HomeMy WebLinkAbout2097 . . ,
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'1'he Mortgagor hereby oovenaats with t6e Mortgageti that he is indeCeyib~y ~eir,ed o~'sitd land ia fes
im or aucD otbar estatet J aqy as is ~tated 6srein; tbat~ he 6as tull power arid IawLui righ~ to couvev t6e s~me ~
aa LL~~ Ws laud u tras ~rom ~Il ancuaobranca exospt as hersia otherwise recited; Wut aaidlviortgagor
will maks such iurtbsr a~sunaoe~ to gro~e the dorasid uNe to said laad ia iaid Mortg~ges as m~~ bs re~?son-
required, ~nd thst aid Mo~agor cbes b~ersby i~ warnut t~he tiUe b said land, aad ever~ par~ Lhereot,
~wiD detend t6~ ~ame agsiost th~ 1~Mriut cLims at pae~uas whomsosver. ~
FiOYID~D ALNATS W~~ It tL0 MO~O! alfiU py 11IIL0 ~ MOtf~~e0 tLiL CltkLO ~'OIDir01'~ DO~~ ot
~~L Lb° i°v'°~ r~ subsV°t~at °°pf' t° ~ti~ Fort Pierce , Floeida. ~
= 31, 000 .00 July 9~ 1~79 .
Foa V~.vs Rscst~sn, tbe w~de~ed P~'omi~e(~) t~o P~1Y ~ SOUT'HERN MORTGAGE ASSOCIATES,
INC., authorized to do business in the State of Florida
~ s oo~po[ation or~nised aad eaodin~ under t6s ~
4ws aE Arkansas -----a ~ P~~ ~ ~ ~irty-one thousand------ ~
and 00/100----------- ' Ddla~s (i31,000.00 ~ i~ ~ t
t6s est~ ot-------Ten---------- per oentum (10 Per aoaum ou the unpaid balaaoe until p~id. ~
The a~ principol and;nt~est ebaU be pw?sbie at the oBioe ot Southern Mortgage Associates,
1999 SW 27th Avenue . ~
t
in Miami, Florids . or ~?t such other daoe aa t~e holder may desi~ate iw writina s
delivered or mailed to the debt,or, in maathly installments af Two hundred seventy-two 18/100~~ ~
272.18 O°0°1q~~ aa We 5ret d~?y oi Auqust , 19 7S. ~ad oontinuiaa on t,he
fiist d~~ oi e~ch month tLereafter until thia note is fuDy paid~ exoept that~ if noti sooner paid, t~he final payment ;
of psinc~pal snd intsres6 ehaU be due sad payable on the ficst day oi July ~ 2009 ~
pririle~e is reserved to prepsy at aa~ fime~ ~vithout pnmium or fee. the entire indebtednees or any par~
thereoi not !es Ww tM aaaount ot one LntiUment, or oae 6undrM dollus (i100.00), ~iCbe~r i~ k~. PreP~Y~Qt in tuQ ~
s6all be ercdited on t6e d~te ceoeh?ed. tattid P~P~?Y~k othet t6an oa aa ~allanent due dtte. aeed not be ctedit~ed untU ~
t6e ns~ct tdlowin~ in~tallaaeat due date ot thirty ~ys attet sucb peepayment, whicherar b a~rikr. ~
I! aqy de6a~ancy in the payment of any i~tallmenti under tLis note is not msde good prior to the due date ;
of the nest such installmenk the entire princiPsl aum snd ac~'.rued intere°t s6sll st onoe beoome due and pa~-
sble without notioe st tLe option of the 6older of tbia note. Failure to esercise tLis option ahall aot ooms4tute
s waiver of the right to esercise the same in the event oi aay aubsequent detaW~ In the event oi defsul~ in the
p~?ymenti oi Lhis note, and it the s~me is oollected b~ sn ~ttorne~ st law, the underaigned Lereby agree(s) to
psy sll oosts oi oollection~ including s ressonabla sttorney's fee.
