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Home My WebLink About0070 The bSorEgugur Lereby covenenLa with the Ziortge~eP~ that he is inde(casibly seized oi said lend in fee . oimple or sucb ot,her estatet d any as is atut,ed herein; t~hat he has full po~der and Iswiul right to ooovev the sRme ae ~taresaid; tha~ the lund is iree ~rom all encumbrances except es hercin ot.t?erwisa recit~ed; tbat saidZviortgagor ~vill make such tur~her asaurancea to provo the Joresaid tit,le to said land ia said Mortgagee as may be reason- ablyrequi~ed~ r?nd t,bat s~id Mortgagor does 6ereby fully warraut the LiWe to said land~ and every p~rt Lhereot~ ~,nd w?ill defend the aame against tbe lawful claims oi all persons ~vhomsoevar. PROVIDSD AI.~1/AYS LD~t it the ?~ioctgagor ahall p~y unto the Mortgsgee tL~t oert~sia pmmissorq note, oi which LDe toUowin~g is ~ substantial oopf~ to wi6: i 29,000.00 Fort Pierce ~ March 23 .1978 . Foa Vru.us R~cuvsu~ t6e undersi~ed prom;se(s) to pay to Southern Mortgage Associates, Inc., authorized to do business in the State of Florida~ . s oorporation organised and e~ostina under the laws of Arkansas ________or order, the principal sum of Twenty Nine ThousSnd and No/100------- ~ollars (i 29, 000 . 00. wnth interest lrom dste at Lhe r~?te d Eight 8nd 3/4 per oentum ($.75%) per aanum on t6e unpaid balanoe unW paid. The asid principal and interist shaq be peYable at the oS'ice of Southern Mortgage Assoclates, Inc., 1999 S.W. 27th Avettue, Miami, Florida ~ , or st such ot6er p1aoE se the holder may designste in writing delivered or mailed to the debtor, in monthly instaliments ofTwo ?'undred Twent;? Ei~'ht (i 228.15 ~~~cing on the first day of ".gy , 19 78, ~d oontin Srst day oi each month thereafter until this nots is fnlly paid~ except that~ if not eooner paid~ the Snalpsyment of principai ~nd 'u?tei'est shall be due and peyable on the first day of A-~rii ~ 20^S • privi]ege ia reserved to prepay at any time~ without premium or tee. t6e entire indebtedneas or any patt thereot not less t6an the amount o[ one instaUmeni, os one hundred dollats (;100.00), whichever is less. Ptepayment in tull sDaU be credited on We date received. Putial pcepayment, other thm on an insWlment due date, need not be credited until the next foUowiag instaIImeat due date or thirty days atter such prepayment, vrhic6ever is eulier. If sny deficiency in the payment oi any installment under thia note is not made good prior to the due dste of the next such installment, the entire principsl sum and accrued interESt shell st once become due and pay- able without notice at the opt~on of the holder oi this note. Failure to eaercise this option aLsll not oonatatute ~ a waiver of the right to ezercise the same in the event of any subsequent default. In the event oi deisult in the psyment of this note, and if the ssme is collected by sn sttorney at law, the undersigned hereby agree(e) to pay all ooste of collection~ including a reasonable ettorney's fee. This note ia secured by mortgage of even dste ea~ecuted by the undersigned on certain property described therein and represents money actualiy used for the acquisition of said pmperty or the impmvements thereon. Presentmeat, pmtest, and notic,~, are hereby waived. W~lliam ~teven 1?nderso~ William Steven ~nderson - /s/~amela J . Anderson [s~r?t;] • Pamela J. Anderson [~?L] - ~ ~ [s~) ~ And shall duly, promptly, and fuUy perform, discharge, execute, effect, complete~ and comply with snd sbide'~ ~ by each and every the stipulations, agreements, conditions, and oovenanta of aaid promissory note and oE thid.t mortgage, then this mortgage and the estate hereby created shall ceage sad be null and void. The Mortgagor further oovenants as follows: 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay st any time, without premium or fee~ the entire indebtedneas or any part thereof not less than t6e auiount of one installment, or one hundred doUars (a100.00), whichever is less. Prepayment in [uU shafl be credited on the date received. Partiat prnpayment, ot6er than on an installment due date, need not be credited until the next following installment due date or thirty days after such prepayment, whichever is earlier. 2. ln order mor~ full~• to protect th~~ st~curit~• of this mort~age, the ~tortga~or, togetlier with,~and in addition to, the monthh• pa~•ments under the terms of the note sPCUred 1?~reb~ , on thc first da~• o[ each month until tl?e said ~wte is fullr paid, will pa~• to tF~e ~~Iort~a~Pe, as trustee, (under the tern?s of this truat as herein- after stated) ttie (ollowing sums: (s) A sum equal to the ground renta, if any, next due, plus the premiums that will next beoome due and payable on policies of fue and other hazard insurac~ce covering the mort~aged property, plus tsaes and as.~essments next due on t6e mortgaged property (all sa estimated by the Mortgagee and of which the Mortgagor is noti6ed) less all sums 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 aeses~ments will become delinquent, such suma to be held by Mortgageeintrusttopaysaidgroundrents,premiums,t~uces~andspecialassessments. (b) The aggregate of the amounts payable pursuant to subparagraph (e) and thoaepayable on the note secured hereby, ehall be paid in a single payment eac6 mont6, to be applied to t6e following items in the order stated (I) ground renta, ta:es, assessmenta, 5re, aad other hazard insurance premiume; ~ (II) interest on the note eecured hereby; aad ~ (III) amortisation d the principal of esid note. ~ Any deficiency in the amount of such ag~regaf.e monthlq payment shall, unless made good by the Mor~ ~ gsgor pr~or to the due dste o[ the next such payment, const~tute sn event of default under this mortgage. ~ At Mortgsgee's option, Mortgagor will psy a"late charge" not exceeding four per ceatum (4°Jo) of any install- ment when pa~d more than Sfteen (15) days after the due date thereot to cover the extra expense ~nvolved ~n ~ hsndling delinquent payments, but such "late charge" shall not be pnysble out ot the proceeda of any sale made to satisfy the mdebtkdness secured hereby, unless such proceeds are sufficient to discharge the entire ~7° ~ indebtedness and all proper costs and expenses secured thereby. jV ~ 3. If the total of the pa~•inPnts nia~1~ h• thP A4ortgagor under (a) of pnra~;rnpl~ 2 precedinR shall exceed CX? _ the amount o( pa~-ments actuull~ ma~l~ b~• t~ie'.11orlKaKer, ns truste~, for ~round rents, taxes end assessments, ?ia and insurance premiwns, as th~ ~ase ma~= bP, su~h eacess shall tx~ credited on subsequent pnvments to be msde bv the Mortga~or for su~h items or, at ~tortgn~ee's option, ag trusice, shall be r~funded to Mortgsgor: If~ ~ however, such monthl~ pat•ments shall not t?c~ suffi~•ient to pa~• su~h items when the same shall become due and pa~able, thcn tl~c :~lortga~or shull pn~• to th~ Liort~n~e~~, as trustee, a~~- arnount necessary to mske up ~ ~ the de~iciencr. Such pa~-mcnt sliell be~ ma~ie witliin thirt}- (:i0) da~•a after HTitten notice from the Mortgsgee ~ = ~ atsting the amount of the deficienc3, which notice may be given by mai1. It af sny time the Mortgsgor shall C ~ ~ r•. ~ ~ . ~ ~ ~-~,~_re~~~~~