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Home My WebLink About0122 T6e Mort~agor herebs covenaute wilh t6e Mortg~ea, thet he-u indeteaRibly seized ot suid land in iee simple or auch other estate~ d eny sa is stat~ed Serein; tha1, he hus full power and lawiul right t,o a~nvev the shma as afareseid; Wi~~ the land is iree Erom sll encuanbr~nces excepL as 6ere~n ot.herwise recilsd; t6aL said~tortgugor ~viU moke such furiher asaursnces to pmvo the aforesaid Litle to eaid Isnd ia said Mortgagee as may be reuson- ablyrequired~ and th~~ said Mortgsgoc does hereby fuAy wursnt the tiLle to said land, ~nd every put thereot~ aad ~rill detend the same agsinst tbe I~wf ul claims oi W pereons whomsoever. PaovtosD AL~?~YS tb~t it tha ~11o~tgsgor shall pay unto the Mottgages Lh~t cartsin promissory noto, oi which the following is ~ aubetanwal ooPS~ to wit: = 26,800.00 St. Lucie County ,~lorida May 16 ,197 9 . Foa Yw~.us Rscravsn~ t6e undersi~ned prorniee(e) to W4Y ~ SOUTHERN MORTGAGE ASSOCIATES, INC., authorized to do business in the State of Florida ~ ~ oorporstion org~ni:ed aud e~osting uader the bwe ot Arkansas ~ P~pP~ ~m ot TWENTY-SIX THGUSAN~ EIGHT _ HUNDRED and 00/100--------------~~ 26.800.00~ iro~ ~ the rste ot Ten per oeatum ( 10. P~ ~um oa the unpaid balanoe unW paid. The eaid principal and interest shaU be pay~ble at tLe o~ce ot Southern Mortgage Associates, I~c., 1999 SW 27th Avenue ~ Miami, Florida 33145 ~ or at euch other plsoe ae the hdder msy desigaate ia writing deliverad or miWed tio the debtor, in monthly inatallmente of ~n~p Y~u~red thirty-f iVe a1x1 19j1QlA~llare (i 235.19 ~mmencicwg on the 6rat day of Ju].y , 19 79 , and oontinuing on tbe first day oi eacL month thereafter until this note is tully paid~ except thst~ if not eooner paid, tbe final psyment oi principal and interes~ shall be due and psysble on the firat dsy oi J~ ~ 2009 • priv~],age is reserved to prepay st any tims~ without premium or fee, the entire indebtedaess or any part thaeot aot las t6an the anwunt o[ oae i~tallmeat, or oae hundred dollus (;100.00), whichever is less. Prepayment in tull shall be credited oa the date received. Pariia! prepayment, other than on m installment due date, deed not be credited until the ae~ct followin~ insta~4nent due date or Wirty days after wch prepayment, whic6ever k eulier. Ii sny deficiency in the paym ent of eny inst~?llment under this note is not msde good prior to the due dste of tLe nezt auch inatsllment, the eutire principal sum and accrued interest shall at once become due snd psy- able without notice at the option oi the holder of t,hi~a note. Failure to eaem,ise thia option ahall not oonstatute s waiver of the right to eaemise the same in the event of sny subaequent defeulL. In the event of deisult in the payment of this aote, and if the asme is collected by sn sttorney at law~ the underaigned hereby agree(s) to pay all oosts of collection, including s reasonsble sttorney's fee. This note is eecured by mortgag_e of even date executed by the underaigned on oertsin pmperty described Lherein and repreeents money actuauy used for the scquisition of said property or the improvemente thereon. preeentment~ protest, and notic~s are 6ereby waived. ~sL Earnest Williams, Jr.