HomeMy WebLinkAbout2102 The Mortgagor bereb~ oooenants wit~h ths Mortgagee. thsti he is indeiw~iM seised d t~ Lnd in fes
~im or auch ot~6er es~ste~ d s,q~ aa ia stated hereia; that lrs has tull power and I~~ul.rigbL to eoa~av the w?ms
r~i~rasaid: f~t tLs Iand» tres ~e~om a1l ezoept as heceia o~6erwire rec~Led; thaL eaidlViortg~or
will make wcb furU~ee a~sutaaoes to pro~e ths afoe~e~aid tiWe b said lwd ia said Mortgsges aa ma~ be rea~oa-
~j required. and tbat said Mariaa~or iloe~ Lereb~ i wuran0 tbe vtJe to wid land, sad e~er~ part t~heceoi,
~nd will detmd t6~ Ntue ~gains4 t~hs l~~rid daim~ oi~ ps~~oas wLomsosvec.
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PtOYID~ ALweYt that ii tbe Mort~i~~r ~hall pa7 unto ths 14iort6~6'es t~L~L ceetain promi~ory note, ot
wbich tb° t°U°~ric~ is a~ub~taaLial ooPJ' t~o'~~ FORT PIERCE , PSo~id~.
i 53, 000 .00 JtJi,Y 11,19 79 . '
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g~ V~s ~sa, t,60 undeni~ned promise(s) t~o py? to SOUTHSRN MOR'PGAGS ASSOCIATES,
INC., authorized to do business in the State of Florida
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s S a0~0[LtlOd Oi~LI~E~ iAf~ ~ 11IIdOT ~0 ,
~ , pr,n~ap~l eum oi Fif ty-three thousand and `
bws at Arkansas °t °i'~ ~1° ~ ~
00/100----------------------------Dollus (i 53, 000 .00 with iatere~t irom dst~e at ;
ths rst~e at ------Ten-----------P~ ~ 10 P~ ~um cn tbs unpaid ba4~noe unW paid. ,
1be s~;d pr;ncipai,od;nt~erest shall be psyable at the o~oe ot Southern Mortgage Associates, '
Inc., 1999 SW 27th Avenue
in Miami, Florids , or nt ~uc6 other plaoe as t6e hdder myr deai~nste in wdtina
d~~~ in monthly installmant~s of Four hundred sixty-five & 34/l0UDo14rs +
(i 465.34 commeaein8 oa t6e 5rat day of August , 1979
first da~ oi each mont6 LLereatter until t6is note is iuIly paid. eaoept tL~~, if not sooner paid~ tbe 5n~1 paymenti
of princiW?1 and interesL eb~ll be due and payable on the SrsL day oi Jp~y 2009•
pri~il~eas ia sesecved to prepa~ aL any time, witLout premium or fee. We entire ind ~edness or any Part
thereot aot le~ thw the amount of ~ae in~tallment, or one 6uadced doUaes (=100.00), whk6erer 41eu. Ftepayment ia tull
d~all be credited on tbe date recehred. Pa~tid PnP~Y~k other than on m instapmeat due date~ need aot be credited uatil
the neact fo8owia~ indallmeat due dde or thiity days atter ach prepsymeat, whicherer 4 eartier. ~
Ii ~qy deSciency ia the payment oi any installment under tLia note is not msde 8ood prior to the due dsts
of the ne~ such u~atallment~ the entin priacipsl aum and uccrued interest ehall ~t onoe beoome due and pay-
able witLout notice st tLe option of the holder oi tbia note. Failure to ezercise tbis option a6all not eoustttuts
ia
s aaiver of the right tio ezerciee t6e same in the event of any subsequeut defsul~ Ia the eveat oi detault ia tha
P~Yment oi this note, and ii t6e same is oollected b~ an attorne~ at Lw, the underq~nad hereb7 agree(s) t~o
psy all e~osts of oollecLion, including s reseonable attorney a fee. ,
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This note ia eecured by mortga~e of even dste ~ ted by the undereigaed_on-ae~un ProPei't
~d~
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~eteia snd repi+eeents money actusUy used for the uisition oi s~id propertiy o~ t~s,in~pt~o em4n
Presentmeat. pmtes~. and notion are hereby waived. ~
s R be~ct G. Johnson [sar?t,]
- ROBERT G. JOHNSON
/c /r.; nAa M _ Tnhns~n [gSAL]
LINDA M. JOHi~iSON
[~?L]
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'j And ahall dulY~ Pro~P~Y~ and fuUy pedorm, discharge, execute, eHect, oomplete, aud comply with aad abide
~ mortgage, thea t~ mortgage~and the ~te he by created ehall ceaee and be~
uU and void. ry note and af this
~ . The Mortgagor further oovenante sa followa:
E 1. Thst he willps
y the indebtedness, aa hereinbefon provided. Privilege ia reserved to prepsy at any time,
~ witl~out premiutn or fee, the ~tire indebtedneas or any part thereof not lees thaa the amount of one installment, or
~ one hundred dollars (=100.00), whichever is less. Prepayment in fuU a6a11 be ceedited on the date received. Partial
prepaymeat, othet th~n on w in~tallmeut due date. need not be credited until the aeat [ollowing instaAment due date or
tbitty days after such prepayment, whichever is earlier.
