HomeMy WebLinkAbout0287 The ~ortgagor bereb~ oov~emants wlt6 ths Mo~tgageey t~u?t bs i~ fadefeaiu'b~ ~eised oi ~sid luid in ies
rtmple or ~uc6 o Wer astate~ ~f~~ny ae is atated heaein; tLat he Las tull power ~nd la ul.right to oonvev the same
ae eforeeaid; thst t6e lAUd ~a ire~ ~mm aD encumbran~es esoept ss Lerein otherwise recit~ed; that sa~dl4tortgsgor
will mske such furthar aesuranoes to prove tbe aiaras~id title to w?id Lnd in aid Mortg~gee as mRy be rdnaon-
ablyre~ uired, and that snid Mortgsgor does Lenb~ i warraati the title to said land, ~nd ever.y p~rti We~ooi,
and ~?iu defend the same ~gainati tLe Lwiul aLims oi~ pet~om whoms,oever.
PROVIDED ALNAYe tLYt ii the Mottgago~ shalt py nntp tLe 11lottg~ee tbat oerwea promie~o,ry note, ot #
~vhich~ tLafolbw~ing is ~~ub~t~ati~l ooPl, tio t?ik i
; 29,300.00 Stuart
, April 1 •1~75 • ;
Foa ViLVS R,~cros~, the ~~~ed promi~e(i)1o py to SOUTHERN MORTGAGE ASSOCIATES, INC. , ~
authorized to do business in the State of Florida ;
Lws at State of Arkansas a ae+der tLe ~ a~~~
, , pim pa1 eum af TWENTY NINE THOUSAND THREE HUNDRED
AND 00/100------------------------------T)ollsrs (i 29,300.00 with intereet iran ds?te st `
tL~e rate at , eight pet eeatum ( 8%) Per anaum an tbe uap~id ba~aaoo unW p~id.
Zbe eaid pr;ncip.i snd interes~.ball be pqyaWe At tbe offioe ot Southern Mortgage Associ ates , Inc. ,
1999 S.W. 27th Avenue
~ Mi ami , F1 ori da , o~' ~t euah a~r pLoe as tbe ~ ms,y ~te ia writSn~
delivered or mailed to the debtur, in monthly installme~,uta of TWO HUNDRED FIFTEEN AND 06/100--Do1lars
(i 2I5.06 commencing oa the firat day of M~y , 19 75 ~ aad oontinuin~ ~ t6e
first dsy o! each month t,hereafter unt~ thia note is fully paid, eacoept tbat, if not sooner paid, the bnal paymenC ~
of principal and intereat shall be dus and pt?y~?ble on the Sra~ day of Apri 1 ~ 2005.
Privile~e is reserved to prepay st any time, witbout premium or fee, tLe entire ~ndebtedness or any pastr
t~iereof not lesa than the awnount of one installment, or one hundred dollare (i100.00), whichever is lees.
If any deficiency in the pay ment of snp installment under thia note ia not made gooci prior to the due date
_ of the next, such inatallment, the enfiire principal aut~ and accrued inten~st shall at onoe beoome dus and ~ay-
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without notioe at the option of the holder of thia aote. Failure to exem,iee thia o tion ahall not oonstatute
:r awaiver of the right to exercise the aame in the event of any eubee~quent default~ In e eveut of detault in the
payment of this note, snd if_the eame ie oollected bp aa sttorney~t.lsw, the nbdereignod hereby agree(e) to
. PaY all oosta of collec~ion~ including a reaeoriable aLtor~ej'o fee. .
This nota is seeured by mo of even'dat,q e~tecuted by the imd
~areigned on eertain pmpe~rty'deecribed
therein and represents money ac~~ used for thi~ soquiaition oi eaid properttiy o~r ZLe improve~ments i~~eon.
Presentment, protest, and not~i,oe are Lereby ~vaived. _
~s/ R~chard urse [~;f ~
Richard J. Urso
(s/ Janet S. Urso ~~y~
Janet S. Urso
~
Md ehaIl dulY, P~P~Y, ~d ~Y P~o~, ~b~, execute, egect, eomplete, aad e~mply with aad :bids
by each and every the atipulateona, a~+eementa, omditions, and eoveasats of eaid promieeory. note aad d-this
~no*taage, thea thia mortgsge aad tlie estate hereby erested ~hall oexee and ba null and troid.
