Loading...
HomeMy WebLinkAbout0995 ' , ~ ~ ~ . , \ ' , \ ~ , , , y ~ . ~ . ~ . To Have And To Hold the same, together with all and singular 2. That, in order more fully to protect the s~curity of this the tenements, hereditan~ents and app~?rtenances thereunto beiong• mortgf+ge, the Mortgagor, together with, and in addition to, the ing or in anywise appertaining, and the reversion and reversions, monthly payments under the terms of the note secured htreby, on remainder or remainders, rents, issues and proGts theroof; and aL;o the first day of sach month until the said note is fully paid, will all the estate, right, title, interest, homestead, separate estate, pay to the Mortgagee the following sums: ~ passession, claim and demand whatsoever, as well in law as in ~a) A sum equal to the ground rents, if any, next due, plus the equity, of the said Mortgagor in and to the same, and every part premiums that will next bxome due and payable ~n policies of fire thereof, with the appurtenances of the said Pviortgagor in and to and other hazard insurance co~erng the mortgaged property, plus ihe same, and every part and parcel thereot unto the said Mort- taxes and assessments next due on the mortgaged property (all as . gagee in fee simple. estimated by the Mortgagee) less all sums already paid therefor divided by the number of months to elapss before one month prior And the Mortgagor hereby covenants with the Mortgagee that to the date when such ground re~ts, premiums, taxes, and ~ he is indefeasibly seized of said land in fee simple; that h~ has full assessments wiil become delinquent, such sums to be held by Mort- power and lawful right to convey the same in fee simple as EaB~e in trust to pay said graund rents, premiums, taxes, and atoresaid; that it shall be lawtul for the Mortgagee, at all times special assessments; and peaceably and quietly to enter upon, hold, occupy, and enjoy said (b) All payments mentioned in the preceding subsection of this land, and every part thereof; that the land is and will remain free paragraph and ali payments to be made under the note secured from all encumbrances; that said Mortgagor will make such further hereby shaU be added together and the aggregate amount thereof assurances to prove the !ee simple title to said land in said Mort- shail be paid by the h4ortgagor each month in a single payment to gagee as may be reasonably required, and that said Mortgagor does ~ applied by the Mortgagee to the following items in the order set ~ hereby fully warrant the tide to said land, and every part thereof, forth: - and will defend the same against the lawful claims of all persons (i) ground rents, taxes, a.sstssments, fire and other hazard in- - whomsoever. surance premiums; ; (u) interest on the note secured hereby: Provided always, and these presents are exP.cuted and delivered (iii) amortization of the principal of said note; s: upon the following conditiuns, to wit: (iv) late charges Any deficiency in the amount of such aggregate monthly payment The Mortgagor agrees to pay the Mortgagee, or order, the principal shall, unless made good ~y the Yvtortgagor prior to the due date of sum of Seventy Thousand Sixty-f ive & 00/ 100 the next such payment, constitute an event of default under this ' pp~~a~ (g 7Q, 065 . 00 mortgage. The Mortgagee may collect a"late charge" not to exceed four cents (4t) for each dollar (S1) of each payment more than fif- as evidenced by a note of even date herewith, with interest from «n (15) days in arrears to cover the expense involved in handling delinquent payments. date at the rate of Nine and one-half per centum ( 9. 50 yb?, per annum on the unpaid 3. That if the totat of the payment,a made by the Iviortgagor balance until id. The said princi I and interest shall be payable under (a) of paragraph 2 preceding shall exceed the amount of ! Pa Pa payments actually made by the Mortgagee for ground rents, taxes at ttie office of Riverside National Bank of and assessments and insurance premiums, as the case may be, such Florida, 2211 Okeechobee Rd. , Ft. Pierce, Fl. excess, if the loan is current, at the option of the Mortgagor, shall = or at such other place as the holder of the note may designate in be credited on subsequent payments to be made by the Mortgagor, i writin , in monthly installments of Five Hundred Ei ht or refunded to the Mortgagor. If, however, the monthly payments ~ g g y made by the Mortgagor under (a) of paragraph 2 preceding shall ? ~ nine and 14/100 - .~c,Ilars (S 589.14 not be sufGcient to ~ay ground rents, taxes and assessments and in- j ~ commencing o~~ the ~rst day of 86 , and Qn the first day of surance premiums, as th~ case may be, when the same shall ~ each month thereafter until the become due and payable, then the Mortgagor shall pay to the ~ principal and interest are fully paid, except that the ~nal payment Mortgagee any amount ner.essary to make up the deficiency, on or ~ of principal and interest, if not sooner paid, shall bs due and before the date when payment of such ground rents, taxes, _ ~ able on the first day of October, 2016. ~ments, or insurance premiums shall be due. If at any time the F PaY Mnrtgagor shall tender to the Mortgagee, in accordance with the ~ provisions of the note secured hereby, full payment of the entire ; And shall duly, promptly, and futly perform, discharge, execute, ef• indebtedness represented thereby, the Mortgagee shall, in com- fect, complete, and comply with and abide by each and every the puting the amount of such indebtedness, credit to the account of ~ IR st~pulations, agreements, conditions, and covenants of said promis• the Mortgagor any balance remaining in the funds accumulateci - sory note and of this mort gage and the estate under the provisions of (a) of said paragraph 2. If there shall be a gage, then this mort default under any of the provisions of this mortgage resulting in a I hereby created shall cease and be nul! and void. public sale of the preroises covered hereby, or if the Mortgagee ac- ! quires the property otherwise after default, the Mortgagee shall And the Mortg~gor further cor~enants as follows: apply, at the time of the commencement of such proceedings, or at the same time the praperty is otherwise acquired, the balance then ~ remaining in the funds accumulated under (a) of paragraph 2 1. That he will pay the indebtedness as hereint~efore provided. Preceding as a creciit against the amount of principal then remain- Privilege is reserved to pay the debt, in whole or in part, on any ~ng unpaid under said note. installment due date. 4. 'fhat he will pay all taxes, assessments, water rates, and other governmental or municipal charges, fines, or impositions, for ~ U R~~4 PAGE 9?94 which provision has not been made hereinbefore, and in default BOOK thereof the Mortg,agee may pay the same; and that he will prompt- _ _ ' ly deiiver the ofCcial receipts therefor to the I1~ortgagee. , . k ~ „ , - . Page 2 of 4 = _ ~ . . _w,_,_~..~_...._,~._ - . • _ , ~ _ .