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Home My WebLink About0932 The ~sort.~e~ur hereby covenants with the '~Sorlg~u;ee, tt,at he is u~defetisibly seized of said laod in l::e I eimple or such other estate, ~t any, as is stated herein; t~~a~ he h~ full poK•er and lawiul right to co~vev th~ sxme as afaresaid; t,hat the lund ia free irom all encumbrances except as t~cre~n otherwise recited; that, said I~iortge~;or will make such further assurances to provo the aforesaid title to said land in said '~lortgagee ns mey be rexson- ably required, ond that said Mortgagor Joes hereby fully warrant the title to s~id land, and overy part tliereot, . and will defend the same against t,he lawful cleims oi all persons whom,oever. PROVIDED ALWAYB t~18t lf ~~1@ ~~0~~~;Oi 3~Idll pRy t1IIL0 ~L9 MOILg8g0d ~B~ CB[t81I1 p[OII118S01'y note, of which the following is a substsntial copS~ to wit: = 55,000.00 Fort Pierce ,Florida June 20 , 19 85 . FOR YALUS RF.CEIVED~ the undersigned promise(s) to pey to COUNTRYWIDE FUNDING CORPORATION , a corporetion organised and e~dstiag under the lews of the State of New York , or order, the principal sum of FIFTY FIVE THOUSAND AND NO/ 100 ~ll~ 55,000.00 with interest from date at t6e rate of ELEVEN AND ONE-HALF per centum ( 11. SpJo) per annum on the unpaid balance until paid. The said principal and interest ahall be payable at the office of Countrywide Funding Corporation, 155 North Lake Avenue, P.O. Box 7137, ~ Pasadena, CA 91109-7137 , or at such other plac,~ as the holder may designate in writing delivered or mailed to the debtor, in monthly ir_stallments ofFIVE HUNDRID FORTY FOUR 6~6/ 100-Dollars 544.66 commencing on the first day of August , 1~5 , and continuing on the first day of each month thereafter until this note is fully paid, ~xcept that, if not sooner paid, t6e final pavment of principal and interest shall be due and payable on the first day oi July, 2015 , . Privilege is reserved to prepay gt any time, withc~ut premium or fee, the entire indebtedness or any psrt thereol not less than ihe amount of one instaliment, or one hundred dollars (a100.00), whichever is less. Prepayment ia full shall be credited on the date received. Partial prepayment, other than on an installment due date, need not be credited until the next [ollowing instaltment due date or thirty days a[ter such prepayment, whichever is earlier. If any deficiency in the payment of any installment under this nots is not made good prio~ to the due date of the next such installment, the entire principal sum and accrued interest shali at once become due and ~ap- able without notice at the option of the holder oi this note. Failure to eaercise this option shall not constitute a waiver of the right Lo exerc~.~e the same in the event of any subsequent defauli. In the event of dafault in the payment of this note, and if the same is collected by an ettorney at law, the undersigned hereby agree(a) to pay all costs of collection, including a reasonable attorney's fee. This note is secured by mortgage of even date e~ecuted by the undersignrd on certain property described therein and reprPSents money actually used for the acquisition of said property or the improvemente thereon. Presentment, protest, and noticP are hereby waived. /sf_.Cy_nthia D. ~Armstrong (s~L] CYNT'HIA D. ARMSTRONG ls~--Isaiah Armstro~--~---~------------------ [SE~L] ~SAIAH ARMSTRONG [s~L] [s~L~ And shall duly, promptly, and fully perform, discharge, execute, eftect, complete, and comply with and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this mortgage, then this mortgage and the estate hereby created shall cea.se and be null snd void. The Mortgagor further covenants as follows: 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, without premium or fee, the entire indebtedness or any pan• thereof not less than the amount of one ins~allment, or one hundred dollais (~lOQ.00), whiche~er is less. Prepayment in full shall be credited on the date receiced. Partial ; prepayment, other than on an installment due date, need not be credited until the next following installme?