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Home My WebLink About2060 . iu~. The Mort,gagor hereby covenants with the Mortgagee, tLat he is indeteaaibly eeil~~P~id land in iee ~imple or such other eetate~ d e?ny aa is etated hereia; that he has tull pow~r 4nd Iswful rig6t to ooAVev the anme a~ ~fareeaid; lhst tba laad ~s iree from aU encumbrances azcept as herein otherwise recit,ed; th~t said~tortgsgor ~vill maka euch turther aesuranoes W prova We aforeesid wWe to eaid l~nd in said Mortgagee as may be rex~oA- pr sb req uired, snd t6at said Mortgagor Joes Lereby i~ ~rursnt the title to sAid laad~ snd every pirt W~ereof, aa will detend the same againat the lawtul clsima of poreoas whonisoever. PaoviatD A~wr~YS that if the l~io~tgagor sba11 pay unto tbe Mortgagee fLo~ oe~tain promiaeory note~ oi which tLe following is a subsl~antial ooPS~ to wiC: i 25, 250.00 Fbrt Pierce . Florids. Auguat 8 ~ 19 75 • FoA Vwt,trs Rscstvsu, Lha undereu~,ed promiee(s) to pyr Lo TI~ I,OMAS & NETTLE~'TON COMPAR'Y s ratioa and under the • bwe of the State of Co ~ GP~ ~D° °f 2i,TENTSC FTVE THOUSANI) 'li~ AUI~T- DRm FIFl'Y and no/100..---------- (i 25, 250.00 with interESt' irom date at the rate of ffiGHT APID ONE AALF per oentum Per snnum an t, 6 e unpu d b~ l a aoe un W pai d. 1Le said principal and iatcrest shall be peyable at the o~ce ot ~he Lomas & Nettleton Canpany P. o. Box 964 ia Virginia Beach~ Virginia 23451 , or at sucb other plao~ as t6e holder may designate iu~?riting delivered or mailed to the debtor, in monthly installments ofp~ ~~g~p NINE~i~y FpUR & 17/100~~ (i 19~.I? ~~~~cing on the fust daY ~ OCtober , 1975 , aud eonf~inuing on thc 6ret dsy oi each month thereatter until this note is fully paid~ e~cept that~ if not eooner paid, We final psyment of princapal and interest ahall be due and psysble on t~?e firat dsy of geptember 2005. . • privi]ege ia reserved ~o prepay ~?t any time~ without premium or fee. the entire indebtednees or any psr~ thereof oot leas than the amouat o[ ope instdlmeat, or one hundred doUars (=100.00), ~fiichever is less. Prepayment ia fuU s6a11 be credited on the date receired. PartW prepayment, otber than oa m installmeat due date. aeed aot be ctrdited until _ t6e next fdlowing instaUmeat due date or thirly days after wch prepaya~ent, arhichever is eulier. Ii any deficiency in the pa~m ent of sny inatallment under this note is not made good prior to tLe due dste of the nezt sucL inatsllment, the entire priacipal sum and accrued i~tereet a6sll at once beoome due and Fay- able wit6out notice at the option oi the holder of thia note. Failure to ezercise this option ahall not oonatatute s wsiver of the right to ezerr.ise the same in the event oi sny subeequent default. In the event of defsul~ in the psyment of thia note, aad if the sama is coltected by an sttorney st lsw, the undersigned hereby agree(e) to psy sll ooste of oollection, including s reasonable attorney's fee. Thia note is eecured by mortgage of even date executed by the underaigned on aertain property described thecein and representa money actuaIly used for the acquisition oi said pmperty or t6e improvements thereon. Presencmenc, protest, snd notic~s sre hereby waived. ~ f s/ Feter Chapin 7.'hurston ~g~L~ PETER G'KAPTN THUR4TON .-~~.-r -,",~e~-&.~e~,.