HomeMy WebLinkAbout1743 The riortg+~r hureby oovenwnts with the Mortgagee~~ th~t he is indete~.~ibly seized o! said land in fee
einnple or such ot~her eatAte~ J any as is at~ted herein; that ha hos tull power and lswiul rig6t, to oonvev the snnie ,
as atoresaid; t.h~t t6e lsad zs iree from ~?U encumbrwiooe eucept as herein otherwise reci~ed; tihat~ asid~iortgpgor
will meke auch turtl,er aesursnoes Lo prova the ato~eaaid tiue to said land in said Mortgsgee ~w auy be :e,~son-
sb requiced, ~nd t~ha~ ssid Mortgago~ does hereby fuU,~ w?uran6 tbe 4/Je to said laud. and avory p~r~ therooi,
a
an ~rill detead the same agsinst tbe l~wiul cLims ot a!l pecaoAS whom.goever.
PROYIDBD ALNAYB ~1~L if the I1loctgagor ahall pay unto the Mortgages t~?t certaia promiseo~ry aota, oi
which the followiag is a subet,antial aops~ to ~viL:
_ ~9, 3~. 00 F'~rt Pierce , '
July Zo 19 74 . ~
r'
Fos V~.vs ftacsivsn~ the unde~ed Pro~niee(s) to PsY to i
J. T. STEWART MORTGACE (.'OMp~1NYs INC. _
_ , s oorporatioa ordanised and eaatins under tbe
bps of the State of F'l.orida ~ or otder~ the principal sum ot T4~lENTY I~IINE TfiOUSAND TfiREE
Doilsrs (i 29, 300. 00 w;U, interest from dste st r
H'.3NDRID AND I~0~1~-----------
the rste of----NINE---------------- per centum ( 9%) Per aanum oa the unpaid bslxnce unWpa~d.
1Le ssid principat aad inter~st shall be paYable at the o~'ice c?i J. T. STE1+iART MOR'1'GAGE COA'lPANY ~ INC •
post Of'fice Box 1309
in Cora1 Gables, Florida , or at such ot6er plaoe sa the holder may d~°j
te ia writing
deiivered or mailed to the debtor, in monthly instaUmenta of 'i~i~0 HUNDRED THIRTY FIVE ~C ~ ~ r 1~ Dolla~s
(i 235. 87 cornccencing on the firsc day of September , 19 7~+ , and eontinuiag aa the
6rst dsy oi each month thereafter until this note is tuUy paid, euccept thst, if not sooner paid, the &nsl psyment ,
of prinGpal and intec'est shsll be due and psyebla on the 6rs~ day of pugu st ~ 2QJ~+ • :
prioilege is resec~ed t,o prepay st. sny time~ wit6out premium or fee. t6e entire indebtednees or sny part '
thereot not less thm the amo~iat ot one iauallment, or one huadred doUus (E100.00), whichever is less. Prepaymeat in [vll
shall t~e credited on the date receired. Putial prepayment, other thw oa an installment due date. need aot be ciedited until
the aext tollowiag installmeut due dafe or thiety days atter such prepaymeat, whichever is earlier-
If sny deficiency in the payment of any inst~ilUnent under this note is not made good prior to the due dste
of tLe neat such instaWnent~ the entire princapal sum and accrued interest shall at onoe become due and ~sy-
able without notice at the option ot the holder of this note. Failure to eaercise this option a6a11 not oonst~tute
s wniver of Lhe right to ezercise the same in the event of any subaequent default. In the event of default in the
payment of this note, and if the same ia collected by sn attorney at law, the undersigned hereby agrea(s) to
pay all oosta of collectioa, including s reasoneble attorney's fee.
Thia note ia secured by mort,gage of even date executed by the undersigned on certain property described
t6erein and represents money actually used for the ecyuisition of said pmperty or the impmvemente the~'eon.
presentmeat, protest, and notice are hereby waived.
e ~1-~-'[~1~18--C~'t ~r - ~Sg.Aj'~
RAY THOMAS GEIGER [ssnL]
/~~a-~---~-
ALICE ~T. GEIGER
~ _ [sEnL]
. ~~L~
I And shall duly, promptly, and fully pedorm, discharge, execute, eHect, complete, and comply with and abide
by each and every the stipulations, agreements~ conditions, and oorenznts of sa~d promissory note and of Lhis
mortgage, then this mortgage and the estate hereby created shall ceaee and be null and veid.
