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Home My WebLink About0326 ~ t ~ . • • ~ , ' ~ The ~lortge.,~or hereby covenants with tha Mortgagee~ thst h0 ia iudeieaAibly seized dt said land in fee aimple or such o4her eatat.~t any as is stated berein; tl~a6 he has full powor and lawiul right tu convev tho aRnie s ia sfc?re~aid; that the land is irea ~rom all encumbranaes E?xcc?pt a.g hereiu otherwiso recit,ed; ~hat saidZviort.~a~r € will mske~'such furlher aasurances to provo~~he aforesaid title to seid land ia said h4ortgagee tia mey bo roason- t ~?bly req uired, and thwt said Mortgagur cloea hereby fully warrauti the title to said land, and every psrt tl~ereot, ~ and wi'll defead the s~una ageinst the lawful clsima of all parsona wl,omso0ver. ~ ~ Faovioxp Auw~Ya that if the riortgegor shnll pay unto the Mortgagee th~t certai.n promisaory note, of ( ~ which We foll~wing i~ e a~~batantial oopy, to wit~: ~ ( = 35, ~•04 Fbrt Pierce , Florida. May 30 ~ 1~ 7~ ' ~ FOR YALUIi IZ~C~IV~D~ the undersigned proraixe(s) to pay to • ~ . ' Tf~ T~MAS & NE4.TI~:TON CO~+iPANY , a c~orporation-organiaed end e~dstina under- L~ ls~ws o[ #h~ ~',a~e of-Co~tnecticutn or~rdor, the principal suc~ of THIRTX-FIVE TIiOUS~NU AND ----~--------------no~l(~P~ ~a~5~000.00 wi~i inter~st from dete st af I~TGHT :+ND ONE HALF Per centum ( °fo~ per annum on the uapaid b~elaaoe until paid. ~ The aaid priacipal and inter~es~ahall be payable at the o~ce ot The Lomas & Nettletan Compan,y , ~ ~ P. 0: Box 964 - Virginia Tieach ~ ' ~ in ~ Virgir~ia 23~+51 , or at suah othE.r p1acE as the h~er may dRsignate ~s-~vriting delivered or mailed to the debtor, in monthly installmenta of ~p ~~g~ SI3('PX-NINE & 15~100-~~~ - - ~ 269 ~ 15 .,oinmencing on the firat day of Ju~,y , 19 75, aad continuing on the • first day oi eacN mont~ thereaiter until th:s nots is fully paid, exc~pt that, ~f not soone; paid, the final payment ui prinrapal and int~r~st shall be due and peyeble on the fin~t day of June ~ , 2005 . piivile~e is reserved to prepay at any time, wit,hout premi~un or fee. the enti.~e indebtedness or any n~rt theteof not iess than thP amaunt ~f one installmentt or one hundred doU~rs (~100.00), w~lchever is less. Prepayment in full - shalt be credit~ on the date recelved. Parttal prepxyment~ other ttwn on an ins~ialltnsnt due date, need not be credited until the next following lnstsllrr~ent due date or thlrty ciays after sucb prepapment,.whichevei is earlier. . ~ If sny defir.i~ncy in the payment of ang uistallment ainder this note is not me~de good prior to the due date ~ " ot the next auch installment, the entira principal sum and ar.crued intereat ahall st once become due and ~sy- , Ab16 Wl~Oll~ gOt.1C8 St L~8 Opt.IOII O~ ~9 holder of this note. Failure tio exercise this ~pti~n shall n~t c,anstatute s waiver of the righc t~ eaercise the samo in the event of any subaequcnt defanlt. In the event of default in the ~ psyme~t of this note, anc~ if the same ia collected by en sttorney at lsw, the undoraigned hereby agree(s) to _ - p:+y all casts of collection, including s reasonable attorney's fee. ~ " 'rhis note ia secured by mortgage of even da~e executed by the unders~ned an oartaia groperty described therein and represents money acLuaAy used for the acquisition of said property or the improvements t,ha~eon. Presentment, pmteat, nnd noticR are herEby waived. . . - - - - . __~.s~- . [s~.j - _ ~s~Mal.l E. ST~F~IDR~ _w S ~r R. ;tafford [~L] - - aALLY R. STAFFqFID _ _ ~ - _ ~~L~ - - . . ^Y ~~L~ And shall duly, promptly, aud fully perf~rm, dischar~n, execute, effect, complete, and comply with and abide . by each and