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Home My WebLink About0226 The Mort~;agur hereby covenaata with the ?1'iurtgac;e~~ that he ia indetesciblT seized of said laad in fee simple or such othec estat,e, J any as is stat,ed herein; thai, he hua tull {wwer and lawiul right Lo ooDVev lhe seme aa aforesaid; lhat the laad is iree ~eom all eacumbrencea except as t~ercin otherwise recit.ed; l6at said~iortgugur wilt make such further assurances to provo t6a aforesaid title t,o said tand in said I~4ortgagee as maq be re~?son- ~blyrec~ uired, and that said Mortgagor does hereby fully warrant the tit,le Lo said land, and every part t,l?ereot~ and will defend the same agaiast the l4wful clauns of vll persoas whowsoever. PROVIDED AI.WAYB ~hbt lI tt18 ~ZOT~8g0~ SbiII ~1`y UII~O ~6 MOl1~'8g80 ~w~ Ce~L81I1 pI'OIrilSSOPY AOLB~ oi which the follovring is t aubat~autial copf~ to ~vit: = 43, 000. 00 St. Lucie County, I~lorid~. _ May 18 ~ 19 7 ~ FOR VALUB R~CEIVED~ the undersigped promise(s) to psy to SOUTHERN MORTGAGE ASSOCIATES , INC., authorized to do business in the State of Florida , a oorporetion organi~d aad e~dsting under tha lawe of Arkansas ~ or order~ the principal sum ot Forty-three thousand and 00/100-------------------"'- DO~ 43, 000. 00 ~vith intereat irom date at the rate ot Ten per eentum ( 10 P~ ~um on the unpaid balance until paid. The said principal and intcrest ahall be psYable et the office of Southern Mortgage AssoCiates, Inc., 1999 SW 27th Avenue ~ Miami Florida 33145 ~ or at such other pl~ ss the holder may deaignete in writing delivered or maile~ to the debtor, in monthly installments of Three hundred seventy-seven a~nd ~~Q (i 377.56 commencing on the first day of July , 1W9 . and oontinuing on the first day of each month thereafter until this note is fully paid, eacept that~ if not sooner paid, the finsl payment oi princ~pal and interest shall be due and paysble on the first day of J~ , 2009 • privilega is reserve~ to prepay at any time~ wit6out premium or fee, t6e entire indebtedneas or any part thereot not less than t6e amouat of one installment, or one hundced dollus (a100.00)~ whichever is less. Prepayment in full ahall be credited oa the date received. Putid prepaymeat. other than on an installment due date, need not be ctedited until the next following iastallmeat due date or thirty days a[ter such prepayment, whichever is eulier. If sny deficiency in the psyment of any inst~illment under this note is not made good prior to the due date of the neat such instaWnent, the entire principal sum and accrued interest ehsll at once beoome due and psy- able without notice at the optaon of the holder of this note. Failure to exercise this option ahall not oonstatute s waiver of the right t~o exercise the same in the event oi any sub~equent default. In the event oi deisult in the payment of this note, and ii t6e same ie collected by an attorney at law, the undersigned herebp agree(s) to pay sll costa of collection~ including s reasonable attorney's fee. This note is secured by mortgage of even date executed by the undersigned on certain property described therein and representa money actually used for the acquisition oi said proper6y or Lhe improvements thereon. Presentment, protest. and noticas are hereby waived. w~ ~~r~r ~ t~4' C?` ~ ~~s~Kenneth C. Blanchard t ~ ~ ~ ~ .~ENNETH C . BLANCHARD ~ ~/~,I~~ari~on C. Blanchard [~L] ~`y MARION C. BLANCHARD , , ~ ~ ~ ~ ~ ~_r_ , - ~ [s~?Ll And shsll duly, promptly, and fully pertorm, discharge, execute~ eftect~ complete, and comply with and abide by each and every the stipulations, agreements. conditions~ and covenants of said pmmissory note and of thia i mortgage, t6en this mortgage and the estate hereby created shall cease and be nuU and void. ~ The Mortgagor further covenants as follows: 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time~ F without premium or fee~ the entire indebtedness or any psrt thereof not less than the amount of one installment, or ~ one hundred dollus (~100.00), 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 earlier. ~ 2. In order mor~ full~- to protect th~ securit~- of thi.s mort~age, Uie Vfort~a~or, together with, and in ~ addition to, th~ monthl~• pa~•n~ents under th~ terms of thr not~ se~ured h~reb~•, on the first da~- o( each month until tl~e said t?ote is f~ll~• paid, KiU pa~~ to th~ ~1ortRaK~e, as truste~, (und~r tl~c t~rms of this trust a5 herein- aftcr stated) tLc lullo~in~ sums: (e) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable on policies of 5re and other haaard insurance covering t6e mortqaged property, plus taxes and asse.ssmenta next due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is ~ notified) lesa all sums already pa~d therefor divided by the number of months to elapse before one month ~ prior to the date when such ground rents, premiums, taxes, and assessments will become delinquent~ such sums to be held by Mottgageeintruattopsysaidgroundrents,premiums,ta~ces,andspecialassessments. ~ (b) The aggregate of the amounts payable pursuant to subparagraph (s) and those payable on the note secured hereby, shall be pa~d in a eingle payment each month, to be applied to the following items in the order stated ~ (I) ground reata, taues, assessmenta, fire, and other hazard insurance premiuma; (II) interest on the note aecured hereby; and (III) amortisation of Lhe principal of esid note. ; Any deficiency in the amount of such a~~re~ate monthly payment shall, unless made good by the Mortr ~ gagor pr~or to the due date o( the next such payment, consti~ute an event of default under this mortgage. At Mortgagee's option, Mortgagor will ps~ a"late cl~arge" not eaceeding four per centum (4%) of any install- ~ ment when paid more than fiftecn (15) days after the due date thereof to cover the extra expense involved in ~ handling deLnquent ~ayments, but such "Iate chsrge" shall not be payable out of the proceeds of any sale ~„o ~ made to satis[y the mdebtedness secured hereby, UI1~C3.4 SIIC}1 proceeds are sufficient to d~scharge the entire ~ 'z indebtedness and all proper costs and expenses secured thereby. ~ ~ 3. I( tiie total ~f th~ pa~'in~nts n~nd~ h~- the `'Iortgagor under (e) of pnra~raph 2 prFCedin~ shall exceed ~ ~ tLe amount oi pa~-inents a~tuull~- n~a~f~ hr t~~e ~tortKaKe~•, ag trustec, for Kroun~l rrnts, taxes and asses.~ments, ~ and insurance prnn~iunis, as thr ~~us~ mu~•~b~, su~h PxcFSS sl?all t,c~ credit~~1 on subseyuent pa~•ments to be made p ~ b~ the 4lortgagor for su~h ite~us or, ul ~tortgnR~P's option, as ttustcr, sl?ell bP refunded to MortRagor. If, T ~ however, su~h monthl~- pa~-ments Shnll not 1?r suffiri~nt to pa~• su~h ite~ns when the samP shall become due ~ and pa~aLle, theT? thc L1ort~a~or chull pn~- to th~ tiiort~a~~~•, us lruste~, nn~- amount necesserv to make up k the de~icien~~•. Such pa~-~nont shall b~ niade within thirt~' (:i0) dn~•s a(ter w-ritten notice frorn t~e Mortgagee ~ stating the amount of the deficiency, wl~ich notice may be given bp mail. I( at any time the Mortgagor ehall ~ ~ ! _ Y . - - ~ `~y: ~ ' ~ ~