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The Mortgagor hereby ooveaaota with the Morigagee~ that he is indefeasiti~ seined oI aid lend in fes
omple or such other eatate~ tf any~oadis stated herein; that he hsa f all power and la ul right to coovev the anme
ss oresaid; that the hwd >a free mall encumbrances except as herein otherwise recited; that said~Iortgagor
will make such further assurances to prove the aforesaid tide to said land is said Mortgagee as may be reaeo~
ab required, sad that said Mortgagor does hereby i warrant the tills to said Lad, and sveq part thereof,
an will defend the same against the lawful claims oi~ persons whomsoever.
PROVIDED ALwAYa that it the Ilfoctgagor shall pay unto the Mortgagee that certain promissory note, of
which the following is a substantial cePJ, to wit:
= 46, 000.00 Fort Pierce , ~otida.
February 28 ,19 80. ~
. ~
Fox Vaius Rscsivsu, tbs undersigned promise(s) to pay to ~
- ~
COUNTRYWIDE FUNDING CORPORATION I
a oorparadon organised and eaoistio6 under the '
lam ~ the STATE OF NEW YORK ~ or order, ~ ~ppv sum ~ Forty Six Thousand and no/ 100
- - 46, 000.00 with iater+eet lrom date at
the rate of Ztiwelve per oeatum ( 12 Per annum oa the unpaid balance until paid.
The acid principal and interest shall be payable ~ the olI'ioe of Countrywide Funding Corporation
3440 Wilshire Blvd.,
in Los Angeles, California 90010 , or at such other place as the holder ms?y desig:sate in
delivered or mailed b the debtor, is monthly installments of Four Hundred Seventy-Three 6 34/
473.34 eomaueacing on the fast flay of April , 1980 ,and oontinuiag oa the
fiiat day of each month thereafter until this note is fully paid, except that, it nots~ paid, the final payment .
of prindpal and interest shall be due and payable on the first day of March, 101
Privilege is reserved to Prepay at any time, without premium or fee, the entire indebtedness or any Part
thereof not leaf than the amount of one iastapmast, or one handfed dollars (=100.00), whichever is less. prepayment in full
shall be credited on-the date received. partial prepayment, other than oa an iostaUment due date, aced not be credited uatU
the nett tollowitrg ladallmeat due date or thirty days after such preps~yment, whichever is cattier.
If any deficiency in the payment of any installment under this note is not made good prior to the due date
of the nest such inatsllment, a entire principal sum and accrued interest shall at once become due sad pay-
able without notice at the option of the holder of this note. Failure to exercise this option shall not oonstrtute
a waiver of the right to exercise the same is tha event of any subsequent default. Ia the sweat of default in the
payment of this 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 i$ 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 improvemen0 thereon.
Presentment, pmtest, wd notice are hereby waived.
/s/ Frank A. Ruda, Jr. [~L]
/s/ Susan L. Ruda ~~L~
SUSAN L. RUDA
[s8r?W
And shall dui, promptly, and fully perform, discharge, executer effect, complete, and comply with and abide
'Ky each and ever)? the stipulations, agreements, eoad'iti and coveaaats'of said promissory note sad of thin
mortgage then thus mortgage and the estate hereby crested cease find be null sad void.
The ~ortgagor further coveasata as follows:
1. That he will pay the indebtedness, as hereinbeton provided. Priviiettesa reserved to prepay at as time
without premium or fee, the satin indebtedness or aa~? part thereof not less than the amount d one installment, or
one hundred dollars (=100.00), whichevei is Tess. Prepayment in full shaq be credited on ttse date received. Partial
prepryment, other than on an installment due date need not be credited until Ose next following installment due date or
thirty drys after such Prepayment, whichever is earli~i.
Z. 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 eac~s month
until tlse 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:
(a) A sum equal to the ground rents, if any, next due, plus the pr~emiuma that will nest become due and payable
on policies of Sic sad other hasard insurance covering the mortgaged property, Plus taxes and asseasznenta
next due oa the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is
noti5ed) less all Bums alrea+ilr paid therefor divided by the number of months to lapse before one month
prior to the date whdn each gr+owid rests, Premiums, taxes, and aseessmenta will become delinquent, m
such sums to be held by Mortgageeintruattopayeaidgroundreats,premiums,ta~res,andspecialasseasmeata. ~~re
(b) The aggregate of the amounts pa le pursuant to aubparagrsph (a) and thox paq~~ on the note secured
hereby, shaII be paid in a payment each month, to be applied to the fallowing items in the order
(n ground r+ente, toes, assessanenta,, fin, sad other hasard insurance pnmiuma; e~°
(II) inter+eat on the cote secured hereby; sad
(III) amortisation of the prinapal of said note.
Anp deficiency in the amount of such aggregate monthly payment shall, unless made good by the Mort-
gagon prior to the due date of the next such payment, conststute an event of default under this mortgage.
At Mortgagee's option, Mortggagor will pay a "late charge" not exceeding four per ceatum (4%) of any ins_ tall-
went when paid more than Sfteen (l5) days after the due date thereof to cover the extra expense involved in
handling delinquent pa menu, but such "late charge" shall ~t be payable out of the proceeds of any sale
made to satisly the indebtedness secured hereby, unless such proceeds are sufficient to discharge the entire
indebtedness and aA proper costs and expenses aecur+ed thereby. .
3. If the total of the pa~-iiienta made b? the Mortgagor under (s) of paragraph 2 preceding shall exceed
the amount o! payments actually niarlP by t ie Mortgages, as trustee, for ground rents, taxes and asseasmenta, ~
b d insurance premiwiis, as the case may be, such excess shall be credited on subsequent payments to be made
y the Mortgagor for such iteriis or, at Mortgagee's option, as trustee, shall be~ refunded-to Mortgagor, If,
however, such sssontlily paynents shall not be sufficient to pa~• such iteiiis when the same shall be,~ome due
and pa •able, then. the Mortgagor shall pay to t)sc MortgaRec,.as trustee, any amount, necessary Lo make rep
the de~ciency. Such payment "shall be made within thine (:i0) da}•s after written notice from the Mortgagee
statuig the amount of the deficiency, which notice may be given by mail; If at say time the Mortgagor shall