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Home My WebLink About1072 , ; • The ~ortg~gor hereby, oovenants with tLe M tL~ti Ls i~ ~ndefea~a'b seiaed oi aid land in ies innple or such other eatate~ ~f sny as is stated he~ein; tbat has tull power and la~ul.right to oonvev the same as ~foresaid; th~t tbe li?ud ia ireeJ from all encumbrances e~oept a~ herein ot~L~+ recited; t~u?t saidl~rtortgagor will make such further sesurances to prova tbe atoe~aid title to ~aid Ir?ad ia ssid Mortgag~ee ae may be reason• ~b req uired, u?d that ~aid Mortgsgor does 6ereb~ i warrant tLe title to said Lud, and evar.y p~ therooi, aa ~vill defend the ~me ~gainst tbe Lwiul cLima oi~ pa~w~ whomroever. PROVIDED AL~IAYB ~l~t if tLa Mortgago~ sLall pq onto tbe ~o~rt~agee t~ asrt~in promieoory note, ot whicL tLafolbwi~ is a~ubaLaut,i~l ooPJ, i 31,750.00 Stuart,~7orid~. December 13 ~ 1~ 74. Fwt Vat.vs I~cs~, tLs ua~dect~p~ed pe+o~mi~e(s) io pp t0 SOUTHERN MORTGAGE ASSOCIATES , INC., authorized to do business in the State of Florida eo~po~st~an ot~nised and --'w...~riug nnder tLs I~ws at State of Arkansas ~ ae oe+der, tbe pzindpal wun aE THIRTY ONE THOUSAND SEVEN HUNDRED FIFTY AND 80/100--------- Dollars (i 31, 750. 00 with iatereat irom date st tLe rste of nine pes ceatum ( 9%) Per an~?wn on t6s unp~id bvaaee uatil paid. Tbe eeud principgl md intcreet sba11 be pqysl~le st tLa o~oe ot Southern Mortgage Assocaites, Inc., 1999 S.W. 27th Avenue in Miami , Florida , or st such otber pLoe aa tbe Loider myr desigo~e ~n delivered or mailed to the debtor, ~n monthly installments of TWO HUNDRED FIFTY FIVE & 5~ 2 5 5. 5 9 ~~~cing on the first day of January , 19 7 5, aad oontinuinE an the first dsy oi each month ~hereafter unt~7 thia note ie tully paid, axoept that, ii not eoonec paid, the 5na1paymenti oi princigal end mterest shaU be due and p4yable on the fuati day of De~ember , 2004 . Privile~e is reserved to prepay s~ any time, ~vithout premium or fee tLe entire indebtednees or snp psrt thereof not less W~n the amount of one installment, or one hundred dol~ars (i100.00), ~rhichever ia lesa. If any deficiency in the paym ent of any installment under t,hia note ie ~t mede good prior to the due dste of the next such inatallment, the entire principal aum snd uccrued interest shall at onoe beoome due and ~ay sble without notioe at the option of the holder of this note. Failure to ezemise this option shall not oonst~tute a waiver of the right to eaerciae the same in the event of anp subeequent defaul~. In the event of defsult in tha paytnent of this note, and if the eame is oollected by sn sttoraey at L~v, the nndereigaed hereby agree(sj to psy all ooste of collection, including s reasonable attarne~'o iee. This note is ~ecured by mo of even dstq e=ecuted by the nnde~reigned on eertain propert~ deecribed tberein and repreeents money ac~~w~? y used for tbfs soquiaition oi ~a~d propart~y "or ~he improvemanir t~ereua. Preeantment, protest, and notioe are berreb~ xaived. /s/ Nathaniel Po~ter ~~;f Nathaniel Porter /s/ Marqaret Porter t~a ' Maruaret Porter ~ ~~L~ = And eball dul tl and fu orm diec Y~ P~P Y~ uY P~ , b+?~, ezecute, e8ect, ~omplete, and- eompiy witD and sbide ~ by eech and every the rLiP~~~0. oonditions, and eoveasnta of esid promiaeory n~ot~e and at this ; mo*taage, then this mortgage and the estste hereby ereated shall eepse and be null aad Toitl. i Tbe Mort~s6or further oovenants as follows: ~ 1. 