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Home My WebLink About0110 The Mortgagur hereby covenanLa witti t6e Mortgagee~ thst 6e is indofeeaibly eoized oi said land in fee aimpte or such oLher oetate~ J~ayt oa is stated herein; that he hea tull power and lewiul rigbt to convev tho same as aforesaid; that tha taud is irua ii'aIIi 8II ERCUIIlblBllL~S CXCCP~ 5S ~18i'8tI18i~18ri~IS8 T2~ii~8i~; that said~iartgagor will make auch further assurances to provo Lhe aforessid title to said land in esid Mortgsgee as msy t,e rn.uson- •blyrequi~ed~ and th~t said Mortgagor doee herebp fullp warrwt the titte to said lsnd, and every part W~ereot~ ~ad will defend the eame aga?inst the lawiul cl~ims oi sU peraona whoao.soever. PROYIDSD ALWAYB tLLL lj ~I18 A~O~f$BgOt 6htu pNy UIILO ~ MOtL~~86 L~dL Ce[f~81D pi'OIIL.9801~? DO~, oi whic6 the following is a subatwWal oopf, to wit: = 22,000.00 ' Ft. Pierce' ~ ~On~ July 28 ~ ~ 1976 . ~ Foa Vwi.us Rscstvw~ the undersi~ed promise(a) to pay to CITIZENS FEDERAL SAVINGSf& LOAN ASSOCIATION`OF ST. LUCIE~COUNTY America . ~~rporatiouu organised and e:isting under tha lswe ot United States Of or order, the principal sum of Twerity Two ThOUSa2id & NO/100--~ 22 ~ 000. 00~ with interest from date at the rate of Eight- & One-Half per oentum (8 ~ 5'°Jo) per annum on the unpaid balance until paid. The said principal and interest ahall be payable at the office of ~ 1600 South Federal Highway ~ ~ Ft. Pieree, FlOrids ~ or at such other place sa the holder may desi writing delivered or mailed to the debtor, in moathly inatstUments of One Hundred Sixt~ Ninegl~ Dollais 169.18 commencing on the Srst day of Septe~nber , 19 76, and oontinuing on the S~t dey oi each month thereafter until this note ia fully paid, except that, if not eooner paid, t6e finsl payment of princapel snd interest ahall be due and peyable on the 6rst day of August ? 2006. privilege is reserved to prepay at any time~ without premium or fee. the entire indebtednees or anp psrt thereot not less t6an tde amount of oae inataUment, or one hundred dollars (a100.00), whichever is less. Prepayment in [ull s6aU be credited on the date received. Putial prepayment. other thm oa aa instaUnient due date, need not be credited until the nent [ollowing itistallmeot due date or thirty days atter such prepayment, whichever is earlier. If sny deficiency in t6e paym ent of any installment under this note is not msde good prior to the dus dete of the neut such installment, the entire pri~n~cipal sum aad accrued intereat shall at once be~wme due and Fsy- sble without notice at the option o! 6~e-holder of ttia note. Failure to exercise this option shall not oonstatute s waiver of the righ6 t~o exercise Lhe same in t6e event of any subeequent default. In the event of default in the payment of this note, snd if the same ie collected by an attorney at law, the wndersigned Lereby agree(e) to pay all costa of collection, including a reasonable attorney's fee. This note ia eecured by mort~a~e of even dste executed by t6e underaigned on c~rtain property described therein and repreaenta money actually used ior the acquisition of said property or the improvemente thereon. Presentment, prQtest, and notias sre hereby waived. ' ~ j.l 1 1 am [N _ Cunningham " [s~?~,] ~Rosa M. Cunnin4ham ~ ~~L~ i ~ - - - i (s~r?L] I And ahall duly, promptly, and fully perform, discharge, execute, etiect~ complete, and comply with and abide ~ by esch and every the stipulations, agreements, conditions, and covenants of said promissory note and of this ~ mortgage, then this mortgage and the estate hereby created shall ceage and be null and void.. , The Mortgagor furt6er covenants as follows: ~ 1. That he will pay t6e indebtedness, as hereinbefore provided. Privilege is reserved to prepay at sny time, without premium or fee~ the entire indebtedness or any part thereoi not less than the amount of one installment, or one hundrEd dollars (i100.00), ~hichever is less. 2. In order n~or~ full~- to protc~~t the securit~~ o( this mortKa~e, thc ~lortga~or, together with, and in addition to, th~ nionthl~- pa~•nients under the terms of tl~e note se~ure~l h~~reb~-, on /he first da~~ of cach rnonih until tl~c said note is full~• paid, v?il1 pn~• to th~ ~1ort~u~;~e, as truste~r (un~ler th~ t~rms of this trust ~s herein- aft~r statcd} t}ie follov~ing su~ns: (a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable on policies of Sre and other hasard insurance covering the mortgaged property, plus taxes and asse.ssments ~ next due on t6e mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is notified) less all aums already paid therefor divided by the number of months to elapse before one month prior to the date when such ground rents, premiums~ taxes, and assessments will become delinquent, auch sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taxes,andspecialassessments. (b) The aggregate of the amounts payable pursuant to subparagraph (a) and thoee payable on the note 4ecured ~ hereby, ahall be paid in a single payment each month, to be applied to the following items in the order ~ etated (I) ground renta, taaes, asaessments, fire, and ot6er hazard insurance premiuma; ~ (II) interest on the note secured hereby; and (IIn amortiaation of the principal of said note. Any deficiency in the amount ot such a~re~ste monthly payment shall, unless made good b} ~he Mort- gagor pr~or to the due date o[ the next such payment, const~tute an event of default under this mortgage. ~ At Mortgagee's option, Mortgagor will pay a"late cl~arge" not exceeding four per centum (4°Jo) of any install- ~ ment when paid more than Sfteen (15) days after the due dste thereof to cover the extra expense ~nvolved in ~ handling delinquent paqments, but such "late charge" shall not be psyable out ot the proceeds of any sale ~ made to satisiy the indebtedness secured hereby, wiless such proceeds are sufficient to d~scharge the entire ~ indebtednesa and sll proper costs and expenaes secured thereby. 3. If the lotal of t1~e pa~-ti~ents n~n~i~ b~• thP ~4ort~u~?or un~l~r (e) of para~ruph 2 precedin~ shall exceed tlie amount of pa~•menls actunll~ ma~l~ br tlie ~tortKa~ec, as trustec~, f~r Kround n•nts, tu?ces and assessiiients, and insurance pr~miwus, as th~ case ma~~ bc•, such excess shall lx~ creditecl on su}~sc•quent pa~•ments'to be made b~ the tiiortga~;or for su~h items or, ut :~'[ortgnRP~'s option, u.g trustee, shall be r~funded to MartRaf;or. 1f, however, su~h monthl~• pa~•mcnts shail nM tx• suffirient to pa:: stt~h iteins when the same ahall become due and po •able, then tLc 14fortRagor shall pn~• to th~ `tortgn~;~~~, us truste~, an~- an~ount necessarv to make up the de~cienc~. Su~h pa~•ment slit?II be ~na~1e v?itliin-thirts~ (:i0} da~•s uftPr written notice from tl~e Mortgagee _a_.'-_ .1. . . i • r ~a • • f . _ • • f ' _