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Home My WebLink About0899The Mortgagor hereby covenauts witb the Mortgagee~ thst he ia indeleasib~ly seized of soid laad ia fea eimplo or such ot~her estates d any as is atat,eci henin; that ha hss lull power end lswful right to oo4vey the snme aa afaresaid; t,het the Iwnd ts itee ~rom t-ll encumbrances excep~ ss herein ot~herwise recited; that said 1~lortgagor ~viU make such turtber asaurances to provo the atoreseid titte+ to 8aid I~nd in said Mortgagee ~e may be re~on- ablyrequired. and that said Mortgagor does hereby !ully w~rraat the title to said lend~ snd every put l}~eti eot, and will detend the same agsiast the lswiul clsims oi W peraona whowsosver. Paov~Dan AL~r~Ye tLst it the ~1loctgsgor a6all p~y unto the Mortgagee that ce~tain pmmissory note~ oi which the following is s eubstsntial c~PS~ to wi~: = 36,000.00 Stuart , Florida. January 8 , ~9 81 . Foa Yru.us Ascuvsu, the undereigued promise(e) to p,y to VANTAGE MORTGAGE ASSOCIATES, INC. , a Florida corporation ~ . s oorporation orgmised and e~ostina under the bwe o! Florida , or order, the principal sum of THIRTY-SIX THOUSAND AND 00/100 ---------------------------------------- Dollars (t36,000.00--- ). ~vith iaterest irom dste st t6e r,-t,e ot thi rteen and one-hal f~r cencum ( 13. 5%) Per annum on the unpsid balance uatil paid. The said principal snd interest ahall be payable at the oQ'ice of VANTAGE MORTGAGE ASSOCIATES, INC. , 3131 NW 13th Street, Suite 9, ~ ;a Ga i ne sv i 11 e, F 1 ori da 32601 ~ or at such other p1soE sa the holder msy deaignate in writing delivered or mailed to the debtor, in monthly ~,scat~mence o! Four Hundred Twelve and 56/100-- Dollars (= 412.56---- ), commencing on the Srst day of February , 19$~ , aud oontinuing on the firat dsy of each month thereaiter uatil this note ia fully paid, except t~st~ if not eooner paid, the Snal payment of princapal snd interest shall be due and psyable on the firat day of ~anuary, 2011. ~ • pcivilege is reserved to prepay et aay time, without premium or fee, the eatire indebtedneee or any part thereot not less than the amount ot one instaUment, or one hundred doltus (a100.00)~ whichever ~S less. Prepayment in full ahall be credited on the date received. Partial prepayment, other than on an instaliment due date, need'not be credited until t6e nPact foUowing installment due date ot thirty days atter such prepayment, whichever is eulier. If any deficiency in the paym ent of any instullment under this note is not made good prior to the due date oi t~he ne~t such instaWnent, t6e entire principal sum and accrued interest shall at once become due and psy- sble without notice at the option of the holder of t'~is note. Failure to exercise this option shall not oonatitute s waiver of the right to exercise the same in the event of anp subsequent default. In the event oi default in the payment ot 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 a reasonable ettorney's fee. This note ia eecured by mortgage of even date eaecuted by the undersigned on oertain property described therein and representa money actually used for the acquisition ot said property or the improvements Lhereon. Presentmenl,~ proteat. and notic,~s are hereby waived. w_.