HomeMy WebLinkAbout0357 The Mortgagor hereby covenants with the Mortgagee, that he is indefFiuzi_blTy seized Qf said land in fee
simple or such other estate, J any as is stated herein; that he has full power and Iraivful right to coovev the slime
a$ aforesaid; that the land is free from all encumbrances except as herein otherwise recited; that said~iortgagor
will make such further assurances to provo the aforesaid title to said land in said Mortgagee as may be reason-
ably required, and that said Mortgagor does hereby fullyy warrant the title to said land, and every part thereof,
and will defend the same against the lawful claims of all persons whomsoever.
Pttovtusn ALwatra that if the >\fortgagor shall pay unto the Mortgagee that certain promissory note, of
which the following is a substantial copy, to wit:
i 43,000.00 Fort Piercf~ Florida.
November 16 ,1979 .
Fox Vwtus xscscvso, the undersigned promiae(8) to pay to VANTAGE MORTGAGE ASSOCIATES, I NC . ,
a Florida corporation
, a corporation organised and e~osting under the
laws of F1 on da , or order, the principal sum of Forty-three thousand and 00/100
43,000.00 with interest from date at
t~ rite of Eleven and one-half per oentum (11~ qo) per annum on the unpaid balance until paid.
The said principal and interest shall be payable at the office of Vantage Mortgage Associates, Inc.,
317 Minorca Avenue
in Coral Gdbl eS, Fl on dd , or at such other place as the holder may designate in writing
delivered os mailed to the debtor, in monthly installments ofFOUr hundred twenty-six and 13/10
426.13 commencing on the first. day of January , 19 79 ,and continuing on the
first day of each month thereafter until this note is fully paid, except that, if not sooner paid, the final payment
of principal and interest shall be due and payable on the first day of December ~ 2009•
Privilege is reserved to prepay at any time, without premium or fee. the entire indebtedness or any part
inereoi not less Than ins amount oi` one insiaumeni, or one hunared aoiiars (ilirii.iwj, wnicnevet is less. irepayment in full
shall be credited on the date received. Partial prepayment, other than on an instaUtaent due date, need not be credited until
the ne:t following installment due date or thirty days alter such prepayment, whichever is earlier.
•If any deficiency in the pa ent of any installment under this note is not made good prior to the due date
of the nest such installment, the entire principal sum and accrued interest shall at once become due and ~sy-
able without notice at the option of the holder of this note. Failure to exercise this option shall not oonatitute
a waiver of the right to e:erctse the same in the event of any subsequent default. In the event of default in the
payment of Chia note, and if the same is collected by an attorney at law, 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 actually used for the acquisition of said property or the improvements thereon.
Preeentment, protest, and notices are hereby waived.
. : LS1..91bgr~Li~kiirs
ALBERT VICKERS-
Ls/ Anna M. Vickers ~5,~,~
ANNA M. VICKERS
[~Ll
And shall duly, promptly, and fully perform, d'u;charge, execute, effect, complete, and comply with and abide
by each and every the stipulations, agreements, conditions, and covenants of said promissory note'and of this
mortgage, then this mortgage and the estate hereby crested shall cease and be null and void.
~ The Mortgagor further covenants as follows:
1. That he will pay Lhe~ indebtedness, as hereinbefore provided. 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 (5100.00), 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 next [ollowing installment due date or
thirty days after such prepayment, whichever is earlier.
2. In order more full~• to protect the securit}• of this mortgage, the Mortgagor, together with, and in
addition to, the rnonthl~• payments under the trans of the note secured hereby, on the first da~• of each month
$ until the said note is fully paid, will pny to the Mortgagee, as trustee, (under the terms of this trust as herein-
3 after stated) the following su~~u;: -
(s) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable
on policies of fire and other hasard insurance covering the mortgaged property, plus taxes and assessments .
next due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is
notified) leas all sums already pard therefor divided by the number of months to elapse before one month
prior to the date when such ground rents, premiums, taxes, and assessments will become delinquent,
3 such sums to be held by Mortgageeintrusttopaysaidgl•oundrents,premiums,taxea,andspecialassessments.
(b) The aggregate of the amounts pa able pursuant to subparagraph (a) and those payable on the note secured
r hereby, shall be paid in a single payment each month, to be applied to the following items in the order
sta
(I) ground rents, taxes, assessments, fire, and other hasard insurance premiums; •
(II) interest on the note secured hereby; and
(III) amortisation of the principal of said note.
Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the Mores
s gsgor prior to the due date of the next such payment, constitute an event of default under this mortgage.
At Mortgagee's option, Mortgagor will pay a "late charge" not exceeding four per centum (~°Jo) of any install-
merit when paid more than fifteen (15) days after the due date thereof to cover the extra expense involved in w
~ handling delinquent pay menu, but such "late charge" shall not be payable out of the proceeds of any sale
made to satisfy the tndebtedness secured hereby, unless 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 R'Iorlgngor under (a) of pnragraph 2 preceding shall exceed ~
the amount of pa~-ments actunll~- made h.• fife ltortKaKee, ss trustee, for ground rents, taxes and assessments, -o
and insurance premiwns, as the ease maybe, such excess shall he credited on subsequent payments to be made c
by the Mort agor for surh items or, nt~Mortgngee's option, sc trustee, shall he refunded to Mortgagor. If,
however, such monthy pa~•ments shrill not be sufficient to pa.• surh items when the same shall become due
and payable, then the~Lfortgagor shall pn~- to tl?e Mortgagee, ns trustee, an~• amount. necessary to make up ~
the def~icienc}•. Such pa~•ment shrill be made within t6irt}• (a0) da~•s after written notice from the Mortgagee