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Home My WebLink About0677 Ths ~Iortg~g^or LenbT oo~enana with tbs Mo~tg~ee,, t~t hs i~ ~ndetew`b~ teised oi ~atd laad in ies ~mple or such a Wer estate~ ii~sqy ae is st~?ted 6eieia; t~u?til~e L~s !uU power ~ad L ul.right to oonve~ the aRms ae ~foresaid; that tbe l~nd ia ired ~rom all encumbraaoes exoept as Lereia othen~ise recited; th~t said~iortg~gor will mske sucL fiutLer assuranoes to prove t~bs atoresaid titas to ~aid laad ia said Mortgagee as m~~ be re~wn- ~b~yrequired~ snd t6uti said Mortgagor does 6ereb~ i~ ~rarrsat tbe title to aaid Liud, ~nd eve~y pa~ therooi, aad ~vill defend tbe wne agsins~ tbe Lwiul cLims of penutr wLomtosver. PROVIDT?D AL~YATS Ulat lt ~1A ~OT~'aQqt ~iu py 11Dti0 tL0 MO['fga~ee iLa~ oert~ain p~romi~oi'y not~e, ot wLicL thalolbwing is a sub4tantial ooP7, Lo wiL: = 37,600.00 Stuart June 27 • ~ 74 • Fos Viws A~cm~, tLe uodE+raepbd p~e+omi~e(s)1o py to SOUTHERN MORTGAGE ASSOCIATES, INC authorized to do business in the State of Florida oapast3an o~n~~ed ~ad eaost~iu~ nnder yre 1i?~s ~ the State of Arkansas , a' ~ P~~ THI RTY SEYEN THOUSAND SI-X Hl1NORED and k0/100----------------------- ~(=37,600.00 wiW int~eet fnoon date st - ~ ~ ~ Fight ~ three~fourths 1~ (8.75 P~ ~ ~ ~P~ ~ ~e esid pr~ncip4.aa int~ree~.~ll be P4y~ Southern Mortgage Associ ates , Inc. , ? 1999 S.W. 27th Avenue ~ Miami, Florida .a~t~~~P~~~~~~~~~~t delivered or mailed to the debtor, in monthly ~natallm~te af Two Hundred Ni nety Fi ve & 91 /100 ~11~s 295.91 eommencing on the 5rst ds}? of August . 1~74 , aad eontinuin~ on t6e first dsy of each month thereaiter until tbis note is fully psid, eocoept tbat, if nst sooner p~id, tLe 5na1psymea0 of princrpal and interest ehall be due ~nd payable on tLe Srati dsy oi JUIy , 2004 vi Privile~e is reserved to prepey st any time, ~vithout premium or f tbe entire indebtedneas or anY P~ thereof not less th~n the s?moun~ of one inatallment, or one Lundred do (i100.00), ~rhichever is lesa. If anp deficiency in the paytnent of any installment under tbis note ia not made good prioc to the due c~ate of the neat suc~ installment, the entire principal sum snd accrued intereat aLall at onoe beoome due and Fay able v?ithout notioe et the option of the holder of thia note. Failure to axerciae thia option ahall not oonstitute s w ai~er of the right to eaercise the same in the event of any subeequent defaul~ In fLe event of de[ault in t6e pafinent of this note, an d if t he eame is oollected by an sttorney st Lw, the n n d e r e i g ned bareb~ agree(s) to pay all oo~ts of collection, including a reasonsble stitorneJ'4 tee. . ~ ~ Thi$ note is secured by morltga~e of even datqr ezecuted by the vnderesgned on eertan property deacribed ~ tLerein and represents money sctually used for fhb aoquisitiQn o1 wd propert~y~or tLa improvemauis i~~eon. Preeantment, protes~, and aotioe are hereby Raived. /s/ WILLIAM R. DAVIS /s/ GLORIA A. DAVIS ~~y~ - L~ ~~l ' Aad eba11 dul~?, P~P~Y~ ~a ~Y P~o*~ execnte, e~ect, eomgkte, and eomply with and sbide r b~ each and ev~ry the stipulations, agreemente, oanditions, and eovenanta of eaid ' note aud a[ tbis sno*t~ngP,, thea this mortgage and tLe estste hereby areated s6a11 eeaee aad be null raid. ~ ~ TLe Mort~saor further ooveaanta sa follows: z 1. Thst