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Home My WebLink About0761 The Mortgagor hareby co~enant,a with the Mortgagee~~ thst ha ie indere~?sibl teir.ed oi wd laud in fee eimple or such otber eatatet ~f ~~y ~a ij ststed herein; that, ha has tull power ~nd la~ul right to ooDvev the same as ~toreBaid; t,h~~ tl~e land ~s fres ~rom ull encumbrances encept as herein otherwiae recil~ed; tt~~t saidlulortgagor ~vill maJce such furU~er aasurances to provo tha ~toresaid title to said land in s~id Mortgagee ~s m~y be reason- abl required~ nad th~t said Mortgagoc does hereby full ~rursa6 the dUe to said luad~ and evesy put t~hereoi, aa~aill deiead 1he asme agsinat the bwtul claima oi ~ pereoas whomsoever. PnoviuaD AL~r~YS that it t6e ~1oNgagor s6a11 p~~ unto ths Mortgages that oertsin promiesory nute. oi wbich the followiczg is ~ subst~ntial ooPS. to wi0: i 47, 900. 00 Stuart March 1619 7 9 • Foa Vu.us Rscnvm. tbe unde~ed pro~nise(s) to WY to SOUTHERN MORTGAGE ASSOCIATES , INC., authorized to do business in the State of Florida ~ a eorporation organiied and eaeRioa under the lsws of Arkansas .~~r, ~ P~pPv ~m ~ Forty-seven thousand nine hundred and 00/100-------------- 47 , 900. 00 with int,crest from dste st the rate of nine and one-half p~* ~~m ( 9. 5%) P~ ~um on t6e unpaid balanoe unW paid. ~ The asid principal and interest ehaU be payable at t6e oH'ioe of Southern mortgage Associates, ! Inc., 1999 SW 27th Avenue ~ Miami, Florida , or at such ot6er plaoe as t6e holder ms~r d te in writing delivered or mailed to tbe debtor, in monthly installments ot ~X~ 77n~ ~m 402.77 commencing on the firat dsy of N~aY . 19 79~ and oontinuin6 oa the firet day of eacb month thereafter until this note is fully pud~ ezcept thsC, i~ not eooner paid, the final psyment of principal and int,erest ahall be due and payable on the first dsy oi Ap~il , 2009 . privilege is reserved to prepay at sny time, without premium or fee. t6a entire indebtednees or any par~ th~reot not less than t6e uaouat ot one instiJlmen~ ot oue hundred doUsra (=100.00). whicdrver is less. Yrepayment In tull ahall be crtdited on the date received. PutW prepayraeqt, oWer thw oa m iastapment due date, need not be etedited until the next [ollowin~ installment due date or thirty days after suc6 prepayment, w6icherer is earlier. It any deficiency in the paym ent of sny inatallment under t~i~a note is not me~de good prior to the due date of the next such installmen~, the entire principal sum and accrued interest shall at once beoome due snd psy- able wiWout notice at the option of the holder oi this note. FWure b ezerciae this option ehall not oons4tute a w aiver of the right to exercise t6e same in the event oi any subeequent defaul~ In the event oi detault in Ehe psyment of this note, and it t6e asme ia collected by an attorney st lsw, the undeisigned hereby agree(a) to psy all oosts of collection. including a reasonable sttorney's fee. This note is secured by mortgage of even date e~cecuted by the underaigned on oertain property described therein and represents money actually used for the acquisition oi esid property or the improvements thereon. Preeentment~ protest, and notic~s are hereby waived. - /sL_SLa~k_H~'lick~ ir. JACK HYI.ICf~, JR. . Pe~;;~~ick [s~?L) P~Y J. HYI.ICK , - [~l ; ~ ; f [s~L) - ~ And shall dulq, promptly, and fully pertorm, discharge, execute, effect, complete~ and comply with and abide ; by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of thia € mortgage, then thia mortgage and the estate hereby created ahall ce,ase and be null sud void. ~ The Mortgagor further covenants sa follows: ; 1. Thet he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, i without premium or fee, the entire iadebtednesa or any part thereof not less than t6e amount of one inatallment; or ~ one hundred dollus (~100.00), whichever is tess. Prepayment in fuU stiall be credited on the date received. Partial prepayment, other than on an installment due date, need not be ctedited until the next foliowing installment due date or ~ thirty days after such prepayment, whichever is earlier. , " ~ 2. In order more full~• to protert the securit}- of tl?is n?ort~age, thc titortgagor, together with, and in ~ addition to, the monthl~- pa~•nients under th~ terms of the note se~ured hereb~, on the first da~• of each month ~ until tl~e said not~ is fult~• paid, v?i11 pn~• to the ~iortgn€Pe, as trustee, (under t}~e terms of this trust as herein- ~ after stated) the follow•ing swns: ~ (a) A sum equal to the ground rents, if any, next due, plus the premiums that will next beoome due and payable ~ on policiea of fire and other ha~rd insurance covering the mortgaged property~ plus taxes and assessments ~ next due on t6e mortgaged pmperty (all sa eatimated by the Mortgagee and of whicb the Mortgagor is ~ noti6ed) leas all sums already paid therefor divided by the number of montha to elapee before one month g prior to the date when such ground rents, premiums, taxes, and assessments ~vill become delinquent, such sums to be held by Mortgageeu?truattopaysaid ground rents, premiums, tazee, andspecisl assessmenta. (b) The aggregate of the amounts payable pursuant to subparagraph (s) and those payable on the note secured ' 6ereby, shall be paid in a single payment each mont6, to be applied to the following itema in the order stated g (I) ground rente, taaes, as~essmente, flre, aad other 6asard insurance premiume; (II) interest on the note eecured hereby; aad 3 (III) amortisation ot the principal ot said note. F Any deficiency in t6e amount of such aggreRatP monthl~~ payment ahall, unless made good by the Mort- - gagor pr~or to the due date ot the next such payment, const~tute an event of detault under th~s mortgage. ; At Mortgagee's option, Mor~gagor will pay a"lste charge" not excee~ing four per centum (4°Jo) of any install- , ment when paid more than Sfteen (15) days after the due date thereof to cover the eatra expense involved in w- " handling delinquent payments, but such "late charge" shall not be payable out of the proceeds o! sny sale # made to satisfy the in debtedness secured hereby, unless such proceeds are sufi'icient to discharge the entire ; ;y indebtednesa and sll proper costs and eapenses secured thereby. ~ ~ 3. If the total ~i thP pa}-~nents ma~l~ b~- the Mortgagor under (e) of pnra{:ruph 2 precedinR shall exceed ~ ~ the amount of pa}•ments aciuull~- ma~l~ br t~~e ~tortKaKec, as truste~, for ~roun~l rNnts, taxes and eases_aments, ~ snd insurance premiums, as th~ ~ase ma~= b~, such excess shall be creditcd on subsequent pa~ments to be made ~ ~ bv the ~Iortgagor for su~h iter?~s or, ut ~tortga~ee's option, as trustee, st?all be refunded to Mortgagor. If, however, such montl~l~ pe~•ments shall not i~ suffiriPnt to pa~• cu~h items when the same shall become due = and pa~•able, then thc ~iort~a~or shall pn~• to th~ Ltort~a~er, n.4 trustee, nn~ amount neeessary to mske up ~ the de~icienc~. Such pa~•ment shal) br ~na~1e within thirt~ (:i0) da~•s after written notice from the Mortg4gee Q~ ~ . ststing the amount of the deficienc~, which notice may be given by mail. If et any time the Mortgsgor shall « ~