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Home My WebLink About0904The Mortgagur hereby covenaats with ~be Mortgs~ee~ that he ia indefea~:ibl . aeia.ed oi ai-id Isnd in !ee aimple or such ot,her eatatet d any as ie atated herein; that he has !u!1 pow•er and Is~ul rigbt t,o ooavev tbe swme ~e aforesaid; tha6 ~he land ~ free ~rom sll eacumbrancee exc;ept as herein ot,herwise recited; lhaL said~Vloregsgor rvill muke suc6 furthar assur4nces to pcovo tLe aioreaaid Litle to ssid land in said Mortgagee ~a msy be reru-oa- ~-blyrequired, snd th~t said Mortgagor does hercby fulty wuran` t6e title to said land, sad every pur6 tliereot~ und ~riU defend the same agaiast t~6e lawiul claims of W peceons whomsoever. Paov~DaD A~~-eYa that it the ~iortg~gor ah~ll p~y unLo the Mortgages Lh~~ ce~tain promieeory note~ ot wLich the following ia a substawtisl ooPy~ to wi~: i 34,000.00 Stuart ~ I~1or;da, January 8,19 8l. Foa Yw~.us RscstvsD, the undecs~e~ promiee(e) to pay to VANTAGE MORTGAGE ASSOCIATES, INC. , a Florida corporation ~,~e ~ F10ridd tbe rsce ot thi rteen and Tbe said principal and iat.ereo Suite 9, 3131 NW 13tii . s oorporation organised and e~oatia6 undcr the , or order, the principal sum oE THIRTY FOUR THOUSAND AND QO/100 ----------------- Dallars (i 34,000.00--- ), with intee+est trom date at Otl.e-hal f per ceatum (13. 5%a) per annum on t6e unpaid balanoe uaW paid. st ehaU be payable at the o~'ice c-t VANTAGE MORTGAGE ASSOCIATES, INC. , S~reet, ~ in Gainesvil le, Florida 32601 ~ or st auch other ptaoe aa t~e hdder msy deuignate in writing delivered or maited to the debtor, in monthly iastaUmente of jHREE NUNDRED EIGHTY-NINE & 64/0~~ (i 389. 64----- ), oommencing on tt~e Srst day of February .~9 g~ , aad oontinuwg on t6e SraL dsy o! each month thereafter until this note is lully paid. exuept thst, if not eooner paid, We find psyment o! princ-pal snd inLerest ahall be due wd payable on tho firet dsy oi ~anuary, 2011. . . Privilege ia reserved to prepay st anp time~ without premiuon or fee, Lha entire indebtedaees or eny part thereof not less Wan t6e amount o[ one instaUment. or one hundced doilus (a100.00), whichever is kss. Yrepayment in [ull s6a11 be credited on tde date received. Partial prepayment, other than on an installment due date, need oot be cceditld until the neatt idlo~rin=lnstallmeat due date or thirty days a[ter such prepaymeat. wAic6ever is eulier. If any deficiency in tLe psyment of sny installment under this note is not made good prior to the due dste of the next suoh installmenk t6e entire prwcipsl sum and accrued interest shall st once beoome due and pay- able without notice at the optaon o[ the holder of thia note. Failure ~o exem.ise this option ehall not oonetatute a waiver of the right Lo ezerctse the same in the event oi any subeequent default. In the event of deisult in the payment of Wis note, and if the same is collected by an sttorney at lsw, the undersigned hereby Rgree(s) to pay all ooste of collection~ including s reasonable sttorney's fee. Thia note is secured by mortga~e of even date executed by the underaigned on cert~ain pmperty deecribed therein and reprc~senta money actually used for the acquisition oi eaid properf.y or the improvemente thereoa. PresenLment, pmf,est, and notice are 6ereby waived. /s/ DAt~IEL B. WALLACE ~~~ ___. ~ARTEC-B. 'Al(LL~~ [~.] [~] (sg~-Ll And shall duly~ promptly, aad fully perform, discharge, execute, eftect, oomplete, and comply with sad sbide by each and every the stiputations~ agreements, conditiona~ and covenants of said promissory note and of Lhis mortgage~ t6en this mortgage and t6e estate hereby created shall oea9e aad be nuU aad void. TAe Mortgagor farther coveasnts as tollows: 1. 