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Home My WebLink About1058 The Mortgagor herebr co~euan~,e ~ci',h the Mu-c~;~ef+, t6at he ia indefea::ibl seized ot eaid lsnd in tae eimple or ~uch other estatu~ i! nnv ets i3 ststed herein; tt?at he hae full power and lew~ul right to oonvev the swme as afaresaid; that the land ie free ~rom nll encumbrances eacept as herein otherv~ ise recited; tLat said7Viortgegor will make such further aasurances to provo the aforesaid title to eaid land in said Mortgagee ss may be reason- sblyreq uired, and that said Mortgagror does hereby fulty warrant the title to said land, and evory pi?rt thereof, ? and will defend the same ageinat the lawful claima of all persone whonnsoever. . PROVIDED ALWAYB t~lb~ 1( ~e ~10T~8g01' 8h~ ~)ay UIILO ~L9 MOI~8g86 ~lb~ CBTf.B1II pPpg118BOtf IIOtB, of ~?hich the fallowing ia a subatantaal cops~ to wit: = 35,000.00 Fort Pierce, ~orida. April 10 .1975 • Foa Va~.vs ~tscacvr~n~ the under8igned pmmiee(s) to pay to THE LOMAS & NETTLETON COMPANY lawa of the State of Connec ' a°O~'O1g~O° O1~D1~ °IId e'°st'n~ t'°der t6e t,ioewtler, the principai sum of THIRTY FIVE THOUSAND AND NO/100------------------------ not~a~ (t 35 , 000 . 00 with iaterest from date st the rate of EIGHT per centum ( $~Jo) per annum on the unpaid balanoe until paid. ~ The eaid principal and intereat shall be payable at the o~ce of The LomBS & Nettleton Compaxly P. o. Box 964 ~ ~ Virginia Beaeh, Vir~inia 23451 , or at such other p1ao~ aa the holder may deaignate in writing delivered or mailed to the debtor, m monthly installments of TWO HUNDRED FIFTY SIX&90/104~11ars 256.90 commencing on the first day of June , 19 75, and oontinuing oa the firet dsy of each month thereafter until thia note is fully paid, esoept-that~ if t eooner paid, the Snal payment of principal and interest ahall be due and paysble on the first day of ~ Privil'ege ia reserved to prepay at any time~ without premium or f~e ytn t eRmdebtedneee or any psrt thereof not lees thnn the amount of one mstallment, or one hundred dol~ara (=100.00), whichever ie less. If any deficiency in the payment of any inatallment under thia note is not made good prior to the due dste of the n~t such inatsllment, the entire principal sum and accrued intP,~rest shall at once become due and ~sy- able without notice at the option of the holder of this note. Feilure to exer+cise t~ia option sLall not oonatatute a waiver of the right to eaercise the eame in tLe event of any subeequent default. In the event of defsult in the ~ psyment of thia note, and if the eame ie collected by an sttorney at la~v, the nnderaigned hereby agree(s) to pay all costa of collection~ including a reasonsble attorney's fee. This note ia secured by mortgage of even date eaecuted by the undersigned on certain property deec:ribed therein and repreaenta money actiuslly used for the acquiaitioa oi ssid property or t~e improvemante tbereon, Presentment, proteet, and notice are hereby waivcid. ~,g,~(_ i~avi d WarrPn W}~i tP ~qg~y~ DAVID WARREN WHITE ls/ Brenda L_ Wh-i te ~~y~ - BRENDA L. WHITE . ~ ~s~,~ ! And shall duly, promptly, and fully perform, discharge, execute, eBect~, complete, and comply with and abide ; by each and every the stipuletions, agreementa, conditions, and covenants of said promissory note and of thie ~ mo*tgage, then this mortgage and the eatate hereby created shall c~ase sad be null and void. ` The Mortgagor further c~ovenants aa followa: 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reeerved to prepaq st any time, without premium or fee, the entire indebt~edness or sny psrt thereof not less than the amount of one installment, or one hundred dollars (=100.00), whichever is less. ~ 2. In order more fully to protect the security of this mortgage, the Mortgagor, together with, and in addition to, the monthl~• pa~mients under the terms of the note secured hereb3, on the first day of each month until the said note is fu~l~ paid, will pay to the Mortgagee, as trustee, (under the terms of this truat as herein- a[ter st$ted) the following sums: : (a) A sum equal to the ground rents, if any, next due~ plus the premiums that will next become due sad payable on policiea of fire and other hasard insurance oovering the mortgaged property, plua taxes and a~essments next due on the mortgaged pmperty (all as eatimated by the Mortgagee and of which the Mortgagor ie notified) less all sums alreadq pa?d therefor divide~ by the number of months to elapee before one month ~ prior to the date when such ground renta, premiuma, taxes, and ssseasments wi11 beoome delinquent, ~ such sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taxes,andapecialassessments. ~ (b) The aggregate of the amounts payable pureuant to subpsragraph (a) and thoeepayable on the note secured ~ hereby, ahall be paid in a single psyment each month, to be appGed to the foUowing items in the order . ~ stated ~ (I) ground rente, taxea, asaeasmente, fire, and other 6asard insurance premiuma; ~ _ (II) interest oa the nobe secured hereby; and (IIn amortisation of the principal of said note. ~ Any deficiency in the amount of suchag gregate monthly payment sha:l, unlesa made good by the Mort- gagor pr~or to the due dace of the next such payment, const~tute an event of default under this mortgage. At Mortgagee's option, Mortgagor will pay a"lette charge" not exceeding four per centum (4°J'o) of any iastall- ~ ment when paid more than fifteen (15) days after the due date thereof to cover the eatrs expense involved in ~ handling delinquent payment., but such "late charge" shall not be payable out of the proceeds of any sale ~ made to satisfy the indebtkdness secured hereby, unless such proceeds are eufficient to d~achsrge the entire ~ indebtedness and all proper costa and expenses secured thereby. 3. If the total of t.he pa~•ments made by- the Mortgagor under (s) of paragraph 2 preceding ahall exceed ~ the amount of pa~•ments actuall~- rnade bv the Mortgagee, as trustee, tor ground rents, taxes and as.geasments, and insurance premiu~ns, as the case ma~ be, such excess shall be credited on subsequent paytnents to be made b} the Mortgagor for suc}i items or, at 14iortgagee's option, as trustee, shall be re(unded to Mortgagor. If, ; ~ however, such monthl~• pa~ments shell not be suflicient to pay such items when the same shall become due ; and pa~•able, then the Mortgagor shall pay to the Mortgagee, as trustee, eny amount neceasary to make up ° ~ the de~cienc~. Such pa~rtnent shall be macfe within th'vt,y (30) davs after written notice from the Mortgsgee F ~ Stating the amount of the deficiency, which notige ~r?~~ggiven l,~yl~~ If at any time the Mortgagor ahall ' BOOK ~ PACEZU~ ~ ~ 3 . d a ~'~`~w. , j ° , ~ ~ ~ _ . . . _ . "~.e;,. - _