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Home My WebLink About1156 The blorLgagor hereby covensate with the I?ioregager, t4at he ia indeteaau seazed o~ spid Lnd ia fee e simple or such ot~her estatet J way as is atat,ed herein; tha6 ha has full power and l~w~ul rigbt to ooo~ev the snme as stares~id; th~~ the lsnd ta Iree ~rom all encumbrances except as herein otherwisa recited; tha~ said~viortgagor ~vill make such further ~saurances to provo the aforesaid title Lo said land in said Mortgagee ~s ma~ be rexaon- ablyreq ui~ed~ snd th~t said Mortgpgoc does hereby tully wrarrant the title to said land, and every par6 theroot~ and ~vill detend the eame agsiust the lawiul claimr oi W persons ~v6om.goever. PROViDSa AL~r~YS tdst it the !~iortgagor ahall pa~ unto ths Morigagee that oecf~in promiesory note~ oi which the following is ~ subetwLia! oopy~~ to wit: = 37, 400 .00 Fort Pierce , June 26 .19 79 . FoR V,u.vs Rsccs~vsu~ the undersigned promise(s) to ps?y to SOUTHERN MORTGAGE ASSOCIATES, INC., authorized to do business in the State of Florida ~ s oorporatian organiied aad eastins uader the bwe of Arkansas ~ or order~ the principal eum of ~ Thirty-seven thousand four hundred and 00/100--------Dolla~s 37, 400 .00 with interest lrom date st t6e rste ot ------Ten---------- per centum ( 10 Pee' aanum on t6e unpaid balanoe unW paid. The aaid principal and iaterest ehall be psyable at tl~e o~ce oi Southern Mortgage Associates, ~ Inc., 1999 SW 27th Avenue . in Miami, Florida ~ or at such other pla~oe aa the ddder may deeignste in writia6 delivered or mailed to the debtor, in monthly inataUments of ~ee hundr+ed twenty-eight 37/10(bolLrs 328.37 commencing on the first day of Augu.st , 1979 , and ooatinuin~ oa t6e 6rat dsy of each month thereafter until this note is fully paid~ except thst~ if not sooner paid, tha final psyment of p~ncipal and interest ahall be due and psyoble on the first dsy oi July , 2009. privile~ge is reserved to prepay et sny time, without premium or fee, the entire indebtedneea or any part thereof not less t6an We amount o[ one in~taltment, or ot~e hundred dollaes (=100.00), whichever is less Yrepayment in full ~hall be credited on the date received. Partid prepaymeot, other Waa oa an instaliraent due datr. need not be credited uatll the nent tollowin~ instdlment due date or thirty days atter such prepaymeat~ wbichever is earlier. If any deficiency in t6e pay ment of sny instsllment under thia note is not made good prior to the due date of the ne~ct aucL installment, the entire principal sum and accrued intereat shntl at once beooma due and pay- ~ble witLout notice at the option ot the holder of this note. Failure to ezercise this option shall not oonat~tute ~ waiver oi Lhe right to e~ercise the same in the event of any subsequent default. In the event oi detault in the papment of t6is note, snd if the same ie collected by sn sttorney st lsw, the undersigned hereby agree(s) to pay all coste of collection~ including a ressonable sttorney'e fee. Thia note ia secured by mort~a~e of even date executed 6~,t,hs:uuderaigned oa eer~ia`properiy deeeribed therein snd represents money actually used for t6e acquisiU"on oi said property or fhe unprovements thereon. Presentment, pmtest. and notic~s are hereby v~aived. - ~ • - • . - , 1~.