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Home My WebLink About1935 . Tha Mortgagor hereby oovenRat~ with the Mortgage~, tbat he is indeteaRibl saised ot iuid taad ia fes staple os ~uch other estatet J~nyf aa is staLed hereia; that he haa tult power and lo~ul rig6~ b o~uvev the anme Y t~oresaid; tL~~ tbe taad ie iree rom all eucumbranoes except as 6erein oth~rwiee reciLed; tlut eaidl~iottgagor will m~ka such tw~ther aseunnae~ Lo prova We ~toc~eeaid title co ~aid laad in said Mortgagee w ma be reaso~ ab required. snd tha~ said Mortgagoe does hereby t~y ~rarraat the title to wid land, wd svee~ par~ t!?ereot~ w~aitl defend the same ag~i.ost t,he brviul claima oi ~11 pereoos whomsoever. Paovt. ALNAYd it the I~iortgagor sh~ll pa~ unto tbs Mortgages th~t oect~in promieso~ry note~ oi whicL tLa tollowing is ~~ubt~antial ooPJ~ to wiL: i 33, 700.00 Sta~art , ~orid~. OcGok~er 6 ~ 1975 . Fos Vw~s R~cscvaa, t6s nndereigned promiae(s) to p~,y b Southem I"Io~bgaqe Ag9oCiatEB• Inc. auth~ized to do busin~s 3n the State of Fl~ida oorporat,io~n or~ani:ed and e~oetin~ under t6s Iaws oi AY'kans88 ~ or order, the ptinppal sum d th e t110uS7t1d ~eV~eA ~ htmclred at~d 00/100 33, 700. 0~~0 E~ ~ the rate of nj~ per ceatum ( 9%) Pe* aunum an tbe unpaid balmoe uatil paid. The asid principat sad interest ehaU be psye?ble a! the office of ~~,,rn ~b~tqdg~ AssOCi,ates, I11C. 1999 SW 27th Avenue 1II Mi.Bmi F1n~ da ~ or st such ot6er plaoe aa the holder msy d~aitnate in writina delivered or meiled f,o t~e debtor~ in monthly inatallm~ta of ~p h~dCeCl ~eventy~n,e &3],/100 Dollars (i 271. 31 commeacing on the 6rst day of rio~ber , 19 75 ,~nd oontinuina on the first d~y of each month thereatter until this note is tully paid. except that~ it not eooner paid, the 6ns1 psyment of princapsl and interest a6a11 be due snd p~yable on the firat day oi ,2005 . Privile~e ia reserved to prepsy at any ti~a~ without premium or lee.s~indebtedneee or say part thereot not less t6m t6e amount ot one inctallment, or ooe hundred doUars (=100.00), wrhicherer is tes~. ptep~ya~ent ia fuU shall be credited ou t6e date receired. PartW prepayment~ other t6ao oa aa instsllment due date~ need not be credited uati! tbe nent foUowing instaliment due date or thitty days sfter wch prrp~yment, ar61c6ever is earlier. If any deSciency in the paym ent oi any installment under tbia note ia not made good.prior to the due dste of tbe next auch installment, the entire grincipal sum and scr.rued intereeti shall at onoe beoome due snd Fay- able wiWout notice at the option of tha holder oi this nots. Fsilure to ezercise this option s6all not oons4tute s waives of the right to esem.iae t6e same in the event oi any subeequent default~ In t6e event oi default in the psyment of t6is note, and iI the same is oollected by an sttorney st lsw, the undaraigned hereby agree(s) to pay all eosts of oollection, including s reasonsble ettorney's fee. Thia note ia eecured by mortgage of even date ezecuted by the nnderei,gaed on oerf~aia pmparty deecribed tLerein and represenfs money actually used for the acquisition oi eaid pmperry or t~e impmvements thereon. ~ Presentment, protest~ snd notice are hereby wuived. ,[s,~ ~r~na=-~--nsbov-ne [s~.] --T~,~~--~'"°~--~.