HomeMy WebLinkAbout0619 The Mortgagor hereby covenants with the Mortgagee, that he is u,dbt~ seisedltttis~d land in fee
simple or such other estates t1 any as is stated herein; that he has [all power and la W rigbt to ooovev the same
as aforesaid; that the load is free from all eneumbraaces except ss herein otherwise recited; that said~iortgagor
will make such further aesuranoee to prove tba aforesaid title to said land in said Mortgagee as may be reasoa-
ab~j rreeqquired, and that said Mortgagor does hereby iuUy_ warrant the title to said land, and every put thereot,
sad will defend the same against the bwful claims of all persons whomsoever.
PaOV1DED ALwetrs that if the Mortgagor shall pay unto the Mortgages that certain promiseors note, of
which the following is a substantial copy, to wit: -
i 33, 900.00 Fo t P' erce, Florida.
Yl~tt~i ~`lss 0
Foa Vnuvs Racsivsn, the underaigi?ed promise(s) to pay to VANTAGE MORTGAGE ASSOCIATES , INC . ,
A Florida Corporation,
a corporation organised and e~tietina under the
laws of Florida , or order, the principal sum of Thirty-three thousand nine
hundred and 00/100-----------------~ollare 33, 900.00 from date at
the rate of Thirteen----------- per oeatum E--13 P~ annum oa the unpaid balance until paid.
The said pr-:n~pal and iaterer-t shall be payable at the office of Vantage Mortgage Associates,
Inc., 317 Minorca Avenue
~ Coral Gables, Florida , or at such other place as the holder may designate is writing
delivered or mailed to the debtor, in monthly installments ot1'hree hw~dred seventy-five&27/100Dollars
(x 375.27----), commencing on the first day of May , 1~0 ,sad continuing on the
first day of each month thereafter until this note is fully paid, except that, if not sooner paid, the final payment
of principal and interest shall be due and payable on the first day of April ~ 2010•
Privilege is reserved to prepay at any time, without premium or fee. the entire in ebtednees or any part
thereof not leis than the amount of one installment, or one hundred dollaa (x100.00). whichever is leas. Prepayment in full
shall be credited oa the date received. Partial prepayment. other than on an installment due date. need not tx credited until
the next tollowin~ installment due date or thirty days after such prepayment, whichever is earlier.
If any deficiency in the p ent of any installment under ~tbia note is not made good prior to the due date
of the next such installment, the entire prtnc><psl sum and accrued interest shall at once become due and p~y-
able without notice at the option of the holder of this note. Failure to exercise this option shall not oonatttute
a waiver of the right to exercise the same in the event of any subsequent defaulf~ In the event of default in the
payment c?t this note, and it the same is collected by an attorney at law, the undersigned hereby agree(s) 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 on certain property described
therein and represents money actually used for the acquisition of said property or the improvements thereon. _
_ Presentment, protest, and noticA are hereby waived. _
/s Orville L. blintz
ORVILLE L. WINTZ a
~s1 Thelma I. blintz ~gg~L~
THELMA I. WINTZ
-
[sent.]
And shall duly, promptly, and fully perform, discharge, execute, effect, complete, and comply with and abide
by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this
mortgage, then this mortgage and the estate hereby created shall cease sad be null and void.
The Mortgagor further covenants as follows: , _
1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at say time,
I without premium or fee, the entire indebtedness or any part thereof not less than the amount of one installment, or
one hundred dollars (x100.00), whichever is leas. Prepayment in full shall be credited on the date received. Partial
prepayment, other than on an installment due date, need not be credited until the next following installment due date or
E thirty days after such prepayment, whichever is earlier.
j 2. In order more fully to protect the security= of this mortgage, the ~tortgegor, together with, and in
addition to, the monthly- payments under the terms of tl~e note secured 1?ereby, on the first day of each month
until the said note is fully .paid, will pay to the Mortgagee, as trustee, (under the terns of this trust as herein-
after stated) tlic following sums:
(a) A sum equal to the ground r+enta, if any, next due, plus the premiums that will next become due and payable
~ on policies of fire and other hasard insurance covering the mortgaged property, plus taxes and assessments
. next due on the mortgaged property (all as estimated by the Mortgagee. and of which the Mortgagor is
notified) leas all sums already paid therefor divided by the number of months to elapse before one month
prior to the date when such ground rents, premiums, taxes, and assessments will Lecome delinquent,
such some to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taxea,andtipeeislassessments.
(b) The aggregate of the amounts pa able pursuant to subparagraph (a) and those payable on the note >~cured i
hereby, shall be paid in a aing~e payment each month, to be applied to the following items in the order
stated
(I) ground rents, taxes, assessments, fire, and other hazard insurance premiums;
(II) interest on the note secured hereby; and
(III) amortisation 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, constitute an event of default under this mortgage.
At Mortgagee's option, Mortggagor will pay a "late charge" not exceeding four per centum (4°Jo) of any install-
` went when paid more than fifteen (15) days after the due date thereof to cover the extra expense involved in r
~ handling delinquent paymenu, but such "late charge" shall not be payable out of the proceeds of any sale c ^ _
made to satisfy the indebtedness secured hereby, wiles such proceeds are sufficient to discharge the entire
indebtedness and all proper costs and expenses secured thereby. - ~
3. If the total of the ps}'menu made h~- the 114ortgngor under (e) of paral:raph 2 preceding ahall.exeeed
the amount of payments actunllr mach h~• t ie ?liprtKaKec, as trustee, for Kround rents, taxes and assessments,
and insurance premiums, as thr case ma.- br, such excess shall ix' credited on subsequent payments to be made _
by the Mortgagor for such items or, nt LtortgngeP's option, a.4 trustee, shall be refunded to Mortgagor. If,
however, such montlJt payments shall not ix~ suffic•ient to pay such items when the same shall become due ~ t
~ and payable, then the ~lortgaRor shall pny to the VfortQagec , t}4; t~uatee j tl~y sinount necessary to make up r
the de~icienc}-. Such payment shall be oracle within thirty (:i0) days after written notice from tie Mortgagee ~ i
stating the amour_t of the deficiency, which notice may be given by mail. If at any time the Mortgagor shall