~ge- D . • Sou~therd ~ GEORGE D. SOUTHERD 15./ rloria C . Southerd GLORIA C. SOUTHERD " _ [s~r?L] , (s~r?L) _ I~ And shsll duly~ promptly, and fuUy perform~ discharge~ execute, eRect, complete, and comply with and abide i by each and every the stipulations, agreements~ conditiona, and covenants of said promissory note and of this ~ mortgage, t6en this mortgage and the estate hereby created shaU ces~e aad be null and void. ` The Mortgagor further covenants as followa: 1. That he will pay the indebtedness~ as hereinbetore provided. Privilege is reserved to prepay at any time, = without premium or fee, the entire indebtedneas or say part thereof not less than t6e amount of one instatlment, or one hundred doqars (5100.00), whictiever is less. Prepayment in [ull 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 a[ter such prepayment. whichever is earlier. ~ 2. In order mor~ full~- to protect the sc~curit~- ot this IliOl~~BP.,P~ the ~fortga~~r, Logether with,~and in addition to, th~ ~uonthl~- pa~•menta under th~ t~r~ns of thr note se~~ure~l h~reb~•, on the first de~• of each month ~ until tLe said not~ ia (ull~• paid, will pu~- to th~ 1~1ort~a~Pe, a.s trustPr, (und~r th~ t~rms of thi.g trust ag herein- ~ aftrr stat~d) th~ f~?IloNing swns: ~ (s) A sum equal to the ground rents, if any, next due, plus the premiums t6at will next become due and payable ` on policiss of fire and other hazerd inaurance covering the mort~aged property, plus taxes and assessments ~ next due on the mortgaged property (all sa estimate~ by the Mortgagee and of which the Mortqagor ia ~ noti6ed) lese all aums already paid therefor divided by the number of months to elapee before one month ? prior to t6e date w~hen such ground renta~ premiums, taxes, and sa9essmenta wiA ~ecome delinquent, such sums to be held by Mortgsgee in trust topay said ground rents, premiums, t~aaea, and apecial assessments. z (b) T6e aggregate of the amounta~able pureuant to aubparagraph (a) and thooepayable on the note ~+ecured~ ecu ~ 6ereby, eLsll be paid in a e payment each month, to be applied to the foUowing itema in t6e order ; rtated ' (I) ground renta, ta~ces, aasessmenta~ 5re, aad ot6er hasard insurance premiums; # (II) interest on the nute eecured hereby; and ~ f I1I) amortisstion of the principal of asid note. ' Any deficiency in the amount of such aggre~ate monthly psyment sha11, unless made good by the Mor~ ; gagor pr~or to the due date of the next such payment, constitute an event ot default under this mortgage. ~ At Mortgagee's option, ~1orLgagor will pay a"late cl~arge" not eaceeding [our per centum (4°Jo) of any install- . k ment.when paid more than 6tteen (15) days after the due date thereof to cover the extra expense involved in ~ hsndling delinquent pavments, but such "?ate chsrge" shall not be pa} able out of the proceeda of sny sale g7Q = made Lo astiafy the ~ndebt,rdness secured hereby, unlea4 such proceeda are sufficient to diachacge the entire ~ ~ indebtednesa and sll proper costs snd expenaes secured thereby. t.i. ~ 3. It thP total of th~ parmPnts mn~i~ t?v the Mort~tn~or und~r (8} of paraRrnph 2 precedinR shall excced ~ ~ ~ ihe amount of ps}-i~~Pntg actuall~• nia~l~ br t~ie ~1ortKaKei•, as truste~, tor ~roun~l rc~nts, taxes and a8.4es.cmenta, ~ and insurance pr~iniuins, a.g th~• ~'8.4P II1H\' M', RUC}I PXCPSS SI18I) IH' C~P(Ilt(`(~ OIl SUI~P(~UPiI~ p9~II1Pi1~.4 CO bC 1i1~C f b~ the 1~iortgaKor for su~h it~~nc or, nt~~tortgnltPP's option, aa trustee, shal) bP r~funcied to Mortgagor. If, ~,y _ ~ however, such n~onthl~• pa~•ments sheU n~t i?r suffi~•ient to pa~- su~•h ite~ns when the satne ahall become due ~ ~ and pa~•eble, then thc ~1ortRa~or shall pn~• to thr ~tort~a~PC, as trustee, nnr amount necessary W mske up ~ , the de~icienc~•. Such pa~•~n~nt sl?nll b~ n~a~le within thirt~ (:t0) da~~ aftPr w-ritten notice fro~n the Mort~~iCee rf~