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Home My WebLink About0682 The Mortgagor hereby covenvnts with tbe Mortgsgee~ t6~t 6e is indel'e~ib~y~~ +~i{said Lp~..in fee ~imple ot aucL other eata6e~ d any as is ststed herein; tAat he has lull power and I~wful right to ooovev tbe swme as afaresaid; tha~ the land ~s iree from all encumbrances except sa horein otherwise reciLed; that said~tortgagoi ~vill maka such further aasursnoes to pmvo tbe aforesaid title to wid land ia said Mortgagee as mv~ be reaeon- ab~yrequired, ~nd tbat said Mortgagoc doee hereby fullJ wruran6 t6e title to said land, and ever~ part theceot, aad ~vill detend the same against We t~wful claims oi W pereow wbomsoever. Paovtaaa ALa~YS t6at if the I~iortgagor shaU pay unt~o the Morigages that oertain promia~wry note~ of wbich the iol~r?ing ia a aub4tantial ooP~? 6o wi`: . = 30,400.00 Fort Pierce August 24 ,19~g . F Y s sp the uaderai~ned promiee(s) to pyr ~o Southern Mortgage Associates, Inc. , .I~~9 3out west 1'!th Avenue, Miami, Florida . ~ ~ s oorpontian a~snised aad e~detioa under t6s Arkansas _ , er ader. the PrinciPal sum of Thirty Thousand Four Hundred and~0~/100------------------ ------Ddtars 30,400.00 with interes~ trom date at the rstie ot Nine and One Half per centum ( 9.5 per annum on the unpaid balanoe until piud. TLe esid principal and interest ahaU be psyable st the o8'ioe ot Southern Mortgage Associates, I~nc 1999 Southwest 27th Avenue, Miami, ~ ~ Miami, Florida 33145 , or aL sueh other pl~o~ ae the hddu may dee~nate ia writina deliyered or mai]ed to the debtor, in monthly installmente ot ~o Hundred Fif ty Five and 62/lOmdlare 255. 62 commeacing on the first day of October ~ 19 78 ,~~~~b first d~~ oi each month theree?tter until thia note is fully pud~ eucept that, if not eooner paid~ tbe 8aa1 payment of principsl and u?tee~st ahall be due and p~yable on the firet dsy oi September , 2008. . ~ privilege is reserved to prepap st any time, without premium or fee. the eatire indebtedneee or any put thereof aot leas thm the amouat ot one installment, ot oae Dun~ed doUars (=100.00), whkhever k less. Prepaymeat ia full :haU be credited on the date received. Partid prepayment, other t6an on an ia:tallmeat due date, aeed aot be aedited uatil the nent fdlowia` installment due date or thirty days atter such prepayment, wLicbever i~ earlier. If any deficiency in t6e paym ent of any inatallment under tLis note is not made good prior Lo tLe due date of the nezt such instsllment, Lhe entire principal sum snd accrued intereat shsll at onoe beoome due snd psy- able without notice st the option of the holder oi t~hia note. Failure to e~cerciae thia option shall not oonetitute a waiver of t~ha right to ezercise the same in the event oi any subeequent deisul~ In the even~ of detault in the payment of thia note, and if the ssme is colle~ted by an sttornay at ls~v, the underaigned hareby agree(s) to pay all oosts of oollection, including s reasonsble sttorney's fee. Thia note ie eecured by mortgsge of even date executed by t6e undersigned on certain praperty described therein and represents money actually used for the acquisition oi siud pmperty or the improvemente tbareon. Preeentment~ pmtest~ and notice are hereby waived. [~•J Ronald B. Hensley [S~?L] ~ i ~ - [~L] k E And ahall dul rom tl and fuU rform discharge execute eHect, com lete and com 1 with and sbide ~ Y~ P P Y~ Y Pe . , , P ~ P Y ? by each and ever~r t6e stipulations, agreements, conditions, and oovenants of said pmmieeory note and of thie ~ mortgage, thea thia mortgage and the eatste hereby created s6a11 cesae and be null snd void . ~ The