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Home My WebLink About0965 . , ' 1'he ~lortgagur hen~b~• ccvenar~ts w•ith the ~lortgagee, that he 5he is inde[e:uib!}• sr?zed oi ::aid laud in fee ,impie or ' surh other estate, if an~~, ac is stated herein; that he~she has tull power and lawfui np,ht to convey the same as aforesaid: that the tand is free from ait F•ncumorances except at heretn otherwise recited: that said Mortgagor will make such furlher assurances to prove the atoresaid title to said land in said Mottgagee as may be reatonably required, and that said Mortgagor does hereby fully warrant the title to said Iand, and every• part thereof, and will defend the same against the tawful claims oi s!1 persons whomscever. Pxovrosn ALw~Ye that if the ~iortgagor shall pay ~.cnto the Mortgagee thet cerLain pmmissory note, of ~vhich the Inllowing ia a aubstantiel copf, to wit: i 55,000.00 Ft. Pierce , Florida. .Iune 2S ,19 86 . FOR VALUS RECEIVED~ t6e underai~gned promiae(s) to psy to ALLIANCE MORTGAGE OOhg'ANY , s corporatioa organized and e~osting under the la~va of THE STATE OF FLDRIDA , or order, the principal sum of FIFTY FIVE THOUSAND AND NO/100 Dolle?rs (i 55,000.00 with interest from date at the rate of NINE AND ONE-HAI.F per centum ( 9.5 %1 per annum on t6e unpaid balance until paid. The said principal and interest ahall be payabte at the office of Alliance Mortgage Company at P.O. Box 4130 in Jactcsonville, Florida 32231 , or at such other place aa the holder may designate in writing delivered or maiJed to the debtor, in monthly installments otRX.R H~I,T~D SIXIY'I~,A ADD 47/1~~- Dollara 462.47 commencing on ti~e first day of AUgust , 19 86 , and continuing on the firat day of each month t6ereafter until this note is fully paid, except that, ii not eooner paid, the final psyment of princapal and interest shall be due and payable on the firat day of July ,2016 . Privilege ia reserved to prepay at any tune, vPithout premium or fee, the entire in,debtednese or any part thereot not less than the amoant of one installment, or one hunclred doltars (b100.00), whichever is less. Prepaymeet in full shall be credited un the date received. Yutial prnpayment, other than on an installment due date, need not be credited until the next following insWiment due date or thirty days aiter such prepayment. whichever is euiier. Ii any deficiency in the payment of any inst~liment under this note is noL mede good prior to the due date of the next such installment, the entire principal sum and accrued interest shall at once become due and ~ay- able without notice at the option ot the holder oi t,his note. Failure Lo exercise this option shall not constatute a waiver of the right to eaercise the same in the event of any subsequent default. In the event of default in the payment of this note, and if the same is coilected by an attornev at law, the undersigned hereby agree(s) to gay all eosts of collection, incl~ding a reasonable attornep's fee. This note is secured by mortgage of even date executed by the undersigned on eertain ptoperty described therein and represents money actually used for the acquisition of said property or Lhe improvements therean. Presentment, protest, end noticP are hereby waived. /s/Charles W. TLrner Is~L] [s~+L] (s~L] (s~L) ~nd shall duly, promptly, and fully perform, discharge, execute, ef~ect, complete, and comply with and abide by each and every the stipulations, agreements, conditions, and covenanLs of said promissory note and of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void. The ~lortgagor further coveaants as followa: ."Ihat he'she will pay the indebtedness, as hE~reinbefore pro~-ided. Privilege is reser~~rd to prepay at any time. ~~ithout premium or iee, the entire indehtedness or ant• part thereof not iess than the amount of :;ne install~nent. or one hiu~dred doliars f S100.001, whichever is less. Prepayment in full shall t~e creditYd :;n the> d~itn rc~ceived. Partial prE~pati~mt~nt. ~~ther thaz~ ~~n ar. installment due date, neEd not be creciited un!il ~ thE• ne~t rollow~in~ instal~ment due date or thirt}~ da}•s after such prepayment, whichever is earlier. 