he will psy the indebtedness, as hereinbefore provided. Privitege ie reeerved to P~'ePBY ~~Y _ without premium or fee, the e~tire indebtednees or ~ay part thereof not Iees thau the ~nount of one iostallment, ot = one hundred dollaia (i100.00), ~rhichever is lees. ` 2. In order more fuily to pmtect the security of thia mortga~e,- the Morigagor, together ~vith~ and in ~ ad~li~ion to, thc monthl~ pa~~~ienta under the terms ot t}~e note secured }iereby, on the first ds~~ of each inonth a~~til tiie said note is full~ paid, will pay to the tiiortgag~e, ss trustee, (under the Lemns of this trusL as herein- sftcr statcd) il?e follov~ing sw~~s: ~ (s) A sum equal to the ground reat8, if aay, Dezt due, plus the premiums thst w~l next beoome due and peyable on policiee of Sre aad other harsrd ineuraace oovuwg tbe mortgaged propertY, Plus taxes and ae~essments next due an t6e mortgaged property (all as estimated by the Mortgagee snd af which t6e Mortgagor is notified) lees all sums alreai~r paid therefor divided by the number af mmths toe1~~ before one month prior to the date ~vben such 6round renta, premiuma, taxes, and aeeeesnnents will Leoon?e definquent~ : wch aums to be Leld by Mortgageemtrusttopayesid6roundreate,premiums.ta:es,aadepecaalseeee~u~e°te. (b) Tbe aggregste o~ the amounte ps~?able pure~ant to aabpersaraph (s) and lhoeep~ m tbe note eecured ~ Lereby,~ha11 be paid ia a ong~e PsYment each manth, to be applied ~o ibe f~ items ~n 1Le ordat ~tated: ~ m~d rm+a. tuee. ~+a, 5ra aaa ot~r b~s~a ineur~uoe p~miums; _ 3 (II) inte~at m tbe note ~,red Lereby; aad ~ c~~n ~a~~ ~ ~ p~«~ ~.~a . s~ Any deficiency in the amount oi such~regs te monthly payment ahaD, unlees made ~ood by the Mort~ gagor pnor to ti?e due date o[ the neact such ps~-rneno, oonstit,ute an event of defsult undec this ~nort~a~e. ~ At Mortgagee's option, Mortgagor ~vill pay a"IaLe chsrge" not ezaeeding four per centum (4%) af suy install• ~ ment ahen paid more than Sfteen (15) dsys aiter the due date thereof to oover the ex~n eacpeose involved in ~ handling delinquent pspmente, but such "late chsrge" shall not be psyable out ot the proceeds of any sale made to aatisfy the indebttdness secured hereby, unleas such proc~s ue su~Cient to d~ech~ge Lhe entire indebtednees and all pmper cwsts and expensea eecured thercby. 3. If the total of tl?e psyn~ents made bj• t}~e Mortgagor under (n) of paragrsp}~ 2 pre.ceding shall exceed tl~e amaunt o[ pa~ menis acLuallv made b~ the Mortgagee, as truatee, tor ground renta, taaes snd assessinents, ~ s.nd insurance premiums, as the caBe may be, such excess sliall be credited on subsequent payments to }~e mads br the ~iortgagor !or aucli iteina or, at Mortgagee's option, as truatee, shsll be refunded to Mortgagor. If, ho~vever, sueh monthly pa~~menta shall not be sufficien~ to pas such items w?hen the same shall become due - ard pa •sble, then the Mortgagor ehall pav to the Mortgagee, as trustee, any amount necessary to make up the d~ciencc. Such pa~-ment s)~all be inade ~rithin thirty (30) dsvs sfter wntten ~~otice imm the Mortgatcee stat.ing tbe ar,uount of ttw deficieucy, ~hich novice may be ~i~ea by ma~1. If at sa~ time tLs Mortgagor ~haU 8t7~1( ~~.e`7 PACE V I l 1 - z "'~3u;-~~: _~a.ar~ "=nr a - , i " z~. "ry~ .:.`i _ . . '~a~.. _ .r ~y..~....i~ 6 ~ .