HomeMy WebLinkAbout1955 The Mortgagor hereby ooveiu?ats with the Mortgagee, that he is indefeftisi~ljj tpized ~ nd is fee
simple or such other estates J any as is stated heroin; that hs has f all pewee and lawfuI.right to oo" bps the same
t as herein otherwise rectted• that said~ortgagoe
oa aforesaid; that the laud is free ~rom all eacumbraaces exoep ~ ~
will make such further assttronoes to prove the aforesaid tills to said land is said Mortgagee as may bs reason- {
~bly rreeqquired, and that said Mortgagor does hereby full~r warrant the title to said land, and every part thereof, ,
and trill defend the same sgsiast the Lwful claims of all perwns whomsoever.
PtsovlDSD ALMAYa that it the Mortgagor shall pay unto tbs Mortgages that certain promissory note, of
which the fo~w
o~ D~substaatia! Dopy. to wit: Ft. ~
_ , Pierce , Florida. ~
June 24th ,19 $0 ,
l
Foes VALUi IiscasvsD, the underspied praniss(s) to pay LO
Mid-States Mortgage Corporation i
a corporation orgaaiaed and esstiog under the
taws at the State of Michigan , a order, the principal sum of Sixty Thousand, and No/ 100 4
Dollars 60.000.00 with interest from date at
~ rate of Eleven and One-Half per awitum (11.50) Pce ~ ~ ~P~ baLaoe until p~• t
The said principal sad interest shall be payable a.! the og'ioe of
Mid-States Mortgage Corporation 1
G. P. 0. Box llts3-A
~ Detroit, Michigan 48232 , or at such other place as the hdder may desi~iate is writing
delivered or mailed to the debtor, in monthly installments of Five Hundred Ninety-Four and 17s.----
594.17 commencing oa the Brat day of August , 19 8paad oontinuiog oa the
first dad of each month thereafter until this note is tally paid, except that, if not sooner paid, the final payment
of principal and interest shall be due and payable on the first day of July,, 2010. -
Privilege is reserved to prepay at any time, without premium or tee. the entu^e indebtedness or any part
thereof not less than the amount of one irutallaietit, or one hundred doWus (1100.00). rrhkbever is kas. hepayment in full
shall be credited on the date received. PartW prepayment, other than oa an installment due date. used not be credited until
the next following installment due date or thirty days after such prepayment, whichever 4 earlkr.
If any deficiency in the pa t of any installment under this note is not made good prior to the duo date
of the next such instaWnont,the satire princtpal sum and accrued intenat shall at once become due and pay- ~
able without notice at the optwn of the holder of this note. Failure to e:erciae this option shall not oonstitute
a waiver of the right to exercise the same in the event of any subsequent default. In the event of default in the
payment of this note, and it the same is collected by an attorney at law, the undersigned hereby ogres(s) to
pay all coats of collection, including a reasonable attorney's fee.
Thin note is secured by mortgage of even date executed by the nndersigned on certain property described
therein and represents money seta y used for the acquisition of cad property or the improvements thereon.
Presentment, protest, and notid+ are hereby waved. #
i
Douglas J. Soule '
[~?L]
Mary A. Soule
[t3EAL] -
i
And shall dale, promptly, and fully perform, discharge, execute, e8ect, complete, sad comply with and abide
by each and ever~? the stipulations, agreements, conditions, and covenants of said roaiiseory note and of ibis
mortgage, then this mortgage sad tbe estate bereby created shall cease sad be gull sad vad.
The Mortgagor further covenants as follows:
j 1. That be will pay tbe indebtedness, as bereinbefore provided. Privilege is reserved to prepay at any time,
without premium or fee, the satire indebtedness or any part thereof not less than the amount of sae installment, or
~ one hundred dollars (=100.00), whichever is less. Prepayment in tuQ 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 more fully to protect the accurst}- 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 the said note is fully paid, will pay to the Mortgagee, as trustee, (under the tPrrag of this trust as herein-
after stated) the following scans:
(a) 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 sad other bossed insurance covering the mortgaged property, plus taxes and sssessmenta
next due on tbe mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is
notified) less all sums already paid tberefor divided by the number of months to elapse before one month
prior to the date when such ground rents, premiums, taxes, and eseeaements will became delinquent,
such sums to be held by Mortgageemtrusttopaysaidgroundrents,premiums,ta:es,andapecialsase8sments.
(b) 'fbe aggregate of the amounts payable pursuant to subparsgrapb (a) and those payable on the note secured
hereby, shall be paid in a single psymeat each month, to be applied to the following items in tbe order
stated
1 (I) ground rents, to:es, aaseasmmte, fire, and other bossed insurance premiums;
(In interest on the note secured bereby; sad
(IIn amortisation of the principal of said note.
q Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the Mortr }
~ gager prior to the due date of the next such payment, constitute sn event of default under this mortgage. ~
s At Mortgagee's option, Mortgagor 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 ~
handling delinquent pay meats, 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 the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall exceed ~
the amount of payments actually made by t(ie 111orlgagei•, as trustee, for ground rents, taxes and assessments,
and insurance premiums, as the case may be, such excess shall be credited on subsequent payments to be made 'O
by the '.Viortgagor for such items or, at Mortgagee`s option, es trustee, shall be refunded to Mortgagor. If, g'
however, such mont}ily payments shall not }x. suffi~•ient to pad: such iteiiis when the same shall become due }•i ~
and payable, then the :4tortgaRor shall pay to the Mort(logeE, as trustee, an~• amount necessary to make up ~
the deficiency. Such payment shall bP marls 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 ~
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