2. !n ~~r~i~r n~orF~ (u11~• t~> pr~ta•~•t th~~ ~~~r•iirit~- nf this r~i~rtea~t~, th~~ ifortKa~~r, to€•~tt~f•r a•ith, xnc! in adciiti~in tu, tt~e niontt?I~~ pa~•nic~nts undc~r th~ t~rrriG nf the• ri~rt~• ~:~~•~~reei iirr~},~-, r~n tt~~• fir~t ~ln~• ~~f ~a~h ~nonth ;snt~l thc sa~~l not~~ is full~- pa~~l. ~+~ill na~- tn th~~ ~l~rt~at~t•t~. tru~tF~~~. iun~lr•r thr~ t~r.~~s c~( ihi~ trust a~ herc~in- ~fter stat~d; tlu• fullowin~.~ ,wns: (a) A sam equal Lo the ground rents, if any, next due, plus the premiums that will next become due and payable on policiea of fire a.nd other hazard insurance covering ihe mortqaged property, plus taxes and assessments next due on the mortRaf;ed property (all as estimated by the :V[ortgagee and of which the :Viortgagor is notified) less all susns already paid therefor divided by the number of months to etapse before one month prior to the date wi~en such ground rents, premiums, taxes, and assessments wiil become delinquent, . such xuma to be held by Mortga{Seeintrusttopaysaidgroundrents,premiums,taxes,andspecialassessments. {b) The aqgregate of the amounts payable pursaant to ~ubparagraph (a) and those payable on the note secured hereby, sha11 be paid ia a single payment each month, to be applied to the follaa-in~ items in the order stated : w o (I) ground rents, taxes, asse~ments, fire, and other hazard insurance premiums; (II) interest on the note secured hereby; and ~}1 (III) amortiza,tion of the principal of said aote. ~ Anv ~eficiency in the amount of silch a~~r~~ate monthl~• pa~-ment shall, unle~5 mad~ ~00~1 b~• the ~'Iort- ~agor pr;or ?o the due ciace of the next su~h na~•menc, consticute an event of detaulc under this rnortga~;e. ~~1t ~~iort~agee's option, ~iortoagor w?11 pa}• a"late charKe ' not exceeding four per centum (4%) of am• instail- T ment when paid more than fifteen lI.S) da~-s after the due cfate thereof to cover the extra expense in~olve~ in ~andlin~ delinquent pavments. but such "late rhar~,•e" s~~ell not be pa~able out of the proceeds of any sale made to satisf~• the indebtedne~s se~urc•d hereb~•, u~?ie~s si~cti proceeds are sufficient to dischar~e the ent~re C,j" indebtedness snd all praper costs anci exnenses secured Lhereby. :i. If tlit• tntal af tl~f~ t~a~-n~~~,i!~ i~~:ui~ h~• th~ ~iort~.ig~r un~i~~r ~;a) of ,~iira~.~rapii 2~rc~~~cdin~ shaii ~xrc~ed ~IIP S1iilOUfli px~-ni~~r.t. ts~~tuatl~- riiH~i~ rli~~ ~tort~a~,~t~~•. a~ tru~t~«~. f~r; ~~m,mr! rrnt~, t2s~s an~1 esscs~ments, :3n~! insurar~~F pmnuu~ns. th~• ~•n~~~ iuu~ h~~. ~u~h ~~c~r~~s ~)~a11 i~~ rr~~iitr~i ~~n .uhst~~~u~nt pa~•mPnts to be made b~' th~ ~i~rt~uF~ir f~r su~~h ~t~~:tic ~~r t~t \1nrt~a~~F s~,pU~n. us trusteF~, shall be rrfur<<ied to Ltort~agor. 1f, `~o~•e~'F~r, su~}: ~r.ontlil~- {ln~-m~nts ~ii~il n~t h~~ suffi~•iFnt t~i pa~- su~~h it~rn; w•hcn IftP SflI1IP SftQ~~ ~QCOifiP, due an~~ p~~-fl~~l~, thFn tfi~ \fnr+~a~or ~tt:ill E~a~• t~~ tlir~ l~ort~a~ee, as tru~te~, nn~• a~ii~unt nPCesserv to make up 'i~F r;efi~ir~nr~-. tiu~•'ti pa.-?n~nt ~i~all h~ n~a~i~ w~itiiin thirt~- i:i0) dn~•4 aftPr w-ritten not~~e from the ~fortgagee stating tt~e amount of the deficiencr, ~vhich noticP may be given b~ mail. If at ar,v ti:ne the Mort~agor ehall e - . ° ~ ~..1..._~ - - . _ _ . , ~ . _ _ 4 . .