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Home My WebLink About0450 + ~ - L ~Y ~w . ~ Tbe Mortgagur hereby covenpnta wit.h the riortgagee, that 6e ~s mdefeaaibly seized oi ssid Lnd in fee aimple or such ot6er eatatei tt any as u et~ted herein; thst he has full power ~nd lawiul right b ooovev the sAme as ~ioreeaid; ths~ tl?e laud v iree ~rom aU eucumbraaoes exoepL aa herein otherwiea recited; t6at said7biortgagor ~viU make such turtber sesuranoes to prove the Joc^eeaid title to said land in s~?id Mortg~gee as m~y be re~son- - ~req uiced, snd th~t said Mortgsgoc Joes hereby fully ~ruraut fLe title to aaid lsnd, and.avec~ par6 6hereot~ : aud will detend tLe eama agains6 ~he bwful claims ot ~ll peraons ~vhomeoever. ~ Paoviosu A~.w~~YS f~h~t it We I~io~tgagor sLaU ps~ unto Lhe Mortgages tLs~ cect~ain pmmisrory note, oi i wLich the followin~ ia a subst~ntial oops. to wit: ~ i 38,000.00 Fort Pierce , ~ November 16 ,19 78. ~ i Foa Vni.vs Rscsnrsa~ the unde~sigi~ed pranise(s) to pqr b ~ l SOUTHSRN MQRTGAGE ASSOCIATBS, INC. ,~oorpo~~ tion~~!s~ aad e:istina under the ~ V~ ~ the State of Arkansas ,~r order, the principsi sum ot T~~~ ~l~nl THOUSAND and no/100----------------------------------Doll~ra (i 38,Ob0.00 with interest lrom date at tLe rste of NINS AND ONB ~IAI~F per centum ( 9•5 °Jo) Per aaaum ou tbe unpaid batanoe unW paid. The esid principal and interest ehall be payable at the o@'ioe ot SOUTHffitN I~RTGAGE ASSOCIATSS, INC. 1999 Southwest 27th Avenue in Miami, Florida 33145 ~ or at such other plsoe ae the holder may deaignate in writing delivered or mailed to the debtor, in monthly insfi,attmenta of THRSS HITNDRSD NINETSSN b 52/100 Dollsre (i 319.52 oommencing on the first day of January , 19 79 , aad oontinuin6 an the firet dsy, of each month thereafter until tLis note is fully paid~ ezcept that, ii not eooner paid, the finsl psyment of principul aud iat,erest ahall be due and psy~?ble on t6e Srst day of December , 2009 privil~eg~e ia reserved to prepay st any time~ without premium or fee, the entire indebtedness or :ny psrt t6ereot aot tess t6w tl~e amouat of oae ~nttdlmeat, or oae bundred doWus (=100.00). w+6ichever is less. Prepayment ia tull a6a11 be credited on the date received. Putial prepaymeat, otAer than oa an insWlment dne date, aeed aot be credited untll the n~t tdlowing lnstallmeat due date or tNrty days atter wch prepayment, w6ic6ever ic earlier. - It any deficiency in the psy men~ oi sny installment under t~iis note is not made good prior to the due dste . of the ness such installment, the entire principsl sum and accrued int,erest ahall at onoe beoome due and pay- able without notice at the option of t6e holder oi this note. Failure to euercise thia option ahall not oonstatute a waiver oi the right to eaem.ise the same in the event ot any aubsequent default. In the even6 of detault in the psyment of this note, snd if Zhe same is oollected by an sttorne~ st lsw~ the undersigned her8by sgree(s) to psy sll ooate of oollection~ including s reasonsble ~ttorney's fee. Thia note is secured by mortgage of even dats euecuted by the undersigned on oertain pmperty deecribed therein and represents money actually used ior the scquisition of said property or the improvements thereon. presentment, protest, snd notic.~? ue 6ereby waived. ` /tr/ John C. Prebble JOHN C. PREBBI.S _ js/ Ratherine A. ~rQbble [gg~,~ RATtIBRINE A. PREBBLE - [s~?L] [s~+L] And shall duly, pmmptly, and •fully pedorm, discharge, execute~ e5ect, oompiete, and comply with snd abide by each snd every the stipulations, agreements, oonditions, and covenanta of said promissory note and of this ~i mortgage, then thia mortgage and the eatate hereby created ahall ceRae sad be null and void. ! The Mortgagor further oovenants as follows: ! 