HomeMy WebLinkAbout2546 ~ ~to~re.~r ~b~ ..~u? r~ ~or+~ ~.t ~ ~a~te..~~~ ~eised ot ~aid lsad ia ies
sia~ple or suc6 other estaLe~ if~~?y ~s is st~Led hereia; tha6 he Ls~ tull pov?er and la ul.righ0 to oonv ? Lhe sRms . ;
as ~torew~id; tba~ tLe laud ~s ired ~rom all encumbrwa~s esoepti as hereia other~rise recited; that said~ortgag~ot-
will make ~uch lurther aesw~anoes t~o prove tbe Joreo~id titas b~aid land ia Mid Mortg*ges a~ ma~ bs reason- ~
ab required, snd that said Mortgagor does ~by i~ warraai the ~itle to ~id l~od, and eve~ Patt d!ereot~
~wilt detead the ~sme agsinst the L~riul al~ims oi peno~ whomwe~ar.
PROYIDED ALNATS ~i~t ii tha 14iortgag~or ahall ps~ unto tbs Mo~es tbal oertdn p~'umiMO17 aQts, a~
~rhich thaiolbwin~ is a subska4al o~P7, Stusrt ~ P~odd~.
i 48,000.00_
December 4 ~ 1! 74
~`1~ Rscmrsa, ~e undee~ip~ed pe+omLe(i)1o pq f~o SOUTHERN MORTGAG$ ASSOCIATES,
INC., authorized to do business in the State of Florida
,
y?wr ci State of Arkansas ~ oe a~d~, tLs prSnoipal ~um d FORTY EIGHT THOUSAND AND
DD~ZD~~~~~~~~r~~~~~~~~~~~~~~..~~~~~ ~Z1 48 ~ 00~ ~ 00 w1~ ~11~ ~ ~A 1t
t~rs r~?te ot ~}ine one half per oentum ( 9. 5%a pae annum oa tbe unp~?id b+~aa~s uat+1 Paid.
Tbe esid pi;ncip.,l and int~ee~ s~Il be p~ysWo st the o6ioe at Southern Mortqage Associates,
Inc., 1999 S.W. 27th Avenue
in Miami, Flosida ~ ~ ~ ~ ~ i° ~10 ~t° ~"'i~
delivered ar mailod to tbe debtor, in monthly inatsllaneats dFOUR HUNDRED THRES & 68/100 Dollar~
(i 403.68 oommencina oa the fiist day of January ,1~ 75, aad oontinuin~ on tbs
firat d~y oi eacb month tLareafter until this note is fuI[y-psid, ax~ t~t, if notaoone~r-p~id, tLe 5na1paym~~
of pri.ncipal and interest ohall be due and psyable on the first d~y of December ~ 200
~rivil'ege ~a reserved to prepay st sny time, without premium or iee the mtire indebtednees or anT part
tLereof not lees tLsn the amount of one installment, or one Lundc~d dol~ers (i100.00), ~?Lichever is lees.
If sny deficiency in the peyment of any installment under this note is not msde g~ood prior to the due date
of the neut such installment, the entire principsl swn and sa',rued intez~est sball st onoe beoome due and ~psy
able without notice st the option of the Lolder of this note. Fsilure to ~ercise tbis optaon shsll not oonstttute
s wsiver of the right to esercise the same in the eveat of sny subeequent defaul~. In the event oi default ia t6e
psyment of thia note, snd if the w~me ia collected by.an sttorae~ st L~r?, the nadete~gae~ hez'eby s~~ea(s) jo
P~Y sll costs of collection, including a reasonsble sttorne~'s fee. .
Thia note is ~ecured by morl~;ape of even dat~ e:ecuf~ed by the underaigned an oertain p~e+opert7 descn'bed
therein ~nd repreeents money ac uat~,y used ior tbta acquisitioa oi aid p~opert,~ot We imp~ovemenis ~n. {
~ t
Preeentment, protsst~, and notio~ are LerebJ waioecL +
~
(sl ROBERT W. BEHANNA ~ ~
~ Robert W. Behanna
I~]
/s/ DORIS J. BEHANNA ~~L~
ris . e anna ~
And shaIl dnl~7,p~o~
P~7, ~7? P~~, ~TBe, ~e~ ~P~, ~d eomply with and abide
' b7 a~ch aad ever}? the stipulat~a~e, a~+eemeate, oonditia~s, and oovensnta af said ~promieeory nota ~?d d this
~ mo~e, t~en th~s mortg~e and the est~?te bereby created st~ll oe~ee aad be null and rdd.
