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Home My WebLink About0974 The Mortgagor hnreby oovenaat,s witb the Mortgaqe~, thst 6e is indeteaeibl sei~ed ot said Lnd in fes eimple or suc6 other estetet d t?ny ea is atated hereia; tha6 he has tull power aad la~it~ nght to ooDVev the anme as aforessid; tboti the laad ~s iree ~rom all eucuanbraaoes exoept as herein olherwise recit,ed; tbat s~id~viortg~gor ~viU make such iuM,her ~ssuranoes to provo tbe atocesaid uWe to said.lu~d in said Mortgagee aa m~y be re+~aon ~b~yrequired, and Wu~ said Mortg4gor doe~ hereby full ~rurant the title to w~id tand, aud svee7 parL theceot, ~ aad wiU defend the se?me againat the bwful claims oi ~ pecsoa~ whomAOever. Faoviaaa ALw~YS thst if the I~iortgagor s6~11 ps~ unt~o ths Mortgages thi0 oe~tain promievoi9 aote, oi whic6 the following is a subetwtial oops, b witi: i 19,600.00 Ft. Pierce , Florida ' January 25 ,19 79 . Fon Vi?i.vs Rscravsn~ the underai~ned pranise(s) t~o p+U? t~o Southern Mortgage Associates, Inc., suthorized to do business in the State of Florida . ~ s oorporstion oe~anised and e~d~ina nnder t~6s bwe of The State of Arkansas ~ P~aP~ ~m ot Nineteen Thousand Six Hundred and no / 100--- ~Lurs (i 19, 600. QO with intenst from dats at tbe rate of Nine and Oae Half per oeatum ( 9. S%) pec ani?um an t6e unP~id bvance until Paid. Tbe ssid principal awd intenst ehall be payable at the o~'ioe at Southern Mortgage Associates, Inc. 1999 S.W. 27th Avenue in Miami, Florida 33145 , or at enah other plaoe ae the hdder may deeignste in writiaa ddivered or mailed t~o the debtor~ in monthly insWlmente af One Hundred Sixty-Four ~ 81/100 Dollais 164. 81 oommencing on tbe first dsy qt March , 19 79 , aad oontinuina an tbe first d~y oi each mont6 t,benafter until tLie note is fnlly pud, eac~ept tLsti ii not eoonerp~ d, the Snal puyment oi principal and interest shall•be due and paysble on the first day oi Fe~ruary, 2009. . privilege ia reeerved ~o prepay st sny time~ rvithout premium or tee. ths entire indebtednees or any Par~ thereot aot las t6aa t6e aaaunt oi one in~taUment, or one 6undred doUus (=100.00), whlcherer is las. Prepayment Ia tull ahall be credited on the date reoeired. Partial prepayrnent, other Waa on aa insWlraeat due dste, need not be credited until tlie neut followin~ instalLpent due date or thiety days atter wcb ptep~yment, w6lchever is w~clier. If any deficiency in the ps~ymeat of aay installment under thia note is not made good prior to the due date of the nezt such inatallment, the entire principsl sum snd accrued interesti shall st once beoome due and pay- able withou` notice st the option oi the tiolder of this note. Failure to ~ercise tLis option shail not oonsbtute • waiver of the right to euem,i~e tbe ssme in the event of any subeequent deisul~. In We evnnt of default in t~he pnyment of thia note, snd it the eame is oollected by an attorney st lsw, the undernigned hareby agree(sj to psy all oo~te of collection, including a reasonsble sttorney'a fee. This note is eecured by mortgage of even.dste executed by tLe undersigned on oert~ain property deecribed tberein snd represents money actually osed tor tbe acquisition oi esid property or ths impmvemente thereon. Preeentmeat, protest. and notice are hereby waived. /s(,y Willie James Russ. Sr. [gg~L] WILLIE JAMLS RUSS,~SR. Ls/ Sgg.ia Lavern~ Russ [gg~,] SONJA LAVERNE RUSS [SBAL] . ~~L~ And shall duly, pmmptly, aad fully perform, disc6arge, execute, effect, complete, and comply with and abide ! by eac6 aad every Lhe atipulations, agreennents, conditions, and covenanta of said pmmiesory note and of thia ~ mortgage, then thia mortgage and the estate hereby