1Lat he ~vill pay the indebtedneas, as het+einbefare provided. Privilege is re~ved to P~PgY ~~Y 3 withoat prem~ium oc fee, the ~tire indebtednees or aay part thereof nat leea than tbe amount of one iu~allment, at ane hundred dollars (i100.00), ~vhichever is lees. 2. In order more fully to protect the aecnrity of this mortga~e,'the Morigagor, together wnth and in adciition t.o, the monthl~ pa~-~nenta under the terms of the note secured hereby, on the first da~ of eac~ month ui~til the said note is full~• paid, will pay to the Mortgagee, as trust,ee, (undet t,he Lertns ot Lhis trusL as herein- alter stated) the following suma: (A) A sum equal to the ground reate, if any, next due, pius the preminms thst.r~l ne~ct beoome due aad psysbb on policiea of 8re and other ha:ard ineunuce eovesng t~ n?ortgaB~ P'r'oPertY. Plua ts~cee and ae~saments ~ nest due on the mortgaged pr~perty (all ae estimated by t6e Moctpgee aad ot whieh t6e Moctgsgor is notified) lees a11 sums already paid t6erefor divided by the number oE mmtbs to ela~pee before one month ~ prior to the date ~vhen such ~round rente, premiums, taxes, and aeeeeementa w?ill Leoome ddinquent, ~ euch ~ms to be held by Mort~,~geeint~usttopsp~d~roundrenfe,P~~,~~,andepeculaeeeeeaneuts. ~ (b) T6e aggregate of the amounts pe? pureuewt to eubpara~?ph (s) and thoeeps oa the note eecured ~ hereby, shall be paid ia a sing~e p~syment each manth, to be applied t~o t6e i~ it~ems in f6e oidot stated ~ m ~na ~r8, t~a s~a a~a ow~ ~a ~u~ee p~e~iums; . ~ (II) interest on Lhe note secured Lereby; aad ` ~ (IIn umortisation af tbe principal af ~sid note. Any de~iciency in the amount of auch~greg~?te monthly psyment sLaD, nnlees made ~ood by the Mort- ~ gsgor prior to the due dste of the neat such psy~men6~ oonst~Lute a.n event of default undec thia mort~age. At Mortgagee's option, Mortgagor ~vill pay a"late charge" not exceeding fouc per centum (4~Jo) of any instaU- ~ ment when paid more than fifteen (15) dslys after the due date thereof to oover the ~f.ra expense involved in Landling delinquent psy ment8, but auch 'late chsrge" ahall no6 be psyable out ot the pmceeda of any sale ; ~ made to eatisfy tbe indebt~dness ~ecured hereby, unless such pmceeds are su~cient to d~echsrge the entirs ~ ~ indebtednees and all pmper costs snd expensea eecured thereby. ~ 3. If the total o! tl~e pay~nents mscle by• the Mortgagor under (s) of parsgrsph 2 preceding shall exceed ~ the amount o[ pa~ menls actually made b~ the Mortgagee, as truatee, for ground renta~ taaes snd assesarnents, and insurance prnmiun~s, as the case may be, such excess shall be credited on subsequenL paymenta to be made =+y"~ b~ the Mort agor for sucL iten~s or, at Morigagee's option, as trusf~ee, ahall be refunded to Mortgsgor. If, >E^' G ~ ho~vever, eue monthly~ pavmenta sha11 not be su~cient to psf auch items ~vhen the same shaU beoome due ~ swd pa-sble, then the Mortgagor ahall pay to the Mortgagee, as lrustee, any smount neceesary to make np ~ the d~ciene~. Such ps~-ment shall be made ~vithin thirty (30) davs sfler wmtten notioe from the Mortgages --~~~_~_-,y. stating tbe amount oi tho deficiency-, wLich not~ca msy be gi~en b~ m~il. If ati aa~ time Ws Mort~gagar ~a~l ~p 235 ~~r.: =1071 . _ ~ _ - ~ _ _ - k_r~~:~.