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Home My WebLink About0153 The Mortgagor hereby ccvenants vrith t,he Mortgagee, thet he is udefeasibty seized oi said land in !ee eimple or such other eatetet J any as ie atatsd here+n; ttiat he hes iuU po~cer And lewful rig6t lo couvev t,l~e sRme as ~tareasid; the6 tha laud is iree ~rom sil encumbrunces except as herein oWerwise recited; thet said7Vlortgagor ~vill meke auch turther asaurancee to provo tLe aforesaid titlR to said lend in said Mortgagee us may be reason- ablyreq uired~ and thot said Mortgagor does hereby fully warrsnt the title b said land, and every part W~ereoi, and ~rill defend the sune against the lrwful claima of all peraona ~vhomsoever. paoviDbn ALwwYS thst it the 1lioctgagor ah4ll pay unto the Mortgagee that ce~tsin promiseory note, oi which the tollowing is a subst~antial oops, to wit: = 28, 700.00 Fbrt Pierce , Fiorida. April 30 ,19 75 Fos VALUS Rsc::~sn, t6e undersig~ned promise(e) to psy Lo . TIiT IAMAS & NETl'LE'PON COi~ANY , s o~rporation organiaed and e~risting under t6e lawa ot the 3tate of Connecticut~ ~~der, tAe principal sum ot~~y ~OUS~A~~I,~ID,,~y S~EVEN •w_` [iVIWN~! and no/100-w~~~~~~~~~~~~~~~~~~~~i~N~ 2~7~7W~W ~Wl iQ1T.~GOY f~~ ~Y~ OY the rate of BTt~HT AND ONE HALF P~* centum ( 81 Per annuan on the unpaid balanoe until peid. The said principal end intereat ehall be payable at the o~ce c~ ~e j,~8 & Nettleton Caapat~}r Post Office Box 964 ~ Ylrginia Beaeh Virg3nia 23451 , or at such other plaoe as the holder may deaignate in writing delivered or mailed to t~ie debtor, in monthly installmenta oi qy,1p ~7 ~d 70~100.- ~ (i 220.70 commencing on the Srst day of ~e , 19 75, and oontinuing on the firet dsy of each month i~hereafter until this note ia iully paid, eucept that~ if not aooner paid, the fine?1 payment oi principal and interest shall be due and payable on the first day oi M~y~ ~ ppp5 • Privile~e is reserved to prepay st any time~ without premium or fee. the entire indebtednees or any part ' thereo[ aot less than the amount ot one installment, or one hundced doUars (a100.00). ~rhichever is tess. Yrepayment in fuU s6a11 be credited od the date receired, Putial prepaymeat, otber tban oa m installment due date~ need not be credited until the next [oUowing installment due date or thirty days a[ter such prepayment, whicherer is eulier. If any deficiency in the payment of eny inst+illment under this note is not made good prior to the due date of the ne=t such installment, the entire principal sum and accrued interest ahall at once beaome due snd Fay- able without notice at the option o! the holder of thia note. Failure to exercise this option ahall not oonstatute a waiver of the right to exemase tLe same in the event of any subeequent default. In the event oi default in the payment of t6is note, and if t6e same ie oollected by an sttorney at lsw, the undersigned hereby agree(s) to , pay all ooste of collection~-including s reasonable attorney's fee. This note ia secured by mortgage of even date executed by the unde*.gigned on oertai?+ ;±~+~+*+~rty described therein snd represents money actually used for the acquisition of said proparty or t~he impmvements Lhereon. Pr~esentment, protest~ and notic,~s are hereby waived. ~ -SamuP1 ~avi ~ SAMiJEL C. DAVIS --~--~s3cl J-.