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Home My WebLink About0309 ..Ra. The Mortgagor hereby covenants witlt the M that he is is sais~d rend in fee ~QQle or such other eatatet It any ss is atatod herein; shoat h has full powrrd laiiriW.rigLs td c~~v the same rs aiorosiid; t~iat the, lsIld Is tree ~m su eacuatbrattsxs a:oept as herein otl2era?ise reetted; that eaid~iort;agor will make sum further assurances to prove the aforesaid title to said land in said :Mortgagee as tray be reaao~. al+ required, gad that said Mortgagor does hereby fully wafrsnt the title to said land, and every part thereof, will detead the sam• sgaiaat flee lawful elanaa cif au persona whotrsosver. PsoYIDYD ALNAYa that if the Mortgagor shall py unto tbs MOrt;sgee that certain promissory note, of which the following is a aubatantial copy. to wiL: = 90,000.Ofl Port St. -Lucie ,.Florida. January 18th ~ • 19 SO• Fate Vi?I.as itacslvtm, tbs undersigned protnise(a) to P~ ~ - - Margaretten & Colapany, inc. , - , ~ corporation a'6a~aised and etostina under the laws o[ New Jersey ~ , or v. ~~r, the principal sum of NINETY TA4USAND AND NO/100_-------....-----~--------..-_ t~OllarB (i 90, 000.0(} with interest fl+Om date at the rate ofglevertAndOnaHalf -per c~tum 11.5t~o) P~ on the unpaid balance until paid. The acid principal and intet+eet shall. be payable at the oboe sif Margaretten & Company, Inc. , P:O. Box 11606 _ . in Newark, New Jersey, 07101 - , or at sash other plaer: as the hdder nosy designate in writing delivered or mailed to the debtor, in monthly instailmeata otEightHundredNinetyOne&90/lOQ3ollars 891.90 cannm~ina ~ the first ~?y ~ lylareh . 19 80, end continuing sz*? the first dt?~ of each month theireatter until this note is fully paid, e:oepti that, if pot sooner paid, the final payment of prinetpal and interest shall be due gad payable on the first day of _ February,. 201Q. privilege is reserved to prepay at gay time, without premium or fee. the entire indebtedness or any part thereof not las titan the amount of one isstillsaeat, of one hundred doWrs (=100•~).'~ b kn. irepayment b full :haD be credited on the date resetred. lartial Prep~ymettt, other than oa ao Ltstapmeat due date, treed not be credited until the nett fsr8owin~ installment due date or thirty days otter such prepayment, witiche!er is earlier. - If gay deficiency in the payment of any installment under this note is not made good prior to the due dots of the nest such tastallmeat,ti~e en;:re-principal sum and accrued interest shall at once become due and.)?sy- ablewithoutnotice at the optwn of the holder of this note. Failure to eereise this~optwn s~Rll not oonstttute a waiver of the right to exercise the same in the event of any_subsjquentd~fault. Ia the event of default in the payment of this note, and ii the same is col:eeted by as attorney at Lw, the undersigned hereby agree(s) to pay all costs of collection. including a reasonable attorngy's tee. This mte is seeurud by mortgage of even date executed by the undersigned on eert~ain property described thet+eia and represents money actually used for the acquisition of said property or the inipmvements thereon. presentment, protest. gad notice are hereby waived. ~ - / s/ DAVID BR~ICE -WIISHiN L~?Z.~ David-Bruce Wilsh~.n Lam] - ~ [mil _ tom] ~ And shaft duly, Promptly, and fully Perform, discharge, execute, effect, complete, gad comply with and abide by each and every the aLpulations, aareemeats, ooaditions,-and oovenante of said promissory note gad of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void. - The Mortgagor further oovenaats as follosra: 1. That he will ppaay the indebtedness, as hereinoefon Provided. Priviieae is reserved to Prepay st any time, without premium or f see, the entire indebtedness or gay part therEOt not less than the amount of one installment, ~ one hundred dollars (;1lW.tlt)), vrbichever i3 less. Prepayment in full shall be aedited on the date received. Partial prepryment, other than on an irrstallm~t due date, need riot De credited until the nract fdlovrin~ instalment due date or thirty days after such prepayment, vrhicbever is earlier. 2. In order more fully to protect the security of this mortgage, the viortga, r, together wit,, and in additio*i to; the monthly pa3-iiienta under the terms of the note secured hereby, on the first dai* of each-month until the said_nofe..is [vYly paid, will psi w the Mortgagee, as trustee, (under the terms of this trust as herein- after stated) the'toltsiwing awns: (a) A sum equal to the ground tenth, if any, ntut-due, phis the premiums that wilt Wert become due and Payable on policies of fire and other hasard insurance eoveiuia the mortgaged ptoperty;,plua taxes and assessments next due on the mortgaged property (ail as estimated by the Mortgagee and of which the Mortgagor is notified) less all some already paid therefor divided by the number of months to before one month prior to the date whey su around rents, premiums, taus, end assessments teoome clelinqur+t, . sash sums to be held by Mortgageeintevattopayeaidgroun.lrertts,pr+Emiums,taxes,andspecialasses_smeats. (b) The ate sif the amounts Pa able ptttsttsat to subpsra~raph (a) and those ppaa~yyable as the note asxttred ~ hereby, shall be paid is s payment eadi month, to be-applied to the f~llowina~items in the ordtx (I) ll~d ~ ~ gad other hasard insurance premiums; (II) interest on the note secured herby; ard~ " ~ (III) amortisation of the principal d said rota. - ; ~ Any deficiency in the amount of such a~regate monthly payment shill, unless made good by the Mort- j gesgor prpr to the due date of the next such payment, constitute sn event of deta~lt under this mortgage. t At Mortgagee's option, Mo tgagor will pay a "late charge" nc,t exceeding four per centum (4°jo} of any install- `A went when p~ud more than fifteen (lfi) days after the due date thereof to cover the extra expense involved in ~'saa handling delinquent paylrtents, but such "fate charge" shall not-be payable out of the proceeds of any sale ~ ~ made to satisfy tl:e innddebtedness securest hereby, unless such proceeds are snfficienl to discharge the entire ~ indebtedness gad all pr~;per costs gad expenses secured thereby. FP 3. If thz tots! of the payments rnasit' b}• the Mortgagor under is) of paragraph 2 preceding shall exceed ~ ` -the iiniount of pavinents aciu„l1y made b_v the SiortgaKer, as trusCeF, for ground rents, taxes and assessments, in end insurance prrniiuiiis, as the case may be, such exsxss Sliall be credited or. subss•quent payments to be made by the Mortgagor for such items or, nt Morse's option, as trustee, shall be refunded to. Naortgagor. If, ~ hovrever, ouch ntontlJy Payments shall not he sutfirient to pa}- such items when the same shell become due and pa •abte, then the Mortgagor shall pad to the Mortgagee, as trustee, ¢ny asnount.necessary to make up the deficiency. Such ps~-riient wall be made within thirty (:i9) dsrs after written notice tmm t}ie Mortgagee is etatintt tl;e amount. of the deficiency, which notice may be given by mail. It st any tame the Mor+.~~or shall