~t due date or ~ ~ thirty days after such prepayment, whichever is earlier. ! ; 'l. In order ~nor~ full~- to prot~ct the sf~curit~~ of this n?ort~n~e, th~~ \fnrt~.~a~~~r, to~etl~~r w~ith, ~ncl in j addition to, th~ monthl~- pa}•nients und~r the tenns c?f the~ note sc~~•ur~cl hi~reb~•, on the fir~t (~A~" O~ PHC}1 IllOill}I ~ until tl?e said note is full~• puid, will pa~• to t1~~ t1~rt~a~~~~~, as truste~i~, (un~l~~r thr t~rnis of this trust fls her~in- ~ ~ att~r stated) the iu?1oH•ing suu?s: ~ (s) A sum equal to the ground rents, if any, next due, plcs the premiums that will next become due and payable ; F on policies of Sre and other hazard insurance covering Lhe mortRaged property, plus taxes and asses.~ments , ; next due on the mortgaged property (all as estimated by the Mortgagee and of which the ~'~ortgagor is notified j less all sums already paid therefor divided by the number of months to elapse before one month ' prior to the date when such ground rents, premiums, taxPS, and a.ssessments wil! become delinquent, 4 such st.ms to be held by biortgageeintrusttopaysaidgroundrents,premiums,taxes,andspecialassessments. { (b) The aggregate of the amounts payuble pucsuant to subpara.graph (a) and those payable on the note ~ecured F hereby, ehall be paid in a single payment each month, to be applied to the following itema in the order atated: (I) ground rents, taxes, assessmenta, fire, and other hazard insurance premiums; ~ (II) interest on the note aecured hereby; and ~ (III) amortization of the principal of said note. I' i Any deficiency in the amount ot such a~~re~ate monthly parment shall, unless made ~ood by the :~iortr ' gagor pr~or to the due date of the next such pavment, const~tute an event of default under this mortga~e. At blortgagee's option, Mort~agor will pa~~ a"late charge" not ezceeding four per centum (4%) of any install- ment when paid more than fifteen (15) days after the due date thereof to cover the extra expense involved in handling delinquent ~ayments, but such "late charge" shall not be payable out of the proceeds ~f any sale made to satisfy the ~n~ebtedness secured hereby, wiless snch proceeds are sufficient to discharge the .entire ~ indebtedness and all proper costs and expenses secured thereby. ' ; 3. If the total ~f the pa~-n~~nts n~u~ic~ h~- the `lortga~or ~nci~r (a) of pnrn~rapli 2 pr~~e~iin~ sliall exceed , t}~e an?ount of pa~-ments a~tuull~• n;a~i~ h~• tiie ~tort~:flKe~~, us trust~~, for krounci rt~nts, tax~s and assescments, ' ar.d insurance pr~niiwii~, as the~ ~~ase nia~-~bf~, such PxeFSS shall b~ cre~lit~ci on su}nequent pa}-rnents to be made b}- the ~iortgagor for su~li iten?s or, at~~tortguR~P's option, us truste~, si?all be r~funded 40 ~Sort~agor. If, however, su~h montl~l~- pn~~m~nts ~hnll n~t he suffir•iont to par su~h itenis when the same shall become due ' and pu~•nble, th~n tiic ~lortga~~r chall pa~- to th~ ~1ort~u~~~~, as trustc~, un~` aii?ount necessar~• to make up ' ihF de~icienc~•. :~u~l? parn~~nt sl~nll b~ inacl~ w•ithin thirt~- (:30) dn~•s after w•ritten noiice from the :~iortgaf;ee ~ atating the amount of the defici~nc~, wl~ich notice mey be given by mail. I[ at anv time the Mortga~or ehall ' f i K ' vg e~ ti~~~~ ~68 ~i~~~ ~x ~ _ _ ~ - ~ ~ ~ ~ ~:.5 ~X: ~ .a.e ,r ~~.a•:~.~~.;~~~.--°~°°~~