HomeMy WebLinkAbout2072 The Mortgagor hereby, covenants with the Mortgageeti that he is indet seised of qid Viand in ies
simpple or such other estates ti any ae ie stated herein; that he has Lull power and la ul raght to ooavev the same
as aforesaid; that the land >8 eyes from all encumbrances except as herein otherwise recited; that eaidlulortgagor
will make such further aasuranoes to provo the aforesaid title to said land in said Mortgagee as may be reeaso~
ably required, and that said Mortgagor does herby fullf warrant the title to said land, and every part thereof,
and wilt defend the same against the laariul claims of au parsons whomsoever.
PsovlDSm ALNATa that ii the Mortgagor shall pay unto the Mortgagees that certain promissory note, of
which the Lollowiag is a substantial copy, to wit:
= 46,000.00 Fort Pierce ,Florida.
February 28 , lfi 80.
Foa Valve Rsostvso, the undersigned promise(s) to pay to
COUNTRYWIDE FUNDING CORPORATION
a corporation organised and eao~eting Hader the
~ the STATE OF NEW YORK ~ or order, the principal sum of Forty Six Thousand and no/ 100
46, 000.00 with interest from date at
the rate of Twelve per oeatum ( 12 Per annum an the unpaid balance until paid.
The said principal and interest shall be payable at the Vice of Countrywide Drunding Corporation '
3440 Wilshire Blvd.,
in .Los Angeles, California 90010 , or at such other place ss the hddesr may designate in
delivered or mailed to the debtor, in monthly installments of Four Hundred Seventy-Three 5 34/
(i 473.34 commencing oa the first day of April , 19 80 ,and oontinuim~g oa the
first day of each month theereafter until this note is fully paid, except that, ii not soo paid, t11e final payment
of principal and interest shall be due and payable on the first day of March, 201 ~ ,
privilege is reserved to prepay at any time, without premium or fee. the entire indebtedness or any part
thereof not leis thaw the amount of one imsti~lmeat, or one hundred dollars (=100.00), whichever is lens. Irepsymeat in full
shall be credited om the date received. PartW prepayment, other than oa am installment due date, need not be credited until
the aoort fdlowimg installment due date or thirty days attex such prepe~yment, whichever is earlier.
Ii any deficiency in the payment of any installment under this note is not made good prior to the due date
of the next such installment, the entire pprincipal Burin and accrued interest shall at once become due and ~sy-
able without notice at the option of the holder of this note. Failure to e:en;ise this option shall not constitute
a waiveer of the right to ezemiae the same in the event of any subsequent dedsult~ In the event of default in the
payment of this note, sad if the same is collected by.aa attorney at Lw, tLe undersigned hereby agree(s) to
pay all costa of collection, including a reasonable attorney's fee.
This note is secured by mortgage of even date executed by the undersigned on eert~ain property described
therein and represents money actually used for the acquisition of said property or the improvements thereon.
Presentment, protest, and notice are hereby waived.
/s/ Frank A. Ruda, Jr. ~~L~
/s/ Susan L. Ruda ~~L~
-SUSAN L. RUDA
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And shall duly, romPUY, and fully perform, discharge, execute, eSect, complete, and comply with and abide
~Efy each and ever~? the stipulations, agc+eements, e~diti and eovensata of said promissory note and of this
mortgage, then thra mortgage and the estate hereby created Deese l?nd be null and void.
The )Mortgagor further ooveasats as follows: ~ .
1. That he will pay the indebtedness, as her+einbefore provided. Privilege is reserved to repay at say time,
i without ni+emium or fee, the entire indebtedness or an)? pert thereof not less than the amount of one mstallmeat, or
one hundred dollars (~l0U.b0), whichever is less. Prepayment in full shall be credited on the date received. Partial
prepayment, other than on ao installment due date, need not be credited until the next tBUowing installment due date or
thirty days after such Prepayment, whichever is earli~'r. -
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 eacfi 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 awns:
(s) A sum equal to the ground rests, if any, next due, plus the premiums that will next become due sad payable
on policies of fire and other hasard insurance aoverurg the mortgaged property, Plus taxes and assessments
next due on the mortgaged property (all as estimated by the Mortgagee and ~ which the Mortgagor is
notified) less all sums already paid tberedor divided by the number of months to before one month
prior to the date when such ground rents, premiums, taxes, and assessments will become delinquent,
such sums to be hdd by Mortgageeintruattopayesidgroundrents,premiums,ta:es,aadspecialsssessrnenta.
(b) The aggregate of the amounts pa able pursuant to subparagraph (a) and those payable on the note secured
hereby, ehe~ll be paid in a ~e PaYmeat each month, to be apphed to the falowing items is the order
~ stated:
(n ground rents, taxes„ aseeasme~ts, fire, sad other hasard insurance premiums;
(In intexsat an the: note secured herby; sad
~ - (IIn amortisation of the principal of acid note.
~ Any.deficiency in the amount of such aggregste monthly payment shall, unless made good by the Mortr
gagor 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 (4oJo) of any install-
went when paid more than fifteen (15) days after the due date thereof to cover the extra expense involved in
handling delinquent psyymerits, but such "late charge" shall not be payable out of the proceeds of any sale
made to sstrsfy the iadebt~dness secured hereby, unless such proceeds are suSicient to discharge the satire
indebtedness and all proper costs end expenses secured thereby.
3. If the total of the payments made b,,• the Mortgagor under (a) of paragrapl? 2 preceding shell exceed
the amount of payments actually made by tl'e Mortgagee, ss trustee, for ground rents, taxes and assessments, ~
and insurance premiums, as the case may be, such excess alrall be credited on subsequent payments to be made ~ .
by the Mortgagor for such items or, at Mortgagee's option, as trustee, shall be refunded to Mortgagor. It,
howevcT, such »rontldy payments aleall not be suffi~~ient to pay such items when the same tthaU become due
and pa •sble, then the Mortgagor shall pay to the Mortgagee, ns trustee, any amount necessary to make rip
the de~ciency. Such payment shall be made within thirty (:30) da~•s after written notice from the Mortgagee
stating the amount of the deficiency, which notice rosy be given by mail. If at say time the Mortgagor shall