HomeMy WebLinkAbout2860 Tbe Mortgagor heroby ooveneats with the Mortgegee, Wa~ he is indeteaaib~jr se~sed oY said land ia fes
donple or auch otber esta?t~e~ ~~y as is at~ted hereia; Wat he has tull power and bwiul rig6t to o~ovav t~he s~ma
aa aToreeaid; t~h~~ the l~wd ~a ires ~rom all eucumbrwces eucepL as horein ot~?erv~ise recitad; th~t aaid ~+Iortgagoe
will malca such tur~her aesuranoes to pro~e Lhe atoresaid titk b s~id luid in said Mortgagee as ma~ be~ec~eot
ab req uired~ snd that s~id Mortgagor does bereby i~ ~uranti tbe ~itJe to aaid l~nd, sad ever9 P~
~~rilt defend the same ~gainst the lawiul c~aima oi pereoas whomaoevar.
P~eov~~so AL~r~YS th~t it t6e I~iortgagor s~aU py unto the Mortgages tba~ oertaia prom~ry note~ oi
which the iollowipg is a aubutantial ooPf, to wi~:
i 40,000.00 Fort Pierce , ~lorid~.
~ ~ - . . ~y 19 ,19 7~ • ~
Fox Vwws Rscwso, t6e unde+~ed Promise(e) t,o P~4Y tiO
T~ T~OMAS & Ng'!'1'LETON G~OMPANY , s oorponteoa or~snised snd e~uatina undar-1be ~
y~. , principal sum ot F~RTY TROUS~AND Al'~ no/100------
~~~~~r~~~~~~~~~~~~~~~N~~~~~~~~~~~~~~~~ j~ C+ T/'~~W A•N! ~~lWr itVW ~{R 8~
the nte at l~INS P~ centum ( 9%) P~ anuum on the unpaid batanoe unW paid. .
T6e ssid principal aad interee! shsll be psyable st We o~ce of IAMAS Es NSTR4.8'.t~OF G~OI+~APY
ia Pirginia Beaeh, Virginia . or at sucb other plaoe as the hdderZnay deaignate ' writ~ng
delivered or mailed to the debtor, in monlt?ly installmente ofTH~S ~l~JI'~~ 'I'FTSN'17-'I~iO aud ~Orl~llara
(i 322. ~0 commencing oa the fi~st day of 3eprtember . 19 74 , and oontinuioa on tbe
firat day, o! each mont6 thereatter until thia note ia tu11Y Pud, euoept thst~ it not eoo_
nqr paid, tbe finsl psyment
o~ p~inc~pv and interest shaU be due and psy~ble on the Srat dsy oi J1i1.Y~ 2~0~~• ~ -
privil~ege ia reeerved to prepsy at any time. without premium er fee. the entire indebtedoees or sny puC
the~eoi not las t6aa t6e amount ot oae inatallmeat, or oae huad~ed dollais (i100.00), whic6e+?er ~ le~. PeeP~Y°K°t in tuU
ahaU be credited oa tde date receined. Partid prepayment, other than on aa iastallmeat due date, aeed not be credited until
the ae~ct Idlowin~ insta~lment dae date or thiity days atter sud~ prePaYaaeat, whicherer is eartier.
Ii sny deficiency in the paym
ent of any i~tallment under tLis note ia not made good prior to the due date
of the next such inatsllment, tDe entire princiPal sum and accrued interest ahall at onoe beoome due snd Fay-
sble without notics st the option of the holder of t~ia note. Fsilure to esercise this option ahall not oonstatute
s waiver of the right to esercise the same in the event of any subeequent defaul~ In the event of defaul6 in the
psymen~ of this note, snd if the ssme ia coUected by an sttorne~ at Lw, the underaigned hereby agree(s) to
pav all oosts of oollectioq including a res.sonsble attorney a fee.
T~is note ia secured by mortga~e of even dets executed by tLa undersigaed on c~ertain property described
tlierein and representa money actuatty used for the scquisitaon of said property or tbe impmvemenLs thereon-
Preeentment. pmteat, end notid+ ue hereby waived.
