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Home My WebLink About2035 The Mortgagur hereby corenaats with the l~iortga~;et?~ that he ia indete~iblv seized oi said lsnd in fee aimple or auch other oatatet d any aa is atated herein; that, he 6as tull power and luv?~ul right to convev tii?e same as Jaresiud; that the laad is iree ~rom sll encumbrances except as Lereut otherwise recited;thst said~VlorEb p! ~vill make euch fur~hor aesurances to provo the sforesaid title to said land in said Mortgagee as may be renson- ~blyr~ uired~ and that said Mortgagor does hereby fuUy warran6 the litle to said land~ and every part tl~e~eof~ and will defead the asme agsiast the lswtul clsima of aL~ persona wbomsoever. PROV~nsn ALw~YS that ii lhe ?1io~tgsgor ahall pey unto tha Mort.gagee t6et, cectsin promiaaury uute~ oi ~ehich tbe following is a subatantial cops, to vvit: i 14, 500.00 ~ Fort Pierce , F7orids. January 20 .19 75 - FOR VALUS RSC6IVED~ the undersi~aed promiee(s) to pay to ' TE$' IIOMAS de NB"1"I~I+EI~ON C~~ANY , a oorporation organised and e~risting under the - lswe oF -thg 8tecte" oY-Conngci,'tCU~°~ e''~er~ the principal sum of FOURTl~i THOUSAND FIVS HUrIDI~ and-----------------------•------•----no~~TS 14~ 500.00 with intec+est from date at the rate of ~jHg per oen~um ( 9 per annum on the unpaid balance until paid. The said principal and interest shall be payable at the oB'ice of ~ I~AS ~ NSRR'L~'1~OR COMPAPY P. O• Box 964 - Virginia Beach ;n ~~~a ~3451 , or at such other p1acE as the holder may designate in writing delivered or mailed to the debtor, in monthly instaUments of ppg g~ and 87~100--~~ (i 116.87 commencing on the first day of T„i~h , 19 and continuing on the firat dag of each month thereafter until this note is fully paid, eacept that, if not sooner paid~ the final payment ~ of principai and interest shall be due and payable on the first day of J~ 2005. privilege is reserved to prepay at any time, without premium or fee. the entu~e indebtedneas or any part thereot aot less than the amount of oae instaliment~ or one hundred doUus (~100.00), whichever is less. Prepayment in full shall be credited on t6e date teceived. Putial prepsyment, other than on an installment due date, aeed not be credited until t6e nent fdlowiag ir?s4llment due date or thiity days a[ter wch prepayment, w6ic6ever is eatlier. If sny deficiency in the payment of any installment under this note is not made good prior to the due dste ? of the ne~ct such instaWnent, the entire principal sum aad accrued interest ahall at once become due and ~ay- able without notice at the opt~on of the holder of this note. Failure to eaercise this o~ ption sha~l not constitute a waiver of the right to eaercise the same in the event of any subsequent default. In the event of default in the payment of this note, and if the same is coIlected by an attorney at law, the undersigned hereby agree(e) to pay all costa of collection~ including a reasonable sttorney's fee. This note ia secured by mortgago of even date executed by the undersigncd on certain property described therein and represents money actua7ly used for the acquisition of seid property or the improvemente thereon. Presentment, protest, and notice are hereby waived. _LsL.~L_ames A. pl.att [s~l JAI~S A. PLAZT - [s~r?L] _ _ (s~.