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Home My WebLink About0278 The Mortgagor 6ereby co~ensata with t6e Mortgegee~~ thst ha is ~deteasibly aeized oi said Lnd in fee sianple or such other eststei d ony aa ia ststsd hecbin; tha6 he hos tull power and lawiul rig6t to coovev the same as afaresaid; thet tLe land ~s iree ~rom all encumbr~?nces except sa henin otherwiae recited; that said~iorcgagor ~vill mske such further aaeurancas b pmvo the aioresaid title to said laad in said Mortgagee ue may be reReon- •b r uired~ and thst s~id Mortgagor does hereby full wsrrant t6e tiWe b seud land, and every part W?erec?t, ~y eq ed and ~?ill defend t,he aame against ~he lawful oLims o! ~ persons whouisoev~: P1tOYID~D AL~IIAYd WI~L If ~9 ~TOi~~Oi BbLU 11II`O L~A MOl~YB~ 08l~III Pi'OID18B0lsl DO~~ oi which Lhe following ia ~ sub~t,wtiwl c~oP3'. to witi: i19,000.00 Fort Pierce , Florid~. July 21 .19 75 • Foa Vwi.vs Rscaavsu~ the undersigi~ed promiae(e) to p'y to ; ~ LOMAS & NETTLF.'TON COMPANY . s oorporstion organised aad e~osting under tbe ~ Isws oft~e 9tate~- ~-P~P~ ~?lI?i~.TEEN THOUSAND ancl no/100-- ----------------------------------------~dlare 19, 000. oo with interest irom date at . the rste of EIGHT AI~ID ONE HALF P~ centum ( 81 Per annum oo the unpaid belanoe until paid. = The ssid principal and interest shall be psyable at the oS'ice o~ ~e L~nas & Nettleton Company ' - . ~ P• 0. Box 964 - Virgini~ Beach - ~ f ia Virqinia 23451 , or at such other p1ecE as t,he hdder msy deeigni?te in writing ' delivered or mailed to the debtor, in monthly installments of OIV~ HLJND~ FORTY SIX and 11~100~~ f ~ 146.11 commencing on the first day of September . 19 75, and oontinuing on the ~ 6rst dsy oi each month thereafter until thia note ia fully paid~ eucept thet, if not eooner paid, the final psyment oi princapal and interest ahall be due and pay~ble on the Srat day oi August 2005 • , • j privileg~e is reserved to prepay sti sny time~ wit6out premium or fee. t6e entire indebtednees or any par~ ; t6ereoi not teas t6an the amount of one instdlmeat, or oae huadred dollass (;100.00), whichever is less. Prepaya~ent ia [ull ~ ahall be ce+edited on t6e date received. Putial prepayment, otGer t6an oa an insWlment due date, aeed aot be credited unti! j t6e nact foqowing installment due date or thitty days after such prep~ymeat, ~vhichever is eatller. : If aqy deficiency in the paym ent of any installment under this note is not made good prior to the due date ; of tha ne=t such installment~ the entire priacipal sum and accrued interest ahall at once beoome due and pay- ~ able without notice at the option ot the holder of this note. FWure to eserciae thia option ahsll not oonstatute ~ a waiver of t~he right to exercise the aame in the event of any subsequent defsult. In the event of default in the ~ psyment of thia note, snd ii the ssme ie collected bv sn sttorney at lsw, tLe undersigned hereby agree(e) to ~ psy all costs of collection~ including a reasoneble sttorney's fee. _ Thia note ia secured by mortgage of even date executed by the underaigned on c~ertsin property deacribed ~ tberein and representa money actually used for the acquisition of said pmperty or the impmvemenfe thereon. ; Y Preeentment, protest~ and notic+s are hereby waived. ~ ~ ~ fl*~ [SSAL] ' ~~~R'Y C. KE'Zi2'CW.A.M ~ [BSAL] , - - ~SSAT'~ [38AL] ' And shsll duly, promptly, and fuUy perform, disc6arge, execute, eRect, complete, and comply with and abide ' by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of thia ~ ' mortgage, then this mortgage and the eatate hereby created s6all ceaee and be nuU and void. j The Mortgagor further covenants ss follows: ~ l. