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Home My WebLink About2081 ' ~ uo~r ~b~ ~.~~...i~ ~ ~a~y~, tb.i ~ ~aet~~~y sei~ed ot ~sid Lnd in ies ~imple or such otber estats~ ~f_sny ~a is ~t~ted heieia;a tbatl?e bas tutl powsr und laaful,right to oonvev the s,~me se sforeeaid; tLst the laad ~a ired ~rom all encumbranoee asoept as herein otberwise recited; that saidl?~iortgagor ~vill mske such iurther ~e~suranoes to prove tLe sforeNid title tio aid Lad in said Mortgagee ~e may be reesoa• ab~yrequired, wd th~t said Mortgagor does bereb~ i~ warrant tbs titae to wid land, ~ad every patt thereot, and ~riU detend the same against tLe Lwtul oLima oi pee~c~~ wLom~oever. PROVID$D AL~IiATa ~~t ~Ie ~OT~~O~ ~Li~l ~1 OII~O ~LO MiOIt~i00 ~ti aOT~R ~OID1YY01'~ DO~A~ O~L wLich tLe~folb~ring i~ ~ wb~Laatial ooPJ, ~o wii: = 16,400.00 Stuart January 7 ~ 1~ 75 • Fos Viu.vs Rsc~, tbe nndee~ip~ed p~+ani~e(i) to pw to SOUTHERN MORTGAGE ASSOCIATES, INC. , authorized to do business in the State of Florida ~ ~ eoepoestton orpnised and eooetins nnder t6s ~ State of Arkansas ~ a~, ~ P~~~ SIXTEEN THOUSAND FOUR HUNQRED ~tND 00/100------------------------------- Ddl+urs 16,400.00 with intereet iroan date st tbe rste ot ni ne and one hal f pez oentum ( 9. 5 %a per aaaum an t~6e uap.id b~anee unW paid. Tbe esid pr;ncip4l snd inte,neet sbaIl be paysblo st tLe o~oo at Southern Mortgage Associates, Inc. , 1999 S.W. 27th Avenue ' in Mi ami , Fl ori da , or st eucL otbec pLoe as tLe Lo~ier m~y deeigae?te ia writin6 delivered or mailed to the debtor, in manthIy installme.nte of ONE HUNDRED THIRTY SEVEN & 92/10~11ara ` 137.92 ~~~cing oa the first day of February ~ 1975 ~ aad oontinuina on the ~ first day of each month thereafter until thia note is fully paid, eo~oept tbst, if not soonec paid, the Sna1 payment of principal and interest shell be due and payable on the firet dsy of ~anuary • 2005. Privile~e is reserved Lo prepay at any time, writbout premium or fee, tbe entu~e indebtednees or any par0 tLereof not less than the amoun6 of one installment, or one hundred dollara (s100.00), whichever ia leea. If any deficiency in the paym ent of ~?ny installment under this note is not made good prior to the due date ~ of the next such installment, the entire principsl sum and accrued interest ahsll at onoe beoome due snd pay able without notioe at the option of the holder of tbia note. Failure to 4zercise this option ahall not oonstrtute s waiver of the right to exerciae the same in the event of any subeequent de~aul~ In tbe event of default in the payment of this note, snd if the ssme is oollected by an sttorney at Lw, tho nndere~gned be~eby agree(s) to ' pay all oosts of collection, including a reasonable attorne~'~ fee. ~ This note is ~ecured by mo of even date~ esecuted by the ~ndeeeigned an eeet~aia propert~ deeca'bed therein snd represents money ac~ used ior tbb aoquieition of aid yr~part~y ~at ~e i~mprovamanis i~ereonr Preeentment, protest, and notio4 are Lenby ~ai~ed. Ls/ Paul Edwj,n Vauahn [~,f Paul Edwin Vaughn (~/_Rob_ert~, L. Yauahn ~~a ~ Roberta L. Vaughn [~2 ~ And ehaD dulY, P~P~3', aad fuDy pe~form, dieche?rge, execute, eSect, eoanplete, and• ~omply with and ubide ! by each and every tbe stipulations, agreeme~ta, oonditiona, and eovenanta of eaidpraon ry note and d thi4 ; mo~tgsge, theu thie mortgage and the estste hereby et+ested