HomeMy WebLinkAbout0964 .
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The Mortgagor hereby oovenaats wiW the Mortgagee~ t~at~ he is indeteaaiWy seised oi said laad in fes
~dmple or euc6 othsc entats~ J aq~ a~ is at~ated herein; tlwt he has IuU power ~nd tawiul righ~ b oonvev the snme
, as sioe~e~sid; tLaO the 4nd u iros ~e~om aU eaeumbranees ezoep~ aa 6ee+ein oWeewise recited; tha~ sud~viortgagor
~ will maks such furtber ~sururoa Lo p~ove tde doc~esaid wtt~ to wid l~nd in said Mortgagee as ~na~ bs reawn-
req uired~ ~ad tba~ sa~d Mortgagor does hereby t ~rarru~0 tbe titas b said land. snd every psrt tbe~+eot~
wiU defend ths ~aa~s agsiu~~ ths 4~riu1 daims of~ pe~~ons whomsosver.
PiOr1DiD A6NAYS thst ii t6e Mortgagor sball pay unto t~hs Mortg~ges tba~ as~t~ain prumia~ory note, d
whics ths toUowiag is a.wb~tant~i~l ooPJ~ to wiL:
= 37,900.00 Stuart , Ffoeida,
February 2~19 7?.
FoR V~?s Racstvsn, the uade~igned promise(s) b p~y to
SOUTHERN MORTQA(iE ASSOCIATES, INC., authorized to do business in the
State of Florida ~ ~ ~ ~ ~
lsws of Arkansas , or order, tbe principal sum of Thirty seven thousand nine
• hundred and no/00------------ nd?,?~ ts 37, 900 . 00 w~th int~erest from c~ate st
t~e rste at eight per ceat,um ( 8%) Per annum an tbe unpaid bslanoe unW paid.
Tbe esid priaaipsl sad iatereat shall be payable at the o~ce af Southern Mortgage Associates,
1999 S.W. 27th Avenue
1II Miami ~,F~.or~a ~ or at such other plsoe as the hdder msy deeignate in writiaa
delivcred or mauea to debtor, in monthly instaumenta of ~j'Wp hundred seventy eight~'7~
~i 278.57 oommeacing on t6e Srst dsy of ApZ'il , 1977 , and oontinuina oa the
first day oi each mont6 thereaiter until tbis aote is fully paid, except t~Li?~, if not sooner paid, the final psyment
of princsp~l and interest a6a11 be due and payable on the 8ret dsy of February, 2007. •
Pri~iie~s is reeerved to prepsy at any fime~ without premiaan or fee. the entirs indebtedne~ or sny Pait
thereof aot lat t6an tbt anwunt oi ooe iastaUmeat, or one 6undred dollus (=100.00), Rhichaver i~ le~. Prepaya~ent w tuU
s6aU be credtted on the date reoeired. partial prep~yment, other t6an on an ia:Wlment due date, aeed not be credited until
the nezt idlowlo; taaallment due date or thirty days atter wch prepayment, whiche*er h ~aeiier.
If an~ defic;ency in the payment of any inataqment under t,Lis notie ia ~t made good prior to tLe due date
of the ne:t such installment, We ~tire principal sum snd ac,~xued interest ehall sL onoe beoome dus and ~ay-
i?ble wit6onti notice st the option of t6e holder of thia note. Failure to ezercise this option s6all not oonsvtute
• aaiver oi tha right tu ezercise the same in the event of sny subeequent deisul~. In the event of defanlt in the
payment of thia note, and if the same ie oollected by an sttorne~ at Iaw, the nnderaigned hereby agree(a) to
p~~ all oosta of oollection, including a reasonsble attorney's fee.
Thie note is eecured b~ mo ~ag~ of aven date ezecuted by the underaigned on aert~in propertj deecribed
tb~erein and repreeenta money aat~ually used for t6e acquisition of said property or the improvements tbe~+eon.
Preeentment. protest. and notice are hereby vraived.