-~avic [SE~?L~ TERRYL J. DAVIS Is~7 [s~r?L) ' And ahall duly, promptly, and fuUy perform, discharge, execute~ effect, complete, and comply with and abide by each and every the atipulations~ sgreements, conditions, and covenants of said promissory note and of t6ia ~ mortgage, then thia mortgage and the estate hereby created shall cease and be null aad void. ; The Mortgagor further covenants as follows: j 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, ; without premium qr fee~ the entire indebtedness or any part thereof not leas thsn the amount of ane installment, or one hundred dollars (i100.00)~ whichever is less. ~ 2. In order ~uor~ fu11~• ta prote~t th~ securit~- of this mort~a~~, the Mortgagor, togeth~r with, and in ! ad~iition ta. the ~nonthl~- pa~•uicnts under th~ terrns of 1hE• note sec•ur~•cl h~~reb~•, on thr 6rst da~• of eacl~ inont)i ~ until't~he said nc~te is full~~ peid, Kill pn~- to th~ :1-iort~a~~e; as truste~, (under t:~~ t~rn~s of this lrust as herein- after stated) the folfo~ing swns: i ~ (s) A sum equal to the ground reats, if any, next due, plus the premiums that will nezt become due aad payable ~ on policiea of fire and other hazard insurance covering the mort.~aged property, plus taxes and sssessments ; neact due on the mortgaged property (all as estimated by the Mortgagee and of which the Morigagor is ~ : noti5ed) lese all eums already paid therefor divided by the aumber of months to elapse before one month ' ; prior to the date when such ground rents, premiums, taxes, and easessments will become delinquent, ` ~ such sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taxes,andapecialassessments. ` (b) The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the note secured ~ ~ hereby, ~hall be paid in a single payment each month, to be applied to the following items in t6e order ~ ~ stated ~ _ (I) ground rents, tsaes, sasessments, fire, and other haaard insurance premiums; ~ (II) interest on the note secured hereby; and ~ (IIn amortizaLion of the principal of said note. An deficienc in the amount of such # > y y~ e~re~ate monthly payment shall, unless made good by the Mort- T gagor prjor to the due date ot the next such payment, const~tute an event of de(ault under this mortgage. ~ ~ti At Mortgagee's option, Morigagor will pay a"late charge" not eaceeding tour per centum (4%) of any install- ' ment when paid tnore than 6fteen (15) dsys after the due date thereof to cover the extra expease involved in ~ ~ , hsndling delinquent payments, but such "late charge" shsll not be payable out of the proceeds ot any sale ~ ` made to aatisty the ~ndebtedness secured hereby, unless such prceeeds are sufficient to d~scharge the entire Y indebtedness and all proper costs and expenses secured thereby. ~ ~ 3. If thP total oi the pa}-inPnts ma~l~• h~- th~ rlortgn~or und~r (a) of pnrn~rAph 2 preccdin~ shall exceed t _ the amount o! pe~•inents actuall~- nie~l~ h.• t~ie :4fonKa~;ce, as truste~, for Kroun~l rt•nts, taxes and as.4es.aments~ - and insuran~e pr~~niuins, as th~ ca.sc• ~na~•~be~, such exeess shall ix• creclite~l on sui,sequent patiments to be made ~ b~• the ~'Iortgagor for su~h iteins or, at :ltortgngeP's option, as truste~, shall be refunded to Mortgegor, If, ! ` however, such n~onU~l~• pa~•mrnls shall n~t I,c~ suffi~•iPnt to pa~• su~~h itenis wh~n the same shall become due < ~ and pa~•able, then the :11ort~a~or shull pn~• to th~~ ~1ort~a~ei~, as truste~, nnr aniount necessarv to make up y the de~icienc}•. Suc~h pa~-nient SIieU tx~ ni:?~Ie~ v?ithin thirt~- (:i~) da~-s aftPr w-ritten not.ice from t}~e Mortgagee ' atating the amount of the deficiency, wl~ich notice may be giren by mail. If at any time the Mortgagor ehall 4 - dOQK ~:th~ PAGf ~ e~c~ ~ a: ~ . - = - - - ~