every the stipalatioras, agreements, cnnditions, and covenant~s of said promissory note and of thia ~ mort~ag~, then this mortgage and the estate hereby created shall cEase and be null aud void. . The D~ortgagor further covenants ss follows: t. `Ifiat he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at say time, _ without premiuta or fee, the entire indebtedness or any part thereof not leas than the amount of one inatallment, or ~ _ one hundred dollars (i100.00), whichever is tess. . _ . - 2. In order more fu11~- to protect the securit~• of this mortga~e, the :1Tortgago:, together with, and in i addition to~ the monihli- pa~m~pnts unrler the ter?ns of tl~e noie secured )~c~reb~•, on the first da~• of eac~i inont•li _ until tl~e said note is fu~l~~ paicl, w:ll pa~- to <1?c ~fortg~z~ee, as trustee, (und~r tlie ternis of this trust as }sercin- ' after sietecl) thc folloKing suu~s: (a) A sum equal to ihe ground rents, if any, next due, plus thz premiums that wit! next bc-~come due and payable ~ on policies of fire and other hazard insurance covering the mortgaged property, plus taxes and Asse.ssments next due on the mortgagea pmperLy (all as estimated by the i~iortgagee and of which Lhe 21'iortgagor is _ noti~ed) less all sums already paid therefor divided by the nuznber o# months io elapae before one month prior to the date when such ground rents, premiums, taxes, and a~essments will become delinquent, - such sums to be ~eld by Mortgs~geemtrusttr~paysaidgroundrents,premiums,taxes,andspecialaa.~ments. -(b) The sggregate of the amo~nt.a payable pur~ant to subparagraph (a) and those pa~~ yable on the note secured - _ - hereb~, shall be pai~ :a a single psymen~ each month,_to be appl~ed to the foUowing iteme in the order atated: - J - - - . ~ (I) g~ouud rents, taxes, ass~smenta, ~r~, and other hasard insurance prerr.iuma; " _ " _ (II) interest on the nof.e securedi hereby; and ~ (III) amortisation of the priiicipal of said note. - - Any deficiency in the amount of such a~;gregate m~nthiy pA.yment shall, unless made g~od by the Ivlor~ _ gagor prjor Lo the due date ot the next such payment,; const~tut,E an evenL of default undzr this i.:ortgage. ~ At Mortgagee's option, Mortgagor will pay a"late char~c" not exceeding four per centum (4~J'o) of any instell- - ment when paid more than fifteen (15)_days atter the due date thereof to cover the eatra expense involve~ in handliug delinq~:~nt ~syments, but such "lste charge" shall r,ot be payAble out of the groceeds of sny sale ~ tne~ds to satisf~= the ~ndebtedness secured hereby, wiless such pmceeds sre sufl'icient to discharge the entire indebLednes.g and all proper coats and expens~s secured thereby. - - , ~ 3. If the total of the pa~•~uents n~nd~ b~• the Afort~,~gor u~~der (a) of paragraph 2 preceding shall eaceed ~ ihe atnount o( pa}•met~ts sr.t~nll~• n~ad~ b~~ t~ie tiiortKa~;cr, as truster, for ground rents; taxes and asses_aments, - _ and insurance premiun?s, as tl~c c~se ma~• be, such exeess Qhall b~ credited on subsequent pai~ments to be mads bj• the Mc?r~gsgor for sucli items or, at~ M~rtgagee's optior~, as trustee, shall be reftinded to Morlgsg~r. If, however, such ~iiontlii~ pa~•menis shall not tx• sufli5~~ient to pa}• such items when the same shall become due = and pa •able, tleen the Mortgagor shull pa~ to th~ Mortga~ec, ns trustee, an}• amount necessary to mske up the de~cienc~-. Suclti pa~•ment. sha?1 bc> >na~ie witliin tliirt;v E~~) ~~a~'~ after w-ritlen not~ice from 4he Mortgagee etating the e?mount of t~e deticiencp, which not~ce may b~ given by mail. If at any time the Mortgsgor ehall . - _ 600K ~'3V PAGE ~I~+V -