The URL can be used to link to this page

Home My WebLink About0445 , , .'•~~4 ' ' '~'`i The I~iortgagor hereby cuveiisota v~-it~h t6a biortgagcst~~ th;t be is indelea~ibty saized oi said land ia fea ~imple or suc6 ot,het estate~ J u?y as i~ stat,ed herein; t~hPt he haa tull power ond bwiul right to oouvev the ~nnme as atoreeaid; tho~ t,ha land ia iree ~rom ~11 encumbrances escept aa heroin otbecwise recited; th~t ssid~iortgagor ~vill mi?ha such further aeswrsnoes to pm~e the atoreeaid tiWe to said land in said Mortgagee aa m~y be rexson- ~ tbl req uired, snd th~t said Mortgagor does hereby full7 ~ruran6 the tiLle to said land, and every part tl?e~eoi~ ~ aa~wiU defend the sam?s againsb We lawful olaima oi all pereons ~vhoiuooever. Pnoviasn ALw?sYS thst it the hio~tgagor a6i?U pw uato L6e Morlgages th~t oect~in pmmiseory note, oi ~ wLich tbe following is a substwLial ooPS, to wi6: F = 32,500.00 Fort Pierce , ~7orida, } Not•~nber 16 .I9 78. i ~ Foa Vru.vs R,ccuvp,n~ t6e underaigned promise(s) to pay Laf ; ~ ~ SOUTE~RN I~RTGAGE ASSOCIATBS, INC. , s oorporstian orgsnised and e~stin~ under the ~ 4wa of~ the State of Arkansas . or order~ the principnl sum of THIRTY 1~ THpUSAND FIVE KUNDRED ' AND nojl(~t)-------------------------------Tioiiars 32,500.00 with int~erea~ from daie at tbe re?Le of NINB 6~ ONB NALi~ per centum ( 9~ P~ annum ou the unpaid be?lanoe until paid. The esid principal ac?d interest ahe~U be payable at the o~ce of SOUTHBRN I~JRTGA~GB AS90CIATSS, INC. . 1999 Southwest 27th Avenue ' ~ ~ . in Miami, Florida 33145 , or at such ot6er p1aoE sa the holder may desigoste in writing delivered or mailed to the debtor, in monthly instsllments of TWiO HUNDRSD SBVSNTY TE~REB b~ 28/1Q1~lla~ 273.28 commencing on the Srat day of January ~ 19 79 , and oontinuu~ on the firet d`y of each month thereafter until t,his note is tully paid, except that, ii not eooner paid, tLe final paymenti oi princapal and u?terest sbatl be due and psyable on the first day oi December ~ 2009. privilege is reserved to prepay st ~ny time~ withou6 premium or iee. tha entire indebtednees or any part t6~eot not less than the amount of one instaUmeot, or oae hundred dollars (;100.00), whic6ever is less. Prepayment ia tull s6d1 be credited oa the date received. Partial prepaymeat, other thaa oa an installment due date, need aot be credited until the aent [ollov~iag installment due date or thirty days atter sucd prep~yment, wbicherer is eulier. Ii any deficiency in the payment oi any inatallment under this note ie not made good prior to the due dste oi the nest sucb inatsllment, the enti,re principal sum snd accrued interest ahall at once become due and Fsy- able without notice st the option of the holder of this note. Failure to eaercise this option ahall not c~onaUtute s waiver oi the right to eaercise the same in t6e eventvf say subsequent default. In the event oi default in t6e payment of tLia noce, and it the ssme is collected by sn sttorney at Is~v, the undersigned hereby agree(s) to psy all costa of .oollection~ including s ressonsble ~ttorney's fee. Tbia note is eecured by mortqaqe of even dste euecuted by t6e underaigned on oertain pmperty described tLe~ein and represents money actuelly used for the acquisiLion oi eaid property or the improvemente thereon. Presentment, protest~ 4nd notice are hereby waived. ~ J~w /s/ Sharon A. Davis ~~L~ . ~._..