~ ~~L~
Robert C. Sandor
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/ Q~~~-..~
Patricia Ann Sandor
[s~]
~ And shall duly, promptly, and fully pedorm~ discharge, execute, etfect, complete, snd oomply with and abide
by each and every the stipulations, agreements, conditiuns, aad covensats of esid romissory note and ~ t~hie
~e
~ mortgage, thea thia mortgsge and the estate hereby created shall ceaee and be nuU aa void
, The Mortgagor further oovenant8 as followa:
1. That he ~vill psq the indebtedness, as hereinbefore pmvided. Privilege ia res~.rved to prepay at any time~
without premiam or f~, the eatire indebtedneas or any part t6ereof not leas thau the amount of one installment, or
one hundred dollars (i100.00), whichever ia lesa. #
2. In order more fully to protect the securit~- of this wort~age~ the ~•lortga~or, together with, and in ;
addition to, the monthl~• pa~ments unJer the ter~ns ot the note securccl herebr, on the first cls~ of ca~L ~nonth i
until tLe seicl not~ is full~ paid, vrill pat• to the ;~~ortgagee, as truslee, (under th~ terins of this trust as herein-
efter stated) tLe fullowing suuis: ~
(a) A sum equal to the ground renta, it uny, nezt due, plus the pr+emiums that will next become due and payable `
on policies of fire and other h~sard insurance eoverinE the•mortgaged P~Pe~Y. Plus taxes and assessments ~
nert due oa the mortgaged property (all as estimated by the Mortgsgee and of which the Mortgagor is
-notiSed) less a11 auma slready p~d tberefor divided by the number d montbs to elap~e before one month
prior to t6e date ~vbea such ground r+ente, premiume, taxes, and aa~sments arili become delinqueat,
euch enma to be hdd by Mortgsgeeintniattopayesidgroundrents,premiums,ta:es,sadapecislssaessments.
(b) T6e a~te af tbe amounts ps pureuaat to subparagrsph (a) sad t6oeepayable on the note t~ecured
henby, shall be p~id in a wn~e
psymeat eaab month, to be applied to the f~towing items in the order
etated
(A 8~d re~ts, tazes, s~sm~ta, Sre, and other hsssrd insurance premiums; ~
(II) interest on the note eecured Lereby; aad ~
(IIn smorti:stion of the principal d aaid note. ~
Any deficiency in tbe nmount of suchs~gre~ate moathly payment shall~ unless niade good by the ~for~
gagor pr~or to the due dste o( t6e next such psyment, const~tute sn event of default under this mortgage.
At Mortgagee's option, Mortg
sgor wilt pay a"lste charge" not exc~ding tour per centum (4%) of any install-
ment when paid more Lhan fitteen (15) days after the due dat~ thereof to cover the extra expense involved in '
handling delinquent psyments, but such "late charge" shall not be payable out of the procee<Is of any sale {
made to sutiafy the ~ndebtedness secured hereby, unless such proceeda ue su~cient to d~scharge t6e entire E
indebtedaeas and all proper coats and expenses secured thereby. , j
3. 1f tl~e total of the patments me~l~ b~• ihe 114ortgngor uncler (a) of para~ruph 2 prececlinR shall exceed
the amount of pa}•ments actunll~ ma~le b~ t~~e ~'IortgaKc~, ax truste~, f~r ground ri~nts, taxes and assessments~
and insurance premiun~.4, as the case ina~ be~ such excesa ahall ix~ creclited on sul~seyuent ps~ ments to be made
by the Mortgagor for su~h items or, ut 1ltortgagee's option, as trustee, shall be rnfunded to Mortgsgor. If
however, such monthl~ pa~-ments shall not 1?c~ suffirient to pa~ such items when the same shall become due
and pa~
able, then the A~iortga~or shall pu~• lo tlie Mort~a~;re, ag trustee, un~ amount necesserv to make up
~ the deficienc~•. Such pa~ment shell br inade within thirt~ (:i0) da~~s nfter v?ritten notice from the MortQa~ree
~ ai~l~iug LLe amount of t~e deticiency, which nouce msy be given by mail. I[ at any time the Mortgagor sha11 ~
~ ~ri PACE