1/ C:harles Ro*+A~ ~ Vo k [36AL]
ROAALD VOIZC
1s ~?Qy B. volts (sw.J
JOY B. VOI~C .
. _ [sg~?L]
[s~.]
And stuJl duly~ promptly, and fully pedorm, discharge, euecute, e6ect, complete~ snd comply vRith and abide
by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this
mortgage, then this mortgage and the estate hereby created shall cea~e and be null and vad.
The Mortgagor further oovenants as follows:
1. That he will pay the indebtedness, es hereinbefore provided. Privilege is reserved to pr~pay at an~,r time,
without premium or fee, the entire indebtcdness or any part thereof not less thaa the amount of one uiatallment, or
one 6undred dollars (i100.00), whichever is less.
2. In onler ~nore ~ull~- to pmtect the see~urit~- of tl~is n~ort~age, tlie ~•fortga~or, togetl?er with, snd in
addition to, the monthl~- pa~-n~ents under th~ terms of th~ notc• se~urncl h~reb~•, on th~• first da~ of each monih
w~til the saicl not~ is full~ puid, ~ill pu~' ta thc Llorlgugre, a.s trustee, (under the ter~~~g of this trust as hernin-
a(tcr statetl) the follo~itig sums:
(a) A sum equal to the ground rents, if any, neut due, plus t6e premiums that will next beawme due and peyable
on policiea of fi[e and other ha:ard inauranee aovering the mortgaged propertY~ Plus taues and assessments
next due on the mortgaged property (aII ss e&.imated by the Mortgagee and of which the Mortgagor is
notified) less all sums alreadY paid therefor divided by the number ~f months to elapse before one month
prior to the date when such gcound renta, premiums, taxes. and as~ssments will become delinquent,
such sums to be held by Mortgageeintn~sttopsysaidgroundrents,premiurns,ta~ces,r.ndspecialass~sments.
(b) The aggregate of the amounts payable pursuant to snbparagraph (a) and those payable oa the note ~ecured
hereby, ehsll be paid in a single paymeat each month, to be sppl~ed to the following iLems in the order
stated
(n Bround rents, t~ea, assessments, fire, aud other ha:ard insurance premiums;
(In interest o~n the note aecured hereby; and
(III) smortisation of the principal oi said note.
Any deficiency in the amount of such aggre~ate monthly payment shall, unless made goocl by the Mor~
gagor pr~or to the due date o[ the next such pa} ment. constitute an event of default under this mortgage.
At Mottgagee's option, Mortgagor will pay a"late charge" not exceeding four per centum (4%) of sny install-
ment when paid more than fifteen (15) deys a(ter the due date thereof to cover the extra expense involved in
handling delinquen6 pay ments, but sueh "tate charge" shall not be payable out of the proceeds of sny sale
msde W satisty the ~ndebtedness secured hereby, u~iless such proceeda are sufficien6 to discharge the entire 4
indebtedness and all proper c~sts and expenses secured thereby. ~
3. If the total of th~~ pe~-~nt~nts ma~le h~• the ~iort~u~ar und~r (a) of para~rupl? 2 prnceding shall exceed ~
the amount o( pa~ u~enls actuall~ niu~i~ b~- tlie ~ionKaKe~~, ss trustee, for groun~l n•nts, taxes and assessments, ~
and insuran~e premi~ms, as th~ case mu~~be~, such excesa shall lx~ credit~cl on subsryuent pa}•u~ents to be made ~
b~ the Ltortga~or for su~l~ iteins or, at ~tongu~c~c?s option, c?.g trustec, shall be refunded to :~iorigagor. Ii, '
however, sucii ntonthl~' pt?~ments shall nM trc~ suffiri~nt to p~}- suc•h itanc when the sante shall become due {
and pa~able, thcn th~• `1ort~u#;or sluill pu~• to tli~ ~1ort~n};~~~. as tru.5te~~, un~- uniount necessar~ to make up
the de~icienc~'. SurL pa~~ment shall br tna~lr Kithin tl~irt~~ (:i0) da~^s ufter written notice from t~~e Mortgagee
stating L6e amount oi the Zeficienc~, wl~ich notic~ may be given by mail. If at sny time the Niortgagor shall
B OOK P~CI
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