' Tbe Mor~t~or further eove~ants as follows:
j 1. Thst he ~villps
y the iadebtedness, ae hereinbefae pmvided. Privt'k~e ie reeerved to P~'eP~Y ~~Y t~s
~ without premium or fee, t6e ~tire indebtednees or auy psr6 thereof nat ]~ees thsa the amount of one io~tallment, ot
~ one hundred dolisra (i100.00), ~+hichever is leee. . -
~ 2. In order n~ore fully to protect the securitp of this mortga~;e,~ the Morigagor, together ~vith, and in
~ addition to, the monthl~• pa~~nents under the terms ot the note secured hereby, on the first dav of each month
~ w~til the said note is fu~ly paid, will pay to the I~iorigagoe, as trustee, (under the terms oi this trust as herein-
al~cr statcd) t}?e following aums:
ta) ? sum equal to the ground rents, if any, ne~ct d~e, plus the p~+emiuma that ~vill next beootne due and peyeble
on policiea of fire and other hasard ineurauce oovering the mortgaged ptoperty. ptus ts~ces and sesessments
nezt due oa the mortgaged property (all as estimated by the Mortgagee snd of which the Mortgagor is
noti6ed). less all wms alreai . paid tber~for divided by the number af mmths ta~e1ape;e before one month
prior to tbe dats~wheu su~ ~ound rents, pretniuma, taxi~s, and aeeeesmenta ~vill tie~wme delinquent,,
~ ~ ~ such eums to be held bq Mortgagee~ntn,sttopsy.sid~+oundrenta,P~~,~,iadspecisl,ieeeeamente: •
~ (b) The aggregate of t~he amounts pa e pureuant to aubparaaraph (s) and thoeep~y~~ on the note eecuced '
; bereby, sball be psid in a~PsYment esch month, to be ~?ppiied W t6e f~liowing items in 1he ordet
~ stated. ~
~ m~r~d r~ta, tuas, .ee~a,eata, 5ra aaa a~ ~a iaeur~eo premium.; .
~ (In interae~t on the note secured Lee~eby; ~nd
` QIn amortiutian of t6e princip~el of ~aid note.
h Any deficiency in the unount of aucLaggregste monthly ~ayment aLaD, unIees made ~ood by the Mort~-
~ gagor pnor to tbe due date o[ the neat. such psymen6, oonst~tute ~n avent of defsult under thia mort~age.
° At Mortgagee's option, Morig
agor w?ill psy a"lace char~e~~ noti eaoeed~ iour per cent~m ot sny ~r~cau• I
~ ment when paid more than Stteen (15) daye aftier the due ~~ts t6ereoi to oover the eictrii expense involved ia
f handling delinquent ~syments, but such "late charge" shell not be psyable out of the proceeds of any eale
made to eatisfy the indebtedne.ss secured hereby,.unl~s such proceeds are su~cien6 t~o diecharge the entire
~ indebtedneas snd all proper costs and expr.nses secured thereby.
~ 3. If the total of tl~e paymente made by• the Mortgagor under (s) of paragri?ph 2 preceding sl~all exceed
~ tlie amount o[ pa~ ments actually made b~ the Mottgagee, as trustee, !or ground renta, taxes snd asseeaments,
and insursnce prem~ums, as tl~e caae tnay be, such excess sliall be credited on subsequent payments to be made
~ b~ the Mortgagor for sucli items or, at Mortgagee's.option, as truatee, shall be refunded to Mortgsgor. 1t,
~ however, sueh monthlf pavmenta ehall not be auffic~ent ~t,r, pay anch items when the same shall become due 4
a„d pa~
able, then the Mortgagor s)~all pay to the Mortgagee, as ttustee, sny sn?ount necessary to. make up
t~hP def`iciencr. Such ps}~ment el~all be made ~vithin thirty (30) dsvs after wntten >>otice !mm the 14lnrtgeges
ststing tLe amoun~ of the deficianay, ~hich not~ce may be gi~en by mi?il. Ii ~t aa~ time tbe Mortgagor ~1
80~K ~cJO PAf~'
_'L~+ , z2 , - , -
SY~i +5. ,45s,>a Y+ 5 :.E V4f7~~~y~°~+^~~.'~
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