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HomeMy WebLinkAbout0959 ~ . . ' ' ~ ~ : v : s, Tfie Mortgagor hereby covenanta with the Mortgagee, that he/she is indefeasibly seized of said land in.iee simple or such other estate, if any, as is stated herein; that heJahe hns tuU power and lawttil ri~t ta convey the same aa aforesaid; that ' the land ia free trocn ~il PIlC11Ynp[871C1'R except as herein otherwiae recited; thet said Mortgagor will make such 1luther asaurancea to prov~e the atoresaid title to aaid lu?d in aaid MortgaQee as may be reuaonably required, and that aafd Mortgagor dcea hereby lully vrarrant the tiUe to aaid land, and every part theceo(, and wiU defend the same against the lawtul daima of ~ all pe~sons whomacerer. Pnovinaa AL~v~YS tbat it the ?~ioctgagor shall pay unto the Mortgagee that oectain promieeory aote, oi wLich tbe following.is s subetwtial ooPp~ to wit: 1~ ~ 110,000.00 Ft. Pi,etZe , Fforida. 4 i . t~y 2 ~ 19 86 . : , i FOR VALIIS R=CSIYSD~ t6e uaderai~?ed promise(e) to pay to ~ ~ a oorporstion organised aad eaoetina under the Lwe oi 'Il~e State of Florida ~ or order, the principal aum ot CTE NHI7ED 'IFN ~SArD A[~D N~/100 Dollars (i110~000.00 with interest irom date at the rate o# I~E A[+D Q~F'r~~AT.F per centum ( 9.5 Per annum on the unp4id b~lauce until p~id. 'The esid principal aud interest ahall be payable st the o~ce of AI7 TAi~XE MRR'~GE ~ at P.O. Baoc 41~ in Jaclcs~t~vill,e~ Florida 371.31 - ~ or at such other p1aoE a8 the holder m~y deaignste in ~vriting deliveced or mailed to the debtor, in monthly inatallmenta of NIl~E Eil~i.~D 1t~1~IlY RxR AAD 94~100 Dollars 92~?.94 commencing on the firat day of ,~I,Y , 19 ~i , and cootinuina on the first dsy of each month thereafter until thia note is fully paid~ eaccept that, if not eooner paid, tbe finsl p~yment oi princ~pal and interest shall be due and paysble on the fi~st day oi ,~I~E ~~16 . privileg~e is reserved to prepsy at any time, without premium or fee. the entire indebtedneea or any psr~ thee~wf not !as than the anwunt of oae in:tallment, o: oae hundrPd doUus (:100.00). w~Wcdever x kss. Ytepaymeat in tuU a6all be credited on the date received. Partial prepayment, othet t6ad on ad instaUa~ent due date. need aot be credited until the next tdlowing installment due date or thirty dayt aiter ach prepayment, whichever it euUer. , If any de6ciency in the psym ent of any installment under this note is not msde good prior to the due dste ; of the ne:t such inatsllment, the entire principal sum and accrued interest ehall at once become due snd pay- ~ a~le without notice st the option of the holder of this note. Failure to eaercise this option shsll not oonstatute a waiver of the right Lo eaemase t6e same in the event of any subeequent deSeult. In t,he event of deisult in the payment of this note, snd it the asme ie collected by an attorney st law, the underaigned hereby agrea(s) to pay sll costa of collection~ including s reasonable sttarney's fee. ~ This note ia eecured by mortgage of even date eaecuted by the underaigned on oertain praperty described ; therein and represents money actually used for the acquisition of said pmperty or the impmvementa thereon. ; I Presentment, protest, and notias are hereby waived. ~ /s/ Noa~~ E Tba~~s _ ~ Lar~da Tbarbs _ - (s~L] ' And ahall duly, promptly, and fully perform, discharge, execute, ef~ect, complete, and coinply with and sbide by each and every the stipulations, agreements, conditiona, and covenants of said promiasory note and of thia mortgage, then this mortgage and the eatate hereby created shall cease and be null sud void. ; The Mortgagor further covensuts as follows: ~t 1. That he/she will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at 0 any time, without premium or fee, the entire indebtedness or any pazt thereof not less than the amount of i one installment, or one hundred dollars ($100.00), whichever qs less. Prepayment in full shall be credited on Lhe date received. Partial prepayment, other than on an installment due date, need not be credited until the next following installment due date or thirty days a~ter such prepayment, whichever is earlier. ~ 2. In order more full~• to protect the securitc of t}?is mort~age, tlie ~fortgagor, togetl?er with,~and in addition to, the rnonthl~- pa~•nienta under the terrns of the note se~•ured }?ereh~~, on ttie first da~~ of each month ~ until the said note is full~• paid, will pa~• to the :Nort~u~ee, a.S trustee, (under the tern?s of this trust as herein- ~ a[ter stated) the followin~ swns: - (a) A sum equal to the ground rents~ if say~ next due, plus the premiums ttutt will next become due and payable on policiea of fire and other 6azard inaurance covering the mort.qaged pmperty, plus tauea and assessments next due on tde mortgaged pmperty (all as estimated by the Mortgagee and of which the Mortgagor is notified) less all sume already pa?d therefor divided by the number of months to elapse before one month ~ prior to the date wi~en snch ground rents, premiuma, taxes, snd asses.sments will become delinquent, such suma to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taxee,andspecialasseasments. ~ (b) The aggregate of tht amounts payable pursuant to subparagraph (a) and thoae payable on the note ~ecured ~ hereby, shall be paid in s eangie payment each month, to be applied to the following itema in the order a.o ~ etated ~,o (I) ground rente, taxes, asseasmente, fire, and other hazard insur~nce premiums; ~ ~ (II) interest on the note aecured hereby; aad ~ (III) amortisation of the principal of said note. ~ Any deficiency in Lhe amount oi such s{;gre~ate monthly payment shall, unless made good by the Mort- ~ gagor pr~or to the due date of the next such payment, const~tute an event of de(ault under this mortgage. At hlortgagee's option, Mortgagor will pay a"late cliarge" nat exceeding four per centum (4°J'o) of any install- ment when paid more than Sfteen (15) days aiter the due date thereof to cover the extra expenae involved in ~ ~ ~ handling delinquent payments, but such "late charge" shal! not be payable out of the prceeeds of aray sale , made to satisfy the ~ndebt,edness secured hereby, unless such proceeda are sufficient to discharge the entire ~ ~ indebtedness and all proper costs end expenses secured thereby. ? 3. 1[ the total ~f the pa~•~iients ~nud~ br the Mortgugor undnr (a) of paragrnpi~ 2 ptecedic~ shall exceed ' the amount of pa~•ments actuall~- ~na~l~ b~• t~~e \TortKaKec, as trustee, for ground rents, tnxes and asses.cments, ~ and insurance premiun~s, as the case ~na~•~be, sueh excess sl?a11 be credited on subsequent payments to be made by the Mortga{;or for such itenis or, ut~ ytortgugPe's option, a.4 trustee, shall be refunded to Mortgegor. If, a however, sucti montlil~• pa~•ments st?all not I~c suffi~~ient to pa~• su~h iten?s when the seme shall become dus and pn~-able, then tl?c~:~iort~a~or shnll pu~• to th~ ~4ort~nge~•, as trustee, an~• amount necess~ry to make up ' the de~iciene~•. Sucl? pa}•rnent shal! bP iuade within thirt~~ (:30) da~•s after wtitten notice from the Mortgagee atating the anr.ount ot the deficiency, which notice may be given by mail. If at any time the Mortgsgor shall ; ~ . . , _ . . - - _ .