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Home My WebLink About0213 ~ ~ • ~ . The Mortgagor hemby oovena~ts with the Mort~af;ee~ thut he is inde[eaaibly aeiud ot said land in !es simple or such ot6er estrtet d aay as is stwt,ed hereia; that he has tull power u?d l~wtul right to oonvev t.he anme as ~?toresaid; t,ba~ t6e l~nd is free ~rom all encumbr~?ncee e~ccep6 as berea otherwiae recil,eii; t,hat aaid~viortg~os will malce such tur4her aesuranoes to provo the atoreeaid tiU~-to eaid laad in s~id Moctgagee ns msy be rewan- ably~eq uiced. and that said Mortgogor does hereby fuUy w~rnat We LiWe b eaid lsnd~ sad every part thereot. ~nd wiU detead the sams agsinst the l+?wf ul cl~ims ot all perewas whomuoever. Paov~osn A~~?~YS tha~ it tha I?toHgagor ehall pay unb the Morigogee Wat oertain promiesory aote~ oi which tbe Wllowing is ~ subst,ant,iMl coPy~ to wit: = 33,900.00 Stuart ~ ~O"~ . - May 12 •1977. Fos Yu.us Rscuvsn~ the undereigned promiee(s) to pay b SOUTHERN MORT(~AGE ASSOCIATES, INC. authorized to do business in the State of Florida - ~ s oorporation o~aniaed aad e~ostit~ uader the laws ot Arkansas . or order~ the principal sum ot Thirty three thousand nine hundred & no/00--------------- 33,900.00 Wich u?te*est irom da?te at the rate ot eight & one h81f per centum ($.5%) per annum on tbe unpaid balanoe until paid. The said principal and interest shall be payable et t6e o~ce of Southern Mortgage Assoeiates, Inc. 1999 S.W. 27th Avenue ~ Miami, FloY'id8 33145 ~ , or at such other plsc~E aa the.hdder msy deeignate in ~vriting delivered or mailed to the debtor, in monthly instatlmenta of q'WO hundY'ed sixty & 82/00- 2b0.82 ~Q?mencing on the fust day of J~e . 19 ?7, and oontinuiug on the first dsy oi each mont6 thereafter unW this note is fully paid, ezcept thst, it not sooner paid~ the finsl psyment of pri.ncipal and in~t shell be dus and payable on the first day of pp Y•il z0p 7 ~ • privilege is teserved to prepay st any time, without premium or fee. the en~ire mdebtednees or sny part thereot aot less t6an the aQwunt oi one inst~llment. or one hundred dollus (;100.00). vifiichever is less. Arepaymeat in full shaU be ccedited on t6e date received. Pattial prepayment, other Wsa oa m insWiment due date~ need not be credited uatil tde nest [dlowin~ i~stallmeat due date or tl~tty days atter such prepaymeat, whic6ever is earijer. It ~ny deficiency in the pa~m ent of any installment under this note is not made good prior to the due date of the nezt such installment, the entire principsl sum and accrued intereat shall at once beooma due and Fay- able without notice at the option of the holder ot this note. Fsilure to exercise Lhia option shall not oonstitute o waiver of the right to~e~uercise the same in the event of any snbeequent default. In the event of defsult in the psyment of thia note, and it the eame is collected by aa attorney at law, the undersigned hereby agree(s) to _ psy all ooste oi collection~ including s reasonable sttorney's fee. - This note is eecured by mortgage of even date eaecuted by the undersigned on ~artain property deecribed therein and representa moneg sctua7ly used for the acquisition oi sai property or the ' provemen n. * Preeentment, protest, and noticr+ are hereby waived. - ~ n E. [sgr?i.] . - [s~] Deborah Hendry ' [~J i - Md shall duly~ promptly~ and fuUy perform, discharge, execute, ettect, complete~ and comply with and abide by each and every the stipulations, agreements, conditions~ and covenants of said promissory