HomeMy WebLinkAbout1457 The Mort~agur hereby oovenaacs ~rith lha Mort~uugee. ll?at he is indelea~:ib1y boized of s+?id land in fee
~nple or such otber eata?tet d u~y as is etated berein; tt?at he hua [ull power and l~wtul rigbt to convov t,he s+~ma
as atoras~id; cLat~ the luid is iree frum all encumbrwnces except as horein ol,herwixe recit,ed; t,het said~rtortgagor
will m~ke suc6 turt~her ~asunnces b prove the aforosaid tiLle to said land 'ul suid Mortgsgee ra may be roASOn-
ab required~ and t~ut said Mortg~go~ d~s t~eraby f ully warna6 the title to ~?id lsnd, sad every pu~ U?ereot~
~wiU delend tha same agsinst tha l~wful cluima ot all pe~oas whomsoever.
PROYID~D ALNAYd I~~~ II 1.Ile ~TO~~igOr 8I1~II p~ 11IIt0 ~ MOt1$igM L~~ OO~~Y1n PI'0~1880TY p01~~ ai
which tha tollowiug ia a suba6antivl ooPf. to wit:
i 28, Soo. 00 Fort Pierce ,1~lorida.
July 5 ,19 74 .
Fos Vwt.us R~ccs~?sn~ the undera~ned Proa~i~e(8) to Pa~? b
J. T. STEWART MORTGAGS COMPANY~ INC.
, s eorpocatioa org~wised aud e~stiog under tde
laws ot the State of Flori.da . or order, the principal sum of 'Ii+TENI'Y EIGHT THQUSAh~
FIVE MTNDRID AND A0~1~0-~---------------- ~(i28~500.00 with interest irom dste at
the rste ofElGli'P &~iFtE~ @UARTERS per centum ~ 3. %J) ~ a'S°TB'hAR'1' MORTGAGE COMPANYW INC.
The said principal aad iater~st shall be psyable at the o@'ice of
P. o. eox 13~9
in Coral Gables~ Flor'~da , or at suc6 otLer plaoE sa the holder may desigaate j'~ writ~ng
delivered or mailed Lo the debtor, in monthly ~nstallments of 'I4r0 HUI~RED Z~1Eri'I'Y FiUUR AI~ID 30/ 19~llars
(=224 ~ 3p coEnmenciag on the first day ot September ~ 19 74 , and cantinuing on the
firat dsy of each month thereatter until this aote is fully paid~ e~~cept that, if not sooner paid, the finsl payment
of principal and interest shall be due and payable oa the 6rst day oi pugust . 2~+ •
privi]egre ia reserved to prepay st any time~ wiWout premium or fee, the entire indebtedaesa or any part
thereot not less Wan the amouat o[ oae installme~k or one huadred doUars (i100.00), whichever is less. Prepayment in tull
shaU be eredited on the date received. Partial pcepayrnent, other than on an installment due date, need not be ctedited uatil
tlte ae~ct Idlowiag installmeat due date or thirty days atter wch prepaymeat. whic6erer is eadier.
If any deficiency in the payment of any inst+illment under thia note ia not made good prior to t6e dus date
of the neat such iastallment~ the entire principal sum and accrued interest shall at once become due and ~ap-
able without notice at the optaon of the holder of this note. Failure to eaercise this option s6all not oonstatute
a waiver of the right to eaercise the same in the event of any subsequent default. In the event of defautt in the
psyment oi this note, and if t6e ssme is collected by sn sttorney st laW, the undersigned hereby agree(s) to
pay all costs of collection. including a reasonable attorney's fee.
This noi,e ia secured by mortgage of even date executed by the undersig~eed on oartain property described
tLecein and represents money actually used for the acquisition of sa~d property or the improvements thereon.
Presentment, protes6, and notica are hereby waived.
~s[,~tBDh~t1-J-er~ris Cha~an [~Ll
STEPEI~i Id.~F1IS C:~iAPMAir
/S~isanA ~t+ {~y~~,s~n ~SEAL]
,
DIA?tE T. CHAPMAN
[s~J
~ [srr?Ll
I; And shall duly, prompt,ly, and fully perform, discharge, execute, eftect, complete, and comply w*ith and abide
~ by each and every the st~pulations, agreements, conditions, and covenants of said promissory note and of this
mortgsge, then this mortgage and the estate hereby created shall cease and be null and void.
