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Home My WebLink About0912 ~ w. The Mortgagor hereby covenents with the MortgaE;ee, thot he is inde~ag~W~~~piied oi s~yd` ~sd ia fee eimple or such other estat.et d eny as is etated derein; thst, he has tull power sng li rright to oouvev the same as Jaresaid; th~t, the land ia iree ~mm all encumbrAC?ces except $a herein otherwise recil~i; th~t said~lortgagor ~vill maka such lurt~her aeeunnces to provo the aforeaaid title to said land in said Moctgugee ws msy be reason- ~b~j requi~ed, snd th~ti said Mortgago~ does hereby fully warrant t6e tiWe to said land, aud every part theroof, aad w?il! defend the eame against the larvful claims oi all persona ~vhoa~soever. PROViosD AL~r~YS thst if tha 111o~tgagor ahall pay unto the Mortgages tha6 oert~in promiseory note~ oi wLic6 the Lollowing is ~~ubet~ant.isl ooPJ. to wi~: =25, 500.00 Fort Pierce , Flotida. August 28,1978 . Foa Vni.vs R~escvsu, the uadersigned promise(e) to pay t,o Southern Mortgage Associates, Inc. , licensed to do business iq the State of Florida • . s oorpontion org~ised and eaed~ina under t6e y~~ a[ Arkansas order, t6e principal sum ot Twenty Five Thousand Five Hundred and 00/100-----------------------Dailars (i 25,500.00 ~rith interest irom date at tha rste d Nine and One Half per centum ( 9.5 ~Jo) per anaum on the ua(iaid balanoe until paid. The eaid principal aad interest ahall be payable at !he o~ce ~ Southern Mortgage A~sociates, Inc. , 1999 Southwest 27th Avenue, ~ Miami, Florida 33145 , or st suc6 other pluoe as the hdder msy desig~aate in writing delivered or mailed to the debtor~ in monthly inataUmeate of 'I~o Hundred Fourteen and 42/100-~o~lara 214.42 oommencing on the first dsy of October , 19 78 , and ooutinuin6 on the first dsy oi each month theresfter until this note is iully paid~ euccept tLst, if not sooner psid, t6e finalp syment . oi princtpal snd inLerest shall be due and psyable on the firat dey oi September ~ 2005 . privi]ege is reserved to prepsy at any time~ without premium or fee. the entire indebtedneee or any put ' tbereot not le~ than We amount o[ oae Instaliment, or one hundred dollars (E100.00), wdichever ~S less. Prepayment in tull chall be credited on the date received. PartW prepayment, other Wan oa an installment due date, need aot be credited until the nent fdlowiag installmeat due date or tNrty days atter such prepaYment, w6ic6ever is earlier. - ~ If sny deficiency in the payment of any inatallment under thia note is not made good prior to tba due date of the neut such instsWnent, the entire principsl sum and accrued interest ehall at once beoome due and Fay- able wit6out notice at the option ot the holder oi thia note. Failure to eaem.ise this option ahall not oonatatute s weiver of the righ6 to exerc~se We same in the event of any subsequent defeult. In t6e event of deisult in the psyment oi this note, snd if the sume ia coUected by an attorney at lsw, tLe undersigned hereby agree(s) to psy all costs of collection~ including a ressonable ettorney's fee. Thia note is eecured by mortga~e of even date eaecuted by the undersigned on cettsin property described therein and represenca money sctually used for the acquisition of esid proper6y or the impmvementa thereon. Presentmenl,~ protest, and noticp, are hereby waived. , , . _ " , / S/ i~dlU[I J. l.dL L 1CC - L~Lj ~ Ralph J. Carrier ~s D'ane F. Carrier [gg~L] Diane F. Carrier _ [SEAL] ' [SEAL] i And shall duly, promptly, and fully pedorm, discharge, execute, eRect, oomplete~ and oomply with and ebide ~ by each and every the stipulations, agreements, conditiona, and oovenants of said Promiasory note and of thie i mortgage, then this mortgage and the estate hereby created shall cease and be null and void. ~ The Mortgagor further covensats as follows: - ~ 1. Z'6at he will pay the indebtedness, es hereinbefore provided. Privilege ia reserved to prepay st any time, without premium or fee, the entire indebtednese or any part thereof not less than the amount of one installment, or ~ one hundred dollus (a109.00), whichever is less. Prepayment in full shall be credited on the date received. Partial ~ prepayment, oWer than on an installment due date, need not be credited until the next following installment due date or ~ Wirty days after such prepayment, wWchever is earlier. ~ 2. In order inore fuil~• to protect the securit~- of this mortgage, the vtortga~!or, togetl~er with,~and in ~ eddition to, the monthl~• pa~-ments under the terrns of the note secured hereb~~, on the first da~ of each month until th~ said not~ is full~• paid, will pa~- to the MortgaRPe, as trustee, (under the terms of this trust as herein- ~ after stated) the following swns: _ - _ (a) A sum equsl to the ground renta, if any, next due, plua the premiums that will next become due and payable ~ on policies oi Sre sad othEr hasard inaurance covering the mortgaged property, plus tsxes and a~sessmenta ~ ne~ct dae on the mortgaged property (all sa estimated by the Mortgagee and of which the Mortgagor ia - ~ noti8ed) leea all eums alres~y psid tberefor divided by the aumber of montha to elapse before one month ~ prior to t6e date ~vhen such ground rente, premiums, taxes, and assessmenta ~vill become delinquent, ~ ~ such eutna to be 6dd by Mortgageeintruattopaysaidgroundrents,premiuma~ta~cea,andapecialsssessmenta. ~ (b) The aggregate of t6e amounts payable pursusat to subparagraph (a) and thoaepayable on the note aecured ~ 6ereby, ehall be paid in a single paymeat esch month, to be appl~ed to the follo~ving itema in the order state~ (I) ground rents~ taxes, as~ssmenta, fire~ and other hasard insurance premiume; ~ (II) intereat on the note eecured 6ereby; aad (IIn amortisstion oi the principal of eaid note. k~ Any deficiency in the amount oi auch aggre~ate monthly payment shsll, unless msde good by the Mor~ gagor pr~or to the due dste of the next such peyment, const~tute an event of default under this mortgage. - At Mortgagee's option, Mortg agor will psy a"late charge" not excee~ing four per centum (4°Jo) of any install- t,c,~ < ~ ment when paid more than Siteen (15) dsys after the due date thereof to cover the eatra expense involved in ~ handling delinquent psyments, but such "late charge" shall not be payable out oi the proceeds of any sale ; msde to satiaty the ~ndebtedness secured hereby, unless such proceeds are sufficient to d~scharge the entire , indebtednesa and sll proper costs and expenses secured thereby. ~ 3. 1f the total of the pa~-inents mn~1e b?- the Mortgngor under (a) of paragrnpl~ 2 precedinR ahall exceed ~ ~ the amount of pa~•ment~g actunll~- n~a~i~ br tl~e 4lortgaKer, as truste~, for groun~l rents, taxes and aa.gessmenta, ~ ~ and insurance pr~miwns, as t}~e case ~nar be, such exceas ahall t~e credit~d on subsequent payments to be msde ~ bv the Mortga~or for such iterns or, ut :4lortgn~eP's option, as ttustee, shall be re(unded to Morigagor. If, ~ ~ however, such monthl~ pa~-menta shall not ix~ suffi~•ient to pa}• su~h itei»s when the same shall become due ~ and pa3•able, then the :~iortga~or shull pu~• to the :1+Iort~a~er, a.4 trustep, an~ amount necessary to mske up - the deficienc~•. Such pa~•ment shall be ma~1e within thirt~ (:30) da~-~ after written notice from the Mortgsgee etsf.ing the amount of the deficiency, which notice msy be given by mail. If et any time the Mortgsgor ~hall ~,4 z: ~ , . ~ _ _ ~ _ _ _ kM ~~H'~ t:~ ~y J - ~ ~""'s^>'~' ,~s` z^zr` 3,~ r"r'',c ~a .~r~x ~x-~'~~ a^.r °-y,~ ~ ~ ~a~.~: . ~v"''.~- _ . _ . .