HomeMy WebLinkAbout2379 The Mortgagor hereby covenants with the Mortgagee, that he u mdeteaaibly seined of said land in fee
simple or such other estates >f aqy as is stated herein; that he has toll power and lawwfiul right to convey the same
v aforesaid; that the land >a tree from all encumbrances ezoept as herein otherwise recited; fiat eud~iortgagor
will make such further assuraaoes to prove the aforesaid title to said land in said Mortgagee as may be reasoa-
ab~y roq~ired, and that said Mortgagor does hereby fully warrant the title to said land, and every part thereof,
sad will defend the same against the Lwtul claims of au persons whomsoever.
Paovra>ra Ar.we~rs that ii the 141ortgagor shall pay unto the Mortgagee that certain promissory note, of
which the following is a substantial Dopy, to wit:
i 38,900.00 Port St . Lucie
August 31 ,1979 .
Foa V~rvs Receives, the undereigtied pranise(s) to pay to .
S1~OCI~I~CN, ~d~iATiL'Y, L1AVIl~1 & OQ~ANY
, a corporation organised sad e~ under the
laws at the State of Florida . o: order, the principal sum of 1IiIRLY-EIQfi~ ~ NIl~
H[r1D[tED & NO/100------------------------
Dollars (i 38,900.00 with interest fe+om date at
the rate of tell per oeatum (10.0%) pce annum on the unpaid baLnee until paid.
The acid principal and interest shall be payable at the office of g~~, y~~;-y, & OQ~ANY,
100 West Bay Street
in Jadcsotxville, Florida322O2 , or at such other place as the holder may deaigriate in writing
delivered or mailed to the debtor, in monthly installments of 'lilies Itutit~red Forty-Qne & 54/100Dollars
341.54 commencing on ~ Srst day of October , 19 79 ,and continuing oa the
first day of each month thereafter until this note m fully paid, a:Dept that, if not sooner paid, the finalpaymeat
of principal and interest shall be due and payable on the Bret day of September , 2QQ9 .
Privilege is reserved to prepay at any time, without premium or fee. the entire indebtedness or any part
thereof not less than the amount of one installment, or one hundred dollars (;100.00), whichever is leas. hepaymeat !n full
atiaU be credited on the date received. Partial prepaj?nient, other than oa as iostalimeet due date, need not tx credited until
the next fopowia~ iadailmeat due date or thirty days after such ptepi~yauent, whichever k earlier.
It any deficiency is the pa nt of any iffitalhnent under this note is not made good prior to the due date
of the resat such installment, the entire principal sum and accrued interest shall at once become due sad Fly-
able without notice at the option of the holder of this note. Failure to eaerrise this option shall sot oo~tatute
a waiver of the right to exercise the same in the event of any subsequent default. Ia the event of default in the
payment of this note, and ii the same is collected by an attorney at Lw, the undersigned hereby agree(s) to
pay all costs of collection, including a reasonable attorney's fee.
This note is secured by mortgage of even date executed by the undersigned on certain property described
therein and represents money seta y used for the acquisition of said property or the improvements the~reoa.
Presentment, protest, sad notice are hereby waived.
. /s/ 1.1tANK B. ImBIN9t~1
s / OQJQIIT.A C . ROBINSCN
And shall duly, promptly, and fully perform, discharge, execute, effect, complete, sad comply with sad abide
by each and ever}? the stipulations, agreements, oonditiona, sad covenants of said promissory note and of thin
~ mortgage, then this mortgage and the estate hereby created shall cease sad be null sad void.
The Mortgagor further ooveaaats as follows:
1. That he will pay the indebtedness, as herpinbefore provided. Privilege is reserved to prepay at any time,
without premium or fee, the entire indebtedness or any part thereof not less than flu' amount of one instaWneat, or
one hundred dollars (x100.00), 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 -neat following installment due date or
thirty days after such prepaymait, whichever is earlier.
Z. In order more fully to protect the security of this mortgage, the Mortgagor, together with,~and in
addition to, the monthly payments under the terms of the note secured hereby, on the first day of each month
until the said note is fully paid, will pay to the Mortgagee, as trustee, (under the terms of this trust as herein-
after stated) the following sums:
(a) A sum equal to the ground netts, if any, next due, plus the premiums that will next become due sad payable
on policies of fire sad other hasard insurance covering the mortgaged property, plus taxes and assessments
next due on the mortgaged property (all sa estimated by the Mortgagee sad of which the Mortgagor is
notified) less all some ahead paid there#or divided by the number of months to ela before one month
prior to the date when su~ ground rents, premiums, taxes, and amts will become delinquent,
such soma to be held by Mortgageeintnuittopayssidgroundnmts,premiums,Leures,sndspecialasseesments.
(b) The aggr+e$ate of the amounta•pa le pursuant to subparagraph (a) and those payable on the note secured
hereby, shall be paid in a payment each month, to be applied to the Blowing items is the order
stat~edd
l m ground rents, rases, aseesementa, fire, and other hasard insurance premiums;
(II) interest on the note secured hereby; sad
(IIn amortisation of the principal of said note.
( Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the Mort-
~ gagor prior to the due date of the next such payment, constitute sa event of default under this morrttggaagge. w ~
' At Mortgagee's option, Mortgagor will pay a "late charge" not exceeding four per centum (4%) of. any instal-
merit when paid more than fifteen (15) days after the due date thereof to cover the extra expense involved in ~
handling delinquent psymenu, but such "late charge" shall not be payable out of the proceeds of any sale ~y
made to satisfy the indebtedness secured hereby, uriless such proceeds are sufficient to discharge the entire ~
indebtedness and all proper costs and expenses secured thereby.
3. If the total of the payments made b,,• the Mortgagor under (s) of paragraph 2 preceding shall exceed ~
the amount of payments actually made b.' rite MortgaKec, as trustee, for ground rents, taxes and assessments, n+
r and insurance premiums, as the case may be, such excess slial be credited on subsequent payments to be made
by the Mortgagor for such itergs or, at Mortgagee's option, as trustee, shall be refunded to Mortgagor. If,
t however, such monthdy payments shall not Im sufficient to pay such items when the same shall become due
and payable, then rife Mortgagor shall pay to rife Mortgagee, as trustee, any amount necessary to make up ~i
the deficiency. Such payment shall be made within thirty (:30) days after written notice from the Mortgagee