2. In order. ~nore full~ to protect. the securit~~ of this mortgage, the Mortgagor, together with,~snd in
addition to, the monthl~ pa~~nenta under the terms of il?e note secured 1?ereby, on the first da~ ot each month
until tlie said notc is fall~ paid, will pa~• to the MortgagPe, as trustee, (under the terms of lhis trust as herein-
after atated) the following swns:
(s) A eum equal to t6e gcound rents, if any~ ne:t due, plus the premiums that ~vill next beoome due and payabk
on policiea of fire and other ha:ard inaurance coveruig the mortgaged PropertY, Plus taxes and sasessmenta =
next due oa the mort6sge~ property (a11 es eatimated by t6e Mortgagee and of which the Mortgsgor ia ~
aoti6ed) lese all euma alrEadY Psid thenior d~vided by the number of montha to elapee before one m~th
prior to the date when suc6 ground reate, premiuma, taxes, and aeeeaamenta will become delinquent,
such sums to be hdd by Mortpgeeintruattapayesidgroundrente,premiu~ns,ta:ea,andapecialaese~rnenta.
(b) 'th~ agg~ste o{ the amounta peyable pureuant to eubpsragrsph (s) and thoeepa~
yable on the note eecured
6ereb , s6all be psid in s aingle PsYmea! each month, to be applied to the t~lowing iteme in the order
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~ (n gound r~te, ta~cea, aae~am~ts, fire, and other hasard insurance premiuma;
~ (II) intereat on tbe note sea~red hereby; aad
~ (IIn emorti:stion o~ the principal of eaid note.
Any deficiene.y in t6e amount of suchaggregste monthly ~aqment shsll; unless made good by the Mort-
~ gagor pr~or to the due date of the next such psyment, const~tute sn event of defsult under this mortga~e. '
~ At Mortgagee's option, Mortgagor will psy s"lste charge" reot exceeding four per centum (4%) of sny install-
ment whea paid more th~n Siteen (15) dsys atter the due dste there~f to cover the eatn expense involved in ~
hsndling delinquent paqmenta, but such "Iste charge" shsll no~ be psyable out of the proceeda of sny sale ~
made to sat~sfy the ~ndebt~edness s~cured hereby, unless such proceeds ue sufficient to d~schar~e the entire i
indebtedness and all proper costs snd expenses secure~ thcreby. ~
3. 1f the total of the pa~ ments made b,• the Mortgugor uncler (e) ot paragrnpl? 2 preceding ahall exce~ 1'~'
the smount o( pa~menta actuoll~ mad~ b~• tF'e ~'torLgaKec, sa trustee, for ground rents, taxes and aasesamenta~ T~
snd insurance premiw~~s, as the case ~nar be, such excess shall be credited on subsequent payments to be made -o
by the Mortgagor for such items or, at Mortgngee's option, as trustee, shall be refunded to Mortgagor. If, ~
however, su~h mont)dy pa~ ments shall not t~ suffi~•ient to pa~ such items when the same ahall become due ~
and pa •able, then El?c Mortga{:or shnll pn~ to the Mort~a~ee, a4 trustee, an~ a~nount necessary to make up ~
the de~ciencv. Sucli pa}-ment shaU be marle within thitty (30) ds~^a after written notice trom the Mortgagee
sbting tbe amount oi the deficiency. which notice msy be given by mail. It at ~ny time the Mortgagor ~6all S ~
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