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Home My WebLink About2243 i The Mortgagor Lereby covenwts witli tbs ~Mortgage~. th~ti he is iude[e~aibl~ seised ot syd l~nd ia fes ~ia~ple ot 4uch otber atat~e~ ~i aqy s~ is ~tated herein; tha6 he haa tull powec ~nd lnwiW cigbt to ooovev the snme a~ ~toresaid; l~hat tbe ir?ud ss iree front ~11 ancumbnuoes e~ccept a herein o~herwise recited; thati wid~tortgagor wiU tnaf~e suc6 tur~her a~surances b pro~e tbe atoree~id dtle ~o said laad in said Mortgages as m~y be re~su~ ab~yrequi~+ed~ snd that said Mortg~gor does hereby fuU wuranr the title to said land, and ever~ part the~+eoi, • and will detend t6e eame ~gains~ the lswf ul daima of ~ pecsow whomsoever. PROYIDSD AL~IIATd ii the I~io~tgagos ahall ps~ unb tbs Martg~es t6s` oorLaia promieeor~? note~ oi wLich tbe folbovring is a subatan4al ooPf, to wi~: =31,000.00 Stuart July 7 ~ 19 75 . Foa VwLns Rscuvsa, ehs undeceigned promi~e(s) t~o pay to SOUTHERN MORTGAGE ASSOCIATES, INC., authorized to do business in the State of Florida . s oorporation ordanised ~ad ezis~ina under tLe 4~ ~ Arkansas ~°r °'der~ the pr'°a~al °i thirty-one thousand 31,000.00 with int~ereet from date st the rste ot eig(tt aI~d or18 q ter P~ ceatum (g 25 Per annum on the unpsid balanoe uatil paid. The ssid princips~ and mterest payable at t,he office oI Southern Mortgage Associates, Inc., 1999 SN 27th Avenue ~ 1° Mi ami Or d . or at euch ot6er plaoe aa the holder msy deeianate in writina detivered or ma~le~~o c~e~aebtor, in moaW,ly ins~llmeara ot ~y,~o hundred thirty three b.06 Dd1a~s (i 233.06 wmmencing on the first day ot August , 19 75, aad ooatinuins oa t6e fireti d~y oi esc6 month thereafter until this note is fully paid~ e:cept thst, it not sooner paid, the Snal paymen6 of princ~pal and int~erest shaU be dua u?d paysble on the first dsy oi ~ Privile~e is re~served to prepsy at any time~ arithout premium or fee. ~enentire indebtedneesor any par0 thereoi aot leu t6aa the ainount of one ~taUmeat, or one huadred doWis (a100.00). whic6ever i~ less. Yt~epa,yment W full tL~II b! CI~~~ OD ~@ di~ LlCC~Y~. Pil'~W [!1'!(t~jiRiC[Ik 0~8T ~A~11 WI iA jASLiU[~Ilt dY! ditl~ need not be credited uaW the nPact tdtowia~ InttaUmeat due date or thirty days atter sueh prep~ymeat, whicberer is eatlier. If any de8cieacy in t6e payment of sny installment under tbis note ia not msde good prior to tLe due date of the ne~ct aucL installment, the entin principal sum and accrued interest shell st onoe beoome due and ~sy- sble aitiiout notice at the option of the holder of t,bis note. Failure to ~ercise thia optaon shsll not oons4tute a wsiver of the right to e~ercise the eame in the event of any subeequent default. In tLe eveati oi default in tha payment of this note, an~l if the same.is collected by an sttorney at Lw, the nndersigned hereby agree(e) to pay all oosts oi oollection, inctu~ing a reasonable attorney's lee. ~ ~ Thia note is eecured by mo r~t.~~qe oi even dete ezecuted by t6e uAdersigned on oei~t~ain property deacribed ~ tLerein and representa money actually used for the u:quisition of said property or the impm~ements thereon. Preeentment, protest~ and notia~, are-hereby waived. [s~r?L) ~s! Mar~aret G __1C~rn [s~?r,) - [~l And shall duly~ promptly, and fully pedorm, discharge, execute, e6ect, oomplete, snd com~y with aad sbide j by each and every the stipulations, agc+eements, conditions, and oovenanta of said promissory nate and of thia ; mortgage, t6en thia mortgage and the eatate