Thia note is eecured by aaortga~e oi even dste e~cecuted by the nndereigned on oertain property described
therein and repreeenta money actualty used for the acquiaition oi aaid pmper6y or the impi'ovements thet~om
presentment, pmtest~ and notice are hereby auved. ~
{
~[,~j ~ohn 1~itaker. Jr. [~t,] i
i
JOHN WHITAKER, JR. ~
Franc~ ne A--Whi aker [gBAL] ~
FRANCINE A. WHITAKER
[~l ~
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~ And shall duly~ Proa?PtIY~ snd fully pedorm, discharge, execute, eftect~ complete, snd oomply with and sbide
a by esch and ever~r the stipulations, agreements, conditiona, and aoveaanta oi said pmmiasor~? note and of this :
mortgsge, thea thia mortgage and t6e eatste hereby created ahall ceaee sad be null and void. i
~ The Mortgagor further ooveaante a8 follo~vs: t
l. Thst ~ willps
y the indebtedness, as hereinbefore provided. Privilege ia reserved to prepay st aay-time~
without preanium or fee~ the mtire indebtednea~ or any psrt thereof not le~ thaa t6e amount ot one installment, or
one hundred doUus (s100.00). w6id?ever is less. Prepayment in tuU shall be ciedited on the date received. Partisl
prepryment, other t6an on an installment due date, need not be credited until fhe neat tollowing installment due date or
thirty drys after such PreWYa?~t, whicheve~ ~S eariier.
2. In order ~nore full~ to protect the securit~• o( this mortgage~ the Mortgagor, together with,~and in
addition to, the monthl~ pa~menta under the trrms of the not.e aecureci hereby, on the first da~' of each month }
until the said note is fully paid, will pay to the Mortgagee, es trustee, (under the tern~s o( lhis truat as herein-
att,er stated) the following sums: ~
(s) A eum equal to the ground renta, if any, ne:t due, plua the premiuma thst wiU next become due and psyable 4
on policies ot Sre sad other hasard insuraace ooverwg t6e mortgaged property, plus tsxes and asses~menta :
next due on the mortgaged property (sll aa eatimi?ted by t6e Mortgagee and of which t6e Mortgagor ia ~
noti6ed) lese all sums alresd paid therefor divided by the number oi montha to elspee before one month . g
prior to the date whea su~ 6round teats~ premiuma, taxes, and aeeeesments will become delinquent, ;
euch euma to be held by Mortgageemtruattopsq8aidgroundrente,preroiums,t~es,andspecialaeeeascnente. ~
, (b) 1'he ag~te of the amounts pa sble pureuaat to aubparagraph (s) and thoee psyable a? the aote ~red
~ hereby, eball~be ps~d in s an~ Pt?Ymeat esch mont6, to be applied to t6e f~low~ng iteme in the order
atsted
(n ~tnd rents, taxee, aaeesaments, 6n, and other hassrd insurance premiums;
(II) interest on the note sec~red hereby; sad -
~ c~~n ~o~.~?~ ~r ~ p~p~a ~ ~a nou.
~ Any deficiency in ttie amount oi suchaggregate monthly ~syment shsll~ unleas made good by the Mort- q
gagor pr~or W the due dste of Ehe next such psyment~ conatitute an even~ ot detsul6 under thia mortgage. ~
At Mortgagee's option, Mortgagor will pay a"Iate ci~arge" not exceeding four per centum (4%) of any install~
ment when paid more than Sfteen (15) dsya atter the due date thereof to cover the eactrs expense involved in =
handling del~nquenL psyments, but such "Iste charge" ahall not be payable out of the proceeds o! sny asle
msde to satiafy the iadebt~dness secured hereby, unless such proceeds are sufScient to dlscharge the entire ~
indebtedness snd all proper costs and eapensea secured thereby.
3. If the totel oi tl~e parments n~ad~ b~ thp Mortgngor under (a) of para~:rnpl~ 2 precedinR ahall exceed ~
the nmount of pa~~ments actunll~• mad~ b~• t ~e Aiort~s~Cer, as truste~, for.ground rents, taxes and as.gessments,
and insurance premiums, as the case ma~~be~, such excesa al~all be credited on subeequent payments to be made ~ ~
by the Mortgagor for such items or, ut Mortgagep's option, as truatee, shall be refunded to Mortgsgor. Ii, T
ho~vever, such montld~ pa~ ments shall not Ix~ suffi~•ient to pa}• su~h items when tNe same ahall become due I~ ~
and pa •sble, then the MortRa{~or shull pav to the :41ort~ta~ec, as trustee, an~ anioun~ neceasary to mske up C~
the de~cienc~. Such pa~•ment slisl) b~ n~~e within thirtv (:i0) devB efter written notice trom the Mortgagee ~ ~
st~tiag the smount of the deficiency, which notice msy be given by mail. If st any time the Mortgsgor shall °
v ^Y.~G'~'..~i.-S 4-•..
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