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The Mortgagor hereby covenants with the Mortgagee, that he is hndsteaaibl seined of said Lnd in fes
simple or such other estates tf any as is stated herein; that he has toll power and lawful right b ooavev the alone
as aforesaid; that the laced rs tree ~rom aU encumbraaoes accept as herein otherwu?e•recited; that said~iortgagor
will make such further aasursnoes to prove the aforesaid title to said land is said Mortgagee as may be reason-
ab~j rreeqquired, and that said Mortgagor does heroby fu11,T warrant the title to said land, and every part diereot,
aced will defend the same against the bwful calms of all perwas whomsoever.
Psovrtasn ALwait that if the Mortgagor shall pay unto the Mortgagee that certain pmmisaory note, of
which the following is a substantial copy, to wit:
i 26,000.00 Fort PiercQ~d~?.
March 7 ,19 80•
Fos V~?rvs Rscstvsu, the undersigned promise(s) to pay to VANTAGE MORTGAGE ASSOCIATES ,
INC., a Florida Corporation,
a corporation or6anised and existing under the
laws ai Florida . ~ ~ P~ciP~ sum ~ Twenty-six thousand and
00/100------=---------------------~~ (126,000.00 with interest from date at
the rate of Thirteen--------- per oentum (13 P~ annum oa the unpaid balance until paid.
The said principal and interest shall be payable at the office of Vantage Mortgage Associates,
Inc., 317 Minorca Avenue
is Coral Gables, Florida 33134 , or at such other plane as the holder may deeiganate in writing
delivered or mailed to the debtor, in monthly inataUmenta of Two htutdred eic~lty-seven & 82/l0~ollars
. 2 8 7.8 2 commencing on the first day of Apr i 1 , 19 8 0 , aced ooatinuing ~ ~
first dad of each month thereafter until this note is fully paid, except that, ii not sooner paid, the final payment
of principal and interest ahaU be due and payable on the first day of March 2010
Privilege is reserved to prepay at any time, without premium or fee. the entire indebtedness or any part
thereof not leas than the amount of one indallment, or one hundred dollars (=100.00), whkhever is lea. Prepayment in full
shall be credited on the date received. Partial prepayment, other than on an instalLnent due date, need not be aedited until
the nest following installment due date or thirty days after such prepayment, whichever is earlkr. •
If any deficiency in the pa t of any i~tallment under this note is not made good prior to the due date
of the aezt such installment, .the entire psnctpal sum and accrued interest shall at once become due and Fay-
able without notice at the option of the holder of this note. Failure to e:ereise Chia option shall not oomrtttute
a waiver of the right to ezercise the same in the event of any subsequent default. In the event of default in the
payment of this note, and if We same is collected by an attorney at law, the undersigned hereby agree() to
pay all costs of collection, including s reasonable attorney's fee.
This note is secured by mortgage of even date executed by the undersigned oa certain property d~+scribed
therein and represents money actually used for the acquisition of said property or the improvements thereon.
Presentment, protest, and notices are hereby waived.
_ s Calvin W . Lane
CALVIN W. LANE
/s/ D~lore~.P. Lane [~L]
DECOKES P. LANE
And shall duly, promptly, and fully perform, discharge, execute, effect, complete, sad comply with and abide
by each and ever}? the atipuLtiona, agreements, conditions, and covenants of said promissory note and of this
mortgage, then thus mortgage and the estate hereby created shall cease sad be null and void.
f The Mortgagor further covenants as follows:
1. That he will pay the indebtedness, as hereiabefore provided. Privilege is r+eaerved to prepay at nay time,
~ without premium or fee, the entire indebtedness or nay part thereof not leas than the amount of one installment, or
one hundred dollars (=100.00), whichever is less. Prepayment is fuIl :hall be credited on We date received. Partial
prepryment, other than on an installment due date, need not be credited until the next following installment due date or
thirty drys after such prepayment, whichever is earlier.
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 each month
until tl~e said note is fully psid, 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 nay, next due, plus the premiums that will aezt become due and Payable
on policies at fire sad other hasard inauraace covering the mortgaged property, plan taxes and aeaeasmeatb
Wert due on the mortgaged property (all as estimated by the Mortgagee and d which the Mortgagor is
notified) less all sums already paid therefor divided by the number of months to dapee before. one month
prior to the date when ouch ground• rents, premiums, taxes, sad assessments will become delinquent,
such sums to be held by Mortgageeiatavattopayaaidgroundrents,premiums,taus,andspecialaeeeasmenta.
(b) The aggt+egate of the amounts pa able pursuant to aubparaaraph (s) sad those ppss~gyaabbk on the note secured
her+tl, , ahiill be paid is a single Payment each month, to be applied to the fallowing items in the order
stated:
~ (I) ground r+wts, taus, aeeesameats, fire, sad other hasard insunusce premiums;
~ (II) interest on the note secured hereby; sad
(IIn amortiution of the principal of said note.
Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the Mort-
' gagor prior to the due date of the next such payment, coast~tute an event of default under this mortgage.
~ At 11Iortgagee'a option, Mortgagor will pay a "late charge" not exceeding four per centum .(4%) of any mstall-
meat when psid more Chan iteen (25) days after the due date thereof to cover the extra expense involved in
handling delinquent paymanta, but such "late charge" shalt not be payable out of the proceeds of any sale j=
made to satisfy the .indebtedness secured hereby, unless such proceeds ue sufficient to discharge the entire
~ indebtedness and aA proper costs and expenses secured thereby. ~
3. It the total of the parsnents made h~ the Mortgagor under (a) of paragraph 2 preceding shall exceed ~
the amount of pavmenta actually made by t se I4iortgagec, as trustee, for ground rents, taxes and assessments, ~
and insurance premiums, as the case nay be, such Pxeess slsall •be credited on subsequent payments to be made -v
by the Mortgagor for such items or, at Mortgagee's option, as trustee, shall,be refunded to Mortgagor. If, T
however, ouch montlily payments shall not 1!e suffcient to par aurh items when the same shall become due
and pa able, then the Mortgagor shall pay to thr Mortgagee, as trustee, any amount necessary to make up
~ the def ciency. Such payment shall be made within thirty (:ifl) da~-a after written notice from the Mortgagee
af~?inn !t•.a a.n n..r, w~ ,{.w .~-rni-..nr m1.:nf. ..~,ina .r.ae {tea e.~vs.. {mss .nail r~ aI ens •l.- 1/~_~~___ _L _tf ~