note and of this mortgage, then this mortgage and the estate hereby created shaU e~s~e and be null and void. ~ ~he Mortgagor further covenants as follows: ; 1. T6at he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, ~ without premium or fee~ the entire indebtedness or any part thereof not less than the amount of one installment~ or ~ one hundred dollars (i100.00), whic6ever is less. 2. In order ~norr full}• to protert tlu~ ,~•~~uritr of this niortKa~;~~, th~~ ~tortga~or, tog~th~r with, and in addition ta, th~ monll~l~- pa~•n?~nts tuid~r tlu• tc~rnis ~?f tlu• no~e sf~c~ur~~~l l~e•reb~•, on th~• fint dar of ~a~h month until thc said not~• is full~' pai~l, Nill pu~~ to th~~ ~1ortKu~~~•, us trust~r, (und~r th~~ t~•ru?s of this trust ae }i~rein- aft~r statect) thc follow-i~i~; swns: (s) A aum equal to the ground rents, J any, neat due, plus the premiums that will next become due and payable on policies of fire and other hasard insurauce covering the mortgaged property, plus taxes and assessments next due on t6e mortgaged property (all as estimated by the :~tortgagee and of which the '.4tortgagor ia notiSed) lesa all auans already paid therefor divided by the number of months to elapse before one moath prior to the dste when such ground rents, premiums. taxea, and assessments will become delinquent, such sums to be 6eld by Mortgageeintrusttopsysaidgrouadrents,premiums,taxes,andspecialasseasments. (b) The aggregate ot the amounta payable pursuant to subparagraph (a) and those payable on the note secured 6ereby, sha11 be paid in s single payment each month, to be appGed to the following items in the order ~ stated (n grrwnd rents, taxes, ass~menta~ Sre, and other bazard insurance premiuma; (II) interest on the note eecured hereby; and ~ (III) amortisetion of the principal of said note. ~ Any deficiency in the smount oi sucha~r c~ate monthly payment shall, unless made good by the Mort- ~ gagor pr~or to the due date ot the next suci? pa~•ment, const~tute an event ot detault under this mortgage. At Mortgagee's option, Mortgagor will psy a"late charge" noL exceeding fow per centum (4°Jo) ot any instali- ment when paid more than 6tt,een (15) days sfter Lhe ciue date thereof to cover the extra expense involved in ~ handling delinquent pavments, but such "late charge" ahall not be payable out of the proceeds ot any sale macie Lo satisty the mdebtedness secured hereby, unless such proceeds are aufficient to discharge the entire indebtedness and all proper costs and expenses secured thereby. 3. If tlie total of ihr pa~•m~~nts ~ua~l~~ h~- th~• \lort~u~or und~r (a) nf pnra~rapl? 2 pr~c~din~ shal) exceed tI1C SIIIOU(lt O~ F1S\'lll('1115 HCQUI~I~' IIINIIf~ b~' ti~t• ~tort~;a#;~•~•, as trust~•r, for Kroun~l r~~nts, taxcs and assc~menls, and insuran~•e prc~niiwns, as th~~ ~•ast• mu~•~tx~, such excess shall b~ credit~•~i on sul?sryueut pa~~ments to Ue made L~• thF ~1ongu~;or for su~le itrn~s or, nt Ltortga~e~'s option, t~4 truster, st~ali iH~ r~~fundecl to ~iortKa~;or. If, however, su~h iuont}il~• pa~•mi•nts shnil not i?c~ guffi~•i~nt to pa~- su~•h itc•n~w wh~n th~~ same shall ix~come due end po~•able, then th~ ~Iort~;u}:or shull ~~a~• to th~~ ~1ortKa~;~~~, us trust~~c~, un~- ~uununt nc~~ssar~ to make up thP de~i~ienc~'. Such pa~-nMnt shvil tx~ mu~i~ v?•iti~i~~ thirt~• (:i0) da~•s ufter Nritten notic•e fro~n t~~e ?Nongagee ststing the amount of the deficienc~, which noticr mav be gi~en by msi1. If at any time the Mortgagor ehall BooK 268 ~E 213 ~._v_ f - . ~ -