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The Mortgagor hereby covenants with the Mortgagee, that he ~~fici~T~esibly`~>kedtof said land in fee
simple or such other estates J say as is stated herein; that he has f all power and lawful right to coavev the same
as aforesaid; that the land >s free ~rom all encumbrances except ss herein otherwise recited; that saidl?~tortgagor
will make such further assurances to prove the aforesaid tills to said land in said Mortgagee ss may be resson-
tib1~ required, and that acid Mortgagor does hereby fully warrant the tilde to said land, and every part thereof,
and will defend the same against the lawful ciaima of all persons whomsoever.
Preovtarw ALNATa that if the Mortgagor shall pay unto the Mortgages that certain promissory note, of
which the following is a substantial eopj, b wit:
= 42, 200.00 Fort Pierce ,Florida.
June 6 ,1980• '
Foa Vnivs Rscstvto, the undersigned promise(s) to pay to VANTAGE MORTGAGE ASSOCIATES,
INC., a Florida Corporation
a corporation organised and ezuding under the
laws of Florida , or order, the principal sum of Forty-two thousand two hun-
dred and 00/100-------------------4aoilars (142, 200.00--~ with interest from date at
the rated Eleven and the-half per oentum (11.5%) P~ annum on the unpaid balance until paid.
The said principal sad interest BhaU be payable at the office of Vantage Mortgage Associates, Inc. ,
317 Minorca Avenue
in Coral Gables , Florida , or at such other place as the holder may designate in writing
delivered or mailed to -the debtor, in monthly inataUmenta of Four hLtrtidred eighteen & 20/100--~ollsra
418.20----), commencing on the first day of July , 1980 ,and 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 June 2010•
Privilege is reserved to prepay at any time, without premium or tee. the entire indebtedness or any part
thereof not leas than We amount of one installment, or one hundred dollars (:100.00). whichever is kss. 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 nest followia~ instalment due date or thirty days after wc6 prepayment, whichever is earlier.
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 installment, the entire pruicipal sum and accrued interest shall at once become due and pay-
able without notice at the option of the holder of this note. Failure to esercise this option shall not constitute
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 the same is collected by an attorney at law, the 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~P>~;~bg: g,~rt~n property descr_bed
therein and represents money actually used for the~acquiaitton of sat' ro' olr'tT~e improvements thereon.
Presentment, protest, and notice, are hereby wtsv~sd:. , _ , ~ • < . -
l
• ~s~eriver G. Wilkinson [gg~,~
DENVER G. WILKINSON
Barbara A. W? ~ k? nsGn [ggAL] -
BARBARA A. WILKINSON
[SEAL
And shall duly, promptly, and tuUy 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, tl?en this mortgage and the estate hereby created shall cease and 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 any time,
without premium or fee, the entire indebtedness or any part thereof not less than the amount of one installment, or
one hundred dollars (5100.Q0), whichever is less. 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
thirty days after such prepayment, whichever is earlier.
2. In order n?ore fully to protect the securit~• of this mortgage, the Mortgagor, together with, and in
addition to, the tnonthlr.paynrenta under the terms of the note secured hereby, on the first day of each month
until the Bair) note is fully paid, will pay to the :NortgagPe, as trustee, (under the terms of this trust as herein-
after stated) the following awns: - -
(e) A sum equal to the ground rents, 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
neat due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is
notified) less 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 sums to be held by Mortgageein trusttopaysaidground rents, premiums, lases, andapecial assessments.
(b) The aggregate of the amounts ps able pursuant to subparagraph (s) and those ppaayable on the note secured
hereby, shall be paid in a singe Payment each month, to be applied to the following items in the cyder
stated
(I) ground rents, tales, assessments, fire, and other hazard insurance premiums;
(II) interest on the note secured hereby; and
(III) amortization of the principal of said note.
Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the Mortr
gagor prjor to the due date of the next such pa}•ment, 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-
ment when paid more than fifteen (l5) days after the due date thereof Lo cover the extra expense involved in a
handling delinquent pa menu, but such "late charge" shall not be payable out of the proceeds of any sale
made to satisfy the indebtedness secured hereby, unless such proceeds are sufficient to discharge the entire
indebtedness and all proper costs and expenses secured thereby.
3. If t11P total of tIIP payments made hr the 1lfortgagor under (aj of paraQraplr 2 preceding shall exceed
the amount of payments actually nrarlr br the ;1lortKaKee, as trustee, for Krounrl rents, taxes and assessments, -d
and insurance prrmiwns, as Ure ~asP uraybe, such excess shall be credited on subsequent payments to be made ~
by the :Mortgggor for sut•Ir items or, at LfortgngeP s option, a4 trustee, shall be refunded to Mortgagor. If, m
however, such monthh pa}•ments shall not t?P suf6,•ient to par surh items when the s~rme shall become due ~
and payable, then the 1~fortRagor shall pay to the Mortgagee, as truster, atlx arpi?utria'necessary to make up l~
the de ciency. Such pa~•nrcnt shall be u~ariP within thirty (:30) days after written notice from the Mortgagee ~
stating the amount of the deficiency, which notice may be given by mail. If at any time the Mortgagor shall ~ -