-~O~bea~ [~l . [s~l ! And shsll duly~ pmmptly, and fully pedorm, discharge, execute, effect; complete, and oomply with and sbide i by each and every the stipulations, agreements, coaditions, and covenanta of said pmmissory note aad of thie ~ mortgage, then thia mortgage and the estate hereby created shall oea~e and be null aad void. The Mortgagor further covenants as follo~vs: 1. Tbat h~ willpa y the indebtedness, as hereinbefore provided. Privilege is reserved to pr~epaq at sny time, without premium or fee, t6e entire indebtedness or any psrt thereof not leas Lhau the suiount of one inatallment, or one hundred dollara (i100.00), ~vhichever is lesa. 2. In order more full~• to protect the securit~- of this mortga~e, the V[origagor, together vrith, and in ~ addition to, the monthl~• pa~-ments unJcr the terrns of the note secured hereb~•, on the first da~ oteach month until the suid not~ is full~~ paid, v?ill pu~• to the :~'Iort~ag~e, a.s trustee, (under Ihe tern~s of thi~ trust as herein- ~ e(ter statect) thc fullov?ing swns: ~ (a) A sum equsl to the gronnd rents, if aay. next due, plus the premiums tba.t will next becorm due snd payable on policies of fire aad otber hasard insurance covering the mortgaged praperty, plus taxes and assessments i next due on the mortgaged property (all aa estimated by the Mortgagee and of which i~he Mortgagor ia noti6ed) less all sums already p~d therefor divided by the number of months to elapee before one month prior to the date ~vhen such ground reata, pnmiums, ta~ces, and ssaessments will bec~me delinquent. such sums to be held by Mortgageeintruattopsyaaidgroundrents~premiums,ta:ea, aadspecisis~ssessmenta. (b) T6e aggregate of the amount8 payable purauant to subparagraph (a) and thoee payable on the note Reeured hereby, ehsll be paid in a singte puyment each month, to be applied to the following itema in the order etated (I) ground rents, taxes, sssesaments, fire, and other hasard insurance premiums; ~ (II) interest on t6e note eecured herebq; snd ~ (IIn amortisatio~n of the principal of said note. ~ Any deficiency in the amount of such a~re~tte monthly psyment shall, unless made goad by the Mor~ ~ gagor praor to the due date oE the next such payment~ conse~tute an event oi detault under tb~s mortgage. ( At Mottgagee's option, Mort~agor will pay a"late chargP'.' not exceeding fow per centum (4%'a) of any ins~all- ~ ment when paid more than b~(teen (15) days after the due date thereof to cover the extn expense involved in f handling delinquent payments~ but such "late charge" shall not be psysble out o! the proceeda ot any sale • msde- to satisfy the ~ndebtedness secured hereby, unless such proceeda are su~cient to d~scharge the eatire t indebtednesa and sll proper costs and expenses secured thereby. f 3. If the totel of t1~e pa~•inents mnd~• b~• the ~lortgngor under (e) of paraRraph 2 preceding st:all exceed the amount ot pa.•ments actunll~ mad~ t,~• tr~e 11ortKaKe~, es trustce, for ground rents, taxes and sssessmenta, and insurance prnn?iui~is, ea tlie ca.ge ~na~~be, su~h excesa ahell be credited on subscyuent pa~~tnents to be made by the '.4tort gagor for su~h iten~s or, nt 111ortga~ee's option, as tcustec, sliall be retunded to VIortgagor. If~ however, such monthh• pa~-ments Fhall not tx~ suffi~•i~nt to pa~• sn~h items when the same shall become due and pa~-ub1e, then tl~~ l~iortgagor shull pa~• to the ~1ort~a~e~, as truste~, an~ amount necessarv to mske up the de~icienc~. Such pa~•ment shall be ~nu~le within thirl~• (30) da~•s after written notice frorn the Morigagee atating the smount of the deficiency, wl~ich notice may be given by mail. If at any titne tbe Mortgagor shall ~ - - o0~112~~ PAGE~J~ ~ _ - _ . . _ _ - - ' ~ ~ ~ . - - ~ ~ - - ~