~ T6e ldcrtg,~gac furlhec oovenanta ae fdbws:
4 1. Zbut 6e will the indebtednees. ae he~nb~ore pro~vided. ~"riv~e 'ie re~ecved to p~+epsy at aay time,
u
without prea~nium or ee, tLe eat~ine indebtednees or any par! tbereof no~ ]eea than ~e ~wuau~t.d cae iost~ll~t, oc -
aoe h~mdred dolL~rs (i100.00), w~iChever is 1eee. _ .
2. In order more fully to protect the eecuritp of this mort.gag~e,- the Mottgagor, together ~vith and in
sddition to~ the monthl~ psy-ments under the terms of the note secured hereby, on Lhe first da~ of eac~? mont,h
until Lhe said note is [ull~~ psid, will psy to the Mortgagee, as tniatee, (under the terms of this tn~sb as herein-
atter atated) the following suma:
(a) ? sum equal to the ground reate, if an~, n~xt due, Plue tbe praninma tlut w~l next beoo~ne due aad PsYable
an policses ot 5re aad other Lassrd insursaoe eovering the murt8a6'~ ProP~Y, P~ tax~s snd aseessmenta ~
nert due m the mortgaged PropP.rtY (~411 as estinosted by t6e MortgAgee and of whicL t~he Mortgsgor ia
notified) leea a11 wme~y paid then~oc divided by the number of montbs to ela~pee betore aae month =
prior to tbe dnte whea aicb ~ound rents, pren~!uma, ta~cea, aad se~eeements will ~ tieoome delinqnen0; ~ ;
~uch s~ms to be held by l[wrtgageeintavaltopayaeud~+o~undreata,premiums,~~,~~~~~ ~
(b) 1Le ag~+~ste af the amounta purenant to wbpara~aph (s) aad t,haeepa an tLe note secuced
, at~all be pa~d ia a~p~iyment a?ch manth, to be applied to the f~ items ia the a+dac
a~: .
(n ~ ~'0. and otba ba¦~e~d 'mew~ranae pre~miums;
(II) intereeeit on tbe note ~red Le~+ebT; aad
~ (IIn amoe~isatian of the p~incip~l a[ ~aid noRe.
Any deficiency in the smount oi such~ga
te monthl~ ~ayment ~aIl, nnless made ~ood by the Mort-
~ gagor prar to the due dste o[ the next suchp syment, const~tuts aa even6 ot deisul~ under t6is mortgage.
At Mortgagee'a option, Mortgagor~vitl pay t"lats cha~rge" no~ exeeeding four per centum (4%) ot sny instaU-
~ ment ~vhenpud mon tLan fifteen (15) dsiys after the due date thereoi to oover tbe e~ctra expeuse involved in
Lu?dling de
il nqueat ~S nts, but suc6 `kte charge" dull no~ be payable out oi the proceeda oi any sale
made to astiafy the i ebt~dnees oecured hereby, unlees auch proceeds are w8'icient to d~ecLsrge the entire
indebtednees sad all pmper oosts und eacpenees secured there:by.
3. If the total of t~ie psynzents mscle b the Mortgagor undSr o[pu~graph 2 prece~ling shall eace~d
the amount of p~rmenla actually made b~ t~e Mortgagee~ as trnstee for ground rents, tsxes snd aseessments,
and insw~nce pre~niums, ua the case m~y be, such e~ccess al~sll be cre~ited on eubsequent ps}*ments to be made
b~ tl?e Mortgagor fos such itema or, -at Mortgage~'s option, ~s t,rustee, sha]1 bo reiunded to Mortgagor. Tf,
~ however, sueh monthlyps
vmenta shall noti be sn~cienL to ~pay snch items ~vhen the same shall beeome due
axd~a•~
-sbk, then ihe Mortgagor shsll psv to the Mortgagee, ae truatee, sny amount n to make up
th~e? de6aiene~. Snch pay-ment al~sll be made withia thir~y (30) davs after wntten »oticx f~e Mor`~.6~
stating ~be amonat ot tbe de6cienay, wLich notice m~~ bs gi~eo by mtu1. Ii at ~n~ ~ims ths bsortg~gos ~hall -
~D~t~
~a ~ y~ ~1-'3-~'}i': ! _ _ . _ _ _ . . _ -
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