1'hat be will pay the indebtedness, as hereinbefore provided. Privilege ia reaerved to prepay at any time, without premium or fee, the entire indebtedness or sny part t6ereof not leas than the amount of one installment, or one hundred dolla~s (S1Q0.00), whic6ever is less. Prepayment in fu0 shatl be credited on the date received. Partial prepayment, other than on an installment due date, need not be credited until the next following instaliment due date or Wirty days after such prepayment, whichever is earlier, 2. In ~r~ler morP full}• to ~prot~~t th~ sr~~uritr of thi.s n-ort~a~;N, the ~tortRsf-or, tc~ethPr with, and in addition to, th~ mc-nthl~• pa~~nients unJ~r th~ t~rms of tlu~ not~ s~~urnd h~rcb~~, on thc: first da~• of earli rnonth until tl-e said not~• is full~~ paid, w~il! par to the ~tort~u~;~~, as tru.gte~, (und~r th~ irrms of thi.s trust as herein- efter statPd) th~ followinR swns: _ (a) A sum equal to t6e ground rents, i! any, neact due, plus the premiuma that wiU next become due and payable on policiea of fire end other hasard insurance oovering the mortRaged property, plus taxes and sssessmenta aext due on t6e mortgaged property (all sa estimatcd by tbe Mortgsgee and of which the Mortgagor is noti6ed) lese uil suma slready pa~d theretor divided by the aumber of ma-ths to elapee before one month prior to the date when such ground renta, premiuma~ taxes, and ss~essments ~vill tiecome delinquent, euch sume to be held by Mortgageeintraattopayeaidgroundrenta,premiums,ta~cee,andspeciala~asments. (b) The aggregste of the amounta-pa,yable pureuant to subparagraph (a) snd thoeepaysble on the note secure~ hereby, ehall be paid in a single paymeat each montb, to be applied to the follow-ing itema in the order ststed (I) ground renta, ta~cea, assessm~ta, fire, and ot6er hasard insurance pr+emiume; (II) intereat on the note eecured hereby; and (III) amortiaatioa of the principal oi esid note. Any deficiency in the amount ot such s~reRate monthly paytrtent shall, unless made good by the Mortr gagor pr~or W the due date ot the next such payment, const~tute an event of default under this mortga{;e. At Mortgagee's option, Mort~agor w~ll pay a"late cl~arge" not eaceeding four per centum (4°Jo) ot any install- ment when paid more t6sn 6~Iteen (15) days sfter the due date thereof to cover the extra expense involved in handling delinquent payments, but such "late charge" shall not be payable out of the proceeds of any sale made Lo satis(y the mdebtedness secured hereby, u~iless such proceeda are eufficient to discharge the entire indebtedness and all proper costs and expenaes secured thereby. 3. 1~ thP total ~f th~ pa~•m~nts mn~i~ h~- the ~'Iort~u~~r un~l~r (a) o( pnraRrapb 2 pr~~edinR ahalt exceed the amount of parments a~tuull}- nia~i~ h~- tj~e :ttort~aKP~•, as trust~~, for Kroan~l re•nts, taxes and agses.cmenta~ an~~ insuranrP prru~iun~s, as U-~ ~•as~ ~nar tx~, such Pxcc~s.4 slisli 1~ ~redit~~i on sui~equent paymen4s lo be msde by thP MortgaE;or for sucl~ it~ni~ or, nt~ ~tortgn~~~'s option, as truste~, shall be mfunded to Mori,gagot. 1f, however, su~Fi monlhl~• pa~•m~nts sholl not IM su~~•icnt lo pa~• su~h items whPn the samP ahall become due and pa~•ahtP, tl~en thc :41ortK$~or ~hsill pnv to th~ .`lortgafi~~•, a~ truste~, nn~• a-nounL necessary to make up the deB~ienc~. Such pa~•mcnt sliel) t~ ~nade within thiny (30~ da~a sher wtittpn not.ice from the Morigagee stating the amount of the deficiency, wl~ich notice msy be given by mail. If st any time the Mortgagor shall ~ ~~ ~ ~ c~ T.