-/s/----TNELMA R. SAXTON ~---------- [s~.] THELMA R. SAXTON ----- [sc~r+~] [sFr-L] [s~-~] And shall du1y~ promptly~ and lully 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 thia mortgage, then thia mortgage and the estate hereby creuted shall cea.ge and be nuU and void. The Mortgagor further covenants as tollowa: 1. That he will psy the indebtedn~s, as hereinbefore provided. Privileqe is resened to prepay at any time, without premium or fee, the entire uidebtednesa or any part thereof not less than the amount of one inatallment, or one hundred dolla~s (SI00.00), whichever is less. Prepayment in [ull shall be credited on the date received. Partial prepayment, other than on an installment due dale, need not be credited until the next (ollowing installment due date or thirty days after such prnpayment, whichever is eazlier. 2. In order rnor~• full~• t~ protr~•t th~• s~~rurit~- of th~~ n~ort~-a~~•, th~ ~torlkagor, tog~tl~~r w•ith, and in addition to, th~ monlhl~- pa~-n-ents und~r th~~ t~rm5 of th~• notf~ R~~•ur~~l hrrE•1-~•, oa thf• first da~- of ~a~h montl~ until th~ said nM~• is full~• puid, Nill pn~- to th~~ ~1ort~-a~:~~, R~ trust~~~•. (un~l~•r tlir t~nns ~~f thic trust as h~r~in- after steted) tii~ folloKinK sums= ' (a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable oa policiea of fire and other hazard insurance covering the mortRaged property, plus taxes and assessments next due on the mortgaged property (all as estimated by the ~iortgagee and of which the Mortgagor is noti6ed) less all sums already paid therefor divided by the number of months to elapse befom one month prior to the date when such ground rents, premiums, taxes, and assessments will become delinquent, auch suma to be held by Mortgageein truattopaysaidground rents, premiums. taxes, andspecial as.gessments. (b) The aggregate ot the amounts payable pursuant to subparagraph (s) and thoeepa yable on the note secured hereby, shall be paid in a single payment each montb~ to be applied to the.foUowinq items in the order etsted (I) ground renta, taues~ assessm~ate, Sre, and other hazard insurance premiume; (II) interest on the note eecured hereby; and '~ (III) amortization of the principal of said note. Any deficiency in the amount of such a~~rP~ate monthly payment shall, unless msde good by the riort- gagor pr~or to the due date of the next su~h pa~•ment, const~tute an event o[ detaul~ under this mortgage. At Mortgagee's option, Mort~agor will pay a"late c1~arKe" not eaceeding four per centum (4°fo) ot any install- ment when paid more than fitteen (15) da~s a(ter the due date thercof to cover the extra expense involved in handling delinquent Pay•ments, but such "late charge" shall not be pn~ able out of the proceeds ~( any sale made to satisfy t6e ~ndebtedness secured hereby, unless such proceeds are sufficient, to. discharge the entire indebtednesa and all proper costs and expenses secured tt~ereby. 3. If th~ total ~f th~~ pa}-~n~nts n~a~l~ h~• the ~1ort~a~;or und~r (a) of ~-era~ruph 'l prr~PdinK shall ~xceed the en~ouM o~ pa~'m~nls RMunll~- nie~lr r-~- ~i~E~ \1ort~;n~-e~•, ag trust~~, fnr Kroun~l r~~ntc, taxes and a~.~.~ments, and insurance pr~iniwus, a~ th~~ ~•~s~• nu-~-~b~~, surh ~x~rss shal) I-r ~redit~~l on s~l-~~~qucnt papments to t,e made b~ the VtongaKor for su~h it~rnc or, nt~ 11~rtgn~~~r's option, xs trost~~, shall bP refunded to Morl,~agor. If, however, sucFi nionthl~~ pa~•m~nts sliell not }-r suffi~•i~nt t~ pa~• sw•h items wh~n the sam~ shall become du~ and pu~•able; tl~en tlie ~lortKn~or ~hall pn~• to th~• ~1ortRn~-~~•, a~ In~gtc~, an~• aii~ount ne~PSSarv to mske up the defici~nc~•. Sw•li pe~•m~nt sftnl! br ~ua~I~ wilhin tl~i~l~ (:i0- days after written noti~F (rom t~~e :1~Iorigaf;ee etating the amount of th~ de,~icienc~~ which notice mnv be given bv mai) It et an tim th ~'11 t h ~ ~ _ ~~ ~ ~ -o ~ ~ ~ -~ _~ . . • y e t. or ga~;or e al) ~