ahall eoaee and be null and rdd~ ~ The Mort~or further oovenaate ae followe: s 1. That he will pap tbe indebtednees, as hereinbefa+e pravided. Priv~ege ia reeerved to pe+epsy at any time, € without premium or fee~ the entire indebtednees or aqy psrt thereo~ ao~ lees t6sa tbe amount of one ioetallment, at ! one hund:-ad dollara (i100.00), wrhichever is lees. ; 2. In order more fully to protect the eecurity o[ thia mortgage,~ the Mortgagor, together ~?ith, and in ~ addition to, the monthl~ pa~-rnents under tl?e terms of Lhe note secured hereby, on the Srst dav of each month uutil the said note is fu~l~ paid, will pay to the Mortgagoe, as trustee, (under the terms of t,his trusb as herein- •fter stated) the following sun~s: (a) A sum equsl to the ground renta, if any, next due, plue the pcemiuma thst w~l nact beoome due and psyable ~ policies of fire and other hasard ineuraace oovering the rtgaged psoperty, plua ta~ces and ~esessment8 neat due on the mortgaged pmperty (~1 as estimated bypt~be Mort~agee and af which the Mortgagor u notiSed) le~ea all wms almsiy paid t6ere[or divided by t6e number af mantha to da~pee before one month prior to the date ~vhen such 6round reate, premiuma, taxee, and aeeeesnneate witl tieoome ddinquent~ ~ uch sums to be Leld by Mort~agee~ntrusttop?y~wdara~ndreata,P~~,~~,audspecial~eBeesmcnte. (b) The ag~+egate of tbe amounts pe pure~aat to s~bpara6raph (s) aad thaeepay~ an the note secured ~ hereby, s1~ll be paid ia ~ dng e~epsyment ench month, to be ~pplied W tbe i~ilowina items in tba oidot ~ statea. - m~a reat~, +~?ua ~ee~emente, 5ra aaa otha b.sa~a ;neuc~r,ee preaoiums; . ~J (In iaterEat an the note secured Lenby; aad : ` (IIn sm~rti~tian of tLe principal ot ~sid note. ; ~ Any deficiency in the amount of suchaggregtta monthly psytnent sLall, nnlees msde ~ood by the Mort~- ; gagor pnor to the due dste of the nex6 auchp s;-ment, oonatitute an event of default under thia mort~a~e~. ~ At Mortgagee's option, Mortgagor ~vill pay. a"lats charge" not ezoeeding four per centum (4%) of any instsU- ~ ment when paid more than fiiteen (15) dsys titer t6e due date th~~eof to oover tLe extrs eapense involved in s ~ handling delinquenti payments, but such "late cherge" shall not be psyable out ot the proceeds oi sny sale ; ~ made to satisfy the mdebtkdnees secure~ hereby, unle~ such pmoeeds are w~cient t~o diechsrge the entire ~ indebtedneas snd sll proper oo~ta and expenses ~ecured thereby. ~ ~ 3. If the total of the psyments macle b• the Mortgsgor under (s) of paragrs?ph 2 preceding shall exceed tlie amount of pa~ ment8 sctually made b~ t~e Mortgagee, as trustee~ for ground rents, ts~ces snd aseeearnents, ~ and insurance premiunus, sa tl?e case may be, auch excesa eliall be credited on subeequent psyments to be made ~ b~ the Mortgagor for such items or, at Mortg:gee'a option, as Ltustee, ahall b~+ refunded to Mortgagor. If, ho~vever, sueh monthly pavments ahall not be su~'icient to psy such iteme ~vhen the same ahall become due ~ snd ps-sble, then tlie Mortgagor sLell pav to the Mortgagee, as t.rustee, any amount neceesary to mske up the d~cienc~. Such ps~-ment a1~all be made ~vithin thirty (30) dsva sfler ~vc7tten f~otioe tmm the Mortgagee stating tbe amount of tbe deficienay, which aotioe mi?y be gi~en b~ ma~7. It ati ~n~ time ~s b[ortgagor ~La11 ~ = t ~ ~ 60cR?K ~J5 r~GE20~ _ ~ , _ . _ . _ . _