~ { i ~ E (s~~.) - P And ahaU duly, promptly, and fully pedorm~ discharge, execute, etiect, complete, and comply with and abide ! by• each and every the stipulations, agreements~ conditions, and covenants of ssid promissory note and of this ~ mortgage, then this mortgage and the estate 6ereby created shall cease and be null aad void. ° The Mortgagor further covenants as follows: ~ 1. That he will pay. tbe indebtedness, as hereinbefore provided. Privilege is reserved to prepsy at any time, ~ without premium or fee~ the entire indebtednesg or any part thereof not less than the amount of one mstallment, or ~ one hundred dollars (i100.0(?), whichever is less. - ;i 2_ In order more full~~ to prot~rt th~~ s~~~•urit}- of this mort~ar~~, thc~ ~fort~a~:or, together with, and in addition to, ih~ monthl~- pa~•uients und~~r th~ ti~r~ns of ihe note s~•curc~~i h~•reb~-. on th~• fint dar o[ e~a~•h month until the st?id not~~ is full~- pai~l, will pu~• tc? th~ ~tort~n~~~, as irust~•e, (un~i~r th~ teni~s of this trust us he~rein- ~ ~ft~~r stated) ihe follo~~•in~; swns: ~ ~ ~ (a) A sum equal to t6e ground renta, if any, next due, plus the premiums that will next become due and payable } on poticies of Sre and other haaard insurance covering the mortRaged property~ plus taxes and a.ssessments ~ ~ next due on the mortgaged property (all ss estunated by the Mortgagee and of which the ~Iortgagor is ' ~ noti6ed) less all sums already pa~d therefor divided by the number of months to elapse before one month ; ~ prior to the date when such ground rents, premiums, taxes, aad ss.gessments will become delinquent, ~ such sums to be held by MortgageeintrusttopaysaidgrouAdrents,premiums,taues,andspecialassessments. (b) The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the note cecured ~ ~ hereb~?, shall be paid in a single payment each month, to be applied to the following items in the order - . atated (I) ground rents, taues, as.gessments, fire, and ot6er haaard insurance premiuma; = (II) interest on t6e note secured hereby; and ~ ~ (III) amortiaation of the principai of said note. ~ Any deficiency in the amount of such a~gre~ate monthly payment shall, unless made good by the Mort- ~ gagor prior to the due date ot the next such pa~•ment, constitute en event of default under this mortga~;e. At ~'Iortgagee's option, Mort~agor will pay a"lat,e cl~arge" not eaceeding fow per centum (4°Jo) of any install- ment when paid more than Sfteen (15) days after the due clate Lhereof to cover the eatra expense in~olved in ~ Y; handling delinquent payments, but such "late charge" shall not be pa~~able out of the pra;eeds of any sale made to satisfy t6e ~ndebtedness secured hcreby, unless such proceeds are sufficient to discharge the entire 3 X`' indebtedness and all proper costs and expenses secured thereby. a; = ~ 3. If tlic~ total of ih~~ pa~•nu~nts mad~• i,~• th~ ~lortK:~};or un~l~~r (a) of pnru~?ruph 'l pre•r~~lin~; shall ~xceed ~ ~ the an?ount of pa~•~i~~nt. uctuall~- ina~l~• b~- tl~e ~lort};a~?e~~, us trust~•~•, f~rr ~?roun~l rrnts, tures an~l ussessnients, ? ~ an~1 insuran~•e pmniiwus, as th~~ ~•us~~ mu~ ber.su~h exce•s.s shal) 1?r crndit~~l on suln~•yueut pa~-numts to be made ~ ~ b~ the ~1ortKa~;~~r for su~•h items or, ut ~tortg~Fr s option, us irustec•, shall Ix• r~fw~ded to ttortgagor. If, ~ ~ however, such monti~l~• pa~-met?ts 5ha11 nM IM tiu~~•ient t~ pu~- ~u~•h ilenn w~h~n th~ san~e shull become du~ ~ and pu~•able, then ihc ~tortgu~;~~r shall pa~• t~? th~• ~tort~n~;~~~•. as truste~•. an~• :~n?ouut necc~.san- to tnake up i the de~icienc~•. tiuct~ pa~~inc•nt shall b~• nia~l~~ Hithin thirt~- (:i0) du~•s ufter Hritten noti~e fro~n t~~e :1~fortga{;ee ~ ~ stating the amount of the deficienc}-, ~~hir.h notic~ ma3 be ~iven by mail. If at. any time, t6e tiiortg or shall ~ ~ ° ~ 235 2U3~ ec~~ ~ ~ _ ~ . _ _ _