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Home My WebLink About2731 , T'Ls ~tortg~gor Lereb~ oovensnts with tbs Mortgag~ee, t~?t be is fndefeas~'bb ~dud oi ~aid land in fes imple or auch otber estate~ ~f an~ as is st~?ted he~ein; that 6e Las tull power and lawful.right to ooavev the exms ~e aton+said; t.hi?t the lewd ~s ireo ~rom all encumbrwces euoept ~ Lereia ot6envise t+ecited; that ssid~iortgsgor will make such fiirther assunnces to pmve tha atoreeaid title ~o said laad ia suid I~iortgagee ~e m~y be reason- ab~yrequired, ~nd thst said Mortgagor does 6ereby i~ ~varrsnt tLa title to ~id Lnd, ~nd eoery pac~ Weceoi, ~nd ~vill defend the s~?me ~g~?inst tbe L~rful caaims oi perwrr wLoa~soever. PROYIDBD ALRATd t}l~~ lt LI10 ~ZOT~~O~' l~1LU ~7 UDtiO ~0 MOiT~80 ~t 06CWD pI'Om19901'y DO~~ ot whicL tbe~folbMipg is a rubetanti~l ooP7, to w~~: = 28, 600.00 Stuart ,Florid+~. August 13 i 19 74. Fos Y~ws Rsc~vsn, tLe uadeni~ed pro~mire(s)1o py ZO SOUTHERN MORTGAGE ASSOCIATES , INC., authorized to do business in the State of Florida , a eapocat~on ordantsed aad e~oetins nnder t6s ]~ws a[ the State of Arkans~ ~ principal eum af TWENTY EIGHT THOUSAND SI X HUNDRED AND NO/100 Dolla~s (=28.600.00 with intereet irom date tLe nte ot ----Nine------ per omtum ( 9. 0%) Per aanum an tLe twpaid bvanoo natil pwid. Tbe said principel and inte.ree~ ~aIl be peyabla st tbe o~oe ot Southern Mortgage Associates, Inc. , 1999 S.W. 27th Av~nue in Miami , F lorida , or st eucL othec pLoe as the holdez msy deeignste in writ~ delivere~ or mailed to the debtor, in monthly inatallmenta o~fl'~?o Hundred Thirty 6 23/100 2 30 . 2 3 oommencing on the fuat day of Se~tember , 19 74, aad eontinuina oa the Srat dsy of each month thereafter until tbis note is fully pud, eo~oept tbat, it nt?t soonec p4id, the Snal payment~ oi principal and interest ehall be due and payable on Ghe firat dsy of u qu s t ~ 2 0 0 4 I'rivile~e is reserved to prepay sti any time, without premium or ~llars~ ( 00.~ whichev~er is lesps. psrt t~ereof not less than the t~mount of one installment, or one hundred do If any deficiency in the pa~m ent of any installment under thia note is not made good prior to the due date of the nea~t such installment, the entire principal aum snd aa~.rued intereat shall at onoe beoome due and pay- able without notioe at the optaon of the holder of thia note. Failare to axem,ise thia option ahall not oonatatute a v? aiver of the right to eaerc~se the same in t6e event of any subeeqnent defaul~ In the event of detault in the payment of this note, and if t,he asme is oollected by an sttornay st Isw, the undersignad hereby agree(s) to psy all oost~ ot collectioq including a reasonsble atbrney'o fee. This note ia secured by mortgsg_e of evea dat~ esecuted by the nndere~gned on oertain pmperty described therein and represents money actually nsed for Wfe aoquisition ot eaid propatttiy or tbe improve~enis t~e~reoa. Freseutme.nt, protest~ and notioe sre henb~ traived. ~ ~,1: VADAS J . YARBROUGH ~ggALf w Is / aARR RA YARBROUGH ~gg~j,~ i ~ ' Md eha11 du diecba:ge, execute, eBect, eomplete, and.