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, ~ ~ without precnium or fee. the entire iadebtedness or any part thereof not less than the amount of one inatallment, oc ~ one hundred dollars (:100.00)~ whichever is less. ~ ~ 2. In order n~or~ full~ to pmtect- the sc~curit~- o( this u~ort~a~e~ t}?c :4lortgagor, toget}?er with, and in ( ad~lition to, it?e monthlr pa~-ments under th~ terins of the note secured hereM•, on the first da~ of each month ~ ~ until Uie saicl note is full~• paid, will pu}• to the ~lortga~c~~, as trustee, (under t:~e tern?s o( this trust as herein- a(ter statecl)~the fullowing sunis: _ ~ (a) A sum equal to the ground rents, if any, next due, plus the premiuma that will next beoome due and payable ° on policies of fire and other hasard insurance covering the mortgaged property, plus taaes and asse.ssments ; ~ next due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor ia ~ ~ notiSed) leas sll aums already pa~d therefor divided by the number of mont6s to ela~p~e before one month ~ prior to the date ~vhen such ground reuta, premiuma, taxes, and sssessments will reoome delinquent, ~ auch sums to be held by Mortgageeintruattopaysaidgroundrents,premiums,taues~andspeciala~ssments. ~ (b) The aggregate of t6e amounta~able pursuant to wbparagraph (a) and those payable on the note secured hereby, ahall be paid in s e payment each mont6, to be applied to the followeng itema in the order stated ~ (n ground rents, taaes, aseessmente, fire, and other haaard insurance premiums; _ (II) interest on the note secnred hereby; and ~ (IIn'amortisation of t6e principal of said note. ; C Any deficiency in the amount of such a~gregate monthly payment shall, unless made good by the Mor~ s ~ gagor pr~or to the due dste of the next such payment, const~tute an event of default under thia mortgage. ~ ~ At Mortgagee's option, Mortgagor will pay a"late cl~arge" not exceeding four per centum (4°Jo) oi any install- ? ~ ment when paid more than Sfteen (15) days after the due date thereof to cover the extra expense involved in ~ hsndling delinquent pay ments, but such "late charge" shall not be payable out of the proceeds of any sale } ~ made to satisfy the ~ndebtkdness secured hereby, unless such proceeds are aufficient to d~scharge the entire ; indebtedness snd all ro er costs and ex nses secured thereb ' ~ P P Pe . Y• i 3. I~ LIIP ~A~81 O~ tI1P ~8~ II1P(1LS IIIA(IP t~IP Mortgugor undec (a) of pura~ruph 2 precedinR shall exceed ~ ~ Lhe amount o[ pe}•u~et?ts actunU~- me~ir b~• t~~e ~1ort~a~e~~, as truster, for gr~nd r.~nLS, taxes end as.ges.4ments, ~ ~ and insuran~e pr~miun~s, ag tl~~ case u~a~~ bc•, such excesa al~sll be credite~l un subseyuent pa}•ments to be made ~ by the :Norlga~;or for su~1~ ite~ns or, at ?~tortgngee's option, a.4 trustre, shall be rnfunded to Mortgagor. If, x e1 however, su~ti monthl~ pa~•ments shall IIAL ~M SU~I~•ient to ps~• su~~h iteii~s when the same ahall become due and pa~able, then tl?e btortga~or shall pa~ to the ~1ort~a~e~, ns irustc~, sn~ umount necessarv to make up the de~icienc}•. Such pa~•mrnt shall tx~ made within thirtr (:i0) da~-~ ufter written notice (rom the Mortgagee ~ atsting the amount of the deficiency, w}~ich notice may be given by mail. 1I at any time the Mortgagor shall ~ UR - ~OOK~~ PAGE ~ , - - ` ~ ~ + +.§'P*" +~.r~ y . 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