1. Thst he ~villpa q the indebtednesa, aa hereinbefore provided. Privilege ia reserved to prepsy at say time, F ~vithout premium or fee~ the entir~ indebtednees or any part t6ereof not leas thaa the amount d one installment, or ~ one hundred dolla~a (:100.00), whichever ia lesa. ~ 2. In order ~norn full~• to protect the securit~ of this mortgage, tLe :biortgaf;or, togPther wit.h, and in addition to, ihe monthl~- pa~•ments under the terms of t}ie noie secured liereby, on the first da~~ of eacli month ~ until thc said not~ is (ull~ paiJ, will pa~~ to the 4iortgs~ee, as trustee, (under th~ terms o[ this trust as herein- ; afler stated) the following swns: . ~ (a) A sum equal to t6e ground rents, if any, next due, plus the premiums that will next become due and payable ~ on policies of fire sad other hasard insurance oovenug the mortgaged propertY. Plus taxes and ag.gessments ~ next due on the mortgaged property (a11 as eetimste~ by the Mortgagee and of which the Mortgagor ia notified) lese all suma slresl puid therefor divided by the number of months to ela before one month u ~ prior to the date ~vhen su~ ground renta, - premiums~ taxes, and asseasments ' be~wme delinquent, euch eums to be held by Mortgageeintruattopsyeaidgroundrents, premiums,t~ea, sadspecialass~n?enta. ~ (b) The aggregate of the amounts payable pureuant to subparagraph (a) and thosepayable on the note secured ~ hereby, ehall be paid in a eingle payment each month, to be appLed to the following items in t6e order ~ stated ~ (n ground rents, taues, asee~smenta, fire, and other hasard insurance premiuma; ~ (II) intereat on the note eecured her~bq; and . ~ (IIn amortisation of the principal of said note. ~ Anp deficiency in the amount ot auch aggregate monthly psyment sha11, unless made good by the Mor~ ~ gagor pr~or to the due date o[ the next such psyment, constitute an event ot default under this mortgage. At Mortgagee's option, Mortgagor will pay a"late charge" not eaceeding four per centum (4°Jo) ot any ineLall- ~ ment when paid more thsn fitteen (15) days atter the due dnte thereof to cover the extrs expease involved in ~ hsndling delinquent paymenta, but auch "late charge" shall not be payable out ot the proceeds of any sale made to satisfy the ~ndebt,~dness secured hereby, unless such proceeds are aufficient to d~schsrge the entire - indebtedness and all proper cost8 and expenses secured thereby. ~ 3. If the total o! the pa}-ments mud~ b~• the Mortgngor under (s) of para~?ruph 2 preceding shall exceed ~ the amount of pa}-menls actuull~ n~ad~ b~' tl~e ~iortKa~er~ as trualec, for ground rents, taxes and asseasments, and insurance prciniun?s, as th~ case ma~ be, such excesa a1:s11 be credited on subsequent peymenta to be made ~ bv the Mortgagor for such items or, nt Mortgngee's option, aa trustee, shall be rcfunded to Mortgsgor. If, ~ however, sueh n?onthly pa~•ments shall not lm suffirient to par surh itenLg when the same shall become due R and pe•able, then the Mortgagor shull pav to the Mortga~ec, na trustee, en~ amount necessary to make up the de~cienc~•: Such pa~•ment sliall be mn~1e within thirty (:i0) da~~s a(ter written noUce from the Mortgagee ; ststing the amount of the deficiency, which notice msy be given by mail. If at sny time the Mortgagor shall ~ . ~ RK 288 ~ ~ ~54 = ~ vvu ~ ~ 'jV~ , , e ~ . .~r ~ ~ xr,""r ~,,fi,,.,,~:r~ ' ° ~~"y~~ ~ n`. ~~r-~*`~ 3 ~ ~ . . a:~'~..`~ u ~ ~ _ .