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Home My WebLink About16493~ The Mortgagor hereby covensats with ths Mortgagee~~ that he is iadeteac.ibly aeued ot said land in !ee eimple or suc6 other eatatst d sny ~s ie atAi~ed herain; thae he hss tull pow er and lawtul right t,o aouvev the sRrua as ~foressid; thst tbe laad ~s iree ~mm all encumbrancee except as herein otherwise recited; tbst said Mortgagor ~vill malce sucb furtber asaurances to provo the slores~id title to said Iand in said Mortgagee us m~y be renson- sblyreq uired, and Lh~~ said Mortgagor does Lereby fuUy wurau6 the tiWe to said land~ and every pstt t~t~ereot~ and ~vitt defend the sama ~gsinat the lswiul clsima oi si! persons whomsoever. PROVtnsn ALw~YS thaL if the ?~iortgagor sLall pay unto the Mortgag~e that oartain promissory note, oi which the tollowing is a subatsntial oopf~ to ~-it: i 51,370.00 Stuart , Flor;d~, January, 12 , i9 81 . Fox Vwi.us RscsivsD~ the undere~dd pmmiee(e) to psy to YANTAGE MORTGAGE ASSOCIATES, INC. , a Florida corporation , a oorporation orgsnised and e~ostins under tbe bwa of Flol^lda , or order, the principal sum oi FIFTY ONE TNOUSAND THREE NUNDRED SEVENTY AND OOJ100-------------- Dolfars ti51,370.00----). •~-tb int,erest from date st the rate oi thirteen and one-hal f Pec aentum (13. 5%) P~ ~-um aa the unpaid b~lance until puid. The said principal and interest shatl be payable at the o~c~ of VANTA6E MORTGAGE ASSOCIATES, INC. , Suite 9, 3131 NW 13th Street ~n Gainesvil le, F101^ldd 32601 , or at such other p1auE sa t6e holder may deaignate in ~vriting delivered or maifed to t6e debtor, in monthly inscallmencs otFive Hundred Eighty-Eight & 70/O~olla~s (= 588. 70------), commencing on the Srst day ot February , 19 $1, and oontinu'ing on the firat day of each month tLereaiter until this ~pote is fully paid, except that, if not eooner psid, the fip~ payment of princ~pal +wd in~erest shall be due and payable on the 6ret day oi Jdnuary Z 1 privilege is reserved to prepay et any time~ without premium or fee, the entire indebtednesa or any patt t6ereoi not less thu- the amount of one inatalime~t, or one dundred dollus (a100.00), whichever is lesa. Prepayment in full ahall be credited on the date received. P~ttial prepayment, oWer than on an instaUment due date, need not be credited until t6e next fdlowing instaltment due dtte or thirty days atter such prepayment, whichever is eulier. If any dofiGiency in the payment of sny installment under this note ie not made good prior to the due dste of the nea~t such installment, t6e entire pru~cipal sum and accrued interest shall at once beoome due and psy- eble without notice at the option ot the holder oi this note. Failure to eaercise this option shall not oonstatute s waiver oi the right to exercise the same in the event of any subsequent default. In the event of defauit in the psymen6 of this note, and it the same is collected by an sttorney at lsw, the undersigned hereby agree(s) to pay sll costa oi collection~ including a reasonable attorney's fee. This note is secured by mort~age of even date eaecuted by the undersigned on c~rrtain pmperty described tLerein and represents money actua7ly used for the ecquisition of eaid pmperty or t~6e improvemente thereon. Presentment, proteat, and noLic,~s are hereby waived. __~1 _WI~LIAM E. KEELE,,~JR ___ [~] WILIIAM E. KEEIE, .1R. __1~1. JOY ~K.