created shall ceaee and be aull sud void. ; T6e Mortgagor further covenants aa foUowa: . ~ 1. That he willps q the indebted~?ess, as hereinbefore provided. Privilege is reeerved to prepey st anq time, without prennium or fee~ the eatire indebtedaess or anq part t,hereof not leas thaa the amo~nt of one installment, or ~ one hundred dollats (~100.00), whic6ever is less. Prepayment in full shall b: credited on the date received. Partial ~ prepryment, ot6er thm ore aa installmeat due date, need not be credited until the next follow~ing installment due date or ~ thirty days after such prepayment, whichever is earlier. 2. In order more full~ to protect the securit~' of thi~ niortgage, the ylortgagor, together with,~and in ~ addition to, the inonthl~• payn~ents under the terms of t}ie not.e secured }iereby, on the 6rst da~ of each month . until the said note is fu~l~ paid, will pa~ to the ;1~Iortgagee, as trustee, (under the terms of t,his trust as herein- after stated) the (ullowing suins: (a) A sum equsl to the ground reats, ii any, nact due, plna the premiums that will next beoome_ due aad payable on policiee oi 5re and other ha~rd ia;aurance o~venng the mortgaged property, plua taxes and asse~smenta next due on the mortgaged property (all sa estimsted by t6e Mortgsgee and of which the Mortgagor is notified) leae all snms already p~d then[or divided by the number of moatha to elapee before one month prior to the date ~v6en such ground renta, premiuma, ta~ces. and aes~sments ~Il beeome delinquent, ~ auch suma to be hdd bq Mortgageemtruattopsyeeudgroundrents, premiums, t~ee, andspecisl s~esments. (b) The a~ste of the amounts psyable pura~iaat to wbparsgraph (a) and thoeepa~ yable on the note xecured hereby, shall,be paid in a eingle psymeat escb month, to be appl~ed to the f~llowing iteme ia the order ~ stated ~ (I) ground rente. ta~a, asses~enta, fire, and other hasard insurance premiuma; . (II) interest oa the note eecured hereby; and - (IIn amortisation of the principal d eaid note. ~ Any deficiency in the amount of suchsggre gate monthly psyment shsll, unless made good by the Mor~ i, ~ gagor pr~or to the due dste oE the next such payment, const~tute an event of defsult under thia mortga~e. ~ At Mortgagee's option, Mortgagor will psy s"Iste ct~arge" not exceeding four per centum (4~J'o) oi any install- ~ ment when psid more thsn fitteen (25) dsys after the due date thereof to cover the extrs expenae involved in ~ handling delinquent paqments, but such "late charge" shall not be payable out ot the proceeda oi any sale °,o ~ ~ made to sstiafy the -mdebtedness secured hereby, unless such proceeds are aufficient to d~schsrge the entiro ~ ~ indebtedness snd all proper costs and e~cpenses secured thereby. ~ 3. If the total o( the pa~ ments inuct~ bv the Mortgngor under (a) o( paragrupl~ 2 precedinq shall exceed ~ ~ the smount o( parment~a actunll~ ~na~l~ b~- tl~~e :11iottgaKee, as truste~, for ground rents, tsaes and aBSesz+ments, ~ and insurance premiums, ss the case ~na~~be, such excess ahall I~e credited on subsequent paymenta to be made ~ ` by the Mortgagor for sucl~ items or, at Mortgagee's option~ as truatee, sFiall be refunded to. Mortgagor. It, ~ however, such montl~lv pa~ments st~al~ not ix~ sufPi~ient to pa~ such items when the same shall become due ~ snd payable, then the Mortga~or shu?1 pav to the Mori~ta~rec, ~ ttustee, an~ amount necessary to mska up ~ Q the deficienc~. Such pa~ment sha11 ~ th~e wifhin thirtv (:30) da}s a(ter written notice from the Mortgagee i ststing the amount of the deficiency, which notice msy be given by mail. Ii at sny titne the Mortgagor shall ~ ~ i AA~~~ ~ - - - - - ~ ~ . ~ ~ _ - . _