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Home My WebLink About0062 The Mortgagor hereby covenaata with the Mortgagee, that he is indetRasjb~ly seized ot•asid land in tee simple or such other estates J say ps is stated herein; that he has full power a~ld ~av?ful right taooovev the same as aforesaid; that the land u free ~rom all encumbrances except ss herein otherwise recited; [bat said7uiortgagor will make such further seaurances to provo the aforesaid title to said land in said Mortgagee as may be reason- ab~y regwired, and that said Mortgagor does hereby fullyy warrant the title to said land, and every pact thareot, sad will defend the same against the bwful claims of ell persona whomsoever. Paovrusa ALMA:s that it the Mortgagor shall pay unto the Mortgagee that oectain promissory note, of which the following is a substantial Dopy, to wit: ~ Stuart ~ i 36, 000.00 October 1 ~ 19 80 , Fos Vwtvs Rsesrvsn, the undeesi®ued promise(s) to pay to VANTAGE MORTGAGB ASSOCIATES, INC., a Florida corporation , a sorporatioa organised and existing under the Laws of Florida . or order, the principal sum of THIRTY-SIX THOUSAND AND 00/100-------------------------- mare 36, 000.00- witb interest from date at the rate of - -thirteen - - P~ oentum (-13-%) Per annum on the unpaid balaaoe until paid. The said principal and interest shall be payable at the office of Vantage Mortgage Associates, Inc., 317 Minorca Avenue, ~ Coral Gables , or at auc6 other Plans as the holder may designate in writing delivered or mailed to the debtor, in monthly installments of H~~ Ninety~ight & 52/~o~'m 3 9 8.5 2 commencing on the first day of November , 19 g 0, andd ooatinuing 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 October, 2010., . Privilege is reserved to prepay at any time, without premium or fee. the entire indebtedness or any part ther+cwt not lea than the amount o[ one Installment, or one hundred dollars (1100.00). whicbever is lea. 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 nett toUowint installment due date or thirty days after such prepayment, whichever is earlier. If any deficiency in the payment of any installment under this note is not made good prior to tLe due date of the nest such matsllment, , e entire principal sum and accrued interest shell at once become due and pay- able without notice at the option of the holder of this note. Failure to exercise this option shell not oo~titute a waiver of the right to e:erciae 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 to attorney at law, the undersigned hereby agree(s) to pay all costa of collection, including s reasonable attorney's fee. 'T'his note is secured by mortgage of even date executed by the undersigned on certain property described tLerein and represents money actually used for the acquisition of said property or the improvements thereon. Presentment, protest. and notice are hereby waived. /s/ Harry W• Rruger HARRY W. KRUGER J [~•l [s/ Edna C Rruger _ [s8r?t,] EDNA C. KRUGER - And shall duly, promptly, and fully perform, discharge, execute, eRect, complete, and comply with and abide by each and every the stipulations, agreements, conditions, and covenants of said Promissory note sad of this mortgage, then this mortgage and the estate hereby created shall cease and be null end void. The Mortgagor further covenants sa follows: 1. That'-be will ppasy the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, without premium of'fee, the entire indebtedness or any part thereof not less than the amount of one installment, or one hundred dollars (;100.00), whichever is hiss. Prepayment in [uU shall be credited on 'the date received. Partial prepayment, other than on as installment due date, need not be credited until the next following installment-due date or thirty days after such prepayment, whichever it earlier. 2. In order snore fully to protect the security of this mortgage, the Mortgagor, together with, and in addition to, the rnonthl~ payments under the terms of the note secured hereby, on the first da}• of each month until the said note is fully paid, will pay to the titortgagee, as trustee, (under the terms of this trust as herein- after stated) the followirig sums: (s) 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•hass><d insriraiice oovermg the mortgaged ProP~Y. Plus taxes and assessments neat due on the mortgaged propert~?.(all ae ea~ated 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 become delinquent, such sums to be hdd by Mortgageeintrvattopaysaidgroundrerits,premiums,taxea,andspecialassessrnenta. (b) The aggr+egste of the amounts payable pursuant to subparagraph (s) and those Payable ors the IAOte'aecured hereby, shall be paid in a single payment each- month, to be applied to the fallowing items is the order ,stated . (T) ground r+enta, taxes, assessments, fire, and other hasard insurance premiums; (II) interest on the note secured hereby; and (IIn amortisation of the principal of said note. Any deficiency in the amount of surh a ate monthly payment shall, unless made good.by the.Mort- I gagor prior to the due date of the next such payment, constitute an event of default under this mortgage. At Mortgagee's option, Mortgagor will pay a "late charge" not exceeding four per centum (4%) of any install- ~ went when paid more then tt~eea (15) days after the due date thereof to cover the extra expense involved in handling delinquent payymenu, 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 bhe entire C,.,~ indebtedness and ell proper costs and expenses secured thereby. M~ 3. If the total of the payments road[' h,)- the Morigagor under (a) of paragraph 2 preceding shall exceed G7 the amount of payments actually made h~• the liortgaKee, as trustee, for Kround rents, taxes and assessments, ~ and insurance premiums, as the case ma.' be, such excess shall Ix• credited on subsequent payments to be made ca by the Mortgagor for surh items or, at titortgagPe's option, ag trustee, shall be refunded to Mortgagor. If, however, such monthly payments shall not hc• suffi~•ient to,pay surh.itenis when the same shall become due and pa 'able, then the Mortgagor shall pay to the Mortgagee, as trustee, any amount necessary to make up the deficiency. Such payment shall be made 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 - - -