~.LE ---------- [sg~-L7 JOY A. KEELE . [~l [s~i.) And shall duly~ promptly, and fuliy perform, discharge, execute, eHect, complete, and comply with and abide by each and every the atipulations, agreements, conditions, and covenants of said promissory note and of thia mortgsge~ then this mortgage and the estate hereby created shall cease and be null aud void. The Mortgagor further covenants as follows: 1. That he will pay the indebtedn~x~ as hereinbefore provided. Privilege is reserved to prepay at any time~ without premium or fee, the entire indebtedness or any part thereof not lesa than the amount of one u-stallment~ or one hundred dollaes (5100.00), whichever is less. Prepayment in full st~all be ctedited on the date received. Partial prnpayment, other than on an installment due date, need not be cmdited until the next [ollowing +nstatlment due date oT thirty days after such ~-mpayment, whicherer is earlier. 2. In order nror~ fu11~• to proteM th~ st~curit}- of this mort~a~e, tl-c ~4ortKa~or, togeth~r with, and in addition to, t}-~ inonthl~ pa~t-tents under thr termc of th~• nmP sf~ured h~•reb~~, on thc• first da~- of ~~a~h montli until tl~e saicl not~ is fullv puid, v-i11 pnc to th~ :~1ortKu~;~e, a.~ tru.gtee, (und~r ti-~ lerins o( thii trust as herein- after stated) the following swns: (a) A sum equal to the ground renta, ii any, next due, plua the premiums that wiU next become due and payable on policies of fire and other hatard insurance covering the mortgaged property~ plus taxes and assessments ~ next due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is noti6ed) less all eums already paid therefor divided by the number of months to elapse before one month prior to the date when such ground rents, premiuma, taxes, and assessments will become delinquent, euch euma to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taues,andspecialassessments. (b) The aggregate of the amounta papable pureuant to subparagraph (a) and tfiase payable on the note secured ~ hereby, ahall be paid in a eingle payment each month~ to be spplied to the following items in the order etated (j) ground rents, taues, assessmeats, fire, and other hazard insurance premiume; . (II) interest on the note secured hereby; and (III) amortization of the principal ot said note. Any deficiency in the amount o( such aggre~ate monthly payment shall, unless made good by the Mort- gagor prjor to the due date ot the next such payment, const~tute an event of default under this mortgage. At Mortgagee's option, Morioagor witi psy a"late cl~arge" not eaceeding four per centum (4%) oi any inslall- ment when paid more than fifteen (IS) days after the due date thereof to cover the extra expense involved in handling delinquent pay ments, but such "late charge" shall riot be payable out of the proceeds oi any sale msde to satisfy the indebtkdness secured hereby, utiless such prceeeds are aufficient to discharge the entire indebtednesa and all proper costs and expenses secured thereby. . 3. i[ the total :-f the pacments n-a~l~ h~• the ~lortga~or und~r (e~ o( pnra~rnph 2 pr~cedin~ shail exceed the amount of ps~-ments actunllr n~ad~ t,~• t~ie :ltortKa~c~~, as trust~c, for ~rou~d re•nts, tnxes and assrssments~ and insurance premiauis, ag thr cas~ ma~• Fx~, such ~xc~ss sl~ail I>e crPdit~~1 on subs~yuent pa~'ments to be made bv the ~Sortgagor for su~t~ ite~ns or, n1~:~4ortgn~~~'s option, ag trustee, shell h~ rnfunded to 11~fortgagor. If, however, such ~nonlhl~• ps~•mcnts shnll not tM ~ufi'i~•i~nt to par curh items wh~n the samP shall become due and pay•able,•then thc ~iort~a~or ~hull pn}• to th~~ :~1ort~a~er, ns trustc~, nn~- amount necesserY to mske up the deficienc~•. tiu~h pa~•ment shnll b~ n~a~1e within thirty (:i0) dn~^~ after wtitten notice from the Mortgagee ststing the smount oi t,he deficiene~, which notice may be given by mail. 1t at any time the ~tort~agor ehalf ow a ~ ~ ~ ~ ~ -v ~ ~ ~ T ~ C.J~