HomeMy WebLinkAbout0630 Tha Mortgagor hereby oovenanta wish the Mortgagee, tbat he is iade~eaai~~~pgiae~ otaN~ in tee
simple or such other estates J any as is stated her+eia; that he has f all power and~4 ~t t0 of a anrne
as aforesaid; that the land >o Tres from aU eacumbraaoea except as bereut otberwrse rented; that ear or r
will make such further assurances to prove the atorasaid title to said land in said Mortgagee as_may be re~n-
ab~y required, and that said Mortgagor does hereby icy warrant the title to said land, sad every part thereof,
and will defend tbs same against the bwtul claims of ail persow whomsoever.
Prtovrasa ALwairs that ii the liiortgagor shall pay unto the Mortgages that certain promissory note, of
phich the following is a substantial copy, to wit: Stuart , Flocids.
i 47,500:00 October 7,1980.
FoA Vnrus Rscuvsn, the undersigned promise(s) to pay to VANTAGE MORTGAGE ASSOCIATES,
INC., a Florida corporation
, a oorporstion organised sad e:isRioa under the
)awe ~ Florida . ~ ~ P~pPv sum of FORTY-SEVEN THOUSAND FIVE
HUNDRED AND 00/100-------------- Dd1am (:47,500--- with interest from date at
• the fete of - -thirteen - - per oentum (-13 PW annum an the unpaid balance until paid.
The acid principal and interest shall 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 instaUmenta of Five Atuzired 'l~a~enty~"ive & 83/00 Dollars
(=525.83--- commencing on the first day of November ~ , 19 80, 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 October , 2010.
Privilege is reserved to prepay at any time, without premium or fee. the entire indebtedness or say part
thereof act ler Wan the aawunt of one ln:tillment, or one hundred dollars (:100.00), whichever is less. Prepayment in full
abaD be credited on the date received. Partial prepayment, otter than on an instalment due date, need not be credited unW
the next toitowing in:tallmeAt due date or thirty days after such prepayment, whichever i; earlier.
If any deficiency in the pa nt of any installment under this note is not made good prior to the due date
of tLe next such installment, the entire principal sum end accrued interest shall at once become due and pay-
able without notice at the option of the holder of this note. Failure to ezercise this option shall not oonatrtute
a waiver of the right to exercise the same is the sweat 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 Lw, the undersigned hereby agree(s) to
pay all coats of collection,"including a reasonable attorney's fee.
This note is secured by mortasge of even date executed by the undersigned on certain property described
tLerein and represents money seta y used for the acquisition of said property or the improRements thereon.
Presentment, protest, and notice? are hereby waived.
/s,[ David R. White
DAVID R. WHITE
[mil
Dina R. White [~?t,]
DINA R. WHITE
' [tom.]
~ ~And•atrall dulvjr, Prom{~Y, end ~Y perform, discharge, execute, effect, complete, and comply with sad abide
~ by each and every the sUpulstiana, agreements, conditions, and covenants of said promissory note and of this
mortgage, then 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 say time, .
without premium or fee, the satire indebtedness or any pert thereof Hoff less than the amount of one installment, or
one hundred dollars (:100.00), whichever is less. Prepayment in [all shall tre credited on the date received. Partial
prepayment, other than on an installment due date, need not be credited until the next [olbwing instalment due date or
Wirty days after such prepayment, vvhicheva is earlier.
2. In order more tulle to protect thQ security- of this mongage, the Vfongagor, together with, and in
addition to, the monthly payments under the terms of the note secured hereb~•, on the first dad of each month
until tyre said note ~ fully paid, will pay to the Mongsgee, as trustee, (under the terms of this trust as herein-
after stated) the following scans: _ ~ •
(a) A sum squat to the ground rents, ii any, next due, plus the premiums tbst-will next became due and payable
~ policies of fire and other basard Insurance covering the mortgaged property, plus taxes and assessments
next due on the mortgaged property (all ss estinnated 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 ouch ground feats, premiums, taxes, and assessments will become delinquent,
such aumsto ba hdd by Mortgageeintrusttopaysaidgroundrents,premiums,tau~,andapecialasseasmenta.
(b) The aggregate of the amounts payable pursuant to aubpangraph (a) and those payable oa the note secured
~ h~~, sbaU be paid is a Bugle payment each month, to be applied to the fallowing items in the order
m ground r+mta, taxes, assessments, 5re, and other hssard insurance premiums;
(II) interest on the note secured hereby; sad - _
(IIn amortisation of the principal of acid note.
My deficiency is the amount of sucb aggregate monthly ~syment shall, unless made good by the Mortr
~ gagor prwr to the due date of the next such payment, constrtuta an-event of default under this mortgaagge.
At Mongegee's option, Mortgagor will pay a "late charge" not exceeding four per centum (4°Jo) of any install-
ment when paid more than Steen (15) days suer the due date thereof to cover the extra expense involved in •
handling delinquent ~ayymenu, but such "late charge" shall not be payable out of the proceeds of any sale
made to satisfy the tadebt~dness secured hereby, unless such proceeds are sufficient to drscharge the entire $s+v
indebtedness and all proper costs and expenses secured thereby.
3. It the total of the parrrrents nrarie b),- the Mortgagor under (e) of paragraph 2 preceding shall exceed
the amount of pa}•rnents actually rrrnrle b~• the Mortgagee, as trustee, for ground rents, taxes and assessments, E",'
and insurance prerrriurrrs, as fire case nisy be, such excess shall be credited on subsequent payments to be made ~
by the Mongagor for such items or, at Mnngnge~'s op~,ron, as trustee, shall be refunded to Mortgagor. If, ~
however, such riiontldy payments shell nM~tip suffi~efii to pay surh items when the acme shall become due
and ppa •able, then the Mortgagor slrsll pay to the Mongagec, as trustee, any amount necessary to make up
the de~ciency. Suclr parnrent shall be merle within thirty (:i0) da~•s after written notice from the Mortgagee _
stating the amount of the deficiency, which notice rosy be given by mail. II at any time the Mortgagor shall
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