HomeMy WebLinkAbout0952 ~o ~iAUe And to ~iotd the same, flNp•Iher wilh the leneml•nls, heretliluments and uppurte
/Ialll'eS tlleret0 I)t•IU/I(~Illg,, a/lll Ille rPlltt, ISS111•S 111111 p?Ojltf tIIP?eoJ, IIntO tIIP morlgayee, in Jee simple.
find the mortgagor t'orenanls u•illl the morfflASlee Ihaf the morlgagur is indeJeasihly seize/1 0~ said
land in Jea simple; that the mortgagor'has good right and lau~jul authority to conl~ey said tun/{ as ujo?e~
said; that the murlryagor (rill make such further assurances to perjecl the Jee simple Lille to said land in the
morfyagee as may reasonably he reyuirtrll: tha! the mortgagor hereby fully 'war~'ant?:4~~ bile to said land
and will defend the same against the lalrjul /claims of all persons whomsoever: ari21<' Ihat said land is j?ee
nd clear aj t! en Ilnlhrances except that certain first mortgage due First
Federal S~&L Assoc. of Fort Pierce, Florida, as recorded in O.R,Book
#200 at page 1232 of the public records of St. Lucie County, Florid .
PROVIDED ALWAYS, that if said mortgagors shall pay unto said mort-
gagees the certain promissory note hereinafter
substantially copied or identii'ied, to-wit;
~ L
:3,600.00+++ No 748
February 25, 80.
- Fort Pierce, Horida 19
Harrla tiOr~lBtiY'liOtSO~wG01'«'pOr8tri011us, promise to pay without .defalcation to the order of .
at the office of the payee
herein in 6~rt6~i~rc~~lo?ida or at soda other place as the payee hereinls~.i~ designate in writing, the
sum oft -with interest from date at the rate of % per annum, payable
in monthly installments as follows, to-wit:
64.87 10th April 80
on the day of 19 and a like sum
on the corresponding day of each like succeeding month thereafter until p81d ~ t'Ull
In the event any amounts currently due and/or past due under the terms of this note are not paid
by the 25th day of the month, a late penalty. of 5,0% of the combined amounts- currently due and/or
past due, will be added to and collected with whatever amounts are due for the month in question. If
currently due and/or past due payments or parts thereof under the terms of this note remain unpaid
at the end of any month, then said unpaid amount will be carried forward and added to the amounts
'I coming due under the terms of this note for subsequent months for the purpose of calculating subsequent
late penalties. Amounts due under the terms of this note are understood to be but not limited to.
(1) Regularly amortized interest and princppal payments..
(2) City and/or county taxes when paid by the payee herein.
(3) Insurance premiums when paid by the payee herein.
(4) Senior mortgage payments when paid by the payee herein.
Street, sewer and water liens when paid by the payee herein.
€ach installment first shall be applied in the payment of the interest and then on the unpaid bal-
ance of the principal sum. If default is made in the payment of any installment when due, then at the
option of the holder, and without any other not'sce, aU the remaining instaliments shat! be due and payable a!
once. Privilege is given to pay two or more installments at any installment maturity date, but this shall
not extend the time of maturity of any subsequent installment. Neither forbearance, nor acceptance by
the holder hereof after any default in any payment hereon, shall be deemed extension.
Each maker, surety and endorser hereof, jointly and severally, waives demand, presentment,
protest and notice of protest for nonpayment, and further agrees to any extension of time of payment,
either before or after maturity, without notice to any of us; and to pay all costs of collection, including a
reasonable attorney`s fee in the event of any default hereunder.
~ WITNESS THE HANDS AND SEAL OF EACH PARTY. /s/ Ralph H. Patterson Sr.
/s/ Lola B. Patterson
3
(SEAL)
• (SEAL) -
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(SEAL)
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