__r : sf Jl~tlCt! B. ~{a~v~is [~.J ~ 1~7 ~ - ~3EAL] I~ [SEI1L] f ____y. ~ And shall duly, promptly, and fully pedorm, discharge, execute, eHect, eomplete, and com ly with_~n d sbide ~ by each and ever~? the stipulatio~s, agreements, ~ conditions, and. r~vei?ante of eaid pro~bi'~`bcstd'sad of thie ~ mortgage, then t~tua mortgage abd the estate hereby created sha'll c~se and be null and void. F The Mortgagor further covenants as follows: 1. That he willpa y the indebtedness~ as hereinbefore provided. Privilege is reserved to prepay at any time, without premium or fee~ the mtire indebtedneas or sny part thereof not less than the sanount of one installment, or ~ one hundred dollar$ (i100.00), whichever is less. ~ 2. In order more tull~ to' pmtect the securil~- of this mortg~e, U?c Mortgagor, together .with, and in ~ addition to, th~ monthl~• pa~•n~ents mider the terrns ot the note secured hereb~•, on the first da~ of each month until the said notc i.4 full~ paid, will pa~• to ttic tilort~a~~e, as tru.gtee, (under tlie tern~.s o[ this trust a.s herein- after stated) ihe i~llowing suu~s: ~ (s) A sum equal to the ground rente, if any, nest due~ plus the premiuma that will next become due and payable on policies of fire sad other hazard insursace oovering the mortgaged property, plus taxes and as.gessments ~ neat due on the mortgaged pmperty (all as estimsted by the Mortgagee and of w6ich the Mortgsgor ia notiSed) leas aU aums already p~d therefor divided by the number of montha to elapee before one month ~ prior to the date when such ground rents, premiums, taxes, and essesaments will become delinquent; ~ such euma tobe held by Mortgageeintrusttopaysaidgroundrenta,premiums,ta~cea,sndspecialasseasments. ~ (b) The aggregate of the amounta~able pureusat to subparagraph (s) aad thoge payable on the note Recured hereby, shall be paid ia a e payment each month, to be applied to the following itema in the order ~ stated ~ (n Bround rente, taues, assessmente, fire, and other hasard. insurance premiuma; ~ (II) intereat on the note eecured hereby; sud (IIn umortisetion of the principal of said note. Any deficiency in the amount of such aggre~ate monthly psyment shall, unless macie good by the Mort- ~ gagor pr~or to the due dste of the next such payment, consticute an event of default under thia mortgage. At Mortgagee's option, Mortgag~or will pay s"late cl~arge" not eaceeding four per centum (4°Jo) of any inatall- ~ ~ ment whenpa id more than fifteen (15) days e(ter the due dste thereof to oover the extra expense involved in # handling delinquent psyments, but such "late charge" shall not be payable out of the proceeds of any sele ° made to satisty the ~ndebtedness secured hereby~ unlesa such proceeda are aufficient to discharge the entire ~ indebtedness aad all proper costa and expensea secured thereby. ' ~ 3. 1t the total of the pa~-ments ~nu~l~ b~• tl?e Mortgngor und~r (a) of para~rupl~ 2 precedinR shall exceed ~ the amount ot pa~•ments actuull~• ~nad~ b~• tl~e ltottKaKee, as trustee, for groun~l rents, taxes and as.sessments, ~ and insurance premiuu~s, as the ~ase ma~= b~, such excess shall b~ credited un sut~c~quent pa~ments to be made ~ b~ the :~iortga~;or for sueh items or, ut :~4ortga{;ee's option, as trustee, shall be rntunded to Mortgagor. If, however, auch ~nontl~ly pa~-ments shall not ix• suffi~~ient to pa~- su~h itemg when the same ahall become due ~ and pa}•able, then ihc :~iortgagor shnll pa~ to the Mort~a~ee, us frustee, nn~~ amount necessarv ta mske up ~ the deficienc}~. Such pa}•ment sl~all bt~ mu~le within thirtv (:i0) da~s after written notice trom the Mortgagee ~ atating the smount ot the deficiencf, which notice msy be gi~en bp mai1. I! at sny time t6e Mortgagor shall F ~ ~ ~ R ?98 ~ "445 ~ ' ~ ~uCK r ~ ~ ,~-c ~,t': , - - - - , ~ , s~ ~ ~ n<~-~.~-'~~3.s__ w..._