~ [ggAt.] A.LETA G. THURSTON [s~?L] [s~] And shall duly, promptly, and fully pedorm, discharge, execute, effect, complete, and comply with and abide ! by each and every the stipulations, agreements, conditions, and oovenants of esid promissory note and of this ; mortgege, then this mortgsge and the estate hereby created shaU ~ sad be null and void. ~ The Mortgagor furt6er oovenants as foUows: ~ 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, i without premiam or fee, the entire indebtedness or say part thereof not less thau the amount of one inatallment, ot ( one hundred dollars (i100.00), whichever is less. 2_ In order more full~- to pmt~ct the securit~- of this mortgxge, the ~tortgagor, together with, and in edilition to, the monthl~ pa~-n?ents uncler the tenns of the note secured hereb~, OII IIIE' first da}• of each month until the said note is full~ paid, will pa~• to the tilort~u~~, as trustee, (under ti~e teruis of this trust as herein- atter stated) tl~e [ollowing sw~is: (a) A sum equsl to t6e ground renta, if sny, next due, plua the premiums t6at will next become due and payable ; on policies of fire and other hasard insurance oovering the mattgaged property~ plus taxes and sssessments ; next due on the mortgaged property (all sa estianated by the Mortgagee and d which the Mortgagor ia noti5ed) less ull enms already paid therefor divided by the number of months to elap~e before one month t prior to the date ~vhen such ground rents, premiums, taxes, and sasessments will become delinquent, euch sums to be held by Mortgageemtrusttopaysaidgnwndrents,premiums,ta~ces,andspecialass~ments. (b) The aggcegate of the amounts payt?ble pureuant to subparagraph (a) and thosepayable on the note gecured @ hereby, ahall be paid in a eingle payment each month, to be applied to the following items in t~e order etated: ~ (I) ground rents, taxes, assessments, fir'e, and ot6er hasard insurance premiuma; ~ (II) intereat on the note eecured her~by; and ~ (III) smortisation of the principal of said note. ~ Any deficiency in tbe amount of ~such a~gre~ate monthly paytnent shali, unless made good by the Mor~ ~ gsgor pr~or to the due date of the next such payment, const~tute an event of detault under th~s mortgage. At Mortgagee's option, Mortgagor will psy a"late cl~arge" not exceeding four per ceatum (4°Jo) of any install- ment when psid more than Sfteen (15) days atter the due dste thereof to cover the extra expense involved in ~ handling delinquent payments, but such "late charge" ahall not be payable out of the proceeds of any ssle ~ made to satisfy the ~ndebtedness secured hereby, unless such proceeds are aufficient to d~scharge the entire ~ indebtednesa and all proper cwsts and expenses secured thereby. 3. If the total of the pa~•tnents mnd~ t>v the lliortgngor und~r (a) of~ pura~ruph 2~receding shaU exceed ~ the amount of parinents actuall~- ma~l~ b~~ tj~e 1lortga~ec, as truste~, for Kroun~l rents, taxes and as.gessments, ~ and insurance premiums, as the case ma~= b~, such excess al~all be credited on subseyuent pavments to be made ~ bv the '.1~Iorigaf;or for such ite~ns or, at Mortgagee's option, as trustee, shal) be re(unded to Mortgsgor. If~ however, such monthly pa~•ments shali not t~c suffi~~ient to pa~- such items when the same shall become due ~ and pa •able, then the :~iortga~or sl?al) pn}• to the Mort~n~c~~, u.g trustee, an~• amount necessarv to mske up the de~cienc~. Such pa~•ment shall br mude within thirt~ (:t0) da~~c ufter writ?en notice from the Mortgagee ~ stating the amount of the deficienc,y, wliich notice may be given by maii. If wt iav time the~Mort¢aqor shall ~ ° R 24~ 2(~i~ ~ SODK PAG; ~:w z . ~ ~ ~ ~ = F . _ - . • ~ LL : ~ _ _ ~ .