The Mortgagor further covenants as follows: 1
1. That he wil! pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time~
~vithout 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 ^r~ler u?or~~ full~• to prot~•~•t the s~•curit~- of thiti ~iiort~a~~, the \iort~;x#?or, togeth~~r «ith, and in
~ ad~lition to, the monthl~• pHrn~ents undi•r the t~~rui~ of the not~~ si•~•ured lu•reb~-, on thc• fir~t da~• of ~•a~-h montli
until tl~e said uot~• is full~- ~is?id. Nilt pa~- to the ~lortgu~;e~, a.s tru.;t~~, (un~ler th~• te•rn~s uf this tru~t u., hrrrin-
after stated) tl~c fullo~i~ig suu4,:
(s) A sum equsl to the ground rents, if any, neut due, olus the premiums that will next become due and payable
on policies of fire and Qther haaard insurance covering the mort~aged property, plus taxes and xssessments
neat due on the mortgaged property (all as estimated by the ~iortgagee and of which Lhe Mortgagor is
noti5ed) less all sums already paid therefor divided by the number of months to ~lapse before one month
prior to the date when such ground rents, premiums, taxes, and a~.sessments will become delinquent~
such sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taxes,andspecialassessments.
(b) The ~,gregate of the amounts payable pursuant to subparagraph (a) and those payable on the note •ecurzd
hereby, shall be paid in a single payment each month, to be appl~ed to the foUo~ving items in t6e order
stated
(Ij b,round rents, taxes, ess~sments, fire, and other hasard insurance premiums;
{II) interest on the note secured heceby; and
(III) amortiaation of the principal of said note.
Any deficiency in the amount ot such a~gre~ate monthly papment shail, unless made good b~ the ;~~ior~
gagor prior to the due date of the next sucl? pa~ ment, const~tute an event ~f default under this mortga~?e. 3
At A4ortgagee's option, Mort~agor will pay a"late cl~arge" not exceeciing four psr centum (4%) of any install-
ment when paid more t6an ~'fteen (15) da}s after the due date thereof to cover the extra expense in~ol~ed in
handling delinquent ~ayments, but such "late charge" shall not be payable out o( the pra:cecis of an~ sale
made to satisfv the mdebt,edness secured hereby, unless such proceeds ace sufficient to d~scharge the entire
indebtedness and all proper costs snd expenses secured thereby.
:i. If tl~~ total of the pu~-~ii~nt~ n~n~lr hr ihc• ~lori~;u~?ur uud~~r (a) of paru}~ruph 2 pr~~•edin~ sl~~il excced
th.^ iui~ount o( pa}-~n~nt~ iu•tuull~- n~u~l~ b~- tlu• ~lort~;u~?~•~•, u.~ irust~c•. fur ~roun~! r~•nis. ti?x~s a??cl as+c:c~ments,
- and insuran~~e pr~•iniwi«, ~s tlu• ~•usi~ mur~bc~. suc•h exec~ sl~all ix~ credit~~d on sul?s~~queut pa~-numts to t~ made
b~ the ~1ort gu~;or for su~h itc•ms or, ut ~torigage~'s option, a.g truste~~, shall b~~ r~fu~uicd to `1oriKaga~. If,
howcv~r, sucti n?onU~l~- pa~•mc•nts shull n~~t IN• ~u~~•i~nt to pu~- sw•h it~~in. wh~n th~ sam~ ~hnli Ix~~om~ clue
and pu~•uble, then thc ~lortkakor :=hall pn~- to tli~ ~1ort~;a~;~•~•, as iru,te~. an~' unu?unt n~c~~csar~ to make up
the cle~iciene~-. ~u~•h pa~•m~•ut CIIaII IM 111:11I1' Hithin tl?irtr (:t0) da~'s :~fter ~ritten notice iro~n the Liongaf;ee
stating the amount of the deficienct-, ~rhich notice may be gicen b~ mail_ 1! at an_y time the :~tortgagor shall
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