~omply w;th and abide j ZY, P~P~Y, ~?a iu~Y P~~. E by each aad every the stipulations, agreementa, oonditiona, and eoveasats of esid aote aad ot this ~ mo*tgsge, thea this mortgage and the est~?te ber~by ~+ested ~hall eeotie and ba null ra~d. The Mort~aaor lurther ooveaants ae follows: 1. Thst he ~vill p?y the indebt~edneea, as here~nbefat+e pravided. Privi'kge ie reeerved to prepay at any time, without premium or fee~ the e~tire indebtedaeee or aay pert thereo£ not lees thaa the amount of one iost.allment, ot ~ one hundred dollara (i100.00), ~vhichever is lese. 2. 1n order niore lully to protect the security of thia mort~a~e,~ the Morigagor, together ~vith, and in ~ addition to, the monthl~- pa~-~~ients under the terms of the note secured hereby~ on the SrBt da~ of each ~nonth until the said note is full~ paid, will pay to the 141origagoe, as trustee, (under t,he terms ut t~his trus6 ss herein- after stated) the following stu~~s: A sum equal to the ground r~nts, if any, next due, plua the premiuma thet will next beoome due snd p~yable on policies of fire and other ha:nrd ineurance oovermg the mortgaged pr~operty, plus taxes snd aes~essmenta neat due on the mortgsged propeity (all ae estimsted by the Mortgagee snd of ~vhich the Mortgagor ia noti5ed) lees all sums already psid tberefor divided by t6e number of mmths to ela~pee before one month prior to t6e date ~vhen wch gmund rEnte, premiuma, taxes, and ~ts ~vill become delinquent, wch suma to be held by Mortgag~eemtivattopaysaidbmundreata,premiums,t~euee,sndspecialseeees~r~ente. (b) T6e aggregste of the aonounts pa pureuaat to eabpsra~?ph (s) and thaeepsyable on the note secured ~ hereby, ehall be psid in s eing~yment esch month, to be applied to tbe f~iiowina items in 1he ordec sLsted ~ (I) ~nd r~ta, and othar h~ard iasuraaoe pnmiume; - ~ (In interee~ oa the note aecured hereby; aad (III) amortisstian of tbe princip~l of ~aid not~ Any deficienr.y in the iunount of such te monthly ~etyment t1~aD, unlees made ~ood by the Mort- gngor prwr W Lhe due date of the ne~c6 sue pspment, cwnstit~ute an event of detsult under t6is mort~age. ~ At lbiortgagee's option, Morigagor ~vill pay a"late charge" not exceeding four per centum (4%) of any install- ment w~hen paid more than Sftcen (15) daya after the due dacs tLereof to oover the eactn expense involved in handling delinquent papments, but such "Iste charge" shall not be psyable out ot the proe:eeds ot any sale ~ made to satisfy the indebt~dness secured 6ereby, udess auch proceeds are sufficient to diecharge t~e entirs ~ indebteclnc~s and all proper costs and expenses eecured therebq. ,ti~ ~ 3. If the total of tl~e pay menta made by• the Morigagor under (s) o[ paragrapl? 2 preceding ahall eaceed " the amount o[ pa~ ments actu~lly made b~ the Mortgagee, as trustee~ for ground rents, taaes and asseasmenta, ~ and insurance premiun~ss~ as t)ie ceae msy be, euch excess el?all be credited on subsequent payments to be made s ~ b~ the ~Iortgagor for sucli itema or, at Mortgagee's option, aa truatee, shell be refunded to Mortgagor. ~f, horvever, eaeh monthly pa~ menta ahall not be sufficient~ to pss such items ~vhen the ssme shall become due awd pa~ able, tl?en the Mortgagor a)?all pay to the Mortgagee~ as trustee, any smount nece~ary to mske up thp ciei`iciencr. Suc}~ ps~-ment al~all be ~nacle ~vithin thirty (30) davs afler wntten l~otice from the Mortgages ~ ~tstirig tbe amoun~ oi tha deficieuay, which notace mny be gi~en by msil. Ii a~ time i~s Mortgagor sbali • 6L~OK~~ PMf z~~ ~ 5.. ~ ~ ~~~-~°>5 ~ „ _ ~ - x~~~-~°~ M~ _ d . ~ , . . . _ _ _ _ ~ _