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Home My WebLink About0701 • ~~r - ~ The Mortgagor hereby covenants with the Mortgagee, that he is t eaa`b`1y~i said End is fee simple or such other estate; J any as is stated herein; that he has full powbi' ~d lawful right to ooavev the same as aforesaid; that the 11wd ~s free ~rom all eaeumbranoes except as herein otherwise recited; that saidlViostgagor will make such further aeauranoee to prove the aforesaid title to said land is said Mortgages as may be reaeon- ab~y rreeqquired, and that said Mortgagor does hereby fulll warran6 the title to said land, and every part thereof, sad will defend the same against Ws lawful claims of all persons whomsoever. _ PnOYIDSD ALNATa that if the Iaiortgagor shell pay Hato We Mortgages War certain promissory note, of which the following is a substantial copy, to wit: - i 86, 500.00 ~ - Port St. Lucie ~ Pfodda. - - September 21,19 79 - Fore Vwtvs Raesrvsn, the undersized promise(s) to pay to- SOUTHERN l+.+IORTGAC3E _ASSOCIATES, INC., authorized to do business in the State of Florida - , a oorporavon otg:nised sad eaoeting under the bws ot- •Atkansas _ _ . or order, the principal sum o~ighty-six thousand five hundred and 00/100----------------~d~ 86, 500.00 W ~ from date at ~ oeatum auavm on th~un baLnoe until the refs of Ten--- Per' ( 10 P~ - P~ P~• - The said principal and interest e3rall be payable at the oilioe of Southern Mortgage Associates, 1y99 SW 27th Avenue ~ - is Miami , Florida , or at such otbbr p1!~ as tbs llalder ropy deeigos m writing delivered or mailed to the .debtor, is monthly installments of S~:Ve>il ui~ fifty-rune & 47~10(~~ - 759.47 commencing on the first dry of November . 197y ,sad ocntinuing oa the first dry of each month thereafter until this note is fully paid, except that, if not sooner paid, the 5nal payment of princrpal end interest shall be due and payable on We first day of October 2009. Pri~i4ge is reserved to prepay at any time, without premium or fee. the entire indebtedness or any Part thereof act less than the amount of one installment, of oae hundred doWus (1100.00); w6ic6eva is less. hepsyment in full shall be credited on the date received. Partial prepayment, other than on au installment due date. need not be credited until the nezt following irrstallmeat due date of thirty days after such prepayment, whichever is earlier. _ _ If sqv deficiency in the payment of say in$talbnent under this note is not made good prior to the due date of We next such installment, the entire pnncrpal sum and accrued interest shall at once become due and pay- able without notice at the option of the hoolder of this note. Failure to exercise this option shall not oonstatute a waiver of~he right to exercise the same in the event of any subsequent default. -Ia the event of default in We payment of this note, and if the same is collected by an attorney at law, the naderaigned hereby agree(s) to pay all coals of collection, including a reasonable attorney's fee. This note is secured by mort,~aze of even date executed by the unden~igne-d on oeztain property described therein sad represents money seta y used for the acquisition of said property or the impmvemente lhe.~eon. Presentment, protest, and notice are hereby waived. - Ls/ Arthur C . Coulon - ARTHUR C . COULON m- ,/sj Sylly P . mouton ~ - _ SALLY P. COULON - [sllr?L] ''I And shall duly, promptly, and fully perform, discharge, execute, e8ect, complete, and comply with and abide by each and every the stipulations, agreements, conditions, sad covenants of said promissory note and of this mortgage, then this mortgage and the estate hereby created shall cesee and be null sad void. The Mortgagor furtheroovs'aants as follov+ra: - - l. That he-will pay the indebtedness; as hereinbefore provided:- IP`rivr'lege is reserved to Prepay at say time, without premium or fee, the entire indebtedness or any part thereof not less thaw -the amount of one installment, or one hundred dollars (~100.d0), 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 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, es trustee, (under the terms of this trust as herein- after stated) the following rotas: - ~ - ~ . (s) A sum equal to thn grotrnd rents, if say, nert due; phra the premiums that will next become due sad payable on policies of fire and other hasard insurance covering the mortgaged property, plus taxes and assessments -next due on the mortgaged property (all sa estimated by the Mortgagee and of which the Mortgagor is notified) less all sums already paid therefor divided by the number of months to elapse before one month prior to the date when such ground rents, Premiums, taxes, sad assessments wrll became delinquent, such soma to be hdd by Mortgageeintrusttopayaaidgroundreata,premiums,taus,aadapecislsasessmenta. (b) The aggregate ~ the amounts pa able pursuant to subparagraph (s) and those psysble an the note secured herby, shill be paid is s singe payment each month, to be applied to the following items in tie order eta m ground rents, taxes, aaseasmente, fire, sad other hasard insurance premiums; (II) interest on the note secured hereby; sad - (IIn amortisation of the principal of said note. Any deficiency rn the amount of such aggregate monthly payment shall, unless made good by the Iylort- gagor prior to the due date of the next such payment, constitute an event of default under this mortgage. - At Mortgagee's option, Mortggagor will pays "late charge" not exceeding four per centum (4°fo) of any install- ment when paid more than~fifteen (IS) days after the due date thereof to cover the extra expense involved in ~ handling delinquent payments, but such "late charge" shall not be payable out of the proceeds of any sale °~,o made to satisfy the r ebtedness secured hereby, unless such proceeds are sufficient to d>SChsrge the entire indebtedness and ell proper costs and expenses aecur+ed thereby. ~ 3. I[ the total of the pa~-rnents made b~~- the Mortgagor under (a) of psragrapl~ 2 preceding shall exceed the amount of payments actually made b~• tl1e Mor•tgaKee, as trustee, for ground rents, taxes and assessments, and insurance premiums, as the case may be, such excess shall be credited on subsequent payments W be made by the Mortgagor for such items or, at Mc+rtgagce's option, as trustee, shall be refunded. to Mortgagor. M,, ~ however, such mont}dy payments shall Hoe he sufficient to pay such items when the same shall become due and payable, then the Mortgagor shall pay to tl~e Mortgagee, ns trustee, any amount necessary to make rip the deficiency. Such payment shall be made within thirty (30) da~•s after written notice tram the Mortgagee ~ stating the amount of the deficiency, which notice may be•4iyetr by-mail. If at env time the Mert~~nr .h.lt