~___ ~~,I EARNEST WILLIAMS, JR. ~~_Vertell Williams ~~L~ VERTELL WILLIAMS ~s~?L] [s~?L] And ahaU duly, pmmptly, and fuUy pedorm, discharge, execute, eSect, complete, and comply with and abide by each and every the stipul~tions. agreements~ conditions, and oovenants of said promissory note and of thie mortgage, then tnis mortgage and the estate hereby created shall cease and be nuU and void. The Mortgagor further covenants as followa: 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 thau the amount of one inatallment, or ~ one hundred dollars (~100.00), whichever is less. Prepayment in full sha11 be credited on the date recei~ed. Partial ~ pmpayment, other than on an installment due date, need not be credited until the next [ollowing instaliment due date or ~ tl~irty days after such prepayment, whichever is earlier. ~ 2. In order n?or~ full~- to prote~t th~ sF~curit~~ of this ~nort~a~e, the ~-lortga~?or, togetL~r witl?, and in ~ addition lo, th~ n~onthl~' pa~'ments under 1h~ ternis of tlit~ note sPCUred hc~reU~-, on the first da~• of cach tnonlh ~ until lhc said noie is full~ paid, will pn~• to th~~ ;~tortKaK~~, as trustee, (under ttie terms of this trust as }?erein- etter stated) t{?e [ollowing sums: ~ (s) A eum equsl to the ground rents, if any, next due, plus the premiums t6at will ne~ct become due and payable on policiee of fire and other hasard insurance covering the mortRaged property~ plus taxes and asse.3sments ~ next due on the mortgaged property (all as eatimated by the Mortgagee and ot which the Mortgagor is noti6ed) lesa sll sume already paid t6erefor divided by the number of months to elapee before one month ~ prior to tbe d~?te ~vhen such ground rents, premiums, taxes, and aesessments will Lecome delinquent, ~ euch auma to be held by Mortgageein truettopaysaid ground rents, premiums, taxes, aadspecial ss,~sments. ~ (b) The aggregate of the amounta payuble pureuant to subparsgraph (a) and thosepa yeble on the note secured ~ hereby, shall be paid in a eingle psyment each month~ to be appl~ed to the foUowing items in the order ~ stated ~ (I) ground rents, taxes, sesessmenta, tu+e~ and other hasard insurance premiume; ~ (II) intereat on the note eecured hereby; and (III) amortiastion of tt?e principal of said note. ' Any deficiency in t6e amount ot such aggre~ate monthly psyment shall, unless made good by the Mortr ; gagor prjor to the due date ot the next such peyment, const~tute an event of detault under th~s mortgage. ; At Mortgagee's option, Mortgagor wiU pay a"late cl~arge" not exceeding four per centum (4°Jo) of any inslall- ment when paid inore than S[teen (15) days after the due date thereof to cover the extro Pxpense involved in ' handling delinquent pay ments, but such "late charge" shall not be payable out of the procecds of any sale f made to satisfy the indebt,edness secured hereby, util~s such proceeds are sufficient to d~scharge the entire ~ indebtedness snd sll proper costs and expenses secured thereby. 3. 1f the total ~f the pa~-ments iuad~ b~• the Mortgngor under (a) of para~ruph 2 pre~edinR shall exceed ~ the amount of pa~•menls actuull~• n~a~l~ b~~ t~ie :11ortKaKce, as trustee, fnr Kroun~l rents, taxes and asses.cments, ~ and insurance premiun~s, 8.4 IIIP P85P IIIH~~ bc~, such Pxcess sl~all lx~ credit~d on sutneyuent payments to be made 3 by the :Kortga~or ~or su~h itPms or, nt ~tortgn~ee's option, ag trustee, shall be refunded to MortgaE;or. If, ' however, such mont,lil~- pa~-mcnts ShnD not t,c~ suffirient to pa~- s<<•h iten~s when the sarne shall become due end pa •able, then thc :~1ort~aRor si?all pn~• to the Mort(;n~P~•, as ruste~, nn~• amount necessarv to make up ; the de~ciene~•. 5uch pa}-ment shall t~ ma~1e Kithin tl?irt}~ (:i0) da~~ after written not.ice from the Mortgagee stating the amount of the deficiency, which notice msy be given by msil. If at sny Limme t6e Mortgagor shall ? ~ GR E~~~K ~09 ~r:~: 122 ~ ~ ~ ~ ~ - ~ ~ , , : Y~ ° i;y,'~.. . . ~ . ' . ~ N~~~~