The Mortgagor further covenants as 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 indebtedness or any part thereof not less than the amount of one installment, or
one hundred dollars (i100.00), whichever is less.
2_ In or~ler n~or~• full~- to prot~•rt thr sr~•urit~- of th~t niortg+~r~•, the~ ~:ortga#,?or, togeth~r ~~•ith, and in
ad~lition to, thc~ tnonthl~- pu~•niNnts undrr tl~~ trnus of ih~• not~~ s~~~•ure~l h~~ret?~-. on tht• fint ela~- of ~•n~~l? ~no~~t!?
until th~~ sai~l not~• is full~ puid, N"I~I ~)A~' ~O lllP ~1ort~u~;~. truste~. tund~r th~~ te•ru~. ~?f thi, irust z?: h~•rc~in-
aft~r stute~l) tL~ foilow~inK sums:
(s) A sum equat to the ground rents, if any, neut due,.plus t6e p~emiums that will next become due and payable
on policies of 5re and other hasard insurance covering the mortgaged property, plus taxes and ~.ses.sments
next due on the mortgaged property (a11 as estimated by the ~iortgagee and of which t6e :1[crtgagor is
notiSed) less all sums almady paid t6erefor divided by the number of months to elapse tefore one month
prior to the date when such ground rents, premiums, taues, and as.~essments will become delinquent,
sach sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,ta~ces,andspecialassessments.
(b) The aggregate of tae amounts payable pursuant to subparagraph (u) and those payable on the note secured
6ereby, shAll be paid in a single payment esch month, to be appl~ed to the following items in the order
stated
(I) ground rents, ta~ces, asse~ments, fire, and ot5er haasrd insurance premiums;
(II) interest on the note secured hereby; and
~ (IIn amortiaation of the principal of said note.
~ Anv deficiency in the amount of such a~re~ate monthly pay ment shall, unless made ~ooci by the ~fort-
gagor prjor to the due date o( the next sucl~ pa~ ment, const~tute an e~ ent of de[ault, unJer th?s mort,gage.
At ~'Iortgagee's option, Mon~agor wii: pa} a"lete ct~arge" not exceeding four per centum (4%) of an~ install-
ment v?hen psid more than fi[teen (15) days a(ter the due date thereof to cover the extra e~pense in~ol~ed in
handling delinquent payments, but such "late charge" shall not be pa~ able out o( the proceeds of an~ sale
made to satisfy the ~ndebtrdness securecl hereLy, uuless such proceecls are sufficient to d~scharge the entire
iadebtedness and all proper costs and e~penses secured thereby.
:3_ If tl?~ totxl of th~• pa}-nit•nts n~n~ii• h~- thc• ~lortr:~~;or un~l~v of para~rapii pr~~~•c~din;; si~all exeee~i
th~ amount of pa~-ni~nt~ a~•tuall~- m~ul~• b~- tlu• ~[ort~;u~~•~•.:~.. tru~tee•. for ~:roinul r~•nts, ta~r. un~1 us.~~s.Sn~~tzts,
and insuranre pri•iniwns, as tlu• ~•us~~ ~na~~t~. ~ucSi ~•xc~:ss sliull Ix~ ~rrdit~•~I on sulw~•c~uent pu~-~n~•nts to tm made
b~ the ~lortg:~;or for su~•h it~rns or. at ~tortga~;~e'• option, us tru~te~•, 5hul) in~ r~•funded to ~1ortKagor. If,
hov~c•~er, su~h ~uontld~- pa~-m~•~~Is ~hiill nM IN~ .utti~•i~nt to ~?u~- ~urh itriu. H•h~n th~• sanic~ shall l~eotn~• ciuc
and pu~abl~, thrn thc ~1ort~u~:~rr .hall ~r.~~- th~• ~1ort~;n~~~, ns ~ru,t~•~~. un~- :unouut n~~~~~san• to make up
tl?e de~icienc}-_ ~urh pu~•n~~•nt :I~ull tx• ma~l~~ Nilhin thirt~- (:~0? da}-•:ift~•r .~-ritt.m noti~•~• frotn the ~~lortga~;ee
steting the amount of the deficicncr, w~hich notic~ n~aF be gi~ en by mail. It at any 4ime~ the tilortgagor s6all
BGRK PACE 1~~
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