Mortgagor further oovenanta as follows: ~ 1. T6at he will pay t6e indebtednesa, as herei~?before provided. Privilege ia reserved to prepay at any time, ~ without premium or fee, the entire indebtedness or any part thereoi not less than the amount of one inatallment, or ~ one hundred dollars (5100.00), w6icbever is less. Prepayment in fuQ shall be credited on the date received. ParUal . ; ~ prPpayment, other than on an installment due date, need not be credited until the neat following installment due date or ! . thirty days after such prepayment, wtuchever is earlier. ~ 2. In order more full~~ to proteM the securit~- ot this mortgage, thc :Viorigagor, together with,~snd in addition to, the rnonthl~ pa~ nients under the terms of the note secured hereb~, on the 6rst da~ oi each month until lhe said notc is fu~lr paid, will pa~• to the :Vlort~a~;ee, as trustec, (under the terms of this trust as herein- after stated) the following sums: ~ (s) A sum equal to the groand rents, ii any, next due, plus the premiuma that will next beoome due and payabk ~ on policiea of fir8 sad ot6er hasard insuraace oovering the mortgaged property. plus taxes and assessmenta . neat due on the mortgaged property (all sa estimated by the Mortgsgee and of ~vhich the Mortgagor ia ~ ~ notific~d) leas all eums already paid theretor divided by the number of montha to elapee betore one month prior to the date ~vhea suc6 ground rents, premiums, taxes, and saeeasments w~ll beoome delinquent~ ~ euch euma to be held by Mortg~geeintruattopaysaidgmuc?drents~premiuma,ts~cee,andapecialaseessmenta. ~ (b) T6e ag~egate of tDe amounte pa able pureuaat to aubpsragraph (a) and thoeepa able on the note Recured ~ hereby, ehsll be paid in s mn~e Ps3rm~t each month, to be applied to the i~ow?ing items in t6e ordu - = etated - (I) ground rente, tauea, ~mente, Sre, and ot6er hasard insuranoe premiums; - (II) intareat on the note eecured hereby; and (III) amorti:atiun of t6e principai of aaid note. Any deficiency in the amount of such aggregate monthlq payment ahall, unless msde good by the Mor~ ~ gagor pryor to the due d4te ot the next such payment~ const~tute an event of delaul6 under this mortgage. ~ At Mortgagee's option, Mortgagor will pay a"Iste charge" not exceeding lour per centum (4%) ot any install- ~ ment when paid more thaa fitteen (15) dsys a(ter the due date thereof to cover the extra expense invol~ed in rt~ handling delinquent Payments, but such "late charge" shsll not be psyable out of the proceeda ot any sale made to satisty the indebt~edness secured hereby~ utileas such proceeds are su@'icient to discharge the entire ~ indebtedness snd a11 proper costs and expenses secured thereby. ~ ~ 3. I~ the total oi the parments mad~ b~- the Mongugor under (s) of. para~;ruph 2 preceding shall exceed ; the amount ot pavmenl.4 actuall~ macl~ br tt1e I~'torl{~e~ec, as truste~, for ground rents, taxes and as.4easmenta, ; ~ and insursnce premiwus, as the case ma~ be, such exceas ahall be credited on subsequent psyments to be made } ~ by the Mortga~;or for su~h items or, at~ Mortgugee's option, as trustee, shall be refunded to Mortgagor. Ii, ( ~ however, au~h uionthl~ pa~ ments sl~all not I~c suffi~•ient to pa}- su~h items when the same ahall become due ~ ~ " snd pa3~able, then tlie Mortgagor shall pn~• to th~ 4~(ortga~e~, ns trustee, an~ amount necessary to mske up ~ the deficienc~. Such pa~•ment shall be ma~1e within thirt~ (30) da~~ after written notice (rom the Mortgagee ~ ststing the amount ot the deSciency, which notice msy be given by maiL Ii ot ~an~ ' Mo ~ ~ , 30Gr~;, 7 F,~GE ~~~14~ . ~ ~ ~ 9:. _ . ' V - - € ~ ~.~R~~~ - -