HomeMy WebLinkAbout2029 The Mortgagor hereby covenants with the Mortgagee, that he is indeteatubly seized of said land in fee
simple or such other estates ti any a8 is stated herein; that he has full power and lawful right to ooovev the same
as aforesaid; that the land u free ~rom all encumbrances except as herein otherwise recited; that said~fortgagor
will make such further assurances to prove the aforesaid title to said land in said Mortgagee as may be reason-
ably required, and that said Mortgagor does hereby fully warrant the title to said land, and every part thereof,
and will defeud the same age?wat the lawful claims of all persona whomsoever.
PsovrosD ALwAYB that if the !Mortgagor shall pay unto the Mortgagee that certain promissory note, of
which the following is a substantial copy, to wit:
=30,500.00 Port St. Lucie ,Florida. ,
March 23 , 19 79.
Fos Vnr.us Rscsrvsu, the undersigned promise(s) to pay to
STOCICTON, WHATLEY, DAMN ~ COrU'ANY
, a oorporstion organised and eristins under the
laws of the State of Florida , or order, the prmcipal sum of THIRTY THOUSAND FIVE HUNDRED and
No/100---------------------------------- (i 30,500.00 with interest from date at
the rate of Nine & One-Half per oentum (9 1/2%) per annum on the unpard balance until paid.
The said principal and interest shall be payable at the office of STOCKTON, WHATLEY, DAMN ~ COMPANY,
100 West Bay Street
in Jacksonville, Florida , or at such other place as the holder may designate in writing
delivered or mailed to the debtor,. in monthly installments ofTWO HUNDRED FIFTY-SIX and 51 / 100-Dollars
256.51 commencing on the first day of May , 19 79 ,and continuing on the
first day of each month thereafter until this note is fully paid, except that, if not sooner paid, the final payment
of principal and interest shall be due and payable on the first day of April , 2009.
privilege is reserved to prepay at any time, without premium or fee. the entire indebtedness or any part
thereof not less than the amount of one installment, or one hundred dollars (5100.00), whichever is less. Prepayment in full
ahaU be credited on the date received. Partial prepayment, other than oa an installment due date, need not be credited until
the nett following installment due date or thirty days alter such prepayment, whichever is earner.
H any deficiency in the pa ant of any installment under this note is not made good prior to the due date
of the next such installment, the entire principal sum and accrued interest shall at once become due and ~ay-
able without notice at the option of the holder of this note. Failure to exercise this option shall not oonstrtuts
a waiver of the right to exercise the same in the event of any subsequent default. In the event of default in the
payment of this note, and if the same is collected by sn attorney at law, the undersigned hereby agree(s) to
pay all costa of collection, including a reasonable attorney's fee.
This note is secured by mortgage of even date executed by the undersigned on certain property described
therein and represents money actually used for the acquisition of said property or the improvements thereon.
Presentment, protest, and noticrs are hereby waived.
The tax required by Sect ion 201.08 of the Ls~ Theodore T. Bennett [ggaL]
Florida Statutes has been paid and proper THFnmRF •r, RF.NNF.TT _
stamps have been affixed to the Mortgage ~~S~---Willa Dean Bennett [gg~L]
which secures the obligations evidenced by WILLA DEAN BENNETT
~ this Note. [s~L]
i
E [sEAL]
And shall duly, promptly, and fully perform, discharge, execute, eRect, complete, and comply with and abide
by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this
mortgage, then this mortgage and the estate hereby created shall cease and be null and void.
The Mortgagor further covenants ss follows:
1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time,
without premium or fee, the entire indebtedness or any part thereof not less than the amount of one installment, or
one hundred dollars (5100.00), whichever is less. Prepayment in full shall be credited on the date received. Partial -
prepayment, other than on an installment due date, need not be credited until the next following installment due date or
thirty days after such prepayment, whichever is eazlier. _
2. In order snore fully to protect. the security of this mortgage, the Mortgagor, together with, and in
addition to, the monthly payments under the tetras of the note secured hereby, on the first day of each month
until the said Holt is fully paid, will pay to the Mortgagee, as trustee, (under the ternLS of this trust as herein-
after stated) the following awns:
(s) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable
on policies of fire and other hazard insurance covenng the mortgaged property, plus taxes and assessments
next due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is
~ notiSed) leas all sums already paid therefor divided by the number of months to elapse before one month
a~ prior to the date when such ground rents, premiums, taxes, and assessments will become delinquent,
such aumstobe held by Mortgageemtrusttopaysaidgroundrents,premiums,taxes,andspecialassessments.
(b) The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the note secured
hereby, shall be paid in a single payment each month, to be applied to the following items in the order
stated
(I) ground rents, taxes, assessments, fire, and other hazard insurance premiums;
F
(II) interest on the note secured hereby; and
(III) amortisation of the principal of said note.
Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the Mor•tr
gager prior to the due date of the next such payment, constitute an event of default under this mortgage. -
At Mortgagee's option, Mortgagor will pay a "late charge" not exceeding four per centum (4%) of any install- c~
`rtt went when paid more than fifteen (15) days after the due date thereof to cover the extra expense involved in
handling delinquent paqmenu, but such "late charge" shall not be payable out of the proceeds of any sale ~ -
made W satisfy the indebtedness secured hereby, unless such proceeds are sufficient to discharge the entire
indebtedness and all proper costs and expenses secured thereby. C3~
3. If the total of the payments male hr the Mortgagor under (a) of paragraph 2 preceding shall exceed p
the amount of payments actually male hr the Mortgagee, as truster', for ground rents, taxes and aa4essments, 3
and insurance premiums, as the case mar be, such excess shall be credited on subsequent payments to be made
by the :~ortgagor for such items or, nt• llortgng~F's option, ag trustee, shall be refunded to Mortgagor. If,
however, such montlilr payments shall not t,e sufficient to par such itetns when the sarne shall become due ~
and parable, then the ~fortKagor shall pn.• to Uie Mortgagor, as trustee, an}• amount necessary to make up ~
the def~iciencr. Such payment shall be ma~1o within thin}• (a0) days after written notice from the Mortgagee
stating the amc+unt of the deficiency, which notice may be given by mail. If at any time the MortgaQ~r s?.a?1
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