, ~s ttv.gtee, (under th~~ t~•ru?s o[ tl?u trust ~S herein- aft.er statecl) t}~e following su~ns: (s) A sum equal to the ground rei?ts~ if any, next due, plus the premiums that wiil next became due and payable on policiea of fire aud other basard insursnce covering the mortgaged property, plus taxes and assessments neut due on the mortgaged property (a11 ss eatimated by the Mortgagee and of which the biortgagor is notified) lesa all sums aiready paid therefor divided by the number of months to elapse before one month prior to the date when such ground rents, premiums, taxes, and assessments will become delinquent, sueh sums to be held by Mortgageemtrusttopaysaidgroundrents,premiums,taxes,andspecialassessments. (b) The aggregate of the amounts Payable pursuant to subparagraph o..~l tho~e payable on the note secured hereby, ahall be paid in a~ngle payment each mon~h, to be appLed to the following items in the order . atated: ~ (I) ground rents, taues, sssessmenta, fire, and other hasard insurance premiums; (II) intereat on the note secured hereby; and (IIn amortization of the principal of said note. Any deficiency in the amount of such aggre~ate monthly payment shall, unless made good by the MorU gagor pr~or to the due dste of the next sueh payment, const~tute an event of default under this mortgage. ~ At Mortgagee's option, Mortvagor will pay a"late cl~arge" not exceeding four per centum (4%) of any install- ~ ment when paid more than ~'fteen (15) days after the due date thereof to cover the extra expense involved in ' haadiing delinquent payments, but such "late charge" shall not be payable out of the proceeds of any ssle ~ made to satisfy the mdebtedness secured hereby, utiless such proceeds are sufficient to discharge the entire ! indebtedness and all proper costs and expenses secured tt?ereby. 3. I[ tbe total of th~• pa}•n?~nts mud~~ 1?~' the ~1ortKugor und~•r (a) of pura~ruph 2 precedin~ sLall exceed 's the umount of pa~-mcnts a~tuall~- mad~ b~• ttie ~tort~;a~ce, as trustee, for ~mund rents, taxes a~id asse~~ntents, ~ - and insurance premiun~s, as th~ case ~un~= tx~, such e~cess sl?all be credite~l on sut~sc~yuent pa}•ments to be made b~ the ~~tortgagor for suc•h items or, at 1~'[ortga~ee's option, n.g trustee, shall tx~ rnfun~ied to ;1~tortgagoc. If, however, such montld~• pa~•ments sliall not tx~ suffiri~nt to pu~• such iteins when tli~ same si~all become clue and pa~'able, then th~ ~1ortKa~or shall pa~- to th~ ~lortkug~~•, as irustc~, an~• uu~ount necessar~ to make up the de~icienc~. Such pa~-n~ent shnll be made ~ithin tLirt~ (:i0) da~~s ufter written notice (rom the Mortgagee stating the amount of the deficienc~, which notice may be p,~v~en b maii. If at an time, t6e Mortgagor ehall E ~ ~ ~7 ~E25~ - ~ J ~ - - p~-<,~ _ ~ ~ . . .r. ~ ~ . . . m