hereby created s6aU ceaee sad be null twd void. Tbe Mortgagor further covenanta as follows: ' 1. T6st he will pay the indebtedness, as hereinbefore pmvided. Privilege is re.9erved to prepay at any time, E wnthout premium or fee~ the entire indebtedness or any part t6ereof not lesa than the amount of one installment, or one hundred doliara (=100.00), whichever ia less. 2. In order n~orn full~ to proteM the srcurity- of this mottgage, the 4~Iortgagor, together with, and in addition to, ihe monthlv pa~u~ents under the terms of the note secured hFreb~, on the firsl da~ of each month ~ until tl~c said not~ is full~ paid, will pa~~ to the Mortgagee, as trustee, (uncler the tcr~Tis of this trust as herein- aitcr staLed) the following swns: ~ (a) A sum equsl to the ground rents, if any, nezt due, plus the premiums that will neat become due and payable ~ on policies of Sre and other ha~rd insurance covering the mortgaged property, plus t$aes and assessmenta nezt dne on the mortgaged property (sll as eatimated by. the Mortgagee and of which the Mortgagor ia ~ notiSed) lesa all eums already pa~d therefor divided by the number of manths to ela~pee before one month t prior to the date when such ground rents, preminms, taxea, and as~essments will beoome delinquent, ~ euch suma to be held by Mortgagee~ntrusttopsysaidgroundrents,premiums,taxes,andapecialsss~wsmenta. _ (b) The aggregate of the amouata payable pursuant to snbpsragragh (s) and thosepayable on the note secured g hereby, ahall be psid in s aingle WYment eac6 month, to be applied to the following itema in tl~e order ~ stated ~ (n ground rents, taxes, aesessmenta, Sr~, and other hazard insurance premiuma; ~ (II) interest on the note eecured hereby; and ~ (IIn amortisation of the principsl of said note. ~ Any deficiency in the~smount of auche~re gate monthly payment ahall, unleas made good by the Mor~ € gagor pr~or W the due date o[ the next such peymen~, const~tute an event of default .under thia mortgage. ~ At Mortgage8's option, Mortg t~gor will pay a"late cl~arge" not exceeding four per centum (4°Jo) of sny install- ~ ment when paid mote thur fif teen (15) days atter the due dste thereof to cover the eatrs expense involved in ~ handling•deiinquent payments, but such "Iate charge" shall twt be payable out of the proceeda of any sale ~ mule to satisfy the indebt,~dness secured hereby~ u~?less such proceeds are aufficient to d~scharge the entire ~ indebtedness and all proper costs and expenses secured thereby. ~ 3. tf the total of ihe pa~•ments mn~l~ h~ the Mortgagor under (s) of para~ruph 2 preceding st~all exceed s the amount ot parn~enls actuull}• ma~l~ b~• t~~e AlortgaKee, ss trustc~, !or grounc! rents, taxes and as,sessments, ~ and insurance pr~miums, sa the case tna~~ be, such excess aLal) tx~ credited c?n subsequent pa~ments to be made ~ bv the MorigaRor tor su~h items or, at htortgap,ee's option, as iruste~, shall be retundrd to :1~iortgsgot. If, however, such montl~l~ pa~•ments sl~ell not 1?c suffi~•ient to pa~- su~h itc~i~s w}~en the same shall become due ~ and pe~'sb1e, then U?crMortga~or shnl) pnt to th~ Mort~aRec, ns irustce, un~ amount necessary to make up ~ the de$cieuc~. Such pa~ment shall be ~nu~1e within thirtv (:30) da~•s after written notice ltom the Morigagee ~ . atating the amount oi the deficiency, which notiee may be given by mailo. R f at sny tame the Mortgagor shall ~ ~ ~ ~~Rx 24z ~2244 ~o~x 24i ~178~ _ ~ ~ 4- ~ ~ :y.-e . _ .....,~+'~f~.~_"'-5c'~,-sx.~'~°'i ~ ~~:t`. . °''F~